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Finance Receivables, Credit Quality Information, and Allowance for Credit Losses (Tables)
12 Months Ended
Dec. 31, 2019
Receivables [Abstract]  
Summary of Finance Receivables
Finance receivables for the periods indicated consisted of the following:
 
   
December 31,
 
In thousands
  
2019
   
2018
 
Small loans
  $462,499   $437,662 
Large loans
   608,608    437,998 
Automobile loans
   9,623    26,154 
Retail loans
   24,083    30,429 
   
 
 
   
 
 
 
Finance receivables
  $1,104,813   $932,243 
   
 
 
   
 
 
 
Contractual Delinquency of the Finance Receivable Portfolio by Component
The contractual delinquency of the finance receivable portfolio by product and aging for the periods indicated are as follows:
 
   
December 31, 2019
 
   
Small
  
Large
  
Automobile
  
Retail
  
Total
 
In thousands
  
$
   
%
  
$
   
%
  
$
   
%
  
$
   
%
  
$
   
%
 
Current
  $372,921    80.7 $523,936    86.1 $6,906    71.8 $18,093    75.1 $921,856    83.4
1 to 29 days past due
   47,313    10.2  51,118    8.4  1,963    20.4  3,531    14.7  103,925    9.4
   
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Delinquent accounts
                                              
30 to 59 days
   12,666    2.8  11,351    1.9  240    2.5  853    3.6  25,110    2.3
60 to 89 days
   9,889    2.1  8,103    1.3  110    1.1  563    2.3  18,665    1.7
90 to 119 days
   7,500    1.6  5,832    1.0  129    1.4  375    1.5  13,836    1.3
120 to 149 days
   6,570    1.4  4,541    0.7  127    1.3  357    1.5  11,595    1.0
150 to 179 days
   5,640    1.2  3,727    0.6  148    1.5  311    1.3  9,826    0.9
   
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Total delinquency
  $42,265    9.1 $33,554    5.5 $754    9.5 $2,459    10.2 $79,032    7.2
   
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Total finance receivables
  $462,499    100.0 $608,608    100.0 $9,623    100.0 $24,083    100.0 $1,104,813    100.0
   
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Finance receivables in nonaccrual status
  $22,718    4.9 $17,739    2.9 $590    6.1 $1,186    4.9 $42,233    3.8
   
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
   
 
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:
 
   
Year Ended December 31,
 
In thousands
  
2019
   
2018
   
2017
 
Balance at beginning of period
  $58,300   $48,910   $41,250 
Provision for credit losses
   99,611    87,056    77,339 
Credit losses
   (100,056   (82,341   (75,880
Recoveries
   4,345    4,675    6,201 
   
 
 
   
 
 
   
 
 
 
Balance at end of period
  $62,200   $58,300   $48,910 
   
 
 
   
 
 
   
 
 
 
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

January 1,
2019
 
  
Provision
 
  
Credit
 
Losses
 
 
Recoveries
 
  
Balance

December 31,
2019
 
  
Finance

Receivables

December 31,
2019
 
  
Allowance as

Percentage of
Finance
Receivables

December 31, 2019
 
Small loans
  $30,759   $54,842   $(57,323 $2,310   $30,588   $462,499    6.6
Large loans
   23,702    41,278    (37,475  1,643    29,148    608,608    4.8
Automobile loans
   1,893    575    (1,893  245    820    9,623    8.5
Retail loans
   1,946    2,916    (3,365  147    1,644    24,083    6.8
   
 
 
   
 
 
   
 
 
  
 
 
   
 
 
   
 
 
   
 
 
 
Total
  $58,300   $99,611   $(100,056 $4,345   $62,200   $1,104,813    5.6
   
 
 
   
 
 
   
 
 
  
 
 
   
 
 
   
 
 
   
 
 
 
 
 
In thousands
  
Balance

January 1,
2018
 
  
Provision
 
  
Credit
 
Losses
 
 
Recoveries
 
  
Balance

December 31,
2018
 
  
Finance

Receivables

December 31,
2018
 
  
Allowance as
Percentage of
Finance
Receivables

December 31, 2018
 
Small loans
  
$
24,749
 
  
$
51,859
 
  
$
(48,333
 
$
2,484
 
  
$
30,759
 
  
$
437,662
 
  
 
7.0
Large loans
  
 
17,548
 
  
 
31,103
 
  
 
(26,337
 
 
1,388
 
  
 
23,702
 
  
 
437,998
 
  
 
5.4
Automobile loans
  
 
4,025
 
  
 
1,300
 
  
 
(4,085
 
 
653
 
  
 
1,893
 
  
 
26,154
 
  
 
7.2
Retail loans
  
 
2,588
 
  
 
2,794
 
  
 
(3,586
 
 
150
 
  
 
1,946
 
  
 
30,429
 
  
 
6.4
Total
  
$
48,910
 
  
$
87,056
 
  
$
(82,341
 
$
4,675
 
  
$
58,300
 
  
$
932,243
 
  
 
6.3
 
In thousands
  
Balance

January 1,
2017
 
  
Provision
 
  
Credit
 
Losses
 
 
Recoveries
 
  
Balance

December 31,
2017
 
  
Finance

Receivables

December 31,
2017
 
  
 
Allowance as
Percentage of
Finance
Receivables

December 31, 2017
 
Small loans
  
$
21,770
 
  
$
45,104
 
  
$
(45,612
 
$
3,487
 
  
$
24,749
 
  
$
375,772
 
  
 
6.6
Large loans
  
 
11,460
 
  
 
25,024
 
  
 
(20,088
 
 
1,152
 
  
 
17,548
 
  
 
347,218
 
  
 
5.1
Automobile loans
  
 
5,910
 
  
 
4,210
 
  
 
(7,424
 
 
1,329
 
  
 
4,025
 
  
 
61,423
 
  
 
6.6
Retail loans
  
 
2,110
 
  
 
3,001
 
  
 
(2,756
 
 
233
 
  
 
2,588
 
  
 
33,050
 
  
 
7.8
Total
  
$
41,250
 
  
$
77,339
 
  
$
(75,880
 
$
6,201
 
  
$
48,910
 
  
$
817,463
 
  
 
6.0
Tabular Disclosure of Impaired Financing Receivables The following is a summary of finance receivables evaluated for impairment for the periods indicated:
 
  
December 31, 2019
 
In thousands
  
Small
 
  
Large
 
  
Automobile
 
  
Retail
 
  
Total
 
Impaired receivables specifically evaluated
  $9,920   $20,667   $652   $130   $31,369 
Finance receivables evaluated collectively
   452,579    587,941    8,971    23,953    1,073,444 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Finance receivables outstanding
  $462,499   $608,608   $9,623   $24,083   $1,104,813 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impaired receivables in nonaccrual status
  $1,629   $3,189   $184   $40   $5,042 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Amount of the specific reserve for impaired accounts
  $4,069   $7,733   $386   $69   $12,257 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Amount of the general component of the allowance
  $26,519   $21,415   $434   $1,575   $49,943 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
  
 
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:
 
 
  
Year Ended December 31,
 
 
  
2019
 
  
2018
 
In thousands
  
Average
Recorded
Investment
 
  
Interest Income
Recognized
 
  
Average
Recorded
Investment
 
  
Interest Income
Recognized
 
Small loans
  $9,723   $ 1,551   $6,577   $ 1,066 
Large loans
   18,938    2,538    13,221    1,639 
Automobile loans
   786    37    1,381    60 
Retail loans
   129    5    109    6 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  $29,576   $4,131   $21,288   $2,771