Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans

12 Months Ended

Dec. 31, 2015

Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans [Abstract]

Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans

5. Consumer Loans, Credit Quality Information on Consumer Loans, Allowance and Liability for Estimated Losses on Consumer Loans and Guarantees of Consumer Loans

The components of Company-owned consumer loan portfolio receivables as of December 31, 2015 and 2014 were as follows (dollars in thousands):

	As of December 31,
		2015			2014
Short-term loans
Current loans		$	26,304		$	38,492
Delinquent loans		2,723			4,462
Total consumer loans, gross		29,027			42,954
Less: Allowance for losses		(1,651		)	(2,736		)
Consumer loans, net		$	27,376		$	40,218
Installment loans
Current loans		$	2,027		$	3,486
Delinquent loans		3,133			2,575
Total consumer loans, gross		5,160			6,061
Less: Allowance for losses		(1,245		)	(1,426		)
Consumer loans, net		$	3,915		$	4,635
Total consumer loans
Current loans		$	28,331		$	41,978
Delinquent loans		5,856			7,037
Total consumer loans, gross		34,187			49,015
Less: Allowance for losses		(2,896		)	(4,162		)
Consumer loans, net		$	31,291		$	44,853

Changes in the allowance for losses for the Company-owned loans and the liability for estimated losses on the Company’s guarantees of third-party lender-owned loans through the CSO programs for the years ended December 31, 2015, 2014 and 2013 were as follows (dollars in thousands):

	Year Ended December 31,
		2015			2014			2013
Short-term loans
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period		$	2,736		$	3,960		$	4,039
Consumer loan loss provision		11,733			23,139			27,549
Charge-offs		(18,592		)	(28,956		)	(32,972		)
Recoveries		5,774			4,593			5,344
Balance at end of period		$	1,651		$	2,736		$	3,960
Liability for third-party lender-owned consumer loans:
Balance at beginning of period		$	402		$	272		$	308
Consumer loan loss provision		(372		)	130			(36		)
Balance at end of period		$	30		$	402		$	272
Installment loans
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period		$	1,426		$	951		$	740
Consumer loan loss provision		10,446			7,840			5,652
Charge-offs		(11,797		)	(9,229		)	(6,688		)
Recoveries		1,170			1,864			1,247
Balance at end of period		$	1,245		$	1,426		$	951
Liability for third-party lender-owned consumer loans:
Balance at beginning of period		$	658		$	758		$	564
Consumer loan loss provision		1,298			(100		)	194
Balance at end of period		$	1,956		$	658		$	758
Total consumer loans
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period		$	4,162		$	4,911		$	4,779
Consumer loan loss provision		22,179			30,979			33,201
Charge-offs		(30,389		)	(38,185		)	(39,660		)
Recoveries		6,944			6,457			6,591
Balance at end of period		$	2,896		$	4,162		$	4,911
Liability for third-party lender-owned consumer loans:
Balance at beginning of period		$	1,060		$	1,030		$	872
Consumer loan loss provision		926			30			158
Balance at end of period		$	1,986		$	1,060		$	1,030

In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term loans, unsecured installment loans and the remaining outstanding installment loans that are secured by a customer’s vehicle, which the Company ceased offering in the latter half of 2015. The guarantee represents an obligation to purchase specific loans that go into default. See Note 13 for additional information related to these guarantees.