# EDGAR Filing Document

**Accession Number:** 0000921557
**File Stem:** 0001104659-26-047276
**Filing Date:** 2026-4
**Character Count:** 83440
**Document Hash:** b72081be011104c31e252a86f0009fa8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-047276.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0001104659-26-047276

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260423

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** REPUBLIC BANCORP INC /KY/
- **CENTRAL INDEX KEY:** 0000921557
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 610862051
- **STATE OF INCORPORATION:** KY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-24649
- **FILM NUMBER:** 26885615

**BUSINESS ADDRESS:**
- **STREET 1:** REPUBLIC CORPORATE CENTER
- **STREET 2:** 601 WEST MARKET ST
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40202
- **BUSINESS PHONE:** 5025843600

**MAIL ADDRESS:**
- **STREET 1:** 601 W MARKET ST
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40202

?xml version='1.0' encoding='ASCII'? REPUBLIC BANCORP, INC._April 23, 2026

------

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 23, 2026

**REPUBLIC BANCORP, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| Kentucky | 0-24649 | 61-0862051 |
| (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer Identification No.) |
| of incorporation) |  |  |

---

601 West Market Street, Louisville, Kentucky 40202 <br> (Address of principal executive offices) (zip code)

Registrant's telephone number, including area code: (502) 584-3600

NOT APPLICABLE

(Former Name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Class A Common  | RBCAA | The Nasdaq Stock Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02. Results of Operations and Financial Condition.**

On April 23, 2026, Republic Bancorp, Inc. announced its results of operations for the quarter ended March 31, 2026. The public announcement was made by means of an earnings release, the text of which is set forth in Exhibit 99.1 hereto. A financial supplement to this earnings release is attached as Exhibit 99.2 hereto.

**Item 9.01.** **Financial Statements and Exhibits.** 

---

| | | |
|:---|:---|:---|
| (d) | Exhibits. |  |
|  | Exhibit No. |  |
|  | [99.1](rbcaa-20260423xex99d1.htm) | [Republic Bancorp, Inc. Earnings Release dated April 23, 2026.](rbcaa-20260423xex99d1.htm) |
|  | [99.2](rbcaa-20260423xex99d2.htm) | [Earnings Release Financial Supplement – First Quarter 2026.](rbcaa-20260423xex99d2.htm) |
|  | 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |

---

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | Republic Bancorp, Inc. |
|  |  | (Registrant) |
| Date: April 23, 2026 | By: | /s/ Kevin Sipes |
|  |  | Executive Vice President, Chief Financial Officer & Chief Accounting Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Republic Bancorp Reports Solid First Quarter Results**

**Highlighted by Strong Core Bank Net Interest Income Expansion**

LOUISVILLE, Ky.--(BUSINESS WIRE)--April 23, 2026--**Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank & Trust Company (the "Bank").**

Republic Bancorp, Inc. ("Republic" or the "Company") reported first quarter 2026 net income and Diluted Earnings per Class A Common Share ("Diluted EPS") of $42.6 million and $2.18 per share.

Logan Pichel, President and Chief Executive Officer of the Bank, commented, "We delivered a strong start to 2026, achieving net income of $42.6 million, due largely to the solid underlying performance of our Core Banking franchise. Strong Traditional Banking and Warehouse Lending results, combined with disciplined balance sheet management, net interest income growth, and continued net interest margin resilience, more than offset the expected headwinds associated with the nonrenewal of a large Tax Refund Solutions ("TRS") Tax Provider contract. Comparability between the two first-quarter periods was significantly impacted by several nonrecurring or infrequent items, both favorable and unfavorable. These items, net of income taxes, were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a $4.4 million after-tax favorable impact from the 2026 gain on sale of Republic Bank Finance ("RBF");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a $1.8 million after-tax unfavorable impact from a 2026 penalty incurred in connection with the strategic early payoff of long-term Federal Home Loan Bank ("FHLB") advances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a $8.4 million after-tax unfavorable impact in 2026 associated with the nonrenewal of a large TRS Tax Provider contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a $3.3 million after-tax unfavorable impact for a 2025 gain on sale of Visa Class B-1 common shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a $1.3 million after-tax unfavorable impact related to a 2025 insurance recovery; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a $4.6 million after-tax favorable impact related to the 2025 core system deconversion and related consulting fees."

------

The following table illustrates the Total Company<sup>(1)</sup>, Core Bank, and Republic Processing Group ("RPG") actual and adjusted net income (non-GAAP) results for the first quarters of 2026 and 2025. Adjusted net income reflects management's internal view of the Company's operating performance.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Total Company Net Income** | **Total Company Net Income** | **Total Company Net Income** | **Total Company Diluted Earnings Per Class A Common Share** | **Total Company Diluted Earnings Per Class A Common Share** | **Total Company Diluted Earnings Per Class A Common Share** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | |
| <br>***(dollars in thousands, except per share data)*** | **2026** | **2025** | $**%**<br>**Change** | **2026** | **2025** | $**%**<br>**Change** |
| &nbsp;&nbsp;&nbsp;**Net Income, As Reported (GAAP)** | $**42569** | $**47268** | **(10)%** | $**2.18** | $**2.42** | **(10)%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Republic Bank Finance, net of tax | (4435) | - | - | (0.24) | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early Termination Penalty - FHLB Advances, net of tax | 1757 | - | - | 0.10 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonrenewal of a Large Tax Provider Contract, net of tax | - | (8438) | - | - | (0.44) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Visa Class B-1 shares, net of tax | - | (3287) | - | - | (0.17) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance Recovery, net of tax | - | (1263) | - | - | (0.06) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core System Deconversion and Consulting Fees, net of tax | - | 4593 | - | - | 0.24 | - |
| &nbsp;&nbsp;&nbsp;**Adjusted Net Income (Non-GAAP)** | $**39891** | $**38873** | **3%** | $**2.04** | $**1.99** | **3%** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Core Bank Net Income** | **Core Bank Net Income** | **Core Bank Net Income** | **Republic Processing Group Net Income** | **Republic Processing Group Net Income** | **Republic Processing Group Net Income** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | |
| <br>***(dollars in thousands, except per share data)*** | **2026** | **2025** | $**%**<br>**Change** | **2026** | **2025** | $**%**<br>**Change** |
| &nbsp;&nbsp;&nbsp;**Net Income, As Reported (GAAP)** | $**23759** | $**17361** | **37%** | $**18810** | $**29907** | **(37)%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Republic Bank Finance, net of tax | (4435) | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early Termination Penalty - FHLB Advances, net of tax | 1757 | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonrenewal of a Large Tax Provider Contract, net of tax | - | - | - | - | (8438) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Visa Class B-1 shares, net of tax | - | (3287) | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance Recovery, net of tax | - | (1263) | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core System Deconversion and Consulting Fees, net of tax | - | 4593 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;**Adjusted Net Income (Non-GAAP)** | $**21081** | $**17404** | **21%** | $**18810** | $**21469** | **(12)%** |

---

Pichel further commented, "As reflected in the table above, adjusted net income increased 3% from the first quarter of 2025 to the first quarter of 2026 after excluding nonrecurring or infrequent items. Adjusted net income for the Core Bank was $21.1 million for the first quarter of 2026, representing an increase of $3.7 million, or 21%, over the first quarter of 2025,

while adjusted net income for RPG declined 12% for the same periods to $18.8 million.

Our first quarter 2026 results highlighted the strength of our core banking fundamentals, including disciplined expense management, solid credit performance, and strong Core Bank net interest income and net interest margin expansion. Our Core Banking segments, particularly Traditional Banking and Warehouse Lending, delivered a strong start to the year and were the primary drivers of overall performance. These results underscore our ability to generate sustainable net interest income growth in a dynamic rate environment and reflect the resilience of our business model and the effectiveness of our interest rate risk management strategies.

In addition to our solid quarterly operating results, we were recognized during the first quarter for our continued strong performance. In January, Newsweek and Plant A Insights Group named us one of *America's Best Regional Banks 2025* for the third consecutive year. This recognition—based on an evaluation of more than 9,000 financial institutions, over 70,000 customer surveys, and millions of social media reviews—underscores our ongoing commitment to customer service and community-focused, relationship-based banking. While we are proud of this accolade and our first-quarter accomplishments, we remain intensely focused on delivering a consistent, high-quality operating performance. I want to thank our clients for their continued trust and our associates for their dedication and commitment, which are fundamental to our success," concluded Pichel.

------

The following table highlights Republic's key metrics for the three months ended March 31, 2026, and 2025. Additional financial details, including segment-level data, are provided in the financial supplement to this release. *The attached digital version of this release includes the financial supplement as an appendix. The financial supplement may also be found as Exhibit 99.2 of the Company's Form 8-K filed with the SEC on April 23, 2026.*

---

| | | | |
|:---|:---|:---|:---|
| | **Total Company Financial Performance Highlights** | **Total Company Financial Performance Highlights** | **Total Company Financial Performance Highlights** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | |
| <br>***(dollars in thousands, except per share data)*** | **2026** | **2025** | $**%**<br>**Change** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Before Income Tax Expense | $55385 | $59962 | (8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Income | 42569 | 47268 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted EPS | 2.18 | 2.42 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on Average Assets ("ROA") | 2.40% | 2.61% | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on Average Equity ("ROE") | 15.28 | 18.74 | (18) |

---

**Results of Operations for the First Quarter of 2026 Compared to the First Quarter of 2025**

**Core Bank**<sup>(1)</sup>

Net income for the Core Bank was $23.8 million for the first quarter of 2026, a $6.4 million, or 37%, increase from the $17.4 million earned for the first quarter of 2025. Adjusted net income for the Core Bank was $21.1 million for the first quarter of 2026, a $3.7 million, or 21%, increase from the $17.4 million earned for the first quarter of 2025. Adjusted net income for the Core Bank includes the adjustments for the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a $4.4 million after-tax 2026 gain on sale of RBF;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a $1.8 million after-tax 2026 penalty incurred in connection with the strategic early payoff of FHLB advances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a $3.3 million after-tax 2025 gain on sale of Visa Class B-1 shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a $1.3 million after-tax 2025 impact related to an insurance recovery; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a $4.6 million after-tax 2025 impact related to the core system deconversion and related consulting fees.

As discussed in detail below, a solid increase in net interest income was further complemented by flat adjusted noninterest expenses, driving the overall Core Bank performance for the quarter.

*Net Interest Income –* Core Bank net interest income was $63.2 million for the first quarter of 2026, an increase of $6.9 million, or 12%, over the $56.3 million reported for the first quarter of 2025. This growth was driven by net interest margin expansion, as the Core Bank's net interest margin rose 26 basis points to 3.96%. The margin improvement primarily reflected a decline in the cost of deposits, combined with higher yields on and growth in average interest-earning assets.

Significant items of note impacting the Core Bank's net interest income and net interest margin expansion between the first quarter of 2026 and the first quarter of 2025 were as follows:

**Interest-Earning Assets**

● Core Bank average interest-earning cash declined to $344 million with a weighted-average yield of 3.66% during the first quarter of 2026, compared to $517 million and a 4.45% yield for the first quarter of 2025. The decrease in average balances primarily reflected the deployment of excess liquidity into the investment portfolio, which offered more attractive yields due to a steeper yield curve, while the decline in yield was directly tied to the decrease in the overnight Federal Funds Target Rate.

● Average investments increased to $907 million with a weighted-average yield of 4.24% during the first quarter of 2026, compared to $620 million and a 3.48% yield for the first quarter of 2025. The growth in average balances and higher yields reflect the Company's ongoing deployment of excess liquidity into longer-term investment securities over recent quarters, which offered more attractive yields than overnight, interest-earning cash alternatives.

● Average outstanding Warehouse lines of credit increased $152 million, or 33%, from $458 million during the first quarter of 2025 to $610 million for the first quarter of 2026, while the weighted-average yield declined 72 basis

------

points to 6.34%. Average committed Warehouse lines expanded from $968 million to $1.22 billion over the same period, as average usage rates increased from 47% to 50%.

● Traditional Bank average loans increased $42 million from $4.58 billion during the first quarter of 2025 to $4.62 billion during the first quarter of 2026, while the weighted-average yield increased 3 basis points to 5.64%. The period-over-period increase in loan yield reflected the replacement of lower-yielding loans through principal amortization and payoffs with new originations that generally earned higher yields. In addition, the year-over-year comparison of average loans was negatively impacted by the sale of $81 million of loans and lease financing receivables from RBF during the first quarter of 2026 that were previously held for investment.

**Funding Liabilities (Deposits and Borrowings)**

As it relates to the Core Bank's decrease in interest expense and the cost of its interest-bearing liabilities:

● The weighted-average cost of total interest-bearing deposits declined from 2.26% during the first quarter of 2025 to 1.98% for the first quarter of 2026, while average interest-bearing deposit balances increased $277 million, or 8%. The growth in balances was led by a combined $326 million increase in business and consumer money market accounts, time deposits, brokered deposits, and reciprocal deposits, all of which generally carry higher rates. These increases were partially offset by a $49 million decrease in average transaction account balances, including an $11 million decline in third-party listing service deposits.

● Average FHLB advances declined $94 million from the first quarter of 2025 to the first quarter of 2026, while the weighted-average cost decreased 20 basis points to 4.19%. The lower cost primarily reflected reduced usage of overnight borrowings and a decline in overnight borrowing rates driven by the decrease in the Federal Funds Target Rate. In addition, the Core Bank prepaid $220 million of higher-cost FHLB advances in late March 2026, which carried a weighted-average rate of 4.57%, and incurred a $2.3 million pre-tax early termination penalty. Based on the current interest rate environment, management expects to recoup this penalty within approximately 1.2 years through a combination of reducing overnight cash or borrowing at lower overnight rates.

The following tables present by reportable segment the overall changes in the Core Bank's net interest income, net interest margin, as well as average and period-end loan balances:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Net Interest Income** | **Net Interest Income** | **Net Interest Income** | **Net Interest Margin** | **Net Interest Margin** | **Net Interest Margin** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | |
| <br>***(dollars in thousands)***<br>**Reportable Segment** | **2026** | **2025** | <br>**Change** | **2026** | **2025** | <br>**Change** |
| Traditional Banking | $59327 | $53321 | $6006 | 4.10% | 3.79% | 0.31% |
| Warehouse Lending | 3900 | 3028 | 872 | 2.59 | 2.68 | (0.09) |
| &nbsp;&nbsp;Total Core Bank | $63227 | $56349 | $6878 | 3.96 | 3.70 | 0.26 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Average Loan Balances** | **Average Loan Balances** | **Average Loan Balances** | **Average Loan Balances** | **Period-End Loan Balances** | **Period-End Loan Balances** | **Period-End Loan Balances** | **Period-End Loan Balances** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** |  |  | **Mar. 31,** | **Mar. 31,** |  |  |
| <br>***(dollars in thousands)***<br>**Reportable Segment** | **2026** | **2025** | **$ Change** | **% Change** | **2026** | **2025** | **$ Change** | **% Change** |
| Traditional Banking | $4618228 | $4575790 | $42438 | 1% | $4596291 | $4566359 | $29932 | 1% |
| Warehouse Lending | 610442 | 458657 | 151785 | 33 | 629848 | 569502 | 60346 | 11 |
| &nbsp;&nbsp;&nbsp;Total Core Bank | $5228670 | $5034447 | $194223 | 4 | $5226139 | $5135861 | $90278 | 2 |

---

*Provision for Expected Credit Losses*<sup>(2)</sup> – The Core Bank's Provision was a net charge of $394,000 for the first quarter of 2026 compared to a net credit of $722,000 for the first quarter of 2025.

The net charge of $394,000 for the first quarter of 2026 was driven by the following:

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● The Traditional Bank recorded a net charge to the Provision of $705,000 during the first quarter of 2026 primarily related to general formula reserves tied to period-end loan growth of $50 million.

● Warehouse Lending recorded a net credit to the Provision of $311,000 resulting from general formula reserves applied to a $124 million, or 16%, decrease in the outstanding Warehouse spot balances during the first quarter of 2026.

The net credit of $722,000 for the first quarter of 2025 was driven by the following:

● The Traditional Bank recorded a credit to the Provision of $414,000 as a result of a reclassification of $5 million of consumer credit cards from loans held for investment into loans held for sale during the first quarter of 2025.

● The Traditional Bank recorded a net credit to the Provision of $491,000 during the first quarter of 2025 primarily related to a general improvement in the life-of-loan historical loss rates within certain categories of the Traditional Bank loan portfolio combined with a minimal net change in the Traditional Bank period-end loan balances for the quarter.

● Warehouse Lending recorded a net charge to the Provision of $47,000 resulting from general formula reserves applied to a $19 million increase in the outstanding Warehouse spot balances during the first quarter of 2025.

As a percentage of total loans, the Core Bank's Allowance<sup>(</sup><sup>2)</sup> increased 9 basis points from March 31, 2025, to March 31, 2026. The table below provides a view of the Company's percentage of Allowance-to-total-loans by reportable segment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **As of Mar. 31, 2026** | **As of Mar. 31, 2026** | **As of Mar. 31, 2026** | **As of Mar. 31, 2025** | **As of Mar. 31, 2025** | **As of Mar. 31, 2025** | **Year-over-Year Change** | **Year-over-Year Change** |
| <br>***(dollars in thousands)***<br>**Reportable Segment** | <br>**Gross Loans** | <br>**Allowance** | **Allowance**<br>**to Loans** | <br>**Gross Loans** | <br>**Allowance** | **Allowance**<br>**to Loans** | **Allowance**<br>**to Loans** | <br>**% Change** |
| &nbsp;&nbsp;&nbsp;Traditional Bank | $4596291 | $64041 | 1.39% | $4566359 | $58851 | 1.29% | 0.10% | 8% |
| &nbsp;&nbsp;&nbsp;Warehouse Lending | 629848 | 1571 | 0.25 | 569502 | 1421 | 0.25 |  |  |
| **Total Core Bank** | 5226139 | 65612 | 1.26 | 5135861 | 60272 | 1.17 | 0.09 | 8 |
| &nbsp;&nbsp;&nbsp;Tax Refund Solutions | 9159 | 6344 | 69.27 | 36185 | 25981 | 71.80 | (2.53) | (4) |
| &nbsp;&nbsp;&nbsp;Republic Credit Solutions | 131675 | 19884 | 15.10 | 117747 | 20050 | 17.03 | (1.93) | (11) |
| **Total Republic Processing Group** | 140834 | 26228 | 18.62 | 153932 | 46031 | 29.90 | (11.28) | (38) |
| **Total Company** | $5366973 | $91840 | 1.71% | $5289793 | $106303 | 2.01% | (0.30)% | (15)% |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** | **Allowance for Credit Losses on Loans Roll-Forward** |
|  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  | **Three Months Ended March 31,**  |
|  | **2026** | **2026** | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** | **2025** | **2025** |
| ***(in thousands)*** | **Beginning**  |  | **Charge-** |  | **Ending** | **Beginning**  |  | **Charge-** |  | **Ending** |
| **Reportable Segment** | **Balance** | **Provision** | **offs** | **Recoveries** | **Balance** | **Balance** | **Provision** | **offs** | **Recoveries** | **Balance** |
| &nbsp;&nbsp;&nbsp;Traditional Bank | $63662 | $705 | $(481) | $155 | $64041 | $59756 | $(769) | $(271) | $135 | $58851 |
| &nbsp;&nbsp;&nbsp;Warehouse Lending | 1882 | (311) |  |  | 1571 | 1374 | 47 |  |  | 1421 |
| **Total Core Bank** | 65544 | 394 | (481) | 155 | 65612 | 61130 | (722) | (271) | 135 | 60272 |
| &nbsp;&nbsp;&nbsp;Tax Refund Solutions | 333 | 5342 |  | 669 | 6344 | 9861 | 15427 |  | 693 | 25981 |
| &nbsp;&nbsp;&nbsp;Republic Credit Solutions | 19475 | 4044 | (3936) | 301 | 19884 | 20987 | 2967 | (4254) | 350 | 20050 |
| **Total Republic Processing Group** | 19808 | 9386 | (3936) | 970 | 26228 | 30848 | 18394 | (4254) | 1043 | 46031 |
| **Total Company** | $85352 | $9780 | $(4417) | $1125 | $91840 | $91978 | $17672 | $(4525) | $1178 | $106303 |

---

------

The table below presents the Core Bank's credit quality metrics:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Quarters Ended:** | **Quarters Ended:** | **Years Ended:** | **Years Ended:** | **Years Ended:** |
| <br>**Core Banking Credit Quality Ratios** | **Mar. 31,**<br>**2026** | **Mar. 31,**<br>**2025** | **Dec. 31,**<br>**2025** | **Dec. 31,**<br>**2024** | **Dec. 31,**<br>**2023** |
| Nonperforming loans to total loans | 0.61% | 0.44% | 0.45% | 0.44% | 0.39% |
| Nonperforming assets to total loans (including OREO) | 0.63 | 0.46 | 0.47 | 0.46 | 0.41 |
| Delinquent loans\* to total loans | 0.63 | 0.18 | 0.26 | 0.20 | 0.16 |
| Net charge-offs to average loans | 0.03 | 0.01 | 0.03 | 0.05 | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Quarterly rates annualized) |  |  |  |  |  |
| *OREO = Other Real Estate Owned* |  |  |  |  |  |

---

*\*Loans 30-days-or-more past due at the time the second contractual payment is past due.*

*Noninterest Income* – Core Bank noninterest income increased $415,000 from $15.4 million for the first quarter of 2025 to $15.8 million for the first quarter of 2026. Adjusted noninterest income<sup>(3)</sup> was $10.0 million for the first quarter of 2026, an increase of $231,000, or 2%, from $9.7 million for the first quarter of 2025. Adjusted noninterest income<sup>(3)</sup> reflects the exclusion of the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a $5.9 million pre-tax 2026 gain on sale of RBF;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a $4.1 million pre-tax 2025 gain on sale of Visa Class B-1 shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a $1.6 million pre-tax 2025 related to an insurance recovery.

The primary driver of the increase in adjusted noninterest income was service charges on deposits, which increased $422,000, or 12%, driven by an increased volume of activity related fees, particularly for payments made for insufficient funds.

*Noninterest Expense* – The Core Bank's noninterest expenses were $47.3 million for the first quarter of 2026, a decrease of $3.5 million, or 7%, from the first quarter of 2025. Adjusted noninterest expenses<sup>(4)</sup> were $45.0 million for the first quarter of 2026 compared to $45.1 million for the first quarter of 2025. Adjusted noninterest expense<sup>(4)</sup> reflects the exclusion of the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a $2.3 million pre-tax 2026 penalty incurred in connection with the strategic early payoff of FHLB advances and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a $5.7 million pre-tax 2025 impact related to the core system deconversion and related consulting fees.

Notable fluctuations for adjusted noninterest expense were as follows:

● Salaries and Benefits increased $411,000, or 2%, as a slight decrease in full-time equivalent employees was more than offset by annual merit based salary increases and higher bonus accruals.

● Core Bank Technology expense declined $632,000, or 8%, driven by cost savings realized following the core system conversion completed in mid-October 2025.

● Interchange related expense decreased $238,000 due primarily to lower debit card and credit card processing costs driven primarily by savings from the core system conversion.

------

**Republic Processing Group**<sup>(1)</sup>

RPG reported net income of $18.8 million for the first quarter of 2026, an $11.1 million decrease from the $29.9 million reported for the first quarter of 2025. Notable net income fluctuations within RPG's operating segments were as follows:

<u>Tax Refund Solutions</u>

The TRS segment derives substantially all of its revenues during the first and second quarters of the year. TRS recorded net income of $9.7 million for the first quarter of 2026 compared to $19.6 million for the same period in 2025, with the decline primarily reflecting the previously disclosed nonrenewal of a large Tax Provider contract. Excluding the impact of this contract nonrenewal, TRS net income declined $1.5 million, or 13%, from the first quarter of 2025 to the first quarter of 2026. This decrease was generally due to modest declines in both Refunds Advance and funded Refund Transfer activity.

<u>Republic Payment Solutions</u>

Net income at RPS was $2.1 million for the first quarter of 2026, an $835,000 decrease compared to the first quarter of 2025. The decline in net income at RPS was driven primarily by lower net interest income, as the segment earned a reduced yield of 3.69% on its $347 million average of deposit balances during the first quarter of 2026, compared to a yield of 4.55% on $373 million in average deposit balances for the first quarter of 2025. The lower earnings rate reflected the 75-basis point decline in the Federal Funds Target Rate between the first quarter of 2025 and the first quarter of 2026.

<u>Republic Credit Solutions</u>

RCS net income declined by $362,000, or 5%, to $7.0 million for the first quarter of 2026, compared to $7.4 million for the first quarter of 2025. The decrease was primarily driven by the negative impact of higher Provisions within the segment's line of credit products, reflecting a change in mix toward the LOC II product, which carries significantly higher provisioning requirements over the other RCS products. Partially offset the higher Provisions, RCS Program fees expanded generally due to increased originations across the different product lines.

*Republic Bancorp, Inc. (the "Company") is the parent company of Republic Bank & Trust Company (the "Bank"). The Bank currently has 47 banking centers in communities within five metropolitan statistical areas ("MSAs") across five states: 22 banking centers located within the Louisville MSA in Louisville, Prospect, Shelbyville, and Shepherdsville in Kentucky, and Floyds Knobs, Jeffersonville, and New Albany in Indiana; six banking centers within the Lexington MSA in Georgetown and Lexington in Kentucky; eight banking centers within the Cincinnati MSA in Cincinnati and West Chester in Ohio, and Bellevue, Covington, Crestview Hills, and Florence in Kentucky; seven banking centers within the Tampa MSA in Largo, New Port Richey, St. Petersburg, Seminole, and Tampa in Florida; and four banking centers within the Nashville MSA in Franklin, Murfreesboro, Nashville and Spring Hill, Tennessee. The Bank offers online banking at www.republicbank.com. The Company is headquartered in Louisville, Kentucky, and as of March 31, 2026, had approximately $7.25 billion in total assets. The Company's Class A Common Stock is listed under the symbol "RBCAA" on the NASDAQ Global Select Market.*

**Republic Bank. Time to Thrive.**™

***Forward-Looking Statements***

*This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in the preceding paragraphs are based on our current expectations and assumptions regarding our business, the future impact to our balance sheet and income statement resulting from changes in interest rates, the yield curve, the future ability of the Core Bank to recoup its FHLB early termination fee based on the current interest rate environment, the ability to develop products and strategies in order to meet the Company's long-term strategic goals and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Actual results could differ materially based upon factors disclosed from time to time in the Company's filings with the U.S. Securities and Exchange Commission, including those factors set forth as "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended December 31, 2025. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.*

------

**Footnotes:**

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Company is divided into five reportable segments: Traditional Banking, Warehouse Lending, Tax Refund Solutions ("TRS"), Republic Payment Solutions ("RPS"), and Republic Credit Solutions ("RCS"). Management considers the first two segments to collectively constitute "Core Bank" or "Core Banking" operations, while the last three segments collectively constitute Republic Processing Group ("RPG") operations.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(2)* *Provision or Provision for expected credit loss expense includes provisions for losses on on-balance sheet loans with changes reflected in the Allowance, or Allowance for credit losses on loans. Provision expense for off-balance sheet credit exposures is recorded as a component of other noninterest expense, with changes reflected in the Allowance for credit losses on off-balance sheet credit exposures, a component of other liabilities on the Company's balance sheet.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(3)* *The following table provides a reconciliation of Core Bank's pre-tax noninterest income in accordance with GAAP, to an adjusted pre-tax noninterest income, a non-GAAP disclosure. Adjusted noninterest income reflects management's internal view of the Company's operating performance.* 

---

| | | | |
|:---|:---|:---|:---|
| | **Core Bank Noninterest Income** | **Core Bank Noninterest Income** | **Core Bank Noninterest Income** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | |
| <br>***(dollars in thousands, except per share data)*** | **2026** | **2025** | $**%**<br>**Change** |
| &nbsp;&nbsp;&nbsp;Noninterest Income, As Reported (GAAP) | $15799 | $15384 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Republic Bank Finance | (5845) | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Visa Class B-1 shares | - | (4090) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance Recovery | - | (1571) | - |
| &nbsp;&nbsp;&nbsp;Adjusted Noninterest Income (Non-GAAP) | $9954 | $9723 | 2% |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(4)* *The following table provides a reconciliation of Core Bank's pre-tax noninterest expense in accordance with GAAP, to an adjusted pre-tax noninterest expense, a non-GAAP disclosure. Adjusted noninterest expense reflects management's internal view of the Company's operating performance.* 

---

| | | | |
|:---|:---|:---|:---|
| | **Core Bank Noninterest Expense** | **Core Bank Noninterest Expense** | **Core Bank Noninterest Expense** |
| | **Three Months Ended Mar. 31,** | **Three Months Ended Mar. 31,** | |
| <br>***(dollars in thousands, except per share data)*** | **2026** | **2025** | $**%**<br>**Change** |
| &nbsp;&nbsp;&nbsp;Noninterest Expense, As Reported (GAAP) | $47324 | $50778 | (7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early Termination Penalty - FHLB Advances | (2316) | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core System Deconversion and Consulting Fees | - | (5714) | - |
| &nbsp;&nbsp;&nbsp;Adjusted Noninterest Expense (Non-GAAP) | $45008 | $45064 | -% |

---

*NM – Not meaningful*

*NA – Not applicable*

CONTACT:

Republic Bancorp, Inc.

Kevin Sipes

Executive Vice President & Chief Financial Officer

(502) 560-8628

------

## Exhibit 99.2

**Exhibit 99.2**

![Graphic](rbcaa-20260423xex99d2001.jpg)

**EARNINGS RELEASE FINANCIAL SUPPLEMENT**

**FIRST QUARTER 2026**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [**BALANCE SHEET DATA**](#BALANCE_SHEET_SPOT) | S-2 |
| [**AVERAGE BALANCE SHEET DATA**](#AverageBalanceSheetData_297161) | S-3 |
| [**TOTAL COMPANY AVERAGE BALANCE SHEETS AND INTEREST RATES**](#BALANCE_SHEET_AVG_INTRATES) | S-4 |
| [**INCOME STATEMENT DATA**](#IncomeStatementData_57609) | S-5 |
| [**SELECTED DATA AND RATIOS**](#SDR) | S-6 |
| [**LOAN COMPOSITION**](#LOANS)  | S-7 |
| [**ALLOWANCE FOR CREDIT LOSSES ON LOANS**](#Loancompostion) | S-7 |
| [**CREDIT QUALITY DATA AND RATIOS**](#CreditQualityDataandRatios_752372) | S-8 |
| [**SEGMENT DATA**](#SEGMENT_DATA) | S-9 |
| [**FOOTNOTES**](#FOOTNOTES) | S-11 |

---

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026**

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Balance Sheet Data** |  |  |  |  |  |
|  | **As of**  | **As of**  | **As of**  | **As of**  | **As of**  |
|  | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| **Assets:** |  |  |  |  |  |
| Cash and cash equivalents | $599105 | $219972 | $484238 | $484808 | $793020 |
| Investment securities | 886641 | 890582 | 849226 | 711906 | 615663 |
| Loans held for sale (1) | 41782 | 117350 | 40206 | 36802 | 41265 |
| Loans | 5366973 | 5446329 | 5281374 | 5373020 | 5289793 |
| Allowance for credit losses | (91840) | (85352) | (79865) | (81760) | (106303) |
| &nbsp;&nbsp;&nbsp;Loans, net | 5275133 | 5360977 | 5201509 | 5291260 | 5183490 |
| Federal Home Loan Bank ("FHLB") stock, at cost | 27014 | 32114 | 25849 | 24568 | 26748 |
| Premises and equipment, net | 40843 | 35986 | 37884 | 36651 | 31996 |
| Right-of-use assets | 30443 | 31330 | 32804 | 34327 | 35857 |
| Goodwill | 40516 | 40516 | 40516 | 40516 | 40516 |
| Other real estate owned ("OREO") | 896 | 1277 | 1246 | 1054 | 1107 |
| Bank owned life insurance ("BOLI") | 111272 | 110721 | 109773 | 108738 | 107918 |
| Other assets and accrued interest receivable | 199634 | 201236 | 191668 | 200287 | 197975 |
| Total assets | $7253279 | $7042061 | $7014919 | $6970917 | $7075555 |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |
| Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing  | $1275427 | $1173461 | $1239023 | $1223016 | $1375234 |
| &nbsp;&nbsp;&nbsp;Interest-bearing  | 4233693 | 4029686 | 4099322 | 4094223 | 4030658 |
| Total deposits | 5509120 | 5203147 | 5338345 | 5317239 | 5405892 |
| Securities sold under agreements to |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;repurchase ("SSUAR") and other short-term borrowings  | 81337 | 88504 | 74522 | 72103 | 89718 |
| Operating lease liabilities | 31492 | 32370 | 33833 | 35335 | 36831 |
| Federal Home Loan Bank advances | 366500 | 506000 | 375000 | 370000 | 370000 |
| Other liabilities and accrued interest payable | 131443 | 109747 | 108699 | 116134 | 139025 |
| Total liabilities | 6119892 | 5939768 | 5930399 | 5910811 | 6041466 |
| Stockholders' equity | 1133387 | 1102293 | 1084520 | 1060106 | 1034089 |
| Total liabilities and stockholders' equity | $7253279 | $7042061 | $7014919 | $6970917 | $7075555 |

---

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Average Balance Sheet Data** |  |  |  |  |  |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| **Assets:** |  |  |  |  |  |
| **Interest-earning assets:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Federal funds sold and other interest-earning deposits | $344353 | $407022 | $476681 | $622909 | $516785 |
| &nbsp;&nbsp;&nbsp;Investment securities, including FHLB stock | 906692 | 901006 | 806304 | 686223 | 619525 |
| &nbsp;&nbsp;&nbsp;Loans, including loans held for sale | 5464500 | 5365734 | 5281369 | 5318666 | 5497968 |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | 6715545 | 6673762 | 6564354 | 6627798 | 6634278 |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses | (89017) | (79832) | (81196) | (105726) | (102271) |
| **Noninterest-earning assets:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-earning cash and cash equivalents | 132446 | 70289 | 82616 | 125098 | 389994 |
| &nbsp;&nbsp;&nbsp;Premises and equipment, net | 37907 | 38868 | 37557 | 33250 | 32513 |
| &nbsp;&nbsp;&nbsp;Bank owned life insurance | 111300 | 110385 | 109381 | 108416 | 107599 |
| &nbsp;&nbsp;&nbsp;Other assets | 286831 | 273906 | 279166 | 273195 | 273643 |
| Total assets | $7195012 | $7087378 | $6991878 | $7062031 | $7335756 |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |
| **Interest-bearing liabilities:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest-bearing deposits | $4157622 | $4084332 | $4078925 | $4081209 | $4041991 |
| &nbsp;&nbsp;&nbsp;SSUARs and other short-term borrowings | 89307 | 133851 | 73135 | 87760 | 108760 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 426794 | 377793 | 372283 | 370000 | 520778 |
| &nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 4673723 | 4595976 | 4524343 | 4538969 | 4671529 |
| **Noninterest-bearing liabilities and Stockholders' Equity:** | **Noninterest-bearing liabilities and Stockholders' Equity:** | **Noninterest-bearing liabilities and Stockholders' Equity:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 1257977 | 1261600 | 1254609 | 1323622 | 1491084 |
| &nbsp;&nbsp;&nbsp;Other liabilities | 133479 | 125515 | 131269 | 143941 | 150299 |
| &nbsp;&nbsp;&nbsp;Stockholders' equity | 1129833 | 1104287 | 1081657 | 1055499 | 1022844 |
| Total liabilities and stockholders' equity | $7195012 | $7087378 | $6991878 | $7062031 | $7335756 |

---

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

**Total Company Average Balance Sheet and Interest Rates**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
|  | **Average**<br>**Balance** | <br>**Interest** | **Average**<br>**Rate** | **Average**<br>**Balance** | <br>**Interest** | **Average**<br>**Rate** |
| **ASSETS** |  |  |  |  |  |  |
| **Interest-earning assets:** |  |  |  |  |  |  |
| Federal funds sold and other interest-earning deposits | $344353 | $3107 | 3.66% | $516785 | $5670 | 4.45% |
| Investment securities, including FHLB stock (a) | 906692 | 9469 | 4.24 | 619525 | 5311 | 3.48 |
| TRS Refund Advances (b) | 82159 | 12351 | 60.97 | 276877 | 33290 | 48.76 |
| RCS LOC products (b)  | 44239 | 12441 | 114.05 | 45514 | 12237 | 109.04 |
| Other RPG loans (c) | 109432 | 2626 | 9.73 | 141130 | 2004 | 5.76 |
| Outstanding Warehouse lines of credit | 610442 | 9549 | 6.34 | 458657 | 7991 | 7.07 |
| Traditional Bank loans (c) | 4618228 | 64244 | 5.64 | 4575790 | 63335 | 5.61 |
| Total loans (d) | 5464500 | 101211 | 7.51 | 5497968 | 118857 | 8.77 |
| Total interest-earning assets | 6715545 | 113787 | 6.87 | 6634278 | 129838 | 7.94 |
| Allowance for credit losses | (89017) |  |  | (102271) |  |  |
| **Noninterest-earning assets:** |  |  |  |  |  |  |
| Noninterest-earning cash and cash equivalents | 132446 |  |  | 389994 |  |  |
| Premises and equipment, net | 37907 |  |  | 32513 |  |  |
| Bank owned life insurance | 111300 |  |  | 107599 |  |  |
| Other assets (a) | 286831 |  |  | 273643 |  |  |
| Total assets | $7195012 |  |  | $7335756 |  |  |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |  |  |  |
| **Interest-bearing liabilities:** |  |  |  |  |  |  |
| Transaction accounts | $1665041 | $1810 | 0.44% | $1736500 | $2667 | 0.62% |
| Money market accounts | 1551952 | 9096 | 2.38 | 1348717 | 9475 | 2.85 |
| Time deposits | 497607 | 4478 | 3.65 | 413082 | 3972 | 3.90 |
| Reciprocal money market and time deposits | 327066 | 2180 | 2.70 | 296373 | 2478 | 3.39 |
| Brokered deposits | 115956 | 1268 | 4.43 | 247319 | 2786 | 4.57 |
| Total interest-bearing deposits | 4157622 | 18832 | 1.84 | 4041991 | 21378 | 2.14 |
| SSUARs and other short-term borrowings | 89307 | 89 | 0.40 | 108760 | 137 | 0.51 |
| Federal Home Loan Bank advances | 426794 | 4414 | 4.19 | 520778 | 5635 | 4.39 |
| Total interest-bearing liabilities | 4673723 | 23335 | 2.02 | 4671529 | 27150 | 2.36 |
| **Noninterest-bearing liabilities and Stockholders' equity:** |  |  |  |  |  |  |
| Noninterest-bearing deposits | 1257977 |  |  | 1491084 |  |  |
| Other liabilities | 133479 |  |  | 150299 |  |  |
| Stockholders' equity | 1129833 |  |  | 1022844 |  |  |
| Total liabilities and stockholders' equity | $7195012 |  |  | $7335756 |  |  |
| Net interest income |  | $90452 |  |  | $102688 |  |
| Net interest spread |  |  | 4.85% |  |  | 5.58% |
| Net interest margin |  |  | 5.46% |  |  | 6.28% |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *For the purpose of this calculation, the fair market value adjustment on debt securities is included as a component of other assets.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* *Interest income is composed either entirely or predominantly of loan fees.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* *The average balance includes the principal balance of nonaccrual loans and loans HFS (not carried at fair value), and are inclusive of all loan premiums, discounts, fees and costs.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* *See Footnote 2 titled "Loan Fee Income."* 

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Income Statement Data** |  |  |  |  |  |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| Total interest income (2) | $113787 | $103233 | $103239 | $102203 | $129838 |
| Total interest expense | 23335 | 24423 | 26269 | 26001 | 27150 |
| **Net interest income** | 90452 | 78810 | 76970 | 76202 | 102688 |
| **Provision** | 9780 | 10079 | 2023 | 1823 | 17672 |
| **Noninterest income:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposit accounts | 3883 | 3825 | 3646 | 3505 | 3460 |
| &nbsp;&nbsp;&nbsp;Net refund transfer fees | 9525 | 108 | 1117 | 2567 | 13893 |
| &nbsp;&nbsp;&nbsp;Mortgage banking income (1) | 1825 | 1620 | 2064 | 1896 | 1821 |
| &nbsp;&nbsp;&nbsp;Interchange fee income | 2873 | 2884 | 3030 | 3200 | 3077 |
| &nbsp;&nbsp;&nbsp;Program fees (1) | 4549 | 4444 | 4888 | 4451 | 3822 |
| &nbsp;&nbsp;&nbsp;Increase in cash surrender value of BOLI | 930 | 947 | 1035 | 821 | 793 |
| &nbsp;&nbsp;&nbsp;Net losses on OREO | (50) | (53) | (52) | (53) | (53) |
| &nbsp;&nbsp;&nbsp;Gain on sale of Republic Bank Finance loans/leases (1) | 5845 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Gain on sale of Visa Class B-1 shares |  |  |  |  | 4090 |
| &nbsp;&nbsp;&nbsp;Other (1) | 579 | 1684 | 840 | 1257 | 2251 |
| Total noninterest income | 29959 | 15459 | 16568 | 17644 | 33154 |
| **Noninterest expense:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 32117 | 34163 | 31027 | 30801 | 31069 |
| &nbsp;&nbsp;&nbsp;Technology, equipment, and communication | 7946 | 8581 | 8710 | 8684 | 8643 |
| &nbsp;&nbsp;&nbsp;Occupancy | 3648 | 3673 | 3547 | 3391 | 3564 |
| &nbsp;&nbsp;&nbsp;Marketing and development | 1778 | 2422 | 2668 | 1243 | 1387 |
| &nbsp;&nbsp;&nbsp;FDIC insurance expense | 832 | 751 | 763 | 731 | 819 |
| &nbsp;&nbsp;&nbsp;Interchange related expense | 1401 | 1609 | 1640 | 1488 | 1636 |
| &nbsp;&nbsp;&nbsp;Legal and professional fees | 450 | 825 | 1100 | 666 | 1118 |
| &nbsp;&nbsp;&nbsp;Core conversion and related contract consulting fees |  | 220 | 97 | 182 | 5714 |
| &nbsp;&nbsp;&nbsp;FHLB advances early termination penalties | 2316 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other  | 4758 | 4351 | 4201 | 4447 | 4258 |
| Total noninterest expense | 55246 | 56595 | 53753 | 51633 | 58208 |
| **Income before income tax expense** | 55385 | 27595 | 37762 | 40390 | 59962 |
| **Income tax expense** | 12816 | 4774 | 8018 | 8906 | 12694 |
| **Net income**  | $42569 | $22821 | $29744 | $31484 | $47268 |

---

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

*&nbsp;&nbsp;&nbsp;&nbsp;* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Selected Data and Ratios** |  |  |  |  |  |
|  | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
|  | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| **Per Share Data:** |  |  |  |  |  |
| Basic weighted average shares outstanding | 19795 | 19744 | 19733 | 19721 | 19711 |
| Diluted weighted average shares outstanding | 19830 | 19799 | 19791 | 19784 | 19797 |
| Period-end shares outstanding: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | 17467 | 17393 | 17387 | 17378 | 17368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | 2148 | 2148 | 2149 | 2149 | 2150 |
| Book value per share (3) | $57.78 | $56.41 | $55.51 | $54.29 | $52.98 |
| Tangible book value per share (3) | 55.30 | 53.91 | 53.01 | 51.78 | 50.46 |
| Earnings per share ("EPS"): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic EPS - Class A Common Stock | $2.18 | $1.17 | $1.53 | $1.62 | $2.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic EPS - Class B Common Stock | 1.98 | 1.07 | 1.39 | 1.47 | 2.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted EPS - Class A Common Stock | 2.18 | 1.17 | 1.52 | 1.61 | 2.42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted EPS - Class B Common Stock | 1.98 | 1.06 | 1.39 | 1.47 | 2.20 |
| Cash dividends declared per Common share: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $0.495 | $0.451 | $0.451 | $0.451 | $0.451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | 0.450 | 0.410 | 0.410 | 0.410 | 0.410 |
| **Performance Ratios:** |  |  |  |  |  |
| Return on average assets | 2.40% | 1.28% | 1.69% | 1.79% | 2.61% |
| Return on average equity  | 15.28 | 8.20 | 10.91 | 11.96 | 18.74 |
| Efficiency ratio (4)  | 46.2 | 59.8 | 57.4 | 55.0 | 44.0 |
| Yield on average interest-earning assets (2) | 6.87 | 6.14 | 6.24 | 6.19 | 7.94 |
| Cost of average interest-bearing liabilities | 2.02 | 2.11 | 2.30 | 2.30 | 2.36 |
| Cost of average deposits (5) | 1.41 | 1.50 | 1.64 | 1.62 | 1.57 |
| Net interest spread (2) | 4.85 | 4.03 | 3.94 | 3.89 | 5.58 |
| Net interest margin - Total Company (2) | 5.46 | 4.69 | 4.65 | 4.61 | 6.28 |
| Net interest margin - Core Bank (2) | 3.96 | 3.87 | 3.78 | 3.72 | 3.70 |
| **Other Information:** |  |  |  |  |  |
| End of period FTEs (6) - Total Company | 966 | 973 | 978 | 974 | 981 |
| End of period FTEs (6) - Core Bank | 907 | 911 | 918 | 917 | 923 |
| Number of full-service banking centers  | 47 | 47 | 47 | 47 | 47 |

---

------

**Republic Bancorp, Inc.** 

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

*&nbsp;&nbsp;&nbsp;&nbsp;*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Loan Composition and Allowance for Credit Losses on Loans** | **Loan Composition and Allowance for Credit Losses on Loans** | **Loan Composition and Allowance for Credit Losses on Loans** |  |  |  |
|  | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| **Loan Composition:** |  |  |  |  |  |
| **Traditional Banking:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Residential real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owner-occupied | $1028473 | $1040080 | $1044737 | $1031898 | $1025461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonowner-occupied | 280777 | 283246 | 291373 | 303357 | 311955 |
| &nbsp;&nbsp;&nbsp;Commercial real estate |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owner-occupied | 684405 | 666948 | 643519 | 650771 | 651531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonowner-occupied | 819363 | 799420 | 801644 | 818367 | 832504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Multi-Family | 328154 | 331370 | 321453 | 319905 | 322725 |
| &nbsp;&nbsp;&nbsp;Construction & land development | 245423 | 238455 | 246065 | 258817 | 238562 |
| &nbsp;&nbsp;&nbsp;Commercial & industrial | 541646 | 528873 | 488786 | 481219 | 482955 |
| &nbsp;&nbsp;&nbsp;Lease financing receivables | 20710 | 20523 | 96605 | 96547 | 93159 |
| &nbsp;&nbsp;&nbsp;Aircraft | 202388 | 203120 | 202742 | 211910 | 219292 |
| &nbsp;&nbsp;&nbsp;Home equity | 425662 | 413638 | 399691 | 387599 | 365631 |
| &nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 11659 | 10711 | 10787 | 10315 | 11136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overdrafts | 802 | 971 | 881 | 826 | 779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobile loans | 678 | 738 | 813 | 916 | 1031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 6151 | 8204 | 9210 | 9705 | 9638 |
| **Total Traditional Banking** | 4596291 | 4546297 | 4558306 | 4582152 | 4566359 |
| &nbsp;&nbsp;&nbsp;Warehouse lines of credit | 629848 | 754090 | 609826 | 671773 | 569502 |
| **Total Core Banking** | 5226139 | 5300387 | 5168132 | 5253925 | 5135861 |
| **Republic Processing Group:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax Refund Solutions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Refund Advances | 8458 | 12924 |  |  | 30344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other TRS commercial & industrial loans | 701 | 19473 | 292 | 95 | 5841 |
| &nbsp;&nbsp;&nbsp;Republic Credit Solutions | 131675 | 113545 | 112950 | 119000 | 117747 |
| **Total Republic Processing Group** | 140834 | 145942 | 113242 | 119095 | 153932 |
| **Total Loans - Total Company** | $5366973 | $5446329 | $5281374 | $5373020 | $5289793 |
| **Allowance for Credit Losses on Loans:** | **Allowance for Credit Losses on Loans:** | **Allowance for Credit Losses on Loans:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Traditional Banking | $64041 | $63662 | $58479 | $59055 | $58851 |
| &nbsp;&nbsp;&nbsp;Warehouse Lending | 1571 | 1882 | 1522 | 1676 | 1421 |
| **Total Core Banking** | 65612 | 65544 | 60001 | 60731 | 60272 |
| &nbsp;&nbsp;&nbsp;Tax Refund Solutions | 6344 | 333 | 1 |  | 25981 |
| &nbsp;&nbsp;&nbsp;Republic Credit Solutions | 19884 | 19475 | 19863 | 21029 | 20050 |
| **Total Republic Processing Group** | 26228 | 19808 | 19864 | 21029 | 46031 |
| **Total Allowance - Total Company** | $91840 | $85352 | $79865 | $81760 | $106303 |
| **Allowance to Total Loans:** | **Allowance to Total Loans:** | **Allowance to Total Loans:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Traditional Banking | 1.39% | 1.40% | 1.28% | 1.29% | 1.29 |
| &nbsp;&nbsp;&nbsp;Warehouse Lending | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| **Total Core Banking** | 1.26 | 1.24 | 1.16 | 1.16 | 1.17 |
| &nbsp;&nbsp;&nbsp;Tax Refund Solutions | 69.27 | 1.03 | 0.34 |  | 71.80 |
| &nbsp;&nbsp;&nbsp;Republic Credit Solutions | 15.10 | 17.15 | 17.59 | 17.67 | 17.03 |
| **Total Republic Processing Group** | 18.62 | 13.57 | 17.54 | 17.66 | 29.90 |
| **Total Company** | 1.71 | 1.57 | 1.51 | 1.52 | 2.01 |

---

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

*(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)*

**&nbsp;&nbsp;&nbsp;&nbsp;** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Credit Quality Data and Ratios** |  |  |  |  |  |
|  | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
|  | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| **Nonperforming Assets - Total Company:** |  |  |  |  |  |
| Loans on nonaccrual status | $31784 | $23806 | $21572 | $21537 | $22730 |
| Loans past due 90-days-or-more and still on accrual | 68 | 161 | 137 | 105 | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans | 31852 | 23967 | 21709 | 21642 | 22850 |
| OREO | 896 | 1277 | 1246 | 1054 | 1107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets | $32748 | $25244 | $22955 | $22696 | $23957 |
| **Nonperforming Assets - Core Bank:** |  |  |  |  |  |
| Loans on nonaccrual status | $31784 | $23806 | $21572 | $21537 | $22730 |
| Loans past due 90-days-or-more and still on accrual |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans | 31784 | 23806 | 21572 | 21537 | 22730 |
| OREO | 896 | 1277 | 1246 | 1054 | 1107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets | $32680 | $25083 | $22818 | $22591 | $23837 |
| **Delinquent Loans:** |  |  |  |  |  |
| Core Bank | $33052 | $13925 | $10691 | $9953 | $9031 |
| RPG | 9690 | 8938 | 8691 | 9133 | 8282 |
| &nbsp;&nbsp;&nbsp;Total delinquent loans - Total Company | $42742 | $22863 | $19382 | $19086 | $17313 |
| **NCOs (Recoveries) by Segment:** |  |  |  |  |  |
| Traditional Bank | $326 | $879 | $251 | $313 | $136 |
| Warehouse Lending |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Core Bank | 326 | 879 | 251 | 313 | 136 |
| Tax Refund Solutions | (669) | (894) | (1468) | 22049 | (693) |
| Republic Credit Solutions | 3635 | 4607 | 5135 | 4004 | 3904 |
| &nbsp;&nbsp;&nbsp;RPG | 2966 | 3713 | 3667 | 26053 | 3211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total NCOs (recoveries) - Total Company | $3292 | $4592 | $3918 | $26366 | $3347 |
| **Credit Quality Ratios - Total Company:** |  |  |  |  |  |
| Nonperforming loans to total loans  | 0.59% | 0.44% | 0.41% | 0.40% | 0.43% |
| Nonperforming assets to total loans (including OREO) | 0.61 | 0.46 | 0.43 | 0.42 | 0.45 |
| Nonperforming assets to total assets | 0.45 | 0.36 | 0.33 | 0.33 | 0.34 |
| Allowance for credit losses to total loans  | 1.71 | 1.57 | 1.51 | 1.52 | 2.01 |
| Allowance for credit losses to nonperforming loans | 288 | 356 | 368 | 378 | 465 |
| Delinquent loans to total loans (7) | 0.80 | 0.42 | 0.37 | 0.36 | 0.33 |
| Annualized NCOs (recoveries) to average loans | 0.24 | 0.34 | 0.29 | 1.99 | 0.25 |
| **Credit Quality Ratios - Core Bank:** |  |  |  |  |  |
| Nonperforming loans to total loans  | 0.61% | 0.45% | 0.42% | 0.41% | 0.44% |
| Nonperforming assets to total loans (including OREO) | 0.63 | 0.47 | 0.44 | 0.43 | 0.46 |
| Nonperforming assets to total assets | 0.49 | 0.38 | 0.35 | 0.35 | 0.37 |
| Allowance for credit losses to total loans  | 1.26 | 1.24 | 1.16 | 1.16 | 1.17 |
| Allowance for credit losses to nonperforming loans | 206 | 275 | 278 | 282 | 265 |
| Delinquent loans to total loans (7) | 0.63 | 0.26 | 0.21 | 0.19 | 0.18 |
| Annualized NCOs (recoveries) to average loans | 0.03 | 0.07 | 0.02 | 0.02 | 0.01 |
| **TRS Refund Advances ("RAs and ERAs")** |  |  |  |  |  |
| RAs and ERAs originated | $246396 | $12924 | $— | $— | $662556 |
| Net (credit) charge to the Provision for RAs and ERAs | 5318 | (598) | (1454) | (3934) | 15335 |
| RAs and ERAs NCOs (recoveries) | (669) | (894) | (1454) | 21885 | (691) |

---

------

**Republic Bancorp, Inc.**

**Earnings Release**

**Financial Supplement**

**First Quarter 2026 *(continued)***

**Segment Data:**

Reportable segments are determined by the type of products and services offered and the level of information provided to the chief operating decision maker ("CODM"), who uses such information to review performance of various components of the business (such as banking centers and business units), which are then aggregated if operating performance, products/services, and clients are similar. The Company's Executive Chair/Chief Executive Officer serves as the Company's CODM. Income before income tax expense is the reportable measure of segment profit or loss that the CODM regularly reviews and utilizes to allocate resources and evaluate performance.

As of March 31, 2026, the Company was divided into five reportable segments: Traditional Banking, Warehouse Lending, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions. Management considers the first two segments to collectively constitute "Core Bank" or "Core Banking" operations, while the last three segments collectively constitute Republic Processing Group operations.

The nature of segment operations and the primary drivers of net revenues by reportable segment are provided below:

---

| | | |
|:---|:---|:---|
| **Reportable Segment:** | **Nature of Operations:** | **Primary Drivers of Net Revenue:** |
| **Core Banking:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Traditional Banking | Provides traditional banking products to clients in its market footprint via its banking center network and to clients outside of its market footprint primarily via its digital delivery channels. | Net interest income |
| &nbsp;&nbsp;&nbsp;&nbsp;Warehouse Lending | Provides short-term, revolving credit facilities to mortgage bankers across the U.S. | Net interest income |
| **Republic Processing Group:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax Refund Solutions | Offers tax-related credit products and facilitates the receipt and payment of federal and state tax refunds through Refund Transfer products. TRS products are primarily provided to clients outside of the Bank's market footprint. | Net interest income and Net refund transfer fees |
| &nbsp;&nbsp;&nbsp;&nbsp;Republic Payment Solutions | Offers general-purpose reloadable cards. RPS products are primarily provided to clients outside of the Bank's market footprint. | Net interest income and Program fees |
| &nbsp;&nbsp;&nbsp;&nbsp;Republic Credit Solutions | Offers consumer credit products. RCS products are primarily provided to clients outside of the Bank's market footprint, with a substantial portion of RCS clients considered subprime or near-prime borrowers. | Net interest income and Program fees |

---

The accounting policies used for Republic's reportable segments are the same as those described in the summary of significant accounting policies. Segment performance is evaluated using operating income before income taxes. Goodwill is allocated to the Traditional Banking segment. Income taxes are generally allocated based on income before income tax expense unless specific segment allocations can be reasonably made.

Transactions among reportable segments are made at carrying value. Net Interest income is reflected within each applicable business segment based on the underlying financial instruments assigned to each segment as well as the impact of the Company's internal Funds Transfer Processing ("FTP") applied to each instrument. FTP is allocated from the Traditional Bank to each segment based on the assumed terms of the underlying financial instruments within that segment in combination with applicable market interest rates matching the assumed terms of each instrument.

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

Segment information for the quarters ended March 31, 2026, and 2025 follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **Core Banking** | **Core Banking** | **Core Banking** | **Republic Processing Group** | **Republic Processing Group** | **Republic Processing Group** | **Republic Processing Group** | |
| <br>***(dollars in thousands)*** | <br>**Traditional**<br>**Banking** | <br>**Warehouse**<br>**Lending** | **Total**<br>**Core**<br>**Banking** | **Tax**<br>**Refund**<br>**Solutions** | **Republic**<br>**Payment**<br>**Solutions** | **Republic**<br>**Credit** <br>**Solutions** | <br>**Total**<br>**RPG** | <br>**Total**<br>**Company** |
| **Net interest income** | $59327 | $3900 | $**63227** | $11430 | $3037 | $12758 | $**27225** | $**90452** |
| **Provision for expected credit loss expense** | 705 | (311) | **394** | 5342 |  | 4044 | **9386** | **9780** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net refund transfer fees |  |  | **—** | 9525 |  |  | **9525** | **9525** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking income | 1825 |  | **1825** |  |  |  | **—** | **1825** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Program fees |  |  | **—** |  | 776 | 3773 | **4549** | **4549** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Republic Bank Finance loans/leases | 5845 |  | **5845** |  |  |  | **—** | **5845** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other noninterest income | 8105 | 24 | **8129** | 83 | 2 | 1 | **86** | **8215** |
| **Total noninterest income** | 15775 | 24 | **15799** | 9608 | 778 | 3774 | **14160** | **29959** |
| **Total noninterest expense** | 46388 | 936 | **47324** | 3265 | 1179 | 3478 | **7922** | **55246** |
| **Income before income tax expense** | 28009 | 3299 | **31308** | 12431 | 2636 | 9010 | **24077** | **55385** |
| **Income tax expense** | 6757 | 792 | **7549** | 2720 | 576 | 1971 | **5267** | **12816** |
| **Net income** | $21252 | $2507 | $**23759** | $9711 | $2060 | $7039 | $**18810** | $**42569** |
| **Period-end assets** | $6060972 | $629878 | $**6690850** | $69707 | $349831 | $142891 | $**562429** | $**7253279** |
| **Net interest margin** | 4.10% | 2.59% | **3.96%** | NM | NM | NM | **NM** | **5.46%** |
| **Net-revenue concentration\*** | 63% | 3% | **66%** | 17% | 3% | 14% | **34%** | **100%** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **Core Banking** | **Core Banking** | **Core Banking** | **Republic Processing Group** | **Republic Processing Group** | **Republic Processing Group** | **Republic Processing Group** | |
| <br>***(dollars in thousands)*** | <br>**Traditional**<br>**Banking** | <br>**Warehouse**<br>**Lending** | **Total**<br>**Core**<br>**Banking** | **Tax**<br>**Refund**<br>**Solutions** | **Republic**<br>**Payment**<br>**Solutions** | **Republic**<br>**Credit** <br>**Solutions** | <br>**Total**<br>**RPG** | <br>**Total**<br>**Company** |
| **Net interest income** | $53321 | $3028 | $**56349** | $29812 | $3994 | $12533 | $**46339** | $**102688** |
| **Provision for expected credit loss expense** | (769) | 47 | **(722)** | 15427 |  | 2967 | **18394** | **17672** |
| &nbsp;&nbsp;&nbsp;Net refund transfer fees |  |  | **—** | 13893 |  |  | **13893** | **13893** |
| &nbsp;&nbsp;&nbsp;Mortgage banking income | 1821 |  | **1821** |  |  |  | **—** | **1821** |
| &nbsp;&nbsp;&nbsp;Program fees |  |  | **—** |  | 767 | 3055 | **3822** | **3822** |
| &nbsp;&nbsp;&nbsp;Gain on sale of Visa Class B-1 shares | 4090 |  | **4090** |  |  |  | **—** | **4090** |
| &nbsp;&nbsp;&nbsp;Other noninterest income | 9453 | 20 | **9473** | 54 |  | 1 | **55** | **9528** |
| **Total noninterest income** | 15364 | 20 | **15384** | 13947 | 767 | 3056 | **17770** | **33154** |
| **Total noninterest expense** | 49906 | 872 | **50778** | 3223 | 1060 | 3147 | **7430** | **58208** |
| **Income before income tax expense** | 19548 | 2129 | **21677** | 25109 | 3701 | 9475 | **38285** | **59962** |
| **Income tax expense** | 3836 | 480 | **4316** | 5498 | 806 | 2074 | **8378** | **12694** |
| **Net income** | $15712 | $1649 | $**17361** | $19611 | $2895 | $7401 | $**29907** | $**47268** |
| **Period-end assets** | $5797416 | $569862 | $**6367278** | $192037 | $386362 | $129878 | $**708277** | $**7075555** |
| **Net interest margin** | 3.79% | 2.68% | **3.70%** | NM | NM | NM | **NM** | **6.28%** |
| **Net-revenue concentration\*** | 51% | 2% | **53%** | 32% | 4% | 11% | **47%** | **100%** |

---

------

*\* Net revenue represents net interest income plus total noninterest income. Net-revenue concentration equals segment-level net revenue divided by total Company net revenue.*

------

**Republic Bancorp, Inc.**

**Earnings Release Financial Supplement**

**First Quarter 2026 *(continued)***

**Footnotes:**

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *In the ordinary course of business, the Bank originates both mortgage and consumer loans with the intent to sell. Mortgage loans originated with the intent to sell are primarily originated and sold into the secondary market through the Traditional Banking segment, while consumer loans originated with the intent to sell are originated and sold through the RCS segment. Gains on sale of mortgage loans are recorded as a* *component of "Mortgage Banking" income. Gains on sale of RCS consumer loans are recorded as a* *component of "Program Fees." During the first quarter of 2025, the Traditional Banking segment entered into an agreement to sell approximately $5 million of consumer credit cards. As a result, these loans were transferred from held for investment to consumer loans HFS. The gain on the sale of the consumer credit cards was recorded as a component of other noninterest income during the second quarter of 2025. During the fourth quarter of 2025, the Traditional Banking segment entered into an agreement to sell approximately $82 million of RBF loans and lease financing receivables. As a result, these loans and lease financing receivables were transferred from held for investment to other loans HFS. The gain on the sale of the RBF loans and leases was recorded as a component of noninterest income during the first quarter of 2026.* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
| <br>***(dollars in thousands)*** | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| **Mortgage Loans Held for Sale** | **Mortgage Loans Held for Sale** |  |  |  |  |
| Balance, beginning of period | $7516 | $15338 | $8850 | $9140 | $8312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Originations | 47990 | 58417 | 59494 | 51788 | 41233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transferred from held for investment to held for sale |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales | (44042) | (67560) | (54716) | (53561) | (41816) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sale | 1489 | 1321 | 1710 | 1483 | 1411 |
| Balance, end of period | $12953 | $7516 | $15338 | $8850 | $9140 |
| **Consumer Loans Held for Sale** | **Consumer Loans Held for Sale** | **Consumer Loans Held for Sale** |  |  |  |
| Balance, beginning of period | $27995 | $24868 | $27952 | $32125 | $24075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Originations | 291165 | 277273 | 271718 | 321127 | 266651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transferred from held for investment to held for sale |  |  |  |  | 4977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales | (294104) | (277926) | (278908) | (329345) | (266633) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sale | 3773 | 3780 | 4106 | 4045 | 3055 |
| Balance, end of period | $28829 | $27995 | $24868 | $27952 | $32125 |
| **Other Loans Held for Sale** | **Other Loans Held for Sale** | **Other Loans Held for Sale** |  |  |  |
| Balance, beginning of period | $81839 | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transferred from held for investment to held for sale |  | 81839 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales | (87684) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sale | 5845 |  |  |  |  |
| Balance, end of period | $— | $81839 | $— | $— | $— |

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&nbsp;&nbsp;&nbsp;&nbsp;*(2)* *The amount of loan fee income can meaningfully* *impact total interest income, loan yields, net interest income, net interest margin, and net interest spread. The following table presents total loan fees by reportable segment:* 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>***(in thousands)*** | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| Traditional Banking | $1304 | $2003 | $1393 | $1367 | $1291 |
| Warehouse Lending | 396 | 362 | 364 | 369 | 310 |
| **Total Core Bank** | 1700 | 2365 | 1757 | 1736 | 1601 |
| Tax Refund Solutions | 13528 | 288 | 17 | 25 | 33675 |
| Republic Credit Solutions | 12441 | 11411 | 12123 | 12434 | 12237 |
| **Total Republic Processing Group** | 25969 | 11699 | 12140 | 12459 | 45912 |
| **Total Loan Fees** | $27669 | $14064 | $13897 | $14195 | $47513 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;*(3)* *The following table provides a reconciliation of total stockholders' equity* *in accordance with GAAP to tangible stockholders' equity, a non-GAAP disclosure.* *The Company provides the tangible book value per share, a non-GAAP measure, in addition to those defined by banking regulators, because of its widespread use by investors to evaluate capital adequacy.* 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of** | **As of** | **As of** | **As of** | **As of** |
| <br>***(dollars in thousands, except per share data)*** | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| Total stockholders' equity - GAAP (a) | $1133387 | $1102293 | $1084520 | $1060106 | $1034089 |
| &nbsp;&nbsp;&nbsp;Less: Goodwill | 40516 | 40516 | 40516 | 40516 | 40516 |
| &nbsp;&nbsp;&nbsp;Less: Mortgage servicing rights | 6693 | 6811 | 6798 | 6840 | 6875 |
| &nbsp;&nbsp;&nbsp;Less: Core deposit intangible | 1432 | 1535 | 1637 | 1739 | 1841 |
| Tangible stockholders' equity - Non-GAAP (c) | $1084746 | $1053431 | $1035569 | $1011011 | $984857 |
| Total assets - GAAP (b) | $7253279 | $7042061 | $7014919 | $6970917 | $7075555 |
| &nbsp;&nbsp;&nbsp;Less: Goodwill | 40516 | 40516 | 40516 | 40516 | 40516 |
| &nbsp;&nbsp;&nbsp;Less: Mortgage servicing rights | 6693 | 6811 | 6798 | 6840 | 6875 |
| &nbsp;&nbsp;&nbsp;Less: Core deposit intangible | 1432 | 1535 | 1637 | 1739 | 1841 |
| Tangible assets - Non-GAAP (d) | $7204638 | $6993199 | $6965968 | $6921822 | $7026323 |
| Total stockholders' equity to total assets - GAAP (a/b) | 15.63% | 15.65% | 15.46% | 15.21% | 14.61% |
| Tangible stockholders' equity to tangible assets - Non-GAAP (c/d) | 15.06% | 15.06% | 14.87% | 14.61% | 14.02% |
| Number of shares outstanding (e) | 19615 | 19541 | 19536 | 19527 | 19518 |
| Book value per share - GAAP (a/e) | $57.78 | $56.41 | $55.51 | $54.29 | $52.98 |
| Tangible book value per share - Non-GAAP (c/e) | 55.30 | 53.91 | 53.01 | 51.78 | 50.46 |

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&nbsp;&nbsp;&nbsp;&nbsp;*(4)* *The efficiency ratio, a non-GAAP measure, equals total noninterest expense divided by the sum of net interest income and noninterest income (total revenue). The adjusted efficiency ratio, a non-GAAP measure with no GAAP comparable, excludes notable infrequent or nonrecurring revenues and expenses related to the following: the gain on sale of Republic Bank Finance, the nonrenewal of a large tax provider contract, the gain on the sale of Visa Class B-1 shares, the gain on sale of consumer credit cards, insurance proceeds received, early termination penalties on FHLB advances and core system deconversion and related consulting fees.* 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| <br>***(dollars in thousands)*** | **Mar. 31, 2026** | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** |
| Net interest income - GAAP (a) | $90452 | $78810 | $76970 | $76202 | $102688 |
| Noninterest income - GAAP (b) | 29959 | 15459 | 16568 | 17644 | 33154 |
| Total net revenue - GAAP (c) | $120411 | $94269 | $93538 | $93846 | $135842 |
| &nbsp;&nbsp;&nbsp;Less: Gain on sale of Republic Bank Finance | $5845 | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Less: Nonrenewal of a large tax provider contract |  |  |  |  | 10803 |
| &nbsp;&nbsp;&nbsp;Less: Gain on sale of Visa Class B-1 shares |  |  |  |  | 4090 |
| &nbsp;&nbsp;&nbsp;Less: Gain on sale of consumer credit card portfolio |  |  |  | 328 |  |
| &nbsp;&nbsp;&nbsp;Less: Insurance recovery |  |  |  |  | 1571 |
| Total adjusted revenue - Non-GAAP (e) | $114566 | $94269 | $93538 | $93518 | $119378 |
| Noninterest expense - GAAP (d) | $55246 | $56595 | $53753 | $51633 | $58208 |
| &nbsp;&nbsp;&nbsp;Less: Early termination penalty - FHLB advances | 2316 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Less: Core system deconversion and consulting fees |  | 220 | 97 | 182 | 5714 |
| Total adjusted noninterest expense - Non-GAAP (f) | $52930 | $56375 | $53656 | $51451 | $52494 |
| Efficiency Ratio - GAAP (d/c) | 45.9% | 60.0% | 57.5% | 55.0% | 42.8% |
| Adjusted Efficiency Ratio - Non-GAAP (f/e) | 46.2% | 59.8% | 57.4% | 55.0% | 44.0% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;*(5)* *The cost of average deposits ratio equals annualized total interest expense on deposits divided by total average interest-bearing deposits plus total average noninterest-bearing deposits.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(6)* *FTEs – Full-time-equivalent employees.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(7)* *The delinquent loans to total loans ratio* *equals loans 30-days-or-more past due divided by total loans. Depending on loan class, loan delinquency is* *determined by either the number of days or the number of payments past due. As of March 31, 2026, delinquent loans for the Republic Processing Group segment included $0 of Early Season Refund Advances and Refund Advances, which do not have a contractual due date, but the Company considered delinquent in 2026 if it remained unpaid* *35 days after the taxpayer's tax return was* *submitted to the applicable taxing authority. All unpaid Early Season Refund Advances and Refund Advances are charged-off by the end of the second quarter of each year.* 

*NM – Not meaningful*

*NA – Not applicable*

*QTD – Quarter-to-date*

*YTD – Year-to-date*

CONTACT:

Republic Bancorp, Inc.

Kevin Sipes

Executive Vice President & Chief Financial Officer

(502) 560-8628

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