Peer Analysis

Performance Ratios (%)	FRBK	Peer Median	Peer Average
ROAA	0.38	0.92	1.11
ROAE	4.00	8.92	10.14
Net Interest Margin	3.18	3.53	3.40
Efficiency Ratio	85.18	61.57	61.24
Loans / Deposits	57.44	96.64	96.21
Asset Quality Ratios (%)
NPAs / Assets	1.00	0.92	0.89
NCOs / Avg Loans	0.18	0.08	0.11
Reserves / Loans	0.57	0.89	0.89
Reserves / NPAs	30.39	79.38	93.25
Capital Ratios (%)
Tier 1 Capital	14.91	12.64	14.72
Tangible Equity / Tangible Assets	8.70	9.35	9.86
Total Equity / Total Assets	8.87	10.78	11.20
Market Ratios
Price / Earnings (x)	42.31	17.21	17.25
Price / Book (%)	168.77	129.07	133.58
Dividend Yield (%)	0.00	2.70	2.36

Data for trailing four quarters

Republic First Bancorp, Inc.'s peer group consists of the following: Bryn Mawr Bank Corporation (BMTC), Citizens & Northern Corporation (CZNC), DNB Financial Corporation (DNBF), ESSA Bancorp, Inc. (ESSA), Harleysville Financial Corporation (HARL), Ocean Shore Holding Co. (OSHC), OceanFirst Financial Corp. (OCFC), Parke Bancorp, Inc. (PKBK), Peapack-Gladstone Financial Corporation (PGC), QNB Corp. (QNBC), Royal Bancshares of Pennsylvania, Inc. (RBPA.A), Sun Bancorp, Inc. (SNBC), Univest Corporation of Pennsylvania (UVSP)

Republic First Bancorp, Inc.'s financial data is as of 9/30/2018.

Peer financial data is as of 9/30/2018 except for these companies:

Royal Bancshares of Pennsylvania, Inc.'s financial data is as of 9/30/2017.
Sun Bancorp, Inc.'s financial data is as of 9/30/2017.
Ocean Shore Holding Co.'s financial data is as of 9/30/2016.