Finance Receivables, Allowance for Credit Losses, and Credit Quality Information (Tables)
|
12 Months Ended |
Dec. 31, 2013
|
Receivables [Abstract] |
|
Summary of Finance Receivables |
Finance receivables at
December 31, 2013 and 2012 consisted of the
following:
|
|
|
|
|
|
|
|
|
|
|
2013 |
|
|
2012 |
|
Small installment
loans
|
|
$ |
288,979 |
|
|
$ |
188,562 |
|
Large installment
loans
|
|
|
43,311 |
|
|
|
52,001 |
|
Automobile purchase
loans
|
|
|
181,126 |
|
|
|
168,604 |
|
Retail purchase
loans
|
|
|
31,268 |
|
|
|
30,307 |
|
|
|
|
|
|
|
|
|
|
Finance
receivables
|
|
$ |
544,684 |
|
|
$ |
439,474 |
|
|
|
|
|
|
|
|
|
|
|
Summary of Changes in Allowance for Credit Losses |
Changes in the allowance
for credit losses for the years ended December 31, 2013, 2012,
and 2011 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
Balance at beginning of
year
|
|
$ |
23,616 |
|
|
$ |
19,300 |
|
|
$ |
18,000 |
|
Provision for credit
losses
|
|
|
39,192 |
|
|
|
27,765 |
|
|
|
17,854 |
|
Finance receivables charged
off
|
|
|
(33,750 |
) |
|
|
(24,275 |
) |
|
|
(17,147 |
) |
Recoveries
|
|
|
1,031 |
|
|
|
826 |
|
|
|
593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at end of
year
|
|
$ |
30,089 |
|
|
$ |
23,616 |
|
|
$ |
19,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Allowance for Loan Losses |
The following is a
reconciliation of the allowance for credit losses by product for
the years ended December 31, 2013, 2012, and 2011:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
January 1,
2013 |
|
|
Provision |
|
|
Charge-
Offs |
|
|
Recoveries |
|
|
Balance
December 31,
2013 |
|
|
Finance
Receivables
December 31,
2013 |
|
|
Allowance
as
Percentage
of Finance
Receivable
Balance
December 31,
2013 |
|
Small
installment
|
|
$ |
11,369 |
|
|
$ |
22,620 |
|
|
$ |
(19,108 |
) |
|
$ |
489 |
|
|
$ |
15,370 |
|
|
$ |
288,979 |
|
|
|
5.3 |
% |
Large
installment
|
|
|
2,753 |
|
|
|
1,788 |
|
|
|
(2,630 |
) |
|
|
322 |
|
|
|
2,233 |
|
|
|
43,311 |
|
|
|
5.2 |
% |
Automobile
purchase
|
|
|
8,424 |
|
|
|
12,094 |
|
|
|
(9,875 |
) |
|
|
184 |
|
|
|
10,827 |
|
|
|
181,126 |
|
|
|
6.0 |
% |
Retail purchase
|
|
|
1,070 |
|
|
|
2,690 |
|
|
|
(2,137 |
) |
|
|
36 |
|
|
|
1,659 |
|
|
|
31,268 |
|
|
|
5.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
23,616 |
|
|
$ |
39,192 |
|
|
$ |
(33,750 |
) |
|
$ |
1,031 |
|
|
$ |
30,089 |
|
|
$ |
544,684 |
|
|
|
5.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
January 1,
2012 |
|
|
Provision |
|
|
Charge-
Offs |
|
|
Recoveries |
|
|
Balance
December 31,
2012 |
|
|
Finance
Receivables
December 31,
2012 |
|
|
Allowance
as
Percentage
of Finance
Receivable
Balance
December 31,
2012 |
|
Small
installment
|
|
$ |
8,838 |
|
|
$ |
15,225 |
|
|
$ |
(13,125 |
) |
|
$ |
431 |
|
|
$ |
11,369 |
|
|
$ |
188,562 |
|
|
|
6.0 |
% |
Large
installment
|
|
|
2,448 |
|
|
|
3,288 |
|
|
|
(3,252 |
) |
|
|
269 |
|
|
|
2,753 |
|
|
|
52,001 |
|
|
|
5.3 |
% |
Automobile
purchase
|
|
|
7,618 |
|
|
|
7,888 |
|
|
|
(7,202 |
) |
|
|
120 |
|
|
|
8,424 |
|
|
|
168,604 |
|
|
|
5.0 |
% |
Retail purchase
|
|
|
396 |
|
|
|
1,364 |
|
|
|
(696 |
) |
|
|
6 |
|
|
|
1,070 |
|
|
|
30,307 |
|
|
|
3.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
19,300 |
|
|
$ |
27,765 |
|
|
$ |
(24,275 |
) |
|
$ |
826 |
|
|
$ |
23,616 |
|
|
$ |
439,474 |
|
|
|
5.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
January 1,
2011 |
|
|
Provision |
|
|
Charge-
Offs |
|
|
Recoveries |
|
|
Balance
December 31,
2011 |
|
|
Finance
Receivables
December 31,
2011 |
|
|
Allowance
as
Percentage
of Finance
Receivable
Balance
December 31,
2011 |
|
Small
installment
|
|
$ |
8,974 |
|
|
$ |
9,998 |
|
|
$ |
(10,522 |
) |
|
$ |
388 |
|
|
$ |
8,838 |
|
|
$ |
130,196 |
|
|
|
6.8 |
% |
Large
installment
|
|
|
2,972 |
|
|
|
1,330 |
|
|
|
(1,926 |
) |
|
|
72 |
|
|
|
2,448 |
|
|
|
34,625 |
|
|
|
7.1 |
% |
Automobile
purchase
|
|
|
5,909 |
|
|
|
6,118 |
|
|
|
(4,538 |
) |
|
|
129 |
|
|
|
7,618 |
|
|
|
131,650 |
|
|
|
5.8 |
% |
Retail purchase
|
|
|
145 |
|
|
|
408 |
|
|
|
(161 |
) |
|
|
4 |
|
|
|
396 |
|
|
|
10,902 |
|
|
|
3.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
18,000 |
|
|
$ |
17,854 |
|
|
$ |
(17,147 |
) |
|
$ |
593 |
|
|
$ |
19,300 |
|
|
$ |
307,373 |
|
|
|
6.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance Receivables Associated with Customers in Bankruptcy |
The following is a summary
of the finance receivables associated with customers in bankruptcy
as of December 31, 2013 and 2012:
|
|
|
|
|
|
|
|
|
|
|
2013 |
|
|
2012 |
|
Small
installment
|
|
$ |
1,498 |
|
|
$ |
420 |
|
Large
installment
|
|
|
1,677 |
|
|
|
1,666 |
|
Automobile
purchase
|
|
|
3,706 |
|
|
|
3,101 |
|
Retail purchase
|
|
|
143 |
|
|
|
71 |
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
7,024 |
|
|
$ |
5,258 |
|
|
|
|
|
|
|
|
|
|
|
Contractual Delinquency of the Finance Receivables Portfolio by Component |
The contractual delinquency
of the finance receivable portfolio by component at
December 31, 2013 and 2012 was:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2013 |
|
|
|
Small
Installment |
|
|
Large
Installment |
|
|
Automobile
Purchase |
|
|
Retail
Purchase |
|
|
Total |
|
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
Current
|
|
$ |
227,916 |
|
|
|
78.8 |
% |
|
$ |
32,513 |
|
|
|
75.1 |
% |
|
$ |
122,313 |
|
|
|
67.5 |
% |
|
$ |
24,829 |
|
|
|
79.4 |
% |
|
$ |
407,571 |
|
|
|
74.9 |
% |
1 to 29 days
delinquent
|
|
|
35,425 |
|
|
|
12.3 |
% |
|
|
7,788 |
|
|
|
18.0 |
% |
|
|
45,841 |
|
|
|
25.3 |
% |
|
|
4,249 |
|
|
|
13.6 |
% |
|
|
93,303 |
|
|
|
17.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent
accounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30 to 59 days
|
|
|
8,030 |
|
|
|
2.8 |
% |
|
|
1,220 |
|
|
|
2.8 |
% |
|
|
7,089 |
|
|
|
4.0 |
% |
|
|
749 |
|
|
|
2.4 |
% |
|
|
17,088 |
|
|
|
3.1 |
% |
60 to 89 days
|
|
|
5,600 |
|
|
|
1.9 |
% |
|
|
530 |
|
|
|
1.2 |
% |
|
|
2,721 |
|
|
|
1.5 |
% |
|
|
416 |
|
|
|
1.3 |
% |
|
|
9,267 |
|
|
|
1.7 |
% |
90 days and over
|
|
|
12,008 |
|
|
|
4.2 |
% |
|
|
1,260 |
|
|
|
2.9 |
% |
|
|
3,162 |
|
|
|
1.7 |
% |
|
|
1,025 |
|
|
|
3.3 |
% |
|
|
17,455 |
|
|
|
3.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
delinquency
|
|
$ |
25,638 |
|
|
|
8.9 |
% |
|
$ |
3,010 |
|
|
|
6.9 |
% |
|
$ |
12,972 |
|
|
|
7.2 |
% |
|
$ |
2,190 |
|
|
|
7.0 |
% |
|
$ |
43,810 |
|
|
|
8.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total finance
receivables
|
|
$ |
288,979 |
|
|
|
100.0 |
% |
|
$ |
43,311 |
|
|
|
100.0 |
% |
|
$ |
181,126 |
|
|
|
100.0 |
% |
|
$ |
31,268 |
|
|
|
100.0 |
% |
|
$ |
544,684 |
|
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance receivables in
nonaccrual status
|
|
$ |
12,008 |
|
|
|
4.2 |
% |
|
$ |
1,260 |
|
|
|
2.9 |
% |
|
$ |
3,162 |
|
|
|
1.7 |
% |
|
$ |
1,025 |
|
|
|
3.3 |
% |
|
$ |
17,455 |
|
|
|
3.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Small
Installment |
|
|
Large
Installment |
|
|
Automobile
Purchase |
|
|
Retail
Purchase |
|
|
Total |
|
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
|
$ |
|
|
% |
|
Current
|
|
$ |
149,573 |
|
|
|
79.3 |
% |
|
$ |
38,076 |
|
|
|
73.2 |
% |
|
$ |
117,847 |
|
|
|
69.9 |
% |
|
$ |
24,220 |
|
|
|
79.9 |
% |
|
$ |
329,716 |
|
|
|
75.0 |
% |
1 to 29 days
delinquent
|
|
|
25,285 |
|
|
|
13.4 |
% |
|
|
9,872 |
|
|
|
19.0 |
% |
|
|
40,705 |
|
|
|
24.1 |
% |
|
|
4,361 |
|
|
|
14.4 |
% |
|
|
80,223 |
|
|
|
18.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent
accounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30 to 59 days
|
|
|
4,514 |
|
|
|
2.4 |
% |
|
|
1,651 |
|
|
|
3.1 |
% |
|
|
5,471 |
|
|
|
3.2 |
% |
|
|
751 |
|
|
|
2.5 |
% |
|
|
12,387 |
|
|
|
2.8 |
% |
60 to 89 days
|
|
|
2,996 |
|
|
|
1.6 |
% |
|
|
757 |
|
|
|
1.5 |
% |
|
|
1,963 |
|
|
|
1.2 |
% |
|
|
333 |
|
|
|
1.1 |
% |
|
|
6,049 |
|
|
|
1.4 |
% |
90 days and over
|
|
|
6,194 |
|
|
|
3.3 |
% |
|
|
1,645 |
|
|
|
3.2 |
% |
|
|
2,618 |
|
|
|
1.6 |
% |
|
|
642 |
|
|
|
2.1 |
% |
|
|
11,099 |
|
|
|
2.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
delinquency
|
|
$ |
13,704 |
|
|
|
7.3 |
% |
|
$ |
4,053 |
|
|
|
7.8 |
% |
|
$ |
10,052 |
|
|
|
6.0 |
% |
|
$ |
1,726 |
|
|
|
5.7 |
% |
|
$ |
29,535 |
|
|
|
6.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total finance
receivables
|
|
$ |
188,562 |
|
|
|
100.0 |
% |
|
$ |
52,001 |
|
|
|
100.0 |
% |
|
$ |
168,604 |
|
|
|
100.0 |
% |
|
$ |
30,307 |
|
|
|
100.0 |
% |
|
$ |
439,474 |
|
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance receivables in
nonaccrual status
|
|
$ |
6,194 |
|
|
|
3.3 |
% |
|
$ |
1,645 |
|
|
|
3.2 |
% |
|
$ |
2,618 |
|
|
|
1.6 |
% |
|
$ |
642 |
|
|
|
2.1 |
% |
|
$ |
11,099 |
|
|
|
2.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary of Finance Receivables Evaluated for Impairment |
Following is a summary of
finance receivables evaluated for impairment at December 31,
2013 and 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2013 |
|
|
|
Small
Installment |
|
|
Large
Installment |
|
|
Automobile
Purchase |
|
|
Retail
Purchase |
|
|
Total |
|
Accounts 180 or more days
past due, excluding accounts of customers in bankruptcy
|
|
$ |
846 |
|
|
$ |
173 |
|
|
$ |
398 |
|
|
$ |
146 |
|
|
$ |
1,563 |
|
Customers in Chapter 13
bankruptcy
|
|
|
1,498 |
|
|
|
1,677 |
|
|
|
3,706 |
|
|
|
143 |
|
|
|
7,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total impaired accounts
specifically evaluated
|
|
$ |
2,344 |
|
|
$ |
1,850 |
|
|
$ |
4,104 |
|
|
$ |
289 |
|
|
$ |
8,587 |
|
Finance receivables
evaluated collectively
|
|
|
286,635 |
|
|
|
41,461 |
|
|
|
177,022 |
|
|
|
30,979 |
|
|
|
536,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance receivables
outstanding
|
|
$ |
288,979 |
|
|
$ |
43,311 |
|
|
$ |
181,126 |
|
|
$ |
31,268 |
|
|
$ |
544,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts in bankruptcy in
nonaccrual status
|
|
$ |
667 |
|
|
$ |
426 |
|
|
$ |
804 |
|
|
$ |
58 |
|
|
$ |
1,955 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of the specific
reserve for impaired accounts
|
|
$ |
1,246 |
|
|
$ |
756 |
|
|
$ |
1,565 |
|
|
$ |
180 |
|
|
$ |
3,747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average impaired
accounts
|
|
$ |
2,079 |
|
|
$ |
1,935 |
|
|
$ |
3,831 |
|
|
$ |
273 |
|
|
$ |
8,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of the general
component of the reserve
|
|
$ |
14,124 |
|
|
$ |
1,477 |
|
|
$ |
9,262 |
|
|
$ |
1,479 |
|
|
$ |
26,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Small
Installment |
|
|
Large
Installment |
|
|
Automobile
Purchase |
|
|
Retail
Purchase |
|
|
Total |
|
Accounts 180 or more days
past due, excluding accounts of customers in bankruptcy
|
|
$ |
725 |
|
|
$ |
251 |
|
|
$ |
357 |
|
|
$ |
83 |
|
|
$ |
1,416 |
|
Customers in Chapter 13
bankruptcy
|
|
|
420 |
|
|
|
1,666 |
|
|
|
3,101 |
|
|
|
71 |
|
|
|
5,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total impaired accounts
specifically evaluated
|
|
$ |
1,145 |
|
|
$ |
1,917 |
|
|
$ |
3,458 |
|
|
$ |
154 |
|
|
$ |
6,674 |
|
Finance receivables
evaluated collectively
|
|
|
187,417 |
|
|
|
50,084 |
|
|
|
165,146 |
|
|
|
30,153 |
|
|
|
432,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance receivables
outstanding
|
|
$ |
188,562 |
|
|
$ |
52,001 |
|
|
$ |
168,604 |
|
|
$ |
30,307 |
|
|
$ |
439,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts in bankruptcy in
nonaccrual status
|
|
$ |
97 |
|
|
$ |
463 |
|
|
$ |
858 |
|
|
$ |
33 |
|
|
$ |
1,451 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of the specific
reserve for impaired accounts
|
|
$ |
854 |
|
|
$ |
787 |
|
|
$ |
1,420 |
|
|
$ |
109 |
|
|
$ |
3,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average impaired
accounts
|
|
$ |
1,192 |
|
|
$ |
1,732 |
|
|
$ |
2,952 |
|
|
$ |
108 |
|
|
$ |
5,984 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of the general
component of the reserve
|
|
$ |
10,515 |
|
|
$ |
1,966 |
|
|
$ |
7,004 |
|
|
$ |
961 |
|
|
$ |
20,446 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|