Republic Bancorp (RBCAA) investor relations material

Executive summary

• Net income for Q2 2025 was $31.5M, up 25% year-over-year; diluted EPS rose to $1.61 from $1.30.

• For the first six months, net income was $78.8M, a 41% increase; diluted EPS was $4.03, up from $2.87.

• All five business segments reported year-over-year net income growth for both the quarter and year-to-date.

• Return on average assets reached 1.79% and return on average equity was 11.96% for the quarter.

• New branding initiative launched in June, emphasizing community commitment.

Financial highlights

• Q2 2025 net interest income increased 11% to $76.2M; NIM rose to 4.61% from 4.36%.

• Noninterest income for Q2 was $17.6M, down 4% year-over-year, mainly due to lower refund transfer fees.

• Noninterest expense rose 4% to $51.6M, driven by higher salaries, technology, and consulting fees.

• Provision for credit losses was $1.8M in Q2, down from $5.1M in Q2 2024.

• Total assets at June 30, 2025, were $6.97B; loans were $5.37B; deposits were $5.32B.

Outlook and guidance

• Management expects continued NIM pressure if interest rates decline, with deposit mix shifts impacting funding costs.

• The largest Tax Provider contract in the TRS segment will expire in October 2025, expected to reduce segment income in 2026.

• The company is targeting a new core system launch in Q4 2025, with anticipated long-term cost savings.

• Management expects continued benefits from strategic pricing discipline and technology investments.

• Forward-looking statements highlight risks from interest rate changes and competitive deposit environment.