Finance Receivables, Credit Quality Information, and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2018

Finance receivables for the periods indicated consisted of the following:


In thousands	June 30, 2018		December 31, 2017
Small loans	$	384,690	$	375,772
Large loans		392,101		347,218
Automobile loans		39,414		61,423
Retail loans		31,033		33,050

Finance receivables	$	847,238	$	817,463

Contractual Delinquency of the Finance Receivable Portfolio by Component

The contractual delinquency of the finance receivable portfolio by product and aging for the periods indicated are as follows:


	June 30, 2018
	Small					Large					Automobile					Retail					Total
In thousands	$		%			$		%			$		%			$		%			$		%
Current	$	316,058		82.1	%	$	335,842		85.7	%	$	28,040		71.1	%	$	24,830		80.0	%	$	704,770		83.1	%
1 to 29 days past due		40,285		10.5	%		36,659		9.3	%		8,465		21.5	%		4,101		13.2	%		89,510		10.6	%

Delinquent accounts
30 to 59 days		9,601		2.5	%		7,441		1.9	%		1,131		2.9	%		713		2.4	%		18,886		2.3	%
60 to 89 days		6,389		1.7	%		4,667		1.2	%		567		1.4	%		480		1.5	%		12,103		1.4	%
90 to 119 days		4,591		1.2	%		2,922		0.8	%		534		1.4	%		326		1.0	%		8,373		1.0	%
120 to 149 days		3,770		1.0	%		2,431		0.6	%		374		0.9	%		282		0.9	%		6,857		0.8	%
150 to 179 days		3,996		1.0	%		2,139		0.5	%		303		0.8	%		301		1.0	%		6,739		0.8	%

Total delinquency	$	28,347		7.4	%	$	19,600		5.0	%	$	2,909		7.4	%	$	2,102		6.8	%	$	52,958		6.3	%

Total finance receivables	$	384,690		100.0	%	$	392,101		100.0	%	$	39,414		100.0	%	$	31,033		100.0	%	$	847,238		100.0	%

Finance receivables in nonaccrual status	$	14,835		3.9	%	$	9,612		2.5	%	$	1,841		4.7	%	$	1,002		3.2	%	$	27,290		3.2	%


	December 31, 2017
	Small					Large					Automobile					Retail					Total
In thousands	$		%			$		%			$		%			$		%			$		%
Current	$	301,114		80.1	%	$	299,467		86.3	%	$	43,140		70.2	%	$	25,730		77.8	%	$	669,451		81.9	%
1 to 29 days past due		39,412		10.5	%		29,211		8.4	%		13,387		21.8	%		4,523		13.7	%		86,533		10.6	%

Delinquent accounts
30 to 59 days		9,738		2.6	%		5,949		1.6	%		2,162		3.6	%		879		2.7	%		18,728		2.2	%
60 to 89 days		8,755		2.3	%		4,757		1.4	%		1,046		1.7	%		739		2.2	%		15,297		1.9	%
90 to 119 days		6,881		1.9	%		3,286		1.0	%		701		1.1	%		471		1.5	%		11,339		1.4	%
120 to 149 days		5,284		1.4	%		2,537		0.7	%		636		1.0	%		408		1.2	%		8,865		1.1	%
150 to 179 days		4,588		1.2	%		2,011		0.6	%		351		0.6	%		300		0.9	%		7,250		0.9	%

Total delinquency	$	35,246		9.4	%	$	18,540		5.3	%	$	4,896		8.0	%	$	2,797		8.5	%	$	61,479		7.5	%

Total finance receivables	$	375,772		100.0	%	$	347,218		100.0	%	$	61,423		100.0	%	$	33,050		100.0	%	$	817,463		100.0	%

Finance receivables in nonaccrual status	$	19,634		5.2	%	$	9,753		2.8	%	$	2,461		4.0	%	$	1,339		4.1	%	$	33,187		4.1	%

Summary of Changes in Allowance for Credit Losses

Changes in the allowance for credit losses for the periods indicated are as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
In thousands	2018			2017			2018			2017
Balance at beginning of period	$	47,750		$	41,000		$	48,910		$	41,250
Provision for credit losses		20,203			18,589			39,718			37,723
Credit losses		(20,666	)		(19,003	)		(42,686	)		(39,997	)
Recoveries		1,163			1,414			2,508			3,024

Balance at end of period	$	48,450		$	42,000		$	48,450		$	42,000

Reconciliation of Allowance for Credit Losses

The following is a reconciliation of the allowance for credit losses by product for the periods indicated:


In thousands	Balance April 1, 2018		Provision		Credit Losses			Recoveries		Balance June 30, 2018		Finance Receivables June 30, 2018		Allowance as Percentage of Finance Receivables June 30, 2018
Small loans	$	23,366	$	12,720	$	(12,782	)	$	665	$	23,969	$	384,690		6.2	%
Large loans		18,589		6,784		(6,002	)		327		19,698		392,101		5.0	%
Automobile loans		3,316		64		(873	)		135		2,642		39,414		6.7	%
Retail loans		2,479		635		(1,009	)		36		2,141		31,033		6.9	%

Total	$	47,750	$	20,203	$	(20,666	)	$	1,163	$	48,450	$	847,238		5.7	%


In thousands	Balance April 1, 2017		Provision		Credit Losses			Recoveries		Balance June 30, 2017		Finance Receivables June 30, 2017		Allowance as Percentage of Finance Receivables June 30, 2017
Small loans	$	20,575	$	11,082	$	(11,542	)	$	795	$	20,910	$	348,742		6.0	%
Large loans		12,675		6,124		(5,023	)		224		14,000		267,921		5.2	%
Automobile loans		5,775		825		(1,724	)		334		5,210		79,861		6.5	%
Retail loans		1,975		558		(714	)		61		1,880		30,243		6.2	%

Total	$	41,000	$	18,589	$	(19,003	)	$	1,414	$	42,000	$	726,767		5.8	%


In thousands	Balance January 1, 2018		Provision		Credit Losses			Recoveries		Balance June 30, 2018		Finance Receivables June 30, 2018		Allowance as Percentage of Finance Receivables June 30, 2018
Small loans	$	24,749	$	24,003	$	(26,156	)	$	1,373	$	23,969	$	384,690		6.2	%
Large loans		17,548		13,663		(12,198	)		685		19,698		392,101		5.0	%
Automobile loans		4,025		585		(2,340	)		372		2,642		39,414		6.7	%
Retail loans		2,588		1,467		(1,992	)		78		2,141		31,033		6.9	%

Total	$	48,910	$	39,718	$	(42,686	)	$	2,508	$	48,450	$	847,238		5.7	%


In thousands	Balance January 1, 2017		Provision		Credit Losses			Recoveries		Balance June 30, 2017		Finance Receivables June 30, 2017		Allowance as Percentage of Finance Receivables June 30, 2017
Small loans	$	21,770	$	22,245	$	(24,744	)	$	1,639	$	20,910	$	348,742		6.0	%
Large loans		11,460		11,727		(9,652	)		465		14,000		267,921		5.2	%
Automobile loans		5,910		2,563		(4,056	)		793		5,210		79,861		6.5	%
Retail loans		2,110		1,188		(1,545	)		127		1,880		30,243		6.2	%

Total	$	41,250	$	37,723	$	(39,997	)	$	3,024	$	42,000	$	726,767		5.8	%

Tabular Disclosure of Impaired Financing Receivables

The following is a summary of finance receivables evaluated for impairment for the periods indicated:


	June 30, 2018
In thousands	Small		Large		Automobile		Retail		Total
Impaired receivables specifically evaluated	$	6,291	$	12,553	$	1,422	$	115	$	20,381
Finance receivables evaluated collectively		378,399		379,548		37,992		30,918		826,857

Finance receivables outstanding	$	384,690	$	392,101	$	39,414	$	31,033	$	847,238

Impaired receivables in nonaccrual status	$	541	$	973	$	143	$	29	$	1,686

Amount of the specific reserve for impaired accounts	$	1,729	$	3,101	$	280	$	22	$	5,132

Amount of the general component of the allowance	$	22,240	$	16,597	$	2,362	$	2,119	$	43,318


	December 31, 2017
In thousands	Small		Large		Automobile		Retail		Total
Impaired receivables specifically evaluated	$	5,094	$	10,303	$	1,724	$	109	$	17,230
Finance receivables evaluated collectively		370,678		336,915		59,699		32,941		800,233

Finance receivables outstanding	$	375,772	$	347,218	$	61,423	$	33,050	$	817,463

Impaired receivables in nonaccrual status	$	707	$	931	$	129	$	31	$	1,798

Amount of the specific reserve for impaired accounts	$	1,190	$	2,183	$	373	$	20	$	3,766

Amount of the general component of the allowance	$	23,559	$	15,365	$	3,652	$	2,568	$	45,144

The average recorded investment in impaired finance receivables and the amount of interest income recognized on impaired loans for the periods indicated are as follows:


	Three Months Ended June 30,
	2018				2017 (1)
In thousands	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Small loans	$	6,272	$	342	$	3,810
Large loans		12,318		486		7,851
Automobile loans		1,512		17		2,201
Retail loans		105		2		111

Total	$	20,207	$	847	$	13,973


	Six Months Ended June 30,
	2018				2017 (1)
In thousands	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Small loans	$	5,868	$	666	$	3,351
Large loans		11,693		932		7,406
Automobile loans		1,589		65		2,286
Retail loans		101		9		106

Total	$	19,251	$	1,672	$	13,149

(1)	It was not practical to compute the amount of interest income recognized on impaired loans prior to fiscal year 2018.