Schedule of segment information |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2024 | | | | Core Banking | | | Republic Processing Group | | | | | | | | | | | | | | | Total | | | Tax | | Republic | | Republic | | | | | | | | | | | | Traditional | | Warehouse | | | Core | | | Refund | | Payment | | Credit | | | Total | | | | Total | | (dollars in thousands) | | Banking | | Lending | | | Banking | | | Solutions | | Solutions | | Solutions | | | RPG | | | | Company | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest income | | $ | 51,023 | | $ | 3,580 | | | $ | 54,603 | | | $ | 440 | | $ | 2,783 | | $ | 13,479 | | | $ | 16,702 | | | | $ | 71,305 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Provision for expected credit loss expense | | | 1,489 | | | 116 | | | | 1,605 | | | | (2,310) | | | — | | | 6,365 | | | | 4,055 | | | | | 5,660 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net refund transfer fees | | | — | | | — | | | | — | | | | 582 | | | — | | | — | | | | 582 | | | | | 582 | | Mortgage banking income | | | 2,062 | | | — | | | | 2,062 | | | | — | | | — | | | — | | | | — | | | | | 2,062 | | Program fees | | | — | | | — | | | | — | | | | — | | | 786 | | | 4,176 | | | | 4,962 | | | | | 4,962 | | Other noninterest income | | | 9,016 | | | 16 | | | | 9,032 | | | | 27 | | | 147 | | | 1 | | | | 175 | | | | | 9,207 | | Total noninterest income | | | 11,078 | | | 16 | | | | 11,094 | | | | 609 | | | 933 | | | 4,177 | | | | 5,719 | | | | | 16,813 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total noninterest expense | | | 41,266 | | | 889 | | | | 42,155 | | | | 2,251 | | | 947 | | | 3,256 | | | | 6,454 | | | | | 48,609 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income (loss) before income tax expense | | | 19,346 | | | 2,591 | | | | 21,937 | | | | 1,108 | | | 2,769 | | | 8,035 | | | | 11,912 | | | | | 33,849 | | Income tax expense (benefit) | | | 4,189 | | | 584 | | | | 4,773 | | | | 189 | | | 595 | | | 1,749 | | | | 2,533 | | | | | 7,306 | | | | | | | | | | | | | | | | | | | | | | | | | | — | | | | | | | Net income (loss) | | $ | 15,157 | | $ | 2,007 | | | $ | 17,164 | | | $ | 919 | | $ | 2,174 | | $ | 6,286 | | | $ | 9,379 | | | | $ | 26,543 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Period-end assets | | $ | 5,559,357 | | $ | 595,624 | | | $ | 6,154,981 | | | $ | 26,503 | | $ | 367,857 | | $ | 143,129 | | | $ | 537,489 | | | | $ | 6,692,470 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest margin | | | 3.61 | % | | 2.70 | % | | | 3.53 | % | | | NM | | | 4.91 | % | | NM | | | | NM | | | | | 4.49 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net-revenue concentration* | | | 71 | % | | 4 | % | | | 75 | % | | | 1 | % | | 4 | % | | 20 | % | | | 25 | % | | | | 100 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2023 | | | | Core Banking | | | Republic Processing Group | | | | | | | | | | | | | | | Total | | | Tax | | Republic | | Republic | | | | | | | | | | | | Traditional | | Warehouse | | | Core | | | Refund | | Payment | | Credit | | | Total | | | | Total | | (dollars in thousands) | | Banking | | Lending | | | Banking | | | Solutions | | Solutions | | Solutions | | | RPG | | | | Company | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest income | | $ | 47,493 | | $ | 2,467 | | | $ | 49,960 | | | $ | 401 | | $ | 4,124 | | $ | 10,340 | | | $ | 14,865 | | | | $ | 64,825 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Provision for expected credit loss expense | | | 1,567 | | | (203) | | | | 1,364 | | | | (1,967) | | | — | | | 4,333 | | | | 2,366 | | | | | 3,730 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net refund transfer fees | | | — | | | — | | | | — | | | | 242 | | | — | | | — | | | | 242 | | | | | 242 | | Mortgage banking income | | | 852 | | | — | | | | 852 | | | | — | | | — | | | — | | | | — | | | | | 852 | | Program fees | | | — | | | — | | | | — | | | | — | | | 705 | | | 3,336 | | | | 4,041 | | | | | 4,041 | | Death benefits in excess of cash surrender value of life insurance | | | — | | | — | | | | — | | | | — | | | — | | | — | | | | — | | | | | — | | Other noninterest income | | | 9,089 | | | 11 | | | | 9,100 | | | | 72 | | | 10 | | | 28 | | | | 110 | | | | | 9,210 | | Total noninterest income | | | 9,941 | | | 11 | | | | 9,952 | | | | 314 | | | 715 | | | 3,364 | | | | 4,393 | | | | | 14,345 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total noninterest expense | | | 41,500 | | | 640 | | | | 42,140 | | | | 2,242 | | | 874 | | | 3,112 | | | | 6,228 | | | | | 48,368 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income before income tax expense | | | 14,367 | | | 2,041 | | | | 16,408 | | | | 440 | | | 3,965 | | | 6,259 | | | | 10,664 | | | | | 27,072 | | Income tax expense | | | 2,757 | | | 456 | | | | 3,213 | | | | 22 | | | 874 | | | 1,392 | | | | 2,288 | | | | | 5,501 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | | $ | 11,610 | | $ | 1,585 | | | $ | 13,195 | | | $ | 418 | | $ | 3,091 | | $ | 4,867 | | | $ | 8,376 | | | | $ | 21,571 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Period-end assets | | $ | 5,390,105 | | $ | 458,542 | | | $ | 5,848,647 | | | $ | 32,747 | | $ | 370,986 | | $ | 134,095 | | | $ | 537,828 | | | | $ | 6,386,475 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest margin | | | 3.52 | % | | 2.33 | % | | | 3.43 | % | | | NM | | | 4.97 | % | | NM | | | | NM | | | | | 4.35 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net-revenue concentration* | | | 73 | % | | 3 | % | | | 76 | % | | | 1 | % | | 6 | % | | 17 | % | | | 24 | % | | | | 100 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
* Net revenue represents net interest income plus total noninterest income. Net-revenue concentration equals segment-level net revenue divided by total Company net revenue. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2024 | | | | Core Banking | | | Republic Processing Group | | | | | | | | | | | | | | | Total | | | Tax | | Republic | | Republic | | | | | | | | | | | | Traditional | | Warehouse | | | Core | | | Refund | | Payment | | Credit | | | Total | | | | Total | | (dollars in thousands) | | Banking | | Lending | | | Banking | | | Solutions | | Solutions | | Solutions | | | RPG | | | | Company | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest income | | $ | 149,197 | | $ | 8,751 | | | $ | 157,948 | | | $ | 32,173 | | $ | 9,221 | | $ | 37,418 | | | $ | 78,812 | | | | $ | 236,760 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Provision for expected credit loss expense | | | 2,762 | | | 639 | | | | 3,401 | | | | 22,282 | | | — | | | 15,742 | | | | 38,024 | | | | | 41,425 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net refund transfer fees | | | — | | | — | | | | — | | | | 15,213 | | | — | | | — | | | | 15,213 | | | | | 15,213 | | Mortgage banking income | | | 3,984 | | | — | | | | 3,984 | | | | — | | | — | | | — | | | | — | | | | | 3,984 | | Program fees | | | — | | | — | | | | — | | | | — | | | 2,319 | | | 11,220 | | | | 13,539 | | | | | 13,539 | | Other noninterest income | | | 25,437 | | | 42 | | | | 25,479 | | | | 165 | | | 149 | | | 3 | | | | 317 | | | | | 25,796 | | Total noninterest income | | | 29,421 | | | 42 | | | | 29,463 | | | | 15,378 | | | 2,468 | | | 11,223 | | | | 29,069 | | | | | 58,532 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total noninterest expense | | | 124,372 | | | 2,694 | | | | 127,066 | | | | 8,787 | | | 2,919 | | | 10,442 | | | | 22,148 | | | | | 149,214 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income (loss) before income tax expense | | | 51,484 | | | 5,460 | | | | 56,944 | | | | 16,482 | | | 8,770 | | | 22,457 | | | | 47,709 | | | | | 104,653 | | Income tax expense (benefit) | | | 10,417 | | | 1,231 | | | | 11,648 | | | | 3,699 | | | 1,930 | | | 5,021 | | | | 10,650 | | | | | 22,298 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income (loss) | | $ | 41,067 | | $ | 4,229 | | | $ | 45,296 | | | $ | 12,783 | | $ | 6,840 | | $ | 17,436 | | | $ | 37,059 | | | | $ | 82,355 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Period-end assets | | $ | 5,559,357 | | $ | 595,624 | | | $ | 6,154,981 | | | $ | 26,503 | | $ | 367,857 | | $ | 143,129 | | | $ | 537,489 | | | | $ | 6,692,470 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest margin | | | 3.49 | % | | 2.64 | % | | | 3.43 | % | | | NM | | | 5.01 | % | | NM | | | | NM | | | | | 4.92 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net-revenue concentration* | | | 61 | % | | 3 | % | | | 64 | % | | | 16 | % | | 4 | % | | 16 | % | | | 36 | % | | | | 100 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2023 | | | | Core Banking | | | Republic Processing Group | | | | | | | | | | | | | | | Total | | | Tax | | Republic | | Republic | | | | | | | | | | | | Traditional | | Warehouse | | | Core | | | Refund | | Payment | | Credit | | | Total | | | | Total | | (dollars in thousands) | | Banking | | Lending | | | Banking | | | Solutions | | Solutions | | Solutions | | | RPG | | | | Company | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest income | | $ | 146,404 | | $ | 7,196 | | | $ | 153,600 | | | $ | 28,778 | | $ | 11,522 | | $ | 28,096 | | | $ | 68,396 | | | | $ | 221,996 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Provision for expected credit loss expense | | | 6,411 | | | 134 | | | | 6,545 | | | | 19,622 | | | — | | | 10,468 | | | | 30,090 | | | | | 36,635 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net refund transfer fees | | | — | | | — | | | | — | | | | 15,528 | | | — | | | — | | | | 15,528 | | | | | 15,528 | | Mortgage banking income | | | 2,559 | | | — | | | | 2,559 | | | | — | | | — | | | — | | | | — | | | | | 2,559 | | Program fees | | | — | | | — | | | | — | | | | — | | | 2,140 | | | 8,881 | | | | 11,021 | | | | | 11,021 | | Death benefits in excess of cash surrender value of life insurance | | | 1,728 | | | — | | | | 1,728 | | | | — | | | — | | | — | | | | — | | | | | 1,728 | | Other noninterest income | | | 25,389 | | | 33 | | | | 25,422 | | | | 314 | | | 12 | | | 93 | | | | 419 | | | | | 25,841 | | Total noninterest income | | | 29,676 | | | 33 | | | | 29,709 | | | | 15,842 | | | 2,152 | | | 8,974 | | | | 26,968 | | | | | 56,677 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total noninterest expense | | | 129,381 | | | 2,616 | | | | 131,997 | | | | 9,184 | | | 2,723 | | | 8,440 | | | | 20,347 | | | | | 152,344 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income before income tax expense | | | 40,288 | | | 4,479 | | | | 44,767 | | | | 15,814 | | | 10,951 | | | 18,162 | | | | 44,927 | | | | | 89,694 | | Income tax expense | | | 8,119 | | | 1,001 | | | | 9,120 | | | | 3,401 | | | 2,427 | | | 4,031 | | | | 9,859 | | | | | 18,979 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | | $ | 32,169 | | $ | 3,478 | | | $ | 35,647 | | | $ | 12,413 | | $ | 8,524 | | $ | 14,131 | | | $ | 35,068 | | | | $ | 70,715 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Period-end assets | | $ | 5,390,105 | | $ | 458,542 | | | $ | 5,848,647 | | | $ | 32,747 | | $ | 370,986 | | $ | 134,095 | | | $ | 537,828 | | | | $ | 6,386,475 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net interest margin | | | 3.78 | % | | 2.37 | % | | | 3.68 | % | | | NM | | | 4.43 | % | | NM | | | | NM | | | | | 5.09 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net-revenue concentration* | | | 63 | % | | 3 | % | | | 66 | % | | | 16 | % | | 5 | % | | 13 | % | | | 34 | % | | | | 100 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
* Net revenue represents net interest income plus total noninterest income. Net-revenue concentration equals segment-level net revenue divided by total Company net revenue.
|