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Purchased Receivables
 6 Months Ended
Jun. 30, 2020
Purchased Receivables [Abstract]  
Purchased Receivables Purchased Receivables
Purchased receivables are carried at their principal amount outstanding, net of a reserve for anticipated losses that have not yet been identified, and have a maturity of less than one year.  Purchased receivable balances are charged against this reserve when management believes that collection of principal is unlikely.  Management evaluates the adequacy of the reserve for purchased receivable losses based on historical loss experience by class of receivable and its assessment of current economic conditions.  As of June 30, 2020, the Company has one class of purchased receivables.  There were no purchased receivables past due at June 30, 2020 or December 31, 2019, and there were no restructured purchased receivables at June 30, 2020 or December 31, 2019.
Income on purchased receivables is accrued and recognized on the principal amount outstanding using an effective interest method except when management believes doubt exists as to the collectability of the income or principal.  Purchased receviables of $1.2 million related to one customer relationship are considered nonperforming assets as of June 30, 2020 for which the Company is not accruing and recognizing income. There were no nonperforming purchased receivables as of December 31, 2019.
The following table summarizes the components of net purchased receivables for the periods indicated:
(In Thousands)
June 30, 2020
December 31, 2019
Purchased receivables

$11,642


$24,467

Reserve for purchased receivable losses
(93
)
(94
)
Total

$11,549


$24,373



The following table sets forth information regarding changes in the purchased receivable reserve for the three and six-month periods ending June 30, 2020 and 2019, respectively: 
 
Three Months Ended June 30,
Six Months Ended June 30,
(In Thousands)
2020
2019
2020
2019
Balance, beginning of period

$99


$141


$94


$190

Charge-offs
—

—

—

—

Recoveries
—

—

—

—

     Charge-offs net of recoveries
—

—

—

—

Reserve (benefit) for purchased receivables
(6
)
(43
)
(1
)
(92
)
Balance, end of period

$93


$98


$93


$98