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

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Summary of Finance Receivables

Finance receivables for the periods indicated consisted of the following:

In thousands		June 30, 2019				December 31, 2018
Small loans		$	431,214			$	437,662
Large loans			498,757				437,998
Automobile loans			15,686				26,154
Retail loans			27,777				30,429
Finance receivables		$	973,434			$	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:
 

		June 30, 2019
		Small								Large								Automobile								Retail								Total
In thousands		$				%				$				%				$				%				$				%				$				%
Current		$	347,335				80.6	%		$	425,496				85.3	%		$	11,168				71.2	%		$	21,216				76.3	%		$	805,215				82.7	%
1 to 29 days past due			50,603				11.7	%			47,814				9.6	%			3,224				20.6	%			4,376				15.8	%			106,017				10.9	%
Delinquent accounts
30 to 59 days			11,270				2.5	%			9,424				1.8	%			565				3.5	%			823				3.0	%			22,082				2.3	%
60 to 89 days			7,430				1.7	%			5,781				1.2	%			279				1.8	%			471				1.7	%			13,961				1.4	%
90 to 119 days			5,391				1.3	%			4,089				0.9	%			145				1.0	%			337				1.2	%			9,962				1.1	%
120 to 149 days			4,554				1.1	%			3,105				0.6	%			163				1.0	%			267				1.0	%			8,089				0.8	%
150 to 179 days			4,631				1.1	%			3,048				0.6	%			142				0.9	%			287				1.0	%			8,108				0.8	%
Total delinquency		$	33,276				7.7	%		$	25,447				5.1	%		$	1,294				8.2	%		$	2,185				7.9	%		$	62,202				6.4	%
Total finance receivables		$	431,214				100.0	%		$	498,757				100.0	%		$	15,686				100.0	%		$	27,777				100.0	%		$	973,434				100.0	%
Finance receivables in nonaccrual status		$	16,168				3.7	%		$	11,849				2.4	%		$	713				4.5	%		$	1,007				3.6	%		$	29,737				3.1	%

		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 June 30,								Six Months Ended June 30,
In thousands		2019				2018				2019				2018
Balance at beginning of period		$	56,400			$	47,750			$	58,300			$	48,910
Provision for credit losses			25,714				20,203				49,057				39,718
Credit losses			(26,001	)			(20,666	)			(52,378	)			(42,686	)
Recoveries			1,087				1,163				2,221				2,508
Balance at end of period		$	57,200			$	48,450			$	57,200			$	48,450

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, 2019				Provision				Credit Losses				Recoveries				Balance June 30, 2019				Finance Receivables June 30, 2019				Allowance as Percentage of Finance Receivables June 30, 2019
Small loans		$	29,793			$	13,736			$	(14,993	)		$	598			$	29,134			$	431,214				6.8	%
Large loans			23,217				10,989				(9,550	)			398				25,054				498,757				5.0	%
Automobile loans			1,470				131				(566	)			58				1,093				15,686				7.0	%
Retail loans			1,920				858				(892	)			33				1,919				27,777				6.9	%
Total		$	56,400			$	25,714			$	(26,001	)		$	1,087			$	57,200			$	973,434				5.9	%

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 January 1, 2019				Provision				Credit Losses				Recoveries				Balance June 30, 2019				Finance Receivables June 30, 2019				Allowance as Percentage of Finance Receivables June 30, 2019
Small loans		$	30,759			$	27,691			$	(30,481	)		$	1,165			$	29,134			$	431,214				6.8	%
Large loans			23,702				19,440				(18,887	)			799				25,054				498,757				5.0	%
Automobile loans			1,893				240				(1,218	)			178				1,093				15,686				7.0	%
Retail loans			1,946				1,686				(1,792	)			79				1,919				27,777				6.9	%
Total		$	58,300			$	49,057			$	(52,378	)		$	2,221			$	57,200			$	973,434				5.9	%

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	%

Tabular Disclosure of Impaired Financing Receivables

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

		June 30, 2019
In thousands		Small				Large				Automobile				Retail				Total
Impaired receivables specifically evaluated		$	9,839			$	18,849			$	799			$	133			$	29,620
Finance receivables evaluated collectively			421,375				479,908				14,887				27,644				943,814
Finance receivables outstanding		$	431,214			$	498,757			$	15,686			$	27,777			$	973,434
Impaired receivables in nonaccrual status		$	1,073			$	2,187			$	152			$	44			$	3,456
Amount of the specific reserve for impaired accounts		$	4,135			$	7,089			$	380			$	72			$	11,676
Amount of the general component of the allowance		$	24,999			$	17,965			$	713			$	1,847			$	45,524

		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 June 30,
		2019								2018
In thousands		Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
Small loans		$	9,813			$	437			$	6,272			$	248
Large loans			18,584				667				12,318				383
Automobile loans			803				9				1,512				11
Retail loans			134				1				105				1
Total		$	29,334			$	1,114			$	20,207			$	643

		Six Months Ended June 30,
		2019								2018
In thousands		Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
Small loans		$	9,336			$	684			$	5,868			$	499
Large loans			18,011				1,081				11,693				754
Automobile loans			829				17				1,589				52
Retail loans			127				1				101				5
Total		$	28,303			$	1,783			$	19,251			$	1,310

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- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

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Tabular disclosure of the activity in the total allowance for credit losses related to financing receivables (such as loans or lease receivables) for entities that have an unclassified balance sheet, including the balance in the allowance at the beginning and end of each period, additions charged to operations, direct write-downs charged against the allowance, and recoveries of amounts previously charged off.

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