Segment Financial Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Financial Information

Segment Financial Information

The Company discloses segment information in accordance with ASC Topic 280. ASC Topic 280 requires companies to determine segments based on how Management makes decisions about allocating resources to segments and measuring their performance.

The Company has nine divisions which comprise its operations. Each division consists of branch offices that are aggregated based on vice president responsibility and geographic location. Division I consists of offices located in South Carolina. Offices in North Georgia comprises Division II, Division III consists of offices in South Georgia and Division IX consists of offices in West Georgia. Division IV represents our Alabama offices, Division V represents our Mississippi offices, Division VI represents our Virginia offices, Division VII represents our Kentucky and Tennessee branch offices and Division VIII represents our Louisiana and Texas offices.

Accounting policies of each of the divisions are the same as those for the Company as a whole. Performance is measured based on objectives set at the beginning of each year and include various factors such as division profit, growth in earning assets and delinquency and loan loss management. All division revenues result from transactions with third parties. The Company does not allocate income taxes or corporate headquarter expenses to the divisions.

Below is a performance recap of each of the Company’s divisions for the three-month period ended March 31, 2023, and 2022, followed by a reconciliation to consolidated Company data.

	Division I				Division II		Division III		Division IV		Division V		Division VI		Division VII		Division VIII		Division IX		Total
	(in thousands)
Division Revenues:
3 Months Ended 03/31/2023	$	10,962			$	10,445	$	10,916	$	11,978	$	8,648	$	19	$	8,747	$	8,559	$	9,397	$	79,671
3 Months Ended 03/31/2022	$	10,509			$	10,207	$	10,838	$	11,955	$	8,303	$	—	$	7,464	$	7,828	$	9,032	$	76,136
Division Profit:
3 Months Ended 03/31/2023	$	1,466			$	2,754	$	3,647	$	1,930	$	1,263	$	(36)	$	449	$	439	$	1,908	$	13,820
3 Months Ended 03/31/2022	$	3,717			$	4,388	$	4,653	$	4,676	$	3,013	$	—	$	2,050	$	2,168	$	3,235	$	27,900
Division Assets:
03/31/2023	$	117,227			$	249,237	$	262,463	$	149,308	$	79,505	$	208	$	24,721	$	43,289	$	252,494	$	1,178,452
12/31/2022	$	117,867	$	—	$	250,526	$	263,495	$	150,290	$	80,822	$	244	$	25,861	$	45,287	$	253,630	$	1,188,022

	3 Months Ended 03/31/2023		3 Months Ended 03/31/2022
	(in 000’s)		(in 000’s)
Reconciliation of Revenues:
Total revenues from reportable divisions	$	79,671	$	76,136
Corporate finance charges earned, not allocated to divisions	41		22
Corporate investment income earned, not allocated to divisions	2,412		1,961
Timing difference of insurance income allocation to divisions	2,126		3,594
Other revenue not allocated to divisions	61		2
Consolidated Revenues (1)	$	84,311	$	81,715
	3 Months Ended 03/31/2023		3 Months Ended 03/31/2022
	(in 000’s)		(in 000’s)
Reconciliation of Profit:
Profit per division	$	13,820	$	27,900
Corporate earnings not allocated	4,640		5,579
Corporate expenses not allocated	(24,197)		(26,678)
Consolidated Income Before Income Taxes	$	(5,737)	$	6,801

(1) Includes Finance Charge Income, Investment Income, Insurance Premium Revenues and Other Revenue.