Peer Analysis

Performance Ratios (%)	FRBK	Peer Median	Peer Average
ROAA	$0.19	$1.07	$1.12
ROAE	$2.18	$9.98	$10.46
Net Interest Margin	$3.04	$3.43	$3.39
Efficiency Ratio	$90.42	$61.14	$61.18
Loans / Deposits	$59.68	$96.32	$95.95
Asset Quality Ratios (%)
NPAs / Assets	0.75	0.84	0.86
NCOs / Avg Loans	0.06	0.04	0.06
Reserves / Loans	0.53	0.78	0.88
Reserves / NPAs	36.66	66.60	92.06
Capital Ratios (%)
Tier 1 Capital	13.59	12.72	14.33
Tangible Equity / Tangible Assets	8.25	9.56	10.09
Total Equity / Total Assets	8.55	10.78	11.44
Market Ratios
Price / Earnings (x)	44.70	12.76	12.97
Price / Book (%)	104.64	117.50	126.84
Dividend Yield (%)	0.00	2.76	2.47

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

Republic First Bancorp, Inc.'s financial data is as of 6/30/2019.

Peer financial data is as of 6/30/2019 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.