SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2020

SEGMENT INFORMATION

Segment Information

	Three Months Ended June 30, 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	$	39,035		$	6,063		$	419		$	45,517		$	1,081		$	5,607		$	6,688		$	52,205
Provision for expected credit loss expense		3,080			449			—			3,529			4,448			(1,443)			3,005			6,534
Net refund transfer fees		—			—			—			—			2,913			—			2,913			2,913
Mortgage banking income		—			—			8,398			8,398			—			—			—			8,398
Program fees		—			—			—			—			618			520			1,138			1,138
Other noninterest income		6,126			17			8			6,151			151			—			151			6,302
Total noninterest income		6,126			17			8,406			14,549			3,682			520			4,202			18,751
Total noninterest expense		36,688			811			2,689			40,188			3,734			903			4,637			44,825
Income (loss) before income tax expense		5,393			4,820			6,136			16,349			(3,419)			6,667			3,248			19,597
Income tax expense (benefit)		729			1,085			1,288			3,102			(853)			1,544			691			3,793
Net income (loss)	$	4,664		$	3,735		$	4,848		$	13,247		$	(2,566)		$	5,123		$	2,557		$	15,804
Period-end assets	$	4,967,759		$	1,028,400		$	54,518		$	6,050,677		$	306,583		$	103,315		$	409,898		$	6,460,575
Net interest margin		3.26	%		3.01	%		NM			3.23	%		NM			NM			NM			3.62	%
Net-revenue concentration*		63	%		9	%		12	%		84	%		7	%		9	%		16	%		100	%

	Three Months Ended June 30, 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	$	41,877		$	3,957		$	170		$	46,004		$	710		$	7,232		$	7,942		$	53,946
Provision for expected credit loss expense		1,427			417			—			1,844			392			2,224			2,616			4,460
Net refund transfer fees		—			—			—			—			3,629			—			3,629			3,629
Mortgage banking income		—			—			2,416			2,416			—			—			—			2,416
Program fees		—			—			—			—			50			987			1,037			1,037
Other noninterest income		7,853			13			56			7,922			89			32			121			8,043
Total noninterest income		7,853			13			2,472			10,338			3,768			1,019			4,787			15,125
Total noninterest expense		37,764			792			1,354			39,910			2,849			669			3,518			43,428
Income before income tax expense		10,539			2,761			1,288			14,588			1,237			5,358			6,595			21,183
Income tax expense		744			621			270			1,635			288			1,253			1,541			3,176
Net income	$	9,795		$	2,140		$	1,018		$	12,953		$	949		$	4,105		$	5,054		$	18,007
Period-end assets	$	4,805,449		$	738,300		$	20,568		$	5,564,317		$	36,834		$	121,983		$	158,817		$	5,723,134
Net interest margin		3.75	%		2.49	%		NM			3.62	%		NM			NM			NM			4.12	%
Net-revenue concentration*		72	%		6	%		4	%		82	%		6	%		12	%		18	%		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.

	Six Months Ended June 30, 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	$	79,656		$	10,370		$	632		$	90,658		$	21,606		$	12,679		$	34,285		$	124,943
Provision for expected credit loss expense		8,669			781			—			9,450			19,581			263			19,844			29,294
Net refund transfer fees		—			—			—			—			18,736			—			18,736			18,736
Mortgage banking income		—			—			13,193			13,193			—			—			—			13,193
Program fees		—			—			—			—			930			2,832			3,762			3,762
Net gain on branch divestiture		—			—			—			—			—			—			—			—
Other noninterest income		13,361			28			32			13,421			208			—			208			13,629
Total noninterest income		13,361			28			13,225			26,614			19,874			2,832			22,706			49,320
Total noninterest expense		73,335			1,614			4,685			79,634			10,363			1,797			12,160			91,794
Income before income tax expense		11,013			8,003			9,172			28,188			11,536			13,451			24,987			53,175
Income tax expense		1,189			1,801			1,926			4,916			2,644			3,114			5,758			10,674
Net income	$	9,824		$	6,202		$	7,246		$	23,272		$	8,892		$	10,337		$	19,229		$	42,501
Period-end assets	$	4,967,759		$	1,028,400		$	54,518		$	6,050,677		$	306,583		$	103,315		$	409,898		$	6,460,575
Net interest margin		3.52	%		2.86	%		NM			3.43	%		NM			NM			NM			4.55	%
Net-revenue concentration*		53	%		6	%		8	%		67	%		24	%		9	%		33	%		100	%

	Six Months Ended June 30, 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	$	83,224		$	6,852		$	272		$	90,348		$	21,148		$	14,749		$	35,897		$	126,245
Provision for expected credit loss expense		1,616			642			—			2,258			13,826			5,607			19,433			21,691
Net refund transfer fees		—			—			—			—			20,729			—			20,729			20,729
Mortgage banking income		—			—			3,955			3,955			—			—			—			3,955
Program fees		—			—			—			—			196			1,915			2,111			2,111
Other noninterest income		14,749			23			96			14,868			220			659			879			15,747
Total noninterest income		14,749			23			4,051			18,823			21,145			2,574			23,719			42,542
Total noninterest expense		73,314			1,550			2,674			77,538			9,963			1,436			11,399			88,937
Income before income tax expense		23,043			4,683			1,649			29,375			18,504			10,280			28,784			58,159
Income tax expense		2,509			1,054			346			3,909			4,318			2,409			6,727			10,636
Net income	$	20,534		$	3,629		$	1,303		$	25,466		$	14,186		$	7,871		$	22,057		$	47,523
Period-end assets	$	4,805,449		$	738,300		$	20,568		$	5,564,317		$	36,834		$	121,983		$	158,817		$	5,723,134
Net interest margin		3.81	%		2.63	%		NM			3.69	%		NM			NM			NM			4.88	%
Net-revenue concentration*		58	%		4	%		3	%		65	%		25	%		10	%		35	%		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.