Corporate Profile

Republic Bancorp Inc. is the 4th largest bank holding company based in Michigan.

The Company provides commercial, home equity and other consumer loans, deposit products and retail banking services through 40 retail bank branches located in Michigan, Ohio and Indiana. Republic also offers residential mortgage and construction loans to homebuyers through our nationwide mortgage origination network of 134 offices in 21 states.

Shareholder Highlights

• Earnings per share increased 22% to $.96.

• Return on average equity was 16.20%.

• In September 1998, Republic Bancorp paid a 5 for 4 stock dividend, the 13th year in a row that a stock dividend has been paid.

• Republic Bancorp continued as the #1 Small Business Administration (SBA) lender in the state of Michigan for the 5th consecutive year.

• Republic Bancorp was ranked the 21st largest retail mortgage lender in the country.

• In December 1998, Republic Bancorp and D&N Financial Corporation announced the signing of a definitive agreement to merge. Subject to regulatory and shareholder approval, the merger is expected to close in the second quarter of 1999.