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REPUBLIC BANCORP DECLARES COMMON STOCK CASH DIVIDEND

 REPUBLIC BANCORP DECLARES COMMON STOCK CASH DIVIDEND
 ANN ARBOR, Mich., Jan. 17 /PRNewswire/ -- The board of directors of


Republic Bancorp Inc. (NASDAQ-NMS: RBNC), at its regular monthly board meeting in January, declared a quarterly cash dividend of $.05 per share on common stock payable on April 10, 1992, to shareholders of record March 6, 1992. This is the first common stock cash dividend declared by the company.
 Republic recently reported recorded earnings for 1991. Net income for the year was $4,057,000, an increase of 234 percent over the $1,213,000 reported for 1990. Primary earnings per share increased from $.13 in 1990 to $.67 in 1991. During 1991, Republic closed $490 million in residential mortgages compared to $244 million in 1990, an increase of 101 percent.
 Republic Bancorp Inc. is a registered bank holding company with headquarters in Ann Arbor. The company owns seven subsidiaries: Republic Bank with offices in Flint Township, Grand Blanc and Owosso; Republic Bank Ann Arbor; Republic Bank - Central with six offices in the Lansing area; Republic Bank - North with four offices in the Traverse City area; Republic Bank S.E. in Bloomfield Hills and Grosse Pointe Farms; Premier Bancorporation, Inc., with eight offices in the Jackson area; and Republic Bancorp Mortgage Inc. of Farmington Hills, Mich. Republic Bancorp Mortgage Inc. has six offices in Michigan and originates and services residential mortgage loans, primarily within the state of Michigan.
 Republic Bancorp Inc. common stock is traded in the over-the-counter market and quoted on the NASDAQ National Market System under the symbol RBNC.
 -0- 1/17/92
 /CONTACT: Dana M. Cluckey of Republic Bancorp, 517-725-7337/
 (RBNC) CO: Republic Bancorp ST: Michigan IN: FIN SU: DIV


JG-ML -- DE018 -- 1093 01/17/92 15:48 EST
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Publication:PR Newswire
Date:Jan 17, 1992
Words:290
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