Peer Analysis

Performance Ratios (%)	FRBK	Peer Median	Peer Average
ROAA	$0.04	$1.04	$1.11
ROAE	$0.46	$9.58	$10.35
Net Interest Margin	$2.96	$3.41	$3.37
Efficiency Ratio	$95.93	$60.66	$61.09
Loans / Deposits	$57.28	$98.02	$96.46
Asset Quality Ratios (%)
NPAs / Assets	0.80	0.77	0.85
NCOs / Avg Loans	0.07	0.03	0.04
Reserves / Loans	0.53	0.81	0.89
Reserves / NPAs	34.16	73.76	94.36
Capital Ratios (%)
Tier 1 Capital	13.10	13.06	14.45
Tangible Equity / Tangible Assets	7.84	9.73	10.14
Total Equity / Total Assets	8.13	10.86	11.49
Market Ratios
Price / Earnings (x)	137.00	12.92	13.06
Price / Book (%)	96.41	115.86	125.64
Dividend Yield (%)	0.00	2.71	2.44

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. (RBPAA), Sun Bancorp, Inc. (SNBC), Univest Financial Corporation (UVSP)

Republic First Bancorp, Inc.'s financial data is as of 9/30/2019.

Peer financial data is as of 9/30/2019 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 12/31/2017.
Ocean Shore Holding Co.'s financial data is as of 9/30/2016.