| Schedule of consumer receivables |
Consumer receivables consisted of the following:
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
2023 |
|
|
2022 |
|
Loan receivables |
$ |
73,842 |
|
|
$ |
73,451 |
|
Instacash receivables |
|
97,586 |
|
|
|
77,688 |
|
Finance receivables |
|
171,428 |
|
|
|
151,139 |
|
Fees receivable |
|
13,671 |
|
|
|
14,019 |
|
Subscription receivables |
|
3,487 |
|
|
|
3,419 |
|
Deferred loan origination costs |
|
94 |
|
|
|
331 |
|
Accrued interest receivable |
|
1,472 |
|
|
|
1,068 |
|
Consumer receivables, before allowance for credit losses |
$ |
190,152 |
|
|
$ |
169,976 |
|
|
| Schedule of changes in the allowance for losses on consumer receivables |
Changes in the allowance for losses on loan receivables were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Beginning balance |
$ |
6,249 |
|
|
$ |
5,757 |
|
|
$ |
5,784 |
|
|
$ |
6,494 |
|
Provision for credit losses on receivables |
|
3,205 |
|
|
|
1,344 |
|
|
|
6,808 |
|
|
|
7,445 |
|
Loan receivables charged off |
|
(3,660 |
) |
|
|
(5,089 |
) |
|
|
(10,417 |
) |
|
|
(13,494 |
) |
Recoveries |
|
808 |
|
|
|
3,331 |
|
|
|
4,427 |
|
|
|
4,898 |
|
Ending balance |
$ |
6,602 |
|
|
$ |
5,343 |
|
|
$ |
6,602 |
|
|
$ |
5,343 |
|
Changes in the allowance for losses on Instacash receivables were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Beginning balance |
$ |
22,311 |
|
|
$ |
16,401 |
|
|
$ |
23,240 |
|
|
$ |
15,131 |
|
Provision for credit losses on receivables |
|
17,846 |
|
|
|
22,275 |
|
|
|
46,348 |
|
|
|
59,232 |
|
Instacash receivables charged off |
|
(23,217 |
) |
|
|
(28,681 |
) |
|
|
(62,815 |
) |
|
|
(75,360 |
) |
Recoveries |
|
4,820 |
|
|
|
6,332 |
|
|
|
14,987 |
|
|
|
17,324 |
|
Ending balance |
$ |
21,760 |
|
|
$ |
16,327 |
|
|
$ |
21,760 |
|
|
$ |
16,327 |
|
Changes in the allowance for losses on fees receivable were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Beginning balance |
$ |
2,100 |
|
|
$ |
548 |
|
|
$ |
908 |
|
|
$ |
420 |
|
Provision for credit losses on receivables |
|
2,628 |
|
|
|
2,553 |
|
|
|
10,671 |
|
|
|
6,758 |
|
Fees receivable charged off |
|
(2,957 |
) |
|
|
(3,246 |
) |
|
|
(11,082 |
) |
|
|
(8,731 |
) |
Recoveries |
|
627 |
|
|
|
744 |
|
|
|
1,901 |
|
|
|
2,152 |
|
Ending balance |
$ |
2,398 |
|
|
$ |
599 |
|
|
$ |
2,398 |
|
|
$ |
599 |
|
Changes in the allowance for losses on subscription receivables were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Beginning balance |
$ |
1,095 |
|
|
$ |
418 |
|
|
$ |
1,292 |
|
|
$ |
278 |
|
Provision for credit losses on receivables |
|
1,442 |
|
|
|
1,256 |
|
|
|
3,367 |
|
|
|
4,018 |
|
Subscription receivables charged off |
|
(1,452 |
) |
|
|
(1,487 |
) |
|
|
(4,173 |
) |
|
|
(4,426 |
) |
Recoveries |
|
228 |
|
|
|
177 |
|
|
|
827 |
|
|
|
494 |
|
Ending balance |
$ |
1,313 |
|
|
$ |
364 |
|
|
$ |
1,313 |
|
|
$ |
364 |
|
|
| Schedule of assessment of the repayment performance of loans |
The following is an assessment of the repayment performance of loan receivables as of September 30, 2023 and December 31, 2022 and presents the contractual delinquency of the loan receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
|
December 31, 2022 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
63,385 |
|
|
|
85.9 |
% |
|
$ |
63,578 |
|
|
|
86.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
5,856 |
|
|
|
7.9 |
% |
|
|
5,579 |
|
|
|
7.6 |
% |
61 to 90 days |
|
4,601 |
|
|
|
6.2 |
% |
|
|
4,294 |
|
|
|
5.8 |
% |
Total delinquency |
|
10,457 |
|
|
|
14.1 |
% |
|
|
9,873 |
|
|
|
13.4 |
% |
Loan receivables before allowance for credit losses |
$ |
73,842 |
|
|
|
100.0 |
% |
|
$ |
73,451 |
|
|
|
100.0 |
% |
Loan receivables that are 61 to 90 days contractually past due are placed on non-accrual status.
The following is an assessment of the repayment performance of Instacash receivables as of September 30, 2023 and December 31, 2022 and presents the contractual delinquency of the Instacash receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
|
December 31, 2022 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
82,813 |
|
|
|
84.9 |
% |
|
$ |
70,003 |
|
|
|
90.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
7,953 |
|
|
|
8.1 |
% |
|
|
7,685 |
|
|
|
9.9 |
% |
61 to 90 days |
|
6,820 |
|
|
|
7.0 |
% |
|
|
— |
|
|
|
0.0 |
% |
Total delinquency |
|
14,773 |
|
|
|
15.1 |
% |
|
|
7,685 |
|
|
|
9.9 |
% |
Instacash receivables before allowance for credit losses |
$ |
97,586 |
|
|
|
100.0 |
% |
|
$ |
77,688 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of fees receivable as of September 30, 2023 and December 31, 2022 and presents the contractual delinquency of the fees receivable portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
|
December 31, 2022 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
11,579 |
|
|
|
84.7 |
% |
|
$ |
10,645 |
|
|
|
75.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
1,118 |
|
|
|
8.2 |
% |
|
|
3,374 |
|
|
|
24.1 |
% |
61 to 90 days |
|
974 |
|
|
|
7.1 |
% |
|
|
— |
|
|
|
0.0 |
% |
Total delinquency |
|
2,092 |
|
|
|
15.3 |
% |
|
|
3,374 |
|
|
|
24.1 |
% |
Fees receivable before allowance for credit losses |
$ |
13,671 |
|
|
|
100.0 |
% |
|
$ |
14,019 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of subscription receivables as of September 30, 2023 and December 31, 2022 and presents the contractual delinquency of the subscription receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
|
December 31, 2022 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
2,477 |
|
|
|
71.1 |
% |
|
$ |
2,487 |
|
|
|
72.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
569 |
|
|
|
16.3 |
% |
|
|
534 |
|
|
|
15.6 |
% |
61 to 90 days |
|
441 |
|
|
|
12.6 |
% |
|
|
398 |
|
|
|
11.6 |
% |
Total delinquency |
|
1,010 |
|
|
|
28.9 |
% |
|
|
932 |
|
|
|
27.2 |
% |
Subscription receivables before allowance for credit losses |
$ |
3,487 |
|
|
|
100.0 |
% |
|
$ |
3,419 |
|
|
|
100.0 |
% |
|