Republic Bancorp (RBCAA) came out with quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.3 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.00%. A quarter ago, it was expected that this holding company for Republic Bank & Trust would post earnings of $1.38 per share when it actually produced earnings of $1.52, delivering a surprise of +10.14%.Over ...

Exhibit 99.2 EARNINGS RELEASE FINANCIAL SUPPLEMENT FOURTH QUARTER 2025 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 Financi ...

LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bank & Trust Company ("Republic†or the "Bank†) is proud to announce the promotion of Brad Comer to Chief Investment Officer. "Brad is an invaluable member of the Republic Bank family, and I'm incredibly proud of the work he has done over the past two decades,†said Logan Pichel, President and CEO, Republic Bank. "Brad embodies the values and standards of our organization, and my team and I are looking forward to working closely with him as he step. ...

LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bank & Trust Company ("Republic†or the "Bank†) is proud to announce the promotion of Emily Miller to Managing Director of Retail Banking. "Over the course of her tenure, Emily has embodied the values and standards of our organization and has consistently delivered outstanding results,†said Logan Pichel, President and CEO, Republic Bank. "Her leadership has consistently elevated her team's performance, fostered strong working relationships with he. ...

CINCINNATI--(BUSINESS WIRE)--Republic Bank & Trust Company ("Republic†or the "I'm excited to join Republic Bank and lead efforts in such vibrant and growing counties,†Etherington said. "Republic Bank's culture, community commitment, and client-centered approach align perfectly with my values. I look forward to serving our clients and helping businesses and families thrive.†Etherington will be based in Republic Bank's southwest Ohio market and will partner closely with local business, civic, and nonprofi ...

Core Viewpoint - Republic Bancorp (RBCAA) has been upgraded to a Zacks Rank 2 (Buy), reflecting an upward trend in earnings estimates, which significantly influences stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks the Zacks Consensus Estimate, which is a measure of EPS estimates from sell-side analysts, for the current and following years [1]. - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4]. - Institutional investors utilize earnings estimates to calculate the fair value of a company's shares, leading to stock price movements based on their buying or selling activities [4]. Business Outlook for Republic Bancorp - The upgrade in rating suggests an improvement in Republic Bancorp's underlying business, which should lead to an increase in stock price as investors respond positively [5]. - The Zacks Consensus Estimate for Republic Bancorp is projected at $6.85 per share for the fiscal year ending December 2025, with a 2.7% increase in estimates over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - Republic Bancorp's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Financial Performance - Total Company net income for Q3 2025 was $29.7 million, an increase of $3.2 million, or 12%, compared to Q3 2024 [298]. - Diluted EPS increased 11% to $1.52 for Q3 2025 compared to $1.37 for the same period in 2024 [298]. - Total Company net income for the first nine months of 2025 was $108.5 million, a $26.1 million, or 32%, increase from the same period in 2024 [357]. - Diluted EPS increased 32% to $5.55 for the first nine months of 2025 compared to $4.24 for the same period in 2024 [357]. - Net income increased by $4.2 million, or 24%, for the first nine months of 2025 compared to the same period in 2024 [364]. Net Interest Income - Total Company net interest income increased by $5.7 million, or 8%, to $77.0 million in Q3 2025 compared to $71.3 million in Q3 2024 [308]. - Traditional Bank net interest income rose by $6.4 million, or 13%, to $57.4 million in Q3 2025 from $51.0 million in Q3 2024, driven by growth in average interest-earning assets and NIM expansion [309]. - Net interest income for the third quarter of 2025 was $76,970 thousand, up from $71,305 thousand in the third quarter of 2024, representing an increase of 8.73% [325]. - Total Company net interest income was $255.9 million during the first nine months of 2025, an increase of $19.1 million, or 8%, from the first nine months of 2024 [368]. - Traditional Bank net interest income increased by $17.9 million, or 12%, to $167.1 million for the first nine months of 2025 [369]. Loan Performance and Provisions - The Bank maintains an Allowance for Credit Losses on Loans (ACLL) for expected credit losses, which is evaluated monthly and discussed quarterly with the Audit Committee and Board of Directors [227]. - Provision for loan losses was a net charge of $4.0 million in Q3 2025, down from a net charge of $6.4 million in Q3 2024 [311]. - The total provision for credit losses was a net charge of $2.0 million in Q3 2025, significantly lower than the $5.7 million charge in Q3 2024, marking a decrease of 64.91% [329]. - The Traditional Banking segment recorded a net credit to the provision of $325,000 in Q3 2025, compared to a net charge of $1.5 million in Q3 2024, reflecting improved asset quality [330]. - The provision for credit losses decreased to $21.5 million in 2025 from $41.4 million in 2024, indicating a reduction of 48.00% [388]. Segment Performance - The Traditional Banking segment's performance is primarily driven by net interest income, which is the difference between interest income and fees on interest-earning assets and interest expense on interest-bearing liabilities [238]. - Traditional Banking segment net income increased $2.3 million, or 15%, from Q3 2024 to Q3 2025 [303]. - Republic Payment Solutions segment reported a decrease in noninterest income of $576,000, or 5%, from Q3 2024 to Q3 2025 [303]. - Republic Credit Solutions segment net income increased $72,000 from Q3 2024 to Q3 2025 [304]. - Tax Refund Solutions segment's net interest income decreased by $2.0 million, or 6%, from the first nine months of 2024 to the first nine months of 2025 [376]. Asset and Deposit Growth - Total assets increased to $6,991,878 thousand as of September 30, 2025, compared to $6,711,818 thousand in the same period of 2024, reflecting a growth of 4.16% [325]. - Total Traditional Bank deposits increased $337 million, or 7%, from December 31, 2024, to $4.91 billion as of September 30, 2025 [360]. - Average interest-bearing deposit balances grew by $260 million, or 7%, while the weighted-average cost of these deposits decreased from 2.77% in Q3 2024 to 2.32% in Q3 2025 [315]. Credit Quality - The RCS allowance for credit losses (ACLL) was 17.59% as of September 30, 2025, up from 15.70% a year earlier, reflecting a shift towards higher risk loan categories [341]. - Nonperforming loans to total loans for the RCS segment was 0.12% as of September 30, 2025, compared to 0.11% as of December 31, 2024 [364]. - Delinquent loans to total loans for the RCS segment decreased to 7.69% as of September 30, 2025, from 8.00% as of December 31, 2024 [364]. Tax Refund Solutions - The Bank's Tax Refund Solutions segment generates most of its revenue during the first half of the year, with RT revenue recognized immediately after the taxpayer's refund is disbursed [269][272]. - The ERA loan product allows taxpayers to borrow funds as an advance of their tax refund, with a maximum advance amount of $6,500 for the 2024 Tax Season [273]. - Total ERA/RA origination volume for the 2025 tax filing season totaled $802 million, representing a $72 million, or 8%, decline from $874 million originated for the 2024 tax filing season [361]. - RA origination volume totaled $663 million during the first nine months of 2025, a decrease from $771 million in the same period of 2024 [364].

分组1 - Republic Bancorp reported quarterly earnings of $1.52 per share, exceeding the Zacks Consensus Estimate of $1.38 per share, and showing an increase from $1.37 per share a year ago, resulting in an earnings surprise of +10.14% [1] - The company posted revenues of $93.54 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.67%, and an increase from $88.12 million year-over-year [2] - Over the last four quarters, Republic Bancorp has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] 分组2 - The stock has underperformed the market, losing about 2.1% since the beginning of the year compared to the S&P 500's gain of 12.7% [3] - The current consensus EPS estimate for the coming quarter is $1.27 on $92 million in revenues, and for the current fiscal year, it is $6.67 on $408 million in revenues [7] - The Zacks Industry Rank for Banks - Southeast is currently in the top 29% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

[Balance Sheet Data](index=2&type=section&id=BALANCE%20SHEET%20DATA) Republic Bancorp, Inc.'s balance sheet data for the third quarter of 2025 shows a slight increase in total assets and stockholders' equity compared to the previous quarter, while total deposits also saw a modest rise | Metric (in thousands) | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | | :-------------------- | :------------ | :------------ | :------------ | | Total assets | $7,014,919 | $6,970,917 | $6,692,470 | | Loans, net | $5,201,509 | $5,291,260 | $5,214,759 | | Total deposits | $5,338,345 | $5,317,239 | $5,101,696 | | Stockholders' equity | $1,084,520 | $1,060,106 | $979,705 | - Total assets increased by **$44.0 million (0.63%)** from June 30, 2025, to September 30, 2025, and by **$322.4 million (4.82%)** year-over-year from September 30, 2024[4](index=4&type=chunk) - Total deposits increased by **$21.1 million (0.40%)** from June 30, 2025, to September 30, 2025, and by **$236.6 million (4.64%)** year-over-year from September 30, 2024[4](index=4&type=chunk) [Average Balance Sheet Data](index=3&type=section&id=AVERAGE%20BALANCE%20SHEET%20DATA) The average balance sheet data for the third quarter of 2025 shows a slight decrease in total average assets and interest-earning assets compared to the previous quarter, but an increase year-over-year | Metric (in thousands) | Three Months Ended Sep. 30, 2025 | Three Months Ended Jun. 30, 2025 | Three Months Ended Sep. 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Total assets | $6,991,878 | $7,062,031 | $6,711,818 | | Total interest-earning assets | $6,564,354 | $6,627,798 | $6,312,419 | | Total interest-bearing liabilities | $4,524,343 | $4,538,969 | $4,281,727 | - Average total assets decreased by **$70.2 million (1.0%)** quarter-over-quarter but increased by **$280.1 million (4.2%)** year-over-year[6](index=6&type=chunk) - Average total interest-earning assets decreased by **$63.4 million (1.0%)** quarter-over-quarter but increased by **$251.9 million (4.0%)** year-over-year[6](index=6&type=chunk) [Total Company Average Balance Sheets and Interest Rates](index=4&type=section&id=TOTAL%20COMPANY%20AVERAGE%20BALANCE%20SHEETS%20AND%20INTEREST%20RATES) For the three months ended September 30, 2025, Republic Bancorp reported an increase in net interest income and net interest margin compared to the same period in 2024, driven by higher yields on investment securities and traditional bank loans | Metric | Three Months Ended Sep. 30, 2025 | Three Months Ended Sep. 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | | Net interest income (in thousands) | $76,970 | $71,305 | | Net interest spread | 3.94 % | 3.59 % | | Net interest margin | 4.65 % | 4.49 % | | Average Rate - Total interest-earning assets | 6.24 % | 6.40 % | | Average Rate - Total interest-bearing liabilities | 2.30 % | 2.81 % | - Net interest income increased by **$5.665 million (7.9%)** year-over-year[7](index=7&type=chunk) - Net interest margin improved by **0.16 percentage points** year-over-year, reaching **4.65%**[7](index=7&type=chunk) - The average rate on total interest-earning assets decreased from **6.40% to 6.24%** year-over-year, while the cost of average interest-bearing liabilities decreased from **2.81% to 2.30%** year-over-year[7](index=7&type=chunk) [Income Statement Data](index=5&type=section&id=INCOME%20STATEMENT%20DATA) Republic Bancorp's Q3 2025 income statement shows a slight quarter-over-quarter net income decrease but a significant year-over-year increase, driven by improved net interest income and year-to-date noninterest income growth | Metric (in thousands) | Three Months Ended Sep. 30, 2025 | Three Months Ended Jun. 30, 2025 | Three Months Ended Sep. 30, 2024 | Nine Months Ended Sep. 30, 2025 | Nine Months Ended Sep. 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Total interest income | $103,239 | $102,203 | $101,546 | $335,280 | $329,878 | | Total interest expense | $26,269 | $26,001 | $30,241 | $79,420 | $93,118 | | Net interest income | $76,970 | $76,202 | $71,305 | $255,860 | $236,760 | | Total noninterest income | $16,568 | $17,644 | $16,813 | $67,366 | $58,532 | | Total noninterest expense | $53,753 | $51,633 | $48,609 | $163,594 | $149,214 | | Net income | $29,744 | $31,484 | $26,543 | $108,496 | $82,355 | - Net income for Q3 2025 was **$29.744 million**, a decrease from **$31.484 million** in Q2 2025, but an increase from **$26.543 million** in Q3 2024[10](index=10&type=chunk) - Year-to-date net income for Sep 30, 2025, was **$108.496 million**, a significant increase from **$82.355 million** for the same period in 2024[10](index=10&type=chunk) - Provision for expected credit loss expense decreased significantly year-to-date, from **$41.425 million** in 2024 to **$21.518 million** in 2025[10](index=10&type=chunk) [Selected Data and Ratios](index=6&type=section&id=SELECTED%20DATA%20AND%20RATIOS) Republic Bancorp's selected data and ratios for Q3 2025 indicate improved profitability and capital adequacy year-over-year, with higher book value per share and return on average assets, despite a slight increase in the efficiency ratio quarter-over-quarter [Per Share Data](index=6&type=section&id=Per%20Share%20Data) Book value per share and tangible book value per share continued to increase, reflecting growth in stockholders' equity, while basic and diluted EPS for Class A Common Stock showed a decrease quarter-over-quarter but a strong increase year-to-date | Metric | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 (YTD) | Sep. 30, 2024 (YTD) | | :-------------------------- | :------------ | :------------ | :------------ | :------------------ | :------------------ | | Book value per share | $55.51 | $54.29 | $50.39 | $55.51 | $50.39 | | Tangible book value per share | $53.01 | $51.78 | $47.84 | $53.01 | $47.84 | | Basic EPS - Class A Common Stock | $1.53 | $1.62 | $1.37 | $5.57 | $4.25 | | Diluted EPS - Class A Common Stock | $1.52 | $1.61 | $1.37 | $5.55 | $4.24 | | Cash dividends declared per Class A Common share | $0.451 | $0.451 | $0.407 | $1.353 | $1.221 | - Book value per share increased by **$1.22 (2.25%)** quarter-over-quarter and **$5.12 (10.16%)** year-over-year[11](index=11&type=chunk) - Basic EPS for Class A Common Stock decreased from **$1.62** in Q2 2025 to **$1.53** in Q3 2025, but the year-to-date figure increased from **$4.25** in 2024 to **$5.57** in 2025[11](index=11&type=chunk) [Performance Ratios](index=6&type=section&id=Performance%20Ratios) Key performance ratios show an improvement in profitability metrics year-over-year, with Return on Average Assets and Return on Average Equity increasing, while the efficiency ratio slightly increased quarter-over-quarter but improved year-to-date | Metric | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 (YTD) | Sep. 30, 2024 (YTD) | | :----------------------------------- | :------------ | :------------ | :------------ | :------------------ | :------------------ | | Return on average assets | 1.69 % | 1.79 % | 1.58 % | 2.03 % | 1.60 % | | Return on average equity | 10.91 % | 11.96 % | 10.88 % | 13.77 % | 11.53 % | | Efficiency ratio | 57.4 % | 55.0 % | 55.2 % | 49.7 % | 50.5 % | | Net interest margin - Total Company | 4.65 % | 4.61 % | 4.49 % | 5.18 % | 4.92 % | - Return on average assets increased from **1.58%** in Q3 2024 to **1.69%** in Q3 2025, and year-to-date from **1.60% to 2.03%**[11](index=11&type=chunk) - The efficiency ratio for Q3 2025 was **57.4%**, an increase from **55.0%** in Q2 2025, but the year-to-date efficiency ratio improved from **50.5%** in 2024 to **49.7%** in 2025[11](index=11&type=chunk) [Other Information](index=6&type=section&id=Other%20Information) The company maintained a stable number of full-time equivalent employees (FTEs) and banking centers, indicating consistent operational infrastructure | Metric | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | | :-------------------------- | :------------ | :------------ | :------------ | | End of period FTEs - Total Company | 978 | 974 | 992 | | Number of full-service banking centers | 47 | 47 | 47 | - Total Company FTEs slightly increased quarter-over-quarter from **974 to 978**, but decreased from **992** year-over-year[11](index=11&type=chunk) [Loan Composition and Allowance for Credit Losses on Loans](index=7&type=section&id=LOAN%20COMPOSITION) Republic Bancorp's loan portfolio shows a slight decrease in total loans quarter-over-quarter, primarily driven by a reduction in Warehouse lines of credit and Republic Processing Group loans, while the Allowance for Credit Losses on Loans also decreased [Loan Composition](index=7&type=section&id=Loan%20Composition) Traditional Banking loans remained relatively stable, while Warehouse lines of credit decreased, and Republic Processing Group loans saw a significant reduction, particularly in Tax Refund Solutions, compared to previous quarters | Loan Category (in thousands) | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | | :--------------------------- | :------------ | :------------ | :------------ | | Total Traditional Banking | $4,558,306 | $4,582,152 | $4,566,896 | | Warehouse lines of credit | $609,826 | $671,773 | $595,163 | | Total Core Banking | $5,168,132 | $5,253,925 | $5,162,059 | | Total Republic Processing Group | $113,242 | $119,095 | $134,858 | | Total Loans - Total Company | $5,281,374 | $5,373,020 | $5,296,917 | - Total loans decreased by **$91.6 million (1.7%)** quarter-over-quarter and by **$15.5 million (0.3%)** year-over-year[12](index=12&type=chunk) - Warehouse lines of credit decreased by **$61.9 million (9.2%)** quarter-over-quarter[12](index=12&type=chunk) [Allowance for Credit Losses on Loans](index=7&type=section&id=Allowance%20for%20Credit%20Losses%20on%20Loans) The total allowance for credit losses decreased quarter-over-quarter and year-over-year, with the allowance to total loans ratio for the Total Company remaining relatively stable, while the Tax Refund Solutions segment showed significant fluctuations | Metric (in thousands) | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | | :-------------------- | :------------ | :------------ | :------------ | | Total Allowance - Total Company | $79,865 | $81,760 | $82,158 | | Allowance to Total Loans - Total Company | 1.51 % | 1.52 % | 1.55 % | | Allowance to Total Loans - Tax Refund Solutions | 0.34 % | — % | 0.33 % | | Allowance to Total Loans - Republic Credit Solutions | 17.59 % | 17.67 % | 15.70 % | - Total Allowance for Credit Losses decreased by **$1.895 million (2.3%)** quarter-over-quarter and by **$2.293 million (2.8%)** year-over-year[12](index=12&type=chunk) - The Allowance to Total Loans for the Total Company slightly decreased from **1.52% to 1.51%** quarter-over-quarter and from **1.55%** year-over-year[12](index=12&type=chunk) [Credit Quality Data and Ratios](index=8&type=section&id=CREDIT%20QUALITY%20DATA%20AND%20RATIOS) Republic Bancorp's credit quality data for Q3 2025 shows a slight increase in nonperforming assets and delinquent loans quarter-over-quarter for the Total Company, but a decrease in annualized net charge-offs year-to-date, with the Core Bank generally maintaining stable credit quality | Metric (in thousands) | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 (YTD) | Sep. 30, 2024 (YTD) | | :-------------------- | :------------ | :------------ | :------------ | :------------------ | :------------------ | | Total nonperforming assets - Total Company | $22,955 | $22,696 | $20,757 | $22,955 | $20,757 | | Total delinquent loans - Total Company | $19,382 | $19,086 | $20,950 | $19,382 | $20,950 | | Total NCOs (recoveries) - Total Company | $3,918 | $26,366 | $4,188 | $33,631 | $41,402 | | Nonperforming loans to total loans - Total Company | 0.41 % | 0.40 % | 0.37 % | 0.41 % | 0.37 % | | Annualized NCOs (recoveries) to average loans - Total Company | 0.29 % | 1.99 % | 0.32 % | 0.84 % | 1.04 % | - Total nonperforming assets for the Total Company increased by **$259 thousand (1.1%)** quarter-over-quarter and by **$2.198 million (10.6%)** year-over-year[14](index=14&type=chunk) - Total delinquent loans for the Total Company increased by **$296 thousand (1.6%)** quarter-over-quarter but decreased by **$1.568 million (7.5%)** year-over-year[14](index=14&type=chunk) - Annualized Net Charge-offs (NCOs) to average loans for the Total Company decreased significantly year-to-date from **1.04%** in 2024 to **0.84%** in 2025[14](index=14&type=chunk) [Segment Data](index=9&type=section&id=SEGMENT%20DATA) Republic Bancorp operates through five reportable segments: Traditional Banking, Warehouse Lending, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions, with performance evaluated based on income before tax expense [Reportable Segments Overview](index=9&type=section&id=Reportable%20Segments%20Overview) The company's segments are categorized into Core Banking and Republic Processing Group, each with distinct operations and primary revenue drivers - Core Banking includes Traditional Banking (traditional products, net interest income) and Warehouse Lending (short-term revolving credit, net interest income)[18](index=18&type=chunk) - Republic Processing Group includes Tax Refund Solutions (tax-related credit, net interest income and net refund transfer fees), Republic Payment Solutions (general-purpose reloadable cards, net interest income and program fees), and Republic Credit Solutions (consumer credit products, net interest income and program fees)[18](index=18&type=chunk) - Management considers Traditional Banking and Warehouse Lending as 'Core Bank' operations, while Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions constitute 'Republic Processing Group' operations[16](index=16&type=chunk) [Segment Performance - Three Months Ended September 30, 2025](index=10&type=section&id=Segment%20Performance%20-%20Three%20Months%20Ended%20September%2030%2C%202025) For Q3 2025, Core Banking contributed the majority of net interest income and income before tax, with Republic Credit Solutions also showing significant contributions within the Republic Processing Group | Segment (in thousands) | Net interest income | Provision for expected credit loss expense | Income before income tax expense | Net income | Net-revenue concentration | | :--------------------- | :------------------ | :----------------------------------------- | :------------------------------- | :--------- | :------------------------ | | Traditional Banking | $57,424 | $(325) | $22,057 | $17,466 | 72 % | | Warehouse Lending | $3,805 | $(154) | $3,035 | $2,351 | 4 % | | Tax Refund Solutions | $280 | $(1,467) | $554 | $459 | 2 % | | Republic Payment Solutions | $3,193 | — | $2,870 | $2,246 | 4 % | | Republic Credit Solutions | $12,268 | $3,969 | $9,246 | $7,222 | 18 % | | Total Company | $76,970 | $2,023 | $37,762 | $29,744 | 100 % | - Core Banking segments (Traditional Banking and Warehouse Lending) generated **$61.229 million** in net interest income and **$25.092 million** in income before income tax expense[20](index=20&type=chunk) - Republic Credit Solutions was the largest contributor within the Republic Processing Group, with **$12.268 million** in net interest income and **$9.246 million** in income before income tax expense[20](index=20&type=chunk) [Segment Performance - Nine Months Ended September 30, 2025](index=11&type=section&id=Segment%20Performance%20-%20Nine%20Months%20Ended%20September%2030%2C%202025) For the nine months ended September 30, 2025, Core Banking remained the dominant segment, while Tax Refund Solutions and Republic Credit Solutions significantly contributed to overall company performance within the Republic Processing Group | Segment (in thousands) | Net interest income | Provision for expected credit loss expense | Income before income tax expense | Net income | Net-revenue concentration | | :--------------------- | :------------------ | :----------------------------------------- | :------------------------------- | :--------- | :------------------------ | | Traditional Banking | $167,125 | $(577) | $63,281 | $50,034 | 63 % | | Warehouse Lending | $10,382 | $148 | $7,530 | $5,833 | 3 % | | Tax Refund Solutions | $30,154 | $10,028 | $29,876 | $23,382 | 15 % | | Republic Payment Solutions | $10,750 | — | $9,691 | $7,582 | 4 % | | Republic Credit Solutions | $37,449 | $11,919 | $27,736 | $21,665 | 15 % | | Total Company | $255,860 | $21,518 | $138,114 | $108,496 | 100 % | - Core Banking segments contributed **$177.507 million** to net interest income and **$70.811 million** to income before income tax expense for the nine-month period[22](index=22&type=chunk) - Tax Refund Solutions showed a significant net interest income of **$30.154 million** and income before tax of **$29.876 million**, with a net-revenue concentration of **15%**[22](index=22&type=chunk) [Footnotes](index=12&type=section&id=FOOTNOTES) The footnotes provide crucial details on loan fee income, the nature of provision for credit loss expense, the treatment of mortgage and consumer loans held for sale, and reconciliations of non-GAAP financial measures [Loan Fee Income by Segment](index=12&type=section&id=Loan%20Fee%20Income%20by%20Segment) Loan fee income significantly impacts interest income and margins, with Republic Processing Group segments, particularly RCS and TRS, generating a substantial portion of total loan fees | Segment (in thousands) | Sep. 30, 2025 (QTD) | Sep. 30, 2024 (QTD) | Sep. 30, 2025 (YTD) | Sep. 30, 2024 (YTD) | | :--------------------- | :------------------ | :------------------ | :------------------ | :------------------ | | Traditional Banking | $1,393 | $1,518 | $4,051 | $4,165 | | Warehouse Lending | $364 | $392 | $1,043 | $977 | | TRS | $17 | $42 | $33,717 | $36,669 | | RCS | $12,123 | $12,935 | $36,794 | $35,579 | | Total loan fees - Total Company | $13,897 | $14,887 | $75,605 | $77,390 | - Total loan fees for the Total Company decreased by **$990 thousand (6.6%)** quarter-over-quarter and by **$1.785 million (2.3%)** year-to-date[23](index=23&type=chunk) - RCS consistently generated the largest portion of loan fees within the RPG segment, contributing **$12.123 million** in Q3 2025[23](index=23&type=chunk) [Mortgage and Consumer Loans Held for Sale](index=12&type=section&id=Mortgage%20and%20Consumer%20Loans%20Held%20for%20Sale) The company originates both mortgage and consumer loans with the intent to sell, primarily through the Traditional Banking and RCS segments, with net gains on sale contributing to noninterest income | Metric (in thousands) | Sep. 30, 2025 (QTD) | Sep. 30, 2024 (QTD) | Sep. 30, 2025 (YTD) | Sep. 30, 2024 (YTD) | | :-------------------- | :------------------ | :------------------ | :------------------ | :------------------ | | Mortgage Loans Held for Sale - Originations | $59,494 | $57,142 | $152,515 | $136,894 | | Mortgage Loans Held for Sale - Net gain on sale | $1,710 | $1,413 | $4,604 | $2,430 | | Consumer Loans Held for Sale - Originations | $271,718 | $350,413 | $859,496 | $940,901 | | Consumer Loans Held for Sale - Net gain on sale | $4,106 | $4,177 | $11,206 | $11,221 | - Mortgage loan originations held for sale increased by **$2.352 million (4.1%)** quarter-over-quarter and by **$15.621 million (11.4%)** year-to-date[25](index=25&type=chunk) - Consumer loan originations held for sale decreased by **$49.409 million (15.4%)** quarter-over-quarter and by **$81.405 million (8.7%)** year-to-date[25](index=25&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=13&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) The company provides reconciliations for non-GAAP measures like tangible stockholders' equity and adjusted efficiency ratio, offering a clearer view of capital adequacy and operational efficiency | Metric (in thousands) | Sep. 30, 2025 | Jun. 30, 2025 | Sep. 30, 2024 | | :-------------------- | :------------ | :------------ | :------------ | | Total stockholders' equity - GAAP | $1,084,520 | $1,060,106 | $979,705 | | Tangible stockholders' equity - Non-GAAP | $1,035,569 | $1,011,011 | $930,065 | | Book value per share - GAAP | $55.51 | $54.29 | $50.39 | | Tangible book value per share - Non-GAAP | $53.01 | $51.78 | $47.84 | - Tangible stockholders' equity increased by **$24.558 million (2.4%)** quarter-over-quarter and by **$105.504 million (11.3%)** year-over-year[28](index=28&type=chunk) | Metric | Sep. 30, 2025 (QTD) | Sep. 30, 2024 (QTD) | Sep. 30, 2025 (YTD) | Sep. 30, 2024 (YTD) | | :-------------------------- | :------------------ | :------------------ | :------------------ | :------------------ | | Efficiency Ratio - GAAP-derived | 57.5 % | 55.2 % | 50.6 % | 50.5 % | | Adjusted Efficiency Ratio - Non-GAAP | 57.4 % | 55.2 % | 49.7 % | 50.5 % | - The Adjusted Efficiency Ratio for Q3 2025 was **57.4%**, an increase from **55.2%** in Q3 2024, but the year-to-date ratio improved from **50.5%** in 2024 to **49.7%** in 2025[29](index=29&type=chunk)

Group 1 - Investors in Republic Bancorp, Inc. (RBCAA) should monitor the stock due to significant activity in the options market, particularly the Sep 19, 2025 $70.00 Put, which has high implied volatility [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that a significant event may be anticipated that could lead to a major price change [2] - Republic Bancorp is currently rated as Zacks Rank 3 (Hold) in the Banks - Southeast industry, which is in the top 5% of the Zacks Industry Rank [3] Group 2 - Over the past 30 days, one analyst has raised earnings estimates for the current quarter, increasing the Zacks Consensus Estimate from $1.35 to $1.38 per share [3] - The high implied volatility may indicate a developing trade opportunity, as options traders often seek to sell premium on options with high implied volatility to capture decay [4]