Finance Receivables, Credit Quality Information, and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2019

Finance receivables for the periods indicated consisted of the following:


In thousands	September 30, 2019		December 31, 2018
Small loans	$	449,416	$	437,662
Large loans		554,664		437,998
Automobile loans		12,121		26,154
Retail loans		25,985		30,429

Finance receivables	$	1,042,186	$	932,243

Contractual Delinquency of the Finance Receivable Portfolio by Component

The contractual delinquenc

ies

of the finance receivable portfolio by product and aging for the periods indicated are as follows:


	September 30, 2019
	Small					Large					Automobile					Retail					Total
In thousands	$		%			$		%			$		%			$		%			$		%
Current	$	364,759		81.2	%	$	479,146		86.4	%	$	8,373		69.1	%	$	19,968		76.9	%	$	872,246		83.7	%
1 to 29 days past due		48,037		10.7	%		46,955		8.5	%		2,595		21.4	%		3,825		14.7	%		101,412		9.7	%

Delinquent accounts
30 to 59 days		11,930		2.6	%		9,921		1.8	%		380		3.1	%		688		2.6	%		22,919		2.3	%
60 to 89 days		8,639		1.9	%		6,757		1.2	%		294		2.4	%		458		1.8	%		16,148		1.5	%
90 to 119 days		6,422		1.4	%		4,817		0.8	%		94		0.8	%		403		1.5	%		11,736		1.1	%
120 to 149 days		5,224		1.2	%		3,893		0.7	%		219		1.8	%		340		1.3	%		9,676		0.9	%
150 to 179 days		4,405		1.0	%		3,175		0.6	%		166		1.4	%		303		1.2	%		8,049		0.8	%

Total delinquency	$	36,620		8.1	%	$	28,563		5.1	%	$	1,153		9.5	%	$	2,192		8.4	%	$	68,528		6.6	%

Total finance receivables	$	449,416		100.0	%	$	554,664		100.0	%	$	12,121		100.0	%	$	25,985		100.0	%	$	1,042,186		100.0	%

Finance receivables in nonaccrual status	$	18,953		4.2	%	$	15,034		2.7	%	$	734		6.1	%	$	1,191		4.6	%	$	35,912		3.4	%


	December 31, 2018
	Small					Large					Automobile					Retail					Total
In thousands	$		%			$		%			$		%			$		%			$		%
Current	$	347,053		79.3	%	$	365,950		83.6	%	$	17,767		67.9	%	$	23,392		76.9	%	$	754,162		80.9	%
1 to 29 days past due		49,946		11.4	%		45,234		10.3	%		6,304		24.1	%		4,436		14.6	%		105,920		11.4	%

Delinquent accounts
30 to 59 days		12,168		2.8	%		8,768		2.0	%		751		2.9	%		842		2.7	%		22,529		2.3	%
60 to 89 days		9,555		2.2	%		6,779		1.5	%		421		1.6	%		627		2.1	%		17,382		1.9	%
90 to 119 days		7,202		1.6	%		4,407		1.0	%		241		0.9	%		429		1.4	%		12,279		1.3	%
120 to 149 days		6,266		1.4	%		3,823		0.9	%		434		1.7	%		367		1.2	%		10,890		1.2	%
150 to 179 days		5,472		1.3	%		3,037		0.7	%		236		0.9	%		336		1.1	%		9,081		1.0	%

Total delinquency	$	40,663		9.3	%	$	26,814		6.1	%	$	2,083		8.0	%	$	2,601		8.5	%	$	72,161		7.7	%

Total finance receivables	$	437,662		100.0	%	$	437,998		100.0	%	$	26,154		100.0	%	$	30,429		100.0	%	$	932,243		100.0	%

Finance receivables in nonaccrual status	$	22,549		5.2	%	$	14,379		3.3	%	$	1,359		5.2	%	$	1,276		4.2	%	$	39,563		4.2	%

Summary of Changes in Allowance for Credit Losses

Changes in the allowance for credit losses for the periods indicated are as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
In thousands	2019			2018			2019			2018
Balance at beginning of period	$	57,200		$	48,450		$	58,300		$	48,910
Provision for credit losses		24,515			23,640			73,572			63,358
Credit losses		(21,934	)		(17,861	)		(74,312	)		(60,547	)
Recoveries		1,119			1,071			3,340			3,579

Balance at end of period	$	60,900		$	55,300		$	60,900		$	55,300

Reconciliation of Allowance for Credit Losses

The following is a reconciliation of the allowance for credit losses by product for the periods indicated:


In thousands	Balance July 1, 2019		Provision		Credit Losses			Recoveries		Balance September 30, 2019		Finance Receivables September 30, 2019		Allowance as Percentage of Finance Receivables September 30, 2019
Small loans	$	29,134	$	13,192	$	(12,465	)	$	628	$	30,489	$	449,416		6.8	%
Large loans		25,054		10,518		(8,386	)		422		27,608		554,664		5.0	%
Automobile loans		1,093		164		(361	)		35		931		12,121		7.7	%
Retail loans		1,919		641		(722	)		34		1,872		25,985		7.2	%

Total	$	57,200	$	24,515	$	(21,934	)	$	1,119	$	60,900	$	1,042,186		5.8	%


In thousands	Balance July 1, 2018		Provision		Credit Losses			Recoveries		Balance September 30, 2018		Finance Receivables September 30, 2018		Allowance as Percentage of Finance Receivables September 30, 2018
Small loans	$	23,969	$	10,768	$	(10,227	)	$	551	$	25,061	$	414,441		6.0	%
Large loans		19,698		11,308		(6,027	)		328		25,307		410,811		6.2	%
Automobile loans		2,642		631		(870	)		162		2,565		32,322		7.9	%
Retail loans		2,141		933		(737	)		30		2,367		30,502		7.8	%

Total	$	48,450	$	23,640	$	(17,861	)	$	1,071	$	55,300	$	888,076		6.2	%


In thousands	Balance January 1, 2019		Provision		Credit Losses			Recoveries		Balance September 30, 2019		Finance Receivables September 30, 2019		Allowance as Percentage of Finance Receivables September 30, 2019
Small loans	$	30,759	$	40,883	$	(42,946	)	$	1,793	$	30,489	$	449,416		6.8	%
Large loans		23,702		29,958		(27,273	)		1,221		27,608		554,664		5.0	%
Automobile loans		1,893		404		(1,579	)		213		931		12,121		7.7	%
Retail loans		1,946		2,327		(2,514	)		113		1,872		25,985		7.2	%

Total	$	58,300	$	73,572	$	(74,312	)	$	3,340	$	60,900	$	1,0 42,186		5.8	%


In thousands	Balance January 1, 2018		Provision		Credit Losses			Recoveries		Balance September 30, 2018		Finance Receivables September 30, 2018		Allowance as Percentage of Finance Receivables September 30, 2018
Small loans	$	24,749	$	34,771	$	(36,383	)	$	1,924	$	25,061	$	414,441		6.0	%
Large loans		17,548		24,971		(18,225	)		1,013		25,307		410,811		6.2	%
Automobile loans		4,025		1,216		(3,210	)		534		2,565		32,322		7.9	%
Retail loans		2,588		2,400		(2,729	)		108		2,367		30,502		7.8	%

Total	$	48,910	$	63,358	$	(60,547	)	$	3,579	$	55,300	$	888,076		6.2	%

Tabular Disclosure of Impaired Financing Receivables

The following is a summary of finance receivables evaluated for impairment for the periods indicated:


	September 30, 2019
In thousands	Small		Large		Automobile		Retail		Total
Impaired receivables specifically evaluated	$	10,252	$	19,935	$	747	$	130	$	31,064
Finance receivables evaluated collectively		439,164		534,729		11,374		25,855		1,011,122

Finance receivables outstanding	$	449,416	$	554,664	$	12,121	$	25,985	$	1,042,186

Impaired receivables in nonaccrual status	$	1,627	$	3,092	$	182	$	58	$	4,959

Amount of the specific reserve for impaired accounts	$	4,215	$	7,411	$	381	$	68	$	12,075

Amount of the general component of the allowance	$	26,274	$	20,197	$	550	$	1,804	$	48,825


	December 31, 2018
In thousands	Small		Large		Automobile		Retail		Total
Impaired receivables specifically evaluated	$	8,361	$	17,196	$	918	$	110	$	26,585
Finance receivables evaluated collectively		429,301		420,802		25,236		30,319		905,658

Finance receivables outstanding	$	437,662	$	437,998	$	26,154	$	30,429	$	932,243

Impaired receivables in nonaccrual status	$	1,209	$	2,292	$	178	$	37	$	3,716

Amount of the specific reserve for impaired accounts	$	3,791	$	6,860	$	492	$	61	$	11,204

Amount of the general component of the allowance	$	26,968	$	16,842	$	1,401	$	1,885	$	47,096

The average recorded investment in impaired finance receivables and the amount of interest income recognized on impaired loans for the periods indicated are as follows:


	Three Months Ended September 30,
	2019				2018
In thousands	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Small loans	$	10,055	$	433	$	6,785	$	234
Large loans		19,274		701		13,193		340
Automobile loans		786		11		1,315		3
Retail loans		133		2		122		1

Total	$	30,248	$	1,147	$	21,415	$	578


	Nine Months Ended September 30,
	2019				2018
In thousands	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Small loans	$	9,573	$	1,117	$	6,193	$	733
Large loans		18,432		1,782		12,207		1,094
Automobile loans		815		28		1,496		55
Retail loans		129		3		108		6

Total	$	28,949	$	2,930	$	20,004	$	1,888