Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

FIRST QUARTER 2024

TABLE OF CONTENTS

BALANCE SHEET DATA	S-2
AVERAGE BALANCE SHEET DATA	S-3
TOTAL COMPANY AVERAGE BALANCE SHEETS AND INTEREST RATES	S-4
INCOME STATEMENT DATA	S-5
SELECTED DATA AND RATIOS	S-6
LOAN COMPOSITION	S-7
ALLOWANCE FOR CREDIT LOSSES ON LOANS	S-7
CREDIT QUALITY DATA AND RATIOS	S-8
SEGMENT DATA	S-9
FOOTNOTES	S-11

S-1

Republic Bancorp, Inc.

Earnings Release Financial Supplement‌

First quarter 2024

(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)

Balance Sheet Data
	As of										$ Change		$ Change
	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		From Dec. 31,2023		From Mar. 31, 2023
Assets:
Cash and cash equivalents	$	546,363	$	316,567	$	219,653	$	241,967	$	249,289	$	229,796	$	297,074
Investment securities, net of allowance for credit losses		664,294		667,874		703,007		706,238		725,163		(3,580)		(60,869)
Loans held for sale		100,060		27,235		24,683		25,582		18,466		72,825		81,594
Loans		5,224,292		5,239,861		5,081,099		5,053,142		4,774,234		(15,569)		450,058
Allowance for credit losses		(108,702)		(82,130)		(74,576)		(72,202)		(96,121)		(26,572)		(12,581)
Loans, net		5,115,590		5,157,731		5,006,523		4,980,940		4,678,113		(42,141)		437,477
Federal Home Loan Bank stock, at cost		43,729		23,770		31,420		29,395		25,939		19,959		17,790
Premises and equipment, net		33,557		33,411		33,926		33,840		33,672		146		(115)
Right-of-use assets		33,210		34,691		35,907		34,939		36,245		(1,481)		(3,035)
Goodwill		40,516		40,516		40,516		40,516		41,618		—		(1,102)
Other real estate owned ("OREO")		1,486		1,370		1,423		1,478		1,529		116		(43)
Bank owned life insurance ("BOLI")		104,670		103,916		103,211		102,521		102,322		754		2,348
Low-income housing tax credit investments		73,621		75,055		76,047		77,426		73,901		(1,434)		(280)
Other assets and accrued interest receivable		118,496		112,755		110,159		94,937		87,834		5,741		30,662
Total assets	$	6,875,592	$	6,594,891	$	6,386,475	$	6,369,779	$	6,074,091	$	280,701	$	801,501
Liabilities and Stockholders' Equity:
Deposits:
Noninterest-bearing	$	1,359,516	$	1,676,998	$	1,702,979	$	1,854,907	$	2,013,957	$	(317,482)	$	(654,441)
Interest-bearing		4,061,133		3,376,165		3,090,603		2,874,374		2,785,711		684,968		1,275,422
Total deposits		5,420,649		5,053,163		4,793,582		4,729,281		4,799,668		367,486		620,981
Securities sold under agreements to
repurchase ("SSUAR") and other short-term borrowings		84,522		97,618		80,797		92,093		134,412		(13,096)		(49,890)
Operating lease liabilities		34,076		35,539		36,726		35,721		37,031		(1,463)		(2,955)
Federal Home Loan Bank advances		270,000		380,000		465,000		520,000		108,000		(110,000)		162,000
Low-income housing tax credit obligations		56,093		58,619		58,858		55,998		42,437		(2,526)		13,656
Other liabilities and accrued interest payable		74,669		57,196		58,112		49,715		70,341		17,473		4,328
Total liabilities		5,940,009		5,682,135		5,493,075		5,482,808		5,191,889		257,874		748,120
Stockholders' equity		935,583		912,756		893,400		886,971		882,202		22,827		53,381
Total liabilities and stockholders' equity	$	6,875,592	$	6,594,891	$	6,386,475	$	6,369,779	$	6,074,091	$	280,701	$	801,501

S-2

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First quarter 2024 (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										Three Months Ended				$ Change (8)
	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Mar. 31, 2024		Mar. 31, 2023		3M to 3M
Assets:
Interest-earning assets:
Federal funds sold and other interest-earning deposits	$	454,426	$	201,206	$	177,003	$	114,368	$	241,211	$	454,426	$	241,211	$	213,215
Investment securities, including FHLB stock		732,678		769,016		771,453		774,829		773,172		732,678		773,172		(40,494)
Loans, including loans held for sale		5,454,344		5,111,263		5,006,081		4,904,167		4,665,543		5,454,344		4,665,543		788,801
Total interest-earning assets		6,641,448		6,081,485		5,954,537		5,793,364		5,679,926		6,641,448		5,679,926		961,522
Allowance for credit losses		(96,446)		(75,747)		(73,438)		(96,720)		(83,195)		(96,446)		(83,195)		(13,251)
Noninterest-earning assets:
Noninterest-earning cash and cash equivalents		280,618		101,119		96,303		113,865		295,905		280,618		295,905		(15,287)
Premises and equipment, net		33,889		33,940		34,013		33,967		32,232		33,889		32,232		1,657
Bank owned life insurance		104,305		103,557		102,825		102,599		102,004		104,305		102,004		2,301
Other assets		255,758		231,207		220,595		210,350		186,169		255,758		186,169		69,589
Total assets	$	7,219,572	$	6,475,561	$	6,334,835	$	6,157,425	$	6,213,041	$	7,219,572	$	6,213,041	$	1,006,531
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits	$	4,004,846	$	3,210,495	$	2,976,852	$	2,828,733	$	2,663,099	$	4,004,846	$	2,663,099	$	1,341,747
SSUARs and other short-term borrowings		102,592		141,861		90,063		117,852		202,910		102,592		202,910		(100,318)
Federal Home Loan Bank advances		536,209		357,321		441,543		256,000		245,344		536,209		245,344		290,865
Total interest-bearing liabilities		4,643,647		3,709,677		3,508,458		3,202,585		3,111,353		4,643,647		3,111,353		1,532,294
Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits		1,490,048		1,715,408		1,794,874		1,927,486		2,089,162		1,490,048		2,089,162		(599,114)
Other liabilities		152,835		144,194		133,237		132,687		133,321		152,835		133,321		19,514
Stockholders' equity		933,042		906,282		898,266		894,667		879,205		933,042		879,205		53,837
Total liabilities and stockholders’ equity	$	7,219,572	$	6,475,561	$	6,334,835	$	6,157,425	$	6,213,041	$	7,219,572	$	6,213,041	$	1,006,531

S-3

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First quarter 2024 (continued)

(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)

Total Company Average Balance Sheet and Interest Rates

	Three Months Ended March 31, 2024						Three Months Ended March 31, 2023
	Average				Average		Average				Average
(dollars in thousands)	Balance		Interest		Rate		Balance		Interest		Rate
ASSETS
Interest-earning assets:
Federal funds sold and other interest-earning deposits	$	454,426	$	6,289	5.57	%	$	241,211	$	2,700	4.48	%
Investment securities, including FHLB stock (a)		732,678		5,436	2.98			773,172		5,047	2.61
TRS Refund Advance loans (b)		287,806		34,652	48.42			249,378		31,405	50.37
RCS LOC products (b)		41,339		11,372	110.64			31,086		7,962	102.45
Other RPG loans (c) (f)		149,818		3,295	8.85			141,975		2,625	7.40
Outstanding Warehouse lines of credit (d) (f)		340,433		6,753	7.98			329,716		5,720	6.94
All other Core Bank loans (e) (f)		4,634,948		62,835	5.45			3,913,388		44,897	4.59
Total interest-earning assets		6,641,448		130,632	7.91			5,679,926		100,356	7.07
Allowance for credit losses		(96,446)						(83,195)
Noninterest-earning assets:
Noninterest-earning cash and cash equivalents		280,618						295,905
Premises and equipment, net		33,889						32,232
Bank owned life insurance		104,305						102,004
Other assets (a)		255,758						186,169
Total assets	$	7,219,572					$	6,213,041
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing liabilities:
Transaction accounts	$	1,833,566	$	5,729	1.26	%	$	1,644,777	$	1,742	0.42	%
Money market accounts		1,066,046		8,807	3.32			748,623		2,105	1.12
Time deposits		373,240		3,581	3.86			225,847		860	1.52
Reciprocal money market and time deposits		310,898		3,232	4.18			43,852		171	1.56
Brokered deposits		421,096		5,647	5.39			—		—	—
Total interest-bearing deposits		4,004,846		26,996	2.71			2,663,099		4,878	0.73
SSUARs and other short-term borrowings		102,592		130	0.51			202,910		248	0.49
Federal Home Loan Bank advances and other long-term borrowings		536,209		6,587	4.94			245,344		2,588	4.22
Total interest-bearing liabilities		4,643,647		33,713	2.92			3,111,353		7,714	0.99
Noninterest-bearing liabilities and Stockholders’ equity:
Noninterest-bearing deposits		1,490,048						2,089,162
Other liabilities		152,835						133,321
Stockholders’ equity		933,042						879,205
Total liabilities and stockholders’ equity	$	7,219,572					$	6,213,041
Net interest income			$	96,919					$	92,642
Net interest spread					4.99	%					6.08	%
Net interest margin					5.87	%					6.52	%

(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 $1.2 million and $933,000 for the three months ended March 31, 2024 and 2023.

(d) Interest income includes loan fees of $263,000 and $248,000 for the three months ended March 31, 2024 and 2023.

(e) Interest income includes loan fees of $1.4 million and $946,000 for the three months ended March 31, 2024 and 2023.

(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

First quarter 2024 (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										Three Months Ended				$ Change (8)
	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Mar. 31, 2024		Mar. 31, 2023		3M to 3M
Total interest income (1)	$	130,632	$	90,785	$	85,868	$	79,054	$	100,356	$	130,632	$	100,356	$	30,276
Total interest expense		33,713		24,003		21,043		14,525		7,714		33,713		7,714		25,999
Net interest income		96,919		66,782		64,825		64,529		92,642		96,919		92,642		4,277
Provision (2)		30,622		10,989		3,730		6,139		26,766		30,622		26,766		3,856
Noninterest income:
Service charges on deposit accounts		3,313		3,470		3,559		3,527		3,299		3,313		3,299		14
Net refund transfer fees		10,820		220		242		4,479		10,807		10,820		10,807		13
Mortgage banking income (3)		310		983		852		907		800		310		800		(490)
Interchange fee income		3,157		3,305		3,282		3,419		3,051		3,157		3,051		106
Program fees (3)		4,179		4,561		4,041		3,739		3,241		4,179		3,241		938
Increase in cash surrender value of BOLI		754		705		690		689		635		754		635		119
Net losses on OREO		(53)		(53)		(53)		(52)		(53)		(53)		(53)		—
Other*		893		1,589		1,732		2,943		901		893		901		(8)
Total noninterest income*		23,373		14,780		14,345		19,651		22,681		23,373		22,681		692
Noninterest expense:
Salaries and employee benefits		29,716		26,397		28,747		30,764		29,961		29,716		29,961		(245)
Technology, equipment, and communication		7,490		7,648		7,311		6,920		7,228		7,490		7,228		262
Occupancy		3,822		3,467		3,503		3,591		3,406		3,822		3,406		416
Marketing and development		1,924		2,304		2,055		2,513		1,574		1,924		1,574		350
FDIC insurance expense		772		690		677		724		637		772		637		135
Interchange related expense		1,298		1,536		1,580		1,350		1,499		1,298		1,499		(201)
Legal and professional fees		1,055		511		803		829		1,061		1,055		1,061		(6)
Merger expense		41		92		(132)		127		2,073		41		2,073		(2,032)
Other (2)*		4,853		4,409		3,824		4,715		5,004		4,853		5,004		(151)
Total noninterest expense*		50,971		47,054		48,368		51,533		52,443		50,971		52,443		(1,472)
Income before income tax expense		38,699		23,519		27,072		26,508		36,114		38,699		36,114		2,585
Income tax expense		8,093		3,860		5,501		5,456		8,022		8,093		8,022		71
Net income	$	30,606	$	19,659	$	21,571	$	21,052	$	28,092	$	30,606	$	28,092	$	2,514

(*) 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

First quarter 2024 (continued)

(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)

Selected Data and Ratios
	As of and for the Three Months Ended															As of and for the Three Months Ended						Change (8)
	Mar. 31, 2024			Dec. 31, 2023			Sep. 30, 2023			Jun. 30, 2023			Mar. 31, 2023			Mar. 31, 2024			Mar. 31, 2023			From Mar. 31, 2023 or 3M to 3M
Per Share Data:
Basic weighted average shares outstanding		19,607			19,586			19,706			19,884			19,935			19,607			19,935			(328)
Diluted weighted average shares outstanding		19,694			19,673			19,774			19,906			19,990			19,694			19,990			(296)
Period-end shares outstanding:
Class A Common Stock		17,260			17,203			17,296			17,449			17,598			17,260			17,598			(338)
Class B Common Stock		2,151			2,155			2,157			2,157			2,160			2,151			2,160			(9)
Book value per share (4)	$	48.20		$	47.15		$	45.93		$	45.24		$	44.65		$	48.20		$	44.65		$	3.55
Tangible book value per share (4)		45.63			44.55			43.31			42.63			41.98			45.63			41.98			3.65
Earnings per share ("EPS"):
Basic EPS - Class A Common Stock	$	1.59		$	1.01		$	1.11		$	1.07		$	1.42		$	1.59		$	1.42		$	0.17
Basic EPS - Class B Common Stock		1.44			0.93			1.01			0.98			1.30			1.44			1.30			0.14
Diluted EPS - Class A Common Stock		1.58			1.01			1.10			1.07			1.42			1.58			1.42			0.16
Diluted EPS - Class B Common Stock		1.43			0.92			1.01			0.98			1.29			1.43			1.29			0.14
Cash dividends declared per Common share:
Class A Common Stock	$	0.407		$	0.374		$	0.374		$	0.374		$	0.374		$	0.407		$	0.374		$	0.033
Class B Common Stock		0.370			0.340			0.340			0.340			0.340			0.370			0.340			0.030
Performance Ratios:
Return on average assets		1.70	%		1.21	%		1.36	%		1.37	%		1.81	%		1.70	%		1.81	%		(0.11)	%
Return on average equity		13.12			8.68			9.61			9.41			12.78			13.12			12.78			0.34
Efficiency ratio (5)		42			58			61			62			44			42			44			(2)
Yield on average interest-earning assets (1)		7.91			5.92			5.77			5.46			7.07			7.91			7.07			0.84
Cost of average interest-bearing liabilities		2.92			2.57			2.40			1.81			0.99			2.92			0.99			1.93
Cost of average deposits (6)		1.97			1.60			1.30			0.94			0.41			1.97			0.41			1.56
Net interest spread (1)		4.99			3.35			3.37			3.65			6.08			4.99			6.08			(1.09)
Net interest margin - Total Company (1)		5.87			4.36			4.35			4.46			6.52			5.87			6.52			(0.65)
Net interest margin - Core Bank		3.30			3.40			3.43			3.65			3.98			3.30			3.98			(0.68)
Other Information:
End of period FTEs (7) - Total Company		1,011			1,019			1,033			1,043			1,031			1,011			1,031			(20)
End of period FTEs - Core Bank		952			962			976			985			972			952			972			(20)
Number of full-service banking centers		47			47			46			45			44			47			44			3

S-6

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First quarter 2024 (continued)

(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)

Loan Composition and Allowance for Credit Losses on Loans
	As of															Change			Change
	Mar. 31, 2024			Dec. 31, 2023			Sep. 30, 2023			Jun. 30, 2023			Mar. 31, 2023			From Dec. 31,2023			From Mar. 31, 2023
Loan Composition
Traditional Banking:
Residential real estate:
Owner occupied	$	1,064,071		$	1,144,684		$	1,128,745		$	1,086,751		$	972,214		$	(80,613)		$	91,857
Nonowner occupied		342,481			345,965			344,682			350,390			328,529			(3,484)			13,952
Commercial real estate		1,800,801			1,785,289			1,745,187			1,727,092			1,682,573			15,512			118,228
Construction & land development		237,998			217,338			189,756			179,479			167,829			20,660			70,169
Commercial & industrial		453,971			464,078			473,790			478,759			478,101			(10,107)			(24,130)
Lease financing receivables		88,272			88,591			85,242			79,804			73,270			(319)			15,002
Aircraft		246,060			250,051			226,947			208,512			184,344			(3,991)			61,716
Home equity		309,083			295,133			275,750			255,755			250,050			13,950			59,033
Consumer:
Credit cards		16,858			16,654			16,950			17,134			16,775			204			83
Overdrafts		629			694			640			706			775			(65)			(146)
Automobile loans		2,054			2,664			3,380			4,177			5,267			(610)			(3,213)
Other consumer		11,372			7,428			5,674			6,109			5,450			3,944			5,922
Total Traditional Banking		4,573,650			4,618,569			4,496,743			4,394,668			4,165,177			(44,919)			408,473
Warehouse lines of credit		463,249			339,723			457,033			539,560			457,365			123,526			5,884
Total Core Banking		5,036,899			4,958,292			4,953,776			4,934,228			4,622,542			78,607			414,357
Republic Processing Group:
Tax Refund Solutions:
Refund Advances		52,101			103,115			—			—			31,665			(51,014)			20,436
Other TRS commercial & industrial loans		5,396			46,092			354			193			8,327			(40,696)			(2,931)
Republic Credit Solutions		129,896			132,362			126,969			118,721			111,700			(2,466)			18,196
Total Republic Processing Group		187,393			281,569			127,323			118,914			151,692			(94,176)			35,701
Total loans - Total Company	$	5,224,292		$	5,239,861		$	5,081,099		$	5,053,142		$	4,774,234		$	(15,569)		$	450,058
Allowance for Credit Losses on Loans ("Allowance")
Traditional Banking	$	59,176		$	58,998		$	56,931		$	55,567		$	55,216		$	178		$	3,960
Warehouse Lending		1,156			847			1,143			1,346			1,144			309			12
Total Core Banking		60,332			59,845			58,074			56,913			56,360			487			3,972
Tax Refund Solutions		30,069			3,990			1			—			25,981			26,079			4,088
Republic Credit Solutions		18,301			18,295			16,501			15,289			13,780			6			4,521
Total Republic Processing Group		48,370			22,285			16,502			15,289			39,761			26,085			8,609
Total Allowance - Total Company	$	108,702		$	82,130		$	74,576		$	72,202		$	96,121		$	26,572		$	12,581
Allowance to Total Loans
Traditional Banking		1.29	%		1.28	%		1.27	%		1.26	%		1.33	%		0.01	%		(0.04)	%
Warehouse Lending		0.25			0.25			0.25			0.25			0.25			—			—
Total Core Banking		1.20			1.21			1.17			1.15			1.22			(0.01)			(0.02)
Tax Refund Solutions		52.30			2.67			0.28			—			64.97			49.63			(12.67)
Republic Credit Solutions		14.09			13.82			13.00			12.88			12.34			0.27			1.75
Total Republic Processing Group		25.81			7.91			12.96			12.86			26.21			17.90			(0.40)
Total Company		2.08			1.57			1.47			1.43			2.01			0.51			0.07

S-7

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First quarter 2024 (continued)

(all amounts other than per share amounts, number of employees, and number of banking centers are expressed in thousands unless otherwise noted)

Credit Quality Data and Ratios
	As of and for the Three Months Ended															As of and for the Three Months Ended						Change (8)
	Mar. 31, 2024			Dec. 31, 2023			Sep. 30, 2023			Jun. 30, 2023			Mar. 31, 2023			Mar. 31, 2024			Mar. 31, 2023			From Mar. 31, 2023 or 3M to 3M
Credit Quality Asset Balances and Net Charge-off ("NCO") Data:
Nonperforming Assets - Total Company:
Loans on nonaccrual status	$	19,258		$	19,150		$	18,127		$	16,957		$	15,833		$	19,258		$	15,833		$	3,425
Loans past due 90-days-or-more and still on accrual		2,116			1,468			1,037			547			777			2,116			777			1,339
Total nonperforming loans		21,374			20,618			19,164			17,504			16,610			21,374			16,610			4,764
OREO		1,485			1,370			1,423			1,478			1,529			1,485			1,529			(44)
Total nonperforming assets	$	22,859		$	21,988		$	20,587		$	18,982		$	18,139		$	22,859		$	18,139		$	4,720
Nonperforming Assets - Core Bank:
Loans on nonaccrual status	$	19,258		$	19,150		$	18,127		$	16,957		$	15,833		$	19,258		$	15,833		$	3,425
Loans past due 90-days-or-more and still on accrual		—			—			—			—			—			—			—			—
Total nonperforming loans		19,258			19,150			18,127			16,957			15,833			19,258			15,833			3,425
OREO		1,485			1,370			1,423			1,478			1,529			1,485			1,529			(44)
Total nonperforming assets	$	20,743		$	20,520		$	19,550		$	18,435		$	17,362		$	20,743		$	17,362		$	3,381
Delinquent Loans:
Delinquent loans - Core Bank	$	7,796		$	8,176		$	6,806		$	5,875		$	5,537		$	7,796		$	5,537		$	2,259
RPG		13,616			13,916			12,328			10,043			30,587			13,616			30,587			(16,971)
Total delinquent loans - Total Company	$	21,412		$	22,092		$	19,134		$	15,918		$	36,124		$	21,412		$	36,124		$	(14,712)
NCOs (Recoveries) by Segment:
Traditional Bank	$	180		$	220		$	203		$	125		$	77		$	180		$	77		$	103
Warehouse Lending loans		—			—			—			—			—			—			—			—
Core Bank loans		180			220			203			125			77			180			77			103
Tax Refund Solutions		(305)			(1,052)			(1,968)			25,762			(285)			(305)			(285)			(20)
Republic Credit Solutions		4,175			4,267			3,121			2,787			2,866			4,175			2,866			1,309
RPG		3,870			3,215			1,153			28,549			2,581			3,870			2,581			1,289
Total NCOs (recoveries) - Total Company	$	4,050		$	3,435		$	1,356		$	28,674		$	2,658		$	4,050		$	2,658		$	1,392
Credit Quality Ratios - Total Company:
Nonperforming loans to total loans		0.41	%		0.39	%		0.38	%		0.35	%		0.35	%		0.41	%		0.35	%		0.06	%
Nonperforming assets to total loans (including OREO)		0.44			0.42			0.41			0.38			0.38			0.44			0.38			0.06
Nonperforming assets to total assets		0.33			0.33			0.32			0.30			0.30			0.33			0.30			0.03
Allowance for credit losses to total loans		2.08			1.57			1.47			1.43			2.01			2.08			2.01			0.07
Allowance for credit losses to nonperforming loans		509			398			389			412			579			509			579			(70)
Delinquent loans to total loans (9)		0.41			0.42			0.38			0.32			0.76			0.41			0.76			(0.35)
NCOs (recoveries) to average loans (annualized)		0.30			0.27			0.11			2.34			0.23			0.30			0.23			0.07
Credit Quality Ratios - Core Bank:
Nonperforming loans to total loans		0.38	%		0.39	%		0.37	%		0.34	%		0.34	%		0.38	%		0.34	%		0.04	%
Nonperforming assets to total loans (including OREO)		0.41			0.41			0.39			0.37			0.38			0.41			0.38			0.03
Nonperforming assets to total assets		0.33			0.35			0.33			0.32			0.32			0.33			0.32			0.01
Allowance for credit losses to total loans		1.20			1.21			1.17			1.15			1.22			1.20			1.22			(0.02)
Allowance for credit losses to nonperforming loans		313			313			320			336			356			313			356			(43)
Delinquent loans to total loans		0.15			0.16			0.14			0.12			0.12			0.15			0.12			0.03
Annualized NCOs (recoveries) to average loans		0.01			0.02			0.02			0.01			0.01			0.01			0.01			0.00
TRS Refund Advances ("RAs")
RAs originated	$	771,091		$	103,115		$	—		$	—		$	737,047		$	771,091		$	737,047		$	34,044
Net (credit) charge to the Provision for RAs		25,718			2,877			(1,939)			(161)			21,715			25,718			21,715			4,003
RAs NCOs (recoveries)		(275)			(1,052)			(1,939)			25,636			(285)			(275)			(285)			10

S-8

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First quarter 2024 (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 March 31, 2024, the Company was divided into five reportable segments: Traditional Banking, Warehouse Lending (“Warehouse”), Tax Refund Solutions (“TRS”), Republic Payment Solutions (“RPS”), and Republic Credit Solutions (“RCS”). 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 (“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
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 2023 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

First quarter 2024 (continued)

Segment information for the quarters and years ended March 31, 2024 and 2023 follows:

		Three Months Ended March 31, 2024
		Core Banking								Republic Processing Group
								Total			Tax			Republic			Republic
		Traditional			Warehouse			Core			Refund			Payment			Credit			Total			Total
(dollars in thousands)		Banking			Lending			Banking			Solutions			Solutions			Solutions			RPG			Company
Net interest income	$	48,259		$	2,257		$	50,516		$	30,910		$	3,508		$	11,985		$	46,403		$	96,919
Provision for expected credit loss expense		358			309			667			25,774			—			4,181			29,955			30,622
Net refund transfer fees		—			—			—			10,820			—			—			10,820			10,820
Mortgage banking income		310			—			310			—			—			—			—			310
Program fees		—			—			—			—			773			3,406			4,179			4,179
Other noninterest income		7,986			13			7,999			63			1			1			65			8,064
Total noninterest income		8,296			13			8,309			10,883			774			3,407			15,064			23,373
Total noninterest expense		41,394			878			42,272			4,512			954			3,233			8,699			50,971
Income (loss) before income tax expense		14,803			1,083			15,886			11,507			3,328			7,978			22,813			38,699
Income tax expense (benefit)		2,520			244			2,764			2,714			761			1,854			5,329			8,093
Net income (loss)	$	12,283		$	839		$	13,122		$	8,793		$	2,567		$	6,124		$	17,484		$	30,606
Period-end assets	$	5,766,166		$	463,664		$	6,229,830		$	106,401		$	406,847		$	132,514		$	645,762		$	6,875,592
Net interest margin		3.33	%		2.67	%		3.30	%		NM			5.07	%		NM			NM			5.87	%
Net-revenue concentration*		46	%		2	%		48	%		35	%		4	%		13	%		52	%		100	%

		Three Months Ended March 31, 2023
		Core Banking								Republic Processing Group
								Total			Tax			Republic			Republic
		Traditional			Warehouse			Core			Refund			Payment			Credit			Total			Total
(dollars in thousands)		Banking			Lending			Banking			Solutions			Solutions			Solutions			RPG			Company
Net interest income	$	50,168		$	2,087		$	52,255		$	28,307		$	3,458		$	8,622		$	40,387		$	92,642
Provision for expected credit loss expense		2,984			135			3,119			21,808			—			1,839			23,647			26,766
Net refund transfer fees		—			—			—			10,807			—			—			10,807			10,807
Mortgage banking income		800			—			800			—			—			—			—			800
Program fees		—			—			—			—			707			2,534			3,241			3,241
Other noninterest income		7,671			11			7,682			115			11			25			151			7,833
Total noninterest income		8,471			11			8,482			10,922			718			2,559			14,199			22,681
Total noninterest expense		43,406			968			44,374			4,782			866			2,421			8,069			52,443
Income before income tax expense		12,249			995			13,244			12,639			3,310			6,921			22,870			36,114
Income tax expense		2,713			223			2,936			2,806			735			1,545			5,086			8,022
Net income	$	9,536		$	772		$	10,308		$	9,833		$	2,575		$	5,376		$	17,784		$	28,092
Period-end assets	$	4,987,423		$	458,675		$	5,446,098		$	95,462		$	415,688		$	116,843		$	627,993		$	6,074,091
Net interest margin		4.07	%		2.53	%		3.98	%		NM			3.84	%		NM			NM			6.52	%
Net-revenue concentration*		50	%		2	%		52	%		34	%		4	%		10	%		48	%		100	%

S-10

Republic Bancorp, Inc.

Earnings Release Financial Supplement

First quarter 2024 (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										Three Months Ended				$ Change (8)
(dollars in thousands)	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Mar. 31, 2024		Mar. 31, 2023		3M to 3M
Traditional Banking	$	1,366	$	1,400	$	1,703	$	1,311	$	943	$	1,366	$	943	$	423
Warehouse Lending		263		235		254		294		248		263		248		15
Total Core Bank		1,629		1,635		1,957		1,605		1,191		1,629		1,191		438
TRS - Refund Advances		34,652		7		25		41		31,404		34,652		31,404		3,248
TRS - Other Loan Fees		1,219		1,089		6		24		933		1,219		933		286
RCS		11,372		10,514		9,763		8,416		7,962		11,372		7,962		3,410
Total RPG		47,243		11,610		9,794		8,481		40,299		47,243		40,299		6,944
Total loan fees - Total Company	$	48,872	$	13,245	$	11,751	$	10,086	$	41,490	$	48,872	$	41,490	$	7,382

(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 Traditional Banking segment, while consumer loans originated for sale are originated and sold through the RCS segment. Gains on sale of mortgage loans are recorded as a component of Mortgage Banking income. Gains on sale of consumer loans are recorded as a component of Program Fees.

	As of and for the Three Months Ended										As of and for the Three Months Ended				$ Change (8)
(dollars in thousands)	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Mar. 31, 2024		Mar. 31, 2023		3M to 3M
Mortgage Loans Held for Sale
Balance, beginning of period	$	3,227	$	2,711	$	4,038	$	1,034	$	1,302	$	3,227	$	1,302	$	1,925
Originations		27,046		24,050		23,860		13,948		15,942		27,046		15,942		11,104
Transferred from held for investment to held for sale		69,464		—		—		—		—		69,464		—		69,464
Proceeds from sales		(18,773)		(24,134)		(25,681)		(11,483)		(16,630)		(18,773)		(16,630)		(2,143)
Fair value adjustment for correspondent loans reclassified to held for sale		(997)		—		—		—		—		(997)		—		(997)
Net gain on sale		917		600		494		539		420		917		420		497
Balance, end of period	$	80,884	$	3,227	$	2,711	$	4,038	$	1,034	$	80,884	$	1,034	$	79,850
RCS Consumer Loans Held for Sale
Balance, beginning of period	$	24,008	$	21,972	$	21,544	$	17,432	$	17,875	$	24,008	$	17,875	$	6,133
Originations		188,347		300,281		287,088		262,404		207,222		188,347		207,222		(18,875)
Proceeds from sales		(196,584)		(302,118)		(289,997)		(261,301)		(210,199)		(196,584)		(210,199)		13,615
Net gain on sale		3,405		3,873		3,337		3,009		2,534		3,405		2,534		871
Balance, end of period	$	19,176	$	24,008	$	21,972	$	21,544	$	17,432	$	19,176	$	17,432	$	1,744

S-11

(4) The following table provides a reconciliation of total stockholders’ equity in accordance with GAAP to tangible stockholders’ equity, a non-GAAP disclosure. The Company provides the tangible book value per share, a non-GAAP measure, in addition to those defined by banking regulators, because of its widespread use by investors as a means to evaluate capital adequacy.

	As of
(dollars in thousands, except per share data)	Mar. 31, 2024			Dec. 31, 2023			Sep. 30, 2023			Jun. 30, 2023			Mar. 31, 2023
Total stockholders' equity - GAAP (a)	$	935,583		$	912,756		$	893,400		$	886,971		$	882,202
Less: Goodwill		40,516			40,516			40,516			40,516			41,618
Less: Mortgage servicing rights		7,102			7,411			7,710			7,995			8,406
Less: Core deposit intangible		2,302			2,439			2,576			2,713			2,813
Tangible stockholders' equity - Non-GAAP (c)	$	885,663		$	862,390		$	842,598		$	835,747		$	829,365
Total assets - GAAP (b)	$	6,875,592		$	6,594,891		$	6,386,475		$	6,369,779		$	6,074,091
Less: Goodwill		40,516			40,516			40,516			40,516			41,618
Less: Mortgage servicing rights		7,102			7,411			7,710			7,995			8,406
Less: Core deposit intangible		2,302			2,439			2,576			2,713			2,813
Tangible assets - Non-GAAP (d)	$	6,825,672		$	6,544,525		$	6,335,673		$	6,318,555		$	6,021,254
Total stockholders' equity to total assets - GAAP (a/b)		13.61	%		13.84	%		13.99	%		13.92	%		14.52	%
Tangible stockholders' equity to tangible assets - Non-GAAP (c/d)		12.98	%		13.18	%		13.30	%		13.23	%		13.77	%
Number of shares outstanding (e)		19,411			19,358			19,453			19,606			19,758
Book value per share - GAAP (a/e)	$	48.20		$	47.15		$	45.93		$	45.24		$	44.65
Tangible book value per share - Non-GAAP (c/e)		45.63			44.55			43.31			42.63			41.98

(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 BOLI benefit payment received, as well as net gains (losses) on sales, calls, and impairment of investment securities.

	Three Months Ended															Three Months Ended
(dollars in thousands)	Mar. 31, 2024			Dec. 31, 2023			Sep. 30, 2023			Jun. 30, 2023			Mar. 31, 2023			Mar. 31, 2024			Mar. 31, 2023
Net interest income - GAAP	$	96,919		$	66,782		$	64,825		$	64,529		$	92,642		$	96,919		$	92,642
Noninterest income - GAAP		23,373			14,780			14,345			19,651			22,681			23,373			22,681
Less: BOLI benefit payment received		—			—			—			1,728			—			—			—
Less: Net gain (loss) on securities		—			6			2			3			1			—			1
Total adjusted income - Non-GAAP (a)	$	120,292		$	81,556		$	79,168		$	82,449		$	115,322		$	120,292		$	115,322
Noninterest expense - GAAP	$	50,971		$	47,054		$	48,368		$	51,533		$	52,443		$	50,971		$	52,443
Less: Merger expenses related to CBank acquisition		41			92			(132)			127			2,073			41			2,073
Adjusted noninterest expense - Non-GAAP (b)	$	50,930		$	46,962		$	48,500		$	51,406		$	50,370		$	50,930		$	50,370
Efficiency Ratio - Non-GAAP (b/a)		42	%		58	%		61	%		62	%		44	%		42	%		44	%

(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 March 31, 2024, included $0 of Refund Advances (“RA”), which do not have a contractual due date, but the Company considered an RA delinquent in 2024 if it remained unpaid 35 days after the taxpayer’s tax return was submitted to the applicable taxing authority.

(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

S-12

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.

	Year Ended
(dollars in thousands)	Mar. 31, 2024		Mar. 31, 2023			$ Change	% Change
Net income - GAAP	$	30,606	$	28,092	$	2,514	9	%
Add: Expenses related to CBank acquisition		41		2,073		(2,032)	NM
Add: Provision expense related to CBank acquisition		—		2,689		(2,689)	NM
Subtotal: Adjusted Items	$	41	$	4,762	$	(4,721)	NM
Add: Applicable Income Tax Impact on the above items		(9)		(1,360)		1,351	NM
Total adjusted net income - Non-GAAP (a)	$	30,638	$	31,494	$	(856)	(3)	%

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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