v3.25.2
SEGMENT INFORMATION (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Segment Disclosure information          
Number of reportable segments | segment     5    
Segment information          
Net interest income $ 76,202 $ 68,536 $ 178,890 $ 165,455  
Provision for expected credit loss expense on loans 1,823 5,143 19,495 35,765  
Mortgage banking income 1,896 1,612 3,717 1,922  
Program fees 4,451 4,398 8,273 8,577  
Gain on sale of Visa Class B-1 shares     4,090    
Other noninterest income 8,730 8,525 18,258 16,589  
Total noninterest income 17,644 18,346 50,798 41,719  
Salaries and employee benefits 30,801 29,143 61,870 58,859  
Technology, Equipment, and Communication 8,684 7,340 17,327 14,830  
Occupancy 3,391 3,409 6,955 7,231  
Marketing and development 1,243 2,705 2,630 4,629  
Core conversion and contract consulting fees 182   5,896    
Other noninterest expense 7,332 7,037 15,163 15,056  
Total noninterest expense 51,633 49,634 109,841 100,605  
INCOME BEFORE INCOME TAX EXPENSE 40,390 32,105 100,352 70,804  
Income tax expense (benefit) 8,906 6,899 21,600 14,992  
NET INCOME 31,484 25,206 78,752 55,812  
Period-end assets 6,970,917 6,616,574 6,970,917 6,616,574 $ 6,846,667
Period-end loans 5,373,020 5,264,270 5,373,020 5,264,270 5,439,466
Period-end deposits $ 5,317,239 $ 5,069,047 $ 5,317,239 $ 5,069,047 5,210,546
Net interest margin (as percent) 4.61% 4.36% 5.44% 5.13%  
Net-revenue concentration (as percent) 100.00% 100.00% 100.00% 100.00%  
Core Banking Activities          
Segment Disclosure information          
Number of reportable segments | segment     2    
Segment information          
Net interest income $ 59,929 $ 52,829 $ 116,278 $ 103,345  
Provision for expected credit loss expense on loans 772 1,129 50 1,796  
Mortgage banking income 1,896 1,612 3,717 1,922  
Gain on sale of Visa Class B-1 shares     4,090    
Other noninterest income 8,573 8,448 18,046 16,447  
Total noninterest income 10,469 10,060 25,853 18,369  
Salaries and employee benefits 26,601 25,366 53,552 50,700  
Technology, Equipment, and Communication 7,472 6,423 14,954 12,930  
Occupancy 3,321 3,310 6,814 7,028  
Marketing and development 1,150 958 1,438 1,442  
Core conversion and contract consulting fees 182   5,896    
Other noninterest expense 6,858 6,582 13,708 12,811  
Total noninterest expense 45,584 42,639 96,362 84,911  
INCOME BEFORE INCOME TAX EXPENSE 24,042 19,121 45,719 35,007  
Income tax expense (benefit) 5,353 4,111 9,669 6,875  
NET INCOME 18,689 15,010 36,050 28,132  
Period-end assets 6,460,863 6,081,433 6,460,863 6,081,433  
Period-end loans 5,253,925 5,138,178 5,253,925 5,138,178 5,119,939
Period-end deposits $ 4,887,248 $ 4,599,960 $ 4,887,248 $ 4,599,960 4,606,458
Net interest margin (as percent) 3.72% 3.46% 3.71% 3.38%  
Net-revenue concentration (as percent) 75.00% 73.00% 62.00% 59.00%  
Traditional Banking          
Segment information          
Net interest income $ 56,380 $ 49,915 $ 109,701 $ 98,174  
Provision for expected credit loss expense on loans 517 915 (252) 1,273  
Mortgage banking income 1,896 1,612 3,717 1,922  
Gain on sale of Visa Class B-1 shares     4,090    
Other noninterest income 8,550 8,435 18,003 16,421  
Total noninterest income 10,446 10,047 25,810 18,343  
Salaries and employee benefits 25,866 24,638 52,124 49,267  
Technology, Equipment, and Communication 7,427 6,381 14,874 12,866  
Occupancy 3,291 3,287 6,754 6,987  
Marketing and development 1,150 958 1,438 1,442  
Core conversion and contract consulting fees 182   5,896    
Other noninterest expense 6,717 6,448 13,453 12,544  
Total noninterest expense 44,633 41,712 94,539 83,106  
INCOME BEFORE INCOME TAX EXPENSE 21,676 17,335 41,224 32,138  
Income tax expense (benefit) 4,820 3,708 8,656 6,228  
NET INCOME 16,856 13,627 32,568 25,910  
Period-end assets 5,788,697 5,531,961 5,788,697 5,531,961  
Period-end loans 4,582,152 4,589,167 4,582,152 4,589,167 4,569,179
Period-end deposits $ 4,849,544 $ 4,565,297 $ 4,849,544 $ 4,565,297  
Net interest margin (as percent) 3.84% 3.53% 3.81% 3.43%  
Net-revenue concentration (as percent) 71.00% 70.00% 59.00% 56.00%  
Warehouse Lending          
Segment information          
Net interest income $ 3,549 $ 2,914 $ 6,577 $ 5,171  
Provision for expected credit loss expense on loans 255 214 302 523  
Other noninterest income 23 13 43 26  
Total noninterest income 23 13 43 26  
Salaries and employee benefits 735 728 1,428 1,433  
Technology, Equipment, and Communication 45 42 80 64  
Occupancy 30 23 60 41  
Other noninterest expense 141 134 255 267  
Total noninterest expense 951 927 1,823 1,805  
INCOME BEFORE INCOME TAX EXPENSE 2,366 1,786 4,495 2,869  
Income tax expense (benefit) 533 403 1,013 647  
NET INCOME 1,833 1,383 3,482 2,222  
Period-end assets 672,166 549,472 672,166 549,472  
Period-end loans 671,773 549,011 671,773 549,011  
Period-end deposits $ 37,704 $ 34,663 $ 37,704 $ 34,663  
Net interest margin (as percent) 2.51% 2.57% 2.59% 2.61%  
Net-revenue concentration (as percent) 4.00% 3.00% 3.00% 3.00%  
Republic Processing Group          
Segment Disclosure information          
Number of reportable segments | segment     3    
Segment information          
Net interest income $ 16,273 $ 15,707 $ 62,612 $ 62,110  
Provision for expected credit loss expense on loans 1,051 4,014 19,445 33,969  
Program fees 4,451 4,398 8,273 8,577  
Other noninterest income 157 77 212 142  
Total noninterest income 7,175 8,286 24,945 23,350  
Salaries and employee benefits 4,200 3,777 8,318 8,159  
Technology, Equipment, and Communication 1,212 917 2,373 1,900  
Occupancy 70 99 141 203  
Marketing and development 93 1,747 1,192 3,187  
Other noninterest expense 474 455 1,455 2,245  
Total noninterest expense 6,049 6,995 13,479 15,694  
INCOME BEFORE INCOME TAX EXPENSE 16,348 12,984 54,633 35,797  
Income tax expense (benefit) 3,553 2,788 11,931 8,117  
NET INCOME 12,795 10,196 42,702 27,680  
Period-end assets 510,054 535,141 510,054 535,141  
Period-end loans 119,095 126,092 119,095 126,092  
Period-end deposits $ 429,991 $ 469,087 $ 429,991 $ 469,087 $ 604,088
Net-revenue concentration (as percent) 25.00% 27.00% 38.00% 41.00%  
Tax Refund Solutions          
Segment information          
Net interest income $ 62 $ 823 $ 29,874 $ 31,733  
Provision for expected credit loss expense on loans (3,932) (1,182) 11,495 24,592  
Other noninterest income 156 75 210 138  
Total noninterest income 2,723 3,886 16,670 14,769  
Salaries and employee benefits 1,963 1,721 4,161 4,271  
Technology, Equipment, and Communication 132 52 317 220  
Occupancy 60 85 121 175  
Marketing and development 103 (21) 178 134  
Other noninterest expense 246 187 950 1,736  
Total noninterest expense 2,504 2,024 5,727 6,536  
INCOME BEFORE INCOME TAX EXPENSE 4,213 3,867 29,322 15,374  
Income tax expense (benefit) 901 796 6,399 3,510  
NET INCOME 3,312 3,071 22,923 11,864  
Period-end assets 32,771 32,106 32,771 32,106  
Period-end loans 95 92 95 92  
Period-end deposits $ 31,374 $ 31,945 $ 31,374 $ 31,945  
Net-revenue concentration (as percent) 3.00% 5.00% 20.00% 22.00%  
Republic Payment Solutions          
Segment information          
Net interest income $ 3,563 $ 2,930 $ 7,557 $ 6,438  
Program fees 735 760 1,502 1,533  
Other noninterest income 1 1 1 2  
Total noninterest income 736 761 1,503 1,535  
Salaries and employee benefits 1,035 858 1,902 1,626  
Technology, Equipment, and Communication 27   44 4  
Occupancy 5 7 10 14  
Marketing and development   30   30  
Other noninterest expense 112 123 283 298  
Total noninterest expense 1,179 1,018 2,239 1,972  
INCOME BEFORE INCOME TAX EXPENSE 3,120 2,673 6,821 6,001  
Income tax expense (benefit) 679 574 1,485 1,335  
NET INCOME 2,441 2,099 5,336 4,666  
Period-end assets 346,586 362,410 346,586 362,410  
Period-end deposits $ 346,586 $ 361,980 $ 346,586 $ 361,980  
Net interest margin (as percent) 4.28% 5.03% 4.42% 5.05%  
Net-revenue concentration (as percent) 5.00% 4.00% 4.00% 4.00%  
Republic Credit Solutions          
Segment information          
Net interest income $ 12,648 $ 11,954 $ 25,181 $ 23,939  
Provision for expected credit loss expense on loans 4,983 5,196 7,950 9,377  
Program fees 3,716 3,638 6,771 7,044  
Other noninterest income   1 1 2  
Total noninterest income 3,716 3,639 6,772 7,046  
Salaries and employee benefits 1,202 1,198 2,255 2,262  
Technology, Equipment, and Communication 1,053 865 2,012 1,676  
Occupancy 5 7 10 14  
Marketing and development (10) 1,738 1,014 3,023  
Other noninterest expense 116 145 222 211  
Total noninterest expense 2,366 3,953 5,513 7,186  
INCOME BEFORE INCOME TAX EXPENSE 9,015 6,444 18,490 14,422  
Income tax expense (benefit) 1,973 1,418 4,047 3,272  
NET INCOME 7,042 5,026 14,443 11,150  
Period-end assets 130,697 140,625 130,697 140,625  
Period-end loans 119,000 126,000 119,000 126,000  
Period-end deposits $ 52,031 $ 75,162 $ 52,031 $ 75,162  
Net-revenue concentration (as percent) 17.00% 18.00% 14.00% 15.00%  
Net refund transfer fees          
Segment information          
Revenue $ 2,567 $ 3,811 $ 16,460 $ 14,631  
Net refund transfer fees | Republic Processing Group          
Segment information          
Revenue 2,567 3,811 16,460 14,631  
Net refund transfer fees | Tax Refund Solutions          
Segment information          
Revenue $ 2,567 $ 3,811 $ 16,460 $ 14,631