XML 39 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Loans and Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2020
Text Block [Abstract]  
Summary of Inclusive Capitalized Loans

The following table shows the major classification of loans, inclusive of capitalized loan origination costs, at September 30, 2020 and December 31, 2019.

 

 

 

September 30, 2020

 

 

December 31, 2019

 

(Dollars in thousands)

 

Amount

 

 

As a Percent of

Gross Loans

 

 

Amount

 

 

As a Percent of

Gross Loans

 

Recreation

 

$

802,938

 

 

 

63

%

 

$

713,332

 

 

 

62

%

Home improvement

 

 

315,442

 

 

 

25

 

 

 

247,324

 

 

 

21

 

Commercial

 

 

71,369

 

 

 

5

 

 

 

69,767

 

 

 

6

 

Medallion

 

 

91,298

 

 

 

7

 

 

 

130,432

 

 

 

11

 

Strategic partnership

 

 

7

 

 

 

—

 

 

 

—

 

 

 

—

 

Total gross loans

 

 

1,281,054

 

 

 

100

%

 

 

1,160,855

 

 

 

100

%

Allowance for loan losses

 

 

(90,510

)

 

 

 

 

 

 

(46,093

)

 

 

 

 

Total net loans

 

$

1,190,544

 

 

 

 

 

 

$

1,114,762

 

 

 

 

 

 
Schedule of Activity of Gross Loans

The following tables show the activity of the gross loans for the three and nine months ended September 30, 2020 and 2019.

 

Three Months Ended September 30, 2020

(Dollars in thousands)

 

Recreation

 

 

Home

Improvement

 

 

Commercial

 

 

Medallion

 

 

Strategic Partnership

 

 

Total

 

Gross loans – June 30, 2020

 

$

786,785

 

 

$

282,072

 

 

$

71,476

 

 

$

120,253

 

 

$

8

 

 

$

1,260,594

 

Loan originations

 

 

73,534

 

 

 

62,515

 

 

 

900

 

 

 

—

 

 

 

142

 

 

 

137,091

 

Principal payments, sales and maturities

 

 

(54,161

)

 

 

(29,312

)

 

 

(1,318

)

 

 

(401

)

 

 

(143

)

 

 

(85,335

)

Charge-offs, net

 

 

(850

)

 

 

(65

)

 

 

3

 

 

 

(15,304

)

 

 

—

 

 

 

(16,216

)

Transfer to loan collateral in process of foreclosure, net

 

 

(2,833

)

 

 

—

 

 

 

—

 

 

 

(10,590

)

 

 

—

 

 

 

(13,423

)

Amortization of origination costs

 

 

(2,093

)

 

 

509

 

 

 

2

 

 

 

(99

)

 

 

—

 

 

 

(1,681

)

Amortization of loan premium

 

 

(49

)

 

 

(81

)

 

 

—

 

 

 

(763

)

 

 

—

 

 

 

(893

)

FASB origination costs

 

 

2,605

 

 

 

(196

)

 

 

—

 

 

 

2

 

 

 

—

 

 

 

2,411

 

Paid-in-kind interest

 

 

—

 

 

 

—

 

 

 

306

 

 

 

—

 

 

 

—

 

 

 

306

 

Transfer to other foreclosed property

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,800

)

 

 

—

 

 

 

(1,800

)

Gross loans – September 30, 2020

 

$

802,938

 

 

$

315,442

 

 

$

71,369

 

 

$

91,298

 

 

$

7

 

 

$

1,281,054

 

 

Nine Months Ended September 30, 2020

(Dollars in thousands)

 

Recreation

 

 

Home

Improvement

 

 

Commercial

 

 

Medallion

 

 

Strategic Partnership

 

 

Total

 

Gross loans – December 31, 2019

 

$

713,332

 

 

$

247,324

 

 

$

69,767

 

 

$

130,432

 

 

$

—

 

 

$

1,160,855

 

Loan originations

 

 

249,383

 

 

 

140,693

 

 

 

6,075

 

 

 

—

 

 

 

295

 

 

 

396,446

 

Principal payments, sales and maturities

 

 

(140,688

)

 

 

(72,034

)

 

 

(5,422

)

 

 

(4,180

)

 

 

(288

)

 

 

(222,612

)

Charge-offs, net

 

 

(10,796

)

 

 

(897

)

 

 

3

 

 

 

(17,124

)

 

 

—

 

 

 

(28,814

)

Transfer to loan collateral in process of foreclosure, net

 

 

(10,615

)

 

 

—

 

 

 

—

 

 

 

(14,934

)

 

 

—

 

 

 

(25,549

)

Amortization of origination costs

 

 

(5,853

)

 

 

1,406

 

 

 

6

 

 

 

(131

)

 

 

—

 

 

 

(4,572

)

Amortization of loan premium

 

 

(152

)

 

 

(248

)

 

 

—

 

 

 

(1,001

)

 

 

—

 

 

 

(1,401

)

FASB origination costs

 

 

8,327

 

 

 

(802

)

 

 

—

 

 

 

36

 

 

 

—

 

 

 

7,561

 

Paid-in-kind interest

 

 

—

 

 

 

—

 

 

 

940

 

 

 

—

 

 

 

—

 

 

 

940

 

Transfer to other foreclosed property

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,800

)

 

 

—

 

 

 

(1,800

)

Gross loans – September 30, 2020

 

$

802,938

 

 

$

315,442

 

 

$

71,369

 

 

$

91,298

 

 

$

7

 

 

$

1,281,054

 

 

Three Months Ended September 30, 2019

(Dollars in thousands)

 

Recreation

 

 

Home

Improvement

 

 

Commercial

 

 

Medallion

 

 

Total

 

Gross loans – June 30, 2019

 

$

668,540

 

 

$

209,549

 

 

$

64,442

 

 

$

145,944

 

 

$

1,088,475

 

Loan originations

 

 

82,662

 

 

 

42,641

 

 

 

4,750

 

 

—

 

 

 

130,053

 

Principal payments, sales and maturities

 

 

(39,068

)

 

 

(21,096

)

 

 

(375

)

 

 

(4,013

)

 

 

(64,552

)

Charge-offs, net

 

 

(3,489

)

 

 

(51

)

 

 

(819

)

 

 

(1,535

)

 

 

(5,894

)

Transfer to loan collateral in process of foreclosure, net

 

 

(3,429

)

 

—

 

 

—

 

 

 

(3,005

)

 

 

(6,434

)

Amortization of origination costs

 

 

(1,723

)

 

 

367

 

 

 

2

 

 

 

(10

)

 

 

(1,364

)

Amortization of loan premium

 

 

(59

)

 

 

(107

)

 

—

 

 

 

(547

)

 

 

(713

)

FASB origination costs

 

 

2,959

 

 

 

(577

)

 

 

(3

)

 

 

120

 

 

 

2,499

 

Paid-in-kind interest

 

—

 

 

—

 

 

 

212

 

 

—

 

 

 

212

 

Gross loans – September 30, 2019

 

$

706,393

 

 

$

230,726

 

 

$

68,209

 

 

$

136,954

 

 

$

1,142,282

 

 

Nine Months Ended September 30, 2019

(Dollars in thousands)

 

Recreation

 

 

Home

Improvement

 

 

Commercial

 

 

Medallion

 

 

Total

 

Gross loans – December 31, 2018

 

$

587,038

 

 

$

183,155

 

 

$

64,083

 

 

$

183,606

 

 

$

1,017,882

 

Loan originations

 

 

248,989

 

 

 

102,821

 

 

 

14,520

 

 

—

 

 

 

366,330

 

Principal payments, sales and maturities

 

 

(112,208

)

 

 

(54,168

)

 

 

(10,180

)

 

 

(10,612

)

 

 

(187,168

)

Charge-offs, net

 

 

(10,853

)

 

 

(295

)

 

 

(819

)

 

 

(18,166

)

 

 

(30,133

)

Transfer to loan collateral in process of foreclosure, net

 

 

(10,311

)

 

—

 

 

—

 

 

 

(15,573

)

 

 

(25,884

)

Amortization of origination costs

 

 

(4,743

)

 

 

1,060

 

 

 

32

 

 

 

(102

)

 

 

(3,753

)

Amortization of loan premium

 

 

(195

)

 

 

(327

)

 

—

 

 

 

(2,364

)

 

 

(2,886

)

FASB origination costs

 

 

8,676

 

 

 

(1,520

)

 

 

(64

)

 

 

165

 

 

 

7,257

 

Paid-in-kind interest

 

—

 

 

—

 

 

 

637

 

 

—

 

 

 

637

 

Gross loans – September 30, 2019

 

$

706,393

 

 

$

230,726

 

 

$

68,209

 

 

$

136,954

 

 

$

1,142,282

 

 
Summary of Activity in Allowance for Loan Losses

The following table sets forth the activity in the allowance for loan losses for the three and nine months ended September 30, 2020 and 2019.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended

September 30,

 

(Dollars in thousands)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Allowance for loan losses – beginning

   balance

 

$

66,977

 

 

$

40,670

 

 

$

46,093

 

 

$

36,395

 

Charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recreation

 

 

(3,595

)

 

 

(5,444

)

 

 

(17,546

)

 

 

(16,366

)

Home improvement

 

 

(643

)

 

 

(568

)

 

 

(2,202

)

 

 

(1,655

)

Commercial

 

 

—

 

 

 

(819

)

 

 

—

 

 

 

(819

)

Medallion

 

 

(15,448

)

 

 

(2,378

)

 

 

(19,146

)

 

 

(20,408

)

Total charge-offs

 

 

(19,686

)

 

 

(9,209

)

 

 

(38,894

)

 

 

(39,248

)

Recoveries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recreation

 

 

2,745

 

 

 

1,955

 

 

 

6,750

 

 

 

5,513

 

Home improvement

 

 

578

 

 

 

517

 

 

 

1,304

 

 

 

1,360

 

Commercial

 

 

3

 

 

 

—

 

 

 

3

 

 

 

—

 

Medallion

 

 

144

 

 

 

843

 

 

 

2,023

 

 

 

2,242

 

Total recoveries

 

 

3,470

 

 

 

3,315

 

 

 

10,080

 

 

 

9,115

 

Net charge-offs(1)

 

 

(16,216

)

 

 

(5,894

)

 

 

(28,814

)

 

 

(30,133

)

Provision for loan losses

 

 

39,749

 

 

 

8,337

 

 

 

73,231

 

 

 

36,851

 

Allowance for loan losses – ending balance(2) (3)

 

$

90,510

 

 

$

43,113

 

 

$

90,510

 

 

$

43,113

 

 

(1)

As of September 30, 2020, cumulative net charge-offs of loans and loan collateral in process of foreclosure in the medallion loan portfolio were $268,745, representing collection opportunities for the Company.

(2)

As of September 30, 2020, the general reserves previously recorded for the Company’s medallion loan portfolio had been reversed as all loans had been deemed impaired and written down to collateral value.    

(3)

As of September 30, 2020, there was no allowance for loan losses and net charge-offs related to the strategic partnership loans.
Summary of Allowance for Loan Losses by Type

The following tables set forth the allowance for loan losses by type as of September 30, 2020 and December 31, 2019.

 

September 30, 2020

(Dollars in thousands)

 

Amount

 

 

Percentage of

Allowance

 

 

Allowance as a

Percent of Loan

Category

 

Recreation

 

$

27,982

 

 

 

31

%

 

 

3.48

%

Home improvement

 

 

4,751

 

 

 

5

 

 

 

1.51

 

Commercial

 

 

—

 

 

 

—

 

 

 

—

 

Medallion

 

 

57,777

 

 

 

64

 

 

 

63.28

 

Total

 

$

90,510

 

 

 

100

%

 

 

7.07

 

 

December 31, 2019

(Dollars in thousands)

 

Amount

 

 

Percentage of

Allowance

 

 

Allowance as a

Percent of Loan

Category

 

Recreation

 

$

18,075

 

 

 

39

%

 

 

2.53

%

Home improvement

 

 

2,608

 

 

 

6

 

 

 

1.05

 

Commercial

 

 

—

 

 

 

—

 

 

 

—

 

Medallion

 

 

25,410

 

 

 

55

 

 

 

19.48

 

Total

 

$

46,093

 

 

 

100

%

 

 

3.97

%

 
Summary of Total Nonaccrual Loans and Foregone Interest

The following table presents total nonaccrual loans and foregone interest, substantially all of which is in the medallion portfolio. The fluctuation in nonaccrual interest foregone is due to past due loans and market conditions.

 

(Dollars in thousands)

 

September 30, 2020

 

 

December 31, 2019

 

 

September 30, 2019

 

Total nonaccrual loans

 

$

111,858

 

 

$

26,484

 

 

$

27,078

 

Interest foregone quarter to date

 

 

625

 

 

 

1,121

 

 

 

403

 

Amount of foregone interest applied

   to principal in the quarter

 

 

42

 

 

 

53

 

 

 

75

 

Interest foregone year to date

 

 

1,922

 

 

 

2,152

 

 

 

915

 

Amount of foregone interest applied

   to principal in the year

 

 

86

 

 

 

254

 

 

 

244

 

Interest foregone life to date

 

 

5,491

 

 

 

2,744

 

 

 

2,432

 

Amount of foregone interest applied

   to principal in the life

 

 

2,155

 

 

 

471

 

 

 

655

 

Percentage of nonaccrual loans to gross loan

   portfolio

 

 

9

%

 

 

2

%

 

 

2

%

 
Summary of Performance Status of Loan

The following tables present the performance status of loans as of September 30, 2020 and December 31, 2019.

 

September 30, 2020

(Dollars in thousands)

 

Performing

 

 

Nonperforming

 

 

Total

 

 

Percentage of

Nonperforming

to Total

 

Recreation

 

$

796,369

 

 

$

6,569

 

 

$

802,938

 

 

 

0.82

%

Home improvement

 

 

315,339

 

 

 

103

 

 

 

315,442

 

 

 

0.03

 

Commercial

 

 

54,598

 

 

 

16,771

 

 

 

71,369

 

 

 

23.50

 

Medallion

 

 

—

 

 

 

91,298

 

(1)

 

91,298

 

 

 

100.00

 

Strategic partnership

 

 

7

 

 

 

—

 

 

 

7

 

 

 

—

 

Total

 

$

1,166,313

 

 

$

114,741

 

(2)

$

1,281,054

 

 

 

8.96

%

 

December 31, 2019

(Dollars in thousands)

 

Performing

 

 

Nonperforming

 

 

Total

 

 

Percentage of

Nonperforming

to Total

 

Recreation

 

$

705,070

 

 

$

8,262

 

 

$

713,332

 

 

 

1.16

%

Home improvement

 

 

247,139

 

 

 

185

 

 

 

247,324

 

 

 

0.07

 

Commercial

 

 

57,905

 

 

 

11,862

 

 

 

69,767

 

 

 

17.00

 

Medallion

 

 

88,248

 

 

 

42,184

 

 

 

130,432

 

 

 

32.34

 

Total

 

$

1,098,362

 

 

$

62,493

 

(2)

$

1,160,855

 

 

 

5.38

%

 

 

(1)

Includes medallion loan premiums of $3,145 as of September 30, 2020.

 

(2)

Includes $429 and $36,009 of TDRs as of September 30, 2020 and December 31, 2019, which are accruing and paying currently, but which are considered nonperforming loans under GAAP.

Summary of Attributes of Nonperforming Loan Portfolio

The following tables provide additional information on attributes of the nonperforming loan portfolio as of September 30, 2020 and 2019, and December 31, 2019, all of which had an allowance recorded against the principal balance.

 

 

 

September 30, 2020

 

 

December 31, 2019

 

 

September 30, 2019

 

(Dollars in thousands)

 

Recorded

Investment

 

 

Unpaid

Principal

Balance

 

 

Related

Allowance

 

 

Recorded

Investment

 

 

Unpaid

Principal

Balance

 

 

Related

Allowance

 

 

Recorded

Investment

 

 

Unpaid

Principal

Balance

 

 

Related

Allowance

 

With an allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recreation

 

$

6,569

 

 

$

6,569

 

 

$

229

 

 

$

8,262

 

 

$

8,262

 

 

$

329

 

 

$

6,708

 

 

$

6,708

 

 

$

256

 

Home improvement

 

 

103

 

 

 

103

 

 

 

2

 

 

 

185

 

 

 

185

 

 

 

3

 

 

 

239

 

 

 

239

 

 

 

4

 

Commercial

 

 

16,771

 

 

 

16,776

 

 

 

—

 

 

 

11,862

 

 

 

11,867

 

 

 

—

 

 

 

12,031

 

 

 

12,126

 

 

 

—

 

Medallion

 

 

91,298

 

 

 

91,579

 

 

 

57,777

 

 

 

42,184

 

 

 

42,650

 

 

 

14,824

 

 

 

8,100

 

 

 

8,660

 

 

 

3,160

 

Total nonperforming loans

  with an allowance

 

$

114,741

 

 

$

115,027

 

 

$

58,008

 

 

$

62,493

 

 

$

62,964

 

 

$

15,156

 

 

$

27,078

 

 

$

27,733

 

 

$

3,420

 

 

 

 

For the Three Months Ended September 30, 2020

For the Three Months Ended September 30, 2019

 

 

For the Nine Months Ended September 30, 2020

 

 

For the Nine Months Ended September 30, 2019

 

(Dollars in thousands)

 

Average

Investment

Recorded

 

 

Interest

Income

Recognized

 

 

Average

Investment

Recorded

 

 

Interest

Income

Recognized

 

 

Average

Investment

Recorded

 

 

Interest

Income

Recognized

 

 

Average

Investment

Recorded

 

 

Interest

Income

Recognized

 

With an allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recreation

 

$

6,730

 

 

$

167

 

 

$

6,687

 

 

$

152

 

 

$

6,882

 

 

$

428

 

 

$

6,921

 

 

$

366

 

Home improvement

 

 

103

 

 

 

—

 

 

 

243

 

 

 

2

 

 

 

103

 

 

 

2

 

 

 

245

 

 

 

2

 

Commercial

 

 

16,894

 

 

 

—

 

 

 

9,616

 

 

 

36

 

 

 

17,002

 

 

 

47

 

 

 

6,827

 

 

 

321

 

Medallion

 

 

90,032

 

 

 

121

 

 

 

13,418

 

 

 

27

 

 

 

90,396

 

 

 

992

 

 

 

11,279

 

 

 

39

 

Total nonperforming loans

   with an allowance

 

$

113,759

 

 

$

288

 

 

$

29,964

 

 

$

217

 

 

$

114,383

 

 

$

1,469

 

 

$

25,272

 

 

$

728

 
Summary of Aging of Loans

 

The following tables show the aging of all loans as of September 30, 2020 and December 31, 2019.

 

 

 

Days Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2020

(Dollars in thousands)

 

30-59

 

 

60-89

 

 

90 +

 

 

Total

 

 

Current

 

 

Total (1)

 

 

Recorded

Investment

90 Days and

Accruing

 

Recreation

 

$

16,070

 

 

$

6,092

 

 

$

4,074

 

 

$

26,236

 

 

$

750,857

 

 

$

777,093

 

 

$

—

 

Home improvement

 

 

733

 

 

 

281

 

 

 

102

 

 

 

1,116

 

 

 

317,476

 

 

 

318,592

 

 

 

—

 

Commercial

 

 

—

 

 

 

—

 

 

 

1,902

 

 

 

1,902

 

 

 

69,467

 

 

 

71,369

 

 

 

—

 

Medallion

 

 

8,208

 

 

 

64,289

 

 

 

7,325

 

 

 

79,822

 

 

 

8,332

 

 

 

88,154

 

 

 

—

 

Strategic partnership

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7

 

 

 

7

 

 

 

—

 

Total

 

$

25,011

 

 

$

70,662

 

 

$

13,403

 

 

$

109,076

 

 

$

1,146,139

 

 

$

1,255,215

 

 

$

—

 

 

(1)

Excludes loan premiums of $4,358 resulting from purchase price accounting and $21,481 of capitalized loan origination costs.

 

 

 

Days Past Due

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

(Dollars in thousands)

 

30-59

 

 

60-89

 

 

90 +

 

 

Total

 

 

Current

 

 

Total (1)

 

 

Recorded

Investment

90 Days and

Accruing

 

Recreation

 

$

27,357

 

 

$

8,426

 

 

$

5,800

 

 

$

41,583

 

 

$

648,227

 

 

$

689,810

 

 

$

—

 

Home improvement

 

 

931

 

 

 

427

 

 

 

184

 

 

 

1,542

 

 

 

249,288

 

 

 

250,830

 

 

 

—

 

Commercial

 

 

—

 

 

 

—

 

 

 

107

 

 

 

107

 

 

 

69,660

 

 

 

69,767

 

 

 

—

 

Medallion

 

 

12,491

 

 

 

2,118

 

 

 

2,572

 

 

 

17,181

 

 

 

109,106

 

 

 

126,287

 

 

 

—

 

Total

 

$

40,779

 

 

$

10,971

 

 

$

8,663

 

 

$

60,413

 

 

$

1,076,281

 

 

$

1,136,694

 

 

$

—

 

 

(1)

Excludes loan premiums of $5,758 resulting from purchase price accounting and $18,403 of capitalized loan origination costs.

Summary of TDRs

The following table shows the TDRs which the Company entered into during the three and nine months ended September 30, 2020.

 

(Dollars in thousands)

 

Number of

Loans

 

 

Pre-

Modification

Investment

 

 

Post-

Modification

Investment

 

Three months ended September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

     Recreation

 

 

18

 

 

$

254

 

 

$

229

 

     Medallion

 

 

3

 

 

 

448

 

 

 

448

 

Nine months ended September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

     Recreation

 

 

57

 

 

$

722

 

 

$

510

 

     Medallion

 

 

33

 

 

 

14,089

 

 

 

14,089

 

 

The following table shows the TDRs which the Company entered into during the three and nine months ended September 30, 2019.

 

(Dollars in thousands)

 

Number of

Loans

 

 

Pre-

Modification

Investment

 

 

Post-

Modification

Investment

 

Three months ended September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

     Recreation

 

 

40

 

 

$

587

 

 

$

505

 

     Medallion

 

 

1

 

 

 

758

 

 

 

758

 

Nine months ended September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

     Recreation

 

 

276

 

 

$

4,109

 

 

$

2,619

 

     Medallion

 

 

10

 

 

 

4,041

 

 

 

4,041

 

 
Summary of Activities of the Loan Collateral Process of Foreclosure Related to Recreation and Medallion Loans

The following tables show the activity of the loan collateral in process of foreclosure, which relate only to the recreation and medallion loans, for the three and nine months ended September 30, 2020 and 2019.

 

Three Months Ended September 30, 2020

(Dollars in thousands)

 

Recreation

 

 

Medallion

 

 

Total

 

Loan collateral in process of foreclosure – June 30, 2020

 

$

1,258

 

 

$

46,117

 

 

$

47,375

 

Transfer from loans, net

 

 

2,833

 

 

 

10,611

 

 

 

13,444

 

Sales

 

 

(1,697

)

 

 

—

 

 

 

(1,697

)

Cash payments received

 

 

—

 

 

 

(426

)

 

 

(426

)

Collateral valuation adjustments

 

 

(1,395

)

 

 

(8,559

)

 

 

(9,954

)

Loan collateral in process of foreclosure – September 30, 2020

 

$

999

 

 

$

47,743

 

 

$

48,742

 

 

Nine Months Ended September 30, 2020

(Dollars in thousands)

 

Recreation

 

 

Medallion

 

 

Total

 

Loan collateral in process of foreclosure – December 31, 2019

 

$

1,476

 

 

$

51,235

 

 

$

52,711

 

Transfer from loans, net

 

 

10,615

 

 

 

14,954

 

 

 

25,569

 

Sales

 

 

(5,684

)

 

 

(300

)

 

 

(5,984

)

Cash payments received

 

 

—

 

 

 

(2,318

)

 

 

(2,318

)

Collateral valuation adjustments

 

 

(5,408

)

 

 

(15,828

)

 

 

(21,236

)

Loan collateral in process of foreclosure – September 30, 2020

 

$

999

 

 

$

47,743

 

 

$

48,742

 

 

Three Months Ended September 30, 2019

(Dollars in thousands)

 

Recreation

 

 

Medallion

 

 

Total

 

Loan collateral in process of foreclosure – June 30, 2019

 

$

955

 

 

$

51,413

 

 

$

52,368

 

Transfer from loans, net

 

 

3,429

 

 

 

3,005

 

 

 

6,434

 

Sales

 

 

(1,604

)

 

 

(387

)

 

 

(1,991

)

Cash payments received

 

 

—

 

 

 

(1,556

)

 

 

(1,556

)

Collateral valuation adjustments

 

 

(1,603

)

 

 

(113

)

 

 

(1,716

)

Loan collateral in process of foreclosure – September 30, 2019

 

$

1,177

 

 

$

52,362

 

 

$

53,539

 

 

Nine Months Ended September 30, 2019

(Dollars in thousands)

 

Recreation

 

 

Medallion

 

 

Total

 

Loan collateral in process of foreclosure – December 31, 2018

 

$

1,503

 

 

$

47,992

 

 

$

49,495

 

Transfer from loans, net

 

 

10,311

 

 

 

15,573

 

 

 

25,884

 

Sales

 

 

(5,715

)

 

 

(899

)

 

 

(6,614

)

Cash payments received

 

 

—

 

 

 

(6,100

)

 

 

(6,100

)

Collateral valuation adjustments

 

 

(4,922

)

 

 

(4,204

)

 

 

(9,126

)

Loan collateral in process of foreclosure – September 30, 2019

 

$

1,177

 

 

$

52,362

 

 

$

53,539