リパブリックバンコープの適時開示・決算・その他

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): July 24, 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
(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 July 24, 2026, Republic Bancorp, Inc. announced its results of operations for the quarter and six months ended June 30, 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	Republic Bancorp, Inc. Earnings Release dated July 24, 2026.
	99.2	Earnings Release Financial Supplement – Second Quarter 2026.
	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: July 24, 2026	By:	/s/ Kevin Sipes
		Executive Vice President, Chief Financial Officer & Chief Accounting Officer

EX-99.1 2 rbcaa-20260724xex99d1.htm EX-99.1 3Q

Exhibit 99.1

Republic Bancorp Reports Solid Second Quarter Results

Highlighted by Continued Strong Core Bank Net Interest Income Expansion

LOUISVILLE, Ky.--(BUSINESS WIRE)—July 24, 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 second quarter 2026 net income and Diluted Earnings per Class A Common Share (“Diluted EPS”) of $32.9 million and $1.68 per share, representing increases of 4% over the $31.5 million and $1.61 per share reported for the second quarter of 2025. As a result, the Company achieved a return on average assets (“ROA”) and a return on average equity (“ROE”) of 1.88% and 11.42% for the second quarter of 2026.

Logan Pichel, President and Chief Executive Officer of the Bank, commented, “We delivered the strongest second-quarter results in Company history, substantially driven by the continued strength of our Core Bank⁽¹⁾ franchise. Traditional Banking⁽¹⁾ loans grew $59 million during the quarter, marking our strongest quarterly loan growth in nearly three years and reflecting the success of our relationship-based lending strategy, disciplined execution across our markets, and healthy demand across key lending categories.

Despite the headwinds of a 75 basis point decline in the Federal Funds Target Rate (“FFTR”) over the past 12 months, our Core Bank’s net interest income increased $4.2 million, or 7%, compared to the second quarter of 2025. Over this same time frame, our Core Bank’s net interest margin expanded 30 basis points to a near-record 4.02%, driven by notably lower funding costs, a favorable shift in average interest-earning assets, disciplined loan and deposit pricing, and proactive balance sheet management. Meanwhile, Core Bank credit quality remained strong, and disciplined expense management continued to support our performance.

During June, we successfully launched a new Republic Payment Solutions (“RPS”)⁽¹⁾ program after several years of cross-functional planning and execution. This program is expected to contribute over $150 million of lower-cost, average deposits during the remainder of 2026, strengthening liquidity, enhancing funding diversification, improving our loan-to-deposit ratio, and generating additional fee income. This launch represents a meaningful strategic achievement and demonstrates our ability to leverage our payment platforms to support long-term balance sheet growth.

Beyond our strong financial performance, we were honored to receive the Raymond James Community Bankers Cup for the second consecutive year. This prestigious recognition highlights the nation’s top-performing community banks based on profitability, operational efficiency, and balance sheet strength. We were also named to Forbes’ World’s Best Banks list during the second quarter, an honor based on an independent survey of more than 54,000 consumers across 34 countries that measures trust, customer service, digital capabilities, and financial advice. Among thousands of financial institutions evaluated worldwide, Republic was one of only 72 U.S. banks included on the list.

These recognitions reflect the dedication of our associates, the loyalty of our clients, and our commitment to disciplined execution. Since our founding, we have remained focused on delivering sophisticated financial solutions while preserving the relationship-driven, community-focused approach that defines Republic. We believe these honors validate our strategy and underscore the strength of our franchise. As we move through the remainder of 2026, we remain focused on disciplined growth, operational excellence, and creating long-term value for our shareholders,” concluded Pichel.

The following table highlights key metrics for the three and six months ended June 30, 2026 and 2025. Additional financial information, including segment-level results, is provided in the financial supplement accompanying this release. The digital version of this release includes the supplement as an appendix, and it is also available as Exhibit 99.2 to the Company’s Form 8-K filed with the SEC on July 24, 2026.



	Total Company Financial Performance Highlights											Total Company Financial Performance Highlights
		Three Months Ended Jun. 30,						$		%			Six Months Ended Jun. 30,						$		%
(dollars in thousands, except per share data)		2026			2025			Change		Change			2026			2025			Change		Change

Income Before Income Tax Expense		$	42,550		$	40,390		$	2,160	5	%		$	97,935		$	100,352		$	(2,417)	(2)	%
Net Income			32,866			31,484			1,382	4				75,435			78,752			(3,317)	(4)
Diluted EPS			1.68			1.61			0.07	4				3.85			4.03			(0.18)	(4)
Return on Average Assets ("ROA")			1.88	%		1.79	%		NA	5				2.14	%		2.21	%		NA	(3)
Return on Average Equity ("ROE")			11.42			11.96			NA	(5)				13.32			15.28			NA	(13)

Results of Operations for the Second quarter of 2026 Compared to the Second quarter of 2025

Core Bank⁽¹⁾

Net income for the Core Bank totaled $22.8 million for the second quarter of 2026, an increase of $4.1 million, or 22%, from $18.7 million in the second quarter of 2025. Results were driven by strong net interest income growth, a lower provision for credit losses, fee-based revenue growth and continued disciplined expense management.

Net Interest Income – Core Bank net interest income increased $4.2 million, or 7%, to $64.1 million for the second quarter of 2026 from $59.9 million for the second quarter of 2025. The primary driver for the 30 basis point increase in the Core Bank’s net interest margin from the second quarter of 2025 to the second quarter of 2026 was a favorable 49 basis point decline in the Core Bank’s cost of interest bearing liabilities.

Significant factors impacting Core Bank net interest income and net interest margin between the second quarter of 2026 and the second quarter of 2025 were as follows:

Interest-Earning Assets

●

Core Bank average interest-earning cash declined to $257 million with a weighted-average yield of 3.74% during the second quarter of 2026, compared to $623 million with a yield of 4.45% during the second quarter of 2025. The decline in average interest-earning cash balances reflected the strategic deployment of excess liquidity into loan growth and longer-duration investment securities, which provided more attractive yields than overnight liquidity alternatives tied to the FFTR.

●

Core Bank average investments increased to $912 million with a weighted-average yield of 4.15% during the second quarter of 2026, compared to $686 million with a yield of 3.71% during the second quarter of 2025 due to the previously referenced redeployment of interest-earning cash.

●

Traditional Banking average loans increased $59 million to $4.65 billion with a weighted-average yield of 5.66% during the second quarter of 2026, compared to $4.59 billion with a yield of 5.69% during the second quarter of 2025.

Period-over-period comparisons of average loan balances and yields were negatively impacted by the sale of approximately $82 million of loans and lease financing receivables during the first quarter of 2026. These loans were transferred from held for investment to held for sale in December 2025 and contributed an estimated 5 basis points to the Traditional Banking loan portfolio yield during the second quarter of 2025.

Despite a 75 basis point decline in the FFTR over the past 12 months, strong new loan production, continued redeployment of cash flows from lower-yielding loan runoff into higher-yielding originations, and a favorable shift toward higher-spread lending categories largely offset the impact of lower market interest rates on loan portfolio yields.

●

Average outstanding Warehouse⁽¹⁾ lines of credit increased $13 million, or 2%, to $580 million during the second quarter of 2026 from $567 million during the second quarter of 2025, while the weighted-average yield declined 61 basis points to 6.33%. Average committed Warehouse lines increased from $995 million to $1.17 billion over the same period, reflecting continued growth in customer relationships. Average utilization moderated from 57% to 50%, as growth in commitments outpaced growth in outstanding balances.

Funding Liabilities (Deposits and Borrowings)

As it relates to the Core Bank’s decline in interest expense and reduction in the cost of interest-bearing liabilities:

●

The weighted-average cost of Core Bank total interest-bearing deposits decreased 36 basis points to 1.98% during the second quarter of 2026 from 2.34% during the second quarter of 2025, while total average interest-bearing deposit balances increased $96 million, or 3%. Average balances benefited from a $235 million combined increase in money market and time deposit accounts, partially offset by a $139 million decline in brokered deposits, reciprocal deposits, and interest-bearing transaction accounts. Disciplined deposit pricing initiatives and a favorable shift in funding mix drove a meaningful reduction in the overall cost of interest-bearing deposits.

●

Average Federal Home Loan Bank (“FHLB”) advances declined $211 million from the second quarter of 2025 to the second quarter of 2026, while the weighted-average cost decreased 26 basis points to 4.09%. During the second quarter of 2026, the Core Bank began realizing the benefit of the March 2026 prepayment of $220 million of higher-cost FHLB advances, which carried a weighted-average rate of 4.57%. The prepayment contributed to lower net funding costs and further supported net interest margin expansion during the quarter.

The following tables present, by reportable segment, the key drivers of Core Bank performance, including net interest income, net interest margin, and average and period-end loan balances for the periods presented.



	Net Interest Income						Net Interest Margin
(dollars in thousands)	Three Months Ended Jun. 30,						Three Months Ended Jun. 30,
Reportable Segment	2026		2025		$ Change		2026		2025		% Change

Traditional Banking	$	60,375	$	56,380	$	3,995	4.16	%	3.84	%	0.32	%
Warehouse Lending		3,744		3,549		195	2.59		2.51		0.08
Total Core Bank	$	64,119	$	59,929	$	4,190	4.02		3.72		0.30



	Average Loan Balances								Period-End Loan Balances
(dollars in thousands)	Three Months Ended Jun. 30,									Jun. 30,		Jun. 30,
Reportable Segment		2026		2025	$ Change		% Change			2026		2025	$ Change		% Change

Traditional Banking	$	4,646,612	$	4,587,342	$	59,270	1	%	$	4,655,509	$	4,582,152	$	73,357	2	%
Warehouse Lending		580,065		566,707		13,358	2			614,696		671,773		(57,077)	(8)
Total Core Bank	$	5,226,677	$	5,154,049	$	72,628	1		$	5,270,205	$	5,253,925	$	16,280	-

Provision for Expected Credit Losses⁽²⁾ – The Core Bank’s Provision was a net credit of $181,000 for the second quarter of 2026 compared to a net charge of $772,000 for the second quarter of 2025.

The net credit of $181,000 for the second quarter of 2026 was driven by the following:

●

The Traditional Banking segmentrecorded a net credit to the Provision of $143,000 during the second quarter of 2026. While period-end loan balances grew $59 million during the quarter, provision expense benefited from a favorable shift in portfolio composition. Specifically, construction and land development balances, which carry higher reserve requirements than most other Core Bank lending categories, declined $30 million, as projects progressed and balances primarily migrated into the commercial real estate portfolio. This shift reduced reserve requirements and contributed meaningfully to the quarter’s provision benefit.

●

Warehouse Lending recorded a net credit to the Provision of $38,000 for the second quarter of 2026 resulting from general formula reserves applied to a $15 million, or 2%, decrease in the outstanding Warehouse period-end balances for the period.

The net charge of $772,000 for the second quarter of 2025 was driven by the following:

●

The Traditional Banking segment recorded a net charge to the Provision of $517,000 during the second quarter of 2025 related to a change in loan mix toward loans with higher formula reserve requirements in addition to $313,000 in net charge-offs. While Traditional Banking loan balances increased only $16 million during the second quarter of 2025, the growth occurred in categories with higher loan loss reserve requirements.

●

Warehouse Lending recorded a net charge to the Provision of $255,000 for the second quarter of 2025 resulting from general formula reserves applied to a $102 million increase in the outstanding Warehouse period-end balances.

As a percentage of total loans, the Core Bank’s Allowance⁽²⁾ increased 8 basis points from June 30, 2025, to June 30, 2026. The table below provides a view of the Company’s percentage of Allowance-to-total-loans by reportable segment.



	As of Jun. 30, 2026						As of Jun. 30, 2025						Year-over-Year Change
(dollars in thousands)					Allowance						Allowance		Allowance
Reportable Segment	Gross Loans		Allowance		to Loans		Gross Loans		Allowance		to Loans		to Loans		% Change

Traditional Banking	$	4,655,509	$	63,806	1.37	%	$	4,582,152	$	59,055	1.29	%	0.08	%	6	%
Warehouse Lending		614,696		1,533	0.25			671,773		1,676	0.25		—		—
Total Core Bank		5,270,205		65,339	1.24			5,253,925		60,731	1.16		0.08		7

Tax Refund Solutions		156		1	0.64			95		—	—		0.64		—
Republic Credit Solutions		140,045		22,427	16.01			119,000		21,029	17.67		(1.66)		(9)
Total Republic Processing Group		140,201		22,428	16.00			119,095		21,029	17.66		(1.66)		(9)

Total Company	$	5,410,406	$	87,767	1.62	%	$	5,373,020	$	81,760	1.52	%	0.10	%	7	%


	Allowance for Credit Losses on Loans Roll-Forward
	Three Months Ended June 30,
	2026										2025
(in thousands)	Beginning				Charge-				Ending		Beginning				Charge-				Ending
Reportable Segment	Balance		Provision		offs		Recoveries		Balance		Balance		Provision		offs		Recoveries		Balance

Traditional Banking	$	64,041	$	(143)	$	(360)	$	268	$	63,806	$	58,851	$	517	$	(470)	$	157	$	59,055
Warehouse Lending		1,571		(38)		—		—		1,533		1,421		255		—		—		1,676
Total Core Bank		65,612		(181)		(360)		268		65,339		60,272		772		(470)		157		60,731

Tax Refund Solutions		6,344		(1,046)		(6,439)		1,142		1		25,981		(3,932)		(25,059)		3,010		—
Republic Credit Solutions		19,884		6,384		(4,244)		403		22,427		20,050		4,983		(4,384)		380		21,029
Total Republic Processing Group		26,228		5,338		(10,683)		1,545		22,428		46,031		1,051		(29,443)		3,390		21,029

Total Company	$	91,840	$	5,157	$	(11,043)	$	1,813	$	87,767	$	106,303	$	1,823	$	(29,913)	$	3,547	$	81,760

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



	Quarters Ended:				Years Ended:
	Jun. 30,		Jun. 30,		Dec. 31,		Dec. 31,		Dec. 31,
Core Banking Credit Quality Ratios	2026		2025		2025		2024		2023

Nonperforming loans to total loans	0.58	%	0.41	%	0.45	%	0.44	%	0.39	%

Nonperforming assets to total loans (including OREO)	0.60		0.43		0.47		0.46		0.41

Delinquent loans* to total loans	0.35		0.19		0.26		0.20		0.16

Net charge-offs to average loans	0.01		0.02		0.03		0.05		0.01
(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 $796,000, or 8%, to $11.3 million for the second quarter of 2026 from $10.5 million for the second quarter of 2025.

●

Service charges on deposits increased $562,000, or 16%, and were the largest contributor to the increase in noninterest income, driven primarily by higher activity-based fee volumes, particularly insufficient funds fees.

●

Interchange income increased $433,000 compared to the second quarter of 2025, primarily due to a $454,000 favorable adjustment to credit and debit card rewards accruals recorded during the second quarter of 2026. The adjustment aligned the Core Bank’s estimated rewards liability with expected payouts under its new rewards programs.

●

Other income decreased $236,000, primarily due to a nonrecurring $328,000 net gain recognized from the sale of the Bank’s consumer credit card portfolio during the second quarter of 2025.

Noninterest Expense – Core Bank noninterest expenses were $45.9 million for the second quarter of 2026, an increase of $281,000, or 1%, from the second quarter of 2025. The most notable change in noninterest expense from the second quarter of 2025 to the second quarter of 2026 was a $224,000 increase in the marketing and development expense attributable to the Bank’s branding initiative launched in mid-2025. Despite this investment, overall noninterest expense growth remained modest, helping support the Core Bank's strong profitability during the quarter.

Republic Processing Group⁽¹⁾

RPG reported net income of $10.1 million for the second quarter of 2026, compared with net income of $12.8 million for the second quarter of 2025. Results by RPG operating segment were as follows:

Tax Refund Solutions⁽¹⁾

The TRS segment derives substantially all of its revenues during the first and second quarters of each year.

TRS reported net income of $1.7 million for the second quarter of 2026, compared with $3.3 million for the same period in 2025. The decline in net income was primarily attributable to a $2.9 million less favorable provision benefit compared to the second quarter of 2025.

During the second quarter of each year, the Company charges off all remaining unpaid Refund Advances (“RAs”). While charge-offs during both the second quarters of 2025 and 2026 were favorably lower than the preliminary loan loss reserves established in the preceding first quarters, the Company’s reserve estimate for the 2026 tax season proved more precise. This

improved accuracy was largely attributable to the nonrenewal of a major Tax Provider contract that drove significant RA volume during the 2025 tax season and historically contributed greater variability to credit loss estimates.

Republic Payment Solutions

RPS reported net income of $1.9 million for the second quarter of 2026, compared with $2.4 million for the same period in 2025. The decline in net income was driven primarily by lower net interest income, reflecting a lower applied yield earned on the segment’s average deposit balances. The lower yield primarily resulted from the 75 basis point decline in the FFTR between the second quarters of 2025 and 2026. As a result, RPS earned a yield of 3.67% on average deposit balances of $370 million during the second quarter of 2026, compared with a yield of 4.28% on average deposit balances of $350 million during the second quarter of 2025.

Republic Credit Solutions⁽¹⁾

RCS reported net income of $6.4 million for the second quarter of 2026, a decrease of $655,000, or 9%, from $7.0 million for the second quarter of 2025. Growth in RCS net interest income and program fees was more than offset by higher provision expense and noninterest expenses.

Net interest income and program fees benefited from strong origination growth across both RCS line of credit (“LOC”) products and the segment’s installment loan program. However, provision expense increased specifically due to growth in the segment’s LOC II product, which carries substantially higher provisioning requirements than the segment’s other lending products.

Noninterest expense also increased during the quarter, driven primarily by higher marketing costs. Comparisons to the prior-year period were further impacted by a $763,000 reimbursement recognized during the second quarter of 2025 related to the resolution of a prior-period billing dispute. As a result, the combined impact of higher provision and operating expenses more than offset the benefit of revenue growth, resulting in lower net income for the quarter.

Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently operates 47 banking centers within five metropolitan statistical areas (“MSAs”) across five states: 22 banking centers in the Louisville MSA, serving Louisville, Prospect, Shelbyville, and Shepherdsville, Kentucky, and Floyds Knobs, Jeffersonville, and New Albany, Indiana; six banking centers in the Lexington MSA, serving Georgetown and Lexington, Kentucky; eight banking centers in the Cincinnati MSA, serving Cincinnati and West Chester, Ohio, and Bellevue, Covington, Crestview Hills, and Florence, Kentucky; seven banking centers in the Tampa MSA, serving Largo, New Port Richey, St. Petersburg, Seminole, and Tampa, Florida; and four banking centers in the Nashville MSA, serving Franklin, Murfreesboro, Nashville, and Spring Hill, Tennessee. The Bank also offers online banking at www.republicbank.com. The Company is headquartered in Louisville, Kentucky and, as of June 30, 2026, had approximately $7.06 billion in total assets. The Company’s Class A Common Stock is listed on the NASDAQ Global Select Market under the symbol “RBCAA.”

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 average balances of the new RPS program launched during June 2026, the future impact to our balance sheet and income statement resulting from changes in interest rates, the yield curve, 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 future events, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual results may differ materially from those expressed or implied by these forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on such statements. Forward-looking statements are neither historical facts nor guarantees of future performance.

Factors that could cause actual results to differ materially from those described in forward-looking statements are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2025. The Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.

Footnotes:

(1)

The Company is divided into five reportable segments: Traditional Banking, Warehouse Lending, Tax Refund (“TRS”), Republic Payment Solutions (“RPS”), and Republic Credit Solutions (“RCS”). Management considers Traditional Banking and Warehouse Lending to collectively constitute “Core Bank” or “Core Banking” operations, while TRS, RPS, and RCS collectively constitute Republic Processing Group (“RPG”) operations.

(2)

Provision or Provision for expected credit loss expense includes provisions for on-balance-sheet loans, with changes reflected in the Allowance, or Allowance for credit losses. 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, which is included in other liabilities on the Company’s balance sheet.

NM – Not meaningful

NA – Not applicable

CONTACT:

Republic Bancorp, Inc.

Kevin Sipes

Executive Vice President & Chief Financial Officer

(502) 560-8628

EX-99.2 3 rbcaa-20260724xex99d2.htm EX-99.2 3Q

Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

SECOND QUARTER 2026

TABLE OF CONTENTS


		BALANCE SHEET DATA	S-2

		AVERAGE BALANCE SHEET DATA	S-3

		TOTAL COMPANY AVERAGE BALANCE SHEETS AND INTEREST RATES	S-4

		INCOME STATEMENT DATA	S-5

		SELECTED DATA AND RATIOS	S-6

		LOAN COMPOSITION	S-7

		ALLOWANCE FOR CREDIT LOSSES ON LOANS	S-7

		CREDIT QUALITY DATA AND RATIOS	S-8

		SEGMENT DATA	S-9

		FOOTNOTES	S-12

S-1

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)



Balance Sheet Data
	As of
	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025
Assets:
Cash and cash equivalents	$	354,091	$	599,105	$	219,972	$	484,238	$	484,808
Investment securities		892,116		886,641		890,582		849,226		711,906
Loans held for sale (1)		57,997		41,782		117,350		40,206		36,802
Loans		5,410,406		5,366,973		5,446,329		5,281,374		5,373,020
Allowance for credit losses		(87,767)		(91,840)		(85,352)		(79,865)		(81,760)
Loans, net		5,322,639		5,275,133		5,360,977		5,201,509		5,291,260
Federal Home Loan Bank ("FHLB") stock, at cost		18,149		27,014		32,114		25,849		24,568
Premises and equipment, net		42,253		40,843		35,986		37,884		36,651
Right-of-use assets		29,042		30,443		31,330		32,804		34,327
Goodwill		40,516		40,516		40,516		40,516		40,516
Other real estate owned ("OREO")		843		896		1,277		1,246		1,054
Bank owned life insurance ("BOLI")		112,216		111,272		110,721		109,773		108,738
Other assets and accrued interest receivable		191,967		199,634		201,236		191,668		200,287
Total assets	$	7,061,829	$	7,253,279	$	7,042,061	$	7,014,919	$	6,970,917

Liabilities and Stockholders' Equity:
Deposits:
Noninterest-bearing	$	1,248,704	$	1,275,427	$	1,173,461	$	1,239,023	$	1,223,016
Interest-bearing		4,303,038		4,233,693		4,029,686		4,099,322		4,094,223
Total deposits		5,551,742		5,509,120		5,203,147		5,338,345		5,317,239

Securities sold under agreements to
repurchase ("SSUAR") and other short-term borrowings		68,615		81,337		88,504		74,522		72,103
Operating lease liabilities		30,077		31,492		32,370		33,833		35,335
Federal Home Loan Bank advances		157,000		366,500		506,000		375,000		370,000
Other liabilities and accrued interest payable		97,598		131,443		109,747		108,699		116,134
Total liabilities		5,905,032		6,119,892		5,939,768		5,930,399		5,910,811

Stockholders' equity		1,156,797		1,133,387		1,102,293		1,084,520		1,060,106
Total liabilities and stockholders' equity	$	7,061,829	$	7,253,279	$	7,042,061	$	7,014,919	$	6,970,917

S-2

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)


Average Balance Sheet Data
	Three Months Ended										Six Months Ended
	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Jun. 30, 2026		Jun. 30, 2025
Assets:

Interest-earning assets:
Federal funds sold and other interest-earning deposits	$	256,961	$	344,353	$	407,022	$	476,681	$	622,909	$	300,416	$	570,140
Investment securities, including FHLB stock		912,466		906,692		901,006		806,304		686,223		909,595		653,058
Loans, including loans held for sale		5,396,640		5,464,500		5,365,734		5,281,369		5,318,666		5,430,382		5,407,821
Total interest-earning assets		6,566,067		6,715,545		6,673,762		6,564,354		6,627,798		6,640,393		6,631,019

Allowance for credit losses		(92,164)		(89,017)		(79,832)		(81,196)		(105,726)		(90,599)		(104,008)

Noninterest-earning assets:
Noninterest-earning cash and cash equivalents		100,038		132,446		70,289		82,616		125,098		116,152		256,814
Premises and equipment, net		41,741		37,907		38,868		37,557		33,250		39,835		32,883
Bank owned life insurance		111,718		111,300		110,385		109,381		108,416		111,510		108,010
Other assets		273,948		286,831		273,906		279,166		273,195		280,353		273,420

Total assets	$	7,001,348	$	7,195,012	$	7,087,378	$	6,991,878	$	7,062,031	$	7,097,644	$	7,198,138

Liabilities and Stockholders' Equity:

Interest-bearing liabilities:
Interest-bearing deposits	$	4,192,067	$	4,157,622	$	4,084,332	$	4,078,925	$	4,081,209	$	4,174,940	$	4,061,709
SSUARs and other short-term borrowings		82,507		89,307		133,851		73,135		87,760		85,888		98,202
Federal Home Loan Bank advances		158,654		426,794		377,793		372,283		370,000		291,983		444,972
Total interest-bearing liabilities		4,433,228		4,673,723		4,595,976		4,524,343		4,538,969		4,552,811		4,604,883

Noninterest-bearing liabilities and Stockholders’ Equity:
Noninterest-bearing deposits		1,289,710		1,257,977		1,261,600		1,254,609		1,323,622		1,273,931		1,406,890
Other liabilities		123,813		133,479		125,515		131,269		143,941		128,619		147,103
Stockholders' equity		1,154,597		1,129,833		1,104,287		1,081,657		1,055,499		1,142,283		1,039,262

Total liabilities and stockholders’ equity	$	7,001,348	$	7,195,012	$	7,087,378	$	6,991,878	$	7,062,031	$	7,097,644	$	7,198,138

S-3

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)

Total Company Average Balance Sheet and Interest Rates


		Three Months Ended June 30, 2026								Three Months Ended June 30, 2025
		Average						Average		Average						Average
		Balance			Interest			Rate		Balance			Interest			Rate

ASSETS

Interest-earning assets:
Federal funds sold and other interest-earning deposits		$	256,961		$	2,396		3.74	%	$	622,909		$	6,917		4.45	%
Investment securities, including FHLB stock (a)			912,466			9,442		4.15			686,223			6,346		3.71

TRS Refund Advances (b)			7,048			67		3.81			26,353			25		0.38
RCS LOC products (b)			48,068			14,036		117.12			46,252			12,434		107.83
Other RPG loans (c)			114,847			1,834		6.41			92,012			1,559		6.80
Outstanding Warehouse lines of credit			580,065			9,155		6.33			566,707			9,803		6.94
Traditional Banking loans (c)			4,646,612			65,601		5.66			4,587,342			65,119		5.69
Total loans (d)			5,396,640			90,693		6.74			5,318,666			88,940		6.71

Total interest-earning assets			6,566,067			102,531		6.26			6,627,798			102,203		6.19

Allowance for credit losses			(92,164)								(105,726)

Noninterest-earning assets:
Noninterest-earning cash and cash equivalents			100,038								125,098
Premises and equipment, net			41,741								33,250
Bank owned life insurance			111,718								108,416
Other assets (a)			273,948								273,195
Total assets		$	7,001,348							$	7,062,031

LIABILITIES AND STOCKHOLDERS’ EQUITY

Interest-bearing liabilities:
Transaction accounts		$	1,707,743		$	2,092		0.49	%	$	1,699,450		$	2,557		0.60	%
Money market accounts			1,565,003			9,324		2.39			1,406,053			10,183		2.90
Time deposits			518,078			4,612		3.57			445,129			4,168		3.76
Reciprocal money market and time deposits			298,577			1,935		2.60			318,576			2,622		3.30
Brokered deposits			102,666			1,159		4.53			212,001			2,320		4.39

Total interest-bearing deposits			4,192,067			19,122		1.83			4,081,209			21,850		2.15

SSUARs and other short-term borrowings			82,507			89		0.43			87,760			140		0.64
Federal Home Loan Bank advances			158,654			1,618		4.09			370,000			4,011		4.35

Total interest-bearing liabilities			4,433,228			20,829		1.88			4,538,969			26,001		2.30

Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits			1,289,710								1,323,622
Other liabilities			123,813								143,941
Stockholders’ equity			1,154,597								1,055,499
Total liabilities and stockholders’ equity		$	7,001,348							$	7,062,031

Net interest income					$	81,702							$	76,202

Net interest spread								4.38	%							3.89	%

Net interest margin								4.99	%							4.61	%

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

(b)	Interest income is composed either entirely or predominantly of loan fees.

(c)	Average balances include the principal balance of nonaccrual loans and loans held for sale that are not carried at fair value and are inclusive of all loan premiums, discounts, fees and costs.

(d)	See Footnote 2 of the Earnings Release Financial Supplement for detail of total loan fees by reporting segment.

S-4

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)



Income Statement Data
	Three Months Ended										Six Months Ended
	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Jun. 30, 2026		Jun. 30, 2025

Total interest income (2)	$	102,531	$	113,787	$	103,233	$	103,239	$	102,203	$	216,318	$	232,041
Total interest expense		20,829		23,335		24,423		26,269		26,001		44,164		53,151
Net interest income		81,702		90,452		78,810		76,970		76,202		172,154		178,890

Provision		5,157		9,780		10,079		2,023		1,823		14,937		19,495

Noninterest income:
Service charges on deposit accounts		4,068		3,883		3,825		3,646		3,505		7,951		6,965
Net refund transfer fees		3,208		9,525		108		1,117		2,567		12,733		16,460
Mortgage banking income (1)		1,799		1,825		1,620		2,064		1,896		3,624		3,717
Interchange fee income		3,623		2,873		2,884		3,030		3,200		6,496		6,277
Program fees (1)		5,058		4,549		4,444		4,888		4,451		9,607		8,273
Increase in cash surrender value of BOLI		943		930		947		1,035		821		1,873		1,614
Net losses on OREO		(41)		(50)		(53)		(52)		(53)		(91)		(106)
Gain on sale of Republic Bank Finance loans/leases (1)		—		5,845		—		—		—		5,845		—
Gain on sale of Visa Class B-1 shares		—		—		—		—		—		—		4,090
Other (1)		911		579		1,684		840		1,257		1,490		3,508
Total noninterest income		19,569		29,959		15,459		16,568		17,644		49,528		50,798

Noninterest expense:
Salaries and employee benefits		30,943		32,117		34,163		31,027		30,801		63,060		61,870
Technology, equipment, and communication		8,686		7,946		8,581		8,710		8,684		16,632		17,327
Occupancy		3,460		3,648		3,673		3,547		3,391		7,108		6,955
Marketing and development		3,097		1,778		2,422		2,668		1,243		4,875		2,630
FDIC insurance expense		720		832		751		763		731		1,552		1,550
Interchange related expense		1,405		1,401		1,609		1,640		1,488		2,806		3,124
Legal and professional fees		836		450		825		1,100		666		1,286		1,784
Core conversion and related contract consulting fees		—		—		220		97		182		—		5,896
FHLB advances early termination penalties		—		2,316		—		—		—		2,316		—
Other		4,417		4,758		4,351		4,201		4,447		9,175		8,705
Total noninterest expense		53,564		55,246		56,595		53,753		51,633		108,810		109,841

Income before income tax expense		42,550		55,385		27,595		37,762		40,390		97,935		100,352
Income tax expense		9,684		12,816		4,774		8,018		8,906		22,500		21,600

Net income	$	32,866	$	42,569	$	22,821	$	29,744	$	31,484	$	75,435	$	78,752

S-5

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)



Selected Data and Ratios
	As of and for the Three Months Ended															As of and for the Six Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025			Jun. 30, 2026			Jun. 30, 2025
Per Share Data:

Basic weighted average shares outstanding		19,833			19,795			19,744			19,733			19,721			19,819			19,721
Diluted weighted average shares outstanding		19,864			19,830			19,799			19,791			19,784			19,852			19,795

Period-end shares outstanding:
Class A Common Stock		17,498			17,467			17,393			17,387			17,378			17,498			17,378
Class B Common Stock		2,137			2,148			2,148			2,149			2,149			2,137			2,149

Book value per share (3)	$	58.92		$	57.78		$	56.41		$	55.51		$	54.29		$	58.92		$	54.29
Tangible book value per share (3)		56.44			55.30			53.91			53.01			51.78			56.44			51.78

Earnings per share ("EPS"):
Basic EPS - Class A Common Stock	$	1.69		$	2.18		$	1.17		$	1.53		$	1.62		$	3.86		$	4.04
Basic EPS - Class B Common Stock		1.53			1.98			1.07			1.39			1.47			3.51			3.68
Diluted EPS - Class A Common Stock		1.68			2.18			1.17			1.52			1.61			3.85			4.03
Diluted EPS - Class B Common Stock		1.53			1.98			1.06			1.39			1.47			3.50			3.66

Cash dividends declared per Common share:
Class A Common Stock	$	0.495		$	0.495		$	0.451		$	0.451		$	0.451		$	0.990		$	0.902
Class B Common Stock		0.450			0.450			0.410			0.410			0.410			0.900			0.820

Performance Ratios:

Return on average assets		1.88	%		2.40	%		1.28	%		1.69	%		1.79	%		2.14	%		2.21	%
Return on average equity		11.42			15.28			8.20			10.91			11.96			13.32			15.28
Efficiency ratio (4)		52.9			45.9			60.0			57.5			55.0			49.1			47.8
Yield on average interest-earning assets (2)		6.26			6.87			6.14			6.24			6.19			6.57			7.06
Cost of average interest-bearing liabilities		1.88			2.02			2.11			2.30			2.30			1.96			2.33
Cost of average deposits (5)		1.40			1.41			1.50			1.64			1.62			1.40			1.59
Net interest spread (2)		4.38			4.85			4.03			3.94			3.89			4.61			4.73
Net interest margin - Total Company (2)		4.99			5.46			4.69			4.65			4.61			5.23			5.44
Net interest margin - Core Bank (2)		4.02			3.96			3.87			3.78			3.72			3.99			3.71

Other Information:

End of period FTEs (6) - Total Company		958			966			973			978			974			958			974
End of period FTEs (6) - Core Bank		897			907			911			918			917			897			917
Number of full-service banking centers		47			47			47			47			47			47			47

S-6

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)


Loan Composition and Allowance for Credit Losses on Loans
		As of
		Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
Loan Composition:

Traditional Banking:
Residential real estate:
Owner-occupied		$	1,042,149		$	1,028,473		$	1,040,080		$	1,044,737		$	1,031,898
Nonowner-occupied			275,983			280,777			283,246			291,373			303,357
Commercial real estate
Owner-occupied			704,806			684,405			666,948			643,519			650,771
Nonowner-occupied			819,996			819,363			799,420			801,644			818,367
Multi-Family			377,392			328,154			331,370			321,453			319,905
Construction & land development			215,341			245,423			238,455			246,065			258,817
Commercial & industrial			547,145			541,646			528,873			488,786			481,219
Lease financing receivables			21,572			20,710			20,523			96,605			96,547
Aircraft			202,729			202,388			203,120			202,742			211,910
Home equity			429,812			425,662			413,638			399,691			387,599
Consumer:
Credit cards			11,422			11,659			10,711			10,787			10,315
Overdrafts			825			802			971			881			826
Automobile loans			645			678			738			813			916
Other consumer			5,692			6,151			8,204			9,210			9,705
Total Traditional Banking			4,655,509			4,596,291			4,546,297			4,558,306			4,582,152
Warehouse lines of credit			614,696			629,848			754,090			609,826			671,773
Total Core Banking			5,270,205			5,226,139			5,300,387			5,168,132			5,253,925

Republic Processing Group:
Tax Refund Solutions:
Refund Advances			—			8,458			12,924			—			—
Other TRS commercial & industrial loans			156			701			19,473			292			95
Republic Credit Solutions			140,045			131,675			113,545			112,950			119,000
Total Republic Processing Group			140,201			140,834			145,942			113,242			119,095

Total Loans - Total Company		$	5,410,406		$	5,366,973		$	5,446,329		$	5,281,374		$	5,373,020

Allowance for Credit Losses on Loans:

Traditional Banking		$	63,806		$	64,041		$	63,662		$	58,479		$	59,055
Warehouse Lending			1,533			1,571			1,882			1,522			1,676
Total Core Banking			65,339			65,612			65,544			60,001			60,731

Tax Refund Solutions			1			6,344			333			1			—
Republic Credit Solutions			22,427			19,884			19,475			19,863			21,029
Total Republic Processing Group			22,428			26,228			19,808			19,864			21,029

Total Allowance - Total Company		$	87,767		$	91,840		$	85,352		$	79,865		$	81,760

Allowance to Total Loans:

Traditional Banking			1.37	%		1.39	%		1.40	%		1.28	%		1.29
Warehouse Lending			0.25			0.25			0.25			0.25			0.25
Total Core Banking			1.24			1.26			1.24			1.16			1.16

Tax Refund Solutions			0.64			69.27			1.03			0.34			—
Republic Credit Solutions			16.01			15.10			17.15			17.59			17.67
Total Republic Processing Group			16.00			18.62			13.57			17.54			17.66

Total Company			1.62			1.71			1.57			1.51			1.52

S-7

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

(Dollars in thousands, except per-share amounts, number of employees, and number of banking centers, unless otherwise noted.)



Credit Quality Data and Ratios
	As of and for the Three Months Ended															As of and for the Six Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025			Jun. 30, 2026			Jun. 30, 2025

Nonperforming Assets - Total Company:
Loans on nonaccrual status	$	30,645		$	31,784		$	23,806		$	21,572		$	21,537		$	30,645		$	21,537
Loans past due 90-days-or-more and still on accrual		83			68			161			137			105			83			105
Total nonperforming loans		30,728			31,852			23,967			21,709			21,642			30,728			21,642
OREO		843			896			1,277			1,246			1,054			843			1,054
Total nonperforming assets	$	31,571		$	32,748		$	25,244		$	22,955		$	22,696		$	31,571		$	22,696

Nonperforming Assets - Core Bank:
Loans on nonaccrual status	$	30,645		$	31,784		$	23,806		$	21,572		$	21,537		$	30,645		$	21,537
Loans past due 90-days-or-more and still on accrual		4			—			—			—			—			4			—
Total nonperforming loans		30,649			31,784			23,806			21,572			21,537			30,649			21,537
OREO		843			896			1,277			1,246			1,054			843			1,054
Total nonperforming assets	$	31,492		$	32,680		$	25,083		$	22,818		$	22,591		$	31,492		$	22,591

Delinquent Loans:
Core Bank	$	18,436		$	33,052		$	13,925		$	10,691		$	9,953		$	18,436		$	9,953
RPG		10,054			9,690			8,938			8,691			9,133			10,054			9,133
Total delinquent loans - Total Company	$	28,490		$	42,742		$	22,863		$	19,382		$	19,086		$	28,490		$	19,086

NCOs (Recoveries) by Segment:
Traditional Banking	$	92		$	326		$	879		$	251		$	313		$	418		$	449
Warehouse Lending		—			—			—			—			—			—			—
Core Bank		92			326			879			251			313			418			449
Tax Refund Solutions		5,297			(669)			(894)			(1,468)			22,049			4,628			21,356
Republic Credit Solutions		3,841			3,635			4,607			5,135			4,004			7,476			7,908
RPG		9,138			2,966			3,713			3,667			26,053			12,104			29,264
Total NCOs (recoveries) - Total Company	$	9,230		$	3,292		$	4,592		$	3,918		$	26,366		$	12,522		$	29,713

Credit Quality Ratios - Total Company:

Nonperforming loans to total loans		0.57	%		0.59	%		0.44	%		0.41	%		0.40	%		0.57	%		0.40	%
Nonperforming assets to total loans (including OREO)		0.58			0.61			0.46			0.43			0.42			0.58			0.42
Nonperforming assets to total assets		0.45			0.45			0.36			0.33			0.33			0.45			0.33
Allowance for credit losses to total loans		1.62			1.71			1.57			1.51			1.52			1.62			1.52
Allowance for credit losses to nonperforming loans		286			288			356			368			378			286			378
Delinquent loans to total loans (7)		0.53			0.80			0.42			0.37			0.36			0.53			0.36
Annualized NCOs (recoveries) to average loans		0.69			0.24			0.34			0.29			1.99			0.47			1.99

Credit Quality Ratios - Core Bank:

Nonperforming loans to total loans		0.58	%		0.61	%		0.45	%		0.42	%		0.41	%		0.58	%		0.41	%
Nonperforming assets to total loans (including OREO)		0.60			0.63			0.47			0.44			0.43			0.60			0.43
Nonperforming assets to total assets		0.49			0.49			0.38			0.35			0.35			0.49			0.35
Allowance for credit losses to total loans		1.24			1.26			1.24			1.16			1.16			1.24			1.16
Allowance for credit losses to nonperforming loans		213			206			275			278			282			213			282
Delinquent loans to total loans (7)		0.35			0.63			0.26			0.21			0.19			0.35			0.19
Annualized NCOs (recoveries) to average loans		0.01			0.03			0.07			0.02			0.02			0.02			0.02

TRS Refund Advances ("RAs and ERAs")

RAs and ERAs originated	$	—		$	246,396		$	12,924		$	—		$	—		$	246,396		$	662,556
Net (credit) charge to the Provision for RAs and ERAs		(1,056)			5,318			(598)			(1,454)			(3,934)			4,262			11,401
RAs and ERAs NCOs (recoveries)		5,227			(669)			(894)			(1,454)			21,885			4,558			21,194

S-8

Republic Bancorp, Inc.

Earnings Release

Financial Supplement

Second Quarter 2026 (continued)

Segment Data:

Reportable segments are determined based on the products and services offered and the level of information provided to the chief operating decision maker (“CODM”). The CODM uses this information to review the performance of various components of the business, including banking centers and business units, which are aggregated when their operating performance, products and services, and clients are similar. The Company’s Executive Chair and Chief Executive Officer serves as the Company’s CODM. Income before income tax expense is the measure of segment profit or loss regularly reviewed by the CODM and used to allocate resources and evaluate performance.

As of June 30, 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 each segment’s operations and the primary drivers of net revenues by reportable segment are described below:


Reportable Segment:	Nature of Operations:	Primary Drivers of Net Revenue:

Core Banking:

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

Warehouse Lending	Provides short-term, revolving credit facilities to mortgage bankers across the U.S.	Net interest income

Republic Processing Group:

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

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

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 consistent with those described in the summary of significant accounting policies. Segment performance is evaluated based on 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 determined.

Transactions among reportable segments are recorded at carrying value. Net interest income is reflected within each applicable business segment based on the underlying financial instruments assigned to that segment and the impact of the Company’s internal funds transfer pricing process applied to each instrument. Funds transfer pricing is allocated from the Traditional Banking segment to each segment based on the assumed terms of the underlying financial instruments within that segment and applicable market interest rates corresponding to those assumed terms.

S-9

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

Segment information for the three and six months ended June 30, 2026, and 2025 follows:


	Three Months Ended June 30, 2026
	Core Banking									Republic Processing Group
								Total			Tax			Republic			Republic
		Traditional			Warehouse			Core			Refund			Payment			Credit			Total		Total
(dollars in thousands)		Banking			Lending			Banking			Solutions			Solutions			Solutions			RPG		Company

Net interest income	$	60,375		$	3,744		$	64,119		$	27		$	3,006		$	14,550		$	17,583		$	81,702

Provision for expected credit loss expense		(143)			(38)			(181)			(1,046)			—			6,384			5,338			5,157

Net refund transfer fees		—			—			—			3,208			—			—			3,208			3,208
Mortgage banking income		1,799			—			1,799			—			—			—			—			1,799
Program fees		—			—			—			—			743			4,315			5,058			5,058
Other noninterest income		9,443			23			9,466			37			1			—			38			9,504
Total noninterest income		11,242			23			11,265			3,245			744			4,315			8,304			19,569

Total noninterest expense		44,878			987			45,865			2,100			1,293			4,306			7,699			53,564

Income before income tax expense		26,882			2,818			29,700			2,218			2,457			8,175			12,850			42,550
Income tax expense		6,212			676			6,888			473			535			1,788			2,796			9,684

Net income	$	20,670		$	2,142		$	22,812		$	1,745		$	1,922		$	6,387		$	10,054		$	32,866

Period-end assets	$	5,770,433		$	614,989		$	6,385,422		$	20,226		$	494,952		$	161,229		$	676,407		$	7,061,829

Net interest margin		4.16	%		2.59	%		4.02	%		NM			NM			NM			NM			4.99	%

Net-revenue concentration*		70	%		4	%		74	%		3	%		4	%		19	%		26	%		100	%


	Three Months Ended June 30, 2025
	Core Banking									Republic Processing Group
								Total			Tax			Republic			Republic
		Traditional			Warehouse			Core			Refund			Payment			Credit			Total			Total
(dollars in thousands)		Banking			Lending			Banking			Solutions			Solutions			Solutions			RPG			Company

Net interest income	$	56,380		$	3,549		$	59,929		$	62		$	3,563		$	12,648		$	16,273		$	76,202

Provision for expected credit loss expense		517			255			772			(3,932)			—			4,983			1,051			1,823

Net refund transfer fees		—			—			—			2,567			—			—			2,567			2,567
Mortgage banking income		1,896			—			1,896			—			—			—			—			1,896
Program fees		—			—			—			—			735			3,716			4,451			4,451
Other noninterest income		8,550			23			8,573			156			1			—			157			8,730
Total noninterest income		10,446			23			10,469			2,723			736			3,716			7,175			17,644

Total noninterest expense		44,633			951			45,584			2,504			1,179			2,366			6,049			51,633

Income before income tax expense		21,676			2,366			24,042			4,213			3,120			9,015			16,348			40,390
Income tax expense		4,820			533			5,353			901			679			1,973			3,553			8,906

Net income	$	16,856		$	1,833		$	18,689		$	3,312		$	2,441		$	7,042		$	12,795		$	31,484

Period-end assets	$	5,788,697		$	672,166		$	6,460,863		$	32,771		$	346,586		$	130,697		$	510,054		$	6,970,917

Net interest margin		3.84	%		2.51	%		3.72	%		NM			NM			NM			NM			4.61	%

Net-revenue concentration*		71	%		4	%		75	%		3	%		5	%		17	%		25	%		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.

S-10

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)


	Six Months Ended June 30, 2026
	Core Banking									Republic Processing Group
								Total			Tax			Republic			Republic
		Traditional			Warehouse			Core			Refund			Payment			Credit			Total			Total
(dollars in thousands)		Banking			Lending			Banking			Solutions			Solutions			Solutions			RPG			Company

Net interest income	$	119,702		$	7,644		$	127,346		$	11,457		$	6,043		$	27,308		$	44,808		$	172,154

Provision for expected credit loss expense		562			(349)			213			4,296			—			10,428			14,724			14,937

Net refund transfer fees		—			—			—			12,733			—			—			12,733			12,733
Mortgage banking income		3,624			—			3,624			—			—			—			—			3,624
Program fees		—			—			—			—			1,519			8,088			9,607			9,607
Gain on sale of Republic Bank Finance loans/leases		5,845			—			5,845			—			—			—			—			5,845
Other noninterest income		17,548			47			17,595			120			3			1			124			17,719
Total noninterest income		27,017			47			27,064			12,853			1,522			8,089			22,464			49,528

Total noninterest expense		91,266			1,923			93,189			5,365			2,472			7,784			15,621			108,810

Income before income tax expense		54,891			6,117			61,008			14,649			5,093			17,185			36,927			97,935
Income tax expense		12,969			1,468			14,437			3,193			1,111			3,759			8,063			22,500

Net income	$	41,922		$	4,649		$	46,571		$	11,456		$	3,982		$	13,426		$	28,864		$	75,435

Period-end assets	$	5,770,433		$	614,989		$	6,385,422		$	20,226		$	494,952		$	161,229		$	676,407		$	7,061,829

Net interest margin		4.13	%		2.59	%		3.99	%		NM			NM			NM			NM			5.23	%

Net-revenue concentration*		67	%		3	%		70	%		11	%		3	%		16	%		30	%		100	%


	Six Months Ended June 30, 2025
	Core Banking									Republic Processing Group
								Total			Tax			Republic			Republic
		Traditional			Warehouse			Core			Refund			Payment			Credit			Total			Total
(dollars in thousands)		Banking			Lending			Banking			Solutions			Solutions			Solutions			RPG			Company

Net interest income	$	109,701		$	6,577		$	116,278		$	29,874		$	7,557		$	25,181		$	62,612		$	178,890

Provision for expected credit loss expense		(252)			302			50			11,495			—			7,950			19,445			19,495

Net refund transfer fees		—			—			—			16,460			—			—			16,460			16,460
Mortgage banking income		3,717			—			3,717			—			—			—			—			3,717
Program fees		—			—			—			—			1,502			6,771			8,273			8,273
Gain on sale of Visa Class B-1 shares		4,090			—			4,090			—			—			—			—			4,090
Other noninterest income		18,003			43			18,046			210			1			1			212			18,258
Total noninterest income		25,810			43			25,853			16,670			1,503			6,772			24,945			50,798

Total noninterest expense		94,539			1,823			96,362			5,727			2,239			5,513			13,479			109,841

Income before income tax expense		41,224			4,495			45,719			29,322			6,821			18,490			54,633			100,352
Income tax expense		8,656			1,013			9,669			6,399			1,485			4,047			11,931			21,600

Net income	$	32,568		$	3,482		$	36,050		$	22,923		$	5,336		$	14,443		$	42,702		$	78,752

Period-end assets	$	5,788,697		$	672,166		$	6,460,863		$	32,771		$	346,586		$	130,697		$	510,054		$	6,970,917

Net interest margin		3.81	%		2.59	%		3.71	%		NM			NM	%		NM			NM			5.44	%

Net-revenue concentration*		59	%		3	%		62	%		20	%		4	%		14	%		38	%		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.

S-11

Earnings Release Financial Supplement

Footnotes:

(1)

In the ordinary course of business, the Bank originates both mortgage and consumer loans with the intent to sell. Mortgage loans held for sale are primarily originated and sold into the secondary market through the Traditional Banking segment, while consumer loans held for sale are originated and sold through the Republic Credit Solutions segment. Gains on the sale of mortgage loans are recorded as a component of “Mortgage Banking” income. Gains on the sale of Republic Credit Solutions consumer loans are recorded as a component of “Program Fees.”

During the second quarter of 2025, the Traditional Banking segment entered into an agreement to sell its consumer credit card portfolio. As a result, these loans were transferred from held for investment to loans held for sale, and the related gain 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 Republic Bank Finance loans and lease financing receivables. As a result, these loans and lease financing receivables were transferred from held for investment to loans held for sale, and the related gain 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 Six Months Ended
(dollars in thousands)	Jun. 30, 2026			Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Jun. 30, 2026		Jun. 30, 2025

Mortgage Loans Held for Sale

Balance, beginning of period	$	12,953		$	7,516	$	15,338	$	8,850	$	9,140	$	7,516	$	8,312
Originations		67,334			47,990		58,417		59,494		51,788		115,324		93,021
Transferred from held for investment to held for sale		—			—		—		—		—		—		—
Proceeds from sales		(65,182)			(44,042)		(67,560)		(54,716)		(53,561)		(109,224)		(95,377)
Net gain on sale		1,461			1,489		1,321		1,710		1,483		2,950		2,894
Balance, end of period	$	16,566		$	12,953	$	7,516	$	15,338	$	8,850	$	16,566	$	8,850

Consumer Loans Held for Sale

Balance, beginning of period	$	28,829		$	27,995	$	24,868	$	27,952	$	32,125	$	27,995	$	24,075
Originations		379,542			291,165		277,273		271,718		321,127		670,707		587,778
Transferred from held for investment to held for sale		—			—		—		—		—		—		4,977
Proceeds from sales		(371,254)			(294,104)		(277,926)		(278,908)		(329,345)		(665,358)		(595,978)
Net gain on sale		4,314			3,773		3,780		4,106		4,045		8,087		7,100
Balance, end of period	$	41,431		$	28,829	$	27,995	$	24,868	$	27,952	$	41,431	$	27,952

Other Loans Held for Sale

Balance, beginning of period	$	—		$	81,839	$	—	$	—	$	—	$	81,839	$	—
Transferred from held for investment to held for sale		—			—		81,839		—		—		—		—
Proceeds from sales		—			(87,684)		—		—		—		(87,684)		—
Net gain on sale		—			5,845		—		—		—		5,845		—
Balance, end of period	$	—		$	—	$	81,839	$	—	$	—	$	—	$	—

(2)	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:



	Three Months Ended										Six Months Ended
(in thousands)	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Jun. 30, 2026		Jun. 30, 2025

Traditional Banking	$	1,264	$	1,304	$	2,003	$	1,393	$	1,367	$	2,568	$	2,658
Warehouse Lending		361		396		362		364		369		757		679
Total Core Bank		1,625		1,700		2,365		1,757		1,736		3,325		3,337
Tax Refund Solutions		77		13,528		288		17		25		13,605		33,700
Republic Credit Solutions		14,036		12,441		11,411		12,123		12,434		26,477		24,671
Total Republic Processing Group		14,113		25,969		11,699		12,140		12,459		40,082		58,371

Total Loan Fees	$	15,738	$	27,669	$	14,064	$	13,897	$	14,195	$	43,407	$	61,708

S-12

(3)

The following table reconciles total stockholders’ equity in accordance with GAAP to tangible stockholders’ equity, a non-GAAP measure. The Company provides tangible book value per share, a non-GAAP measure, in addition to measures defined by banking regulators, because it is widely used by investors to evaluate capital adequacy.


	As of
(dollars in thousands, except per share data)	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025

Total stockholders' equity - GAAP (a)	$	1,156,797		$	1,133,387		$	1,102,293		$	1,084,520		$	1,060,106
Less: Goodwill		40,516			40,516			40,516			40,516			40,516
Less: Mortgage servicing rights		6,783			6,693			6,811			6,798			6,840
Less: Core deposit intangible		1,343			1,432			1,535			1,637			1,739
Tangible stockholders' equity - Non-GAAP (c)	$	1,108,155		$	1,084,746		$	1,053,431		$	1,035,569		$	1,011,011

Total assets - GAAP (b)	$	7,061,829		$	7,253,279		$	7,042,061		$	7,014,919		$	6,970,917
Less: Goodwill		40,516			40,516			40,516			40,516			40,516
Less: Mortgage servicing rights		6,783			6,693			6,811			6,798			6,840
Less: Core deposit intangible		1,343			1,432			1,535			1,637			1,739
Tangible assets - Non-GAAP (d)	$	7,013,187		$	7,204,638		$	6,993,199		$	6,965,968		$	6,921,822

Total stockholders' equity to total assets - GAAP (a/b)		16.38	%		15.63	%		15.65	%		15.46	%		15.21	%
Tangible stockholders' equity to tangible assets - Non-GAAP (c/d)		15.80	%		15.06	%		15.06	%		14.87	%		14.61	%

Number of shares outstanding (e)		19,635			19,615			19,541			19,536			19,527

Book value per share - GAAP (a/e)	$	58.92		$	57.78		$	56.41		$	55.51		$	54.29
Tangible book value per share - Non-GAAP (c/e)		56.44			55.30			53.91			53.01			51.78

(4)

The efficiency ratio, a non-GAAP measure, equals total noninterest expense divided by total revenue, which is the sum of net interest income and noninterest income. The adjusted efficiency ratio, a non-GAAP measure with no directly comparable GAAP measure, excludes notable infrequent or nonrecurring revenues and expenses related to 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, the early termination penalty on Federal Home Loan Bank advances and core system deconversion and related consulting fees.



	Three Months Ended															Six Months Ended
(dollars in thousands)	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025			Jun. 30, 2026			Jun. 30, 2025

Net interest income - GAAP (a)	$	81,702		$	90,452		$	78,810		$	76,970		$	76,202		$	172,154		$	178,890
Noninterest income - GAAP (b)		19,569			29,959			15,459			16,568			17,644			49,528			50,798
Total net revenue - GAAP (c)	$	101,271		$	120,411		$	94,269		$	93,538		$	93,846		$	221,682		$	229,688
Less: Gain on sale of Republic Bank Finance	$	—		$	5,845		$	—		$	—		$	—			5,845			—
Less: Nonrenewal of a large tax provider contract		—			—			(280)			580			2,201			—			13,004
Less: Gain on sale of Visa Class B-1 shares		—			—			—			—			—			—			4,090
Less: Gain on sale of consumer credit card portfolio		—			—			—			—			328			—			328
Less: Insurance recovery		—			—			—			—			—			—			1,571
Total adjusted revenue - Non-GAAP (e)	$	101,271		$	114,566		$	94,549		$	92,958		$	91,317		$	215,837		$	210,695


Noninterest expense - GAAP (d)	$	53,564		$	55,246		$	56,595		$	53,753		$	51,633		$	108,810		$	109,841
Less: Early termination penalty - FHLB advances		—			2,316			—			—			—			2,316			—
Less: Core system deconversion and consulting fees		—			—			220			97			182			—			5,896
Total adjusted noninterest expense - Non-GAAP (f)	$	53,564		$	52,930		$	56,375		$	53,656		$	51,451		$	106,494		$	103,945

Efficiency Ratio - GAAP (d/c)		52.9	%		45.9	%		60.0	%		57.5	%		55.0	%		49.1	%		47.8	%
Adjusted Efficiency Ratio - Non-GAAP (f/e)		52.9	%		46.2	%		59.6	%		57.7	%		56.3	%		49.3	%		49.3	%

S-13

(5)	The cost of average deposits ratio equals annualized total interest expense on deposits divided by the sum of total average interest-bearing deposits and total average noninterest-bearing deposits.

(6)	FTEs – Full-time-equivalent employees.

(7)

The delinquent loans to total loans ratio equals loans 30 days or more past due divided by total loans. Depending on the loan class, delinquency is determined based on either the number of days or the number of payments past due. As of June 30, 2026, delinquent loans for the Republic Processing Group segment included $0 of Early Season Refund Advances and Refund Advances, which do not have contractual due dates but were considered delinquent in 2026 if they 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.

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

S-14