REPUBLIC BANCORP INC /KY/ New Standards Disclosure
Recently Adopted Accounting Standards
The following ASUs were adopted by the Company during the year ended December 31, 2025:
Method of | Financial | |||||||||
ASU. No. | | Topic | | Nature of Update | | Date Adopted | | Adoption | | Statement Impact |
2024-02 | Codification Improvements—Amendments to Remove References to the Concepts Statements | This ASU contains amendments to the Codification that remove references to various Concepts Statements. In most instances the references are extraneous and not required to understand or apply the guidance. In other instances the references were used in prior Statements to provide guidance in certain topical areas. | January 1, 2025 | Prospectively | Immaterial | |||||
2023-09 | Income Taxes (Topic 740): Improvements to Income Tax Disclosures | Among other things, these amendments require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and income tax paid information and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income [or loss] by the applicable statutory income tax rate). | January 1, 2025 | Prospectively | The Company updated its income tax disclosures upon adoption. |
Accounting Standards Updates
The following not-yet-effective ASUs were issued since the Company’s most recently filed Form 10-K and are considered relevant to the Company’s financial statements. Generally, if an issued-but-not-yet-effective ASU with an expected immaterial impact to the Company has been disclosed in prior Company filings, that ASU will not be subsequently redisclosed.
Date Adoption | Adoption | Expected | ||||||||
ASU. No. | Topic | Nature of Update | Required | Method | Financial Impact | |||||
2024-03 | Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses | This ASU requires public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period. | Annual reporting periods beginning after Dec. 15, 2026, and interim periods within annual reporting periods beginning after Dec. 15, 2027. | Retrospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-01 | Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date | This ASU amends the effective date of ASU No. 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. | Annual reporting periods beginning after Dec. 15, 2026, and interim periods within annual reporting periods beginning after Dec. 15, 2027. | Retrospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-06 | Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. | This ASU modernizes and clarifies the threshold for when an entity is required to start capitalizing software costs and is based on when (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. | Annual reporting periods beginning after Dec. 15, 2027, and interim reporting periods within those annual reporting periods. | Prospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-07 | Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract | This ASU refines the scope of Topic 815 to clarify which contracts are subject to derivative accounting. The guidance also provides clarification under Topic 606 for share-based payments from a customer in a revenue contract. | Annual reporting periods beginning after Dec. 15, 2026, and interim reporting periods within those annual reporting periods. | Prospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-08 | Financial Instruments—Credit Losses (Topic 326): Purchased Loans | The ASU expands the population of acquired financial assets accounted for using the gross-up approach. Acquired loans (excluding credit cards) are deemed purchased seasoned loans and accounted for using the gross-up approach upon acquisition if criteria established by the new guidance are met. This change aims to enhance comparability, consistency, and better reflect the economics of acquiring financial assets. | Annual reporting periods beginning after Dec. 15, 2026, and interim reporting periods within those annual reporting periods. | Prospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-09 | Derivatives and Hedging (Topic 815): Hedge Accounting Improvements | The ASU enables entities to apply hedge accounting to a greater number of highly effective economic hedges. | Annual reporting periods beginning after Dec. 15, 2026, and interim reporting periods within those annual reporting periods. | Prospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-11 | Interim Reporting (Topic 270): Narrow-Scope Improvements | This ASU does not change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements. The ASU clarifies that all entities preparing GAAP‑compliant interim financial statements must follow Topic 270. It also creates a complete list of required interim disclosures, adds a principle requiring disclosure of material events occurring after year‑end, and improves guidance on the content and format of interim financial statements. | Interim periods within annual periods beginning after December 15, 2027. | Prospectively | The Company is currently analyzing the impact of this ASU on its financial statements. | |||||
2025-12 | Codification Improvements | These amendments in this ASU update the FASB Accounting Standards Codification® for a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements. | Annual reporting periods beginning after Dec. 15, 2026, and interim reporting periods within those annual reporting periods. | Prospectively | The Company is currently analyzing the impact of this ASU on its financial statements. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 3, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 15, 2019 | |
| 2017 | Mar 9, 2018 | |
| 2016 | Mar 10, 2017 | |
| 2015 | Mar 11, 2016 | |
About New Standards Disclosures
New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.
Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.