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Purchased Receivables
 3 Months Ended
Mar. 31, 2025
Purchased Receivables [Abstract]  
Purchased Receivables Purchased Receivables
Purchased receivables are carried at their principal amount outstanding, net of an ACL, and have a maturity of less than one year. 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. There were seven nonperforming purchased receivables with a balance of $4.0 million as of March 31, 2025 and there were four nonperforming purchased receivable with a balance of $3.8 million as of December 31, 2024 for which management was not accruing income.
The following table summarizes the components of net purchased receivables for the dates indicated:
(In Thousands)March 31, 2025December 31, 2024
Purchased receivables$99,184 $77,727 
Allowance for credit losses - purchased receivables(3,695)(3,649)
Total$95,489 $74,078 

The following table sets forth information regarding changes in the ACL on purchased receivables for the period indicated:

Three Months Ended March 31,
(In Thousands)20252024
Balance at beginning of year$3,649 $— 
   Charge-offs— — 
   Recoveries— — 
Charge-offs net of recoveries— — 
Provision for purchased receivables
46 — 
Balance at end of year$3,695 $—