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LOANS AND LEASES, NET
 9 Months Ended
Jun. 30, 2022
Loans and Leases Receivable Disclosure [Abstract]  
LOANS AND LEASES, NET LOANS AND LEASES, NET
Loans and leases consist of the following:
(Dollars in thousands)June 30, 2022September 30, 2021
Term lending$1,047,764 $961,019 
Asset based lending402,506 300,225 
Factoring408,777 363,670 
Lease financing218,789 266,050 
Insurance premium finance481,219 428,867 
SBA/USDA215,510 247,756 
Other commercial finance173,338 157,908 
Commercial finance2,947,903 2,725,495 
Consumer credit products152,106 129,251 
Other consumer finance107,135 123,606 
Consumer finance259,241 252,857 
Tax services41,627 10,405 
Warehouse finance434,748 419,926 
Community banking— 199,132 
Total loans and leases3,683,519 3,607,815 
Net deferred loan origination costs5,047 1,748 
Total gross loans and leases3,688,566 3,609,563 
Allowance for credit losses(75,206)(68,281)
Total loans and leases, net$3,613,360 $3,541,282 

During the nine months ended June 30, 2022, the Company transferred $169.0 million of Community Banking loans to held for sale. During the nine months ended June 30, 2021, the Company transferred $118.0 million of Community Banking loans to held for sale.

During the nine months ended June 30, 2022 and 2021, the Company originated $769.7 million and $472.9 million of consumer finance and SBA/USDA as held for sale, respectively.

The Company sold held for sale loans resulting in proceeds of $898.4 million and loss on sale of $3.9 million during the nine months ended June 30, 2022. The Company sold held for sale loans resulting in proceeds of $694.1 million and gains on sale of $9.8 million during the nine months ended June 30, 2021.

In connection with the Company's sale of the Bank's Community Bank division to Central Bank, the Company entered into a servicing agreement with Central Bank for the retained Community Bank loan portfolio that became effective on February 29, 2020 (the "Closing Date"). The Company recognized $0.2 million and $2.2 million in servicing fee expense during the nine months ended June 30, 2022 and 2021, respectively, and $3.3 million for the fiscal year ended September 30, 2021.
Since the Closing Date, the Company has entered into subsequent loan portfolio sale agreements with Central Bank and other third parties. The Company sold additional loans from the retained Community Bank portfolio in the amount of $192.5 million and $233.0 million in the nine months ended June 30, 2022 and 2021, respectively, and $308.1 million for the fiscal year ended September 30, 2021. All loans from the retained Community Bank portfolio have been sold as of December 31, 2021.

Loans purchased and sold by portfolio segment, including participation interests, were as follows:
Three Months Ended June 30,Nine Months Ended June 30,
(Dollars in thousands)2022202120222021
Loans Purchased
Loans held for investment:
Commercial finance$— $— $3,098 $— 
Warehouse finance19,657 46,153 105,472 142,389 
Community banking— 403 — 3,250 
Total purchases$19,657 $46,556 $108,570 $145,639 
Loans Sold
Loans held for sale:
Commercial finance$1,216 $45,695 $48,329 $81,996 
Consumer finance173,284 72,437 696,891 382,382 
Community banking— — 153,222 232,979 
Loans held for investment:
Commercial finance— — 15,549 — 
Community banking— 1,816 30,235 13,822 
Total sales$174,500 $119,948 $944,226 $711,179 

Leasing Portfolio. The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in thousands)June 30, 2022September 30, 2021
Carrying amount$226,347 $278,341 
Unguaranteed residual assets11,862 14,393 
Unamortized initial direct costs348 490 
Unearned income(19,420)(26,684)
Total net investment in direct financing and sales-type leases$219,137 $266,540 

Undiscounted future minimum lease payments receivable for direct financing and sales-type leases, and a reconciliation to the carrying amount recorded at June 30, 2022 were as follows:
(Dollars in thousands)
Remaining in 2022$24,394 
202393,511 
202462,678 
202530,942 
202610,471 
Thereafter4,351 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases226,347 
Third-party residual value guarantees— 
Total carrying amount of direct financing and sales-type leases$226,347 

The Company did not record any contingent rental income from direct financing and sales-type leases in the nine months ended June 30, 2022.
The COVID-19 pandemic began impacting the U.S. and global economies in the first calendar quarter of 2020, with significant deterioration of macroeconomic conditions and markets into 2021. Although macroeconomic conditions and markets have improved since the beginning of 2021, other factors have been affecting the economic environment in 2022 including geopolitical conflict, supply chain disruptions, inflation, and rising interest rates. While the ultimate impact of the pandemic and these other factors on the Company's loan and lease portfolio remains difficult to predict, management continues to evaluate the loan and lease portfolio in order to assess the impact on repayment sources and underlying collateral that could result in additional losses and the impact to our customers and businesses as a result of COVID-19 and other factors impacting the economy and will refine its estimate as developments occur and more information becomes available.

Activity in the allowance for credit losses and balances of loans and leases by portfolio segment was as follows:
Three Months Ended June 30, 2022
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$27,568 $9 $(3,086)$1,316 $25,807 
Asset based lending2,583 (1,553)— 295 1,325 
Factoring6,526 533 (194)268 7,133 
Lease financing6,471 (429)— 107 6,149 
Insurance premium finance1,057 583 (230)41 1,451 
SBA/USDA2,943 338 (408)25 2,898 
Other commercial finance1,197 (79)— — 1,118 
Commercial finance48,345 (598)(3,918)2,052 45,881 
Consumer credit products1,621 (170)— — 1,451 
Other consumer finance7,388 (205)(2,428)88 4,843 
Consumer finance9,009 (375)(2,428)88 6,294 
Tax services30,757 (166)(7,998)6 22,599 
Warehouse finance441 (9)— — 432 
Total loans and leases88,552 (1,148)(14,344)2,146 75,206 
Unfunded commitments(1)
551 (154)— — 397 
Total $89,103 $(1,302)$(14,344)$2,146 $75,603 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Three Months Ended June 30, 2021
(Dollars in thousands)Beginning Balance
Provision (Reversal)(2)
Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$27,315 $1,199 $(1,998)$515 $27,031 
Asset based lending1,749 21 — 212 1,982 
Factoring3,210 33 1 17 3,261 
Lease financing6,863 842 (916)130 6,919 
Insurance premium finance1,326 (1,200)(120)1,583 1,589 
SBA/USDA3,300 (171)— — 3,129 
Other commercial finance541 183 — — 724 
Commercial finance44,304 907 (3,033)2,457 44,635 
Consumer credit products990 21 — — 1,011 
Other consumer finance10,093 (180)(2,327)57 7,643 
Consumer finance11,083 (159)(2,327)57 8,654 
Tax services29,146 4,685 (9,505)17 24,343 
Warehouse finance332 — — — 332 
Community banking14,027 (783)— — 13,244 
Total loans and leases98,892 4,650 (14,865)2,531 91,208 
Unfunded commitments(1)
779 (38)— — 741 
Total $99,671 $4,612 $(14,865)$2,531 $91,949 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
(2) As a result of the adoption of CECL, effective October 1, 2020, the provision for credit losses includes the provision for unfunded commitments that was previously included within other noninterest expense.

Nine Months Ended June 30, 2022
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$29,351 $1,104 $(6,993)$2,345 $25,807 
Asset based lending1,726 (817)(16)432 1,325 
Factoring3,997 13,857 (11,057)336 7,133 
Lease financing7,629 (1,647)(112)279 6,149 
Insurance premium finance1,394 374 (514)197 1,451 
SBA/USDA2,978 517 (624)27 2,898 
Other commercial finance1,168 (50)— — 1,118 
Commercial finance48,243 13,338 (19,316)3,616 45,881 
Consumer credit products1,242 209 — — 1,451 
Other consumer finance6,112 2,513 (4,049)267 4,843 
Consumer finance7,354 2,722 (4,049)267 6,294 
Tax services2 28,093 (8,253)2,757 22,599 
Warehouse finance420 12 — — 432 
Community banking12,262 (12,686)— 424 — 
Total loans and leases68,281 31,479 (31,618)7,064 75,206 
Unfunded commitments(1)
690 (293)— — 397 
Total $68,971 $31,186 $(31,618)$7,064 $75,603 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.
Nine Months Ended June 30, 2021
(Dollars in thousands)Beginning BalanceImpact of CECL Adoption
Provision (Reversal)(2)
Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$15,211 $9,999 $8,621 $(7,787)$987 $27,031 
Asset based lending1,406 164 1,399 (1,199)212 1,982 
Factoring3,027 987 (1,928)— 1,175 3,261 
Lease financing7,023 (556)2,375 (2,264)341 6,919 
Insurance premium finance2,129 (965)(609)(925)1,959 1,589 
SBA/USDA940 2,720 (532)— 1 3,129 
Other commercial finance182 364 178 — — 724 
Commercial finance29,918 12,713 9,504 (12,175)4,675 44,635 
Consumer credit products845 — 166 — — 1,011 
Other consumer finance2,821 5,998 1,568 (2,964)220 7,643 
Consumer finance3,666 5,998 1,734 (2,964)220 8,654 
Tax services2 — 32,819 (9,505)1,027 24,343 
Warehouse finance294 (1)39 — — 332 
Community banking22,308 (5,937)(2,983)(144)— 13,244 
Total loans and leases56,188 12,773 41,113 (24,788)5,922 91,208 
Unfunded commitments(1)
32 831 (122)— — 741 
Total $56,220 $13,604 $40,991 $(24,788)$5,922 $91,949 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.
(2) As a result of the adoption of CECL, effective October 1, 2020, the provision for credit losses includes the provision for unfunded commitments that was previously included within other noninterest expense.

Information on loans and leases that are deemed to be collateral dependent and are evaluated individually for the ACL was as follows:
(Dollars in thousands)At June 30, 2022At September 30, 2021
Term lending$65,998 $20,965 
Asset based lending5,992 — 
Factoring27,333 1,268 
Lease financing11,684 3,882 
SBA/USDA1,249 — 
Commercial finance(1)
112,256 26,115 
Community banking— 14,915 
Total$112,256 $41,030 
(1) For commercial finance, collateral dependent financial assets have collateral in the form of cash, equipment, or other business assets.

In response to the ongoing COVID-19 pandemic, the Company allowed modifications, such as payment deferrals and temporary forbearances, to credit-worthy borrowers who are experiencing temporary hardship due to the effects of COVID-19. Up to January 1, 2022, when this relief ended, if all payments were less than 30 days past due prior to the onset of the pandemic effects, the loan or lease will not be reported as past due during the deferral or forbearance period. As of June 30, 2022, $0.1 million of loan and lease balances that were granted deferral payments by the Company were still in their deferment period. These modifications consisted solely of payment deferrals ranging from 30 days to six months. These modifications are in line with applicable regulatory guidelines and, therefore, they are not reported as troubled debt restructurings. Other than the loan modifications that are on nonaccrual status, the Company is accruing and recognizing interest income on these modifications during the payment deferral period.

Federal regulations provide for the classification of loans and other assets such as debt and equity securities considered by the Bank's primary regulator, the Office of the Comptroller of the Currency (the “OCC”), to be of lesser quality as “substandard,” “doubtful” or “loss.” The loan classification and risk rating definitions are as follows:
 
Pass - A pass asset is of sufficient quality in terms of repayment, collateral and management to preclude a special mention or an adverse rating.

Watch - A watch asset is generally a credit performing well under current terms and conditions but with identifiable weakness meriting additional scrutiny and corrective measures. Watch is not a regulatory classification but can be used to designate assets that are exhibiting one or more weaknesses that deserve management’s attention. These assets are of better quality than special mention assets.

Special Mention - A special mention asset is a credit with potential weaknesses deserving management’s close attention and, if left uncorrected, may result in deterioration of the repayment prospects for the asset. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Special mention is a temporary status with aggressive credit management required to garner adequate progress and move to watch or higher.
 
The adverse classifications are as follows:
 
Substandard - A substandard asset is inadequately protected by the net worth and/or repayment ability or by a weak collateral position. Assets so classified will have well-defined weaknesses creating a distinct possibility the Bank will sustain some loss if the weaknesses are not corrected. Loss potential does not have to exist for an asset to be classified as substandard.

Doubtful - A doubtful asset has weaknesses similar to those classified substandard, with the degree of weakness causing the likely loss of some principal in any reasonable collection effort. Due to pending factors, the asset’s classification as loss is not yet appropriate.

Loss - A loss asset is considered uncollectible and of such little value that the asset’s continuance on the Bank’s balance sheet is no longer warranted. This classification does not necessarily mean an asset has no recovery or salvage value, leaving room for future collection efforts.

Loans and leases, or portions thereof, are generally charged off when collection of principal becomes doubtful. Typically, this is associated with a delay or shortfall in payments of 210 days or more for commercial insurance premium finance, 180 days or more for the purchased student loan portfolios, 120 days or more for consumer credit products and leases, and 90 days or more for community banking loans and commercial finance loans. Action is taken to charge off electronic return originator ("ERO") loans if such loans have not been collected by the end of June and taxpayer advance loans if such loans have not been collected by the end of the calendar year. Nonaccrual loans and troubled debt restructurings are generally individually evaluated for expected credit losses.

The Company recognizes that concentrations of credit may naturally occur and may take the form of a large volume of related loans and leases to an individual, a specific industry, or a geographic location. Credit concentration is a direct, indirect, or contingent obligation that has a common bond where the aggregate exposure equals or exceeds a certain percentage of the Company’s Tier 1 Capital plus the allowable Allowance for Credit Losses.

The Company has various portfolios of consumer finance and tax services loans that present unique risks that are statistically managed. Due to the unique risks associated with these portfolios, the Company monitors other credit quality indicators in their evaluation of the appropriateness of the allowance for credit losses on these portfolios, and as such, these loans are not included in the asset classification table below. The outstanding balances of consumer finance loans and tax services loans were $259.2 million and $41.6 million at June 30, 2022, respectively, and $252.9 million and $10.4 million at September 30, 2021, respectively. The amortized cost basis of loans and leases by asset classification and year of origination was as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At June 30, 202220222021202020192018Prior
Term lending
Pass$315,012 $233,436 $130,225 $39,691 $28,753 $6,710 $— $753,827 
Watch27,886 92,431 27,741 6,965 2,302 3,968 — 161,293 
Special Mention4,244 14,978 23,514 4,281 1,154 2,972 — 51,143 
Substandard18,744 19,436 25,688 13,185 2,565 97 — 79,715 
Doubtful346 404 465 538 33 — — 1,786 
Total366,232 360,685 207,633 64,660 34,807 13,747 — 1,047,764 
Asset based lending
Pass— — — — — — 223,126 223,126 
Watch— — — — — — 136,315 136,315 
Special Mention— — — — — — 36,909 36,909 
Substandard— — — — — — 6,156 6,156 
Total— — — — — — 402,506 402,506 
Factoring
Pass— — — — — — 287,281 287,281 
Watch— — — — — — 76,517 76,517 
Special Mention— — — — — — 13,858 13,858 
Substandard— — — — — — 31,101 31,101 
Doubtful— — — — — — 20 20 
Total— — — — — — 408,777 408,777 
Lease financing
Pass30,491 50,142 53,187 8,696 5,702 29 — 148,247 
Watch308 7,534 10,514 6,113 645 17 — 25,131 
Special Mention708 13,303 4,775 1,917 236 21 — 20,960 
Substandard— 5,948 11,126 4,409 320 11 — 21,814 
Doubtful— 165 1,207 1,147 118 — — 2,637 
Total31,507 77,092 80,809 22,282 7,021 78 — 218,789 
Insurance premium finance
Pass473,925 6,683 23 2 — — — 480,633 
Watch64 71 — — — — — 135 
Special Mention138 192 — — — — — 330 
Substandard19 28 — — — — — 47 
Doubtful43 31 — — — — — 74 
Total474,189 7,005 23 2 — — — 481,219 
SBA/USDA
Pass65,066 47,690 15,532 10,724 13,748 7,807 — 160,567 
Watch3,077 — 19,513 3,154 1,092 2,883 — 29,719 
Special Mention— — 1,551 212 — 286 — 2,049 
Substandard— — 2,705 8,520 9,695 1,918 — 22,838 
Doubtful— 23 314 — — — — 337 
Total68,143 47,713 39,615 22,610 24,535 12,894 — 215,510 
Other commercial finance
Pass20,261 29,369 865 8,914 2,374 67,248 — 129,031 
Watch— 20,000 13,282 — — — — 33,282 
Substandard164 9,789 — — 265 807 — 11,025 
Total20,425 59,158 14,147 8,914 2,639 68,055 — 173,338 
Warehouse finance
Pass— — — — — — 434,748 434,748 
Total— — — — — — 434,748 434,748 
Total loans and leases
Pass904,755 367,320 199,832 68,027 50,577 81,794 945,155 2,617,460 
Watch31,335 120,036 71,050 16,232 4,039 6,868 212,832 462,392 
Special Mention5,090 28,473 29,840 6,410 1,390 3,279 50,767 125,249 
Substandard18,927 35,201 39,519 26,114 12,845 2,833 37,257 172,696 
Doubtful389 623 1,986 1,685 151 — 20 4,854 
Total$960,496 $551,653 $342,227 $118,468 $69,002 $94,774 $1,246,031 $3,382,651 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202120212020201920182017Prior
Term lending
Pass$362,443 $192,305 $63,708 $34,381 $3,195 $1,236 $— $657,268 
Watch63,046 71,701 32,941 21,419 76 3,628 — 192,811 
Special Mention6,422 26,673 4,821 932 70 633 — 39,551 
Substandard18,569 16,810 26,920 3,529 928 641 — 67,397 
Doubtful252 1,673 1,756 311 — — — 3,992 
Total450,732 309,162 130,146 60,572 4,269 6,138 — 961,019 
Asset based lending
Pass— — — — — — 185,432 185,432 
Watch— — — — — — 52,072 52,072 
Special Mention— — — — — — 43,135 43,135 
Substandard— — — — — — 19,586 19,586 
Total— — — — — — 300,225 300,225 
Factoring
Pass— — — — — — 294,124 294,124 
Watch— — — — — — 17,984 17,984 
Special Mention— — — — — — 33,035 33,035 
Substandard— — — — — — 18,527 18,527 
Total— — — — — — 363,670 363,670 
Lease financing
Pass54,434 73,629 17,153 7,511 1,857 203 — 154,787 
Watch22,061 20,455 9,274 2,739 1,454 — — 55,983 
Special Mention15,402 20,595 4,148 1,546 61 — — 41,752 
Substandard479 4,765 4,981 831 25 — — 11,081 
Doubtful— 6 2,402 38 1 — — 2,447 
Total92,376 119,450 37,958 12,665 3,398 203 — 266,050 
Insurance premium finance
Pass428,131 144 9 — — — — 428,284 
Watch262 5 — — — — — 267 
Special Mention58 5 — — — — — 63 
Substandard68 107 — — — — — 175 
Doubtful58 20 — — — — — 78 
Total428,577 281 9 — — — — 428,867 
SBA/USDA
Pass110,122 37,006 14,461 12,760 6,525 3,779 — 184,653 
Watch— 20,431 1,996 1,670 1,394 298 — 25,789 
Special Mention— 8,333 214 3,348 177 919 — 12,991 
Substandard— 3,812 9,550 8,079 2,169 713 — 24,323 
Total110,122 69,582 26,221 25,857 10,265 5,709 — 247,756 
Other commercial finance
Pass56,957 642 5,786 6,075 3,345 60,965 — 133,770 
Watch— 17,404 3,409 451 — — — 21,264 
Substandard466 — — 273 837 1,299 — 2,875 
Total57,423 18,046 9,195 6,799 4,182 62,264 — 157,909 
Warehouse finance
Pass— — — — — — 419,926 419,926 
Total— — — — — — 419,926 419,926 
Community banking
Pass— — 4,159 — 5,683 472 — 10,314 
Watch— 10,134 — 10,854 6,133 — — 27,121 
Special Mention— — 35,916 — — — — 35,916 
Substandard— 119 49,449 50,626 13,933 6,110 — 120,237 
Doubtful— 122 — 5,422 — — — 5,544 
Total— 10,375 89,524 66,902 25,749 6,582 — 199,132 
Total loans and leases
Pass1,012,088 303,727 105,274 60,727 20,605 66,655 899,481 2,468,557 
Watch85,369 140,131 47,620 37,132 9,057 3,926 70,056 393,291 
Special Mention21,882 55,606 45,099 5,826 307 1,552 76,171 206,443 
Substandard19,584 25,613 90,900 63,338 17,891 8,762 38,113 264,201 
Doubtful310 1,822 4,158 5,770 1 — — 12,061 
Total$1,139,233 $526,899 $293,051 $172,793 $47,861 $80,895 $1,083,821 $3,344,553 

Past due loans and leases were as follows:
At June 30, 2022
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$— $— $— $— $67,571 $67,571 $— $— $— 
Term lending4,882 1,960 3,483 10,325 1,037,439 1,047,764 613 8,965 9,578 
Asset based lending— — — — 402,506 402,506 — 4,508 4,508 
Factoring— — — — 408,777 408,777 — 743 743 
Lease financing8,708 1,584 3,345 13,637 205,152 218,789 1,788 3,844 5,632 
Insurance premium finance1,565 611 803 2,979 478,240 481,219 803 — 803 
SBA/USDA271 — 1,564 1,835 213,675 215,510 315 1,543 1,858 
Other commercial finance— — — — 173,338 173,338 — — — 
Commercial finance15,426 4,155 9,195 28,776 2,919,127 2,947,903 3,519 19,603 23,122 
Consumer credit products3,298 3,039 2,886 9,223 142,883 152,106 2,886 — 2,886 
Other consumer finance510 437 615 1,562 105,573 107,135 615 — 615 
Consumer finance3,808 3,476 3,501 10,785 248,456 259,241 3,501 — 3,501 
Tax services— 41,627 — 41,627 — 41,627 — — — 
Warehouse finance— — — — 434,748 434,748 — — — 
Total loans and leases held for investment19,234 49,258 12,696 81,188 3,602,331 3,683,519 7,020 19,603 26,623 
Total loans and leases$19,234 $49,258 $12,696 $81,188 $3,669,902 $3,751,090 $7,020 $19,603 $26,623 
At September 30, 2021
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$— $— $— $— $56,194 $56,194 $— $— $— 
Term lending11,879 2,703 5,452 20,034 940,985 961,019 2,558 14,904 17,462 
Asset based lending— — — — 300,225 300,225 — — — 
Factoring— — — — 363,670 363,670 — 1,268 1,268 
Lease financing4,909 3,336 8,401 16,646 249,404 266,050 8,345 3,158 11,503 
Insurance premium finance1,415 375 599 2,389 426,478 428,867 599 — 599 
SBA/USDA66 974 987 2,027 245,729 247,756 987 — 987 
Other commercial finance— — — — 157,908 157,908 — — — 
Commercial finance18,269 7,388 15,439 41,096 2,684,399 2,725,495 12,489 19,330 31,819 
Consumer credit products713 527 511 1,751 127,500 129,251 511 — 511 
Other consumer finance963 285 725 1,973 121,633 123,606 725 — 725 
Consumer finance1,676 812 1,236 3,724 249,133 252,857 1,236 — 1,236 
Tax services— — 7,962 7,962 2,443 10,405 7,962 — 7,962 
Warehouse finance— — — — 419,926 419,926 — — — 
Community banking— — — — 199,132 199,132 — 14,915 14,915 
Total loans and leases held for investment19,945 8,200 24,637 52,782 3,555,033 3,607,815 21,687 34,245 55,932 
Total loans and leases$19,945 $8,200 $24,637 $52,782 $3,611,227 $3,664,009 $21,687 $34,245 $55,932 

Nonaccrual loans and leases by year of origination at June 30, 2022 were as follows:
Amortized Cost Basis
Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
(Dollars in thousands)20222021202020192018Prior
Term lending$540 $937 $1,291 $5,800 $300 $97 $— $8,965 $2,922 
Asset based lending— — — — — — 4,508 4,508 4,508 
Factoring— — — — — — 743 743 743 
Lease financing— — 1,286 2,083 464 11 — 3,844 — 
SBA/USDA— 23 1,249 — — 271 — 1,543 — 
Commercial finance540 960 3,826 7,883 764 379 5,251 19,603 8,173 
Total nonaccrual loans and leases$540 $960 $3,826 $7,883 $764 $379 $5,251 $19,603 $8,173 
Loans and leases that are 90 days or more delinquent and accruing by year of origination at June 30, 2022 were as follows:
Amortized Cost Basis
Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
(Dollars in thousands)20222021202020192018Prior
Term lending$285 $203 $85 $1 $— $39 $— $613 
Lease financing601 573 282 128 204 — — 1,788 
Insurance premium finance407 391 5 — — — — 803 
SBA/USDA— — 315 — — — — 315 
Commercial finance1,293 1,167 687 129 204 39 — 3,519 
Consumer credit products258 2,504 63 57 4 — — 2,886 
Other consumer finance— 83 — — — 532 — 615 
Consumer finance258 2,587 63 57 4 532 — 3,501 
Total 90 days or more delinquent and accruing$1,551 $3,754 $750 $186 $208 $571 $— $7,020 

Certain loans and leases 90 days or more past due as to interest or principal continue to accrue because they are (1) well-secured and in the process of collection or (2) consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due.

When analysis of borrower or lessee operating results and financial condition indicates that underlying cash flows of the borrower’s business are not adequate to meet its debt service requirements, the loan or lease is evaluated for impairment. Often, this is associated with a delay or shortfall in scheduled payments, as described above.

The following table provides the average recorded investment in nonaccrual loans and leases:
Three Months Ended June 30,Nine Months Ended June 30,
(Dollars in thousands)2022202120222021
Term lending$11,114 $14,964 $11,908 $14,190 
Asset based lending3,500 127 4,502 591 
Factoring1,903 33 7,980 337 
Lease financing3,529 2,435 3,194 2,994 
SBA/USDA1,776 600 1,152 600 
Commercial finance21,822 18,159 28,736 18,712 
Community banking— 19,801 — 16,144 
Total loans and leases$21,822 $37,960 $28,736 $34,856 

The recognized interest income on the Company's nonaccrual loans and leases for the three and nine months ended June 30, 2022 and 2021 was not significant.

The Company’s troubled debt restructurings ("TDRs") typically involve forgiving a portion of interest or principal on existing loans, making loans at a rate materially less than current market rates, or extending the term of the loan. There were $0.2 million of commercial finance loans and $0.5 million of consumer finance loans that were modified in a TDR during the three months ended June 30, 2022, all of which were modified to extend the term of the loan. There were $3.7 million of commercial finance loans and $0.1 million of consumer finance loans that were modified in a TDR during the three months ended June 30, 2021, all of which were modified to extend the term of the loan, and no community banking loans.

During the nine months ended June 30, 2022, there were $10.4 million of commercial finance loans and $0.7 million of consumer finance loans that were modified in a TDR, all of which were modified to extend the term of the loan. There were $5.9 million of commercial finance loans and $0.2 million of consumer finance loans that were modified in a TDR during the nine months ended June 30, 2021 and no community banking loans.
During the nine months ended June 30, 2022, the Company had $1.4 million of commercial finance loans and $0.3 million of consumer finance loans that were modified in a TDR within the previous 12 months and for which there was a payment default. During the nine months ended June 30, 2021, the Company had $0.4 million of commercial finance loans and $0.1 million of consumer finance loans, and no community banking loans that were modified in a TDR within the previous 12 months and for which there was a payment default. TDR net charge-offs and the impact of TDRs on the Company's allowance for credit losses were insignificant during the nine months ended June 30, 2022 and June 30, 2021.