v3.24.2
LOANS RECEIVABLE (Tables)
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Schedule of the Components of Loans Receivable, Net
The following is a summary of the Company’s loans receivable, net:
(In Thousands)June 30, 2024December 31, 2023
Loans Receivable, Gross$168,259 $176,845 
   Unamortized Fees(8,695)(9,402)
Loans Receivable, Amortized Cost159,564 167,443 
   Allowance for Loan Losses(40,242)(40,620)
Loans Receivable, Net of Allowances and Unamortized Fees1
$119,322 $126,823 
1 Loans Receivable, Net of Allowances and Unamortized Fees, attributable to Four was $10.8 million and $13.9 million as of June 30, 2024 and December 31, 2023, respectively.
Schedule of Loan Portfolio Credit Quality Indicators Below is a summary of the credit quality of the Company's loan portfolio as of June 30, 2024 and December 31, 2023 by FICO score as determined at the time of loan origination:
FICO Score CategoryJune 30, 2024December 31, 2023
600 or Less7.0 %6.5 %
Between 600 and 70070.7 %73.5 %
700 or Greater11.5 %11.2 %
No Score Identified10.8 %8.8 %
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:
As of June 30, 2024 (In Thousands)
20242023
2022 and Prior
Revolving LoansTotal
FICO Score Category:
600 or Less$— $— $— $11,275 $11,275 
Between 600 and 700— — — 113,055 113,055 
700 or Greater— — — 17,759 17,759 
No Score Identified17,475 — — — 17,475 
Total Amortized Cost$17,475 $— $— $142,089 $159,564 
Gross Charge-offs by Origination Year for the Six Months Ended June 30, 2024
$2,565 $3,017 $— $21,596 $27,178 
Schedule of Aging of the Loans Receivable Balance
Included in the table below is an aging of the loans receivable, gross balance:
(Dollar Amounts in Thousands)
Aging CategoryJune 30, 2024December 31, 2023
30-59 Days Past Due6.7 %7.3 %
60-89 Days Past Due4.2 %3.8 %
90 or More Days Past Due4.7 %5.4 %
Past Due Loans Receivable15.6 %16.5 %
Current Loans Receivable84.4 %83.5 %
Balance of Credit Card Loans on Nonaccrual Status$5,002 $4,482 
Balance of Loans Receivable Greater than 90 Days Past Due and Still Accruing Interest and Fees
$— $— 
Schedule of Allowance for Loan Losses
The table below presents the components of the allowance for loan losses:
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2024202320242023
Beginning Balance$38,997 $39,781 $40,620 $42,428 
Provision for Loan Losses12,035 8,791 23,084 17,505 
Charge-offs(12,755)(10,882)(27,178)(23,620)
Recoveries1,965 1,256 3,716 2,633 
Ending Balance$40,242 $38,946 $40,242 $38,946