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Finance Receivables, Credit Quality Information, and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2021
Receivables [Abstract] |
Summary of Net Finance Receivables | Net finance receivables for the periods indicated consisted of the following:
In thousands |  | September 30, 2021 |  |  | December 31, 2020 |
Small loans |  | $ | 419,602 |  |  | $ | 403,062 |
Large loans |  |  | 882,514 |  |  |  | 715,210 |
Automobile loans |  |  | 1,757 |  |  |  | 3,889 |
Retail loans |  |  | 10,360 |  |  |  | 14,098 |
Net finance receivables |  | $ | 1,314,233 |  |  | $ | 1,136,259 |
Summary of Financing Receivable Credit Quality Indicators | Net finance receivables by product, FICO band, and origination year as of September 30, 2021 are as follows:
|  | Net Finance Receivables by Origination Year |
In thousands |  | 2021 (1) |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | Prior |  |  | Total Net Finance Receivables |
Small Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO Band |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | $ | 61,379 |  |  | $ | 19,124 |  |  | $ | 3,946 |  |  | $ | 356 |  |  | $ | 57 |  |  | $ | 13 |  |  | $ | 84,875 |
2 |  |  | 38,862 |  |  |  | 10,041 |  |  |  | 1,471 |  |  |  | 79 |  |  |  | 13 |  |  |  | 3 |  |  |  | 50,469 |
3 |  |  | 41,821 |  |  |  | 10,924 |  |  |  | 1,420 |  |  |  | 58 |  |  |  | 6 |  |  |  | 1 |  |  |  | 54,230 |
4 |  |  | 45,943 |  |  |  | 11,916 |  |  |  | 1,338 |  |  |  | 61 |  |  |  | 9 |  |  |  | 3 |  |  |  | 59,270 |
5 |  |  | 46,176 |  |  |  | 14,275 |  |  |  | 1,320 |  |  |  | 39 |  |  |  | 2 |  |  |  | 1 |  |  |  | 61,813 |
6 |  |  | 77,233 |  |  |  | 29,386 |  |  |  | 2,282 |  |  |  | 37 |  |  |  | 5 |  |  |  | 2 |  |  |  | 108,945 |
Total small loans |  | $ | 311,414 |  |  | $ | 95,666 |  |  | $ | 11,777 |  |  | $ | 630 |  |  | $ | 92 |  |  | $ | 23 |  |  | $ | 419,602 |
Large Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO Band |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | $ | 33,140 |  |  | $ | 25,015 |  |  | $ | 12,933 |  |  | $ | 3,554 |  |  | $ | 1,353 |  |  | $ | 583 |  |  | $ | 76,578 |
2 |  |  | 33,815 |  |  |  | 17,377 |  |  |  | 6,421 |  |  |  | 915 |  |  |  | 166 |  |  |  | 110 |  |  |  | 58,804 |
3 |  |  | 84,068 |  |  |  | 34,859 |  |  |  | 15,600 |  |  |  | 2,208 |  |  |  | 276 |  |  |  | 49 |  |  |  | 137,060 |
4 |  |  | 101,488 |  |  |  | 44,787 |  |  |  | 19,907 |  |  |  | 2,472 |  |  |  | 312 |  |  |  | 29 |  |  |  | 168,995 |
5 |  |  | 96,468 |  |  |  | 43,664 |  |  |  | 18,653 |  |  |  | 2,645 |  |  |  | 289 |  |  |  | 22 |  |  |  | 161,741 |
6 |  |  | 169,591 |  |  |  | 74,697 |  |  |  | 30,066 |  |  |  | 4,556 |  |  |  | 378 |  |  |  | 48 |  |  |  | 279,336 |
Total large loans |  | $ | 518,570 |  |  | $ | 240,399 |  |  | $ | 103,580 |  |  | $ | 16,350 |  |  | $ | 2,774 |  |  | $ | 841 |  |  | $ | 882,514 |
Automobile Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO Band |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 478 |  |  | $ | 247 |  |  | $ | 725 |
2 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 178 |  |  |  | 119 |  |  |  | 297 |
3 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 292 |  |  |  | 99 |  |  |  | 391 |
4 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 110 |  |  |  | 39 |  |  |  | 149 |
5 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 34 |  |  |  | 63 |  |  |  | 97 |
6 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 67 |  |  |  | 31 |  |  |  | 98 |
Total automobile loans |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,159 |  |  | $ | 598 |  |  | $ | 1,757 |
Retail Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO Band |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | $ | 22 |  |  | $ | 186 |  |  | $ | 323 |  |  | $ | 45 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 582 |
2 |  |  | 34 |  |  |  | 116 |  |  |  | 237 |  |  |  | 29 |  |  |  | 1 |  |  |  | 1 |  |  |  | 418 |
3 |  |  | 721 |  |  |  | 452 |  |  |  | 239 |  |  |  | 35 |  |  |  | 6 |  |  |  | 4 |  |  |  | 1,457 |
4 |  |  | 1,217 |  |  |  | 1,063 |  |  |  | 517 |  |  |  | 115 |  |  |  | 5 |  |  |  | 2 |  |  |  | 2,919 |
5 |  |  | 1,091 |  |  |  | 844 |  |  |  | 483 |  |  |  | 96 |  |  |  | 9 |  |  |  | 1 |  |  |  | 2,524 |
6 |  |  | 1,078 |  |  |  | 864 |  |  |  | 440 |  |  |  | 73 |  |  |  | 3 |  |  |  | 2 |  |  |  | 2,460 |
Total retail loans |  | $ | 4,163 |  |  | $ | 3,525 |  |  | $ | 2,239 |  |  | $ | 393 |  |  | $ | 26 |  |  | $ | 14 |  |  | $ | 10,360 |
Total Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FICO Band |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | $ | 94,541 |  |  | $ | 44,325 |  |  | $ | 17,202 |  |  | $ | 3,955 |  |  | $ | 1,890 |  |  | $ | 847 |  |  | $ | 162,760 |
2 |  |  | 72,711 |  |  |  | 27,534 |  |  |  | 8,129 |  |  |  | 1,023 |  |  |  | 358 |  |  |  | 233 |  |  |  | 109,988 |
3 |  |  | 126,610 |  |  |  | 46,235 |  |  |  | 17,259 |  |  |  | 2,301 |  |  |  | 580 |  |  |  | 153 |  |  |  | 193,138 |
4 |  |  | 148,648 |  |  |  | 57,766 |  |  |  | 21,762 |  |  |  | 2,648 |  |  |  | 436 |  |  |  | 73 |  |  |  | 231,333 |
5 |  |  | 143,735 |  |  |  | 58,783 |  |  |  | 20,456 |  |  |  | 2,780 |  |  |  | 334 |  |  |  | 87 |  |  |  | 226,175 |
6 |  |  | 247,902 |  |  |  | 104,947 |  |  |  | 32,788 |  |  |  | 4,666 |  |  |  | 453 |  |  |  | 83 |  |  |  | 390,839 |
Total loans |  | $ | 834,147 |  |  | $ | 339,590 |  |  | $ | 117,596 |  |  | $ | 17,373 |  |  | $ | 4,051 |  |  | $ | 1,476 |  |  | $ | 1,314,233 |
(1) | Includes loans originated during the nine months ended September 30, 2021.
Amortized Cost Basis in Past-Due Loans | The contractual delinquency of the net finance receivables portfolio by product and aging for the periods indicated are as follows:
|  | September 30, 2021 |
|  | Small |  |  | Large |  |  | Automobile |  |  | Retail |  |  | Total |
In thousands |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |
Current |  | $ | 355,777 |  |  |  | 84.7 | % |  | $ | 791,046 |  |  |  | 89.6 | % |  | $ | 1,223 |  |  |  | 69.6 | % |  | $ | 8,429 |  |  |  | 81.4 | % |  | $ | 1,156,475 |  |  |  | 88.0 | %
1 to 29 days past due |  |  | 35,897 |  |  |  | 8.6 | % |  |  | 58,945 |  |  |  | 6.7 | % |  |  | 391 |  |  |  | 22.3 | % |  |  | 1,244 |  |  |  | 12.0 | % |  |  | 96,477 |  |  |  | 7.3 | %
Delinquent accounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30 to 59 days |  |  | 8,791 |  |  |  | 2.1 | % |  |  | 11,130 |  |  |  | 1.3 | % |  |  | 75 |  |  |  | 4.2 | % |  |  | 166 |  |  |  | 1.6 | % |  |  | 20,162 |  |  |  | 1.6 | %
60 to 89 days |  |  | 6,991 |  |  |  | 1.7 | % |  |  | 7,906 |  |  |  | 0.9 | % |  |  | 21 |  |  |  | 1.2 | % |  |  | 157 |  |  |  | 1.5 | % |  |  | 15,075 |  |  |  | 1.1 | %
90 to 119 days |  |  | 5,390 |  |  |  | 1.3 | % |  |  | 5,636 |  |  |  | 0.6 | % |  |  | 38 |  |  |  | 2.2 | % |  |  | 138 |  |  |  | 1.3 | % |  |  | 11,202 |  |  |  | 0.9 | %
120 to 149 days |  |  | 3,760 |  |  |  | 0.9 | % |  |  | 4,310 |  |  |  | 0.5 | % |  |  | 5 |  |  |  | 0.3 | % |  |  | 101 |  |  |  | 1.0 | % |  |  | 8,176 |  |  |  | 0.6 | %
150 to 179 days |  |  | 2,996 |  |  |  | 0.7 | % |  |  | 3,541 |  |  |  | 0.4 | % |  |  | 4 |  |  |  | 0.2 | % |  |  | 125 |  |  |  | 1.2 | % |  |  | 6,666 |  |  |  | 0.5 | %
Total delinquency |  | $ | 27,928 |  |  |  | 6.7 | % |  | $ | 32,523 |  |  |  | 3.7 | % |  | $ | 143 |  |  |  | 8.1 | % |  | $ | 687 |  |  |  | 6.6 | % |  | $ | 61,281 |  |  |  | 4.7 | %
Total net finance receivables |  | $ | 419,602 |  |  |  | 100.0 | % |  | $ | 882,514 |  |  |  | 100.0 | % |  | $ | 1,757 |  |  |  | 100.0 | % |  | $ | 10,360 |  |  |  | 100.0 | % |  | $ | 1,314,233 |  |  |  | 100.0 | %
Net finance receivables in nonaccrual status |  | $ | 13,884 |  |  |  | 3.3 | % |  | $ | 16,612 |  |  |  | 1.9 | % |  | $ | 83 |  |  |  | 4.7 | % |  | $ | 452 |  |  |  | 4.4 | % |  | $ | 31,031 |  |  |  | 2.4 | %
|  | December 31, 2020 |
|  | Small |  |  | Large |  |  | Automobile |  |  | Retail |  |  | Total |
In thousands |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |
Current |  | $ | 342,744 |  |  |  | 85.0 | % |  | $ | 633,806 |  |  |  | 88.6 | % |  | $ | 2,729 |  |  |  | 70.2 | % |  | $ | 11,188 |  |  |  | 79.3 | % |  | $ | 990,467 |  |  |  | 87.2 | %
1 to 29 days past due |  |  | 32,615 |  |  |  | 8.1 | % |  |  | 50,145 |  |  |  | 7.0 | % |  |  | 864 |  |  |  | 22.2 | % |  |  | 1,718 |  |  |  | 12.2 | % |  |  | 85,342 |  |  |  | 7.5 | %
Delinquent accounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30 to 59 days |  |  | 8,195 |  |  |  | 2.1 | % |  |  | 9,808 |  |  |  | 1.4 | % |  |  | 49 |  |  |  | 1.2 | % |  |  | 329 |  |  |  | 2.3 | % |  |  | 18,381 |  |  |  | 1.6 | %
60 to 89 days |  |  | 6,907 |  |  |  | 1.7 | % |  |  | 7,639 |  |  |  | 1.1 | % |  |  | 119 |  |  |  | 3.1 | % |  |  | 290 |  |  |  | 2.1 | % |  |  | 14,955 |  |  |  | 1.3 | %
90 to 119 days |  |  | 4,866 |  |  |  | 1.2 | % |  |  | 5,407 |  |  |  | 0.8 | % |  |  | 29 |  |  |  | 0.7 | % |  |  | 194 |  |  |  | 1.4 | % |  |  | 10,496 |  |  |  | 0.9 | %
120 to 149 days |  |  | 4,193 |  |  |  | 1.0 | % |  |  | 4,648 |  |  |  | 0.6 | % |  |  | 37 |  |  |  | 1.0 | % |  |  | 207 |  |  |  | 1.5 | % |  |  | 9,085 |  |  |  | 0.8 | %
150 to 179 days |  |  | 3,542 |  |  |  | 0.9 | % |  |  | 3,757 |  |  |  | 0.5 | % |  |  | 62 |  |  |  | 1.6 | % |  |  | 172 |  |  |  | 1.2 | % |  |  | 7,533 |  |  |  | 0.7 | %
Total delinquency |  | $ | 27,703 |  |  |  | 6.9 | % |  | $ | 31,259 |  |  |  | 4.4 | % |  | $ | 296 |  |  |  | 7.6 | % |  | $ | 1,192 |  |  |  | 8.5 | % |  | $ | 60,450 |  |  |  | 5.3 | %
Total net finance receivables |  | $ | 403,062 |  |  |  | 100.0 | % |  | $ | 715,210 |  |  |  | 100.0 | % |  | $ | 3,889 |  |  |  | 100.0 | % |  | $ | 14,098 |  |  |  | 100.0 | % |  | $ | 1,136,259 |  |  |  | 100.0 | %
Net finance receivables in nonaccrual status |  | $ | 14,617 |  |  |  | 3.6 | % |  | $ | 16,683 |  |  |  | 2.3 | % |  | $ | 216 |  |  |  | 5.6 | % |  | $ | 723 |  |  |  | 5.1 | % |  | $ | 32,239 |  |  |  | 2.8 | %
Summary Of Impact Of Allowance For Credit Losses During The period | The following table illustrates the impacts to the allowance for credit losses for the periods indicated:
|  | Three Months Ended (Unaudited) |
In thousands |  | September 30, 2021 |  |  | September 30, 2020 |
Beginning balance |  | $ | 139,400 |  |  | $ | 142,000 |
COVID-19 reserve release |  |  | (2,000 | ) |  |  | (1,500 | )
General reserve build due to portfolio change |  |  | 12,700 |  |  |  | 3,500 |
Ending balance |  | $ | 150,100 |  |  | $ | 144,000 |
Allowance for credit losses as a percentage of net finance receivables |  |  | 11.4 | % |  |  | 13.6 | %
|  | Nine Months Ended (Unaudited) |
In thousands |  | September 30, 2021 |  |  | September 30, 2020 |
Beginning balance |  | $ | 150,000 |  |  | $ | 62,200 |
Impact of CECL adoption |  |  | — |  |  |  | 60,100 |
COVID-19 reserve build (release) |  |  | (14,900 | ) |  |  | 31,900 |
General reserve build (release) due to portfolio change |  |  | 15,000 |  |  |  | (10,200 | )
Ending balance |  | $ | 150,100 |  |  | $ | 144,000 |
Allowance for credit losses as a percentage of net finance receivables |  |  | 11.4 | % |  |  | 13.6 | %
Reconciliation of Allowance for Credit Losses | The following is a reconciliation of the allowance for credit losses by product for the three and nine months ended September 30, 2021 and 2020:
In thousands |  | Small |  |  | Large |  |  | Automobile |  |  | Retail |  |  | Total |
Beginning balance at July 1, 2021 |  | $ | 51,578 |  |  | $ | 85,649 |  |  | $ | 455 |  |  | $ | 1,718 |  |  | $ | 139,400 |
Provision for credit losses |  |  | 13,936 |  |  |  | 12,195 |  |  |  | (101 | ) |  |  | 66 |  |  |  | 26,096 |
Credit losses |  |  | (8,190 | ) |  |  | (7,897 | ) |  |  | (62 | ) |  |  | (232 | ) |  |  | (16,381 | )
Recoveries |  |  | 462 |  |  |  | 475 |  |  |  | 27 |  |  |  | 21 |  |  |  | 985 |
Ending balance at September 30, 2021 |  | $ | 57,786 |  |  | $ | 90,422 |  |  | $ | 319 |  |  | $ | 1,573 |  |  | $ | 150,100 |
Net finance receivables at September 30, 2021 |  | $ | 419,602 |  |  | $ | 882,514 |  |  | $ | 1,757 |  |  | $ | 10,360 |  |  | $ | 1,314,233 |
Allowance as percentage of net finance receivables at September 30, 2021 |  |  | 13.8 | % |  |  | 10.2 | % |  |  | 18.2 | % |  |  | 15.2 | % |  |  | 11.4 | %
In thousands |  | Small |  |  | Large |  |  | Automobile |  |  | Retail |  |  | Total |
Beginning balance at July 1, 2020 |  | $ | 58,205 |  |  | $ | 79,305 |  |  | $ | 1,160 |  |  | $ | 3,330 |  |  | $ | 142,000 |
Provision for credit losses |  |  | 9,662 |  |  |  | 12,507 |  |  |  | (102 | ) |  |  | 22 |  |  |  | 22,089 |
Credit losses |  |  | (11,549 | ) |  |  | (9,331 | ) |  |  | (85 | ) |  |  | (409 | ) |  |  | (21,374 | )
Recoveries |  |  | 698 |  |  |  | 521 |  |  |  | 22 |  |  |  | 44 |  |  |  | 1,285 |
Ending balance at September 30, 2020 |  | $ | 57,016 |  |  | $ | 83,002 |  |  | $ | 995 |  |  | $ | 2,987 |  |  | $ | 144,000 |
Net finance receivables at September 30, 2020 |  | $ | 382,785 |  |  | $ | 655,932 |  |  | $ | 4,892 |  |  | $ | 15,945 |  |  | $ | 1,059,554 |
Allowance as percentage of net finance receivables at September 30, 2020 |  |  | 14.9 | % |  |  | 12.7 | % |  |  | 20.3 | % |  |  | 18.7 | % |  |  | 13.6 | %
In thousands |  | Small |  |  | Large |  |  | Automobile |  |  | Retail |  |  | Total |
Beginning balance at January 1, 2021 |  | $ | 59,410 |  |  | $ | 87,275 |  |  | $ | 783 |  |  | $ | 2,532 |  |  | $ | 150,000 |
Provision for credit losses |  |  | 26,905 |  |  |  | 31,378 |  |  |  | (292 | ) |  |  | 16 |  |  |  | 58,007 |
Credit losses |  |  | (29,918 | ) |  |  | (29,769 | ) |  |  | (234 | ) |  |  | (1,038 | ) |  |  | (60,959 | )
Recoveries |  |  | 1,389 |  |  |  | 1,538 |  |  |  | 62 |  |  |  | 63 |  |  |  | 3,052 |
Ending balance at September 30, 2021 |  | $ | 57,786 |  |  | $ | 90,422 |  |  | $ | 319 |  |  | $ | 1,573 |  |  | $ | 150,100 |
Net finance receivables at September 30, 2021 |  | $ | 419,602 |  |  | $ | 882,514 |  |  | $ | 1,757 |  |  | $ | 10,360 |  |  | $ | 1,314,233 |
Allowance as percentage of net finance receivables at September 30, 2021 |  |  | 13.8 | % |  |  | 10.2 | % |  |  | 18.2 | % |  |  | 15.2 | % |  |  | 11.4 | %
In thousands |  | Small |  |  | Large |  |  | Automobile |  |  | Retail |  |  | Total |
Beginning balance at January 1, 2020 |  | $ | 30,588 |  |  | $ | 29,148 |  |  | $ | 820 |  |  | $ | 1,644 |  |  | $ | 62,200 |
Impact of CECL adoption |  |  | 24,185 |  |  |  | 33,550 |  |  |  | 599 |  |  |  | 1,766 |  |  |  | 60,100 |
Provision for credit losses |  |  | 45,729 |  |  |  | 51,774 |  |  |  | 10 |  |  |  | 1,597 |  |  |  | 99,110 |
Credit losses |  |  | (45,497 | ) |  |  | (32,986 | ) |  |  | (511 | ) |  |  | (2,134 | ) |  |  | (81,128 | )
Recoveries |  |  | 2,011 |  |  |  | 1,516 |  |  |  | 77 |  |  |  | 114 |  |  |  | 3,718 |
Ending balance at September 30, 2020 |  | $ | 57,016 |  |  | $ | 83,002 |  |  | $ | 995 |  |  | $ | 2,987 |  |  | $ | 144,000 |
Net finance receivables at September 30, 2020 |  | $ | 382,785 |  |  | $ | 655,932 |  |  | $ | 4,892 |  |  | $ | 15,945 |  |  | $ | 1,059,554 |
Allowance as percentage of net finance receivables at September 30, 2020 |  |  | 14.9 | % |  |  | 12.7 | % |  |  | 20.3 | % |  |  | 18.7 | % |  |  | 13.6 | %
Summary of TDR Net Finance Receivables And TDR Allowance For Credit Losses | The amount of TDR net finance receivables and the related TDR allowance for credit losses for the periods indicated are as follows:
|  | September 30, 2021 |  |  | September 30, 2020 |
In thousands |  | TDR Net Finance Receivables |  |  | TDR Allowance for Credit Losses |  |  | TDR Net Finance Receivables |  |  | TDR Allowance for Credit Losses |
Small loans |  | $ | 3,564 |  |  | $ | 1,411 |  |  | $ | 6,006 |  |  | $ | 2,403 |
Large loans |  |  | 13,201 |  |  |  | 4,154 |  |  |  | 16,446 |  |  |  | 5,775 |
Automobile loans |  |  | 189 |  |  |  | 61 |  |  |  | 352 |  |  |  | 158 |
Retail loans |  |  | 63 |  |  |  | 20 |  |  |  | 79 |  |  |  | 35 |
Total |  | $ | 17,017 |  |  | $ | 5,646 |  |  | $ | 22,883 |  |  | $ | 8,371 |
Summary of Net Finance Receivables Modified and Classified as TDRs | The following tables provide the number and amount of net finance receivables modified and classified as TDRs during the periods presented:
|  | Three Months Ended |
|  | September 30, 2021 |  |  | September 30, 2020 |
Dollars in thousands |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |  |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |
Small loans |  |  | 511 |  |  | $ | 1,008 |  |  |  | 683 |  |  | $ | 2,183 |
Large loans |  |  | 450 |  |  |  | 2,524 |  |  |  | 431 |  |  |  | 1,359 |
Automobile loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Retail loans |  |  | 1 |  |  |  | 2 |  |  |  | 6 |  |  |  | 19 |
Total |  |  | 962 |  |  | $ | 3,534 |  |  |  | 1,120 |  |  | $ | 3,561 |
|  | Nine Months Ended |
|  | September 30, 2021 |  |  | September 30, 2020 |
Dollars in thousands |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |  |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |
Small loans |  |  | 1,879 |  |  | $ | 3,548 |  |  |  | 3,372 |  |  | $ | 10,353 |
Large loans |  |  | 1,533 |  |  |  | 8,032 |  |  |  | 2,184 |  |  |  | 6,821 |
Automobile loans |  |  | 2 |  |  |  | 13 |  |  |  | 1 |  |  |  | 3 |
Retail loans |  |  | 6 |  |  |  | 10 |  |  |  | 26 |  |  |  | 96 |
Total |  |  | 3,420 |  |  | $ | 11,603 |  |  |  | 5,583 |  |  | $ | 17,273 |
(1) | Represents the post-modification net finance receivables balance of loans that have been modified during the period and resulted in a TDR.
Summary of TDR Finance Receivables that Subsequently Defaulted | The following tables provide the number of accounts and balance of finance receivables that subsequently defaulted within the periods indicated (that were modified as a TDR in the preceding 12 months). The Company defines payment default as 90 days past due for this disclosure. The respective amounts and activity for the periods indicated are as follows:
|  | Three Months Ended |
|  | September 30, 2021 |  |  | September 30, 2020 |
Dollars in thousands |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |  |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |
Small loans |  |  | 286 |  |  | $ | 539 |  |  |  | 342 |  |  | $ | 619 |
Large loans |  |  | 214 |  |  |  | 1,100 |  |  |  | 214 |  |  |  | 1,045 |
Automobile loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Retail loans |  |  | 2 |  |  |  | 4 |  |  |  | 3 |  |  |  | 3 |
Total |  |  | 502 |  |  | $ | 1,643 |  |  |  | 559 |  |  | $ | 1,667 |
|  | Nine Months Ended |
|  | September 30, 2021 |  |  | September 30, 2020 |
Dollars in thousands |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |  |  | Number of Loans |  |  | TDR Net Finance Receivables (1) |
Small loans |  |  | 692 |  |  | $ | 1,263 |  |  |  | 1,506 |  |  | $ | 2,675 |
Large loans |  |  | 484 |  |  |  | 2,472 |  |  |  | 908 |  |  |  | 4,551 |
Automobile loans |  |  | 1 |  |  |  | 10 |  |  |  | — |  |  |  | — |
Retail loans |  |  | 5 |  |  |  | 9 |  |  |  | 31 |  |  |  | 54 |
Total |  |  | 1,182 |  |  | $ | 3,754 |  |  |  | 2,445 |  |  | $ | 7,280 |
(1) Only includes defaults occurring within 12 months of a loan being designated as a TDR. Represents the corresponding balance of TDR net finance receivables at the end of the month in which they defaulted.

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