Peer Analysis

Performance Ratios (%)	FRBK	Peer Median	Peer Average
ROAA	0.28	1.08	1.13
ROAE	3.05	9.92	10.47
Net Interest Margin	3.10	3.43	3.41
Efficiency Ratio	87.04	60.85	61.16
Loans / Deposits	59.59	95.45	95.34
Asset Quality Ratios (%)
NPAs / Assets	0.76	0.81	0.82
NCOs / Avg Loans	0.07	0.05	0.09
Reserves / Loans	0.53	0.89	0.89
Reserves / NPAs	37.09	84.09	95.06
Capital Ratios (%)
Tier 1 Capital	13.97	12.64	14.49
Tangible Equity / Tangible Assets	8.54	9.47	10.05
Total Equity / Total Assets	8.85	10.34	11.36
Market Ratios
Price / Earnings (x)	39.23	13.23	12.99
Price / Book (%)	120.81	120.48	128.13
Dividend Yield (%)	0.00	2.67	2.43

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 Financial Corporation (UVSP)

Republic First Bancorp, Inc.'s financial data is as of 3/31/2019.

Peer financial data is as of 3/31/2019 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.