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Republic Bank, Incorporated

Duluth, MN · Cert 22618

FDIC · 6 branches

Q3 2019

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2019, the quarter ended September 30, 2019, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Republic Bank, Incorporated

Duluth, MN · Cert 22618

FDIC · 6 branches

Q3 2019

$424.0MAssets
$374.1MLoans
$332.1MDeposits
$48.2MEquity
Loan mix
67%RE $193.4M32%C&I $93.4M1%Consumer $3.3MQ3 2018Q3 2019
Deposit mix
77%Interest-bearing $255.4M23%Noninterest $76.7MQ3 2018Q3 2019

NIM

4.33%Q3 ’174.52%Q3 ’184.90%Q3 ’19-1%+2%

Non-interest income vs. expense

2.60%Q3 ’172.60%Q3 ’182.63%Q3 ’19+0%+1%

Market Position · Duluth, MN-WI · 2019 SOD (annual) · 7.1% share · #4 of 29 inst. · $0.3B of $4.5B

8.9% St. Louis
4.5% Carlton

Executive Summary

  • Earnings: ROA of 1.02%, down 30 bps year over year; NIM at 3.86%.
  • Asset quality: problem loans at 0.00% of loans (-21 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 11.47%, up 33 bps from a year ago.
  • Funding: loans stand at 112.66% of deposits as of Q3 2019.

Financial Results

Return on Assets (YTD, annualized)

1.02%-30 bps YoY

Net Interest Margin (YTD, annualized)

3.86%+8 bps YoY

Efficiency Ratio (YTD, annualized)

63.20%-56 bps YoY

Tier 1 Leverage Ratio

11.47%+33 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2018Q4 2018Q1 2019Q2 2019Q3 2019YoY ΔTrend
Earnings
Return on Assets1.31%1.07%1.02%0.72%1.02%-30 bps
Return on Equity12.11%9.86%9.32%6.61%9.18%-293 bps
Net Interest Margin3.78%3.76%3.82%3.87%3.86%+8 bps
Efficiency Ratio63.75%69.01%62.87%73.01%63.20%-56 bps
Non-Interest Burden2.31%2.53%2.31%2.74%2.33%+2 bps
Growth
Asset Growth (YoY)5.72%7.42%6.35%4.04%0.63%-509 bps
Loan Growth (YoY)5.02%7.58%5.48%3.48%1.05%-396 bps
Deposit Growth (YoY)-1.08%1.62%5.38%6.57%6.80%+788 bps
Asset Quality
Nonperforming Loans / Loans0.21%0.00%0.00%0.00%0.00%-21 bps
Net Charge-Offs / Loans0.34%0.25%-0.01%-0.01%-0.01%-35 bps
Allowance / Loans0.84%0.85%0.89%0.91%0.92%+8 bps
Allowance Coverage of NPLs4.1xn/an/an/an/an/a
Capital
Tier 1 Leverage Ratio11.14%10.87%11.03%11.20%11.47%+33 bps
Total Risk-Based Capital12.65%12.57%13.13%13.12%13.35%+71 bps
Equity / Assets10.77%10.72%11.11%11.07%11.36%+59 bps
Liquidity & Funding
Loans / Deposits119.06%115.96%114.56%114.89%112.66%-640 bps
Liquid Assets / Assets5.91%6.18%6.61%6.26%5.87%-4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a