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Loans Receivable (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of the Components of Loans Receivable, Net

The following is a summary of the Company’s loans receivable, net:

			December 31,
(In Thousands)			2021						2020
Loans Receivable, Gross			$	172,615					$	131,422
Unamortized Fees			(12,511)						(10,147)
Loans Receivable, Amortized Cost			160,104						121,275
Allowance for Loan Losses			(40,789)						(42,127)
Loans Receivable, Net of Allowances and Unamortized Fees1			$	119,315					$	79,148

1 Loans Receivable, Net of Allowances and Unamortized Fees attributable to Four was $1.5 million and zero as of December 31, 2021 and 2020, respectively.

Loan Portfolio Credit Quality Indicators

Below is a summary of the credit quality of the Company’s loan portfolio as of December 31, 2021 and 2020 by FICO score as determined at the time of loan origination:

			December 31,
FICO Score Category			2021						2020
600 or Less			7.7		%				7.5		%
Between 600 and 700			78.0		%				79.3		%
700 or Greater			12.7		%				13.2		%
No Score Identified			1.6		%				—		%

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, 2021			2021						2020						2019						2018						2017						Prior						Total
FICO Score Category:
600 or Less			$	9,353					$	2,459					$	700					$	209					$	35					$	29					$	12,785
Between 600 and 700			86,487						25,350						7,506						2,409						1,667						1,524						124,943
700 or Greater			14,886						3,146						737						432						248						388						19,837
No Score Identified			2,539						—						—						—						—						—						2,539
Total Amortized Cost			$	113,265					$	30,955					$	8,943					$	3,050					$	1,950					$	1,941					$	160,104

Aging of the Loans Receivable Balance

Included in the table below is an aging of the loans receivable, gross balance:

(Dollar Amounts in Thousands)			December 31,
Aging Category			2021						2020
30-59 Days Past Due			6.3		%				5.7		%
60-89 Days Past Due			3.1		%				2.6		%
90 or More Days Past Due			4.0		%				3.1		%
Past Due Loans Receivable			13.4		%				11.4		%
Current Loans Receivable			86.6		%				88.6		%
Balance of Credit Card Loans on Nonaccrual Status			$	3,527					$	1,962
Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees			$	—					$	—

Allowance for Loan Losses

The table below presents the components of the allowance for loan losses:

			Year Ended December 31,
(In Thousands)			2021						2020
Beginning Balance			$	42,127					$	14,911
CECL Transition Adjustment1			—						9,463
Provision for Loan Losses			17,668						34,038
Charge-offs			(22,881)						(19,504)
Recoveries			3,875						3,219
Ending Balance			$	40,789					$	42,127

1 Upon the January 1, 2020 adoption of CECL as 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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Tabular disclosure of allowance for credit loss on financing receivable.

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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