Exhibit 99.1

Republic Bancorp, Inc. Maintains Robust Loan Growth as Second Quarter 2015 Net Income Exceeds Second Quarter 2014 Net Income by 32%

LOUISVILLE, Ky.--(BUSINESS WIRE)--July 17, 2015--Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company for Republic Bank & Trust Company (the “Bank”).

Republic Bancorp, Inc. (“Republic” or the “Company”) is pleased to report second quarter net income of $8.3 million, a 32% increase over the second quarter of 2014, resulting in Diluted Earnings per Class A Common Share of $0.40. Return on average assets (“ROA”) and return on average equity (“ROE”) were 0.85% and 5.78%, respectively, for the second quarter of 2015.

Steve Trager, Republic’s Chairman and Chief Executive Officer, commented: “We are very proud that we have been able to produce another solid quarter of year-over-year earnings growth. In addition, we are also excited that we have been able to continue our loan growth momentum at our Core Bank, while at the same time our interest rate risk model indicates that we remain in a sound position in the event of rising market interest rates.

“Thanks to continued high usage rates among the Bank’s warehouse clients, our warehouse lines of credit contributed another solid quarter of growth by increasing outstanding balances $66 million, or 16%, from March 31, 2015. Altogether, for the first half of the year, outstanding warehouse lines of credit have grown $169 million, or 53%, over our outstanding balances at December 31, 2014. We have also made good progress in organically growing our Traditional Branch Network loan portfolio during the first half of 2015, with growth of $104 million, or 4%, during the first six months of the year. Although we have experienced a great deal of success thus far during 2015, we realize that we can never rest on our laurels and must maintain our focus in order to produce continued solid results for the remainder of this year and beyond.”

The following table highlights Republic’s financial performance for the second quarter and first six months of 2015 compared to the same periods in 2014:

Results of Operations for the Second Quarter of 2015 Compared to the Second Quarter of 2014

Traditional Banking, Warehouse Lending (“Warehouse”) and Mortgage Banking (collectively “Core Bank” or “Core Banking”)

Net income from Core Banking was $7.7 million for the second quarter of 2015, an increase of $1.8 million, or 30%, from the second quarter of 2014. The increase in quarterly net income at the Core Bank continued to be driven by higher net interest income resulting from solid loan growth. The Core Bank’s growth in net interest income was further complemented by a modest provision for loan and lease losses, which remains favorably low due to on-going improvement in the Core Bank’s already-solid credit quality metrics.

Net interest income at the Core Bank increased to $30.6 million during the second quarter of 2015, a $3.1 million, or 11%, increase over the second quarter of 2014. Net interest income benefitted from the previously mentioned robust loan growth during 2015 combined with the Core Bank’s strong loan growth during the second half of 2014. This growth over the previous twelve months led to an increase in the Core Bank’s average loan balances of $546 million, or 21%, when comparing the second quarter of 2015 to the second quarter of 2014. The growth in average loan balances more than offset the negative impact to the Core Bank’s net interest income resulting from a decrease of seven basis points to its net interest margin from the second quarter of 2014 to the second quarter of 2015.

A breakdown of the overall change in the Core Bank’s period-end and average loan balances by origination channel is presented in the table below:

Net interest income at the Core Bank for the second quarter of 2015 includes $1.6 million of net interest income contributed from the Company’s 2012 FDIC-assisted transactions compared to $2.3 million contributed during the second quarter of 2014. Accretion income from the 2012 FDIC-assisted transactions contributed 14 and 17 basis points to the Core Bank’s net interest margin during these two periods.

The Core Bank’s provision for loan and lease losses remained favorably low for the second quarter of 2015, as overall credit quality remained strong. Core Bank provision expense was $717,000 for the second quarter of 2015 compared to $710,000 during the second quarter of 2014. Provision expense for the second quarters of 2015 and 2014 primarily represented an increase in general loan loss reserves, driven by the previously mentioned strong growth in the Core Bank’s loan portfolio. The Core Bank’s overall credit metrics in both periods continued to compare favorably to peer.

The table below illustrates the Core Bank’s well-regarded credit quality ratios for 2015 quarter ends and the previous three calendar year ends:

Non-interest income for the Core Bank was $7.2 million during the second quarter of 2015 compared to $6.8 million for the second quarter of 2014. Increases of $412,000 and $257,000 in Mortgage banking income and interchange income, respectively, were partially offset by a $316,000 decrease in service charges on deposits. Mortgage banking income for the second quarter of 2015 was driven by increased secondary market loan volume resulting from favorable long-term mortgage rates for much of the quarter. The increase in interchange income was driven primarily by a 39% increase in purchase volume from the Core Bank’s credit card portfolio.

Core Bank non-interest expense increased $1.2 million, or 5%, from the second quarter of 2014 to $25.7 million during the same period in 2015. A large portion of the increase in non-interest expense for the quarter was in the salaries and benefits category as the Core Bank increased its full-time equivalent employees (“FTEs”) from 676 at June 30, 2014 to 699 at June 30, 2015. The increased staffing was generally concentrated in the centralized lending operations area of the Core Bank in order to meet current loan demand and for additional capacity to meet long-term loan demand expectations.

Conclusion

“While we have made well known our desire to make a prudent bank acquisition in the near-term, our ability to grow organically through our various origination channels provides us the opportunity to remain disciplined in seeking the right partner. In the meantime, we will continue to review and enhance our strategic plan, as we seek to heighten our overall organic performance with the goal of managing risk and maximizing return commensurate with the highest performing banks in the Nation,” concluded Trager.

Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently has 40 banking centers: 32 banking centers in 12 Kentucky communities - Covington, Crestwood, Elizabethtown, Florence, Frankfort, Georgetown, Independence, Lexington, Louisville, Owensboro, Shelbyville and Shepherdsville; three banking centers in southern Indiana – Floyds Knobs, Jeffersonville and New Albany; two banking centers in Florida – Port Richey and Temple Terrace; two banking centers in Tennessee – Cool Springs (Franklin) and Green Hills (Nashville); and one banking center in Blue Ash (Cincinnati), Ohio. The Bank offers internet banking at www.republicbank.com. The Company has $4.1 billion in assets and is headquartered in Louisville, Kentucky. The Company’s Class A Common Stock is listed under the symbol “RBCAA” on the NASDAQ Global Select Market.

Republic Bank. It’s just easier here ^SM.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in the preceding paragraphs are based on our current expectations and assumptions regarding our business, the future impact to our balance sheet and income statement resulting from changes in interest rates, the ability to develop products and strategies in order to meet the Company’s long-term strategic goals, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the actual timing, magnitude and frequency of interest rate changes, as well as the actual changes in market conditions and the application and timing of various management strategies as compared to those projected in our interest rate model. Additionally, actual results could differ materially from the interest rate model if interest rates do not move equally across all points on the yield curve and based upon other factors disclosed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those factors set forth as “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended December 31, 2014. The Company undertakes no obligation to update any forward-looking statements. These forward-looking statements are made only as of the date of this release, and the Company undertakes no obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this release.

Segment Data:

Reportable segments are determined by the type of products and services offered and the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business (such as banking centers and business units), which are then aggregated if operating performance, products/services, and customers are similar.

As of June 30, 2015, the Company was divided into four distinct operating segments: Traditional Banking, Warehouse Lending (“Warehouse”), Mortgage Banking and Republic Processing Group (“RPG”). Management considers the first three segments to collectively constitute “Core Bank” or “Core Banking” activities. The RPG segment includes the Tax Refund Solutions (“TRS”) division, Republic Payment Solutions (“RPS”) and Republic Credit Solutions (“RCS”). TRS generates the majority of RPG’s income, with the relatively smaller divisions of RPG, RPS and RCS, considered immaterial for separate and independent segment reporting. All divisions of the RPG segment operate through the Company.

The nature of segment operations and the primary drivers of net revenues by reportable segment are provided below:

The accounting policies used for Republic’s reportable segments are the same as those described in the summary of significant accounting policies in the Company’s 2014 Annual Report on Form 10-K. Segment performance is evaluated using operating income. Goodwill is not allocated. Income taxes are generally allocated based on income before income tax expense unless specific segment allocations can be reasonably made. Transactions among reportable segments are made at carrying value.

(1) – The amount of loan fee income included in total interest income was $2.9 million and $2.3 million for the quarters ended June 30, 2015 and 2014. The amount of loan fee income included in total interest income was $4.7 million and $5.4 million for the six months ended June 30, 2015 and 2014.

The amount of loan fee income included in total interest income per quarter was as follows: $2.9 million (quarter ended June 30, 2015); $1.8 million (quarter ended March 31, 2015); $2.2 million (quarter ended December 31, 2014); $1.8 million (quarter ended September 30, 2014); and $2.3 million (quarter ended June 30, 2014).

(2) – The following table provides a reconciliation of total stockholders’ equity in accordance with U.S. Generally Accepted Accounting Principles to tangible stockholders’ equity in accordance with applicable regulatory requirements. The Company provides the tangible book value ratio, in addition to those defined by banking regulators, because of its widespread use by investors as a means to evaluate capital adequacy.

(3) – The efficiency ratio equals total non-interest expense divided by the sum of net interest income and non-interest income. The ratio excludes net gain (loss) on sales, calls and impairment of investment securities, if applicable.

(4) – The cost of deposits ratio equals annualized total interest expense on deposits divided by total average interest-bearing deposits plus total average non interest-bearing deposits.

(5) – Ratio relates only to Core Banking operations, which consists of the Traditional Banking, Warehouse Lending and Mortgage Banking segments.

(6) – The delinquent loans to total loans ratio equals loans 30-days-or-more past due divided by total loans.

NM – Not meaningful

CONTACT:
Republic Bancorp, Inc.
Kevin Sipes, 502-560-8628
Executive Vice President and Chief Financial Officer