DERIVATIVES (Restated) (Tables)

6 Months Ended

Jun. 30, 2023

DERIVATIVES

Schedule of derivative and non-derivative financial instruments

The following summarizes derivative and non-derivative financial instruments as of June 30, 2023 and December 31, 2022:

	June 30, 2023
	Fair		Notional
Derivative financial instruments:	Value		Amount
Derivative assets (1)	$	1,122	$	46,035
Derivative liabilities	$	—	$	—
(1) Pullthrough rate adjusted
	June 30, 2023
	Fair		Notional
Non-derivative financial instruments:	Value		Amount
Best efforts assets	$	205	$	10,999
	December 31, 2022
	Fair		Notional
Derivative financial instruments:	Value		Amount
Derivative assets (1)	$	921	$	25,368
Derivative liabilities	$	98	$	25,028
(1) Pullthrough rate adjusted
	December 31, 2022
	Fair		Notional
Non-derivative financial instruments:	Value		Amount
Best efforts assets	$	17	$	2,658

Consumer program derivative

DERIVATIVES

Schedule of key unobservable inputs used in determining the fair value

The most significant inputs and assumptions in determining the value of the derivative are noted below ($ in thousands).

	June 30, 2023
					Weighted
	Low		High		Average
Remaining cumulative charge-offs	$	2,960	$	16,243	$	n/a
Remaining cumulative promotional prepayments	$	36,037	$	65,860	$	44,271
Average life (years)		n/a		n/a		1.3
Discount rate		5.07%		15.08%		15.08%
	June 30, 2022
					Weighted
	Low		High		Average
Remaining cumulative charge-offs	$	—	$	1,170	$	n/a
Remaining cumulative promotional prepayments	$	3,223	$	5,890	$	3,667
Average life (years)		n/a		n/a		2.4
Discount rate		2.87%		12.88%		6.00%

IRLCs

DERIVATIVES

Schedule of key unobservable inputs used in determining the fair value

The key unobservable inputs used in determining the fair value of IRLCs as of June 30, 2023 and December 31, 2022 are as follows:

	June 30, 2023		December 31, 2022
Average pullthrough rates	90.22	%	80.78	%
Average costs to originate	1.31	%	4.77	%