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LOANS AND LEASES, NET
 3 Months Ended
Dec. 31, 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)December 31, 2022September 30, 2022
Term lending$1,160,100 $1,090,289 
Asset based lending359,516 351,696 
Factoring338,594 372,595 
Lease financing189,868 210,692 
Insurance premium finance436,977 479,754 
SBA/USDA357,084 359,238 
Other commercial finance164,734 159,409 
Commercial finance3,006,873 3,023,673 
Consumer credit products130,750 144,353 
Other consumer finance56,180 25,306 
Consumer finance186,930 169,659 
Tax services30,364 9,098 
Warehouse finance279,899 326,850 
Total loans and leases3,504,066 3,529,280 
Net deferred loan origination costs5,664 7,025 
Total gross loans and leases3,509,730 3,536,305 
Allowance for credit losses(52,592)(45,947)
Total loans and leases, net$3,457,138 $3,490,358 

During the three months ended December 31, 2022 and 2021, the Company originated $398.8 million and $385.6 million of consumer finance and SBA/USDA as held for sale, respectively.

The Company sold held for sale loans resulting in proceeds of $402.9 million and gain on sale of $0.1 million during the three months ended December 31, 2022. The Company sold held for sale loans resulting in proceeds of $562.7 million and loss on sale of $4.4 million during the three months ended December 31, 2021.
Loans purchased and sold by portfolio segment, including participation interests, were as follows:
Three Months Ended December 31,
(Dollars in thousands)20222021
Loans Purchased
Loans held for investment:
Commercial finance$— $1,720 
Warehouse finance67,649 55,993 
Total purchases$67,649 $57,713 
Loans Sold
Loans held for sale:
Commercial finance$855 $33,023 
Consumer finance402,015 376,444 
Community banking— 153,222 
Loans held for investment:
Community banking— 30,235 
Total sales$402,870 $592,924 

Leasing Portfolio. The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in thousands)December 31, 2022September 30, 2022
Carrying amount$194,480 $216,880 
Unguaranteed residual assets12,363 13,037 
Unamortized initial direct costs247 295 
Unearned income(16,975)(19,225)
Total net investment in direct financing and sales-type leases$190,115 $210,987 

Undiscounted future minimum lease payments receivable for direct financing and sales-type leases, and a reconciliation to the carrying amount recorded at December 31, 2022 were as follows:
(Dollars in thousands)
Remaining in 2023$68,633 
202466,589 
202536,218 
202614,037 
20276,658 
Thereafter2,345 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases194,480 
Third-party residual value guarantees— 
Total carrying amount of direct financing and sales-type leases$194,480 

The Company did not record any contingent rental income from direct financing and sales-type leases in the three months ended December 31, 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 December 31, 2022
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$24,621 $3,671 $(1,817)$277 $26,752 
Asset based lending1,050 2,853 — — 3,903 
Factoring6,556 (764)(121)3 5,674 
Lease financing5,902 (438)(406)180 5,238 
Insurance premium finance1,450 (47)(185)43 1,261 
SBA/USDA3,263 (651)— 20 2,632 
Other commercial finance1,310 2,046 — — 3,356 
Commercial finance44,152 6,670 (2,529)523 48,816 
Consumer credit products1,400 (137)— — 1,263 
Other consumer finance63 1,740 (179)— 1,624 
Consumer finance1,463 1,603 (179)— 2,887 
Tax services5 1,637 (1,731)698 609 
Warehouse finance327 (47)— — 280 
Total loans and leases45,947 9,863 (4,439)1,221 52,592 
Unfunded commitments(1)
366 (87)— — 279 
Total $46,313 $9,776 $(4,439)$1,221 $52,871 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Three Months Ended December 31, 2021
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$29,351 $(858)$(2,085)$314 $26,722 
Asset based lending1,726 911 (16)137 2,758 
Factoring3,997 12,502 (1,275)18 15,242 
Lease financing7,629 (822)(16)66 6,857 
Insurance premium finance1,394 (270)(177)97 1,044 
SBA/USDA2,978 233 (217)2 2,996 
Other commercial finance1,168 181 — — 1,349 
Commercial finance48,243 11,877 (3,786)634 56,968 
Consumer credit products1,242 385 — — 1,627 
Other consumer finance6,112 1,560 (819)107 6,960 
Consumer finance7,354 1,945 (819)107 8,587 
Tax services2 (714)(254)2,567 1,601 
Warehouse finance420 47 — — 467 
Community banking12,262 (12,684)— 422 — 
Total loans and leases68,281 471 (4,859)3,730 67,623 
Unfunded commitments(1)
690 (285)— — 405 
Total $68,971 $186 $(4,859)$3,730 $68,028 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.

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 December 31, 2022At September 30, 2022
Term lending$2,847 $2,885 
Asset based lending10,363 — 
Factoring— 550 
Lease financing3,153 2,787 
SBA/USDA1,151 1,199 
Commercial finance(1)
17,514 7,421 
Total$17,514 $7,421 
(1) For commercial finance, collateral dependent financial assets have collateral in the form of cash, equipment, or other business assets.

Management has identified certain structured finance credits for alternative energy projects in which a substantial cash collateral account has been established to mitigate credit risk. Due to the nature of the transactions and significant cash collateral positions, these credits are evaluated individually. The balance of these pass rated cash collateral loans totaled $153.0 million and $120.7 million at December 31, 2022 and at September 30, 2022, respectively.

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, 120 days or more for consumer credit products and leases, and 90 days or more for 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 refund 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 $186.9 million and $30.4 million at December 31, 2022, respectively, and $169.7 million and $9.1 million at September 30, 2022, 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 December 31, 202220232022202120202019Prior
Term lending
Pass$232,029 $334,377 $155,092 $103,243 $28,013 $33,853 $— $886,607 
Watch21,397 44,223 63,767 7,737 8,304 1,038 — 146,466 
Special Mention1,184 7,409 20,822 11,018 682 622 — 41,737 
Substandard2,741 24,094 22,333 23,005 6,757 3,409 — 82,339 
Doubtful— 993 832 676 389 61 — 2,951 
Total257,351 411,096 262,846 145,679 44,145 38,983 — 1,160,100 
Asset based lending
Pass— — — — — — 143,772 143,772 
Watch— — — — — — 166,726 166,726 
Special Mention— — — — — — 27,796 27,796 
Substandard— — — — — — 21,222 21,222 
Total— — — — — — 359,516 359,516 
Factoring
Pass— — — — — — 236,882 236,882 
Watch— — — — — — 78,018 78,018 
Special Mention— — — — — — 10,658 10,658 
Substandard— — — — — — 13,036 13,036 
Total— — — — — — 338,594 338,594 
Lease financing
Pass6,090 24,003 37,972 45,399 3,600 3,511 — 120,575 
Watch2,958 12,272 10,154 6,760 7,808 612 — 40,564 
Special Mention— — 1,516 754 1,136 130 — 3,536 
Substandard— 8,452 6,607 4,765 4,600 100 — 24,524 
Doubtful— — 232 262 — 175 — 669 
Total9,048 44,727 56,481 57,940 17,144 4,528 — 189,868 
Insurance premium finance
Pass191,200 243,138 115 22 — — — 434,475 
Watch— 1,349 — — — — — 1,349 
Special Mention— 508 — — — — — 508 
Substandard— 375 3 — — — — 378 
Doubtful— 264 3 — — — — 267 
Total191,200 245,634 121 22 — — — 436,977 
SBA/USDA
Pass4,346 196,049 35,798 58,948 9,770 19,273 — 324,184 
Watch— — — 56 2,985 3,939 — 6,980 
Special Mention— — — — 210 — — 210 
Substandard— — 66 6,943 8,494 10,207 — 25,710 
Total4,346 196,049 35,864 65,947 21,459 33,419 — 357,084 
Other commercial finance
Pass23 25,899 39,156 27,228 21,490 17,396 — 131,192 
Watch1,350 — — — — — — 1,350 
Substandard2,860 — 29,070 — — 262 — 32,192 
Total4,233 25,899 68,226 27,228 21,490 17,658 — 164,734 
Warehouse finance
Pass— — — — — — 279,899 279,899 
Total— — — — — — 279,899 279,899 
Total loans and leases
Pass433,688 823,466 268,133 234,840 62,873 74,033 660,553 2,557,586 
Watch25,705 57,844 73,921 14,553 19,097 5,589 244,744 441,453 
Special Mention1,184 7,917 22,338 11,772 2,028 752 38,454 84,445 
Substandard5,601 32,921 58,079 34,713 19,851 13,978 34,258 199,401 
Doubtful— 1,257 1,067 938 389 236 — 3,887 
Total$466,178 $923,405 $423,538 $296,816 $104,238 $94,588 $978,009 $3,286,772 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202220222021202020192018Prior
Term lending
Pass$246,627 $240,018 $105,170 $60,417 $89,072 $61,229 $— $802,533 
Watch45,539 24,318 45,052 11,698 21,077 9,799 — 157,483 
Special Mention9,500 24,885 14,300 2,861 619 242 — 52,407 
Substandard10,627 16,694 12,248 23,266 10,457 2,255 — 75,547 
Doubtful175 407 469 872 204 192 — 2,319 
Total312,468 306,322 177,239 99,114 121,429 73,717 — 1,090,289 
Asset based lending
Pass— — — — — — 154,494 154,494 
Watch— — — — — — 162,990 162,990 
Special Mention— — — — — — 13,770 13,770 
Substandard— — — — — — 20,442 20,442 
Total— — — — — — 351,696 351,696 
Factoring
Pass— — — — — — 254,883 254,883 
Watch— — — — — — 86,219 86,219 
Special Mention— — — — — — 9,174 9,174 
Substandard— — — — — — 22,319 22,319 
Total— — — — — — 372,595 372,595 
Lease financing
Pass7,407 38,818 31,408 26,552 12,361 823 — 117,369 
Watch8,799 17,098 10,284 6,655 2,899 151 — 45,886 
Special Mention151 6,151 2,644 481 2,876 2,811 — 15,114 
Substandard825 9,486 11,819 7,273 1,245 — — 30,648 
Doubtful144 163 1,280 88 — — — 1,675 
Total17,326 71,716 57,435 41,049 19,381 3,785 — 210,692 
Insurance premium finance
Pass478,504 307 8 — — — — 478,819 
Watch539 7 — — — — — 546 
Special Mention169 40 — — — — — 209 
Substandard106 46 — — — — — 152 
Doubtful14 14 — — — — — 28 
Total479,332 414 8 — — — — 479,754 
SBA/USDA
Pass54,512 111,907 40,474 56,538 28,874 24,305 — 316,610 
Watch— 13,836 1,266 702 — 710 — 16,514 
Special Mention— 211 — 869 — — — 1,080 
Substandard4,149 10,968 4,278 — 1,094 4,545 — 25,034 
Total58,661 136,922 46,018 58,109 29,968 29,560 — 359,238 
Other commercial finance
Pass5,886 13,607 26,040 20,458 23,098 40,782 — 129,871 
Substandard— 9,538 — — — 20,000 — 29,538 
Total5,886 23,145 26,040 20,458 23,098 60,782 — 159,409 
Warehouse finance
Pass— — — — — — 294,350 294,350 
Special Mention— — — — — — 32,500 32,500 
Total— — — — — — 326,850 326,850 
Total loans and leases
Pass792,936 404,657 203,100 163,965 153,405 127,139 703,727 2,548,929 
Watch54,877 55,259 56,602 19,055 23,976 10,660 249,209 469,638 
Special Mention9,820 31,287 16,944 4,211 3,495 3,053 55,444 124,254 
Substandard15,707 46,732 28,345 30,539 12,796 26,800 42,761 203,680 
Doubtful333 584 1,749 960 204 192 — 4,022 
Total$873,673 $538,519 $306,740 $218,730 $193,876 $167,844 $1,051,141 $3,350,523 
Past due loans and leases were as follows:
(Dollars in thousands)Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
At December 31, 202230-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$— $— $— $— $17,148 $17,148 $— $— $— 
Term lending12,706 8,917 10,715 32,338 1,127,762 1,160,100 7,180 8,694 15,874 
Asset based lending— — — — 359,516 359,516 — 10,363 10,363 
Factoring— — — — 338,594 338,594 — 705 705 
Lease financing4,012 1,690 3,228 8,930 180,938 189,868 3,016 3,912 6,928 
Insurance premium finance2,969 1,122 3,085 7,176 429,801 436,977 3,085 — 3,085 
SBA/USDA287 — 252 539 356,545 357,084 — 1,403 1,403 
Other commercial finance— — — — 164,734 164,734 — — — 
Commercial finance19,974 11,729 17,280 48,983 2,957,890 3,006,873 13,281 25,077 38,358 
Consumer credit products2,719 2,485 2,424 7,628 123,122 130,750 2,429 — 2,429 
Other consumer finance38 48 69 155 56,025 56,180 64 — 64 
Consumer finance2,757 2,533 2,493 7,783 179,147 186,930 2,493 — 2,493 
Tax services— — — — 30,364 30,364 — — — 
Warehouse finance— — — — 279,899 279,899 — — — 
Total loans and leases held for investment22,731 14,262 19,773 56,766 3,447,300 3,504,066 15,774 25,077 40,851 
Total loans and leases$22,731 $14,262 $19,773 $56,766 $3,464,448 $3,521,214 $15,774 $25,077 $40,851 
(Dollars in thousands)Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
At September 30, 202230-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$— $— $— $— $21,071 $21,071 $— $— $— 
Term lending14,066 2,576 4,458 21,100 1,069,189 1,090,289 2,035 7,576 9,611 
Asset based lending— — 68 68 351,628 351,696 39 29 68 
Factoring— — — — 372,595 372,595 — 569 569 
Lease financing8,265 2,253 1,714 12,232 198,460 210,692 440 3,750 4,190 
Insurance premium finance2,550 1,379 1,628 5,557 474,197 479,754 1,628 — 1,628 
SBA/USDA— — — — 359,238 359,238 — 1,451 1,451 
Other commercial finance— — — — 159,409 159,409 — — — 
Commercial finance24,881 6,208 7,868 38,957 2,984,716 3,023,673 4,142 13,375 17,517 
Consumer credit products3,209 2,558 2,669 8,436 135,917 144,353 2,669 — 2,669 
Other consumer finance113 51 124 288 25,018 25,306 124 — 124 
Consumer finance3,322 2,609 2,793 8,724 160,935 169,659 2,793 — 2,793 
Tax services— — 8,873 8,873 225 9,098 8,873 — 8,873 
Warehouse finance— — — — 326,850 326,850 — — — 
Total loans and leases held for investment28,203 8,817 19,534 56,554 3,472,726 3,529,280 15,808 13,375 29,183 
Total loans and leases$28,203 $8,817 $19,534 $56,554 $3,493,797 $3,550,351 $15,808 $13,375 $29,183 
Nonaccrual loans and leases by year of origination were as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
At December 31, 202220232022202120202019Prior
Term lending$— $1,454 $1,783 $1,627 $3,691 $139 $— $8,694 $2,847 
Asset based lending— — — — — — 10,363 10,363 — 
Factoring— — — — — — 705 705 — 
Lease financing— — 804 1,188 1,736 184 — 3,912 713 
SBA/USDA— — — 1,151 — 252 — 1,403 1,151 
Commercial finance— 1,454 2,587 3,966 5,427 575 11,068 25,077 4,711 
Total nonaccrual loans and leases$— $1,454 $2,587 $3,966 $5,427 $575 $11,068 $25,077 $4,711 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
At September 30, 202220222021202020192018Prior
Term lending$251 $1,110 $1,964 $989 $3,096 $166 $— $7,576 $2,885 
Asset based lending— — — — — — 29 29 — 
Factoring— — — — — — 569 569 550 
Lease financing977 310 2,442 13 8 — — 3,750 — 
SBA/USDA— — 1,199 — — 252 — 1,451 1,199 
Commercial finance1,228 1,420 5,605 1,002 3,104 418 598 13,375 4,634 
Total nonaccrual loans and leases$1,228 $1,420 $5,605 $1,002 $3,104 $418 $598 $13,375 $4,634 

Loans and leases that are 90 days or more delinquent and accruing by year of origination were as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At December 31, 202220232022202120202019Prior
Term lending$— $358 $6,136 $472 $170 $44 $— $7,180 
Lease financing— 2,754 75 126 40 21 — 3,016 
Insurance premium finance— 3,073 7 5 — — — 3,085 
Commercial finance— 6,185 6,218 603 210 65 — 13,281 
Consumer credit products— 1,816 535 29 44 — 5 2,429 
Other consumer finance— — — — — — 64 64 
Consumer finance— 1,816 535 29 44 — 69 2,493 
Total 90 days or more delinquent and accruing$— $8,001 $6,753 $632 $254 $65 $69 $15,774 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202220222021202020192018Prior
Term lending$207 $720 $716 $130 $70 $192 $— $2,035 
Asset based lending— — — — — — 39 39 
Lease financing8 158 98 131 45 — — 440 
Insurance premium finance1,513 110 5 — — — — 1,628 
Commercial finance1,728 988 819 261 115 192 39 4,142 
Consumer credit products2,123 481 42 23 — — — 2,669 
Other consumer finance— 124 — — — — — 124 
Consumer finance2,123 605 42 23 — — — 2,793 
Tax services8,873 — — — — — — 8,873 
Total 90 days or more delinquent and accruing$12,724 $1,593 $861 $284 $115 $192 $39 $15,808 

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.

The following table provides the average recorded investment in nonaccrual loans and leases:
Three Months Ended December 31,
(Dollars in thousands)20222021
Term lending$8,796 $13,922 
Asset based lending4,272 4,011 
Factoring708 12,247 
Lease financing3,623 3,033 
SBA/USDA1,420 216 
Commercial finance18,819 33,429 
Total loans and leases$18,819 $33,429 

The recognized interest income on the Company's nonaccrual loans and leases for the three months ended December 31, 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. No loans were modified in a TDR during the three months ended December 31, 2022. There were $10.1 million of commercial finance loans and $0.1 million of consumer finance loans that were modified in a TDR during the three months ended December 31, 2021, all of which were modified to extend the term of the loan.

During the three months ended December 31, 2022, the Company had $0.1 million of commercial finance loans that were modified in a TDR within the previous 12 months and for which there was a payment default. During the three months ended December 31, 2021, the Company had $2.3 million of commercial finance loans and $0.5 million of consumer finance 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 three months ended December 31, 2022 and December 31, 2021.