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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 79,135 $ 75,681
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion, net 3,785 2,785
Provision for credit losses 9,323 1,551
Deferred income tax expense 19,590 0
Income from accretion of discount associated with Loans at amortized cost, net (18,897) (17,408)
Income from merchant fees associated with Loans at fair value (112,970) (101,501)
Changes in fair value of loans 549,161 505,505
Amortization of debt issuance costs 8,491 4,886
Stock-based compensation costs 2,969 2,870
Lease liability payments (2,253) (1,116)
Changes in assets and liabilities:    
Increase in uncollected fees on earning assets (186,886) (173,459)
(Decrease) increase in income tax liability (202) 20,487
(Decrease) increase in accounts payable and accrued expenses (1,026) 4,957
Other (3,417) 1,412
Net cash provided by operating activities 346,803 326,650
Investing activities    
Proceeds from recoveries on charged off receivables 33,843 41,414
Investments in earning assets (2,002,048) (1,860,302)
Proceeds from earning assets 1,397,362 1,361,788
Purchases and development of property (193) (3,909)
Net cash used in investing activities (571,036) (461,009)
Financing activities    
Noncontrolling interests contributions 3 4
Noncontrolling interests distributions (148) 0
Proceeds from issuance of Series B preferred stock, net of issuance costs 1,071 1,118
Preferred stock and preferred unit dividends (19,738) (18,650)
Proceeds from exercise of stock options 71 3,090
Purchase and retirement of outstanding stock and preferred units (27,640) (14,363)
Proceeds from issuance of Senior notes, net of issuance costs 124,076 0
Proceeds from borrowings 629,134 671,951
Repayment of borrowings (481,540) (541,964)
Net cash provided by financing activities 225,289 101,186
Effect of exchange rate changes on cash and cash equivalents and restricted cash 0 3
Net increase (decrease) in cash and cash equivalents and restricted cash 1,056 (33,170)
Cash and cash equivalents and restricted cash at beginning of period 383,653 433,192
Cash and cash equivalents and restricted cash at end of period 384,709 400,022
Cash and cash equivalents, and restricted cash at end of period    
Unrestricted cash and cash equivalents 308,651 355,707
Restricted cash and cash equivalents 76,058 44,315
Cash and cash equivalents, and restricted cash at end of period 384,709 400,022
Supplemental cash flow information    
Cash paid for interest 104,983 70,709
Net cash income tax payments 187 1,685
Accretion of discount associated with issuance of subsidiary equity 225 225
Decrease in accrued and unpaid preferred stock and preferred unit dividends $ (1,047) $ (2)