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Purchased Receivables (Tables)
 9 Months Ended
Sep. 30, 2025
Purchased Receivables [Abstract]  
Summary of Components of Net Purchased Receivables
The following table summarizes the components of net purchased receivables for the dates indicated:
(In Thousands)September 30, 2025December 31, 2024
Purchased receivables$109,977 $77,727 
Allowance for credit losses - purchased receivables(1,924)(3,649)
Total$108,053 $74,078 
Changes in the ACL on Purchased Receivables
The following table sets forth information regarding changes in the ACL on purchased receivables for the periods indicated:

Three Months Ended September 30,Nine Months Ended September 30,
(In Thousands)2025202420252024
Balance at beginning of period$3,432 $— $3,649 $— 
   Adjustment related to PCD collections payable to sellers1
(1,513)— (1,513)— 
   Charge-offs— — (281)— 
   Recoveries20 — 20 — 
Charge-offs net of recoveries20 — (261)— 
(Benefit) / provision for purchased receivables(15)— 49 — 
Balance at end of period$1,924 $— $1,924 $— 
1Represents a reduction in the allowance for credit losses on a purchased credit deteriorated purchased receivable acquired in 2024 in connection with the Sallyport acquisition. Collections received during the period presented above are contractually payable to the sellers under the purchase agreement if collected within one year of the acquisition of SCF. Accordingly, the decrease in the allowance was offset by the recognition of a liability to the sellers, and no benefit was recognized in the provision for credit losses.