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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

SEGMENT INFORMATION

Schedule of segment information


		Three Months Ended September 30, 2025
		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		$	57,424		$	3,805			$	61,229			$	280		$	3,193		$	12,268			$	15,741				$	76,970

Provision for expected credit loss expense			(325)			(154)				(479)				(1,467)			—			3,969				2,502					2,023

Net refund transfer fees			—			—				—				1,117			—			—				1,117					1,117
Mortgage banking income			2,064			—				2,064				—			—			—				—					2,064
Program fees			—			—				—				—			781			4,107				4,888					4,888
Other noninterest income (1)			8,438			21				8,459				38			1			1				40					8,499
Total noninterest income			10,502			21				10,523				1,155			782			4,108				6,045					16,568

Salaries and employee benefits			26,446			719				27,165				1,855			916			1,091				3,862					31,027
Technology, Equipment, and Communication			7,556			48				7,604				96			26			984				1,106					8,710
Occupancy			3,442			34				3,476				61			5			5				71					3,547
Marketing and development			1,614			—				1,614				47			—			1,007				1,054					2,668
Core conversion and contract consulting fees			97			—				97				—			—			—				—					97
Other noninterest expense (2)			7,039			144				7,183				289			158			74				521					7,704
Total noninterest expense			46,194			945				47,139				2,348			1,105			3,161				6,614					53,753

Income (loss) before income tax expense			22,057			3,035				25,092				554			2,870			9,246				12,670					37,762
Income tax expense (benefit)			4,591			684				5,275				95			624			2,024				2,743					8,018

Net income (loss)		$	17,466		$	2,351			$	19,817			$	459		$	2,246		$	7,222			$	9,927				$	29,744

Period-end assets		$	5,952,561		$	610,155			$	6,562,716			$	22,673		$	310,220		$	119,310			$	452,203				$	7,014,919

Period-end loans		$	4,558,306		$	609,826				5,168,132			$	292		$	—		$	112,950			$	113,242				$	5,281,374

Period-end deposits		$	4,909,513		$	36,568				4,946,081			$	22,612		$	310,220		$	59,432			$	392,264				$	5,338,345

Net interest margin			3.89	%		2.62	%			3.78	%			NM			4.06	%		NM				NM					4.65	%

Net-revenue concentration*			72	%		4	%			76	%			2	%		4	%		18	%			24	%				100	%


		Three Months Ended September 30, 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		$	51,023		$	3,580			$	54,603			$	440		$	2,783		$	13,479			$	16,702				$	71,305

Provision for expected credit loss expense			1,489			116				1,605				(2,310)			—			6,365				4,055					5,660

Net refund transfer fees			—			—				—				582			—			—				582					582
Mortgage banking income			2,062			—				2,062				—			—			—				—					2,062
Program fees			—			—				—				—			786			4,176				4,962					4,962
Other noninterest income (1)			9,016			16				9,032				27			147			1				175					9,207
Total noninterest income			11,078			16				11,094				609			933			4,177				5,719					16,813

Salaries and employee benefits			24,564			697				25,261				1,744			756			1,031				3,531					28,792
Technology, Equipment, and Communication			6,423			44				6,467				78			—			999				1,077					7,544
Occupancy			3,085			40				3,125				85			7			7				99					3,224
Marketing and development			642			—				642				165			—			1,176				1,341					1,983
Other noninterest expense (2)			6,552			108				6,660				179			184			43				406					7,066
Total noninterest expense			41,266			889				42,155				2,251			947			3,256				6,454					48,609

Income before income tax expense			19,346			2,591				21,937				1,108			2,769			8,035				11,912					33,849
Income tax expense			4,189			584				4,773				189			595			1,749				2,533					7,306

Net income		$	15,157		$	2,007			$	17,164			$	919		$	2,174		$	6,286			$	9,379				$	26,543

Period-end assets		$	5,559,357		$	595,624			$	6,154,981			$	26,503		$	367,857		$	143,129			$	537,489				$	6,692,470

Period-end loans		$	4,566,896		$	595,163			$	5,162,059			$	302		$	—		$	134,556			$	134,858				$	5,296,917

Period-end deposits		$	4,616,573		$	37,015			$	4,653,588			$	26,412		$	367,432		$	54,264			$	448,108				$	5,101,696

Net interest margin			3.61	%		2.70	%			3.53	%			NM			4.91	%		NM				NM					4.49	%

Net-revenue concentration*			71	%		4	%			75	%			1	%		4	%		20	%			25	%				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.

(1) Other noninterest income includes Service charges on deposit accounts, Interchange fee income, Increase in cash surrender value of BOLI, Net losses on OREO and Other noninterest income.

(2) Other noninterest expense includes FDIC insurance expense, Interchange related expense, Legal and professional fees, and Other noninterest expense.

NM – Not Meaningful


		Nine Months Ended September 30, 2025
		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		$	167,125		$	10,382			$	177,507			$	30,154		$	10,750		$	37,449			$	78,353				$	255,860

Provision for expected credit loss expense			(577)			148				(429)				10,028			—			11,919				21,947					21,518

Net refund transfer fees			—			—				—				17,577			—			—				17,577					17,577
Mortgage banking income			5,781			—				5,781				—			—			—				—					5,781
Program fees			—			—				—				—			2,283			10,878				13,161					13,161
Gain on sale of Visa Class B-1 shares			4,090			—				4,090				—			—			—				—					4,090
Other noninterest income (1)			26,441			64				26,505				248			2			2				252					26,757
Total noninterest income			36,312			64				36,376				17,825			2,285			10,880				30,990					67,366

Salaries and employee benefits			78,570			2,147				80,717				6,016			2,818			3,346				12,180					92,897
Technology, Equipment, and Communication			22,430			128				22,558				413			70			2,996				3,479					26,037
Occupancy			10,196			94				10,290				182			15			15				212					10,502
Marketing and development			3,052			—				3,052				225			—			2,021				2,246					5,298
Core conversion and contract consulting fees			5,993			—				5,993				—			—			—				—					5,993
Other noninterest expense (2)			20,492			399				20,891				1,239			441			296				1,976					22,867
Total noninterest expense			140,733			2,768				143,501				8,075			3,344			8,674				20,093					163,594

Income (loss) before income tax expense			63,281			7,530				70,811				29,876			9,691			27,736				67,303					138,114
Income tax expense (benefit)			13,247			1,697				14,944				6,494			2,109			6,071				14,674					29,618

Net income (loss)		$	50,034		$	5,833			$	55,867			$	23,382		$	7,582		$	21,665			$	52,629				$	108,496

Period-end assets		$	5,952,561		$	610,155			$	6,562,716			$	22,673		$	310,220		$	119,310			$	452,203				$	7,014,919

Period-end loans		$	4,558,306		$	609,826				5,168,132			$	292		$	—		$	112,950			$	113,242				$	5,281,374

Period-end deposits		$	4,909,513		$	36,568			$	4,946,081			$	22,612		$	310,220		$	59,432			$	392,264				$	5,338,345

Net interest margin			3.84	%		2.60	%			3.73	%			NM			4.31	%		NM				NM					5.18	%

Net-revenue concentration*			63	%		3	%			66	%			15	%		4	%		15	%			34	%				100	%


		Nine Months Ended September 30, 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		$	149,197		$	8,751			$	157,948			$	32,173		$	9,221		$	37,418			$	78,812				$	236,760

Provision for expected credit loss expense			2,762			639				3,401				22,282			—			15,742				38,024					41,425

Net refund transfer fees			—			—				—				15,213			—			—				15,213					15,213
Mortgage banking income			3,984			—				3,984				—			—			—				—					3,984
Program fees			—			—				—				—			2,319			11,220				13,539					13,539
Other noninterest income (1)			25,437			42				25,479				165			149			3				317					25,796
Total noninterest income			29,421			42				29,463				15,378			2,468			11,223				29,069					58,532

Salaries and employee benefits			73,831			2,130				75,961				6,015			2,382			3,293				11,690					87,651
Technology, Equipment, and Communication			19,289			108				19,397				298			4			2,675				2,977					22,374
Occupancy			10,072			81				10,153				260			21			21				302					10,455
Marketing and development			2,084			—				2,084				299			30			4,199				4,528					6,612
Other noninterest expense (2)			19,096			375				19,471				1,915			482			254				2,651					22,122
Total noninterest expense			124,372			2,694				127,066				8,787			2,919			10,442				22,148					149,214

Income before income tax expense			51,484			5,460				56,944				16,482			8,770			22,457				47,709					104,653
Income tax expense			10,417			1,231				11,648				3,699			1,930			5,021				10,650					22,298

Net income		$	41,067		$	4,229			$	45,296			$	12,783		$	6,840		$	17,436			$	37,059				$	82,355

Period-end assets		$	5,559,357		$	595,624			$	6,154,981			$	26,503		$	367,857		$	143,129			$	537,489				$	6,692,470

Period-end loans		$	4,566,896		$	595,163			$	5,162,059			$	302		$	—		$	134,556			$	134,858				$	5,296,917

Period-end deposits		$	4,616,573		$	37,015			$	4,653,588			$	26,412		$	367,432		$	54,264			$	448,108				$	5,101,696

Net interest margin			3.49	%		2.64	%			3.43	%			NM			5.01	%		NM				NM					4.92	%

Net-revenue concentration*			61	%		3	%			64	%			16	%		4	%		16	%			36	%				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.

(1) Other noninterest income includes Service charges on deposit accounts, Interchange fee income, Increase in cash surrender value of BOLI, Net losses on OREO, and Other noninterest income.

(2) Other noninterest expense includes FDIC insurance expense, Interchange related expense, Legal and professional fees, and Other noninterest expense.

NM – Not Meaningful