Report of Independent Auditors

We have audited, in accordance with auditing standards generally accepted in the United States, the consolidated balance sheet of Republic Bancorp Inc. and subsidiaries as of December 31, 1999, and the related statements of income, changes in shareholders’ equity, and cash flows for the year ended December 31, 1999 (not presented separately herein), and in our report dated January 14, 2000, we expressed an unqualified opinion on those consolidated financial statements.

We have previously audited and reported on the consolidated balance sheet and the related consolidated statements of income, changes in shareholders’ equity and cash flows of Republic Bancorp Inc. and subsidiaries for the year ended December 31, 1998, prior to their restatement for the 1999 pooling of interests as described in the notes to the consolidated financial statements (not presented separately herein). The contribution of Republic Bancorp Inc. to total assets, revenues and net income represented 52%, 75% and 59% of the respective restated totals. Financial statements for the other pooled company included in the 1998 restated consolidated statements were audited and reported on separately by other auditors. We have also audited, as to combination only, the consolidated balance sheet and the related statements of income, changes in shareholders’ equity and cash flows for the year ended December 31, 1998, after the restatement for the 1999 pooling of interests. In our report dated January 14, 2000, we expressed our opinion that such financial statements have been properly combined on the basis described in the notes to the consolidated financial statements.

Detroit, Michigan
January 14, 2000