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EXHIBIT (12)
Page 1

Republic Bancorp Inc.
Calculations of Ratios of Earnings to Combined Fixed Charges and Dividends on Trust
Preferred Securities and Preferred Stock of Subsidiary

Three Months Ended
    
    
    Nine Months Ended(in thousands)
    
    September, 30
    
    
    September, 302003
    
    
    2002
    
    
    2003
    
    
    2002Including Interest on Deposits:Fixed charges:Total interest expense
    
    $
    29,075
    
    
    $
    33,939
    
    
    $
    89,127
    
    
    $
    103,627Interest portion of rent expense
    
    
    188
    
    
    
    183
    
    
    
    569
    
    
    
    551Dividends on trust preferred securities and
preferred stock of subsidiary
    
    
    1,075
    
    
    
    1,242
    
    
    
    3,225
    
    
    
    4,753Fixed charges including interest on deposits
    
    $
    30,338
    
    
    $
    35,364
    
    
    $
    92,921
    
    
    $
    108,931Earnings:Net income
    
    $
    15,790
    
    
    $
    14,283
    
    
    $
    46,101
    
    
    $
    42,935Income taxes
    
    
    6,523
    
    
    
    5,910
    
    
    
    19,877
    
    
    
    18,565Fixed charges, as above
    
    
    30,338
    
    
    
    35,364
    
    
    
    92,921
    
    
    
    108,931Earnings for purposes of calculation
    
    $
    52,651
    
    
    $
    55,557
    
    
    $
    158,899
    
    
    $
    170,431Ratio of earnings to combined fixed charges and
dividends on trust preferred securities and preferred
stock of subsidiary including interest on deposits
    
    
    1.74
    x
    
    
    1.57
    x
    
    
    1.71
    x
    
    
    1.56Excluding Interest on Deposits:Fixed charges:Total interest expense excluding interest on deposits
    
    $
    15,903
    
    
    $
    15,730
    
    
    $
    46,029
    
    
    $
    45,714Interest portion of rent expense
    
    
    188
    
    
    
    183
    
    
    
    569
    
    
    
    551Dividends on trust preferred securities and preferred
stock of subsidiary
    
    
    1,075
    
    
    
    1,242
    
    
    
    3,225
    
    
    
    4,753Fixed charges excluding interest on deposits
    
    $
    17,166
    
    
    $
    17,155
    
    
    $
    49,823
    
    
    $
    51,018Earnings:Net income
    
    $
    15,790
    
    
    $
    14,283
    
    
    $
    46,101
    
    
    $
    42,935Income taxes
    
    
    6,523
    
    
    
    5,910
    
    
    
    19,877
    
    
    
    18,565Fixed charges, as above
    
    
    17,166
    
    
    
    17,155
    
    
    
    49,823
    
    
    
    51,018Earnings for purposes of calculation
    
    $
    39,479
    
    
    $
    37,348
    
    
    $
    115,801
    
    
    $
    112,518Ratio of earnings to combined fixed charges and dividends
on trust preferred securities and preferred stock of
subsidiary excluding interest on deposits
    
    
    2.30
    x
    
    
    2.18
    x
    
    
    2.32
    x
    
    
    2.21  x






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EXHIBIT (12)
Page 2

Republic Bancorp Inc.
Calculations of Ratios of Earnings to Combined Fixed Charges

Three Months Ended
    
    
    Nine Months Ended(in thousands)
    
    September, 30
    
    
    September, 302003
    
    
    2002
    
    
    2003
    
    
    2002Including Interest on Deposits:Fixed charges:Total interest expense
    
    $
    29,075
    
    
    $
    33,939
    
    
    $
    89,127
    
    
    $
    103,627Interest portion of rent expense
    
    
    188
    
    
    
    183
    
    
    
    569
    
    
    
    551Fixed charges including interest on deposits
    
    $
    29,263
    
    
    $
    34,122
    
    
    $
    89,696
    
    
    $
    104,178Earnings:Net income
    
    $
    15,790
    
    
    $
    14,283
    
    
    $
    46,101
    
    
    $
    42,935Income taxes
    
    
    6,523
    
    
    
    5,910
    
    
    
    19,877
    
    
    
    18,565Fixed charges, as above
    
    
    29,263
    
    
    
    34,122
    
    
    
    89,696
    
    
    
    104,178Earnings for purposes of calculation
    
    $
    51,576
    
    
    $
    54,315
    
    
    $
    155,674
    
    
    $
    165,678Ratio of earnings to combined fixed charges including
interest on deposits
    
    
    1.76
    x
    
    
    1.59
    x
    
    
    1.74
    x
    
    
    1.59  xExcluding Interest on Deposits:Fixed charges:Total interest expense excluding interest on deposits
    
    $
    15,903
    
    
    $
    15,730
    
    
    $
    46,029
    
    
    $
    45,714Interest portion of rent expense
    
    
    188
    
    
    
    183
    
    
    
    569
    
    
    
    551Fixed charges excluding interest on deposits
    
    $
    16,091
    
    
    $
    15,913
    
    
    $
    46,598
    
    
    $
    46,265Earnings:Net income
    
    $
    15,790
    
    
    $
    14,283
    
    
    $
    46,101
    
    
    $
    42,935Income taxes
    
    
    6,523
    
    
    
    5,910
    
    
    
    19,877
    
    
    
    18,565Fixed charges, as above
    
    
    16,091
    
    
    
    15,913
    
    
    
    46,598
    
    
    
    46,265Earnings for purposes of calculation
    
    $
    38,404
    
    
    $
    36,106
    
    
    $
    112,576
    
    
    $
    107,765Ratio of earnings to combined fixed charges excluding
interest on deposits
    
    
    2.39
    x
    
    
    2.27
    x
    
    
    2.42
    x
    
    
    2.33  x