Steven E. DeWeese
Executive Vice President, Managing Director of Commercial and Private Banking at REPUBLIC BANCORP INC /KY/
Executive
About Steven E. DeWeese
Executive Vice President and Managing Director of Commercial and Private Banking at Republic Bank & Trust Company; age 56; with Republic since 1990 and promoted across business development, retail banking, and executive leadership roles (SVP in 2000; EVP in 2010; Managing Director roles in 2003, 2006, and in 2019 for Private & Business Banking) . The company delivered strong financial performance in recent years, with higher net income and gross operating profit and top-tier TSR versus peers; these company-level outcomes frame the operating backdrop for DeWeese’s business unit leadership .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Net Income ($000s) | 90,374 | 101,371 |
| Gross Operating Profit ($000s) | 113,213 | 127,703 |
| Company TSR (Indexed to $100) | 133.55 | 173.98 |
| Peer Group TSR (KBW NASDAQ Bank Index) | 96.65 | 132.60 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Republic Bancorp, Inc. / Republic Bank & Trust Company | Joined company | 1990 | Early career in business development/retail banking |
| Republic Bancorp, Inc. / Republic Bank & Trust Company | Senior Vice President | 2000 | Executive leadership progression |
| Republic Bancorp, Inc. / Republic Bank & Trust Company | Managing Director, Business Development | 2003 | Led business development activities |
| Republic Bancorp, Inc. / Republic Bank & Trust Company | Managing Director, Retail Banking | 2006 | Oversaw retail banking operations |
| Republic Bancorp, Inc. / Republic Bank & Trust Company | Executive Vice President | 2010 | Senior executive responsibilities |
| Republic Bancorp, Inc. / Republic Bank & Trust Company | Managing Director, Private & Business Banking | 2019 | Directed Private & Business Banking |
| Republic Bancorp, Inc. / Republic Bank & Trust Company | EVP, Managing Director of Commercial & Private Banking | Current | Leads Commercial & Private Banking |
External Roles
- No external directorships or outside public-company roles disclosed for DeWeese in the 2024 or 2025 proxy statements .
Fixed Compensation
- Not a Named Executive Officer (NEO); individual base salary, bonus targets, and perquisites for DeWeese are not itemized in the proxy. NEOs for 2024 were Chair/CEO, CEO/Bank, CFO, President of RPG, and CIOO .
- Company-wide program design (context): base salary reflects responsibilities and market; annual bonuses emphasize Gross Operating Profit (GOP) with flexibility for extraordinary conditions; stock incentives (options, restricted stock, PSUs) granted selectively; clawback policy applies to incentive-based comp tied to financial reporting .
Performance Compensation
- No DeWeese-specific bonus plan metrics or payouts disclosed. Company NEO bonus framework for 2024 used Total Company GOP tiers of $120M (Entry 70%), $124M (Mid 85%), and $128M (Max 100%); Total Company GOP achieved at Maximum Level; NEO awards paid at 100% of potential for roles tied to Total Company GOP .
- LTIP design (context for senior executives): PSUs tied to ROAA and efficiency ratio with peer-ranking gates; settled into restricted stock with mandatory two-year holding; NQSOs vest on multi-year schedules; anti-hedging policy applies to all employees; pledging/margin use is prohibited for NEOs/Directors .
| 2024 Company Bonus Framework (NEO Context) | Entry Level | Mid Level | Maximum Level | Actual |
|---|---|---|---|---|
| Total Company GOP Target ($MM) | 120 | 124 | 128 | Achieved Max |
| Payout % of Potential | 70% | 85% | 100% | 100% |
Equity Ownership & Alignment
- Individual beneficial ownership for DeWeese is not itemized in the share ownership tables. Executives and directors as a group (25 persons) owned 56.4% of combined A+B shares and approximately 73% of combined voting power as of Feb 14, 2025, reflecting significant insider alignment and controlled-company status .
- Stock ownership guidelines apply to CEO/Bank, CFO, President of RPG, CIOO (minimum 2x base salary); shares issued via PSUs/restricted stock must be held two years post-vesting; options exercised must be held two years post-exercise (policy scope for DeWeese not specified) .
- Anti-hedging policy prohibits employees (including executives) and Directors from hedging transactions; pledging and margin accounts are prohibited for NEOs/Directors (no pledging policy disclosure for non-NEO employees) .
Employment Terms
- Company does not offer employment agreements to NEOs; compensation is overseen by an independent Compensation Committee with clawback administration .
- Change-in-control severance agreements (two-year non-compete, accelerated equity vesting, and benefit continuation) are maintained for NEOs; no DeWeese-specific change-in-control agreement is disclosed .
Investment Implications
- Deep tenure and multi-decade progression across commercial, private, and retail banking suggest strong institutional knowledge and execution continuity in core banking operations, supporting stability in deposit, lending, and client service initiatives .
- Limited public detail on DeWeese’s individual pay mix, equity grants, and ownership reduces transparency on personal pay-for-performance alignment compared to NEOs; however, overall insider control (56% ownership; 73% voting) and strict anti-hedging policies mitigate misalignment risk at the senior leadership level .
- Company performance tailwinds (higher GOP and net income; strong TSR vs peers) underpin compensation pools and retention for senior leaders, but lack of individual vesting schedules and grant data for DeWeese limits direct assessment of selling pressure or vesting-driven trading signals at the personal level .