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Loans Receivable | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Loans Receivables | LOANS RECEIVABLE The following is a summary of the Company’s loans receivable, net:
| December 31,
(In Thousands) | 2020 |  | 2019
Loans Receivable, Gross | $ | 131,422 |  |  | $ | 96,387 |
Unamortized Fees | (10,147) |  |  | (6,223) |
Loans Receivable, Amortized Cost | 121,275 |  |  | 90,164 |
Allowance for Loan Losses | (42,127) |  |  | (14,911) |
Loans Receivable, Net of Allowances and Unamortized Fees | $ | 79,148 |  |  | $ | 75,253 |
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:
(In Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2020 | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
FICO Score Category: |  |  |  |  |  |  |  |  |  |  |  |  |
600 or Less | $ | 7,125 |  |  | $ | 1,792 |  |  | $ | 535 |  |  | $ | 80 |  |  | $ | 54 |  |  | $ | 6 |  |  | $ | 9,592 |
Between 600 and 700 | 64,809 |  |  | 17,529 |  |  | 6,818 |  |  | 4,005 |  |  | 2,417 |  |  | 363 |  |  | 95,941 |
700 or Greater | 11,478 |  |  | 1,795 |  |  | 1,053 |  |  | 695 |  |  | 638 |  |  | 83 |  |  | 15,742 |
Total Amortized Cost | $ | 83,412 |  |  | $ | 21,116 |  |  | $ | 8,406 |  |  | $ | 4,780 |  |  | $ | 3,109 |  |  | $ | 452 |  |  | $ | 121,275 |
Included in the table below is an aging of the loans receivable, gross balance:
(Dollar Amounts in Thousands) | December 31,
Aging Category 1 | 2020 |  | 2019
30-59 Days Past Due | 5.7 | % |  | 6.9 | %
60-89 Days Past Due | 2.6 | % |  | 3.6 | %
90 or more Days Past Due | 3.1 | % |  | 5.0 | %
Past Due Loans Receivable | 11.4 | % |  | 15.5 | %
Current Loans Receivable | 88.6 | % |  | 84.5 | %
Balance of Loans Receivable on Nonaccrual Status | $ | 1,962 |  | $ | 2,284
Balance of Loans Receivable Greater Than 90 Days Past Due and Still Accruing Interest and Fees | $ | — |  |  | $ | — |
1 Customers that were granted a payment deferral due to factors caused by the COVID-19 pandemic maintained their delinquency status for an additional 30 days. This did not materially impact the aging disclosed above. The table below presents the components of the allowance for loan losses:
| Year Ended December 31,
(In Thousands) | 2020 |  | 2019
Beginning Balance | $ | 14,911 |  |  | $ | 12,970 |
CECL Transition Adjustment 1 | 9,463 |  |  | — |
Provision for Loan Losses | 34,038 |  |  | 21,667 |
Charge-offs | (19,504) |  |  | (22,204) |
Recoveries | 3,219 |  |  | 2,478 |
Ending Balance | $ | 42,127 |  |  | $ | 14,911 |
1 Upon the January 1, 2020 adoption of CECL as further described in Note 1 to these consolidated financial statements, the Company increased its allowance for loan losses by $9.5 million. The increase was recorded as a cumulative-effect non-cash adjustment of $6.7 million, net of tax, to the opening balance of the Company's 2020 retained earnings.

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
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