Republic Bancorp 10-Q 2003 Q2 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						Six Months Ended
(in thousands)			June 30,						June 30,
			2003			2002			2003			2002
Including Interest on Deposits:
Fixed charges:
	Total interest expense		$	29,902		$	33,815		$	60,052		$	69,688
	Interest portion of rent expense			185			184			381			368
	Dividends on trust preferred securities and preferred stock of subsidiary			1,075			1,755			2,150			3,511
		Fixed charges including interest on deposits	$	31,162		$	35,754		$	62,583		$	73,567
Earnings:
	Net income		$	15,158		$	14,534		$	30,311		$	28,652
	Income taxes			6,503			6,487			13,354			12,655
	Fixed charges, as above			31,162			35,754			62,583			73,567
		Earnings for purposes of calculation	$	52,823		$	56,775		$	106,248		$	114,874
Ratio of earnings to combined fixed charges and dividends on trust preferred securities and preferred stock of subsidiary including interest on deposits				1.70	x		1.59	x		1.70	x		1.56
Excluding Interest on Deposits:
Fixed charges:
	Total interest expense excluding interest on deposits		$	15,470		$	14,751		$	30,126		$	29,984
	Interest portion of rent expense			185			184			381			368
	Dividends on trust preferred securities and preferred stock of subsidiary			1,075			1,755			2,150			3,511
		Fixed charges excluding interest on deposits	$	16,730		$	16,690		$	32,657		$	33,863
Earnings:
	Net income		$	15,158		$	14,534		$	30,311		$	28,652
	Income taxes			6,503			6,487			13,354			12,655
	Fixed charges, as above			16,730			16,690			32,657			33,863
		Earnings for purposes of calculation	$	38,391		$	37,711		$	76,322		$	75,170
Ratio of earnings to combined fixed charges and dividends on trust preferred securities and preferred stock of stock of subsidiary excluding interest on deposits				2.29	x		2.26	x		2.34	x		2.22	x

EXHIBIT (12)

Page 2

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

			Three Months Ended						Six Months Ended
(in thousands)			June 30,						June 30,
			2003			2002			2003			2002
Including Interest on Deposits:
Fixed charges:
	Total interest expense		$	29,902		$	33,815		$	60,052		$	69,688
	Interest portion of rent expense			185			184			381			368
		Fixed charges including interest on deposits	$	30,087		$	33,999		$	60,433		$	70,056
Earnings:
	Net income		$	15,158		$	14,534		$	30,311		$	28,652
	Income taxes			6,503			6,487			13,354			12,655
	Fixed charges, as above			30,087			33,999			60,433			70,056
		Earnings for purposes of calculation	$	51,748		$	55,020		$	104,098		$	111,363
Ratio of earnings to combined fixed charges including interest on deposits				1.72	x		1.62	x		1.72	x		1.59	x
Excluding Interest on Deposits:
Fixed charges:
	Total interest expense excluding interest on deposits		$	15,470		$	14,751		$	30,126		$	29,984
	Interest portion of rent expense			185			184			381			368
		Fixed charges excluding interest on deposits	$	15,655		$	14,935		$	30,507		$	30,352
Earnings:
	Net income		$	15,158		$	14,534		$	30,311		$	28,652
	Income taxes			6,503			6,487			13,354			12,655
	Fixed charges, as above			15,655			14,935			30,507			30,352
		Earnings for purposes of calculation	$	37,316		$	35,956		$	74,172		$	71,659
Ratio of earnings to combined fixed charges excluding interest on deposits				2.38	x		2.41	x		2.43	x		2.36	x