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

3 Months Ended

Mar. 31, 2019

Finance receivables for the periods indicated consisted of the following:


In thousands	March 31, 2019		December 31, 2018
Small loans	$	421,712	$	437,662
Large loans		440,707		437,998
Automobile loans		20,511		26,154
Retail loans		29,320		30,429

Finance receivables	$	912,250	$	932,243

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:


	March 31, 2019
	Small				Large				Automobile				Retail				Total
In thousands	$		%		$		%		$		%		$		%		$		%
Current	$	346,176		82.1%	$	377,722		85.8%	$	15,196		74.1%	$	23,654		80.7%	$	762,748		83.6%
1 to 29 days past due		40,546		9.6%		38,092		8.6%		3,781		18.4%		3,523		12.0%		85,942		9.4%

Delinquent accounts
30 to 59 days		9,408		2.2%		7,569		1.6%		498		2.4%		591		2.0%		18,066		2.0%
60 to 89 days		7,622		1.8%		5,540		1.3%		237		1.2%		451		1.5%		13,850		1.5%
90 to 119 days		6,463		1.5%		4,567		1.1%		326		1.6%		389		1.4%		11,745		1.3%
120 to 149 days		5,756		1.4%		3,617		0.8%		165		0.8%		364		1.2%		9,902		1.1%
150 to 179 days		5,741		1.4%		3,600		0.8%		308		1.5%		348		1.2%		9,997		1.1%

Total delinquency	$	34,990		8.3%	$	24,893		5.6%	$	1,534		7.5%	$	2,143		7.3%	$	63,560		7.0%

Total finance receivables	$	421,712		100.0%	$	440,707		100.0%	$	20,511		100.0%	$	29,320		100.0%	$	912,250		100.0%

Finance receivables in nonaccrual status	$	19,588		4.6%	$	13,184		3.0%	$	1,073		5.2%	$	1,188		4.1%	$	35,033		3.8%


	December 31, 2018
	Small				Large				Automobile				Retail				Total
In thousands	$		%		$		%		$		%		$		%		$		%
Current	$	347,053		79.3%	$	365,950		83.6%	$	17,767		67.9%	$	23,392		76.9%	$	754,162		80.9%
1 to 29 days past due		49,946		11.4%		45,234		10.3%		6,304		24.1%		4,436		14.6%		105,920		11.4%

Delinquent accounts
30 to 59 days		12,168		2.8%		8,768		2.0%		751		2.9%		842		2.7%		22,529		2.3%
60 to 89 days		9,555		2.2%		6,779		1.5%		421		1.6%		627		2.1%		17,382		1.9%
90 to 119 days		7,202		1.6%		4,407		1.0%		241		0.9%		429		1.4%		12,279		1.3%
120 to 149 days		6,266		1.4%		3,823		0.9%		434		1.7%		367		1.2%		10,890		1.2%
150 to 179 days		5,472		1.3%		3,037		0.7%		236		0.9%		336		1.1%		9,081		1.0%

Total delinquency	$	40,663		9.3%	$	26,814		6.1%	$	2,083		8.0%	$	2,601		8.5%	$	72,161		7.7%

Total finance receivables	$	437,662		100.0%	$	437,998		100.0%	$	26,154		100.0%	$	30,429		100.0%	$	932,243		100.0%

Finance receivables in nonaccrual status	$	22,549		5.2%	$	14,379		3.3%	$	1,359		5.2%	$	1,276		4.2%	$	39,563		4.2%

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 March 31,
In thousands	2019			2018
Balance at beginning of period	$	58,300		$	48,910
Provision for credit losses		23,343			19,515
Credit losses		(26,377	)		(22,020	)
Recoveries		1,134			1,345

Balance at end of period	$	56,400		$	47,750

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 January 1, 2019		Provision		Credit Losses			Recoveries		Balance March 31, 2019		Finance Receivables March 31, 2019		Allowance as Percentage of Finance Receivables March 31, 2019
Small loans	$	30,759	$	13,954	$	(15,488	)	$	568	$	29,793	$	421,712		7.1%
Large loans		23,702		8,452		(9,337	)		400		23,217		440,707		5.3%
Automobile loans		1,893		109		(652	)		120		1,470		20,511		7.2%
Retail loans		1,946		828		(900	)		46		1,920		29,320		6.5%

Total	$	58,300	$	23,343	$	(26,377	)	$	1,134	$	56,400	$	912,250		6.2%


In thousands	Balance January 1, 2018		Provision		Credit Losses			Recoveries		Balance March 31, 2018		Finance Receivables March 31, 2018		Allowance as Percentage of Finance Receivables March 31, 2018
Small loans	$	24,749	$	11,283	$	(13,375	)	$	709	$	23,366	$	360,470		6.5%
Large loans		17,548		6,878		(6,195	)		358		18,589		363,931		5.1%
Automobile loans		4,025		521		(1,467	)		237		3,316		48,704		6.8%
Retail loans		2,588		833		(983	)		41		2,479		31,851		7.8%

Total	$	48,910	$	19,515	$	(22,020	)	$	1,345	$	47,750	$	804,956		5.9%

Tabular Disclosure of Impaired Financing Receivables

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


	March 31, 2019
In thousands	Small		Large		Automobile		Retail		Total
Impaired receivables specifically evaluated	$	9,780	$	18,241	$	812	$	130	$	28,963
Finance receivables evaluated collectively		411,932		422,466		19,699		29,190		883,287

Finance receivables outstanding	$	421,712	$	440,707	$	20,511	$	29,320	$	912,250

Impaired receivables in nonaccrual status	$	1,091	$	2,266	$	156	$	36	$	3,549

Amount of the specific reserve for impaired accounts	$	4,334	$	6,883	$	378	$	65	$	11,660

Amount of the general component of the allowance	$	25,459	$	16,334	$	1,092	$	1,855	$	44,740


	December 31, 2018
In thousands	Small		Large		Automobile		Retail		Total
Impaired receivables specifically evaluated	$	8,361	$	17,196	$	918	$	110	$	26,585
Finance receivables evaluated collectively		429,301		420,802		25,236		30,319		905,658

Finance receivables outstanding	$	437,662	$	437,998	$	26,154	$	30,429	$	932,243

Impaired receivables in nonaccrual status	$	1,209	$	2,292	$	178	$	37	$	3,716

Amount of the specific reserve for impaired accounts	$	3,791	$	6,860	$	492	$	61	$	11,204

Amount of the general component of the allowance	$	26,968	$	16,842	$	1,401	$	1,885	$	47,096

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 March 31,
	2019				2018
In thousands	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Small loans	$	8,971	$	247	$	5,521	$	251
Large loans		17,495		414		11,142		371
Automobile loans		851		8		1,669		41
Retail loans		120		—		94		4

Total	$	27,437	$	669	$	18,426	$	667