Other income and operating expenses (Tables)

12 Months Ended

Dec. 31, 2023

Other income and operating expenses

Schedule of the financial position related to the Paycheck Protection Program (PPP) activities

(in thousands)	December 31, 2023		December 31, 2022
Assets
PPP loans	$	34,432	$	186,409
PPP loans, at fair value		165		576
PPP fee receivable		283		328
Accrued interest receivable		586		3,196
Total PPP related assets	$	35,466	$	190,509
Liabilities
PPPLF borrowings		36,036		201,011
Interest payable		340		1,176
Deferred LSP revenue		6		122
Accrued PPP related costs		146		4,016
Payable to third parties		735		277
Repair and denial reserve		1,027		4,878
Total PPP related liabilities	$	38,290	$	211,480

Schedule of the income and expenses related to the Paycheck Protection Program (PPP) activities.

		Year Ended December 31,			Financial statement account
(in thousands)		2023		2022
Income
LSP fee income	$	57	$	5,369	Servicing income
Interest income		10,350		54,518	Interest income
Repair and denial reserve		3,055		7,530	Other income - change in repair and denial reserve
Total PPP related income	$	13,462	$	67,417
Expense
Direct operating expenses		233		211	Other operating expenses - origination costs
Interest expense		413		1,699	Interest expense
Total PPP related expenses	$	646	$	1,910
Net PPP related income	$	12,816	$	65,507

Schedule of other income and operating expenses

	For the Year Ended December 31,
(in thousands)	2023		2022		2021
Other income:
Origination income	$	20,866	$	15,672	$	12,415
Change in repair and denial reserve		3,229		6,977		(10,224)
Employee retention credit consulting income		53,622		9,410		—
Other		25,410		18,659		4,665
Total other income	$	103,127	$	50,718	$	6,856
Other operating expenses:
Origination costs		7,345		12,906		24,337
Technology expense		7,430		6,164		5,154
Impairment on real estate		8,638		4,033		2,293
Rent and property tax expense		5,001		4,519		5,436
Recruiting, training and travel expense		2,782		2,618		1,273
Marketing expense		1,120		706		1,341
Bad debt expense - ERC		8,447		—		—
Other		18,828		16,707		10,069
Total other operating expenses	$	59,591	$	47,653	$	49,903