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v3.23.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2023
Accounting Policies [Abstract] |
Schedule of other income |
Schedule of other income |  |  |  |  |  |  |  |
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Origination and servicing fees from third party receivables |  | $ | 2,738 |  |  | $ | 844 |
Direct mail revenues |  |  | – |  |  |  | 774 |
Sales tax refunds |  |  | 260 |  |  |  | 144 |
Other |  |  | 40 |  |  |  | 144 |
Other income for the period |  | $ | 3,038 |  |  | $ | 1,906 |
Supplemental balance sheet information related to leases |
Supplemental balance sheet information related to leases |  |  |  |  |  |  |  |
|  | March 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Operating Leases |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | $ | 28,397 |  |  | $ | 28,397 |
Less: Accumulated amortization right-of-use assets |  |  | (23,611 | ) |  |  | (22,613 | )
Operating lease right-of-use assets, net |  | $ | 4,786 |  |  | $ | 5,784 |
Operating lease liabilities |  | $ | (5,154 | ) |  | $ | (6,234 | )
Finance Leases |  |  |  |  |  |  |  |
Property and equipment, at cost |  | $ | 3,454 |  |  | $ | 3,407 |
Less: Accumulated depreciation |  |  | (3,335 | ) |  |  | (3,301 | )
Property and equipment, net |  | $ | 119 |  |  | $ | 106 |
Finance lease liabilities |  | $ | (125 | ) |  | $ | (177 | )
Weighted Average Discount Rate |  |  |  |  |  |  |  |
Operating lease |  |  | 5.0% |  |  |  | 5.0% |
Finance lease |  |  | 6.5% |  |  |  | 6.5% |
Schedule of maturities of lease liabilities |
Schedule of maturities of lease liabilities |  |  |  |  |  |  |  |
Maturities of lease liabilities were as follows: |  |  |  |  |  |
(In thousands) |  | Operating |  |  | Finance |
Year Ending March 31, |  | Lease |  |  | Lease |
2023 |  | $ | 2,864 |  |  | $ | 55 |
2024 |  |  | 1,493 |  |  |  | 37 |
2025 |  |  | 747 |  |  |  | 20 |
2026 |  |  | 455 |  |  |  | 11 |
2027 |  |  | 452 |  |  |  | 11 |
Thereafter |  |  | 565 |  |  |  | 1 |
Total undiscounted lease payments |  |  | 6,576 |  |  |  | 135 |
Less amounts representing interest |  |  | (1,422 | ) |  |  | (260 | )
Lease Liability |  | $ | 5,154 |  |  | $ | (125 | )
Lease information |
Lease information |  |  |  |  |  |  |  |
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Operating lease cost |  | $ | 1,360 |  |  | $ | 1,761 |
Finance lease cost |  |  | 101 |  |  |  | 298 |
Total lease cost |  | $ | 1,461 |  |  | $ | 2,059 |
Supplemental cash flow information related to leases |
Supplemental cash flow information related to leases |  |  |  |  |  |  |  |
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 1,360 |  |  | $ | 1,788 |
Operating cash flows from finance leases |  |  | 99 |  |  |  | 282 |
Financing cash flows from finance leases |  |  | 2 |  |  |  | 16 |
Schedule of option activity |
Schedule of option activity |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Weighted |
|  | Number of |  |  | Weighted |  |  | Average |
|  | Shares |  |  | Average |  |  | Remaining |
|  | (in thousands) |  |  | Exercise Price |  |  | Contractual Term |
Options outstanding at the beginning of period |  |  | 11,167 |  |  | $ | 5.21 |  |  |  | N/A |
Granted |  |  | – |  |  |  | – |  |  |  | N/A |
Exercised |  |  | (1,086 | ) |  |  | 6.41 |  |  |  | N/A |
Forfeited |  |  | – |  |  |  | – |  |  |  | N/A |
Options outstanding at the end of period |  |  | 10,081 |  |  | $ | 5.08 |  |  |  | 3.22 years |
Options exercisable at the end of period |  |  | 6,871 |  |  | $ | 4.43 |  |  |  | 2.29 years |
Schedule of stock options outstanding and exercisable |
Schedule of stock options outstanding and exercisable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Number of shares as of |  |  | Number of shares as of |
|  | March 31, 2023 |  |  | December 31, 2022 |
|  | Outstanding |  |  | Exercisable |  |  | Outstanding |  |  | Exercisable |
|  | (In thousands) |  |  | (In thousands) |
Range of exercise prices: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$2.00 - $2.99 |  |  | 1,440 |  |  |  | 770 |  |  |  | 1,445 |  |  |  | 775 |
$3.00 - $3.99 |  |  | 3,646 |  |  |  | 3,356 |  |  |  | 3,785 |  |  |  | 3,495 |
$4.00 - $4.99 |  |  | 2,677 |  |  |  | 1,740 |  |  |  | 2,739 |  |  |  | 1,802 |
$5.00 - $5.99 |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
$6.00 - $6.99 |  |  | – |  |  |  | – |  |  |  | 740 |  |  |  | 740 |
$7.00 - $7.99 |  |  | 608 |  |  |  | 608 |  |  |  | 748 |  |  |  | 748 |
$10.00 - $10.99 |  |  | 1,710 |  |  |  | 397 |  |  |  | 1,710 |  |  |  | 210 |
Total shares |  |  | 10,081 |  |  |  | 6,871 |  |  |  | 11,167 |  |  |  | 7,770 |
Schedule of purchases of company stock |
Schedule of purchases of company stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended |
|  | March 31, 2023 |  |  | March 31, 2022 |
|  | Shares |  |  | Avg. Price |  |  | Shares |  |  | Avg. Price |
Open market purchases |  |  | 263,185 |  |  | $ | 10.42 |  |  |  | 922,363 |  |  | $ | 11.19 |
Shares redeemed upon net exercise of stock options |  |  | 458,392 |  |  |  | 9.93 |  |  |  | 295,088 |  |  |  | 12.68 |
Total stock purchases |  |  | 721,577 |  |  | $ | 10.11 |  |  |  | 1,217,451 |  |  | $ | 11.55 |

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