Republic Bancorp (RBCAA) 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

Republic Announces Second Quarter Net Income of $6.0 Million with Diluted Earnings per Class A Common Stock of $0.28

July 20, 2007

Contact: Kevin Sipes

Executive Vice President & CFO

Louisville, KY — Republic Bancorp, Inc. (Republic or the Company) (NASDAQ: RBCAA), the holding company for Republic Bank & Trust Company and Republic Bank, posted net income of $6.0 million with diluted earnings per Class A Common Stock (“EPS”) of $0.28 for the second quarter of 2007, matching net income and EPS for the same period in 2006. “While several key revenue streams showed healthy growth, expenses representing investments in technology and banking center expansion offset growth in revenue. Management remains focused on building long-term shareholder value, as the Company continues with its plans to expand geographically, explore new initiatives, invest in talented associates and acquire more efficient technology. In particular, management is encouraged by the success of some of its newer initiatives such as the ‘Breakfree’ checking account, Republic’s Private Banking division and our expansion into Florida. In addition, the future appears to be extremely promising for Tax Refund Solutions with many changes occurring in the industry, which may positively impact Republic. The Company continues to tirelessly work to further enhance net income and earnings per share over the long-term,” commented Steve Trager, President & CEO of Republic.

Strong asset quality continued to be a prevailing theme for Republic during the second quarter of 2007. The Company’s level of non-performing loans remained firmly under one-half of one percent of outstanding loans finishing the quarter at 0.40%, while delinquent loans as a percent of total loans continued to be strong compared to peer at 0.70%. These positive factors helped support a provision for loan losses of only $147,000 for the second quarter of 2007. “As loan losses continue to grow at many banks across the country resulting from poor investment decisions in sub-prime real estate loans, our asset quality ratios remain strong — further underscoring our value as a safe and sound, long-term investment option for our shareholders,” further commented Steve Trager.

Growth in loan balances provided a positive impact to net interest income during the second quarter of 2007. Total loans grew by $131 million from $2.2 billion at June 30, 2006 to $2.3 billion at June 30, 2007. Overall, net interest income increased $957,000, or 5%, for the second quarter of 2007 compared to the same period in 2006. “We continue to have great success in the lending function, as much of our focus in 2007 has been concentrated on the origination of immediately repricing loans such as commercial, real estate construction and home equity lines of credit. However, due to our lending success, affordable funding remains an on-going challenge for the Company. We continue to face stern competition for deposits, which in turn increases our incremental cost of funds. Alternatively, if we are unable to gather enough deposits to fund our asset growth, the Company must obtain funding from higher cost borrowing sources such as brokered deposits or Federal Home Loan Bank advances. These factors, combined with the continued flatness of the yield curve, remain an obstacle to growing our net interest margin in the short-term. Instead the Company will continue to focus on sound asset growth to increase net interest income,” Steve Trager further noted.

Non interest income increased $1.8 million, or 26%, for the second quarter of 2007 compared to the same period in 2006. Service charges on deposits increased $569,000, or 14%, for the quarter thanks in large part to growth in the Company’s transaction account base, which surpassed 83,000 accounts as of June 30, 2007. Republic also experienced a significant increase in Net RAL securitization income as the Company revised higher its anticipated cash flows of the securitization residual primarily as a result of better than previously estimated losses related to loans sold into the securitization.

Non interest expense increased $3.3 million, or 18%, for the second quarter of 2007 to $21.5 million. The increase in non interest expense primarily resulted from an increase in personnel and occupancy costs related to growth in the Company’s infrastructure and sales staff. In particular, the Company experienced a significant increase in full time equivalent (“FTE”) employees from June 30, 2006 to June 30, 2007. “Our increase in non interest expense further highlights the significant investment Republic is making in its future. We have increased our staffing to accommodate current client activity as well as our significant future growth plans, which include at least 6 new banking centers over the next 12 months. In addition, the Company has made and will continue to make significant technology investments to enhance the efficiency of Republic’s associates. We believe all of these investments will greatly enhance the long-term franchise value of the Company,” Steve Trager commented.

During the second quarter of 2007, Republic introduced Remote Deposit Capture for its commercial client base. Remote Deposit Capture allows commercial clients to make large deposits of checks electronically without leaving their offices. Not only will this technology enhance the banking experience of commercial clients, but it will also reduce wait times for our retail clients at the teller line, thereby providing a better experience for them as well. The Company will also roll out an enhanced business on-line banking system in the third quarter, as well as a new “state of the art” phone system that will provide those clients who choose to “help themselves” with more self service banking options via the telephone.

“Republic’s Board of Directors has encouraged management to seize opportunities that come with reasonable and productive long-term growth potential. The Board recognizes that, in order to take advantage of these opportunities, it is necessary to make great investments in people, facilities, technology and infrastructure. These investments have the potential to dramatically increase earnings in the future. We maintain that a safe and sound long-term growth strategy is in the best interest of Republic and its shareholders as we remain firm in our commitment to never sacrifice long-term value for the benefit of short-term gain,” concluded Steve Trager.

Republic Bancorp, Inc. (Republic) has 38 banking centers and is the parent company of: Republic Bank & Trust Company with 34 banking centers in ten Kentucky communities — Bowling Green, Covington, Elizabethtown, Fort Wright, Frankfort, Georgetown, Lexington, Louisville, Owensboro, and Shelbyville and two banking centers in Jeffersonville and New Albany, Indiana. Republic Bank has two banking centers in Port Richey and New Port Richey, Florida. Republic Bank & Trust Company operates two Republic Finance offices in Louisville, as well as Tax Refund Solutions, a nationwide tax refund loan and check provider. Republic offers internet banking at www.republicbank.com. Republic has $3.1 billion in assets and $1 billion in trust assets under custody and management. Republic is headquartered in Louisville, Kentucky, and Republic Class A Common Stock is listed under the symbol ‘RBCAA’ on the NASDAQ Global Select Market.

Statements in this press release relating to Republic’s plans, objectives, or future performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations. Republic’s actual strategies and results in future periods may differ materially from those currently expected due to various risks and uncertainties, including those discussed in Republic’s 2006 Form 10-K and subsequent 10-Qs filed with the Securities and Exchange Commission.

Republic Bancorp, Inc. Financial Information

Second Quarter 2007 Earnings Release

(all amounts other than per share amounts and number of employees are expressed in thousands unless otherwise noted)

Balance Sheet Data
	June 30, 2007			Dec. 31, 2006			June 30, 2006
Assets:
Cash and cash equivalents	$	72,585		$	81,613		$	74,843
Investment securities	584,347			561,772			442,373
Mortgage loans held for sale	16,430			5,724			4,162
Loans	2,335,844			2,300,888			2,204,733
Allowance for loan losses	(11,157		)	(11,218		)	(10,760		)
Federal Home Loan Bank stock, at cost	23,955			23,111			22,351
Premises and equipment, net	36,833			36,560			32,062
Goodwill	10,025			10,016			—
Other assets and accrued interest receivable	37,385			38,321			29,174
Total assets	$	3,106,247		$	3,046,787		$	2,798,938
Liabilities and Stockholders’ Equity:
Non interest-bearing deposits	$	293,383		$	279,026		$	279,800
Interest-bearing deposits	1,381,938			1,413,696			1,321,336
Total deposits	1,675,321			1,692,722			1,601,136
Securities sold under agreements to repurchase and other short-term borrowings	434,276			401,886			323,334
Federal Home Loan Bank advances	684,683			646,572			582,378
Subordinated note	41,240			41,240			41,240
Other liabilities and accrued interest payable	28,295			27,019			25,765
Total liabilities	2,863,815			2,809,439			2,573,853
Stockholders’ equity	242,432			237,348			225,085
Total liabilities and Stockholders’ equity	$	3,106,247		$	3,046,787		$	2,798,938

Average Balance Sheet Data from Continuing Operations
	Second Quarter Ended June 30,				Six Months Ended June 30,
Assets:	2007		2006		2007		2006
Federal funds sold and other	$	4,378	$	20,867	$	7,306	$	13,332
Investment securities	583,385		484,970		581,461		504,447
Loans and fees	2,326,645		2,156,678		2,330,078		2,130,420
Total earning assets	2,914,408		2,662,515		2,918,845		2,648,199
Total assets	3,040,452		2,775,527		3,045,663		2,759,406
Liabilities and Stockholders’ Equity:
Non interest-bearing deposits	$	286,827	$	286,620	$	296,947	$	294,741
Interest-bearing deposits	1,383,872		1,305,983		1,385,447		1,312,425
Securities sold under agreements to repurchase and other short-term borrowings	448,865		342,753		440,826		336,031
Federal Home Loan Bank advances	603,860		547,211		605,608		526,083
Subordinated note	41,240		41,240		41,240		41,240
Total interest-bearing liabilities	2,477,837		2,237,187		2,473,121		2,215,779
Stockholders’ equity	244,781		223,853		241,997		220,019

Republic Bancorp, Inc. Financial Information

Second Quarter 2007 Earnings Release (continued)

Income Statement Data
	Second Quarter Ended June 30,					Six Months Ended June 30,
	2007		2006			2007		2006
Total interest income (1)	$	47,933	$	41,775		$	100,359	$	86,148
Total interest expense	25,924		20,723			51,101		39,727
Net interest income	22,009		21,052			49,258		46,421
Provision for loan losses	147		573			3,827		1,903
Service charges on deposit accounts	4,658		4,089			8,810		7,752
Electronic refund check fees	683		523			4,112		3,951
Net RAL securitization income	1,095		404			3,702		2,418
Mortgage banking income	604		487			1,146		942
Debit card interchange fee income	1,107		899			2,111		1,739
Other	661		614			1,061		1,053
Total non interest income	8,808		7,016			20,942		17,855
Salaries and employee benefits	11,309		10,056			23,652		21,424
Occupancy and equipment, net	4,287		3,660			8,334		7,383
Communication and transportation	754		595			1,702		1,302
Marketing and development	846		605			1,667		1,185
Bankshares tax	630		546			1,293		1,102
Data processing	642		564			1,228		1,094
Debit card interchange expense	573		385			1,090		773
Supplies	450		310			908		658
Other	2,039		1,472			4,626		3,113
Total non interest expenses	21,530		18,193			44,500		38,034
Income from continuing operations before income tax expense	9,140		9,302			21,873		24,339
Income tax expense from continuing operations	3,171		3,337			7,598		8,513
Income from continuing operations before discontinued operations, net of income tax expense	5,969		5,965			14,275		15,826
Loss from discontinued operations before income tax benefit	—		(3		)	—		(177		)
Income tax benefit from discontinued operations	—		(2		)	—		(62		)
Loss from discontinued operations, net of income tax benefit (2)	—		(1		)	—		(115		)
Net income	$	5,969	$	5,964		$	14,275	$	15,711

Republic Bancorp, Inc. Financial Information

Second Quarter 2007 Earnings Release (continued)

	Second Quarter Ended June 30						Six Months Ended June 30,
	2007			2006			2007			2006
Per Share Data (3):
Basic average shares outstanding	20,617			20,493			20,609			20,475
Diluted average shares outstanding	21,013			21,032			21,107			21,029
End of period shares outstanding:
Class A Common Stock	18,099			18,139			18,099			18,139
Class B Common Stock	2,349			2,356			2,349			2,356
Book value per share	$	11.86		$	10.98		$	11.86		$	10.98
Earnings per share from continuing operations:
Basic earnings per Class A Common Stock	0.29			0.29			0.69			0.77
Basic earnings per Class B Common Stock	0.28			0.28			0.68			0.76
Diluted earnings per Class A Common Stock	0.28			0.28			0.67			0.75
Diluted earnings per Class B Common Stock	0.28			0.28			0.66			0.74
Earnings per share from discontinued operations (2):
Basic earnings per Class A Common Stock	0.00			0.00			0.00			0.00
Basic earnings per Class B Common Stock	0.00			0.00			0.00			(0.01		)
Diluted earnings per Class A Common Stock	0.00			0.00			0.00			(0.01		)
Diluted earnings per Class B Common Stock	0.00			0.00			0.00			0.00
Earnings per share:
Basic earnings per Class A Common Stock	0.29			0.29			0.69			0.77
Basic earnings per Class B Common Stock	0.28			0.28			0.68			0.75
Diluted earnings per Class A Common Stock	0.28			0.28			0.67			0.74
Diluted earnings per Class B Common Stock	0.28			0.28			0.66			0.74
Cash dividends declared per share:
Class A Common Stock	0.110			0.094			0.204			0.174
Class B Common Stock	0.100			0.086			0.186			0.158
Performance Ratios:
Return on average assets (ROA) from continuing operations	0.79		%	0.86		%	0.94		%	1.15		%
Return on average assets	0.79			0.86			0.94			1.14
Return on average equity (ROE) from continuing operations	9.75			10.66			11.79			14.39
Return on average equity	9.75			10.66			11.79			14.28
Efficiency ratio from continuing operations (4)	70			65			63			59
Yield on average earning assets	6.58			6.28			6.88			6.51
Cost of interest-bearing liabilities	4.18			3.71			4.13			3.59
Net interest spread	2.40			2.57			2.75			2.92
Net interest margin	3.02			3.16			3.38			3.51
Asset Quality Ratios:
Loans on non-accrual status	6,834			6,569			6,834			6,569
Loans past due 90 days or more and still on accrual	2,483			564			2,483			564
Total non-performing loans	9,317			7,133			9,317			7,133
Other real estate owned	406			55			406			55
Total non-performing assets	9,723			7,188			9,723			7,188
Non-performing loans to total loans	0.40		%	0.33		%	0.40		%	0.33		%
Allowance for loan losses to total loans	0.48			0.49			0.48			0.49
Allowance for loan losses to non-performing loans	120			151			120			151
Net loan charge-offs to average loans (from continuing operations)	0.08			0.15			0.34			0.14
Delinquent loans to total loans (5)	0.70			0.41			0.70			0.41
Other Information:
End of period full-time equivalent employees	718			640			718			640
Number of banking centers	38			35			38			35

Republic Bancorp, Inc. Financial Information

Second Quarter 2007 Earnings Release (continued)

Balance Sheet Data

	Quarterly Comparison
	June 30, 2007			March 31, 2007			Dec. 31, 2006			Sept. 30 2006			June 30, 2006
Assets:
Cash and cash equivalents	$	72,585		$	78,447		$	81,613		$	66,145		$	74,843
Investment securities	584,347			525,077			561,772			510,974			442,373
Mortgage loans held for sale	16,430			12,914			5,724			1,530			4,162
Loans	2,335,844			2,309,121			2,300,888			2,223,509			2,204,733
Allowance for loan losses	(11,157		)	(11,487		)	(11,218		)	(10,857		)	(10,760		)
Federal Home Loan Bank stock, at cost	23,955			23,453			23,111			22,666			22,351
Premises and Equipment, net	36,833			36,019			36,560			31,981			32,062
Goodwill	10,025			10,025			10,016			—			—
Other assets and interest receivable	37,385			38,268			38,321			30,796			29,174
Total assets	$	3,106,247		$	3,021,837		$	3,046,787		$	2,876,744		$	2,798,938
Liabilities and Stockholders’ Equity:
Non interest-bearing deposits	$	293,383		$	306,923		$	279,026		$	282,134		$	279,800
Interest-bearing deposits	1,381,938			1,398,240			1,413,696			1,265,120			1,321,336
Total deposits	1,675,321			1,705,163			1,692,722			1,547,254			1,601,136
Securities sold under agreements to
repurchase and other short-term borrowings	434,276			445,055			401,886			304,246			323,334
Federal Home Loan Bank advances	684,683			548,528			646,572			725,732			582,378
Subordinated note	41,240			41,240			41,240			41,240			41,240
Other liabilities and accrued interest payable	28,295			37,418			27,019			25,825			25,765
Total liabilities	2,863,815			2,777,404			2,809,439			2,644,297			2,573,853
Stockholders’ equity	242,432			244,433			237,348			232,477			225,085
Total liabilities and Stockholders’ equity	$	3,106,247		$	3,021,837		$	3,046,787		$	2,876,774		$	2,798,938

Average Balance Sheet Data from Continuing Operations

	Quarterly Comparison
	June 30, 2007		March 31, 2007		Dec. 31, 2006		Sept. 30 2006		June 30, 2006
Assets:
Federal funds sold and other	$	4,378	$	10,266	$	21,076	$	15,474	$	20,867
Investment securities	583,385		579,516		594,836		492,363		484,970
Loans and fees	2,326,645		2,333,647		2,275,539		2,204,309		2,156,678
Total earning assets	2,914,408		2,923,429		2,891,451		2,712,146		2,662,515
Total assets	3,040,452		3,050,905		3,019,196		2,825,716		2,775,527
Liabilities and Stockholders’ Equity:
Non interest-bearing deposits	$	286,827	$	307,179	$	279,144	$	275,426	$	286,620
Interest-bearing deposits	1,383,872		1,387,040		1,372,028		1,299,197		1,305,983
Securities sold under agreements to
repurchase and other short-term borrowings	448,865		432,698		427,736		345,156		342,753
Federal Home Loan Bank advances	603,860		607,375		638,459		609,548		547,211
Subordinated note	41,240		41,240		41,240		41,240		41,240
Total interest-bearing liabilities	2,477,837		2,468,353		2,479,463		2,295,141		2,237,187
Stockholders’ equity	244,781		239,182		234,613		228,112		223,853

Republic Bancorp, Inc. Financial Information

Second Quarter 2007 Earnings Release (continued)

Income Statement Data

	Quarterly Comparison
	June 30, 2007		March 31, 2007		Dec. 31, 2006		Sept. 30, 2006		June 30, 2006
Total interest income (6)	$	47,933	$	52,426	$	46,614	$	43,778	$	41,775
Total interest expense	25,924		25,177		25,590		22,925		20,723
Net interest income	22,009		27,249		21,024		20,853		21,052
Provision for loan losses	147		3,680		289		110		573
Service charges on deposit accounts	4,658		4,152		4,462		4,291		4,089
Electronic refund check fees	683		3,429		148		3		523
Net RAL securitization income	1,095		2,607		240		113		404
Mortgage banking income	604		542		717		657		487
Debit card interchange fee income	1,107		1,004		970		935		899
Gain on sale of securities	—		—		300		—		—
Other	661		400		526		483		614
Total non interest income	8,808		12,134		7,363		6,482		7,016
Salaries and employee benefits	11,309		12,343		9,447		9,541		10,056
Occupancy and equipment, net	4,287		4,047		4,608		3,550		3,660
Communication and transportation	754		948		855		593		595
Marketing and development	846		821		731		543		605
Bankshares tax	630		663		254		546		546
Data processing	642		586		541		536		564
Debit card interchange expense	573		517		465		425		385
Supplies	450		458		324		289		310
Other	2,039		2,587		2,041		1,539		1,472
Total non interest expenses	21,530		22,970		19,266		17,562		18,193
Income from continuing operations before income tax expense	9,140		12,733		8,832		9,663		9,302
Income tax expense from continuing operations	3,171		4,427		2,896		3,309		3,337
Income from continuing operations before discontinued operations, net of income tax expense	5,969		8,306		5,936		6,354		5,965
Income (loss) from discontinued operations before income tax expense (benefit)	—				14		522		(3		)
	—
Income tax expense (benefit) from discontinued operations	—		—		4		182		(2		)
Income (loss) from discontinued operations, net of income tax expense (benefit) (2)	—		—		10		340		(1		)
Net income	$	5,969	$	8,306	$	5,946	$	6,694	$	5,964

Republic Bancorp, Inc. Financial Information

Second Quarter 2007 Earnings Release (continued)

	Four Quarter Comparison
	June 30, 2007			March 31, 2007			Dec. 31, 2006			Sept. 30, 2006			June 30, 2006
Per Share Data (3):
Basic average shares outstanding	20,617			20,602			20,537			20,510			20,493
Diluted average shares outstanding	21,013			21,196			21,161			21,060			21,032
End of period shares outstanding:
Class A Common Stock	18,099			18,266			18,242			18,171			18,139
Class B Common Stock	2,349			2,350			2,350			2,351			2,356
Book value per share	$	11.86		$	11.86		$	11.53		$	11.33		$	10.98
Earnings per share from continuing operations:
Basic earnings per Class A Common Stock	0.29			0.40			0.29			0.31			0.29
Basic earnings per Class B Common Stock	0.28			0.40			0.28			0.30			0.28
Diluted earnings per Class A Common Stock	0.28			0.39			0.28			0.30			0.28
Diluted earnings per Class B Common Stock	0.28			0.38			0.27			0.29			0.28
Earnings per share from discontinued operations (2):
Basic earnings per Class A Common Stock	0.00			0.00			0.00			0.02			0.00
Basic earnings per Class B Common Stock	0.00			0.00			0.00			0.02			0.00
Diluted earnings per Class A Common Stock	0.00			0.00			0.00			0.02			0.00
Diluted earnings per Class B Common Stock	0.00			0.00			0.00			0.02			0.00
Earnings per share:
Basic earnings per Class A Common Stock	0.29			0.40			0.29			0.33			0.29
Basic earnings per Class B Common Stock	0.28			0.40			0.28			0.32			0.28
Diluted earnings per Class A Common Stock	0.28			0.39			0.28			0.32			0.28
Diluted earnings per Class B Common Stock	0.28			0.38			0.27			0.31			0.28
Cash dividends declared per share:
Class A Common Stock	0.110			0.094			0.094			0.094			0.094
Class B Common Stock	0.100			0.086			0.086			0.086			0.086
Performance Ratios:
Return on average assets (ROA) from continuing operations	0.79		%	1.09		%	0.79		%	0.90		%	0.86		%
Return on average assets	0.79			1.09			0.79			0.95			0.86
Return on average equity (ROE) from continuing operations	9.75			13.89			10.12			11.14			10.66
Return on average equity	9.75			13.89			10.14			11.74			10.66
Efficiency ratio from continuing operations (4)	70			58			68			64			65
Yield on average earning assets	6.58			7.17			6.45			6.46			6.28
Cost of interest-bearing liabilities	4.18			4.08			4.13			4.00			3.71
Net interest spread	2.40			3.09			2.32			2.46			2.57
Net interest margin	3.02			3.73			2.91			3.08			3.16
Asset Quality Data:
Loans on non-accrual status	6,834			6,039			5,980			5,435			6,569
Loans past due 90 days or more and still on accrual	2,483			815			413			205			564
Total non-performing loans	9,317			6,854			6,393			5,640			7,133
Other real estate owned	406			213			547			256			55
Total non-performing assets	9,723			7,067			6,940			5,896			7,188
Non-performing loans to total loans	0.40		%	0.30		%	0.28		%	0.25		%	0.33		%
Allowance for loan losses to total loans	0.48			0.50			0.49			0.49			0.49
Allowance for loan losses to non-performing loans	120			168			175			193			151
Net loan charge-offs to average loans (from continuing operations)	0.08			0.58			(0.01		)	—			0.15
Delinquent loans to total loans (5)	0.70			0.50			0.49			0.53			0.41
Other Information:
End of period full-time equivalent employees	718			729			698			672			640
Number of banking centers	38			38			38			35			35

Segment Data:

The reportable segments are determined by the type of products and services offered, distinguished between banking operations, mortgage banking operations and Tax Refund Solutions. The Company substantially exited the deferred deposit business during the first quarter of 2006; therefore, its segment operations are presented as discontinued operations. Loans, investments and deposits provide the majority of revenue from banking operations; servicing fees and loan sales provide the majority of revenue from mortgage banking operations; Refund Anticipation Loan (“RAL”) fees, Electronic Refund Check (“ERC”)/ Electronic Refund Deposit (“ERD”) fees and Net RAL securitization income provide the majority of the revenue from Tax Refund Solutions; and fees for providing deferred deposits or payday loans have historically represented the primary revenue source for the deferred deposit segment. All Company segments are domestic. Segment information for the three and six month periods ended June 30, 2007 and 2006 follows:

	Three Months Ended June 30, 2007
(in thousands)	Banking			Tax Refund Solutions			Mortgage Banking			Total Continuing Operations			Discontinued Operations
Net interest income	$	21,040		$	858		$	111		$	22,009		$	—
Provision for loan losses	171			(24		)	—			147			—
Electronic Refund Check fees	—			683			—			683			—
Net RAL Securitization Income	—			1,095			—			1,095			—
Mortgage banking income	—			—			604			604			—
Other revenue	6,761			(55		)	(280		)	6,426			—
Income tax expense	2,494			606			71			3,171			—
Net income	4,691			1,145			133			5,969			—
Segment assets	3,085,341			4,411			16,495			3,106,247			—
Net interest margin	2.89		%	50.83		%	2.75		%	3.02		%	—

	Three Months Ended June 30, 2006
(in thousands)	Banking			Tax Refund Solutions			Mortgage Banking			Total Continuing Operations			Discontinued Operations
Net interest income	$	20,586		$	380		$	86		$	21,052		$	14
Provision for loan losses	792			(219		)	—			573			(27		)
Electronic Refund Check fees	—			523			—			523			—
Net RAL Securitization Income	—			404			—			404			—
Mortgage banking income	—			—			487			487			—
Other revenue	5,765			5			(168		)	5,602			—
Income tax expense	2,962			297			78			3,337			(2		)
Net income	5,390			433			142			5,965			(1		)
Segment assets	2,791,124			3,574			4,240			2,798,938			740
Net interest margin	3.11		%	39.06		%	4.82		%	3.16		%	—

	Six Months Ended June 30, 2007
(in thousands)	Banking			Tax Refund Solutions			Mortgage Banking			Total Continuing Operations			Discontinued Operations
Net interest income	$	42,271		$	6,777		$	210		$	49,258		$	—
Provision for loan losses	380			3,447			—			3,827			—
Electronic Refund Check fees	—			4,112			—			4,112			—
Net RAL securitization income	—			3,702			—			3,702			—
Mortgage banking income	—			—			1,146			1,146			—
Other revenue	12,540			(54		)	(504		)	11,982			—
Income tax expense	4,603			2,857			138			7,598			—
Net income	8,647			5,368			260			14,275			—
Segment assets	3,085,341			4,411			16,495			3,106,247			—
Net interest margin	2.92		%	66.86		%	3.06		%	3.38		%	—

	Six Months Ended June 30, 2006
(in thousands)	Banking			Tax Refund Solutions			Mortgage Banking			Total Continuing Operations			Discontinued Operations
Net interest income	$	40,698		$	5,591		$	132		$	46,421		$	495
Provision for loan losses	1,239			664			—			1,903			(320		)
Electronic Refund Check fees	—			3,951			—			3,951			—
Net RAL securitization income	—			2,418			—			2,418			—
Mortgage banking income	—			—			942			942			—
Other revenue	10,837			7			(300		)	10,544			—
Income tax expense (benefit)	5,481			2,897			135			8,513			(62		)
Net income (loss)	10,188			5,387			251			15,826			(115		)
Segment assets	2,791,124			3,574			4,240			2,798,938			740
Net interest margin	3.10		%	66.30		%	4.67		%	3.51		%	—

Detail of Net RAL securitization income follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands)	2007		2006		2007		2006
Net gain on sale of RALs	$	—	$	—	$	2,607	$	2,022
Increase in securitization residual	1,095		404		1,095		396
Net RAL securitization income	$	1,095	$	404	$	3,702	$	2,418

(1) — The amount of loan fee income included in total interest income was $1.7 million and $1.2 million for the quarters ended June 30, 2007 and 2006. The amount of loan fee income included in total interest income was $8.0 million and 7.0 million for the six months ended June 30, 2007 and 2006.

(2) — Represents the Company substantially exiting the payday loan segment of business during the first quarter of 2006.

(3) — Prior period amounts have been restated to reflect the 5% stock dividend declared in the first quarter of 2007.

(4) — Equals total non-interest expense divided by the sum of net interest income and non interest income.

(5) — Equals total loans over 30 days past due divided by total loans.

(6) — The amount of loan fee income included in total interest income was as follows: $1.7 million (June 30, 2007), $6.3 million (March 31, 2007), $888,000 (December 31, 2006), $971,000 (September 30, 2006), and $1.2 million (June 30, 2006).