LOANS RECEIVABLE (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Receivables [Abstract] |
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| Schedule of the Components of Loans Receivable, Net |
The following is a summary of the Company’s loans receivable, net: | | | | | | | | | | | | | (In Thousands) | June 30, 2023 | | December 31, 2022 | | Loans Receivable, Gross | $ | 171,883 | | | $ | 184,601 | | | Unamortized Fees | (10,125) | | | (11,207) | | | Loans Receivable, Amortized Cost | 161,758 | | | 173,394 | | | Allowance for Loan Losses | (38,946) | | | (42,428) | | Loans Receivable, Net of Allowances and Unamortized Fees1 | $ | 122,812 | | | $ | 130,966 | |
1 Loans Receivable, Net of Allowances and Unamortized Fees, attributable to Four was $2.9 million and $5.3 million as of June 30, 2023 and December 31, 2022, respectively.
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| Schedule of Loan Portfolio Credit Quality Indicators |
Below is a summary of the credit quality of the Company's loan portfolio as of June 30, 2023 and December 31, 2022 by FICO score as determined at the time of loan origination: | | | | | | | | | | | | | FICO Score Category | June 30, 2023 | | December 31, 2022 | | 600 or Less | 6.9 | % | | 6.9 | % | | Between 600 and 700 | 78.0 | % | | 75.4 | % | | 700 or Greater | 12.9 | % | | 13.4 | % | | No Score Identified | 2.2 | % | | 4.3 | % |
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | | | | | | | | | | As of June 30, 2023 | 2023 | | 2022 | | 2021 and Prior | | Revolving Loans | | Total | | FICO Score Category: | | | | | | | | | | | 600 or Less | $ | — | | | $ | — | | | $ | — | | | $ | 11,238 | | | $ | 11,238 | | | Between 600 and 700 | — | | | — | | | — | | | 126,429 | | | 126,429 | | | 700 or Greater | — | | | — | | | — | | | 20,418 | | | 20,418 | | | No Score Identified | 3,673 | | | — | | | — | | | — | | | 3,673 | | | Total Amortized Cost | $ | 3,673 | | | $ | — | | | $ | — | | | $ | 158,085 | | | $ | 161,758 | | | | | | | | | | | | | Gross Charge-offs by Origination Year for the Six Months Ended June 30, 2023 | $ | 526 | | | $ | 2,449 | | | $ | — | | | $ | 20,645 | | | $ | 23,620 | |
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| Schedule of Aging of the Loans Receivable Balance |
Included in the table below is an aging of the loans receivable, gross balance: | | | | | | | | | | | | | (Dollar Amounts in Thousands) | | | | | Aging Category | June 30, 2023 | | December 31, 2022 | | 30-59 Days Past Due | 6.1 | % | | 6.6 | % | | 60-89 Days Past Due | 3.3 | % | | 3.5 | % | | 90 or More Days Past Due | 4.5 | % | | 5.1 | % | | Past Due Loans Receivable | 13.9 | % | | 15.2 | % | | Current Loans Receivable | 86.1 | % | | 84.8 | % | | | | | | Balance of Credit Card Loans on Nonaccrual Status | 3,834 | | | 4,436 | | | Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees | $ | — | | | $ | — | |
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| Schedule of Allowance for Loan Losses |
The table below presents the components of the allowance for loan losses for the three and six months ended June 30, 2023 and 2022: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (In Thousands) | 2023 | | 2022 | | 2023 | | 2022 | | Beginning Balance | $ | 39,781 | | | $ | 40,279 | | | $ | 42,428 | | | $ | 40,789 | | | Provision for Loan Losses | 8,791 | | | 8,778 | | | 17,505 | | | 16,460 | | | Charge-offs | (10,882) | | | (9,286) | | | (23,620) | | | (18,674) | | | Recoveries | 1,256 | | | 1,026 | | | 2,633 | | | 2,222 | | | Ending Balance | $ | 38,946 | | | $ | 40,797 | | | $ | 38,946 | | | $ | 40,797 | |
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