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v3.22.2.2

Other income and operating expenses (Tables) | 9 Months Ended
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Sep. 30, 2022
Other income and operating expenses |
Schedule of the financial position related to the Paycheck Protection Program (PPP) activities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | September 30, 2022 |  | December 31, 2021
Assets | ​ | ​ | ​ | ​ | ​ | ​
Paycheck Protection Program loans | ​ | $ | 275,162 | ​ | $ | 867,109
Paycheck Protection Program loans, at fair value | ​ |  | 599 | ​ |  | 3,243
PPP fee receivable | ​ |  | 338 | ​ |  | 407
Accrued interest receivable | ​ |  | 2,328 | ​ |  | 7,025
Total PPP related assets | ​ | $ | 278,427 | ​ | $ | 877,784
Liabilities | ​ | ​ | ​ | ​ | ​ | ​
Paycheck Protection Program Liquidity Facility borrowings | ​ | $ | 305,797 | ​ | $ | 941,505
Interest payable | ​ | ​ | 1,532 | ​ | ​ | 2,358
Deferred LSP revenue | ​ | ​ | 151 | ​ | ​ | 286
Accrued PPP related costs | ​ | ​ | 4,294 | ​ | ​ | 12,460
Payable to third parties | ​ |  | 360 | ​ |  | 2,091
Repair and denial reserve | ​ | ​ | 5,855 | ​ | ​ | 12,844
Total PPP related liabilities | ​ | $ | 317,989 | ​ | $ | 971,544
Schedule of the income and expenses related to the Paycheck Protection Program (PPP) activities. | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​ | Financial statement account
(in thousands) | 2022 | 2021 | ​ | 2022 | 2021 | ​
Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LSP fee income | $ | 26 | $ | 417 | $ | 5,336 | $ | 10,275 | ​ | Servicing income
Interest income | ​ | 14,000 | ​ | 18,680 | ​ | 50,140 | ​ | 51,927 | ​ | Interest income
Repair and denial reserve | ​ | 2,153 | ​ | (196) | ​ | 6,553 | ​ | (5,585) | ​ | Other income - change in repair and denial reserve
Total PPP related income | $ | 16,179 | $ | 18,901 | $ | 62,029 | $ | 56,617 | ​ | ​
Expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct operating expenses | $ | 93 | $ | (25) | $ | 434 | $ | 8,193 | ​ | Other operating expenses - origination costs
Interest expense | ​ | 323 | ​ | 1,196 | ​ | 1,470 | ​ | 13,818 | ​ | Interest expense
Total PPP related expenses (direct) | $ | 416 | $ | 1,171 | $ | 1,904 | $ | 22,011 | ​ | ​
Net PPP related income | $ | 15,763 | $ | 17,730 | $ | 60,125 | $ | 34,606 | ​ | ​
Schedule of other income and operating expenses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Other income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Origination income | $ | 3,660 | ​ | $ | 2,794 |  | $ | 8,039 | ​ | $ | 6,297
Change in repair and denial reserve | ​ | 1,864 | ​ | ​ | 45 |  | ​ | 5,362 | ​ | ​ | (6,108)
Employee retention credit consulting income | ​ | 6,958 | ​ | ​ | — | ​ | ​ | 7,261 | ​ | ​ | —
Other | ​ | 3,668 | ​ | ​ | 2,835 |  | ​ | 10,323 | ​ | ​ | 5,368
Total other income | $ | 16,150 | ​ | $ | 5,674 | ​ | $ | 30,985 | ​ | $ | 5,557
Other operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Origination costs | $ | 3,288 | ​ | $ | 4,041 | ​ | $ | 10,390 | ​ | $ | 20,069
Technology expense |  | 2,619 | ​ | ​ | 2,058 | ​ |  | 7,035 | ​ | ​ | 5,968
Impairment on real estate |  | — | ​ | ​ | 184 | ​ |  | 2,667 | ​ | ​ | 1,462
Rent and property tax expense |  | 1,764 | ​ | ​ | 1,538 | ​ |  | 4,423 | ​ | ​ | 4,967
Recruiting, training and travel expense |  | 395 | ​ | ​ | 297 | ​ |  | 1,221 | ​ | ​ | 1,126
Marketing expense | ​ | 575 | ​ | ​ | 1,121 | ​ | ​ | 1,499 | ​ | ​ | 2,306
Loan acquisition costs | ​ | (36) | ​ | ​ | 115 | ​ | ​ | 182 | ​ | ​ | 449
Financing costs on purchased future receivables | ​ | 40 | ​ | ​ | 31 | ​ | ​ | 102 | ​ | ​ | 87
Other |  | 6,751 | ​ | ​ | 3,541 | ​ |  | 14,902 | ​ | ​ | 9,166
Total other operating expenses | $ | 15,396 | ​ | $ | 12,926 | ​ | $ | 42,421 | ​ | $ | 45,600

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