Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

FOURTH QUARTER 2023

TABLE OF CONTENTS

BALANCE SHEET DATA	S-2
AVERAGE BALANCE SHEET DATA	S-3
TOTAL COMPANY AVERAGE BALANCE SHEETS AND INTEREST RATES	S-4
INCOME STATEMENT DATA	S-5
SELECTED DATA AND RATIOS	S-6
LOAN COMPOSITION	S-7
ALLOWANCE FOR CREDIT LOSSES ON LOANS	S-7
CREDIT QUALITY DATA AND RATIOS	S-8
SEGMENT DATA	S-9
FOOTNOTES	S-12

S-1

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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
		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				From Dec. 31, 2022
Assets:
Cash and cash equivalents		$	316,567			$	219,653			$	241,967			$	249,289			$	313,689			$	2,878
Investment securities, net of allowance for credit losses			667,874				703,007				706,238				725,163				707,862				(39,988	)
Loans held for sale			27,235				24,683				25,582				18,466				19,177				8,058
Loans			5,239,861				5,081,099				5,053,142				4,774,234				4,515,802				724,059
Allowance for credit losses			(82,130	)			(74,576	)			(72,202	)			(96,121	)			(70,413	)			(11,717	)
Loans, net			5,157,731				5,006,523				4,980,940				4,678,113				4,445,389				712,342
Federal Home Loan Bank stock, at cost			23,770				31,420				29,395				25,939				9,146				14,624
Premises and equipment, net			33,411				33,926				33,840				33,672				31,978				1,433
Right-of-use assets			34,691				35,907				34,939				36,245				37,017				(2,326	)
Goodwill			40,516				40,516				40,516				41,618				16,300				24,216
Other real estate owned ("OREO")			1,371				1,423				1,478				1,529				1,581				(210	)
Bank owned life insurance ("BOLI")			103,916				103,211				102,521				102,322				101,687				2,229
Low-income housing tax credit investments			75,055				76,047				77,426				73,901				75,324				(269	)
Other assets and accrued interest receivable			112,754				110,159				94,937				87,834				76,393				36,361
Total assets		$	6,594,891			$	6,386,475			$	6,369,779			$	6,074,091			$	5,835,543			$	759,348
Liabilities and Stockholders' Equity:
Deposits:
Noninterest-bearing		$	1,676,998			$	1,702,979			$	1,854,907			$	2,013,957			$	1,908,768			$	(231,770	)
Interest-bearing			3,376,165				3,090,603				2,874,374				2,785,711				2,629,077				747,088
Total deposits			5,053,163				4,793,582				4,729,281				4,799,668				4,537,845				515,318
Securities sold under agreements to
repurchase ("SSUAR") and other short-term borrowings			97,618				80,797				92,093				134,412				216,956				(119,338	)
Operating lease liabilities			35,539				36,726				35,721				37,031				37,809				(2,270	)
Federal Home Loan Bank advances			380,000				465,000				520,000				108,000				95,000				285,000
Low-income housing tax credit obligations			58,619				58,858				55,998				42,437				43,609				15,010
Other liabilities and accrued interest payable			57,196				58,112				49,715				70,341				47,711				9,485
Total liabilities			5,682,135				5,493,075				5,482,808				5,191,889				4,978,930				703,205
Stockholders' equity			912,756				893,400				886,971				882,202				856,613				56,143
Total liabilities and stockholders' equity		$	6,594,891			$	6,386,475			$	6,369,779			$	6,074,091			$	5,835,543			$	759,348

S-2

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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																				$ Change (8)				Years Ended								$ Change (8)
		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Q4 to Q4				Dec. 31, 2023				Dec. 31, 2022				12M to 12M
Assets:
Interest-earning assets:
Federal funds sold and other interest-earning deposits		$	201,206			$	177,003			$	114,368			$	241,211			$	553,695			$	(352,489	)		$	183,647			$	738,399			$	(554,752	)
Investment securities, including FHLB stock			769,016				771,453				774,829				773,172				693,825				75,191				772,104				671,858				100,246
Loans, including loans held for sale			5,111,263				5,006,081				4,904,167				4,665,543				4,353,256				758,007				4,923,215				4,338,433				584,782
Total interest-earning assets			6,081,485				5,954,537				5,793,364				5,679,926				5,600,776				480,709				5,878,966				5,748,690				130,276
Allowance for credit losses			(75,747	)			(73,438	)			(96,720	)			(83,195	)			(65,290	)			(10,457	)			(82,230	)			(67,951	)			(14,279	)
Noninterest-earning assets:
Noninterest-earning cash and cash equivalents			101,119				96,303				113,865				295,905				115,416				(14,297	)			150,785				186,636				(35,851	)
Premises and equipment, net			33,940				34,013				33,967				32,232				32,518				1,422				33,544				33,892				(348	)
Bank owned life insurance			103,557				102,825				102,599				102,004				101,361				2,196				102,750				100,452				2,298
Other assets			231,207				220,595				210,350				186,169				153,721				77,486				212,228				167,251				44,977
Total assets		$	6,475,561			$	6,334,835			$	6,157,425			$	6,213,041			$	5,938,502			$	537,059			$	6,296,043			$	6,168,970			$	127,073
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits		$	3,210,495			$	2,976,852			$	2,828,733			$	2,663,099			$	2,704,764			$	505,731			$	2,924,691			$	2,772,009			$	152,682
SSUARs and other short-term borrowings			141,861				90,063				117,852				202,910				247,123				(105,262	)			134,632				265,188				(130,556	)
Federal Home Loan Bank advances			357,321				441,543				256,000				245,344				21,630				335,691				325,678				21,233				304,445
Total interest-bearing liabilities			3,709,677				3,508,458				3,202,585				3,111,353				2,973,517				736,160				3,385,001				3,058,430				326,571
Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits			1,715,408				1,794,874				1,927,486				2,089,162				1,994,233				(278,825	)			1,880,471				2,148,848				(268,377	)
Other liabilities			144,194				133,237				132,687				133,321				114,196				29,998				135,882				108,965				26,917
Stockholders' equity			906,282				898,266				894,667				879,205				856,556				49,726				894,689				852,727				41,962
Total liabilities and stockholders’ equity		$	6,475,561			$	6,334,835			$	6,157,425			$	6,213,041			$	5,938,502			$	537,059			$	6,296,043			$	6,168,970			$	127,073

S-3

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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)

Total Company Average Balance Sheet and Interest Rates

		Three Months Ended December 31, 2023												Three Months Ended December 31, 2022
		Average								Average				Average								Average				$ Change (8)
(dollars in thousands)		Balance				Interest				Rate				Balance				Interest				Rate				Q4 to Q4
ASSETS
Interest-earning assets:
Federal funds sold and other interest-earning deposits		$	201,206			$	2,765				5.45	%		$	553,695			$	5,128				3.70	%		$	(352,489	)
Investment securities, including FHLB stock (a)			769,016				5,856				3.02				693,825				3,587				2.07				75,191
TRS Refund Advance loans (b)			19,134				1,095				22.70				16,629				875				21.05				2,505
RCS LOC products (b)			40,539				10,514				102.90				31,549				7,501				95.10				8,990
Other RPG loans (c) (f)			120,849				2,116				6.95				96,805				1,352				5.59				24,044
Outstanding Warehouse lines of credit (d) (f)			370,169				7,301				7.83				406,903				5,907				5.81				(36,734	)
All other Core Bank loans (e) (f)			4,560,572				61,138				5.32				3,801,370				42,205				4.44				759,202
Total interest-earning assets			6,081,485				90,785				5.92				5,600,776				66,555				4.75				480,709
Allowance for credit losses			(75,747	)											(65,290	)											(10,457	)
Noninterest-earning assets:
Noninterest-earning cash and cash equivalents			101,119												115,416												(14,297	)
Premises and equipment, net			33,940												32,518												1,422
Bank owned life insurance			103,557												101,361												2,196
Other assets (a)			231,207												153,721												77,486
Total assets		$	6,475,561											$	5,938,502											$	537,059
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction accounts		$	1,412,405			$	3,576				1.00	%		$	1,693,259			$	1,212				0.29	%		$	(280,854	)
Money market accounts			1,003,713				7,914				3.13				743,352				1,137				0.61				260,361
Time deposits			350,535				3,215				3.64				229,687				720				1.25				120,848
Reciprocal money market and time deposits			300,468				3,063				4.04				38,466				34				0.35				262,002
Brokered deposits			143,374				1,955				5.41				—				—				—				143,374
Total interest-bearing deposits			3,210,495				19,723				2.44				2,704,764				3,103				0.46				505,731
SSUARs and other short-term borrowings			141,861				123				0.34				247,123				226				0.37				(105,262	)
Federal Home Loan Bank advances and other long-term borrowings			357,321				4,157				4.62				21,630				113				2.09				335,691
Total interest-bearing liabilities			3,709,677				24,003				2.57				2,973,517				3,442				0.46				736,160
Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits			1,715,408												1,994,233												(278,825	)
Other liabilities			144,194												114,196												29,998
Stockholders’ equity			906,282												856,556												49,726
Total liabilities and stockholders’ equity		$	6,475,561											$	5,938,502											$	537,059
Net interest income						$	66,782											$	63,113								3,669
Net interest spread											3.35	%											4.29	%			(0.94	)%
Net interest margin											4.36	%											4.51	%			(0.15	)%

(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 for Refund Advances and RCS line-of-credit products is composed entirely of loan fees.

(c) Interest income includes loan fees of $0 for both the three months ended December 31, 2023 and 2022.

(d) Interest income includes loan fees of $235,000 and $272,000 for the three months ended December 31, 2023 and 2022.

(e) Interest income includes loan fees of $1.5 million and $943,000 for the three months ended December 31, 2023 and 2022.

(f) Average balances for loans include the principal balance of nonaccrual loans and loans held for sale, and are inclusive of all loan premiums, discounts, fees and costs.

S-4

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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																				$ Change (8)				Years Ended								$ Change (8)
		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Q4 to Q4				Dec. 31, 2023				Dec. 31, 2022				12M to 12M
Total interest income (1)		$	90,785			$	85,868			$	79,054			$	100,356			$	66,555			$	24,230			$	356,063			$	244,184			$	111,879
Total interest expense			24,003				21,043				14,525				7,714				3,442				20,561				67,285				7,493				59,792
Net interest income			66,782				64,825				64,529				92,642				63,113				3,669				288,778				236,691				52,087
Provision (2)			10,989				3,730				6,139				26,766				7,844				3,145				47,624				22,348				25,276
Noninterest income:
Service charges on deposit accounts			3,470				3,559				3,527				3,299				3,428				42				13,855				13,426				429
Net refund transfer fees			220				242				4,479				10,807				486				(266	)			15,748				17,080				(1,332	)
Mortgage banking income (3)			983				852				907				800				622				361				3,542				6,196				(2,654	)
Interchange fee income			3,305				3,282				3,419				3,051				3,272				33				13,057				13,125				(68	)
Program fees (3)			4,561				4,041				3,739				3,241				3,501				1,060				15,582				16,172				(590	)
Increase in cash surrender value of BOLI			705				690				689				635				674				31				2,719				2,526				193
Net losses on OREO			(53	)			(53	)			(52	)			(53	)			(53	)			—				(211	)			(211	)			—
Contract termination fee			—				—				—				—				—				—				—				5,000				(5,000	)
Legal settlement			—				—				—				—				—				—				—				13,000				(13,000	)
Other*			1,589				1,732				2,943				901				1,194				395				7,165				3,496				3,669
Total noninterest income*			14,780				14,345				19,651				22,681				13,124				1,656				71,457				89,810				(18,353	)
Noninterest expense:
Salaries and employee benefits			26,397				28,747				30,764				29,961				25,763				634				115,869				111,240				4,629
Technology, equipment, and communication			7,648				7,311				6,920				7,228				7,276				372				29,107				28,954				153
Occupancy			3,467				3,503				3,591				3,406				3,139				328				13,967				13,014				953
Marketing and development			2,304				2,055				2,513				1,574				1,856				448				8,446				6,875				1,571
FDIC insurance expense			690				677				724				637				427				263				2,728				1,668				1,060
Interchange related expense			1,536				1,580				1,350				1,499				1,171				365				5,965				4,773				1,192
Legal and professional fees			511				803				829				1,061				951				(440	)			3,204				4,024				(820	)
Merger expense			92				(132	)			127				2,073				—				92				2,160				—				2,160
Other (2)*			4,409				3,824				4,715				5,004				4,322				87				17,952				16,760				1,192
Total noninterest expense*			47,054				48,368				51,533				52,443				44,905				2,149				199,398				187,308				12,090
Income before income tax expense			23,519				27,072				26,508				36,114				23,488				31				113,213				116,845				(3,632	)
Income tax expense			3,860				5,501				5,456				8,022				4,975				(1,115	)			22,839				25,739				(2,900	)
Net income		$	19,659			$	21,571			$	21,052			$	28,092			$	18,513			$	1,146			$	90,374			$	91,106			$	(732	)

(*)   For the three months ended September 30, 2023 management has reclassified certain items between noninterest income and noninterest expense.

S-5

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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																				Change (8)				As of and for the Years Ended								Change (8)
		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				From Dec. 31, 2022 or Q4 to Q4				Dec. 31, 2023				Dec. 31, 2022				From Dec. 31, 2022 or 12M to 12M
Per Share Data:
Basic weighted average shares outstanding			19,586				19,706				19,884				19,935				19,929				(343	)			19,792				20,037				(245	)
Diluted weighted average shares outstanding			19,673				19,774				19,906				19,990				19,981				(308	)			19,853				20,101				(248	)
Period-end shares outstanding:
Class A Common Stock			17,203				17,296				17,449				17,598				17,587				(384	)			17,203				17,587				(384	)
Class B Common Stock			2,155				2,157				2,157				2,160				2,160				(5	)			2,155				2,160				(5	)
Book value per share (4)		$	47.15			$	45.93			$	45.24			$	44.65			$	43.38			$	3.77			$	47.15			$	43.38			$	3.77
Tangible book value per share (4)			44.55				43.31				42.63				41.98				42.11				2.44				44.55				42.11				2.44
Earnings per share ("EPS"):
Basic EPS - Class A Common Stock		$	1.01			$	1.11			$	1.07			$	1.42			$	0.94			$	0.07			$	4.64			$	4.60			$	0.04
Basic EPS - Class B Common Stock			0.93				1.01				0.98				1.30				0.86				0.07				4.21				4.19				0.02
Diluted EPS - Class A Common Stock			1.01				1.10				1.07				1.42				0.94				0.07				4.62				4.59				0.03
Diluted EPS - Class B Common Stock			0.92				1.01				0.98				1.29				0.85				0.07				4.20				4.17				0.03
Cash dividends declared per Common share:
Class A Common Stock		$	0.374			$	0.374			$	0.374			$	0.374			$	0.341			$	0.033			$	1.496			$	1.364			$	0.132
Class B Common Stock			0.340				0.340				0.340				0.340				0.310				0.030				1.360				1.240				0.120
Performance Ratios:
Return on average assets			1.21	%			1.36	%			1.37	%			1.81	%			1.25	%			(0.04	)%			1.44	%			1.48	%			(0.04	)%
Return on average equity			8.68				9.61				9.41				12.78				8.65				0.03				10.10				10.68				(0.58	)
Efficiency ratio (5)			58				61				62				45				59				(1	)			55				60				(5	)
Yield on average interest-earning assets (1)			5.92				5.77				5.46				7.07				4.75				1.17				6.06				4.25				1.81
Cost of average interest-bearing liabilities			2.57				2.40				1.81				0.99				0.46				2.11				1.99				0.24				1.75
Cost of average deposits (6)			1.60				1.30				0.94				0.41				0.26				1.34				1.07				0.14				0.93
Net interest spread (1)			3.35				3.37				3.65				6.08				4.29				(0.94	)			4.07				4.01				0.06
Net interest margin - Total Company (1)			4.36				4.35				4.46				6.52				4.51				(0.15	)			4.91				4.12				0.79
Net interest margin - Core Bank			3.40				3.43				3.65				3.98				3.82				(0.42	)			3.61				3.32				0.29
Other Information:
End of period FTEs (7) - Total Company			1,019				1,033				1,043				1,031				998				21				1,019				998				21
End of period FTEs - Core Bank			962				976				985				972				932				30				962				932				30
Number of full-service banking centers			47				46				45				44				42				5				47				42				5

S-6

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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
		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				From Dec. 31, 2022
Loan Composition
Traditional Banking:
Residential real estate:
Owner occupied		$	1,144,684			$	1,128,745			$	1,086,751			$	972,214			$	911,427			$	233,257
Nonowner occupied			345,965				344,682				350,390				328,529				321,358				24,607
Commercial real estate			1,785,289				1,745,187				1,727,092				1,682,573				1,599,510				185,779
Construction & land development			217,338				189,756				179,479				167,829				153,875				63,463
Commercial & industrial			464,078				473,790				478,759				478,101				413,387				50,691
Lease financing receivables			88,591				85,242				79,804				73,270				10,505				78,086
Aircraft			250,051				226,947				208,512				184,344				179,785				70,266
Home equity			295,133				275,750				255,755				250,050				241,739				53,394
Consumer:
Credit cards			16,654				16,950				17,134				16,775				15,473				1,181
Overdrafts			694				640				706				775				726				(32	)
Automobile loans			2,664				3,380				4,177				5,267				6,731				(4,067	)
Other consumer			7,428				5,674				6,109				5,450				626				6,802
Total Traditional Banking			4,618,569				4,496,743				4,394,668				4,165,177				3,855,142				763,427
Warehouse lines of credit			339,723				457,033				539,560				457,365				403,560				(63,837	)
Total Core Banking			4,958,292				4,953,776				4,934,228				4,622,542				4,258,702				699,590
Republic Processing Group:
Tax Refund Solutions:
Refund Advances			103,115				—				—				31,665				97,505				5,610
Other TRS commercial & industrial loans			46,092				354				193				8,327				51,767				(5,675	)
Republic Credit Solutions			132,362				126,969				118,721				111,700				107,828				24,534
Total Republic Processing Group			281,569				127,323				118,914				151,692				257,100				24,469
Total loans - Total Company		$	5,239,861			$	5,081,099			$	5,053,142			$	4,774,234			$	4,515,802			$	724,059
Allowance for Credit Losses on Loans ("Allowance")
Traditional Banking		$	58,998			$	56,931			$	55,567			$	55,216			$	50,709			$	8,289
Warehouse Lending			847				1,143				1,346				1,144				1,009				(162	)
Total Core Banking			59,845				58,074				56,913				56,360				51,718				8,127
Tax Refund Solutions			3,990				1				—				25,981				3,888				102
Republic Credit Solutions			18,295				16,501				15,289				13,780				14,807				3,488
Total Republic Processing Group			22,285				16,502				15,289				39,761				18,695				3,590
Total Allowance - Total Company		$	82,130			$	74,576			$	72,202			$	96,121			$	70,413			$	11,717
Allowance to Total Loans
Traditional Banking			1.28	%			1.27	%			1.26	%			1.33	%			1.32	%			(0.04	)%
Warehouse Lending			0.25				0.25				0.25				0.25				0.25				—
Total Core Banking			1.21				1.17				1.15				1.22				1.21				—
Tax Refund Solutions			2.67				0.28				—				64.97				2.60				0.07
Republic Credit Solutions			13.82				13.00				12.88				12.34				13.73				0.09
Total Republic Processing Group			7.91				12.96				12.86				26.21				7.27				0.64
Total Company			1.57				1.47				1.43				2.01				1.56				0.01

S-7

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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																				Change (8)				As of and for the Years Ended								Change (8)
		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				From Dec. 31, 2022 or Q4 to Q4				Dec. 31, 2023				Dec. 31, 2022				From Dec. 31, 2022 or 12M to 12M
Credit Quality Asset Balances and Net Charge-off ("NCO") Data:
Nonperforming Assets - Total Company:
Loans on nonaccrual status		$	19,150			$	18,127			$	16,957			$	15,833			$	15,562			$	3,588			$	19,150			$	15,562			$	3,588
Loans past due 90-days-or-more and still on accrual			1,468				1,037				547				777				756				712				1,468				756				712
Total nonperforming loans			20,618				19,164				17,504				16,610				16,318				4,300				20,618				16,318				4,300
OREO			1,371				1,423				1,478				1,529				1,581				(210	)			1,371				1,581				(210	)
Total nonperforming assets		$	21,989			$	20,587			$	18,982			$	18,139			$	17,899			$	4,090			$	21,989			$	17,899			$	4,090
Nonperforming Assets - Core Bank:
Loans on nonaccrual status		$	19,150			$	18,127			$	16,957			$	15,833			$	15,562			$	3,588			$	19,150			$	15,562			$	3,588
Loans past due 90-days-or-more and still on accrual			—				—				—				—				—				—				—				—				—
Total nonperforming loans			19,150				18,127				16,957				15,833				15,562				3,588				19,150				15,562				3,588
OREO			1,371				1,423				1,478				1,529				1,581				(210	)			1,371				1,581				(210	)
Total nonperforming assets		$	20,521			$	19,550			$	18,435			$	17,362			$	17,143			$	3,378			$	20,521			$	17,143			$	3,378
Delinquent Loans:
Delinquent loans - Core Bank		$	8,176			$	6,806			$	5,875			$	5,537			$	6,060			$	2,116			$	8,176			$	6,060			$	2,116
RPG			13,916				12,328				10,043				30,587				9,200				4,716				13,916				9,200				4,716
Total delinquent loans - Total Company		$	22,092			$	19,134			$	15,918			$	36,124			$	15,260			$	6,832			$	22,092			$	15,260			$	6,832
NCOs (Recoveries) by Segment:
Traditional Bank		$	220			$	203			$	125			$	77			$	238			$	(18	)		$	625			$	164			$	461
Warehouse Lending loans			—				—				—				—				—				—				—				—				—
Core Bank loans			220				203				125				77				238				(18	)			625				164				461
Tax Refund Solutions			(1,052	)			(1,968	)			25,762				(285	)			(909	)			(143	)			22,457				6,163				16,294
Republic Credit Solutions			4,267				3,121				2,787				2,866				3,021				1,246				13,041				10,222				2,819
RPG			3,215				1,153				28,549				2,581				2,112				1,103				35,498				16,385				19,113
Total NCOs (recoveries) - Total Company		$	3,435			$	1,356			$	28,674			$	2,658			$	2,350			$	1,085			$	36,123			$	16,549			$	19,574
Credit Quality Ratios - Total Company:
Nonperforming loans to total loans			0.39	%			0.38	%			0.35	%			0.35	%			0.36	%			0.03	%			0.39	%			0.36	%			0.03	%
Nonperforming assets to total loans (including OREO)			0.42				0.41				0.38				0.38				0.40				0.02				0.42				0.40				0.02
Nonperforming assets to total assets			0.33				0.32				0.30				0.30				0.31				0.02				0.33				0.31				0.02
Allowance for credit losses to total loans			1.57				1.47				1.43				2.01				1.56				0.01				1.57				1.56				0.01
Allowance for credit losses to nonperforming loans			398				389				412				579				432				(34	)			398				432				(34	)
Delinquent loans to total loans (9)			0.42				0.38				0.32				0.76				0.34				0.08				0.42				0.34				0.08
NCOs (recoveries) to average loans (annualized)			0.27				0.11				2.34				0.23				0.22				0.05				0.73				0.38				0.35
Credit Quality Ratios - Core Bank:
Nonperforming loans to total loans			0.39	%			0.37	%			0.34	%			0.34	%			0.37	%			0.02	%			0.39	%			0.37	%			0.02	%
Nonperforming assets to total loans (including OREO)			0.41				0.39				0.37				0.38				0.40				0.01				0.41				0.40				0.01
Nonperforming assets to total assets			0.35				0.33				0.32				0.32				0.32				0.03				0.35				0.32				0.03
Allowance for credit losses to total loans			1.21				1.17				1.15				1.22				1.21				—				1.21				1.21				—
Allowance for credit losses to nonperforming loans			313				320				336				356				332				(19	)			313				332				(19	)
Delinquent loans to total loans			0.16				0.14				0.12				0.12				0.14				0.02				0.16				0.14				0.02
Annualized NCOs (recoveries) to average loans			0.02				0.02				0.01				0.01				0.02				—				0.01				0.00				0.01
TRS Refund Advances ("RAs")
RAs originated		$	103,115			$	—			$	—			$	737,047			$	97,505			$	5,610			$	840,162			$	408,712			$	431,450
Net (credit) charge to the Provision for RAs			2,877				(1,939	)			(161	)			21,715				2,888				(11	)			22,492				10,471				12,021
RAs NCOs (recoveries)			(1,052	)			(1,939	)			25,636				(285	)			(909	)		$	(143	)			22,360				6,674				15,686

S-8

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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 December 31, 2023, the Company was divided into six reportable segments: Traditional Banking, Warehouse Lending (“Warehouse”), Mortgage Banking, Tax Refund Solutions (“TRS”), Republic Payment Solutions (“RPS”), and Republic Credit Solutions (“RCS”). Management considers the first three segments to collectively constitute “Core Bank” or “Core Banking” operations, while the last three 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. TRS products are primarily provided to clients outside of the Bank’s market footprint.		Loans and refund transfers
Republic Payment Solutions		RPS offers general-purpose reloadable cards. RPS products are primarily provided to clients outside of the Bank’s market footprint.		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-9

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth Quarter 2023 (continued)

Segment information for the quarters and years ended December 31, 2023 and 2022 follows:

		Three Months Ended December 31, 2023
		Core Banking																Republic Processing Group
														Total				Tax				Republic				Republic
		Traditional				Warehouse				Mortgage				Core				Refund				Payment				Credit				Total				Total
(dollars in thousands)		Banking				Lending				Banking				Banking				Solutions				Solutions				Solutions				RPG				Company
Net interest income		$	48,318			$	2,251			$	76			$	50,645			$	779			$	4,207			$	11,151			$	16,137			$	66,782
Provision for expected credit loss expense			2,287				(296	)			—				1,991				2,937				—				6,061				8,998				10,989
Net refund transfer fees			—				—				—				—				220				—				—				220				220
Mortgage banking income			—				—				983				983				—				—				—				—				983
Program fees			—				—				—				—				—				687				3,874				4,561				4,561
Other noninterest income			8,827				11				15				8,853				27				146				(10	)			163				9,016
Total noninterest income			8,827				11				998				9,836				247				833				3,864				4,944				14,780
Total noninterest expense			37,389				931				1,350				39,670				2,851				987				3,546				7,384				47,054
Income (loss) before income tax expense			17,469				1,627				(276	)			18,820				(4,762	)			4,053				5,408				4,699				23,519
Income tax expense (benefit)			2,708				364				(61	)			3,011				(1,205	)			880				1,174				849				3,860
Net income (loss)		$	14,761			$	1,263			$	(215	)		$	15,809			$	(3,557	)		$	3,173			$	4,234			$	3,850			$	19,659
Period-end assets		$	5,504,886			$	340,224			$	14,746			$	5,859,856			$	228,738			$	366,117			$	140,180			$	735,035			$	6,594,891
Net interest margin			3.47	%			2.41	%			4.24	%			3.40	%		NM					5.08	%		NM				NM					4.36	%
Net-revenue concentration*			71	%			3	%			1	%			75	%			1	%			6	%			18	%			25	%			100	%

		Three Months Ended December 31, 2022
		Core Banking																Republic Processing Group
														Total				Tax				Republic				Republic
		Traditional				Warehouse				Mortgage				Core				Refund				Payment				Credit				Total				Total
(dollars in thousands)		Banking				Lending				Banking				Banking				Solutions				Solutions				Solutions				RPG				Company
Net interest income		$	49,675			$	2,317			$	50			$	52,042			$	652			$	2,312			$	8,107			$	11,071			$	63,113
Provision for expected credit loss expense			1,716				(96	)			—				1,620				2,979				—				3,245				6,224				7,844
Net refund transfer fees			—				—				—				—				486				—				—				486				486
Mortgage banking income			—				—				622				622				—				—				—				—				622
Program fees			—				—				—				—				—				685				2,816				3,501				3,501
Other noninterest income			8,351				12				23				8,386				29				100				—				129				8,515
Total noninterest income			8,351				12				645				9,008				515				785				2,816				4,116				13,124
Total noninterest expense			35,299				766				2,385				38,450				2,904				887				2,664				6,455				44,905
Income before income tax expense			21,011				1,659				(1,690	)			20,980				(4,716	)			2,210				5,014				2,508				23,488
Income tax expense			4,685				371				(371	)			4,685				(1,191	)			465				1,016				290				4,975
Net income		$	16,326			$	1,288			$	(1,319	)		$	16,295			$	(3,525	)		$	1,745			$	3,998			$	2,218			$	18,513
Period-end assets		$	4,894,773			$	405,052			$	13,938			$	5,313,763			$	46,192			$	363,067			$	112,521			$	521,780			$	5,835,543
Net interest margin			3.94	%			2.28	%			3.44	%			3.82	%		NM					2.82	%		NM				NM					4.51	%
Net-revenue concentration*			76	%			3	%			1	%			80	%			2	%			4	%			14	%			20	%			100	%

S-10

		Year Ended December 31, 2023
		Core Banking																Republic Processing Group
														Total				Tax				Republic				Republic
		Traditional				Warehouse				Mortgage				Core				Refund				Payment				Credit				Total				Total
(dollars in thousands)		Banking				Lending				Banking				Banking				Solutions				Solutions				Solutions				RPG				Company
Net interest income		$	194,516			$	9,447			$	282			$	204,245			$	29,557			$	15,729			$	39,247			$	84,533			$	288,778
Provision for expected credit loss expense			8,698				(162	)			—				8,536				22,559				—				16,529				39,088				47,624
Net refund transfer fees			—				—				—				—				15,748				—				—				15,748				15,748
Mortgage banking income			—				—				3,542				3,542				—				—				—				—				3,542
Program fees			—				—				—				—				—				2,827				12,755				15,582				15,582
Other noninterest income			35,885				44				74				36,003				341				158				83				582				36,585
Total noninterest income			35,885				44				3,616				39,545				16,089				2,985				12,838				31,912				71,457
Total noninterest expense			160,101				3,547				8,019				171,667				12,035				3,710				11,986				27,731				199,398
Income (loss) before income tax expense			61,602				6,106				(4,121	)			63,587				11,052				15,004				23,570				49,626				113,213
Income tax expense (benefit)			11,673				1,365				(907	)			12,131				2,196				3,307				5,205				10,708				22,839
Net income (loss)		$	49,929			$	4,741			$	(3,214	)		$	51,456			$	8,856			$	11,697			$	18,365			$	38,918			$	90,374
Period-end assets		$	5,504,886			$	340,224			$	14,746			$	5,859,856			$	228,738			$	366,117			$	140,180			$	735,035			$	6,594,891
Net interest margin			3.69	%			2.38	%			4.19	%			3.61	%		NM					4.59	%		NM				NM					4.91	%
Net-revenue concentration*			64	%			3	%			1	%			68	%			13	%			5	%			14	%			32	%			100	%

		Year Ended December 31, 2022
		Core Banking																Republic Processing Group
														Total				Tax				Republic				Republic
		Traditional				Warehouse				Mortgage				Core				Refund				Payment				Credit				Total				Total
(dollars in thousands)		Banking				Lending				Banking				Banking				Solutions				Solutions				Solutions				RPG				Company
Net interest income		$	171,543			$	13,729			$	519			$	185,791			$	16,896			$	4,819			$	29,185			$	50,900			$	236,691
Provision for expected credit loss expense			1,429				(1,117	)			—				312				9,955				—				12,081				22,036				22,348
Net refund transfer fees			—				—				—				—				17,080				—				—				17,080				17,080
Mortgage banking income			—				—				6,196				6,196				—				—				—				—				6,196
Program fees			—				—				—				—				—				2,872				13,300				16,172				16,172
Contract termination fee			—				—				—				—				5,000				—				—				5,000				5,000
Legal settlement			—				—				—				—				13,000				—				—				13,000				13,000
Other noninterest income			31,648				50				136				31,834				424				104				—				528				32,362
Total noninterest income			31,648				50				6,332				38,030				35,504				2,976				13,300				51,780				89,810
Total noninterest expense			149,681				3,604				9,912				163,197				12,377				3,340				8,394				24,111				187,308
Income before income tax expense			52,081				11,292				(3,061	)			60,312				30,068				4,455				22,010				56,533				116,845
Income tax expense			11,104				2,539				(673	)			12,970				6,905				942				4,922				12,769				25,739
Net income		$	40,977			$	8,753			$	(2,388	)		$	47,342			$	23,163			$	3,513			$	17,088			$	43,764			$	91,106
Period-end assets		$	4,894,773			$	405,052			$	13,938			$	5,313,763			$	46,192			$	363,067			$	112,521			$	521,780			$	5,835,543
Net interest margin			3.38	%			2.69	%			4.01	%			3.32	%		NM					1.37	%		NM				NM					4.12	%
Net-revenue concentration*			63	%			4	%			2	%			69	%			16	%			2	%			13	%			31	%			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-11

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Fourth 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																				$ Change (8)				Years Ended								$ Change (8)
(dollars in thousands)		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Q4 to Q4				Dec. 31, 2023				Dec. 31, 2022				12M to 12M
Traditional Banking		$	1,400			$	1,703			$	1,311			$	943			$	943			$	457			$	5,357			$	6,005			$	(648	)
Warehouse Lending			235				254				294				248				272				(37	)			1,031				1,748				(717	)
Total Core Bank			1,635				1,957				1,605				1,191				1,215				420				6,388				7,753				(1,365	)
TRS - Refund Advances			7				25				41				31,404				50				(43	)			31,477				13,656				17,821
TRS - Other Loan Fees			1,089				6				24				933				825				264				2,052				1,488				564
RCS			10,514				9,763				8,416				7,962				7,501				3,013				36,655				27,318				9,337
Total RPG			11,610				9,794				8,481				40,299				8,376				3,234				70,184				42,462				27,722
Total loan fees - Total Company		$	13,245			$	11,751			$	10,086			$	41,490			$	9,591			$	3,654			$	76,572			$	50,215			$	26,357

(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																				$ Change (8)				As of and for the Years Ended								$ Change (8)
(dollars in thousands)		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022				Q4 to Q4				Dec. 31, 2023				Dec. 31, 2022				12M to 12M
Mortgage Loans Held for Sale
Balance, beginning of period		$	2,711			$	4,038			$	1,034			$	1,302			$	2,912			$	(201	)		$	1,302			$	29,393			$	(28,091	)
Originations			24,050				23,860				13,948				15,942				10,359				13,691				77,800				205,365				(127,565	)
Proceeds from sales			(24,134	)			(25,681	)			(11,483	)			(16,630	)			(12,207	)			(11,927	)			(77,928	)			(238,398	)			160,470
Net gain on sale			600				494				539				420				238				362				2,053				4,942				(2,889	)
Balance, end of period		$	3,227			$	2,711			$	4,038			$	1,034			$	1,302			$	1,925			$	3,227			$	1,302			$	1,925
RCS Consumer Loans Held for Sale
Balance, beginning of period		$	21,972			$	21,544			$	17,432			$	17,875			$	21,475			$	497			$	17,875			$	22,684			$	(4,809	)
Originations			300,281				287,088				262,404				207,222				225,588				74,693				1,056,995				1,045,715				11,280
Proceeds from sales			(302,118	)			(289,997	)			(261,301	)			(210,199	)			(231,999	)			(70,119	)			(1,063,615	)			(1,063,801	)			186
Net gain on sale			3,873				3,337				3,009				2,534				2,811				1,062				12,753				13,277				(524	)
Balance, end of period		$	24,008			$	21,972			$	21,544			$	17,432			$	17,875			$	6,133			$	24,008			$	17,875			$	6,133

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(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)		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022
Total stockholders' equity - GAAP (a)		$	912,756			$	893,400			$	886,971			$	882,202			$	856,613
Less: Goodwill			40,516				40,516				40,516				41,618				16,300
Less: Mortgage servicing rights			7,411				7,710				7,995				8,406				8,769
Less: Core deposit intangible			2,439				2,576				2,713				2,813				—
Tangible stockholders' equity - Non-GAAP (c)		$	862,390			$	842,598			$	835,747			$	829,365			$	831,544
Total assets - GAAP (b)		$	6,594,891			$	6,386,475			$	6,369,779			$	6,074,091			$	5,835,543
Less: Goodwill			40,516				40,516				40,516				41,618				16,300
Less: Mortgage servicing rights			7,411				7,710				7,995				8,406				8,769
Less: Core deposit intangible			2,439				2,576				2,713				2,813				—
Tangible assets - Non-GAAP (d)		$	6,544,525			$	6,335,673			$	6,318,555			$	6,021,254			$	5,810,474
Total stockholders' equity to total assets - GAAP (a/b)			13.84	%			13.99	%			13.92	%			14.52	%			14.68	%
Tangible stockholders' equity to tangible assets - Non-GAAP (c/d)			13.18	%			13.30	%			13.23	%			13.77	%			14.31	%
Number of shares outstanding (e)			19,358				19,453				19,606				19,758				19,747
Book value per share - GAAP (a/e)		$	47.15			$	45.93			$	45.24			$	44.65			$	43.38
Tangible book value per share - Non-GAAP (c/e)			44.55				43.31				42.63				41.98				42.11

(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																					Year Ended
(dollars in thousands)		Dec. 31, 2023				Sep. 30, 2023				Jun. 30, 2023				Mar. 31, 2023				Dec. 31, 2022					Dec. 31, 2023				Dec. 31, 2022
Net interest income - GAAP		$	66,782			$	64,825			$	64,529			$	92,642			$	63,113				$	288,778			$	236,691
Noninterest income - GAAP			14,780				14,345				19,651				22,681				13,124					71,457				89,810
Less: Contract termination fee related to TRS Transaction			—				—				—				—				—					—				5,000
Less: Legal settlement related to TRS Transaction			—				—				—				—				—					—				13,000
Less: BOLI benefit payment received			—				—				1,728				—				—					1,728				—
Less: Net gain (loss) on securities			6				2				3				1				1					12				(222	)
Total adjusted income - Non-GAAP (a)		$	81,556			$	79,168			$	82,449			$	115,322			$	76,236				$	358,495			$	308,723
Noninterest expense - GAAP		$	47,054			$	48,368			$	51,533			$	52,443			$	44,905				$	199,398			$	187,308
Less: Expenses related to CBank acquisition			92				(132	)			127				2,073				—					2,160				—
Less: Expenses related to TRS Transaction			—				—				—				—				—					—				914
Adjusted noninterest expense - Non-GAAP (b)		$	46,962			$	48,500			$	51,406			$	50,370			$	44,905				$	197,238			$	186,394
Efficiency Ratio - Non-GAAP (b/a)			58	%			61	%			62	%			44	%			59	%				55	%			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 December 31, 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.

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(10) The following table provides a reconciliation of Net Income in accordance with GAAP to Adjusted Net Income, a non-GAAP disclosure. The Company provides the Adjusted Net Income, a non-GAAP measure, in addition to GAAP Net Income, because of its widespread use by investors as a means to evaluate company performance. The Adjusted Net Income figure excludes material nonrecurring revenues and expenses related to the CBank merger and the now-cancelled TRS Transaction.

		Year Ended
(dollars in thousands)		Dec. 31, 2023				Dec. 31, 2022				$ Change				% Change
Net income - GAAP		$	90,374			$	91,106			$	(732	)			(1	)%
Add: Expenses related to CBank acquisition			2,160				—				2,160			NM
Add: Provision expense related to CBank acquisition			2,689				—				2,689			NM
Less: Contract termination fee related to TRS Transaction			—				(5,000	)			5,000			NM
Less: Legal settlement related to TRS Transaction			—				(13,000	)			13,000			NM
Add: Expenses related to TRS Transaction			—				914				(914	)		NM
Subtotal: Adjusted Items		$	4,849			$	(17,086	)		$	21,935			NM
Add: Applicable Income Tax Impact on the above items			(978	)			3,859				(4,837	)		NM
Total adjusted net income - Non-GAAP (a)		$	94,245			$	77,879			$	16,366				21	%

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

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