Peer Analysis

Performance Ratios (%)	FRBK	Peer Median	Peer Average
ROAA	($0.15)	$0.95	$0.96
ROAE	($1.81)	$7.62	$9.09
Net Interest Margin	$2.80	$3.41	$3.31
Efficiency Ratio	$102.66	$61.37	$61.41
Loans / Deposits	$63.92	$99.25	$96.76
Asset Quality Ratios (%)
NPAs / Assets	0.65	0.78	0.77
NCOs / Avg Loans	0.01	0.04	0.05
Reserves / Loans	0.54	0.97	1.09
Reserves / NPAs	47.60	103.47	142.82
Capital Ratios (%)
Tier 1 Capital	11.30	12.82	14.09
Tangible Equity / Tangible Assets	7.37	9.59	9.90
Total Equity / Total Assets	7.64	10.78	11.24
Market Ratios
Price / Earnings (x)	NA	10.64	10.93
Price / Book (%)	59.52	82.17	86.93
Dividend Yield (%)	0.00	4.34	3.63

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, 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 3/31/2020.

Peer financial data is as of 3/31/2020 except for these companies:

Royal Bancshares of Pennsylvania, Inc.'s financial data is as of 9/30/2017.
DNB Financial Corporation's financial data is as of 9/30/2019.
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.