Republic Bancorp Inc. of Louisville announced Friday that its third-quarter earnings rose 18%, to $8.1 million.
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The $2.6 billion-asset company credited increases in interest income and fees from services charges on deposits. Loans were $2 billion, 15% more than a year earlier.
Fees from services charges rose 20%, to $4.1 million, in part because of a recent push to increase low-cost deposits. Since January Republic has added 20,000 new checking accounts.
The company also added $1.7 million to its income because it trimmed its payday loan portfolio by $31 million in the third quarter. That led to a lower loan-loss allocation.
