Background

Carving out a strong brand position for Republic Bank.

Republic Bank has served the Louisville region for more than 40 years. Throughout the 1990s and early 2000s, the bank built its reputation on loan products. With many local and regional competitors disappearing and being replaced by large national banking corporations, Republic Bank decided to shift focus away from its loan products and rebrand as a reliable, full-service banking partner to go head-to-head against the big banks. However, this would require the bank establish a strong, ownable brand position to help set it apart. That’s where we came in.

INDUSTRY

Financial

SERVICES

Branding
Media Planning & Buying
Digital Media
Creative
Social Media

Strategic Approach

Changing perceptions to meet new challenges.

To gain an understanding of what customers were looking for in a banking partner, we held focus groups for existing Republic Bank customers and non-customers. We learned that both groups desired a robust suite of products and services, convenient locations and online and mobile banking solutions. But in addition, they wanted a bank they didn’t have to think about – a bank that made life easier. This insight led us to position Republic as the easiest bank to do business with.

Creative Solution

Listening to customers.

With our direction set, we charted course to rebrand Republic Bank as the “easy” bank – which, in a category where every competitor wants to be known as the easiest – isn’t an easy task. But because strong brands start from the inside out, we developed an internal campaign to make the idea of “easy” an integral part of the bank’s culture. Then we took our fresh “easy banking” message to consumers, introducing a tagline that has become synonymous with Republic Bank: It’s just easier here.

Results

Since the “easy” brand launched in 2014, Republic Bank has enjoyed double-digit KPI increase across the board:

  • 23% increase in checking accounts since new brand launch
  • 92% increase in earnings over past five years
  • 40% increase in stock price since branding campaign started

2015

net income

22%

core banking net income

23%

loan income

10%

core banking non-interest net income

16%

record growth in core deposits

$429,000,000

2016

net income

31%

core banking net income

17%

loan income

9%

core banking non-interest net income

14%

core deposits

$312,000,000

2017

net income

14%

core banking net income

10%

loan income

9%

core banking non-interest net income

8%

core deposits

7%

checking accounts

23%

2018

net income

20%

core banking net income

10%

loan income

3%

record growth in core deposits

$21,000,000

2019

net income

18%

mortgage banking

114%

interest income

9%

core banking non-interest net income

20%

deposits

9%

Consistent with research from the AAAAs which concludes that there exists a strong relationship between effective branding and stock performance – earnings for the company have increased 92% over the past five years that the “Easy” campaign has been running.