Acquired Card Receivables (Tables)

12 Months Ended

Jun. 30, 2021

Acquired Card Receivables [Abstract]

Schedule of Acquired Card Receivables

Acquired card receivables consisted of the following as of June 30, 2021 (in thousands):

Gross amount of acquired card receivables	$	148,833
Less: allowance for credit losses		(1,740	)
Total	$	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 June 30, 2021 (in thousands):

Current and less than 30 days past due	$	145,993
30 ~ 59 days past due		1,188
60 ~ 89 days past due		580
90 ~ 119 days past due		713
Over 119 days past due		359
Total	$	148,833

Summary of Change in Allowance for Credit Losses

Below is a summary of the change in allowance for credit losses (in thousands):

Balance as of June 1, 2021 (acquisition date)	$	—
Initial allowance for credit losses on purchased    card receivables with credit deterioration		2,082
Provision for expected credit losses		462
Charge-off amounts		(828	)
Recoveries collected		24
Balance as of June 30, 2021	$	1,740

Summary of Acquired Card Receivables Considered PCD Assets

Below is a summary of the acquired card receivables that were considered PCD assets as of the acquisition date (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 June 30, 2021 (in thousands):

Current and less than 30 days past due	$	28,687
30 ~ 59 days past due		240
60 ~ 89 days past due		165
90 ~ 119 days past due		301
Over 119 days past due		132
Total	$	29,525