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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net income $ 110,106 $ 101,954
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion, net 5,187 4,043
Provision for credit losses 16,368 2,152
Deferred income tax expense 30,493 37,825
Income from accretion of discount associated with Loans at amortized cost, net (25,344) (23,375)
Income from merchant fees associated with Loans at fair value (144,344) (123,505)
Changes in fair value of loans 733,471 689,577
Change in bank partner fees carried at fair value 1,448 0
Amortization of debt issuance costs 11,828 7,179
Stock-based compensation costs 3,897 3,783
Changes in assets and liabilities:    
Decrease in lease liability (3,014) (1,871)
Increase in uncollected fees on earning assets (269,914) (247,353)
Increase (decrease) in income tax liability (2,251) (12,688)
(Decrease) increase in accounts payable and accrued expenses 2,535 18,414
Other (1,061) 3,182
Net cash provided by operating activities 469,405 459,317
Investing activities    
Proceeds from recoveries on charged off receivables 44,109 51,578
Investments in earning assets (2,628,894) (2,516,359)
Proceeds from earning assets 1,839,543 1,796,570
Purchases and development of property (1,789) (3,992)
Net cash used in investing activities (747,031) (672,203)
Financing activities    
Noncontrolling interests contributions 53 4
Noncontrolling interests distributions (148) 0
Proceeds from issuance of common stock 7,074 0
Proceeds from issuance of Series B preferred stock, net of issuance costs 1,082 1,118
Preferred stock and preferred unit dividends (25,741) (24,910)
Proceeds from exercise of stock options 984 3,405
Purchase and retirement of outstanding stock and preferred units (52,674) (17,673)
Proceeds from issuance of Senior notes, net of issuance costs 135,252 0
Proceeds from borrowings 893,971 955,278
Repayment of borrowings (566,244) (753,877)
Net cash provided by financing activities 393,609 163,345
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents 0 2
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents 115,983 (49,539)
Cash and cash equivalents and restricted cash equivalents at beginning of period 383,653 433,192
Cash and cash equivalents and restricted cash equivalents at end of period 499,636 383,653
Cash and cash equivalents, and restricted cash and cash equivalents at end of period    
Unrestricted cash and cash equivalents 375,416 339,338
Restricted cash and cash equivalents 124,220 44,315
Cash and cash equivalents, and restricted cash and cash equivalents at end of period 499,636 383,653
Supplemental cash flow information    
Cash paid for interest 145,669 99,450
Cash paid for income taxes, net of refunds 229 1,467
Accretion of discount associated with issuance of subsidiary equity 250 300
(Decrease) increase in accrued and unpaid preferred stock and preferred unit dividends $ (2,063) $ 4