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SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

SEGMENT INFORMATION

Schedule of segment information


		Three Months Ended March 31, 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		$	48,259		$	2,257			$	50,516			$	30,910		$	3,508		$	11,985			$	46,403				$	96,919

Provision for expected credit loss expense			358			309				667				25,774			—			4,181				29,955					30,622

Net refund transfer fees			—			—				—				10,820			—			—				10,820					10,820
Mortgage banking income			310			—				310				—			—			—				—					310
Program fees			—			—				—				—			773			3,406				4,179					4,179
Other noninterest income			7,986			13				7,999				63			1			1				65					8,064
Total noninterest income			8,296			13				8,309				10,883			774			3,407				15,064					23,373

Total noninterest expense			41,394			878				42,272				4,512			954			3,233				8,699					50,971

Income (loss) before income tax expense			14,803			1,083				15,886				11,507			3,328			7,978				22,813					38,699
Income tax expense (benefit)			2,520			244				2,764				2,714			761			1,854				5,329					8,093

Net income (loss)		$	12,283		$	839			$	13,122			$	8,793		$	2,567		$	6,124			$	17,484				$	30,606

Period-end assets		$	5,766,166		$	463,664			$	6,229,830			$	106,401		$	406,847		$	132,514			$	645,762				$	6,875,592

Net interest margin			3.33	%		2.67	%			3.30	%			NM			5.07	%		NM				NM					5.87	%

Net-revenue concentration*			46	%		2	%			48	%			35	%		4	%		13	%			52	%				100	%


		Three Months Ended March 31, 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		$	50,168		$	2,087			$	52,255			$	28,307		$	3,458		$	8,622			$	40,387				$	92,642

Provision for expected credit loss expense			2,984			135				3,119				21,808			—			1,839				23,647					26,766

Net refund transfer fees			—			—				—				10,807			—			—				10,807					10,807
Mortgage banking income			800			—				800				—			—			—				—					800
Program fees			—			—				—				—			707			2,534				3,241					3,241
Other noninterest income			7,671			11				7,682				115			11			25				151					7,833
Total noninterest income			8,471			11				8,482				10,922			718			2,559				14,199					22,681

Total noninterest expense			43,406			968				44,374				4,782			866			2,421				8,069					52,443

Income before income tax expense			12,249			995				13,244				12,639			3,310			6,921				22,870					36,114
Income tax expense			2,713			223				2,936				2,806			735			1,545				5,086					8,022

Net income		$	9,536		$	772			$	10,308			$	9,833		$	2,575		$	5,376			$	17,784				$	28,092

Period-end assets		$	4,987,423		$	458,675			$	5,446,098			$	95,462		$	415,688		$	116,843			$	627,993				$	6,074,091

Net interest margin			4.07	%		2.53	%			3.98	%			NM			3.84	%		NM				NM					6.52	%

Net-revenue concentration*			50	%		2	%			52	%			34	%		4	%		10	%			48	%				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.