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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 30, |       
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |       
|                                                                                                                                                                  |                                                                           |                                              |      | 2002               |        |  |  |  | 2001          |        |                   |  |  | 2002 |      |         |         |  | 2001 |  |      |        
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |        
|Including Interest on Deposits:                                                                                                                                   |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |         |         | 
|Fixed charges:                                                                                                                                                    |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |         |         | 
|                                                                                                                                                                  | Total interest expense                                                    |                                              | $    | 33,939             |        |  |  |  | $             | 44,497 |                   |  |  |      | $    | 103,627 |         |  |      |  | $    | 150,327 |         |  | 
|                                                                                                                                                                  | Interest portion of rent expense                                          |                                              |      | 183                |        |  |  |  |               | 177    |                   |  |  |      |      | 551     |         |  |      |  |      | 668     |         |  | 
|                                                                                                                                                                  | Dividends on trust preferred securities and
preferred stock of subsidiary |                                              |      | 1,242              |        |  |  |  |               | 681    |                   |  |  |      |      | 4,753   |         |  |      |  |      | 2,042   |         |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|                                                                                                                                                                  |                                                                           | Fixed charges including interest on deposits |      | $                  | 35,364 |  |  |  |               | $      | 45,355            |  |  |      |      | $       | 108,931 |  |      |  |      | $       | 153,037 |  |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|Earnings:                                                                                                                                                         |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |         |         | 
|                                                                                                                                                                  | Net income                                                                |                                              | $    | 14,283             |        |  |  |  | $             | 13,493 |                   |  |  |      | $    | 42,935  |         |  |      |  | $    | 35,610  |         |  | 
|                                                                                                                                                                  | Income taxes                                                              |                                              |      | 5,910              |        |  |  |  |               | 6,454  |                   |  |  |      |      | 18,565  |         |  |      |  |      | 17,797  |         |  | 
|                                                                                                                                                                  | Fixed charges, as above                                                   |                                              |      | 35,364             |        |  |  |  |               | 45,355 |                   |  |  |      |      | 108,931 |         |  |      |  |      | 153,037 |         |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|                                                                                                                                                                  |                                                                           | Earnings for purposes of calculation         |      | $                  | 55,557 |  |  |  |               | $      | 65,302            |  |  |      |      | $       | 170,431 |  |      |  |      | $       | 206,444 |  |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|Ratio of earnings to combined fixed charges and
dividends on trust preferred securities and preferred stock of subsidiary including interest on deposits          |                                                                           |                                              | 1.57 | x                  |        |  |  |  | 1.44          | x      |                   |  |  |      | 1.56 | x       |         |  |      |  | 1.35 | x       |         | 
|Excluding Interest on Deposits:                                                                                                                                   |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |         |         | 
|Fixed charges:                                                                                                                                                    |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |         |         | 
|                                                                                                                                                                  | Total interest expense excluding interest on deposits                     |                                              | $    | 15,730             |        |  |  |  | $             | 17,044 |                   |  |  |      | $    | 45,714  |         |  |      |  | $    | 59,064  |         |  | 
|                                                                                                                                                                  | Interest portion of rent expense                                          |                                              |      | 183                |        |  |  |  |               | 177    |                   |  |  |      |      | 551     |         |  |      |  |      | 668     |         |  | 
|                                                                                                                                                                  | Dividends on trust preferred securities and preferred
stock of subsidiary |                                              |      | 1,242              |        |  |  |  |               | 681    |                   |  |  |      |      | 4,753   |         |  |      |  |      | 2,042   |         |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|                                                                                                                                                                  |                                                                           | Fixed charges excluding interest on deposits |      | $                  | 17,155 |  |  |  |               | $      | 17,902            |  |  |      |      | $       | 51,018  |  |      |  |      | $       | 61,774  |  |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|Earnings:                                                                                                                                                         |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      |  |      |         |         | 
|                                                                                                                                                                  | Net income                                                                |                                              | $    | 14,283             |        |  |  |  | $             | 13,493 |                   |  |  |      | $    | 42,935  |         |  |      |  | $    | 35,610  |         |  | 
|                                                                                                                                                                  | Income taxes                                                              |                                              |      | 5,910              |        |  |  |  |               | 6,454  |                   |  |  |      |      | 18,565  |         |  |      |  |      | 17,797  |         |  | 
|                                                                                                                                                                  | Fixed charges, as above                                                   |                                              |      | 17,155             |        |  |  |  |               | 17,902 |                   |  |  |      |      | 51,018  |         |  |      |  |      | 61,774  |         |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|                                                                                                                                                                  |                                                                           | Earnings for purposes of calculation         |      | $                  | 37,348 |  |  |  |               | $      | 37,849            |  |  |      |      | $       | 112,518 |  |      |  |      | $       | 115,181 |  |  | 
|                                                                                                                                                                  |                                                                           |                                              |      |                    |        |  |  |  |               |        |                   |  |  |      |      |         |         |  |      | 
|Ratio of earnings to combined fixed charges and dividends
on trust preferred securities and preferred stock of
stock of subsidiary excluding interest on deposits |                                                                           |                                              | 2.18 | x                  |        |  |  |  | 2.11          | x      |                   |  |  |      | 2.21 | x       |         |  |      |  | 1.86 | 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 30, | 
|                                                                           |                                                       |                                              |      |                    |        |  |               | 
|                                                                           |                                                       |                                              |      | 2002               |        |  |               |  | 2001              |        |        |  |  | 2002 |      |         |         |  | 2001 | 
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      | 
|Including Interest on Deposits:                                            |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      |  |      |        
|Fixed charges:                                                             |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      |  |      |        
|                                                                           | Total interest expense                                |                                              | $    | 33,939             |        |  |               |  | $                 | 44,497 |        |  |  |      | $    | 103,627 |         |  |      |  | $    | 150,327 |        
|                                                                           | Interest portion of rent expense                      |                                              |      | 183                |        |  |               |  |                   | 177    |        |  |  |      |      | 551     |         |  |      |  |      | 668     |        
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|                                                                           |                                                       | Fixed charges including interest on deposits |      | $                  | 34,122 |  |               |  |                   | $      | 44,674 |  |  |      |      | $       | 104,178 |  |      |  |      | $       | 150,995 | 
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|Earnings:                                                                  |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      |  |      |        
|                                                                           | Net income                                            |                                              | $    | 14,283             |        |  |               |  | $                 | 13,493 |        |  |  |      | $    | 42,935  |         |  |      |  | $    | 35,610  |        
|                                                                           | Income taxes                                          |                                              |      | 5,910              |        |  |               |  |                   | 6,454  |        |  |  |      |      | 18,565  |         |  |      |  |      | 17,797  |        
|                                                                           | Fixed charges, as above                               |                                              |      | 34,122             |        |  |               |  |                   | 44,674 |        |  |  |      |      | 104,178 |         |  |      |  |      | 150,995 |        
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|                                                                           |                                                       | Earnings for purposes of calculation         |      | $                  | 54,315 |  |               |  |                   | $      | 64,621 |  |  |      |      | $       | 165,678 |  |      |  |      | $       | 204,402 | 
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|Ratio of earnings to combined fixed charges including interest on deposits |                                                       |                                              | 1.59 | x                  |        |  |               |  | 1.45              | x      |        |  |  |      | 1.59 | x       |         |  |      |  | 1.35 | x      
|Excluding Interest on Deposits:                                            |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      |  |      |        
|Fixed charges:                                                             |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      |  |      |        
|                                                                           | Total interest expense excluding interest on deposits |                                              | $    | 15,730             |        |  |               |  | $                 | 17,044 |        |  |  |      | $    | 45,714  |         |  |      |  | $    | 59,064  |        
|                                                                           | Interest portion of rent expense                      |                                              |      | 183                |        |  |               |  |                   | 177    |        |  |  |      |      | 551     |         |  |      |  |      | 668     |        
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|                                                                           |                                                       | Fixed charges excluding interest on deposits |      | $                  | 15,913 |  |               |  |                   | $      | 17,221 |  |  |      |      | $       | 46,265  |  |      |  |      | $       | 59,732  | 
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|Earnings:                                                                  |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         |  |      |  |      |        
|                                                                           | Net income                                            |                                              | $    | 14,283             |        |  |               |  | $                 | 13,493 |        |  |  |      | $    | 42,935  |         |  |      |  | $    | 35,610  |        
|                                                                           | Income taxes                                          |                                              |      | 5,910              |        |  |               |  |                   | 6,454  |        |  |  |      |      | 18,565  |         |  |      |  |      | 17,797  |        
|                                                                           | Fixed charges, as above                               |                                              |      | 15,913             |        |  |               |  |                   | 17,221 |        |  |  |      |      | 46,265  |         |  |      |  |      | 59,732  |        
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|                                                                           |                                                       | Earnings for purposes of calculation         |      | $                  | 36,106 |  |               |  |                   | $      | 37,168 |  |  |      |      | $       | 107,765 |  |      |  |      | $       | 113,139 | 
|                                                                           |                                                       |                                              |      |                    |        |  |               |  |                   |        |        |  |  |      |      |         |         | 
|Ratio of earnings to combined fixed charges excluding
interest on deposits |                                                       |                                              | 2.27 | x                  |        |  |               |  | 2.16              | x      |        |  |  |      | 2.33 | x       |         |  |      |  | 1.89 | x