Form 8-K

8-K — REPUBLIC BANCORP INC /KY/

Accession: 0001104659-26-086487

Filed: 2026-07-24

Period: 2026-07-24

CIK: 0000921557

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — rbcaa-20260724x8k.htm (Primary)

EX-99.1 (rbcaa-20260724xex99d1.htm)

EX-99.2 (rbcaa-20260724xex99d2.htm)

GRAPHIC (rbcaa-20260724xex99d2001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: rbcaa-20260724x8k.htm · Sequence: 1

REPUBLIC BANCORP, INC._July 24, 2026

0000921557false00009215572026-07-242026-07-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 24, 2026

REPUBLIC BANCORP, INC.

(Exact name of registrant as specified in its charter)

Kentucky

0-24649

61-0862051

(State or other jurisdiction

(Commission File Number)

(I.R.S. Employer Identification No.)

of incorporation)

601 West Market Street, Louisville, Kentucky

40202

(Address of principal executive offices)

(zip code)

Registrant’s telephone number, including area code: (502) 584-3600

NOT APPLICABLE

(Former Name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A Common

RBCAA

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 24, 2026, Republic Bancorp, Inc. announced its results of operations for the quarter and six months ended June 30, 2026. The public announcement was made by means of an earnings release, the text of which is set forth in Exhibit 99.1 hereto. A financial supplement to this earnings release is attached as Exhibit 99.2 hereto.

Item 9.01.Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

99.1

Republic Bancorp, Inc. Earnings Release dated July 24, 2026.

99.2

Earnings Release Financial Supplement – Second Quarter 2026.

104

Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Republic Bancorp, Inc.

(Registrant)

Date: July 24, 2026

By:

/s/ Kevin Sipes

Executive Vice President, Chief Financial Officer & Chief Accounting Officer

EX-99.1

Filename: rbcaa-20260724xex99d1.htm · Sequence: 2

Exhibit 99.1

Republic Bancorp Reports Solid Second Quarter Results

Highlighted by Continued Strong Core Bank Net Interest Income Expansion

LOUISVILLE, Ky.--(BUSINESS WIRE)—July 24, 2026--Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank & Trust Company (the “Bank”).

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

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

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

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

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

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

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

Total Company Financial Performance Highlights

Three Months Ended Jun. 30,

Six Months Ended Jun. 30,

(dollars in thousands, except per share data)

2026

2025

Change

2026

2025

Change

Income Before Income Tax Expense

42,550

40,390

2,160

97,935

100,352

(2,417)

(2)

Net Income

32,866

31,484

1,382

75,435

78,752

(3,317)

(4)

Diluted EPS

1.68

1.61

0.07

3.85

4.03

(0.18)

(4)

Return on Average Assets ("ROA")

1.88

1.79

2.14

2.21

(3)

Return on Average Equity ("ROE")

11.42

11.96

(5)

13.32

15.28

(13)

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

Core Bank(1)

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

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

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

Interest-Earning Assets

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

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

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

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

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

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

Funding Liabilities (Deposits and Borrowings)

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

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

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

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

Net Interest Income

Net Interest Margin

(dollars in thousands)

Three Months Ended Jun. 30,

Reportable Segment

2026

2025

$ Change

2026

2025

% Change

Traditional Banking

60,375

56,380

3,995

4.16

3.84

0.32

Warehouse Lending

3,744

3,549

195

2.59

2.51

0.08

Total Core Bank

64,119

59,929

4,190

4.02

3.72

0.30

Average Loan Balances

Period-End Loan Balances

(dollars in thousands)

Three Months Ended Jun. 30,

Jun. 30,

Reportable Segment

2026

2025

$ Change

% Change

2026

2025

$ Change

% Change

Traditional Banking

4,646,612

4,587,342

59,270

4,655,509

4,582,152

73,357

Warehouse Lending

580,065

566,707

13,358

614,696

671,773

(57,077)

(8)

Total Core Bank

5,226,677

5,154,049

72,628

5,270,205

5,253,925

16,280

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

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

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

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

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

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

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

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

As of Jun. 30, 2026

As of Jun. 30, 2025

Year-over-Year Change

(dollars in thousands)

Allowance

Reportable Segment

Gross Loans

Allowance

to Loans

Gross Loans

Allowance

to Loans

% Change

Traditional Banking

4,655,509

63,806

1.37

4,582,152

59,055

1.29

0.08

Warehouse Lending

614,696

1,533

0.25

671,773

1,676

0.25

—

Total Core Bank

5,270,205

65,339

1.24

5,253,925

60,731

1.16

0.08

Tax Refund Solutions

156

0.64

—

0.64

—

Republic Credit Solutions

140,045

22,427

16.01

119,000

21,029

17.67

(1.66)

(9)

Total Republic Processing Group

140,201

22,428

16.00

119,095

21,029

17.66

(1.66)

(9)

Total Company

5,410,406

87,767

1.62

5,373,020

81,760

1.52

0.10

Allowance for Credit Losses on Loans Roll-Forward

Three Months Ended June 30,

2026

2025

(in thousands)

Beginning

Charge-

Ending

Beginning

Charge-

Ending

Reportable Segment

Balance

Provision

offs

Recoveries

Balance

Provision

offs

Recoveries

Balance

Traditional Banking

64,041

(143)

(360)

268

63,806

58,851

517

(470)

157

59,055

Warehouse Lending

1,571

(38)

—

1,533

1,421

255

—

1,676

Total Core Bank

65,612

(181)

(360)

268

65,339

60,272

772

(470)

157

60,731

Tax Refund Solutions

6,344

(1,046)

(6,439)

1,142

25,981

(3,932)

(25,059)

3,010

—

Republic Credit Solutions

19,884

6,384

(4,244)

403

22,427

20,050

4,983

(4,384)

380

21,029

Total Republic Processing Group

26,228

5,338

(10,683)

1,545

22,428

46,031

1,051

(29,443)

3,390

21,029

Total Company

91,840

5,157

(11,043)

1,813

87,767

106,303

1,823

(29,913)

3,547

81,760

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

Quarters Ended:

Years Ended:

Jun. 30,

Dec. 31,

Core Banking Credit Quality Ratios

2026

2025

2024

2023

Nonperforming loans to total loans

0.58

0.41

0.45

0.44

0.39

Nonperforming assets to total loans (including OREO)

0.60

0.43

0.47

0.46

0.41

Delinquent loans* to total loans

0.35

0.19

0.26

0.20

0.16

Net charge-offs to average loans

0.01

0.02

0.03

0.05

0.01

(Quarterly rates annualized)

OREO = Other Real Estate Owned

*Loans 30-days-or-more past due at the time the second contractual payment is past due.

Noninterest Income – Core Bank noninterest income increased $796,000, or 8%, to $11.3 million for the second quarter of 2026 from $10.5 million for the second quarter of 2025.

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

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

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

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

Republic Processing Group(1)

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

Tax Refund Solutions(1)

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

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

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

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

Republic Payment Solutions

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

Republic Credit Solutions(1)

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

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

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

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

Republic Bank. Time to Thrive.™

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in the preceding paragraphs are based on our current expectations and assumptions regarding our business, the future average balances of the new RPS program launched during June 2026, the future impact to our balance sheet and income statement resulting from changes in interest rates, the yield curve, the ability to develop products and strategies in order to meet the Company’s long-term strategic goals and other future conditions.

Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual results may differ materially from those expressed or implied by these forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on such statements. Forward-looking statements are neither historical facts nor guarantees of future performance.

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

Footnotes:

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

(2) Provision or Provision for expected credit loss expense includes provisions for on-balance-sheet loans, with changes reflected in the Allowance, or Allowance for credit losses. Provision expense for off-balance-sheet credit exposures is recorded as a component of other noninterest expense, with changes reflected in the Allowance for credit losses on off-balance-sheet credit exposures, which is included in other liabilities on the Company’s balance sheet.

NM – Not meaningful

NA – Not applicable

CONTACT:

Republic Bancorp, Inc.

Kevin Sipes

Executive Vice President & Chief Financial Officer

(502) 560-8628

EX-99.2

Filename: rbcaa-20260724xex99d2.htm · Sequence: 3

Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

SECOND QUARTER 2026

TABLE OF CONTENTS

BALANCE SHEET DATA

S-2

AVERAGE BALANCE SHEET DATA

S-3

TOTAL COMPANY AVERAGE BALANCE SHEETS AND INTEREST RATES

S-4

INCOME STATEMENT DATA

S-5

SELECTED DATA AND RATIOS

S-6

LOAN COMPOSITION

S-7

ALLOWANCE FOR CREDIT LOSSES ON LOANS

S-7

CREDIT QUALITY DATA AND RATIOS

S-8

SEGMENT DATA

S-9

FOOTNOTES

S-12

S-1

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026

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

Balance Sheet Data

As of

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Assets:

Cash and cash equivalents

354,091

599,105

219,972

484,238

484,808

Investment securities

892,116

886,641

890,582

849,226

711,906

Loans held for sale (1)

57,997

41,782

117,350

40,206

36,802

Loans

5,410,406

5,366,973

5,446,329

5,281,374

5,373,020

Allowance for credit losses

(87,767)

(91,840)

(85,352)

(79,865)

(81,760)

Loans, net

5,322,639

5,275,133

5,360,977

5,201,509

5,291,260

Federal Home Loan Bank ("FHLB") stock, at cost

18,149

27,014

32,114

25,849

24,568

Premises and equipment, net

42,253

40,843

35,986

37,884

36,651

Right-of-use assets

29,042

30,443

31,330

32,804

34,327

Goodwill

40,516

Other real estate owned ("OREO")

843

896

1,277

1,246

1,054

Bank owned life insurance ("BOLI")

112,216

111,272

110,721

109,773

108,738

Other assets and accrued interest receivable

191,967

199,634

201,236

191,668

200,287

Total assets

7,061,829

7,253,279

7,042,061

7,014,919

6,970,917

Liabilities and Stockholders' Equity:

Deposits:

Noninterest-bearing

1,248,704

1,275,427

1,173,461

1,239,023

1,223,016

Interest-bearing

4,303,038

4,233,693

4,029,686

4,099,322

4,094,223

Total deposits

5,551,742

5,509,120

5,203,147

5,338,345

5,317,239

Securities sold under agreements to

repurchase ("SSUAR") and other short-term borrowings

68,615

81,337

88,504

74,522

72,103

Operating lease liabilities

30,077

31,492

32,370

33,833

35,335

Federal Home Loan Bank advances

157,000

366,500

506,000

375,000

370,000

Other liabilities and accrued interest payable

97,598

131,443

109,747

108,699

116,134

Total liabilities

5,905,032

6,119,892

5,939,768

5,930,399

5,910,811

Stockholders' equity

1,156,797

1,133,387

1,102,293

1,084,520

1,060,106

Total liabilities and stockholders' equity

7,061,829

7,253,279

7,042,061

7,014,919

6,970,917

S-2

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Average Balance Sheet Data

Three Months Ended

Six Months Ended

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Assets:

Interest-earning assets:

Federal funds sold and other interest-earning deposits

256,961

344,353

407,022

476,681

622,909

300,416

570,140

Investment securities, including FHLB stock

912,466

906,692

901,006

806,304

686,223

909,595

653,058

Loans, including loans held for sale

5,396,640

5,464,500

5,365,734

5,281,369

5,318,666

5,430,382

5,407,821

Total interest-earning assets

6,566,067

6,715,545

6,673,762

6,564,354

6,627,798

6,640,393

6,631,019

Allowance for credit losses

(92,164)

(89,017)

(79,832)

(81,196)

(105,726)

(90,599)

(104,008)

Noninterest-earning assets:

Noninterest-earning cash and cash equivalents

100,038

132,446

70,289

82,616

125,098

116,152

256,814

Premises and equipment, net

41,741

37,907

38,868

37,557

33,250

39,835

32,883

Bank owned life insurance

111,718

111,300

110,385

109,381

108,416

111,510

108,010

Other assets

273,948

286,831

273,906

279,166

273,195

280,353

273,420

Total assets

7,001,348

7,195,012

7,087,378

6,991,878

7,062,031

7,097,644

7,198,138

Liabilities and Stockholders' Equity:

Interest-bearing liabilities:

Interest-bearing deposits

4,192,067

4,157,622

4,084,332

4,078,925

4,081,209

4,174,940

4,061,709

SSUARs and other short-term borrowings

82,507

89,307

133,851

73,135

87,760

85,888

98,202

Federal Home Loan Bank advances

158,654

426,794

377,793

372,283

370,000

291,983

444,972

Total interest-bearing liabilities

4,433,228

4,673,723

4,595,976

4,524,343

4,538,969

4,552,811

4,604,883

Noninterest-bearing liabilities and Stockholders’ Equity:

Noninterest-bearing deposits

1,289,710

1,257,977

1,261,600

1,254,609

1,323,622

1,273,931

1,406,890

Other liabilities

123,813

133,479

125,515

131,269

143,941

128,619

147,103

Stockholders' equity

1,154,597

1,129,833

1,104,287

1,081,657

1,055,499

1,142,283

1,039,262

Total liabilities and stockholders’ equity

7,001,348

7,195,012

7,087,378

6,991,878

7,062,031

7,097,644

7,198,138

S-3

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Total Company Average Balance Sheet and Interest Rates

Three Months Ended June 30, 2026

Three Months Ended June 30, 2025

Average

Balance

Interest

Rate

Balance

Interest

Rate

ASSETS

Interest-earning assets:

Federal funds sold and other interest-earning deposits

256,961

2,396

3.74

622,909

6,917

4.45

Investment securities, including FHLB stock (a)

912,466

9,442

4.15

686,223

6,346

3.71

TRS Refund Advances (b)

7,048

3.81

26,353

0.38

RCS LOC products (b)

48,068

14,036

117.12

46,252

12,434

107.83

Other RPG loans (c)

114,847

1,834

6.41

92,012

1,559

6.80

Outstanding Warehouse lines of credit

580,065

9,155

6.33

566,707

9,803

6.94

Traditional Banking loans (c)

4,646,612

65,601

5.66

4,587,342

65,119

5.69

Total loans (d)

5,396,640

90,693

6.74

5,318,666

88,940

6.71

Total interest-earning assets

6,566,067

102,531

6.26

6,627,798

102,203

6.19

Allowance for credit losses

(92,164)

(105,726)

Noninterest-earning assets:

Noninterest-earning cash and cash equivalents

100,038

125,098

Premises and equipment, net

41,741

33,250

Bank owned life insurance

111,718

108,416

Other assets (a)

273,948

273,195

Total assets

7,001,348

7,062,031

LIABILITIES AND STOCKHOLDERS’ EQUITY

Interest-bearing liabilities:

Transaction accounts

1,707,743

2,092

0.49

1,699,450

2,557

0.60

Money market accounts

1,565,003

9,324

2.39

1,406,053

10,183

2.90

Time deposits

518,078

4,612

3.57

445,129

4,168

3.76

Reciprocal money market and time deposits

298,577

1,935

2.60

318,576

2,622

3.30

Brokered deposits

102,666

1,159

4.53

212,001

2,320

4.39

Total interest-bearing deposits

4,192,067

19,122

1.83

4,081,209

21,850

2.15

SSUARs and other short-term borrowings

82,507

0.43

87,760

140

0.64

Federal Home Loan Bank advances

158,654

1,618

4.09

370,000

4,011

4.35

Total interest-bearing liabilities

4,433,228

20,829

1.88

4,538,969

26,001

2.30

Noninterest-bearing liabilities and Stockholders’ equity:

Noninterest-bearing deposits

1,289,710

1,323,622

Other liabilities

123,813

143,941

Stockholders’ equity

1,154,597

1,055,499

Total liabilities and stockholders’ equity

7,001,348

7,062,031

Net interest income

81,702

76,202

Net interest spread

4.38

3.89

Net interest margin

4.99

4.61

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

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

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

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

S-4

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Income Statement Data

Three Months Ended

Six Months Ended

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Total interest income (2)

102,531

113,787

103,233

103,239

102,203

216,318

232,041

Total interest expense

20,829

23,335

24,423

26,269

26,001

44,164

53,151

Net interest income

81,702

90,452

78,810

76,970

76,202

172,154

178,890

Provision

5,157

9,780

10,079

2,023

1,823

14,937

19,495

Noninterest income:

Service charges on deposit accounts

4,068

3,883

3,825

3,646

3,505

7,951

6,965

Net refund transfer fees

3,208

9,525

108

1,117

2,567

12,733

16,460

Mortgage banking income (1)

1,799

1,825

1,620

2,064

1,896

3,624

3,717

Interchange fee income

3,623

2,873

2,884

3,030

3,200

6,496

6,277

Program fees (1)

5,058

4,549

4,444

4,888

4,451

9,607

8,273

Increase in cash surrender value of BOLI

943

930

947

1,035

821

1,873

1,614

Net losses on OREO

(41)

(50)

(53)

(52)

(53)

(91)

(106)

Gain on sale of Republic Bank Finance loans/leases (1)

—

5,845

—

5,845

—

Gain on sale of Visa Class B-1 shares

—

4,090

Other (1)

911

579

1,684

840

1,257

1,490

3,508

Total noninterest income

19,569

29,959

15,459

16,568

17,644

49,528

50,798

Noninterest expense:

Salaries and employee benefits

30,943

32,117

34,163

31,027

30,801

63,060

61,870

Technology, equipment, and communication

8,686

7,946

8,581

8,710

8,684

16,632

17,327

Occupancy

3,460

3,648

3,673

3,547

3,391

7,108

6,955

Marketing and development

3,097

1,778

2,422

2,668

1,243

4,875

2,630

FDIC insurance expense

720

832

751

763

731

1,552

1,550

Interchange related expense

1,405

1,401

1,609

1,640

1,488

2,806

3,124

Legal and professional fees

836

450

825

1,100

666

1,286

1,784

Core conversion and related contract consulting fees

—

220

182

—

5,896

FHLB advances early termination penalties

—

2,316

—

2,316

—

Other

4,417

4,758

4,351

4,201

4,447

9,175

8,705

Total noninterest expense

53,564

55,246

56,595

53,753

51,633

108,810

109,841

Income before income tax expense

42,550

55,385

27,595

37,762

40,390

97,935

100,352

Income tax expense

9,684

12,816

4,774

8,018

8,906

22,500

21,600

Net income

32,866

42,569

22,821

29,744

31,484

75,435

78,752

S-5

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Selected Data and Ratios

As of and for the Three Months Ended

As of and for the Six Months Ended

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Per Share Data:

Basic weighted average shares outstanding

19,833

19,795

19,744

19,733

19,721

19,819

19,721

Diluted weighted average shares outstanding

19,864

19,830

19,799

19,791

19,784

19,852

19,795

Period-end shares outstanding:

Class A Common Stock

17,498

17,467

17,393

17,387

17,378

17,498

17,378

Class B Common Stock

2,137

2,148

2,149

2,137

2,149

Book value per share (3)

58.92

57.78

56.41

55.51

54.29

58.92

54.29

Tangible book value per share (3)

56.44

55.30

53.91

53.01

51.78

56.44

51.78

Earnings per share ("EPS"):

Basic EPS - Class A Common Stock

1.69

2.18

1.17

1.53

1.62

3.86

4.04

Basic EPS - Class B Common Stock

1.53

1.98

1.07

1.39

1.47

3.51

3.68

Diluted EPS - Class A Common Stock

1.68

2.18

1.17

1.52

1.61

3.85

4.03

Diluted EPS - Class B Common Stock

1.53

1.98

1.06

1.39

1.47

3.50

3.66

Cash dividends declared per Common share:

Class A Common Stock

0.495

0.451

0.990

0.902

Class B Common Stock

0.450

0.410

0.900

0.820

Performance Ratios:

Return on average assets

1.88

2.40

1.28

1.69

1.79

2.14

2.21

Return on average equity

11.42

15.28

8.20

10.91

11.96

13.32

15.28

Efficiency ratio (4)

52.9

45.9

60.0

57.5

55.0

49.1

47.8

Yield on average interest-earning assets (2)

6.26

6.87

6.14

6.24

6.19

6.57

7.06

Cost of average interest-bearing liabilities

1.88

2.02

2.11

2.30

1.96

2.33

Cost of average deposits (5)

1.40

1.41

1.50

1.64

1.62

1.40

1.59

Net interest spread (2)

4.38

4.85

4.03

3.94

3.89

4.61

4.73

Net interest margin - Total Company (2)

4.99

5.46

4.69

4.65

4.61

5.23

5.44

Net interest margin - Core Bank (2)

4.02

3.96

3.87

3.78

3.72

3.99

3.71

Other Information:

End of period FTEs (6) - Total Company

958

966

973

978

974

958

974

End of period FTEs (6) - Core Bank

897

907

911

918

917

897

917

Number of full-service banking centers

S-6

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Loan Composition and Allowance for Credit Losses on Loans

As of

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Loan Composition:

Traditional Banking:

Residential real estate:

Owner-occupied

1,042,149

1,028,473

1,040,080

1,044,737

1,031,898

Nonowner-occupied

275,983

280,777

283,246

291,373

303,357

Commercial real estate

Owner-occupied

704,806

684,405

666,948

643,519

650,771

Nonowner-occupied

819,996

819,363

799,420

801,644

818,367

Multi-Family

377,392

328,154

331,370

321,453

319,905

Construction & land development

215,341

245,423

238,455

246,065

258,817

Commercial & industrial

547,145

541,646

528,873

488,786

481,219

Lease financing receivables

21,572

20,710

20,523

96,605

96,547

Aircraft

202,729

202,388

203,120

202,742

211,910

Home equity

429,812

425,662

413,638

399,691

387,599

Consumer:

Credit cards

11,422

11,659

10,711

10,787

10,315

Overdrafts

825

802

971

881

826

Automobile loans

645

678

738

813

916

Other consumer

5,692

6,151

8,204

9,210

9,705

Total Traditional Banking

4,655,509

4,596,291

4,546,297

4,558,306

4,582,152

Warehouse lines of credit

614,696

629,848

754,090

609,826

671,773

Total Core Banking

5,270,205

5,226,139

5,300,387

5,168,132

5,253,925

Republic Processing Group:

Tax Refund Solutions:

Refund Advances

—

8,458

12,924

—

Other TRS commercial & industrial loans

156

701

19,473

292

Republic Credit Solutions

140,045

131,675

113,545

112,950

119,000

Total Republic Processing Group

140,201

140,834

145,942

113,242

119,095

Total Loans - Total Company

5,410,406

5,366,973

5,446,329

5,281,374

5,373,020

Allowance for Credit Losses on Loans:

Traditional Banking

63,806

64,041

63,662

58,479

59,055

Warehouse Lending

1,533

1,571

1,882

1,522

1,676

Total Core Banking

65,339

65,612

65,544

60,001

60,731

Tax Refund Solutions

6,344

333

—

Republic Credit Solutions

22,427

19,884

19,475

19,863

21,029

Total Republic Processing Group

22,428

26,228

19,808

19,864

21,029

Total Allowance - Total Company

87,767

91,840

85,352

79,865

81,760

Allowance to Total Loans:

Traditional Banking

1.37

1.39

1.40

1.28

1.29

Warehouse Lending

0.25

Total Core Banking

1.24

1.26

1.24

1.16

Tax Refund Solutions

0.64

69.27

1.03

0.34

—

Republic Credit Solutions

16.01

15.10

17.15

17.59

17.67

Total Republic Processing Group

16.00

18.62

13.57

17.54

17.66

Total Company

1.62

1.71

1.57

1.51

1.52

S-7

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Credit Quality Data and Ratios

As of and for the Three Months Ended

As of and for the Six Months Ended

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Nonperforming Assets - Total Company:

Loans on nonaccrual status

30,645

31,784

23,806

21,572

21,537

30,645

21,537

Loans past due 90-days-or-more and still on accrual

161

137

105

Total nonperforming loans

30,728

31,852

23,967

21,709

21,642

30,728

21,642

OREO

843

896

1,277

1,246

1,054

843

1,054

Total nonperforming assets

31,571

32,748

25,244

22,955

22,696

31,571

22,696

Nonperforming Assets - Core Bank:

Loans on nonaccrual status

30,645

31,784

23,806

21,572

21,537

30,645

21,537

Loans past due 90-days-or-more and still on accrual

—

Total nonperforming loans

30,649

31,784

23,806

21,572

21,537

30,649

21,537

OREO

843

896

1,277

1,246

1,054

843

1,054

Total nonperforming assets

31,492

32,680

25,083

22,818

22,591

31,492

22,591

Delinquent Loans:

Core Bank

18,436

33,052

13,925

10,691

9,953

18,436

9,953

RPG

10,054

9,690

8,938

8,691

9,133

10,054

9,133

Total delinquent loans - Total Company

28,490

42,742

22,863

19,382

19,086

28,490

19,086

NCOs (Recoveries) by Segment:

Traditional Banking

326

879

251

313

418

449

Warehouse Lending

—

Core Bank

326

879

251

313

418

449

Tax Refund Solutions

5,297

(669)

(894)

(1,468)

22,049

4,628

21,356

Republic Credit Solutions

3,841

3,635

4,607

5,135

4,004

7,476

7,908

RPG

9,138

2,966

3,713

3,667

26,053

12,104

29,264

Total NCOs (recoveries) - Total Company

9,230

3,292

4,592

3,918

26,366

12,522

29,713

Credit Quality Ratios - Total Company:

Nonperforming loans to total loans

0.57

0.59

0.44

0.41

0.40

0.57

0.40

Nonperforming assets to total loans (including OREO)

0.58

0.61

0.46

0.43

0.42

0.58

0.42

Nonperforming assets to total assets

0.45

0.36

0.33

0.45

0.33

Allowance for credit losses to total loans

1.62

1.71

1.57

1.51

1.52

1.62

1.52

Allowance for credit losses to nonperforming loans

286

288

356

368

378

286

378

Delinquent loans to total loans (7)

0.53

0.80

0.42

0.37

0.36

0.53

0.36

Annualized NCOs (recoveries) to average loans

0.69

0.24

0.34

0.29

1.99

0.47

1.99

Credit Quality Ratios - Core Bank:

Nonperforming loans to total loans

0.58

0.61

0.45

0.42

0.41

0.58

0.41

Nonperforming assets to total loans (including OREO)

0.60

0.63

0.47

0.44

0.43

0.60

0.43

Nonperforming assets to total assets

0.49

0.38

0.35

0.49

0.35

Allowance for credit losses to total loans

1.24

1.26

1.24

1.16

1.24

1.16

Allowance for credit losses to nonperforming loans

213

206

275

278

282

213

282

Delinquent loans to total loans (7)

0.35

0.63

0.26

0.21

0.19

0.35

0.19

Annualized NCOs (recoveries) to average loans

0.01

0.03

0.07

0.02

TRS Refund Advances ("RAs and ERAs")

RAs and ERAs originated

—

246,396

12,924

—

246,396

662,556

Net (credit) charge to the Provision for RAs and ERAs

(1,056)

5,318

(598)

(1,454)

(3,934)

4,262

11,401

RAs and ERAs NCOs (recoveries)

5,227

(669)

(894)

(1,454)

21,885

4,558

21,194

S-8

Republic Bancorp, Inc.

Earnings Release

Financial Supplement

Second Quarter 2026 (continued)

Segment Data:

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

As of June 30, 2026, the Company was divided into five reportable segments: Traditional Banking, Warehouse Lending, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions. Management considers the first two segments to collectively constitute “Core Bank” or “Core Banking” operations, while the last three segments collectively constitute Republic Processing Group operations.

The nature of each segment’s operations and the primary drivers of net revenues by reportable segment are described below:

Reportable Segment:

Nature of Operations:

Primary Drivers of Net Revenue:

Core Banking:

Traditional Banking

Provides traditional banking products to clients in its market footprint via its banking center network and to clients outside of its market footprint primarily via its digital delivery channels.

Net interest income

Warehouse Lending

Provides short-term, revolving credit facilities to mortgage bankers across the U.S.

Net interest income

Republic Processing Group:

Tax Refund Solutions

Offers tax-related credit products and facilitates the receipt and payment of federal and state tax refunds through Refund Transfer products. TRS products are primarily provided to clients outside of the Bank’s market footprint.

Net interest income and Net refund transfer fees

Republic Payment Solutions

Offers general-purpose reloadable cards. RPS products are primarily provided to clients outside of the Bank’s market footprint.

Net interest income and Program fees

Republic Credit Solutions

Offers consumer credit products. RCS products are primarily provided to clients outside of the Bank’s market footprint, with a substantial portion of RCS clients considered subprime or near-prime borrowers.

Net interest income and Program fees

The accounting policies used for Republic’s reportable segments are consistent with those described in the summary of significant accounting policies. Segment performance is evaluated based on operating income before income taxes. Goodwill is allocated to the Traditional Banking segment. Income taxes are generally allocated based on income before income tax expense unless specific segment allocations can be reasonably determined.

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

S-9

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

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

Three Months Ended June 30, 2026

Core Banking

Republic Processing Group

Total

Tax

Republic

Traditional

Warehouse

Core

Refund

Payment

Credit

Total

(dollars in thousands)

Banking

Lending

Banking

Solutions

RPG

Company

Net interest income

60,375

3,744

64,119

3,006

14,550

17,583

81,702

Provision for expected credit loss expense

(143)

(38)

(181)

(1,046)

—

6,384

5,338

5,157

Net refund transfer fees

—

3,208

—

3,208

Mortgage banking income

1,799

—

1,799

—

1,799

Program fees

—

743

4,315

5,058

Other noninterest income

9,443

9,466

—

9,504

Total noninterest income

11,242

11,265

3,245

744

4,315

8,304

19,569

Total noninterest expense

44,878

987

45,865

2,100

1,293

4,306

7,699

53,564

Income before income tax expense

26,882

2,818

29,700

2,218

2,457

8,175

12,850

42,550

Income tax expense

6,212

676

6,888

473

535

1,788

2,796

9,684

Net income

20,670

2,142

22,812

1,745

1,922

6,387

10,054

32,866

Period-end assets

5,770,433

614,989

6,385,422

20,226

494,952

161,229

676,407

7,061,829

Net interest margin

4.16

2.59

4.02

4.99

Net-revenue concentration*

100

Three Months Ended June 30, 2025

Core Banking

Republic Processing Group

Total

Tax

Republic

Traditional

Warehouse

Core

Refund

Payment

Credit

Total

(dollars in thousands)

Banking

Lending

Banking

Solutions

RPG

Company

Net interest income

56,380

3,549

59,929

3,563

12,648

16,273

76,202

Provision for expected credit loss expense

517

255

772

(3,932)

—

4,983

1,051

1,823

Net refund transfer fees

—

2,567

—

2,567

Mortgage banking income

1,896

—

1,896

—

1,896

Program fees

—

735

3,716

4,451

Other noninterest income

8,550

8,573

156

—

157

8,730

Total noninterest income

10,446

10,469

2,723

736

3,716

7,175

17,644

Total noninterest expense

44,633

951

45,584

2,504

1,179

2,366

6,049

51,633

Income before income tax expense

21,676

2,366

24,042

4,213

3,120

9,015

16,348

40,390

Income tax expense

4,820

533

5,353

901

679

1,973

3,553

8,906

Net income

16,856

1,833

18,689

3,312

2,441

7,042

12,795

31,484

Period-end assets

5,788,697

672,166

6,460,863

32,771

346,586

130,697

510,054

6,970,917

Net interest margin

3.84

2.51

3.72

4.61

Net-revenue concentration*

100

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

S-10

Republic Bancorp, Inc.

Earnings Release Financial Supplement

Second Quarter 2026 (continued)

Six Months Ended June 30, 2026

Core Banking

Republic Processing Group

Total

Tax

Republic

Traditional

Warehouse

Core

Refund

Payment

Credit

Total

(dollars in thousands)

Banking

Lending

Banking

Solutions

RPG

Company

Net interest income

119,702

7,644

127,346

11,457

6,043

27,308

44,808

172,154

Provision for expected credit loss expense

562

(349)

213

4,296

—

10,428

14,724

14,937

Net refund transfer fees

—

12,733

—

12,733

Mortgage banking income

3,624

—

3,624

—

3,624

Program fees

—

1,519

8,088

9,607

Gain on sale of Republic Bank Finance loans/leases

5,845

—

5,845

—

5,845

Other noninterest income

17,548

17,595

120

124

17,719

Total noninterest income

27,017

27,064

12,853

1,522

8,089

22,464

49,528

Total noninterest expense

91,266

1,923

93,189

5,365

2,472

7,784

15,621

108,810

Income before income tax expense

54,891

6,117

61,008

14,649

5,093

17,185

36,927

97,935

Income tax expense

12,969

1,468

14,437

3,193

1,111

3,759

8,063

22,500

Net income

41,922

4,649

46,571

11,456

3,982

13,426

28,864

75,435

Period-end assets

5,770,433

614,989

6,385,422

20,226

494,952

161,229

676,407

7,061,829

Net interest margin

4.13

2.59

3.99

5.23

Net-revenue concentration*

100

Six Months Ended June 30, 2025

Core Banking

Republic Processing Group

Total

Tax

Republic

Traditional

Warehouse

Core

Refund

Payment

Credit

Total

(dollars in thousands)

Banking

Lending

Banking

Solutions

RPG

Company

Net interest income

109,701

6,577

116,278

29,874

7,557

25,181

62,612

178,890

Provision for expected credit loss expense

(252)

302

11,495

—

7,950

19,445

19,495

Net refund transfer fees

—

16,460

—

16,460

Mortgage banking income

3,717

—

3,717

—

3,717

Program fees

—

1,502

6,771

8,273

Gain on sale of Visa Class B-1 shares

4,090

—

4,090

—

4,090

Other noninterest income

18,003

18,046

210

212

18,258

Total noninterest income

25,810

25,853

16,670

1,503

6,772

24,945

50,798

Total noninterest expense

94,539

1,823

96,362

5,727

2,239

5,513

13,479

109,841

Income before income tax expense

41,224

4,495

45,719

29,322

6,821

18,490

54,633

100,352

Income tax expense

8,656

1,013

9,669

6,399

1,485

4,047

11,931

21,600

Net income

32,568

3,482

36,050

22,923

5,336

14,443

42,702

78,752

Period-end assets

5,788,697

672,166

6,460,863

32,771

346,586

130,697

510,054

6,970,917

Net interest margin

3.81

2.59

3.71

5.44

Net-revenue concentration*

100

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

S-11

Earnings Release Financial Supplement

Footnotes:

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

During the second quarter of 2025, the Traditional Banking segment entered into an agreement to sell its consumer credit card portfolio. As a result, these loans were transferred from held for investment to loans held for sale, and the related gain was recorded as a component of other noninterest income during the second quarter of 2025.

During the fourth quarter of 2025, the Traditional Banking segment entered into an agreement to sell approximately $82 million of Republic Bank Finance loans and lease financing receivables. As a result, these loans and lease financing receivables were transferred from held for investment to loans held for sale, and the related gain was recorded as a component of noninterest income during the first quarter of 2026.

As of and for the Three Months Ended

As of and for the Six Months Ended

(dollars in thousands)

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Mortgage Loans Held for Sale

Balance, beginning of period

12,953

7,516

15,338

8,850

9,140

7,516

8,312

Originations

67,334

47,990

58,417

59,494

51,788

115,324

93,021

Transferred from held for investment to held for sale

—

Proceeds from sales

(65,182)

(44,042)

(67,560)

(54,716)

(53,561)

(109,224)

(95,377)

Net gain on sale

1,461

1,489

1,321

1,710

1,483

2,950

2,894

Balance, end of period

16,566

12,953

7,516

15,338

8,850

16,566

8,850

Consumer Loans Held for Sale

Balance, beginning of period

28,829

27,995

24,868

27,952

32,125

27,995

24,075

Originations

379,542

291,165

277,273

271,718

321,127

670,707

587,778

Transferred from held for investment to held for sale

—

4,977

Proceeds from sales

(371,254)

(294,104)

(277,926)

(278,908)

(329,345)

(665,358)

(595,978)

Net gain on sale

4,314

3,773

3,780

4,106

4,045

8,087

7,100

Balance, end of period

41,431

28,829

27,995

24,868

27,952

41,431

27,952

Other Loans Held for Sale

Balance, beginning of period

—

81,839

—

81,839

—

Transferred from held for investment to held for sale

—

81,839

—

Proceeds from sales

—

(87,684)

—

(87,684)

—

Net gain on sale

—

5,845

—

5,845

—

Balance, end of period

—

81,839

—

(2) Loan fee income can meaningfully impact total interest income, loan yields, net interest income, net interest margin, and net interest spread. The following table presents total loan fees by reportable segment:

Three Months Ended

Six Months Ended

(in thousands)

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Traditional Banking

1,264

1,304

2,003

1,393

1,367

2,568

2,658

Warehouse Lending

361

396

362

364

369

757

679

Total Core Bank

1,625

1,700

2,365

1,757

1,736

3,325

3,337

Tax Refund Solutions

13,528

288

13,605

33,700

Republic Credit Solutions

14,036

12,441

11,411

12,123

12,434

26,477

24,671

Total Republic Processing Group

14,113

25,969

11,699

12,140

12,459

40,082

58,371

Total Loan Fees

15,738

27,669

14,064

13,897

14,195

43,407

61,708

S-12

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

As of

(dollars in thousands, except per share data)

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Total stockholders' equity - GAAP (a)

1,156,797

1,133,387

1,102,293

1,084,520

1,060,106

Less: Goodwill

40,516

Less: Mortgage servicing rights

6,783

6,693

6,811

6,798

6,840

Less: Core deposit intangible

1,343

1,432

1,535

1,637

1,739

Tangible stockholders' equity - Non-GAAP (c)

1,108,155

1,084,746

1,053,431

1,035,569

1,011,011

Total assets - GAAP (b)

7,061,829

7,253,279

7,042,061

7,014,919

6,970,917

Less: Goodwill

40,516

Less: Mortgage servicing rights

6,783

6,693

6,811

6,798

6,840

Less: Core deposit intangible

1,343

1,432

1,535

1,637

1,739

Tangible assets - Non-GAAP (d)

7,013,187

7,204,638

6,993,199

6,965,968

6,921,822

Total stockholders' equity to total assets - GAAP (a/b)

16.38

15.63

15.65

15.46

15.21

Tangible stockholders' equity to tangible assets - Non-GAAP (c/d)

15.80

15.06

14.87

14.61

Number of shares outstanding (e)

19,635

19,615

19,541

19,536

19,527

Book value per share - GAAP (a/e)

58.92

57.78

56.41

55.51

54.29

Tangible book value per share - Non-GAAP (c/e)

56.44

55.30

53.91

53.01

51.78

(4) The efficiency ratio, a non-GAAP measure, equals total noninterest expense divided by total revenue, which is the sum of net interest income and noninterest income. The adjusted efficiency ratio, a non-GAAP measure with no directly comparable GAAP measure, excludes notable infrequent or nonrecurring revenues and expenses related to the gain on sale of Republic Bank Finance, the nonrenewal of a large tax provider contract, the gain on the sale of Visa Class B-1 shares, the gain on sale of consumer credit cards, insurance proceeds received, the early termination penalty on Federal Home Loan Bank advances and core system deconversion and related consulting fees.

Three Months Ended

Six Months Ended

(dollars in thousands)

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Net interest income - GAAP (a)

81,702

90,452

78,810

76,970

76,202

172,154

178,890

Noninterest income - GAAP (b)

19,569

29,959

15,459

16,568

17,644

49,528

50,798

Total net revenue - GAAP (c)

101,271

120,411

94,269

93,538

93,846

221,682

229,688

Less: Gain on sale of Republic Bank Finance

—

5,845

—

5,845

—

Less: Nonrenewal of a large tax provider contract

—

(280)

580

2,201

—

13,004

Less: Gain on sale of Visa Class B-1 shares

—

4,090

Less: Gain on sale of consumer credit card portfolio

—

328

—

328

Less: Insurance recovery

—

1,571

Total adjusted revenue - Non-GAAP (e)

101,271

114,566

94,549

92,958

91,317

215,837

210,695

Noninterest expense - GAAP (d)

53,564

55,246

56,595

53,753

51,633

108,810

109,841

Less: Early termination penalty - FHLB advances

—

2,316

—

2,316

—

Less: Core system deconversion and consulting fees

—

220

182

—

5,896

Total adjusted noninterest expense - Non-GAAP (f)

53,564

52,930

56,375

53,656

51,451

106,494

103,945

Efficiency Ratio - GAAP (d/c)

52.9

45.9

60.0

57.5

55.0

49.1

47.8

Adjusted Efficiency Ratio - Non-GAAP (f/e)

52.9

46.2

59.6

57.7

56.3

49.3

S-13

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

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

(7) The delinquent loans to total loans ratio equals loans 30 days or more past due divided by total loans. Depending on the loan class, delinquency is determined based on either the number of days or the number of payments past due. As of June 30, 2026, delinquent loans for the Republic Processing Group segment included $0 of Early Season Refund Advances and Refund Advances, which do not have contractual due dates but were considered delinquent in 2026 if they remained unpaid 35 days after the taxpayer’s tax return was submitted to the applicable taxing authority. All unpaid Early Season Refund Advances and Refund Advances are charged off by the end of the second quarter.

NM – Not meaningful

NA – Not applicable

QTD – Quarter-to-date

YTD – Year-to-date

CONTACT:

Republic Bancorp, Inc.

Kevin Sipes

Executive Vice President & Chief Financial Officer

(502) 560-8628

S-14

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Jul. 24, 2026

Document and Entity Information [Abstract]

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Jul. 24, 2026

Entity Registrant Name

REPUBLIC BANCORP, INC.

Entity Incorporation, State or Country Code

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0-24649

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

-Number 240

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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- References

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