Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

SECOND QUARTER 2023

TABLE OF CONTENTS

BALANCE SHEET DATA	S-2
AVERAGE BALANCE SHEET DATA	S-3
INCOME STATEMENT DATA	S-4
SELECTED DATA AND RATIOS	S-5
LOAN COMPOSITION	S-6
ALLOWANCE FOR CREDIT LOSSES ON LOANS	S-6
CREDIT QUALITY DATA AND RATIOS	S-7
SEGMENT DATA	S-8
FOOTNOTES	S-10

S-1

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023

(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																$ Change					$ Change
		Jun. 30, 2023			Mar. 31, 2023			Dec. 31, 2022			Sep. 30, 2022			Jun. 30, 2022				From Dec. 31,2022					From Jun. 30, 2022
Assets:
Cash and cash equivalents		$	241,967		$	249,289		$	313,689		$	754,393		$	795,143			$	(71,722)				$	(553,176)
Investment securities, net of allowance for credit losses			706,238			725,163			707,862			662,750			655,296				(1,624)					50,942
Loans held for sale			25,582			18,466			19,177			24,387			39,727				6,405					(14,145)
Loans			5,053,142			4,774,234			4,515,802			4,289,450			4,362,233				537,340					690,909
Allowance for credit losses			(72,202)			(96,121)			(70,413)			(64,919)			(64,449)				(1,789)					(7,753)
Loans, net			4,980,940			4,678,113			4,445,389			4,224,531			4,297,784				535,551					683,156
Federal Home Loan Bank stock, at cost			29,395			25,939			9,146			8,568			10,311				20,249					19,084
Premises and equipment, net			33,840			33,672			31,978			32,813			33,886				1,862					(46)
Right-of-use assets			34,939			36,245			37,017			41,303			41,364				(2,078)					(6,425)
Goodwill			40,516			41,618			16,300			16,300			16,300				24,216					24,216
Other real estate owned ("OREO")			1,478			1,529			1,581			1,634			1,687				(103)					(209)
Bank owned life insurance ("BOLI")			102,521			102,322			101,687			101,013			100,396				834					2,125
Low-income housing tax credit investments			77,426			73,901			75,324			63,319			58,446				2,102					18,980
Other assets and accrued interest receivable			94,937			87,834			76,393			68,652			62,136				18,544					32,801
Total assets		$	6,369,779		$	6,074,091		$	5,835,543		$	5,999,663		$	6,112,476			$	534,236				$	257,303
Liabilities and Stockholders' Equity:
Deposits:
Noninterest-bearing		$	1,854,907		$	2,013,957		$	1,908,768		$	2,013,337		$	2,093,853			$	(53,861)				$	(238,946)
Interest-bearing			2,874,374			2,785,711			2,629,077			2,786,385			2,733,093				245,297					141,281
Total deposits			4,729,281			4,799,668			4,537,845			4,799,722			4,826,946				191,436					(97,665)
Securities sold under agreements to
repurchase ("SSUAR") and other short-term borrowings			92,093			134,412			216,956			209,376			303,315				(124,863)					(211,222)
Operating lease liabilities			35,721			37,031			37,809			42,109			42,163				(2,088)					(6,442)
Federal Home Loan Bank advances			520,000			108,000			95,000			20,000			20,000				425,000					500,000
Low-income housing tax credit obligations			55,998			42,437			43,609			32,224			27,974				12,389					28,024
Other liabilities and accrued interest payable			49,715			70,341			47,711			53,169			48,212				2,004					1,503
Total liabilities			5,482,808			5,191,889			4,978,930			5,156,600			5,268,610				503,878					214,198
Stockholders' equity			886,971			882,202			856,613			843,063			843,866				30,358					43,105
Total liabilities and stockholders' equity		$	6,369,779		$	6,074,091		$	5,835,543		$	5,999,663		$	6,112,476			$	534,236				$	257,303

S-2

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (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																Six Months Ended							$ Change  (8)
		Jun. 30, 2023			Mar. 31, 2023			Dec. 31, 2022			Sep. 30, 2022			Jun. 30, 2022				Jun. 30, 2023			Jun. 30, 2022				6M to 6M
Assets:
Interest-earning assets:
Federal funds sold and other interest-earning deposits		$	114,368		$	241,211		$	553,695		$	727,626		$	813,956			$	177,439		$	837,757			$	(660,318)
Investment securities, including FHLB stock			774,829			773,172			693,825			694,781			691,427				774,006			649,040				124,966
Loans, including loans held for sale			4,904,167			4,665,543			4,353,256			4,306,169			4,339,432				4,785,513			4,347,299				438,214
Total interest-earning assets			5,793,364			5,679,926			5,600,776			5,728,576			5,844,815				5,736,958			5,834,096				(97,138)
Allowance for credit losses			(96,720)			(83,195)			(65,290)			(65,262)			(72,037)				(89,995)			(70,670)				(19,325)
Noninterest-earning assets:
Noninterest-earning cash and cash equivalents			113,865			295,905			115,416			108,069			172,382				204,382			262,772				(58,390)
Premises and equipment, net			33,967			32,232			32,518			33,307			34,322				33,104			34,888				(1,784)
Bank owned life insurance			102,599			102,004			101,361			100,740			100,152				102,303			99,844				2,459
Other assets			210,350			186,169			153,721			171,392			161,548				198,327			172,388				25,939
Total assets		$	6,157,425		$	6,213,041		$	5,938,502		$	6,076,822		$	6,241,182			$	6,185,079		$	6,333,318			$	(148,239)
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits		$	2,828,733		$	2,663,099		$	2,704,764		$	2,777,124		$	2,779,941			$	2,746,373		$	2,803,587			$	(57,214)
SSUARs and other short-term borrowings			117,852			202,910			247,123			220,149			294,388				160,146			297,263				(137,117)
Federal Home Loan Bank advances			256,000			245,344			21,630			20,000			20,000				250,702			21,657				229,045
Total interest-bearing liabilities			3,202,585			3,111,353			2,973,517			3,017,273			3,094,329				3,157,221			3,122,507				34,714
Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits			1,927,486			2,089,162			1,994,233			2,096,206			2,196,794				2,007,877			2,254,194				(246,317)
Other liabilities			132,687			133,321			114,196			108,964			100,118				133,002			106,320				26,682
Stockholders' equity			894,667			879,205			856,556			854,379			849,941				886,979			850,297				36,682
Total liabilities and stockholders’ equity		$	6,157,425		$	6,213,041		$	5,938,502		$	6,076,822		$	6,241,182			$	6,185,079		$	6,333,318			$	(148,239)

S-3

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (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																Six Months Ended							$ Change (8)
		Jun. 30, 2023			Mar. 31, 2023			Dec. 31, 2022			Sep. 30, 2022			Jun. 30, 2022				Jun. 30, 2023			Jun. 30, 2022				6M to 6M
Total interest income (1)		$	79,054		$	100,356		$	66,555		$	60,617		$	52,902			$	179,410		$	117,012			$	62,398
Total interest expense			14,525			7,714			3,442			2,020			1,088				22,239			2,031				20,208
Net interest income			64,529			92,642			63,113			58,597			51,814				157,171			114,981				42,190
Provision (2)			6,139			26,766			7,844			1,573			3,705				32,905			12,931				19,974
Noninterest income:
Service charges on deposit accounts			3,527			3,299			3,428			3,409			3,363				6,826			6,589				237
Net refund transfer fees			4,479			10,807			486			593			3,950				15,286			16,001				(715)
Mortgage banking income (3)			907			800			622			1,154			1,763				1,707			4,420				(2,713)
Interchange fee income			3,419			3,051			3,272			3,322			3,461				6,470			6,531				(61)
Program fees (3)			3,739			3,241			3,501			4,932			3,885				6,980			7,739				(759)
Increase in cash surrender value of BOLI			689			635			674			617			623				1,324			1,235				89
Net losses on OREO			(52)			(53)			(53)			(53)			(52)				(105)			(105)				—
Contract termination fee			—			—			—			—			—				—			5,000				(5,000)
Legal settlement			—			—			—			—			13,000				—			—				—
Other			2,943			901			1,194			1,134			576				3,844			14,168				(10,324)
Total noninterest income			19,651			22,681			13,124			15,108			30,569				42,332			61,578				(19,246)
Noninterest expense:
Salaries and employee benefits			30,764			29,961			25,763			27,269			28,896				60,725			58,208				2,517
Technology, equipment, and communication			6,920			7,228			7,276			7,235			7,229				14,148			14,443				(295)
Occupancy			3,591			3,406			3,139			3,211			3,224				6,997			6,664				333
Marketing and development			2,513			1,574			1,856			1,951			1,720				4,087			3,068				1,019
FDIC insurance expense			724			637			427			423			399				1,361			818				543
Interchange related expense			1,350			1,499			1,171			1,221			1,264				2,849			2,381				468
Legal and professional fees			829			1,061			951			904			804				1,890			2,169				(279)
Merger expense			127			2,073			—			—			—				2,200			—				2,200
Other (2)			4,715			5,004			4,322			3,952			4,120				9,719			8,486				1,233
Total noninterest expense			51,533			52,443			44,905			46,166			47,656				103,976			96,237				7,739
Income before income tax expense			26,508			36,114			23,488			25,966			31,022				62,622			67,391				(4,769)
Income tax expense			5,456			8,022			4,975			6,070			6,675				13,478			14,694				(1,216)
Net income		$	21,052		$	28,092		$	18,513		$	19,896		$	24,347			$	49,144		$	52,697			$	(3,553)

S-4

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (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																			As of and for the Six Months Ended									Change (8)
			Jun. 30, 2023			Mar. 31, 2023				Dec. 31, 2022				Sep. 30, 2022				Jun. 30, 2022				Jun. 30, 2023				Jun. 30, 2022					From Jun. 30, 2022 or 6M to 6M
Per Share Data:
Basic weighted average shares outstanding			19,884				19,935				19,929				19,919				20,107				19,909				20,131					(222)
Diluted weighted average shares outstanding			19,906				19,990				19,981				19,981				20,169				19,961				20,202					(241)
Period-end shares outstanding:
Class A Common Stock			17,447				17,598				17,587				17,587				17,629				17,447				17,629					(182)
Class B Common Stock			2,157				2,160				2,160				2,160				2,161				2,157				2,161					(4)
Book value per share (4)		$	45.24			$	44.65			$	43.38			$	42.69			$	42.64			$	45.24			$	42.64				$	2.60
Tangible book value per share (4)			42.63				41.98				42.11				41.40				41.34				42.63				41.34					1.29
Earnings per share ("EPS"):
Basic EPS - Class A Common Stock		$	1.07			$	1.42			$	0.94			$	1.01			$	1.23			$	2.50			$	2.65				$	(0.15)
Basic EPS - Class B Common Stock			0.98				1.30				0.86				0.92				1.12				2.27				2.41					(0.14)
Diluted EPS - Class A Common Stock			1.07				1.42				0.94				1.01				1.22				2.50				2.64					(0.14)
Diluted EPS - Class B Common Stock			0.98				1.29				0.85				0.92				1.11				2.27				2.40					(0.13)
Cash dividends declared per Common share:
Class A Common Stock		$	0.374			$	0.374			$	0.341			$	0.341			$	0.341			$	0.748			$	0.682				$	0.066
Class B Common Stock			0.340				0.340				0.310				0.310				0.310				0.680				0.620					0.060
Performance Ratios:
Return on average assets			1.37	%			1.81	%			1.25	%			1.28	%			1.53	%			1.59	%			1.66	%				(0.07)	%
Return on average equity			9.41				12.78				8.65				9.15				11.23				11.08				12.39					(1.31)
Efficiency ratio (5)			62				45				59				63				68				53				60					(7)
Yield on average interest-earning assets (1)			5.46				7.07				4.75				4.19				3.58				6.25				4.01					2.24
Cost of average interest-bearing liabilities			1.81				0.99				0.46				0.27				0.14				1.41				0.13					1.28
Cost of average deposits (6)			0.94				0.41				0.26				0.15				0.08				0.68				0.07					0.61
Net interest spread (1)			3.65				6.08				4.29				3.92				3.44				4.84				3.88					0.96
Net interest margin - Total Company (1)			4.46				6.52				4.51				4.05				3.51				5.48				3.94					1.54
Net interest margin - Core Bank			3.65				3.98				3.82				3.54				3.02				3.81				2.97					0.83
Other Information:
End of period FTEs (7) - Total Company			1,043				1,031				998				1,009				1,020				1,043				1,020					23
End of period FTEs - Core Bank			985				972				932				916				929				985				929					56
Number of full-service banking centers			45				44				42				42				42				45				42					3

S-5

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (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																	Change				Change
		Jun. 30, 2023			Mar. 31, 2023			Dec. 31, 2022			Sep. 30, 2022			Jun. 30, 2022					From Dec. 31,2022				From Jun. 30, 2022
Loan Composition
Traditional Banking:
Residential real estate:
Owner occupied		$	1,086,751		$	972,214		$	911,427		$	863,899		$	832,137				$	175,324			$	254,614
Nonowner occupied			350,390			328,529			321,358			321,037			313,534					29,032				36,856
Commercial real estate			1,727,092			1,682,573			1,599,510			1,571,593			1,569,119					127,582				157,973
Construction & land development			179,479			167,829			153,875			147,418			137,452					25,604				42,027
Commercial & industrial			478,759			478,101			413,387			412,826			408,832					65,372				69,927
Lease financing receivables			79,804			73,270			10,505			11,333			11,345					69,299				68,459
Aircraft			208,512			184,344			179,785			166,313			159,958					28,727				48,554
Home equity			255,755			250,050			241,739			229,038			214,069					14,016				41,686
Consumer:
Credit cards			17,134			16,775			15,473			14,897			15,419					1,661				1,715
Overdrafts			706			775			726			723			901					(20)				(195)
Automobile loans			4,177			5,267			6,731			7,890			9,579					(2,554)				(5,402)
Other consumer			6,109			5,450			626			973			1,245					5,483				4,864
Total Traditional Banking			4,394,668			4,165,177			3,855,142			3,747,940			3,673,590					539,526				721,078
Warehouse lines of credit			539,560			457,365			403,560			442,238			596,678					136,000				(57,118)
Total Core Banking			4,934,228			4,622,542			4,258,702			4,190,178			4,270,268					675,526				663,960
Republic Processing Group:
Tax Refund Solutions:
Refund Advances			—			31,665			97,505			—			—					(97,505)				—
Other TRS commercial & industrial loans			193			8,327			51,767			295			149					(51,574)				44
Republic Credit Solutions			118,721			111,700			107,828			98,977			91,816					10,893				26,905
Total Republic Processing Group			118,914			151,692			257,100			99,272			91,965					(138,186)				26,949
Total loans - Total Company		$	5,053,142		$	4,774,234		$	4,515,802		$	4,289,450		$	4,362,233				$	537,340			$	690,909
Allowance for Credit Losses on Loans ("Allowance")
Traditional Banking		$	55,567		$	55,216		$	50,709		$	49,231		$	49,727				$	4,858			$	5,840
Warehouse Lending			1,346			1,144			1,009			1,105			1,491					337				(145)
Total Core Banking			56,913			56,360			51,718			50,336			51,218					5,195				5,695
Tax Refund Solutions			—			25,981			3,888			—			—					(3,888)				—
Republic Credit Solutions			15,289			13,780			14,807			14,583			13,231					482				2,058
Total Republic Processing Group			15,289			39,761			18,695			14,583			13,231					(3,406)				2,058
Total Allowance - Total Company		$	72,202		$	96,121		$	70,413		$	64,919		$	64,449				$	1,789			$	7,753
Allowance to Total Loans
Traditional Banking			1.26	%		1.33	%		1.32	%		1.31	%		1.35	%				(0.06)	%			(0.09)	%
Warehouse Lending			0.25			0.25			0.25			0.25			0.25					—				—
Total Core Banking			1.15			1.22			1.21			1.20			1.20					(0.06)				(0.05)
Tax Refund Solutions			—			64.97			2.60			—			—					(2.60)				—
Republic Credit Solutions			12.88			12.34			13.73			14.73			14.41					(0.85)				(1.53)
Total Republic Processing Group			12.86			26.21			7.27			14.69			14.39					5.59				(1.53)
Total Company			1.43			2.01			1.56			1.51			1.48					(0.13)				(0.05)

S-6

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (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																					As of and for the Six Months Ended									Change (8)
		Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Sep. 30, 2022				Jun. 30, 2022					Jun. 30, 2023				Jun. 30, 2022					From Jun. 30, 2022 or 6M to 6M
Credit Quality Asset Balances and Net Charge-off ("NCO") Data:
Nonperforming Assets - Total Company:
Loans on nonaccrual status		$	16,957			$	15,833			$	15,562			$	16,322			$	16,168				$	16,957			$	16,168				$	789
Loans past due 90-days-or-more and still on accrual			547				777				756				37				42					547				42					505
Total nonperforming loans			17,504				16,610				16,318				16,359				16,210					17,504				16,210					1,294
OREO			1,478				1,529				1,581				1,634				1,687					1,478				1,687					(209)
Total nonperforming assets		$	18,982			$	18,139			$	17,899			$	17,993			$	17,897				$	18,982			$	17,897				$	1,085
Nonperforming Assets - Core Bank:
Loans on nonaccrual status		$	16,957			$	15,833			$	15,562			$	16,322			$	16,168				$	16,957			$	16,168				$	789
Loans past due 90-days-or-more and still on accrual			—				—				—				—				—					—				—					—
Total nonperforming loans			16,957				15,833				15,562				16,322				16,168					16,957				16,168					789
OREO			1,478				1,529				1,581				1,634				1,687					1,478				1,687					(209)
Total nonperforming assets		$	18,435			$	17,362			$	17,143			$	17,956			$	17,855				$	18,435			$	17,855				$	580
Delinquent Loans:
Delinquent loans - Core Bank		$	5,875			$	5,537			$	6,060			$	4,368			$	5,352				$	5,875			$	5,352				$	523
RPG			10,043				30,587				9,200				7,522				6,099					10,043				6,099					3,944
Total delinquent loans - Total Company		$	15,918			$	36,124			$	15,260			$	11,890			$	11,451				$	15,918			$	11,451				$	4,467
NCOs (Recoveries) by Segment:
Traditional Bank		$	125			$	77			$	238			$	(187)			$	(5)				$	202			$	113				$	89
Warehouse Lending loans			—				—				—				—				—					—				—					—
Core Bank loans			125				77				238				(187)				(5)					202				113					89
Tax Refund Solutions			25,762				(285)				(909)				(1,296)				8,730					25,477				8,368					17,109
Republic Credit Solutions			2,787				2,866				3,021				2,656				2,147					5,653				4,545					1,108
RPG			28,549				2,581				2,112				1,360				10,877					31,130				12,913					18,217
Total NCOs (recoveries) - Total Company		$	28,674			$	2,658			$	2,350			$	1,173			$	10,872				$	31,332			$	13,026				$	18,306
Credit Quality Ratios - Total Company:
Nonperforming loans to total loans			0.35	%			0.35	%			0.36	%			0.38	%			0.37	%				0.35	%			0.37	%				(0.02)	%
Nonperforming assets to total loans (including OREO)			0.38				0.38				0.40				0.42				0.41					0.38				0.41					(0.03)
Nonperforming assets to total assets			0.30				0.30				0.31				0.30				0.29					0.30				0.29					0.01
Allowance for credit losses to total loans			1.43				2.01				1.56				1.51				1.48					1.43				1.48					(0.05)
Allowance for credit losses to nonperforming loans			412				579				432				397				398					412				398					14
Delinquent loans to total loans (9)			0.32				0.76				0.34				0.28				0.26					0.32				0.26					0.06
NCOs (recoveries) to average loans (annualized)			2.34				0.23				0.22				0.11				1.00					1.31				0.60					0.71
Credit Quality Ratios - Core Bank:
Nonperforming loans to total loans			0.34	%			0.34	%			0.37	%			0.39	%			0.38	%				0.34	%			0.38	%				(0.04)	%
Nonperforming assets to total loans (including OREO)			0.37				0.38				0.40				0.43				0.42					0.37				0.42					(0.05)
Nonperforming assets to total assets			0.32				0.32				0.32				0.33				0.32					0.32				0.32					-
Allowance for credit losses to total loans			1.15				1.22				1.21				1.20				1.20					1.15				1.20					(0.05)
Allowance for credit losses to nonperforming loans			336				356				332				308				317					336				317					19
Delinquent loans to total loans			0.12				0.12				0.14				0.10				0.13					0.12				0.13					(0.01)
Annualized NCOs (recoveries) to average loans			0.01				0.01				0.02				(0.02)				—					0.01				0.01					0.00
TRS Refund Advances ("RAs")
RAs originated		$	—			$	737,047			$	97,505			$	—			$	—				$	737,047			$	311,207				$	425,840
Net (credit) charge to the Provision for RAs			(161)				21,715				2,888				(1,296)				564					21,554				8,879					12,675
RAs NCOs (recoveries)			25,636				(285)				(909)				(1,296)				8,879					25,351				8,879					16,472

S-7

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (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, 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.

As of June 30, 2023, the Company was divided into five reportable segments: Traditional Banking, Warehouse Lending (“Warehouse”), Mortgage Banking, Tax Refund Solutions (“TRS”), and Republic Credit Solutions (“RCS”). Management considers the first three segments to collectively constitute “Core Bank” or “Core Banking” operations, while the last two segments collectively constitute Republic Processing Group (“RPG”) 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 primarily via its network of banking centers and to clients outside of its market footprint primarily via its digital delivery channels.		Loans, investments, and deposits
Warehouse Lending		Provides short-term, revolving credit facilities to mortgage bankers across the United States.		Mortgage warehouse lines of credit
Mortgage Banking		Primarily originates, sells, and services long-term, single-family, first-lien residential real estate loans primarily to clients in the Bank's market footprint.		Loan sales and servicing
Republic Processing Group:
Tax Refund Solutions		TRS offers tax-related credit products and facilitates the receipt and payment of federal and state tax refunds through Refund Transfer products. The RPS division of TRS offers general-purpose reloadable cards. TRS and RPS products are primarily provided to clients outside of the Bank’s market footprint.		Loans, refund transfers, and prepaid cards.
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.		Unsecured, consumer loans

The accounting policies used for Republic’s reportable segments are the same as those described in the summary of significant accounting policies in the Company’s 2022 Annual Report on Form 10-K. Republic evaluates segment performance using operating income. The Company allocates goodwill to the Traditional Banking segment. Republic generally allocates income taxes based on income before income tax expense unless reasonable and specific segment allocations can be made. The Company makes transactions among reportable segments at carrying value.

S-8

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (continued)

Segment information for the quarters and years ended June 30, 2023 and 2022 follows:

		Three Months Ended June 30, 2023
		Core Banking															Republic Processing Group
														Total				Tax			Republic
		Traditional				Warehouse				Mortgage				Core				Refund			Credit			Total				Total
(dollars in thousands)		Banking				Lending				Banking				Banking				Solutions			Solutions			RPG				Company
Net interest income	$	48,682			$	2,642			$	61			$	51,385			$	4,010		$	9,134		$	13,144			$	64,529
Provision for expected credit loss expense		1,860				202				—				2,062				(219)			4,296			4,077				6,139
Net refund transfer fees		—				—				—				—				4,479			—			4,479				4,479
Mortgage banking income		—				—				907				907				—			—			—				907
Program fees		(1)				—				—				(1)				729			3,011			3,740				3,739
Other noninterest income		10,330				11				27				10,368				118			40			158				10,526
Total noninterest income		10,329				11				934				11,274				5,326			3,051			8,377				19,651
Total noninterest expense		42,153				1,008				2,322				45,483				3,143			2,907			6,050				51,533
Income (loss) before income tax expense		14,998				1,443				(1,327)				15,114				6,412			4,982			11,394				26,508
Income tax expense (benefit)		2,941				322				(292)				2,971				1,391			1,094			2,485				5,456
Net income (loss)	$	12,057			$	1,121			$	(1,035)			$	12,143			$	5,021		$	3,888		$	8,909			$	21,052
Period-end assets	$	5,271,050			$	540,106			$	16,147			$	5,827,303			$	415,428		$	127,048		$	542,476			$	6,369,779
Net interest margin		3.77	%			2.28	%			NM				3.65	%			NM			NM			NM				4.46	%
Net-revenue concentration*		71	%			3	%			1	%			75	%			11	%		14	%		25	%			100	%

		Three Months Ended June 30, 2022
		Core Banking															Republic Processing Group
														Total				Tax			Republic
		Traditional				Warehouse				Mortgage				Core				Refund			Credit			Total				Total
(dollars in thousands)		Banking				Lending				Banking				Banking				Solutions			Solutions			RPG				Company
Net interest income	$	39,158			$	3,886			$	153			$	43,197			$	1,638		$	6,979		$	8,617			$	51,814
Provision for expected credit loss expense		146				(234)				—				(88)				360			3,433			3,793				3,705
Net refund transfer fees		—				—				—				—				3,950			—			3,950				3,950
Mortgage banking income		—				—				1,763				1,763				—			—			—				1,763
Program fees		—				—				—				—				736			3,149			3,885				3,885
Contract termination fee		—				—				—				—				5,000			—			5,000				5,000
Legal settlement		5,000				—				—				5,000				—			—			—				5,000
Other noninterest income		2,734				12				46				2,792				8,179			—			8,179				10,971
Total noninterest income		7,734				12				1,809				9,555				17,865			3,149			21,014				30,569
Total noninterest expense		38,317				1,035				2,832				42,184				3,533			1,939			5,472				47,656
Income before income tax expense		8,429				3,097				(870)				10,656				15,610			4,756			20,366				31,022
Income tax expense		1,652				692				(191)				2,153				3,465			1,057			4,522				6,675
Net income	$	6,777			$	2,405			$	(679)			$	8,503			$	12,145		$	3,699		$	15,844			$	24,347
Period-end assets	$	4,997,734			$	596,031			$	22,342			$	5,616,107			$	382,156		$	114,213		$	496,369			$	6,112,476
Net interest margin		3.06	%			2.69	%			NM				3.02	%			NM			NM			NM				3.55	%
Net-revenue concentration*		57	%			5	%			2	%			64	%			24	%		12	%		36	%			100	%

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

S-9

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2023 (continued)

Footnotes:

(1) The amount of loan fee income can meaningfully impact total interest income, loan yields, net interest margin, and net interest spread. The following table presents the Company’s loan fees by segment:

		Three Months Ended																Six Months Ended							$ Change (8)
(dollars in thousands)		Jun. 30, 2023			Mar. 31, 2023			Dec. 31, 2022			Sep. 30, 2022			Jun. 30, 2022				Jun. 30, 2023			Jun. 30, 2022				6M to 6M
Traditional Banking		$	1,311		$	943		$	943		$	1,063		$	1,669			$	2,254		$	3,999			$	(1,745)
Warehouse Lending			294			248			272			402			500				542			1,074				(532)
Total Core Bank			1,605			1,191			1,215			1,465			2,169				2,796			5,073				(2,277)
TRS - Refund Advances			41			31,404			50			81			81				31,446			13,525				17,921
TRS - Other Loan Fees			24			933			825			(1)			2				956			664				292
RCS			8,416			7,962			7,501			7,196			6,364				16,378			16,621				(243)
Total RPG			8,481			40,299			8,376			7,276			6,447				48,780			30,810				17,970
Total loan fees - Total Company		$	10,086		$	41,490		$	9,591		$	8,741		$	8,616			$	51,576		$	35,883			$	15,693

(2) Provision for expected credit loss expense includes provisions for losses on on-balance sheet loans and investment securities. Provision expense for off-balance sheet credit exposures is a component of “Other” noninterest expense.

(3) In the ordinary course of business, the Bank originates for sale mortgage loans and consumer loans. Mortgage loans originated for sale are primarily originated and sold into the secondary market through the Bank’s Mortgage Banking segment, while consumer loans originated for sale 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 consumer loans are recorded as a component of Program Fees.

		As of and for the Three Months Ended																As of and for the Six Months Ended							$ Change (8)
(dollars in thousands)		Jun. 30, 2023			Mar. 31, 2023			Dec. 31, 2022			Sep. 30, 2022			Jun. 30, 2022				Jun. 30, 2023			Jun. 30, 2022				6M to 6M
Mortgage Loans Held for Sale
Balance, beginning of period		$	1,034		$	1,302		$	2,912		$	8,491		$	13,302			$	1,302		$	29,393			$	(28,091)
Originations			13,948			15,942			10,359			32,856			61,489				29,890			162,150				(132,260)
Proceeds from sales			(11,483)			(16,630)			(12,207)			(39,220)			(67,759)				(28,113)			(186,971)				158,858
Net gain on sale			539			420			238			785			1,459				959			3,919				(2,960)
Balance, end of period		$	4,038		$	1,034		$	1,302		$	2,912		$	8,491			$	4,038		$	8,491			$	(4,453)
RCS Consumer Loans Held for Sale
Balance, beginning of period		$	17,432		$	17,875		$	21,475		$	31,236		$	14,735			$	17,875		$	22,684			$	(4,809)
Originations			262,404			207,222			225,588			292,131			282,782				469,626			527,996				(58,370)
Proceeds from sales			(261,301)			(210,199)			(231,999)			(306,093)			(269,429)				(471,500)			(525,709)				54,209
Net gain on sale			3,009			2,534			2,811			4,201			3,148				5,543			6,265				(722)
Balance, end of period		$	21,544		$	17,432		$	17,875		$	21,475		$	31,236			$	21,544		$	31,236			$	(9,692)

S-10

(4) The following table provides a reconciliation of total stockholders’ equity in accordance with GAAP to tangible stockholders’ equity in accordance with applicable regulatory requirements, 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 as a means to evaluate capital adequacy.

		As of
(dollars in thousands, except per share data)		Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Sep. 30, 2022				Jun. 30, 2022
Total stockholders' equity - GAAP (a)		$	886,971			$	882,202			$	856,613			$	843,063			$	843,866
Less: Goodwill			40,516				41,618				16,300				16,300				16,300
Less: Mortgage servicing rights			7,995				8,406				8,769				9,177				9,407
Less: Core deposit intangible			2,713				2,813				—				—				—
Tangible stockholders' equity - Non-GAAP (c)		$	835,747			$	829,365			$	831,544			$	817,586			$	818,159
Total assets - GAAP (b)		$	6,369,779			$	6,074,091			$	5,835,543			$	5,999,663			$	6,112,476
Less: Goodwill			40,516				41,618				16,300				16,300				16,300
Less: Mortgage servicing rights			7,995				8,406				8,769				9,177				9,407
Less: Core deposit intangible			2,713				2,813				—				—				—
Tangible assets - Non-GAAP (d)		$	6,318,555			$	6,021,254			$	5,810,474			$	5,974,186			$	6,086,769
Total stockholders' equity to total assets - GAAP (a/b)			13.92	%			14.52	%			14.68	%			14.05	%			13.81	%
Tangible stockholders' equity to tangible assets - Non-GAAP (c/d)			13.23	%			13.77	%			14.31	%			13.69	%			13.44	%
Number of shares outstanding (e)			19,604				19,758				19,747				19,747				19,790
Book value per share - GAAP (a/e)		$	45.24			$	44.65			$	43.38			$	42.69			$	42.64
Tangible book value per share - Non-GAAP (c/e)			42.63				41.98				42.11				41.40				41.34

(5) The efficiency ratio, a non-GAAP measure with no GAAP comparable, equals total noninterest expense divided by the sum of net interest income and noninterest income. The ratio excludes material nonrecurring revenues and expenses related to the CBank merger, the now-cancelled TRS Transaction, the BOLI benefit payment received, as well as net gains (losses) on sales, calls, and impairment of investment securities.

		Three Months Ended																					Six Months Ended June 30, 2023
(dollars in thousands)		Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Sep. 30, 2022				Jun. 30, 2022					Jun. 30, 2023				Jun. 30, 2022
Net interest income - GAAP		$	64,529			$	92,642			$	63,113			$	58,597			$	51,814				$	157,171			$	114,981
Noninterest income - GAAP			19,651				22,681				13,124				15,108				30,569					42,332				61,578
Less: Contract termination fee related to TRS Transaction			—				—				—				—				—					—				5,000
Less: Legal settlement related to TRS Transaction			—				—				—				—				13,000					—				13,000
Less: BOLI benefit payment received			1,728				—				—				—				—					1,728				—
Less: Net gain (loss) on securities			3				1				1				2				(102)					4				(222)
Total adjusted income - Non-GAAP (a)		$	82,449			$	115,322			$	76,236			$	73,703			$	69,485				$	197,771			$	158,781
Noninterest expense - GAAP		$	51,533			$	52,443			$	44,905			$	46,166			$	47,656				$	103,976			$	96,237
Less: Expenses related to CBank acquisition			127				2,073
Less: Expenses related to TRS Transaction			—				—				—				88				699					—				699
Adjusted noninterest expense - Non-GAAP (b)		$	51,406			$	50,370			$	44,905			$	46,078			$	46,957				$	103,976			$	95,538
Efficiency Ratio - Non-GAAP (b/a)			62	%			44	%			59	%			63	%			68	%				53	%			60	%

(6) 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.

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

(8) Quarter (“Q”) to Quarter changes compare the most recent quarter or quarter end to the same quarter or quarter end of a year prior. Year-to-date changes compare the most recent period or period end to the same period or period end of a year prior. Year-to-date changes are expressed as either 3M to 3M  (three months), 6M to 6M (six months), 9M to 9M (nine months), or 12M to 12M (twelve months).

(9) 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 the number of days or the number of payments past due. Delinquent loans as of June 30, 2023, included $0 of Refund Advances (“RA”), which do not have a contractual due date, but the Company considered an RA delinquent in 2023 if it remained unpaid 35 days after the taxpayer’s tax return was submitted to the applicable taxing authority.

S-11

NM – Not meaningful

NA – Not applicable

YTD – Year to date

CONTACT:

Republic Bancorp, Inc.

Kevin Sipes

Executive Vice President & Chief Financial Officer

(502) 560-8628

S-12