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Loans to Bank Customers | 6 Months Ended
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Jun. 30, 2020
Loans and Leases Receivable Disclosure [Abstract] |
Loans to Bank Customers | Loans to Bank Customers The following table presents total outstanding loans, gross of the related allowance for loan losses, and a summary of the related payment status:
| 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total Past Due |  | Total Current or Less Than 30 Days Past Due |  | Total Outstanding
| (In thousands) |  |  |  |  |  |  |  |  |  |
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 125 |  |  | $ | — |  |  | $ | — |  |  | $ | 125 |  |  | $ | 3,645 |  |  | $ | 3,770 |
Commercial | — |  |  | — |  |  | — |  |  | — |  |  | 1,074 |  |  | 1,074 |
Installment | 2 |  |  | — |  |  | — |  |  | 2 |  |  | 1,215 |  |  | 1,217 |
Secured credit card | 488 |  |  | 435 |  |  | 759 |  |  | 1,682 |  |  | 12,378 |  |  | 14,060 |
Total loans | $ | 615 |  |  | $ | 435 |  |  | $ | 759 |  |  | $ | 1,809 |  |  | $ | 18,312 |  |  | $ | 20,121 |
Percentage of outstanding | 3.1 | % |  | 2.2 | % |  | 3.8 | % |  | 9.0 | % |  | 91.0 | % |  | 100.0 | %
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 4,530 |  |  | $ | 4,531 |
Commercial | — |  |  | — |  |  | — |  |  | — |  |  | 158 |  |  | 158 |
Installment | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 1,246 |  |  | 1,247 |
Secured credit card | 1,080 |  |  | 939 |  |  | 2,183 |  |  | 4,202 |  |  | 12,445 |  |  | 16,647 |
Total loans | $ | 1,082 |  |  | $ | 939 |  |  | $ | 2,183 |  |  | $ | 4,204 |  |  | $ | 18,379 |  |  | $ | 22,583 |
Percentage of outstanding | 4.8 | % |  | 4.2 | % |  | 9.7 | % |  | 18.6 | % |  | 81.4 | % |  | 100.0 | %
Nonperforming Loans The following table presents the carrying value, gross of the related allowance for loan losses, of our nonperforming loans. See Note 2 — Summary of Significant Accounting Policies to the Consolidated Financial Statements of our Annual Report on Form 10-K for the year ended December 31, 2019 for further information on the criteria for classification as nonperforming.
| June 30, 2020 |  | December 31, 2019
| (In thousands) |  |
Residential | $ | 262 |  |  | $ | 290 |
Installment | 131 |  |  | 147 |
Secured credit card | 759 |  |  | 2,183 |
Total loans | $ | 1,152 |  |  | $ | 2,620 |
Credit Quality Indicators We closely monitor and assess the credit quality and credit risk of our loan portfolio on an ongoing basis. We continuously review and update loan risk classifications. We evaluate our loans using non-classified or classified as the primary credit quality indicator. Classified loans are those loans that have demonstrated credit weakness where we believe there is a heightened risk of principal loss, including all impaired loans. Classified loans are generally internally categorized as substandard, doubtful or loss, consistent with regulatory guidelines. Our secured credit card portfolio is collateralized by cash deposits made by each cardholder in an amount equal to the user's available credit limit, which mitigates the risk of any significant credit losses we expect to incur. The table below presents the carrying value, gross of the related allowance for loan losses, of our loans within the primary credit quality indicators related to our loan portfolio: Note 6—Loans to Bank Customers (continued)
| June 30, 2020 |  |  |  | December 31, 2019 |  |
| Non-Classified |  | Classified |  | Non-Classified |  | Classified
| (In thousands) |  |  |  |  |  |
Residential | $ | 3,508 |  |  | $ | 262 |  |  | $ | 4,241 |  |  | $ | 290 |
Commercial | 1,074 |  |  | — |  |  | 158 |  |  | — |
Installment | 1,062 |  |  | 155 |  |  | 1,058 |  |  | 189 |
Secured credit card | 13,301 |  |  | 759 |  |  | 14,464 |  |  | 2,183 |
Total loans | $ | 18,945 |  |  | $ | 1,176 |  |  | $ | 19,921 |  |  | $ | 2,662 |
Impaired Loans and Troubled Debt Restructurings When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a Troubled Debt Restructuring, or TDR. Our TDR modifications involve an extension of the maturity date at a stated interest rate lower than the current market rate for new debt with similar risk. As of June 30, 2020, none of our TDR modifications have been made in response to the COVID-19 pandemic. The following table presents our impaired loans and loans that we modified as TDRs as of June 30, 2020 and December 31, 2019:
| June 30, 2020 |  |  |  | December 31, 2019 |  |
| Unpaid Principal Balance |  | Carrying Value |  | Unpaid Principal Balance |  | Carrying Value
| (In thousands) |  |  |  |  |  |
Residential | $ | 262 |  |  | $ | 196 |  |  | $ | 290 |  |  | $ | 221 |
Installment | 142 |  |  | 138 |  |  | 160 |  |  | 48 |
Allowance for Loan Losses Activity in the allowance for loan losses consisted of the following:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands) |  |  |  |  |  |
Balance, beginning of period | $ | 1,057 |  |  | $ | 948 |  |  | $ | 1,166 |  |  | $ | 1,144 |
Provision for loans | 62 |  |  | 590 |  |  | 254 |  |  | 1,256 |
Loans charged off | (634) |  |  | (637) |  |  | (1,121) |  |  | (1,549) |
Recoveries of loans previously charged off | 85 |  |  | 69 |  |  | 271 |  |  | 119 |
Balance, end of period | $ | 570 |  |  | $ | 970 |  |  | $ | 570 |  |  | $ | 970 |

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