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Exhibit 99.1 Republic Bancorp , Inc. Reports 7 % Increase in Third Quarter Net Income from Continuing Operations LOUISVILLE , Ky .-- ( BUSINESS WIRE ) -- October 22 , 2021 -- Republic Bancorp , Inc. ( NASDAQ : RBCAA ) , headquartered in Louisville , Kentucky , is the holding company of Republic Bank & Trust Company ( the “ Bank ” ) . Republic Bancorp , Inc. ( “ Republic ” or the “ Company ” ) is pleased to report third quarter 2021 net income from continuing operations ( 1 ) of $ 18.4 million , a 7 % increase compared to the third quarter of 2020. Third quarter Diluted Earnings per Class A Common Share ( “ Diluted EPS ” ) from continuing operations was $ 0.91 , an increase of approximately 10 % over the $ 0.83 earned during the third quarter of 2020 . Year - to - date net income from continuing operations was $ 55.2 million , a $ 5.9 million , or 12 % , increase from the same period in 2020 , resulting in return on average assets ( " ROA ” ) and return on average equity ( “ ROE ” ) from continuing operations of 1.16 % and 8.72 % for the first nine months of 2021 . Logan Pichel , CEO and President of Republic Bank & Trust Company , commented , " We are proud of the strong results we have posted throughout another year disrupted by the pandemic . Our third quarter of 2021 was solid , with net income from continuing operations up 7 % over the third quarter of 2020 and Diluted EPS up even more thanks to our recent stock buyback program . Furthermore , our continued strategic focus on expense discipline played a large role in the 3 % reduction in noninterest expense from continuing operations for the quarter . " Within our Core Banking ( 2 ) operations , net income was up 12 % for the quarter . Strong PPP ( 3 ) fee revenue within our Traditional Banking segment was a key component in offsetting the expected decline in Mortgage Banking income from the record levels achieved during 2020 , as well as , general compression within our net interest margin resulting from the current low interest rate environment . Our Core Banking Provision ( 4 ) was substantially higher during the third quarter of 2020 due to a meaningful build of our Allowance ( 4 ) brought on by the uncertainty of the COVID pandemic . While some level of COVID uncertainty will likely remain in the foreseeable future , we believe our current Core Bank Allowance is at an appropriate level to cover remaining life- of - loan losses .