Republic Bancorp, Inc. · NASDAQ:RBCAA
Republic Bancorp — Raymond James 2025 U.S. Bank Conference
27 slides from Republic Bancorp's conference presentation, September 2025
Slide 1: Raymond James 2025 U.S. Bank Conference
Raymond James 2025 U.S. Bank Conference September 3 – 4, 2025 Page
Slide 2: Safe Harbor Statement
COMPANY Safe Harbor Statement During this presentation, we will be providing you with a discussion of some of the factors we currently anticipate may influence the future results of Republic Bancorp, Inc. (“Republic” or the “Company”), as well as certain financial projections. We want to emphasize t
Slide 3: Presenters: Logan Pichel and Kevin Sipes
COMPANY Logan Pichel Kevin Sipes President & CEO Executive Vice President, Republic Bank & Trust Chief Financial Officer Company Raymond James Conference | September 3-4, 2025 | Chicago, Illinois Page 3
Slide 4: Overview of Republic Bancorp
COMPANY Overview of Republic Bancorp Republic Bank & Trust Company Retail Footprint IN-3 OH-4 47 banking centers in FIVE states Bank Profile Largest market share is 8% in KY-29 TN-4 Louisville, KY MSA as of 6-30-25 (RB&T) Republic’s wholly-owned subsidiary, Ability to originate mortgage loans founde
Slide 5: 2025 Purpose Architecture
COMPANY 2025 Purpose Architecture MISSION To enable our clients, company, associates and the communities we serve to THRIVE. How we will make an IMPACT What we will PRIORITIZE How we will serve our CLIENTS Innovate for the future Create best-in-class experiences Navigate the bank for the client Make
Slide 6: Total Company Highlights – 2Q25
2Q25 Pre-Tax up $8.3 million, or 26%, vs 2Q24 COMPANY Total Company Highlights – 2Q25 Increase driven by $4.4 million increase at Traditional bank and $2.6 million increase at RCS QTD Jun Pre-Tax ($M) QTD Jun Segment Pre-Tax ($M) + $4.4 $21.7 +26% $40.4 $17.3 $32.1 + $2.6 $9.0 $6.4 $3.9 $4.2 $2.4 $2
Slide 7: 2Q25 Statements of Income & Expense
COMPANY 2Q25 Statements of Income & Expense Republic Bancorp, Inc. ($ in thousands) 6/30/2025 6/30/2024 Variance Net Interest Income $ 59,929 $ 52,829 $ 7,100 Provision for Credit Losses 772 1,129 (357) Non-Interest Income 10,469 10,060 409 Non-Interest Expense 45,584 42,639 2,945 Total Core Bank 24
Slide 8: Core Bank Highlights – 2Q25
2Q25 non-interest expense includes $182,000 of core conversion CORE expenses Core Bank Highlights – 2Q25 26 basis point increase in NIM from 2Q24 to 2Q25, driven by a notable decrease in total cost of funds QTD Jun Pre-Tax ($M) QTD Jun NII ($M) & NIM (%) QTD Jun Non Interest Expense $59.9 ($M) +26%
Slide 9: Segment Net Interest Margin
COMPANY Segment Net Interest Margin QTD YTD 6/30/2025 6/30/2024 Variance 6/30/2025 6/30/2024 Variance Total Traditional Bank 3.84% 3.53% 0.31% 3.81% 3.43% 0.38% Warehouse Lending 2.51% 2.57% -0.06% 2.59% 2.61% -0.02% Total Core Bank 3.72% 3.46% 0.26% 3.71% 3.38% 0.33% Total Company 4.61% 4.36% 0.25%
Slide 10: Total Company Highlights - YTD
Growth in Pre-Tax driven by: COMPANY Total Company Highlights - YTD • $13.9 million increase at TRS • $9.1 million increase at Traditional Bank YTD Jun Pre-Tax ($M) YTD Jun Segment Pre-Tax ($M) YTD 2024 YTD 2025 +42% $41.2 $100.4 $32.1 $29.3 $70.8 $18.5 $15.4 $14.4 $6.0 $6.8 $4.6 $2.9 Traditional Ba
Slide 11: YTD Statements of Income & Expense
COMPANY YTD Statements of Income & Expense Republic Bancorp, Inc. ($ in thousands) 6/30/2025 6/30/2024 Variance Net Interest Income $ 116,278 $ 103,345 $ 12,933 Provision for Credit Losses 50 1,796 (1,746) Non-Interest Income 25,853 18,369 7,484 Non-Interest Expense 96,362 84,910 11,452 Total Core B
Slide 12: Segment YTD Pre-Tax
COMPANY Segment YTD Pre-Tax ($ in thousands) 6/30/2025 6/30/2024 Variance % Total Traditional Bank $ 41,224 $ 32,138 $ 9,086 28.3% Warehouse Lending 4,495 2,869 1,626 56.7% Total Core Bank 45,719 35,007 10,712 30.6% Tax Refund Solutions 29,322 15,374 13,948 90.7% Republic Payment Solutions 6,821 6,0
Slide 13: Core Bank Highlights - YTD
CORE Pre-Tax positively impacted by solid growth in net interest income Core Bank Highlights - YTD Includes $4.1 million gain on sale of Visa shares and $1.6 million insurance recovery offset by $5.9 million in core conversion expenses. YTD Jun Pre-Tax ($M) YTD Jun NII ($M) YTD Jun Non Interest Expe
Slide 14: TRS Highlights
TRS YTD Pre-Tax up $13.9 million to $29.3 million vs YTD June 2024 TRS TRS Highlights Net Interest Income (includes FTP) down $1.9 million Tax Season Provision favorably lower by $7.2 million, Calendar Year Provision favorably lower by $13.1 million TRS YTD June ($M) $36.6 $33.7 $28.5 $29.3 $24.6 $2
Slide 15: Refund Advance Originations and Refund Transfers
YTD ERA volume up 24% versus 2024, overall origination volume down 8%. TRS Refund Advance (“RA”) Originations YTD Net RT Fee income up $1.8 million. YTD number of RT applications down 5.7%, YTD # of funded RTs down 4.7% and Refund Transfers (“RT”) YTD Independent Net Revenue per product increased by
Slide 16: RPS Highlights
RPS YTD Pre-Tax increased $820,000 or 14% vs YTD June 2024 RPS Highlights Largest partner missed revenue share target of 2% growth over 2024 average balances during first six months of 2025 RPS Deposits & YTD Pre-Tax ($M) YTD Net Revenue Share ($M) $6.8 +14% $6.0 $362 $368 $362 $2 $347 $0 revenue sh
Slide 17: Statements of Condition
COMPANY Statements of Condition Republic Bancorp, Inc. Jun-25 Dec-24 Variance Assets CASH & DUE FROM BANKS $ 484,808 $ 432,151 $ 52,657 LOANS, NET OF ALLOWANCE 5,291,260 5,347,488 (56,228) LOANS HELD FOR SALE 36,802 32,387 4,415 ABFS INVESTMENT 1,489 1,550 (61) INVESTMENTS 734,986 618,554 116,432 BO
Slide 18: Core Bank Loan/Deposit Highlights – 2Q25
$13 million YTD increase in Traditional Bank loans Core Bank Loan/Deposit COMPANY $5 million consumer credit card portfolio sold during May 2025 Highlights – 2Q25 June Mortgage Banking production best in two years 3% YTD deposit growth, excluding Wholesale Brokered Deposits Ending Loan Balances ($M)
Slide 19: Segment Loan Growth
COMPANY Segment Loan Growth ($ in thousands) 6/30/2025 12/31/2024 Variance Total Traditional Bank $ 4,582,152 $ 4,569,179 $ 12,973 Warehouse Lending 671,773 550,760 121,013 Total Core Bank 5,253,925 5,119,939 133,986 Tax Refund Solutions 95 190,794 (190,699) Republic Credit Solutions 119,000 128,733
Slide 20: Loan Distribution Comparison – Core Bank Spot Balances
Increased focus on C&I and Construction lending CORE Loan Distribution Comparison – Core Bank Spot Balances CRE growth, but declining portfolio % As of June 30th ($ in millions) Growth in HELOC’s 4%, AIRCRAFT, 4%, OTH, 4%, AIRCRAFT, 3%, OTH, $208 $214 $160 $119 5%, HELOC, $246 2022 - 5%, HELOC, $202
Slide 21: Transactional Deposit Growth
COMPANY Transactional Deposit Growth ($ in thousands) 6/30/2025 12/31/2024 Variance Total Traditional Bank $ 4,100,208 $ 3,999,943 $ 100,265 Warehouse Lending 37,704 34,414 3,290 Total Core Bank 4,137,912 4,034,357 103,555 Tax Refund Solutions 31,374 17,034 14,340 Republic Payment Solutions 332,244
Slide 22: Warehouse Lending
WAREHOUSE Pre-Tax increased $1.6 million over prior year including a YTD Warehouse Lending provision expense of $303 thousand vs. $523 thousand at the same point in the prior year. This is attributable to increased usage and average outstandings. Average Usage Outstandings YTD up 23% as of 6/30/2025
Slide 23: Credit Quality
CORE Credit Quality Quarter Ended (QTD) Year Ended (YTD) 6/30/2025 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2019 Non Performing Loans / Total Loans 0.41% 0.44% 0.39% 0.37% 0.47% 0.54% Non Performing Assets / Total Assets 0.35% 0.39% 0.35% 0.32% 0.40% 0.43% Delinquent Loans / Total Loans 0.1
Slide 24: Liquidity
COMPANY Liquidity Cash represents 7% of total assets compared to 6% at 6/30/2024 Cash Balances ($M) FHLB Borrowing Capacity ($M) Uninsured Deposits ($M) Free Security Collateral ($M) $848 $485 $755 $512 $432 $735 $400 $1,914 $1,869 $1,808 $394 $380 6/30/2024 12/31/2024 6/30/2025 6/30/2024 12/31/2024
Slide 25: Dividends
COMPANY Dividends 2024 Compounded Annual Growth Rate (“CAGR”) of 11.78% since 1999 $2.00 $1.80 $1.80 Regular Dividend Special Dividend CAGR = 11.78% $1.63 *Regular dividend for 2025 reflects annualized 1 st quarter 2025 dividend declared. $1.60 $1.40 $1.10 $1.20 $1.00 $0.80 $0.60 $0.40 $0.21 $0.09 $
Slide 26: Page
Raymond James Conference I September 3-4, 2025 I Chicago, Illinois Page 26
Slide 27: Thank you! Questions or Discussion
Thank you! | Questions or Discussion… Page
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