3Q

Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

FIRST 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-11

S-1

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
	Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Mar. 31, 2025
Assets:
Cash and cash equivalents	$	599,105	$	219,972	$	484,238	$	484,808	$	793,020
Investment securities		886,641		890,582		849,226		711,906		615,663
Loans held for sale (1)		41,782		117,350		40,206		36,802		41,265
Loans		5,366,973		5,446,329		5,281,374		5,373,020		5,289,793
Allowance for credit losses		(91,840)		(85,352)		(79,865)		(81,760)		(106,303)
Loans, net		5,275,133		5,360,977		5,201,509		5,291,260		5,183,490
Federal Home Loan Bank ("FHLB") stock, at cost		27,014		32,114		25,849		24,568		26,748
Premises and equipment, net		40,843		35,986		37,884		36,651		31,996
Right-of-use assets		30,443		31,330		32,804		34,327		35,857
Goodwill		40,516		40,516		40,516		40,516		40,516
Other real estate owned ("OREO")		896		1,277		1,246		1,054		1,107
Bank owned life insurance ("BOLI")		111,272		110,721		109,773		108,738		107,918
Other assets and accrued interest receivable		199,634		201,236		191,668		200,287		197,975
Total assets	$	7,253,279	$	7,042,061	$	7,014,919	$	6,970,917	$	7,075,555

Liabilities and Stockholders' Equity:
Deposits:
Noninterest-bearing	$	1,275,427	$	1,173,461	$	1,239,023	$	1,223,016	$	1,375,234
Interest-bearing		4,233,693		4,029,686		4,099,322		4,094,223		4,030,658
Total deposits		5,509,120		5,203,147		5,338,345		5,317,239		5,405,892

Securities sold under agreements to
repurchase ("SSUAR") and other short-term borrowings		81,337		88,504		74,522		72,103		89,718
Operating lease liabilities		31,492		32,370		33,833		35,335		36,831
Federal Home Loan Bank advances		366,500		506,000		375,000		370,000		370,000
Other liabilities and accrued interest payable		131,443		109,747		108,699		116,134		139,025
Total liabilities		6,119,892		5,939,768		5,930,399		5,910,811		6,041,466

Stockholders' equity		1,133,387		1,102,293		1,084,520		1,060,106		1,034,089
Total liabilities and stockholders' equity	$	7,253,279	$	7,042,061	$	7,014,919	$	6,970,917	$	7,075,555

S-2

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
	Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Mar. 31, 2025
Assets:

Interest-earning assets:
Federal funds sold and other interest-earning deposits	$	344,353	$	407,022	$	476,681	$	622,909	$	516,785
Investment securities, including FHLB stock		906,692		901,006		806,304		686,223		619,525
Loans, including loans held for sale		5,464,500		5,365,734		5,281,369		5,318,666		5,497,968
Total interest-earning assets		6,715,545		6,673,762		6,564,354		6,627,798		6,634,278

Allowance for credit losses		(89,017)		(79,832)		(81,196)		(105,726)		(102,271)

Noninterest-earning assets:
Noninterest-earning cash and cash equivalents		132,446		70,289		82,616		125,098		389,994
Premises and equipment, net		37,907		38,868		37,557		33,250		32,513
Bank owned life insurance		111,300		110,385		109,381		108,416		107,599
Other assets		286,831		273,906		279,166		273,195		273,643

Total assets	$	7,195,012	$	7,087,378	$	6,991,878	$	7,062,031	$	7,335,756

Liabilities and Stockholders' Equity:

Interest-bearing liabilities:
Interest-bearing deposits	$	4,157,622	$	4,084,332	$	4,078,925	$	4,081,209	$	4,041,991
SSUARs and other short-term borrowings		89,307		133,851		73,135		87,760		108,760
Federal Home Loan Bank advances		426,794		377,793		372,283		370,000		520,778
Total interest-bearing liabilities		4,673,723		4,595,976		4,524,343		4,538,969		4,671,529

Noninterest-bearing liabilities and Stockholders’ Equity:
Noninterest-bearing deposits		1,257,977		1,261,600		1,254,609		1,323,622		1,491,084
Other liabilities		133,479		125,515		131,269		143,941		150,299
Stockholders' equity		1,129,833		1,104,287		1,081,657		1,055,499		1,022,844

Total liabilities and stockholders’ equity	$	7,195,012	$	7,087,378	$	6,991,878	$	7,062,031	$	7,335,756

S-3

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, 2025
		Average						Average		Average						Average
		Balance			Interest			Rate		Balance			Interest			Rate

ASSETS

Interest-earning assets:
Federal funds sold and other interest-earning deposits		$	344,353		$	3,107		3.66	%	$	516,785		$	5,670		4.45	%
Investment securities, including FHLB stock (a)			906,692			9,469		4.24			619,525			5,311		3.48
TRS Refund Advances (b)			82,159			12,351		60.97			276,877			33,290		48.76
RCS LOC products (b)			44,239			12,441		114.05			45,514			12,237		109.04
Other RPG loans (c)			109,432			2,626		9.73			141,130			2,004		5.76
Outstanding Warehouse lines of credit			610,442			9,549		6.34			458,657			7,991		7.07
Traditional Bank loans (c)			4,618,228			64,244		5.64			4,575,790			63,335		5.61
Total loans (d)			5,464,500			101,211		7.51			5,497,968			118,857		8.77

Total interest-earning assets			6,715,545			113,787		6.87			6,634,278			129,838		7.94

Allowance for credit losses			(89,017)								(102,271)

Noninterest-earning assets:
Noninterest-earning cash and cash equivalents			132,446								389,994
Premises and equipment, net			37,907								32,513
Bank owned life insurance			111,300								107,599
Other assets (a)			286,831								273,643
Total assets		$	7,195,012							$	7,335,756

LIABILITIES AND STOCKHOLDERS’ EQUITY

Interest-bearing liabilities:
Transaction accounts		$	1,665,041		$	1,810		0.44	%	$	1,736,500		$	2,667		0.62	%
Money market accounts			1,551,952			9,096		2.38			1,348,717			9,475		2.85
Time deposits			497,607			4,478		3.65			413,082			3,972		3.90
Reciprocal money market and time deposits			327,066			2,180		2.70			296,373			2,478		3.39
Brokered deposits			115,956			1,268		4.43			247,319			2,786		4.57

Total interest-bearing deposits			4,157,622			18,832		1.84			4,041,991			21,378		2.14

SSUARs and other short-term borrowings			89,307			89		0.40			108,760			137		0.51
Federal Home Loan Bank advances			426,794			4,414		4.19			520,778			5,635		4.39

Total interest-bearing liabilities			4,673,723			23,335		2.02			4,671,529			27,150		2.36

Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits			1,257,977								1,491,084
Other liabilities			133,479								150,299
Stockholders’ equity			1,129,833								1,022,844
Total liabilities and stockholders’ equity		$	7,195,012							$	7,335,756

Net interest income					$	90,452							$	102,688

Net interest spread								4.85	%							5.58	%

Net interest margin								5.46	%							6.28	%

(a)	For the purpose of this calculation, the fair market 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)	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.

(d)	See Footnote 2 titled “Loan Fee Income.”

S-4

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
	Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Mar. 31, 2025

Total interest income (2)	$	113,787	$	103,233	$	103,239	$	102,203	$	129,838
Total interest expense		23,335		24,423		26,269		26,001		27,150
Net interest income		90,452		78,810		76,970		76,202		102,688

Provision		9,780		10,079		2,023		1,823		17,672

Noninterest income:
Service charges on deposit accounts		3,883		3,825		3,646		3,505		3,460
Net refund transfer fees		9,525		108		1,117		2,567		13,893
Mortgage banking income (1)		1,825		1,620		2,064		1,896		1,821
Interchange fee income		2,873		2,884		3,030		3,200		3,077
Program fees (1)		4,549		4,444		4,888		4,451		3,822
Increase in cash surrender value of BOLI		930		947		1,035		821		793
Net losses on OREO		(50)		(53)		(52)		(53)		(53)
Gain on sale of Republic Bank Finance loans/leases (1)		5,845		—		—		—		—
Gain on sale of Visa Class B-1 shares		—		—		—		—		4,090
Other (1)		579		1,684		840		1,257		2,251
Total noninterest income		29,959		15,459		16,568		17,644		33,154

Noninterest expense:
Salaries and employee benefits		32,117		34,163		31,027		30,801		31,069
Technology, equipment, and communication		7,946		8,581		8,710		8,684		8,643
Occupancy		3,648		3,673		3,547		3,391		3,564
Marketing and development		1,778		2,422		2,668		1,243		1,387
FDIC insurance expense		832		751		763		731		819
Interchange related expense		1,401		1,609		1,640		1,488		1,636
Legal and professional fees		450		825		1,100		666		1,118
Core conversion and related contract consulting fees		—		220		97		182		5,714
FHLB advances early termination penalties		2,316		—		—		—		—
Other		4,758		4,351		4,201		4,447		4,258
Total noninterest expense		55,246		56,595		53,753		51,633		58,208

Income before income tax expense		55,385		27,595		37,762		40,390		59,962
Income tax expense		12,816		4,774		8,018		8,906		12,694

Net income	$	42,569	$	22,821	$	29,744	$	31,484	$	47,268

S-5

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)



Selected Data and Ratios
	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		19,795			19,744			19,733			19,721			19,711
Diluted weighted average shares outstanding		19,830			19,799			19,791			19,784			19,797

Period-end shares outstanding:
Class A Common Stock		17,467			17,393			17,387			17,378			17,368
Class B Common Stock		2,148			2,148			2,149			2,149			2,150

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"):
Basic EPS - Class A Common Stock	$	2.18		$	1.17		$	1.53		$	1.62		$	2.43
Basic EPS - Class B Common Stock		1.98			1.07			1.39			1.47			2.21
Diluted EPS - Class A Common Stock		2.18			1.17			1.52			1.61			2.42
Diluted EPS - Class B Common Stock		1.98			1.06			1.39			1.47			2.20

Cash dividends declared per Common share:
Class A Common Stock	$	0.495		$	0.451		$	0.451		$	0.451		$	0.451
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

S-6

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)


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

Traditional Banking:
Residential real estate:
Owner-occupied		$	1,028,473		$	1,040,080		$	1,044,737		$	1,031,898		$	1,025,461
Nonowner-occupied			280,777			283,246			291,373			303,357			311,955
Commercial real estate
Owner-occupied			684,405			666,948			643,519			650,771			651,531
Nonowner-occupied			819,363			799,420			801,644			818,367			832,504
Multi-Family			328,154			331,370			321,453			319,905			322,725
Construction & land development			245,423			238,455			246,065			258,817			238,562
Commercial & industrial			541,646			528,873			488,786			481,219			482,955
Lease financing receivables			20,710			20,523			96,605			96,547			93,159
Aircraft			202,388			203,120			202,742			211,910			219,292
Home equity			425,662			413,638			399,691			387,599			365,631
Consumer:
Credit cards			11,659			10,711			10,787			10,315			11,136
Overdrafts			802			971			881			826			779
Automobile loans			678			738			813			916			1,031
Other consumer			6,151			8,204			9,210			9,705			9,638
Total Traditional Banking			4,596,291			4,546,297			4,558,306			4,582,152			4,566,359
Warehouse lines of credit			629,848			754,090			609,826			671,773			569,502
Total Core Banking			5,226,139			5,300,387			5,168,132			5,253,925			5,135,861

Republic Processing Group:
Tax Refund Solutions:
Refund Advances			8,458			12,924			—			—			30,344
Other TRS commercial & industrial loans			701			19,473			292			95			5,841
Republic Credit Solutions			131,675			113,545			112,950			119,000			117,747
Total Republic Processing Group			140,834			145,942			113,242			119,095			153,932

Total Loans - Total Company		$	5,366,973		$	5,446,329		$	5,281,374		$	5,373,020		$	5,289,793

Allowance for Credit Losses on Loans:

Traditional Banking		$	64,041		$	63,662		$	58,479		$	59,055		$	58,851
Warehouse Lending			1,571			1,882			1,522			1,676			1,421
Total Core Banking			65,612			65,544			60,001			60,731			60,272

Tax Refund Solutions			6,344			333			1			—			25,981
Republic Credit Solutions			19,884			19,475			19,863			21,029			20,050
Total Republic Processing Group			26,228			19,808			19,864			21,029			46,031

Total Allowance - Total Company		$	91,840		$	85,352		$	79,865		$	81,760		$	106,303

Allowance to Total Loans:

Traditional Banking			1.39	%		1.40	%		1.28	%		1.29	%		1.29
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

Tax Refund Solutions			69.27			1.03			0.34			—			71.80
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

S-7

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)



Credit Quality Data and Ratios
	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	$	31,784		$	23,806		$	21,572		$	21,537		$	22,730
Loans past due 90-days-or-more and still on accrual		68			161			137			105			120
Total nonperforming loans		31,852			23,967			21,709			21,642			22,850
OREO		896			1,277			1,246			1,054			1,107
Total nonperforming assets	$	32,748		$	25,244		$	22,955		$	22,696		$	23,957

Nonperforming Assets - Core Bank:
Loans on nonaccrual status	$	31,784		$	23,806		$	21,572		$	21,537		$	22,730
Loans past due 90-days-or-more and still on accrual		—			—			—			—			—
Total nonperforming loans		31,784			23,806			21,572			21,537			22,730
OREO		896			1,277			1,246			1,054			1,107
Total nonperforming assets	$	32,680		$	25,083		$	22,818		$	22,591		$	23,837

Delinquent Loans:
Core Bank	$	33,052		$	13,925		$	10,691		$	9,953		$	9,031
RPG		9,690			8,938			8,691			9,133			8,282
Total delinquent loans - Total Company	$	42,742		$	22,863		$	19,382		$	19,086		$	17,313

NCOs (Recoveries) by Segment:
Traditional Bank	$	326		$	879		$	251		$	313		$	136
Warehouse Lending		—			—			—			—			—
Core Bank		326			879			251			313			136
Tax Refund Solutions		(669)			(894)			(1,468)			22,049			(693)
Republic Credit Solutions		3,635			4,607			5,135			4,004			3,904
RPG		2,966			3,713			3,667			26,053			3,211
Total NCOs (recoveries) - Total Company	$	3,292		$	4,592		$	3,918		$	26,366		$	3,347

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	$	246,396		$	12,924		$	—		$	—		$	662,556
Net (credit) charge to the Provision for RAs and ERAs		5,318			(598)			(1,454)			(3,934)			15,335
RAs and ERAs NCOs (recoveries)		(669)			(894)			(1,454)			21,885			(691)

S-8

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:

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 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.

S-9

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
	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	$	59,327		$	3,900		$	63,227		$	11,430		$	3,037		$	12,758		$	27,225		$	90,452

Provision for expected credit loss expense		705			(311)			394			5,342			—			4,044			9,386			9,780

Net refund transfer fees		—			—			—			9,525			—			—			9,525			9,525
Mortgage banking income		1,825			—			1,825			—			—			—			—			1,825
Program fees		—			—			—			—			776			3,773			4,549			4,549
Gain on sale of Republic Bank Finance loans/leases		5,845			—			5,845			—			—			—			—			5,845
Other noninterest income		8,105			24			8,129			83			2			1			86			8,215
Total noninterest income		15,775			24			15,799			9,608			778			3,774			14,160			29,959

Total noninterest expense		46,388			936			47,324			3,265			1,179			3,478			7,922			55,246

Income before income tax expense		28,009			3,299			31,308			12,431			2,636			9,010			24,077			55,385
Income tax expense		6,757			792			7,549			2,720			576			1,971			5,267			12,816

Net income	$	21,252		$	2,507		$	23,759		$	9,711		$	2,060		$	7,039		$	18,810		$	42,569

Period-end assets	$	6,060,972		$	629,878		$	6,690,850		$	69,707		$	349,831		$	142,891		$	562,429		$	7,253,279

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
	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	$	53,321		$	3,028		$	56,349		$	29,812		$	3,994		$	12,533		$	46,339		$	102,688

Provision for expected credit loss expense		(769)			47			(722)			15,427			—			2,967			18,394			17,672

Net refund transfer fees		—			—			—			13,893			—			—			13,893			13,893
Mortgage banking income		1,821			—			1,821			—			—			—			—			1,821
Program fees		—			—			—			—			767			3,055			3,822			3,822
Gain on sale of Visa Class B-1 shares		4,090			—			4,090			—			—			—			—			4,090
Other noninterest income		9,453			20			9,473			54			—			1			55			9,528
Total noninterest income		15,364			20			15,384			13,947			767			3,056			17,770			33,154

Total noninterest expense		49,906			872			50,778			3,223			1,060			3,147			7,430			58,208

Income before income tax expense		19,548			2,129			21,677			25,109			3,701			9,475			38,285			59,962
Income tax expense		3,836			480			4,316			5,498			806			2,074			8,378			12,694

Net income	$	15,712		$	1,649		$	17,361		$	19,611		$	2,895		$	7,401		$	29,907		$	47,268

Period-end assets	$	5,797,416		$	569,862		$	6,367,278		$	192,037		$	386,362		$	129,878		$	708,277		$	7,075,555

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.

S-10

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First Quarter 2026 (continued)

Footnotes:

(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
(dollars in thousands)	Mar. 31, 2026			Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025		Mar. 31, 2025

Mortgage Loans Held for Sale

Balance, beginning of period	$	7,516		$	15,338	$	8,850	$	9,140	$	8,312
Originations		47,990			58,417		59,494		51,788		41,233
Transferred from held for investment to held for sale		—			—		—		—		—
Proceeds from sales		(44,042)			(67,560)		(54,716)		(53,561)		(41,816)
Net gain on sale		1,489			1,321		1,710		1,483		1,411
Balance, end of period	$	12,953		$	7,516	$	15,338	$	8,850	$	9,140

Consumer Loans Held for Sale

Balance, beginning of period	$	27,995		$	24,868	$	27,952	$	32,125	$	24,075
Originations		291,165			277,273		271,718		321,127		266,651
Transferred from held for investment to held for sale		—			—		—		—		4,977
Proceeds from sales		(294,104)			(277,926)		(278,908)		(329,345)		(266,633)
Net gain on sale		3,773			3,780		4,106		4,045		3,055
Balance, end of period	$	28,829		$	27,995	$	24,868	$	27,952	$	32,125

Other Loans Held for Sale

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

(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:



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

Traditional Banking	$	1,304	$	2,003	$	1,393	$	1,367	$	1,291
Warehouse Lending		396		362		364		369		310
Total Core Bank		1,700		2,365		1,757		1,736		1,601
Tax Refund Solutions		13,528		288		17		25		33,675
Republic Credit Solutions		12,441		11,411		12,123		12,434		12,237
Total Republic Processing Group		25,969		11,699		12,140		12,459		45,912

Total Loan Fees	$	27,669	$	14,064	$	13,897	$	14,195	$	47,513

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(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.


	As of
(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)	$	1,133,387		$	1,102,293		$	1,084,520		$	1,060,106		$	1,034,089
Less: Goodwill		40,516			40,516			40,516			40,516			40,516
Less: Mortgage servicing rights		6,693			6,811			6,798			6,840			6,875
Less: Core deposit intangible		1,432			1,535			1,637			1,739			1,841
Tangible stockholders' equity - Non-GAAP (c)	$	1,084,746		$	1,053,431		$	1,035,569		$	1,011,011		$	984,857

Total assets - GAAP (b)	$	7,253,279		$	7,042,061		$	7,014,919		$	6,970,917		$	7,075,555
Less: Goodwill		40,516			40,516			40,516			40,516			40,516
Less: Mortgage servicing rights		6,693			6,811			6,798			6,840			6,875
Less: Core deposit intangible		1,432			1,535			1,637			1,739			1,841
Tangible assets - Non-GAAP (d)	$	7,204,638		$	6,993,199		$	6,965,968		$	6,921,822		$	7,026,323

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)		19,615			19,541			19,536			19,527			19,518

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

(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.



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

Net interest income - GAAP (a)	$	90,452		$	78,810		$	76,970		$	76,202		$	102,688
Noninterest income - GAAP (b)		29,959			15,459			16,568			17,644			33,154
Total net revenue - GAAP (c)	$	120,411		$	94,269		$	93,538		$	93,846		$	135,842
Less: Gain on sale of Republic Bank Finance	$	5,845		$	—		$	—		$	—		$	—
Less: Nonrenewal of a large tax provider contract		—			—			—			—			10,803
Less: Gain on sale of Visa Class B-1 shares		—			—			—			—			4,090
Less: Gain on sale of consumer credit card portfolio		—			—			—			328			—
Less: Insurance recovery		—			—			—			—			1,571
Total adjusted revenue - Non-GAAP (e)	$	114,566		$	94,269		$	93,538		$	93,518		$	119,378


Noninterest expense - GAAP (d)	$	55,246		$	56,595		$	53,753		$	51,633		$	58,208
Less: Early termination penalty - FHLB advances		2,316			—			—			—			—
Less: Core system deconversion and consulting fees		—			220			97			182			5,714
Total adjusted noninterest expense - Non-GAAP (f)	$	52,930		$	56,375		$	53,656		$	51,451		$	52,494

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	%

S-12

(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.

(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 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

S-13