XML 176 R158.htm IDEA: XBRL DOCUMENT v3.25.0.1
SEGMENT INFORMATION (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Segment Disclosure information        
Number of reportable segments | segment 5      
Segment information        
Net interest income $ 312,154 $ 288,778 $ 236,691  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 54,376 47,624 22,348  
Mortgage banking income 5,438 3,542 6,196  
Program fees 17,818 15,582 16,172  
Death benefits in excess of cash surrender value of life insurance   1,728    
Other noninterest income 34,038 34,857 32,362  
Total noninterest income 72,650 71,457 89,810  
Salaries and employee benefits 118,650 115,869 111,240  
Technology, Equipment, and Communication 30,690 29,107 28,954  
Occupancy 13,856 13,967 13,014  
Marketing and development 9,439 8,446 6,875  
Other noninterest expense 30,090 32,009 27,225  
Total noninterest expense 202,725 199,398 187,308  
INCOME BEFORE INCOME TAX EXPENSE 127,703 113,213 116,845  
Income tax expense (benefit) 26,332 22,839 25,739  
DISCONTINUED OPERATIONS:        
Income tax expense     25,739  
NET INCOME 101,371 90,374 91,106  
Period-end assets 6,846,667 6,594,891 5,835,543  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 5,439,466 5,239,861 4,515,802  
Period-end deposits $ 5,210,546 $ 5,053,163 $ 4,537,845  
Net interest margin (as percent) 4.85% 4.91% 4.12%  
Net-revenue concentration (as percent) 100.00% 100.00% 100.00%  
Core Banking Activities        
Segment Disclosure information        
Number of reportable segments | segment 2      
Segment information        
Net interest income $ 215,608 $ 204,245 $ 185,791  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 3,768 8,536 312  
Mortgage banking income 5,438 3,542 6,196  
Death benefits in excess of cash surrender value of life insurance   1,728    
Other noninterest income 33,703 34,275 31,834  
Total noninterest income 39,141 39,545 38,030  
Salaries and employee benefits 103,143 100,446 95,858  
Technology, Equipment, and Communication 26,612 26,480 27,158  
Occupancy 13,458 13,591 12,657  
Marketing and development 3,617 3,193 3,798  
Other noninterest expense 26,079 27,957 23,726  
Total noninterest expense 172,909 171,667 163,197  
INCOME BEFORE INCOME TAX EXPENSE 78,072 63,587 60,312  
Income tax expense (benefit) 15,198 12,131    
DISCONTINUED OPERATIONS:        
Income tax expense     12,970  
NET INCOME 62,874 51,456 47,342  
Period-end assets 6,159,857 5,859,856 5,313,763  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 5,119,939 4,958,292 4,258,702  
Period-end deposits $ 4,606,458 $ 4,397,007 $ 4,089,721  
Net interest margin (as percent) 3.48% 3.61% 3.32%  
Net-revenue concentration (as percent) 66.00% 68.00% 69.00%  
Traditional Banking        
Segment information        
Net interest income $ 203,139 $ 194,798 $ 172,062  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 3,241 8,698 1,429  
Mortgage banking income 5,438 3,542 6,196  
Death benefits in excess of cash surrender value of life insurance   1,728    
Other noninterest income 33,641 34,231 31,784  
Total noninterest income 39,079 39,501 37,980  
Salaries and employee benefits 100,298 97,522 92,925  
Technology, Equipment, and Communication 26,467 26,393 26,958  
Occupancy 13,387 13,523 12,593  
Marketing and development 3,617 3,193 3,798  
Other noninterest expense 25,529 27,489 23,319  
Total noninterest expense 169,298 168,120 159,593  
INCOME BEFORE INCOME TAX EXPENSE 69,679 57,481 49,020  
Income tax expense (benefit) 13,306 10,766    
DISCONTINUED OPERATIONS:        
Income tax expense     10,431  
NET INCOME 56,373 46,715 38,589  
Period-end assets 5,608,110 5,519,632 4,908,711  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 4,569,179 4,618,569 3,855,142  
Period-end deposits $ 4,572,044 $ 4,362,959 $ 4,056,215  
Net interest margin (as percent) 3.55% 3.70% 3.38%  
Net-revenue concentration (as percent) 63.00% 65.00% 65.00%  
Warehouse Lending        
Segment information        
Net interest income $ 12,469 $ 9,447 $ 13,729  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 527 (162) (1,117)  
Other noninterest income 62 44 50  
Total noninterest income 62 44 50  
Salaries and employee benefits 2,845 2,924 2,933  
Technology, Equipment, and Communication 145 87 200  
Occupancy 71 68 64  
Other noninterest expense 550 468 407  
Total noninterest expense 3,611 3,547 3,604  
INCOME BEFORE INCOME TAX EXPENSE 8,393 6,106 11,292  
Income tax expense (benefit) 1,892 1,365    
DISCONTINUED OPERATIONS:        
Income tax expense     2,539  
NET INCOME 6,501 4,741 8,753  
Period-end assets 551,747 340,224 405,052  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 550,760 339,723 403,560  
Period-end deposits $ 34,414 $ 34,048 $ 33,506  
Net interest margin (as percent) 2.65% 2.38% 2.69%  
Net-revenue concentration (as percent) 3.00% 3.00% 4.00%  
Republic Processing Group        
Segment Disclosure information        
Number of reportable segments | segment 3      
Segment information        
Net interest income $ 96,546 $ 84,533 $ 50,900  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 50,608 39,088 22,036  
Program fees 17,818 15,582 16,172  
Other noninterest income 335 582 528  
Total noninterest income 33,509 31,912 51,780  
Salaries and employee benefits 15,507 15,423 15,382  
Technology, Equipment, and Communication 4,078 2,627 1,796  
Occupancy 398 376 357  
Marketing and development 5,822 5,253 3,077  
Other noninterest expense 4,011 4,052 3,499  
Total noninterest expense 29,816 27,731 24,111  
INCOME BEFORE INCOME TAX EXPENSE 49,631 49,626 56,533  
Income tax expense (benefit) 11,134 10,708    
DISCONTINUED OPERATIONS:        
Income tax expense     12,769  
NET INCOME 38,497 38,918 43,764  
Period-end assets 686,810 735,035 521,780  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 319,527 281,569 257,100  
Period-end deposits $ 604,088 $ 656,156 $ 448,124  
Net-revenue concentration (as percent) 34.00% 32.00% 31.00%  
Tax Refund Solutions        
Segment information        
Net interest income $ 34,420 $ 29,557 $ 16,896  
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 29,983 22,559 9,955  
Other noninterest income 180 341 424  
Total noninterest income 15,536 16,089 35,504  
Salaries and employee benefits 7,785 8,011 8,880  
Technology, Equipment, and Communication 430 406 429  
Occupancy 342 326 311  
Marketing and development 398 523 470  
Other noninterest expense 2,650 2,769 2,287  
Total noninterest expense 11,605 12,035 12,377  
INCOME BEFORE INCOME TAX EXPENSE 8,368 11,052 30,068  
Income tax expense (benefit) 1,970 2,196    
DISCONTINUED OPERATIONS:        
Income tax expense     6,905  
NET INCOME 6,398 8,856 23,163  
Period-end assets 217,662 228,738 46,192  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 190,794 149,207 149,272  
Period-end deposits $ 216,998 $ 228,371 $ 46,076  
Net-revenue concentration (as percent) 13.00% 13.00% 16.00%  
Republic Payment Solutions        
Segment information        
Net interest income $ 11,811 $ 15,729 $ 4,819 $ 4,819
Program fees 3,121 2,827 2,872 2,872
Other noninterest income 151 158 104  
Total noninterest income 3,272 2,985 2,976 $ 2,976
Salaries and employee benefits 3,267 3,070 2,778  
Technology, Equipment, and Communication 4 12    
Occupancy 28 25 23  
Marketing and development 95 1    
Other noninterest expense 707 602 539  
Total noninterest expense 4,101 3,710 3,340  
INCOME BEFORE INCOME TAX EXPENSE 10,982 15,004 4,455  
Income tax expense (benefit) 2,427 3,307    
DISCONTINUED OPERATIONS:        
Income tax expense     942  
NET INCOME 8,555 11,697 3,513  
Period-end assets 335,369 366,117 363,067  
Period-end deposits $ 334,989 $ 366,118 $ 363,067  
Net interest margin (as percent) 4.85% 4.59% 1.37%  
Net-revenue concentration (as percent) 4.00% 5.00% 2.00% 2.00%
Republic Credit Solutions        
Segment information        
Net interest income $ 50,315 $ 39,247 $ 29,185 $ 29,185
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 20,625 16,529 12,081  
Program fees 14,697 12,755 13,300 13,300
Other noninterest income 4 83    
Total noninterest income 14,701 12,838 13,300 $ 13,300
Salaries and employee benefits 4,455 4,342 3,724  
Technology, Equipment, and Communication 3,644 2,209 1,367  
Occupancy 28 25 23  
Marketing and development 5,329 4,729 2,607  
Other noninterest expense 654 681 673  
Total noninterest expense 14,110 11,986 8,394  
INCOME BEFORE INCOME TAX EXPENSE 30,281 23,570 22,010  
Income tax expense (benefit) 6,737 5,205    
DISCONTINUED OPERATIONS:        
Income tax expense     4,922  
NET INCOME 23,544 18,365 17,088  
Period-end assets 133,779 140,180 112,521  
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 128,733 132,362 107,828  
Period-end deposits $ 52,101 $ 61,667 $ 38,981  
Net-revenue concentration (as percent) 17.00% 14.00% 13.00% 13.00%
Net refund transfer fees        
Segment information        
Revenue under 606 $ 15,356 $ 15,748 $ 17,080  
Net refund transfer fees | Republic Processing Group        
Segment information        
Revenue under 606 15,356 15,748 17,080  
Net refund transfer fees | Tax Refund Solutions        
Segment information        
Revenue under 606 $ 15,356 15,748 17,080  
Contract termination fee        
Segment information        
Revenue under 606   1,728 5,000  
Contract termination fee | Core Banking Activities        
Segment information        
Revenue under 606   1,728    
Contract termination fee | Traditional Banking        
Segment information        
Revenue under 606   $ 1,728    
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