Peer Analysis

Performance Ratios (%)	FRBK	Peer Median	Peer Average
ROAA	($0.12)	$1.02	$1.09
ROAE	($1.41)	$9.70	$10.16
Net Interest Margin	$2.85	$3.41	$3.34
Efficiency Ratio	$101.39	$60.84	$61.22
Loans / Deposits	$58.29	$98.35	$97.14
Asset Quality Ratios (%)
NPAs / Assets	0.61	0.76	0.80
NCOs / Avg Loans	0.08	0.04	0.05
Reserves / Loans	0.53	0.83	0.90
Reserves / NPAs	45.61	85.70	102.24
Capital Ratios (%)
Tier 1 Capital	11.93	12.87	14.37
Tangible Equity / Tangible Assets	7.19	9.83	10.11
Total Equity / Total Assets	7.46	10.78	11.42
Market Ratios
Price / Earnings (x)	NA	9.09	9.03
Price / Book (%)	51.25	87.41	85.05
Dividend Yield (%)	0.00	4.05	3.67

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 12/31/2019.

Peer financial data is as of 12/31/2019 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.