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v3.23.3

Basis of Presentation (Tables) | 9 Months Ended
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Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Finite-Lived Intangible Assets | The table below presents the amortization period and carrying value of our intangible assets, net of accumulated amortization at September 30, 2023. Table 2.1 – Intangible Assets – Activity
|  | Intangible Assets at Acquisition |  | Accumulated Amortization at September 30, 2023 |  | Carrying Value at September 30, 2023 |  | Weighted Average Amortization Period (in years)
(Dollars in Thousands) |  |  |  |
Borrower network |  | $ | 56,300 |  |  | $ | (27,580) |  |  | $ | 28,720 |  |  | 7
Broker network |  | 18,100 |  |  | (16,592) |  |  | 1,508 |  |  | 5
Non-compete agreements |  | 11,400 |  |  | (10,292) |  |  | 1,108 |  |  | 3
Tradenames |  | 4,400 |  |  | (4,166) |  |  | 234 |  |  | 3
Developed technology |  | 1,800 |  |  | (1,800) |  |  | — |  |  | 2
Loan administration fees on existing loan assets |  | 2,600 |  |  | (2,600) |  |  | — |  |  | 1
Total |  | $ | 94,600 |  |  | $ | (63,030) |  |  | $ | 31,570 |  |  | 6
Schedule of Finite-lived Intangible Assets Amortization Expense | Estimated future amortization expense is summarized in the table below. Table 2.2 – Intangible Asset Amortization Expense by Year
(In Thousands) |  |  |  |  |  |  |  | September 30, 2023
2023 (3 months) |  |  |  |  |  |  |  | $ | 3,109 |
2024 |  |  |  |  |  |  |  | 9,412 |
2025 |  |  |  |  |  |  |  | 8,426 |
2026 |  |  |  |  |  |  |  | 6,694 |
2027 |  |  |  |  |  |  |  | 1,571 |
2028 and thereafter |  |  |  |  |  |  |  | 2,358 |
Total Future Intangible Asset Amortization |  |  |  |  |  |  |  | $ | 31,570 |
Schedule of Pro Forma Information | Table 2.3 – Unaudited Pro Forma Financial Information
|  |  |  | Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022 |  |
(In Thousands) |  |  |  |  |  |
Supplementary pro forma information: |  |  |  |  |  |  |  |
Net interest income |  |  |  | $ | 34,935 |  |  | $ | 132,475 |  |  |
Non-interest (loss) income |  |  |  | (37,135) |  |  | (121,614) |  |  |
Net (loss) income |  |  |  | (50,411) |  |  | (117,090) |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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