Republic Bancorp 10-Q 2002 Q3 Quarterly report

EXHIBIT (12)
Page 1

Republic Bancorp Inc.
Calculations of Ratios of Earnings to Combined Fixed Charges and Dividends on Trust
Preferred Securities and Preferred Stock of Subsidiary

			Three Months Ended								Nine Months Ended
(in thousands)			September 30,								September 30,
			2002			2001			2002			2001
Including Interest on Deposits:
Fixed charges:
	Total interest expense		$	33,939		$	44,497		$	103,627		$	150,327
	Interest portion of rent expense			183			177			551			668
	Dividends on trust preferred securities and preferred stock of subsidiary			1,242			681			4,753			2,042
		Fixed charges including interest on deposits	$	35,364		$	45,355		$	108,931		$	153,037
Earnings:
	Net income		$	14,283		$	13,493		$	42,935		$	35,610
	Income taxes			5,910			6,454			18,565			17,797
	Fixed charges, as above			35,364			45,355			108,931			153,037
		Earnings for purposes of calculation	$	55,557		$	65,302		$	170,431		$	206,444
Ratio of earnings to combined fixed charges and dividends on trust preferred securities and preferred stock of subsidiary including interest on deposits				1.57	x		1.44	x		1.56	x		1.35	x
Excluding Interest on Deposits:
Fixed charges:
	Total interest expense excluding interest on deposits		$	15,730		$	17,044		$	45,714		$	59,064
	Interest portion of rent expense			183			177			551			668
	Dividends on trust preferred securities and preferred stock of subsidiary			1,242			681			4,753			2,042
		Fixed charges excluding interest on deposits	$	17,155		$	17,902		$	51,018		$	61,774
Earnings:
	Net income		$	14,283		$	13,493		$	42,935		$	35,610
	Income taxes			5,910			6,454			18,565			17,797
	Fixed charges, as above			17,155			17,902			51,018			61,774
		Earnings for purposes of calculation	$	37,348		$	37,849		$	112,518		$	115,181
Ratio of earnings to combined fixed charges and dividends on trust preferred securities and preferred stock of stock of subsidiary excluding interest on deposits				2.18	x		2.11	x		2.21	x		1.86	x

EXHIBIT (12)
Page 2

Republic Bancorp Inc.
Calculations of Ratios of Earnings to Combined Fixed Charges

			Three Months Ended						Nine Months Ended
(in thousands)			September 30,						September 30,
			2002			2001			2002			2001
Including Interest on Deposits:
Fixed charges:
	Total interest expense		$	33,939		$	44,497		$	103,627		$	150,327
	Interest portion of rent expense			183			177			551			668
		Fixed charges including interest on deposits	$	34,122		$	44,674		$	104,178		$	150,995
Earnings:
	Net income		$	14,283		$	13,493		$	42,935		$	35,610
	Income taxes			5,910			6,454			18,565			17,797
	Fixed charges, as above			34,122			44,674			104,178			150,995
		Earnings for purposes of calculation	$	54,315		$	64,621		$	165,678		$	204,402
Ratio of earnings to combined fixed charges including interest on deposits				1.59	x		1.45	x		1.59	x		1.35	x
Excluding Interest on Deposits:
Fixed charges:
	Total interest expense excluding interest on deposits		$	15,730		$	17,044		$	45,714		$	59,064
	Interest portion of rent expense			183			177			551			668
		Fixed charges excluding interest on deposits	$	15,913		$	17,221		$	46,265		$	59,732
Earnings:
	Net income		$	14,283		$	13,493		$	42,935		$	35,610
	Income taxes			5,910			6,454			18,565			17,797
	Fixed charges, as above			15,913			17,221			46,265			59,732
		Earnings for purposes of calculation	$	36,106		$	37,168		$	107,765		$	113,139
Ratio of earnings to combined fixed charges excluding interest on deposits				2.27	x		2.16	x		2.33	x		1.89	x