Acquired Card Receivables (Tables)

3 Months Ended

Sep. 30, 2021

Acquired Card Receivables [Abstract]

Schedule of Acquired Card Receivables

Acquired card receivables consisted of the following as of the dates presented (in thousands):

	September 30,			June 30,
	2021			2021
Gross amount of acquired card receivables	$	178,055		$	148,833
Less: allowance for credit losses		(3,717	)		(1,740	)
Total	$	174,338		$	147,093

Summary of Acquired Card Receivables by Class

Below is a summary of the acquired card receivables by class (i.e., past due status) as of the dates presented (in thousands):

	September 30,		June 30,
	2021		2021
Current and less than 30 days past due	$	173,272	$	145,993
30 ~ 59 days past due		1,992		1,188
60 ~ 89 days past due		1,581		580
90 ~ 119 days past due		883		713
Over 119 days past due		327		359
Total	$	178,055	$	148,833

Summary of Change in Allowance for Credit Losses

Below is a summary of the changes in allowance for credit losses as of the dates presented (in thousands):

	September 30,			June 30,
	2021			2021
Balance, beginning	$	1,740		$	—
Initial allowance for credit losses on purchased    card receivables with credit deterioration		14			2,082
Provision for expected credit losses		4,035			462
Charge-off amounts		(2,276	)		(828	)
Recoveries collected		204			24
Balance, end of period	$	3,717		$	1,740

Summary of Acquired Card Receivables Considered PCD Assets

The acquired card receivables that were considered PCD assets were not material as of September 30, 2021. The table below shows a summary of the acquired card receivables that were considered PCD assets as of June 30, 2021 (in thousands).

Purchase price	$	3,855
Allowance for credit losses		2,082
Less: discount attributable to other factors		(79	)
Par value	$	5,858

Summary of Transferred Card Receivables by Class

Below is a summary of transferred card receivables by class (i.e., past due status) as of the periods presented (in thousands):

	September 30,		June 30,
	2021		2021
Current and less than 30 days past due	$	41,372	$	28,687
30 ~ 59 days past due		861		240
60 ~ 89 days past due		444		165
90 ~ 119 days past due		219		301
Over 119 days past due		9		132
Total	$	42,905	$	29,525