SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2020

SEGMENT INFORMATION

Segment Information

	Three Months Ended March 31, 2020
	Core Banking												Republic Processing Group
										Total			Tax			Republic
	Traditional			Warehouse			Mortgage			Core			Refund			Credit			Total			Total
(dollars in thousands)	Banking			Lending			Banking			Banking			Solutions			Solutions			RPG			Company
Net interest income	$	40,620		$	4,307		$	214		$	45,141		$	20,525		$	7,072		$	27,597		$	72,738
Credit loss expense		5,589			332			—			5,921			15,133			1,706			16,839			22,760
Net refund transfer fees		—			—			—			—			15,823			—			15,823			15,823
Mortgage banking income		—			—			4,795			4,795			—			—			—			4,795
Program fees		—			—			—			—			312			2,312			2,624			2,624
Net gain on branch divestiture		—			—			—			—			—			—			—			—
Other noninterest income		7,235			11			24			7,270			57			—			57			7,327
Total noninterest income		7,235			11			4,819			12,065			16,192			2,312			18,504			30,569
Total noninterest expense		36,647			803			1,996			39,446			6,629			894			7,523			46,969
Income before income tax expense		5,619			3,183			3,037			11,839			14,955			6,784			21,739			33,578
Income tax expense		460			716			638			1,814			3,497			1,570			5,067			6,881
Net income	$	5,159		$	2,467		$	2,399		$	10,025		$	11,458		$	5,214		$	16,672		$	26,697
Period-end assets	$	4,471,235		$	851,405		$	53,298		$	5,375,938		$	240,898		$	105,197		$	346,095		$	5,722,033
Net interest margin		3.80	%		2.68	%		NM			3.65	%		NM			NM			NM			5.57	%
Net-revenue concentration*		46	%		4	%		5	%		55	%		36	%		9	%		45	%		100	%

	Three Months Ended March 31, 2019
	Core Banking												Republic Processing Group
										Total			Tax			Republic
	Traditional			Warehouse			Mortgage			Core			Refund			Credit			Total			Total
(dollars in thousands)	Banking			Lending			Banking			Banking			Solutions			Solutions			RPG			Company
Net interest income	$	41,347		$	2,895		$	102		$	44,344		$	20,438		$	7,517		$	27,955		$	72,299
Credit loss expense		189			225			—			414			13,434			3,383			16,817			17,231
Net refund transfer fees		—			—			—			—			17,100			—			17,100			17,100
Mortgage banking income		—			—			1,539			1,539			—			—			—			1,539
Program fees		—			—			—			—			146			928			1,074			1,074
Other noninterest income		6,896			10			40			6,946			131			627			758			7,704
Total noninterest income		6,896			10			1,579			8,485			17,377			1,555			18,932			27,417
Total noninterest expense		35,550			758			1,320			37,628			7,114			767			7,881			45,509
Income before income tax expense		12,504			1,922			361			14,787			17,267			4,922			22,189			36,976
Income tax expense		1,765			433			76			2,274			4,030			1,156			5,186			7,460
Net income	$	10,739		$	1,489		$	285		$	12,513		$	13,237		$	3,766		$	17,003		$	29,516
Period-end assets	$	4,471,419		$	559,545		$	17,087		$	5,048,051		$	224,485		$	93,232		$	317,717		$	5,365,768
Net interest margin		3.84	%		2.84	%		NM			3.76	%		NM			NM			NM			5.66	%
Net-revenue concentration*		48	%		3	%		2	%		53	%		38	%		9	%		47	%		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.