XML 113 R103.htm IDEA: XBRL DOCUMENT v3.22.2.2
SEGMENT INFORMATION (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
segment
Sep. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
Segment Disclosure information          
Number of reportable segments | segment     5    
Segment information          
Net interest income $ 58,036 $ 53,129 $ 171,880 $ 171,299  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 1,573 1,292 14,504 12,231  
Mortgage banking income 1,154 5,280 5,574 16,655  
Program fees 4,932 4,018 12,671 9,569  
Other noninterest income 8,368 8,247 23,775 23,346  
Total noninterest income 15,047 18,825 76,614 69,494  
Total noninterest expense 46,105 44,435 142,331 138,030  
INCOME BEFORE INCOME TAX EXPENSE 25,405 26,227 91,659 90,532  
Income (loss) before income tax expense 25,405 26,227 91,659 90,532  
Income tax expense (benefit) 5,922 6,218 20,349 20,548  
NET INCOME 19,483 20,009 71,310 69,984  
Period-end assets $ 5,999,663 $ 6,187,634 $ 5,999,663 $ 6,187,634 $ 6,093,632
Net interest margin (as percent) 4.05% 3.61% 3.95% 3.86%  
Net-revenue concentration (as percent) 100.00% 100.00% 100.00% 100.00%  
Core Banking Activities          
Segment Disclosure information          
Number of reportable segments | segment     3    
Segment information          
Net interest income $ 49,685 $ 46,841 $ 133,749 $ 139,866  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) (1,139) (267) (1,308) (656)  
Mortgage banking income 1,154 5,280 5,574 16,655  
Other noninterest income 8,306 8,182 23,376 23,042  
Total noninterest income 9,460 13,462 28,950 39,699  
Total noninterest expense 40,633 40,237 124,675 122,725  
INCOME BEFORE INCOME TAX EXPENSE 19,651 20,333 39,332 57,496  
Income (loss) before income tax expense 19,651 20,333 39,332 57,496  
Income tax expense (benefit) 4,694 4,810 8,263 12,444  
NET INCOME 14,957 15,523 31,069 45,052  
Period-end assets $ 5,494,646 $ 5,698,965 $ 5,494,646 $ 5,698,965  
Net interest margin (as percent) 3.54% 3.25% 3.16% 3.24%  
Net-revenue concentration (as percent) 81.00% 84.00% 65.00% 74.00%  
Traditional Banking          
Segment information          
Net interest income $ 46,562 $ 40,297 $ 121,868 $ 119,677  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) (753) (44) (287) (126)  
Other noninterest income 8,260 8,105 23,225 22,859  
Total noninterest income 8,260 8,105 23,225 22,861  
Total noninterest expense 37,777 35,924 114,310 110,191  
INCOME BEFORE INCOME TAX EXPENSE 17,798 12,522 31,070 32,473  
Income (loss) before income tax expense 17,798 12,522 31,070 32,473  
Income tax expense (benefit) 4,278 3,038 6,397 6,718  
NET INCOME 13,520 9,484 24,673 25,755  
Period-end assets $ 5,036,343 $ 4,907,503 $ 5,036,343 $ 4,907,503  
Net interest margin (as percent) 3.63% 3.22% 3.20% 3.21%  
Net-revenue concentration (as percent) 75.00% 67.00% 58.00% 59.00%  
Warehouse Lending          
Segment information          
Net interest income $ 3,011 $ 6,291 $ 11,412 $ 19,387  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) (386) (223) (1,021) (530)  
Other noninterest income 13 15 38 43  
Total noninterest income 13 15 38 43  
Total noninterest expense 851 1,056 2,838 3,150  
INCOME BEFORE INCOME TAX EXPENSE 2,559 5,473 9,633 16,810  
Income (loss) before income tax expense 2,559 5,473 9,633 16,810  
Income tax expense (benefit) 572 1,258 2,168 3,919  
NET INCOME 1,987 4,215 7,465 12,891  
Period-end assets $ 441,885 $ 750,266 $ 441,885 $ 750,266  
Net interest margin (as percent) 2.54% 3.51% 2.79% 3.47%  
Net-revenue concentration (as percent) 4.00% 9.00% 5.00% 8.00%  
Mortgage Banking          
Segment information          
Net interest income $ 112 $ 253 $ 469 $ 802  
Mortgage banking income 1,154 5,280 5,574 16,655  
Other noninterest income 33 62 113 140  
Total noninterest income 1,187 5,342 5,687 16,795  
Total noninterest expense 2,005 3,257 7,527 9,384  
INCOME BEFORE INCOME TAX EXPENSE (706) 2,338 (1,371) 8,213  
Income (loss) before income tax expense (706) 2,338 (1,371) 8,213  
Income tax expense (benefit) (156) 514 (302) 1,807  
NET INCOME (550) 1,824 (1,069) 6,406  
Period-end assets $ 16,418 $ 41,196 $ 16,418 $ 41,196  
Net-revenue concentration (as percent) 2.00% 8.00% 2.00% 7.00%  
Republic Processing Group          
Segment Disclosure information          
Number of reportable segments | segment     2    
Segment information          
Net interest income $ 8,351 $ 6,288 $ 38,131 $ 31,433  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 2,712 1,559 15,812 12,887  
Program fees 4,932 4,018 12,671 9,569  
Other noninterest income 62 65 399 304  
Total noninterest income 5,587 5,363 47,664 29,795  
Total noninterest expense 5,472 4,198 17,656 15,305  
INCOME BEFORE INCOME TAX EXPENSE 5,754 5,894 52,327 33,036  
Income (loss) before income tax expense 5,754 5,894 52,327 33,036  
Income tax expense (benefit) 1,228 1,408 12,086 8,104  
NET INCOME 4,526 4,486 40,241 24,932  
Period-end assets $ 505,017 $ 488,669 $ 505,017 $ 488,669  
Net-revenue concentration (as percent) 19.00% 16.00% 35.00% 26.00%  
Tax Refund Solutions          
Segment information          
Net interest income $ 1,709 $ 294 $ 18,751 $ 15,593  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) (1,296) (2,261) 6,976 7,850  
Program fees 724 762 2,187 2,373  
Other noninterest income 62 65 399 304  
Total noninterest income 1,379 2,107 37,180 22,599  
Total noninterest expense 3,248 2,966 11,926 11,965  
INCOME BEFORE INCOME TAX EXPENSE 1,136 1,696 37,029 18,377  
Income (loss) before income tax expense 1,136 1,696 37,029 18,377  
Income tax expense (benefit) 202 371 8,573 4,467  
NET INCOME 934 1,325 28,456 13,910  
Period-end assets $ 395,873 $ 365,552 $ 395,873 $ 365,552  
Net-revenue concentration (as percent) 4.00% 3.00% 23.00% 16.00%  
Republic Credit Solutions          
Segment information          
Net interest income $ 6,642 $ 5,994 $ 19,380 $ 15,840  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 4,008 3,820 8,836 5,037  
Program fees 4,208 3,256 10,484 7,196  
Total noninterest income 4,208 3,256 10,484 7,196  
Total noninterest expense 2,224 1,232 5,730 3,340  
INCOME BEFORE INCOME TAX EXPENSE 4,618 4,198 15,298 14,659  
Income (loss) before income tax expense 4,618 4,198 15,298 14,659  
Income tax expense (benefit) 1,026 1,037 3,513 3,637  
NET INCOME 3,592 3,161 11,785 11,022  
Period-end assets $ 109,144 $ 123,117 $ 109,144 $ 123,117  
Net-revenue concentration (as percent) 15.00% 13.00% 12.00% 10.00%  
Net refund transfer fees          
Segment information          
Revenue under 606 $ 593 $ 1,280 $ 16,594 $ 19,924  
Net refund transfer fees | Core Banking Activities          
Segment information          
Revenue under 606       2  
Net refund transfer fees | Traditional Banking          
Segment information          
Revenue under 606       2  
Net refund transfer fees | Republic Processing Group          
Segment information          
Revenue under 606 593 1,280 16,594 19,922  
Net refund transfer fees | Tax Refund Solutions          
Segment information          
Revenue under 606 $ 593 $ 1,280 16,594 $ 19,922  
Contract termination fee          
Segment information          
Revenue under 606     5,000    
Contract termination fee | Republic Processing Group          
Segment information          
Revenue under 606     5,000    
Contract termination fee | Tax Refund Solutions          
Segment information          
Revenue under 606     5,000    
Legal settlement          
Segment information          
Revenue under 606     13,000    
Legal settlement | Republic Processing Group          
Segment information          
Revenue under 606     13,000    
Legal settlement | Tax Refund Solutions          
Segment information          
Revenue under 606     $ 13,000