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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Consumer loans, including past due fees $ 224,682 $ 218,016 $ 654,425 $ 574,369
Fees and related income on earning assets 59,853 48,518 167,084 169,055
Other revenue 10,378 11,340 25,137 34,016
Total operating revenue, net 294,913 277,874 846,646 777,440
Other non-operating revenue (6) 80 140 380
Total revenue 294,907 277,954 846,786 777,820
Interest expense (28,274) (21,514) (76,723) (57,849)
Provision for losses on loans, interest and fees receivable recorded at amortized cost (538) (381) (1,551) (710)
Changes in fair value of loans, interest and fees receivable recorded at fair value (177,854) (163,624) (505,505) (414,863)
Net margin 88,241 92,435 263,007 304,398
Operating expenses:        
Salaries and benefits 11,360 10,363 32,593 31,888
Card and loan servicing 25,864 24,775 74,013 71,447
Marketing and solicitation 12,599 11,053 37,491 51,857
Depreciation 647 488 1,908 1,630
Other 6,013 6,440 19,149 28,086
Total operating expenses 56,483 53,119 165,154 184,908
Income before income taxes 31,758 39,316 97,853 119,490
Income tax (expense) benefit (6,785) (6,946) (22,172) (8,568)
Net income 24,973 32,370 75,681 110,922
Net loss attributable to noncontrolling interests 267 201 860 684
Net income attributable to controlling interests 25,240 32,571 76,541 111,606
Preferred dividends and discount accretion (6,341) (6,296) (18,857) (18,759)
Net income attributable to common shareholders $ 18,899 $ 26,275 $ 57,684 $ 92,847
Net income attributable to common shareholders per common share—basic (in dollars per share) $ 1.3 $ 1.81 $ 3.99 $ 6.32
Net income attributable to common shareholders per common share—diluted (in dollars per share) $ 1.03 $ 1.41 $ 3.14 $ 4.85