Republic Bancorp Inc.

07/23/2021 | Press release | Distributed by Public on 07/23/2021 04:31

Other Event (Form 8-K)

Other Events

As previously disclosed, on May 13, 2021, Republic Bank & Trust Company (the 'Bank'), a subsidiary of Republic Bancorp, Inc. (the 'Company'), entered into an Asset Purchase Agreement (the 'Purchase Agreement') with Green Dot Corporation ('Green Dot') pursuant to which, upon the terms and subject to the conditions set forth therein, Green Dot will purchase substantially all of the assets and operations of the Bank's Tax Refund Solutions business (the 'Sale Transaction').

The Sale Transaction is conditioned on, among other things, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the 'HSR Act'). On July 21, 2021, the Company and Green Dot received early termination of the waiting period under the HSR Act.

The Company and Green Dot expect to complete the Sale Transaction within the next 30 days, subject to the satisfaction or waiver of the remaining customary conditions set forth in the Purchase Agreement.