Document and Entity Information
Document and Entity Information - USD ($) | Dec. 31, 2020 | Dec. 31, 2020 | Jun. 30, 2020 |
Registrant Name | 1st Franklin Financial Corporation | ||
Registrant CIK | 0000038723 | ||
Fiscal Year End | --12-31 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 002-27985 | ||
Entity Incorporation, State or Country Code | GA | ||
Entity Tax Identification Number | 58-0521233 | ||
Entity Address, Address Line One | 135 East Tugalo Street | ||
Entity Address, Address Line Two | Post Office Box 880 | ||
Entity Address, City or Town | Toccoa | ||
Entity Address, State or Province | GA | ||
Entity Address, Postal Zip Code | 30577 | ||
Entity Address, Address Description | Address of principal executive offices | ||
Phone Fax Number Description | Registrant's telephone number, including area code | ||
City Area Code | 706 | ||
Local Phone Number | 886-7571 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 0 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Voting Common Stock | |||
Entity Listing, Par Value Per Share | $ 100 | ||
Entity Common Stock, Shares Outstanding | 1,700 | 1,700 | |
Nonvoting Common Stock | |||
Entity Listing, Par Value Per Share | $ 0 | ||
Entity Common Stock, Shares Outstanding | 168,300 | 168,300 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash, Cash Equivalents, and Short-term Investments | |||
Cash and Due From Banks | [1] | $ 5,323,448 | $ 3,429,386 |
Short-term Investments | [1] | 53,890,255 | 48,504,879 |
Cash and Cash Equivalents | [1] | 59,213,703 | 51,934,265 |
Restricted Cash | [2] | 8,464,719 | 6,524,315 |
LOANS: | |||
Direct Cash Loans | [3] | 777,568,737 | 737,254,501 |
Real Estate Loans | [3] | 39,960,390 | 37,255,330 |
Sales Finance Contracts | [3] | 103,258,326 | 70,019,005 |
Loans and Leases Receivable, Gross | [3] | 920,787,453 | 844,528,836 |
Unearned Finance Charges | 132,703,130 | 118,748,137 | |
Unearned Insurance Premiums | 61,018,635 | 57,620,339 | |
Allowance for Credit Losses | 66,327,674 | 53,000,000 | |
Loans and Leases Receivable, Net Amount | 660,738,014 | 615,160,360 | |
Investments, Debt and Equity Securities | |||
Available for Sale, at fair value | [4] | 221,054,418 | 204,457,522 |
Held to Maturity, at amortized cost | [4] | 379,002 | 380,561 |
Marketable Debt Securities, Total | [4] | 221,433,420 | 204,838,083 |
Other Assets | |||
Property, Plant and Equipment, Net | 13,577,945 | 15,410,942 | |
Operating Lease Right of Use Assets | [5] | 33,610,067 | 31,313,793 |
Deferred Acquisition Costs | 3,625,611 | 3,472,783 | |
Due from Non-affiliated Insurance Company | 2,970,476 | 2,933,146 | |
Other Miscellaneous | 10,022,417 | 7,591,891 | |
Other Assets | 63,806,516 | 60,722,555 | |
ASSETS, Total | 1,013,656,372 | 939,179,578 | |
SENIOR DEBT: | |||
Bank Borrowings | [6] | 118,900,000 | 111,350,000 |
Senior Demand Notes, including accrued interest | [6] | 86,622,503 | 76,249,795 |
Commercial Paper | [6] | 432,273,538 | 403,491,300 |
Senior Debt, total | [6] | 637,796,041 | 591,091,095 |
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | |||
Operating Lease Liabilities | 34,163,153 | 31,655,563 | |
Other Accounts Payable and Accrued Expenses | 33,182,451 | 25,931,780 | |
Accounts Payable and Accrued Liabilities, Current | 67,345,604 | 57,587,343 | |
Subordinated Debt | [7] | 30,075,399 | 29,005,024 |
LIABILITIES, Total | 735,217,044 | 677,683,462 | |
COMMITMENTS AND CONTINGENCIES | [8] | ||
STOCKHOLDERS' EQUITY: | |||
Preferred Stock | 0 | 0 | |
Accumulated Other Comprehensive Income | 13,266,927 | 9,614,846 | |
Retained Earnings | 265,002,401 | 251,711,270 | |
Total Stockholders' Equity | 278,439,328 | 261,496,116 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,013,656,372 | 939,179,578 | |
Voting Common Stock | |||
STOCKHOLDERS' EQUITY: | |||
Common Stock | 170,000 | 170,000 | |
Nonvoting Common Stock | |||
STOCKHOLDERS' EQUITY: | |||
Common Stock | $ 0 | $ 0 | |
[1] | See Note 5. | ||
[2] | See Note 1. | ||
[3] | See Note 2. | ||
[4] | See Note 3. | ||
[5] | See Note 8. | ||
[6] | See Note 6. | ||
[7] | See Note 7. | ||
[8] | See note 9. |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Parenthetical - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 42,477,600 | $ 38,180,121 |
Preferred Stock, Par or Stated Value Per Share | $ 100 | $ 100 |
Preferred Stock, Shares Authorized | 6,000 | 6,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Voting Common Stock | ||
Common Stock, Par or Stated Value Per Share | $ 100 | $ 100 |
Common Stock, Shares Authorized | 2,000 | 2,000 |
Common Stock, Shares, Outstanding | 1,700 | 1,700 |
Nonvoting Common Stock | ||
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Common Stock, Shares Authorized | 198,000 | 198,000 |
Common Stock, Shares, Outstanding | 168,300 | 168,300 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
INTEREST INCOME: | ||||
Finance Charges | $ 213,087,060 | $ 200,577,584 | $ 172,804,055 | |
Net Investment Income | 6,882,483 | 7,353,236 | 7,134,054 | |
Total Interest Income | 219,969,543 | 207,930,820 | 179,938,109 | |
INTEREST EXPENSE: | ||||
Senior Debt | 20,281,290 | 18,663,910 | 12,993,358 | |
Subordinated Debt | 922,083 | 849,174 | 888,482 | |
Total interest expense | 21,203,373 | 19,513,084 | 13,881,840 | |
NET INTEREST INCOME | 198,766,170 | 188,417,736 | 166,056,269 | |
Provision for loan losses | [1] | 56,689,484 | 59,695,888 | 39,207,197 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 142,076,686 | 128,721,848 | 126,849,072 | |
NET INSURANCE INCOME: | ||||
Premiums | 49,780,940 | 49,355,186 | 44,387,227 | |
Insurance Claims and Expense | (15,489,876) | (13,451,858) | (11,934,887) | |
Total Insurance Income | 34,291,064 | 35,903,328 | 32,452,340 | |
OTHER REVENUE | 5,419,562 | 6,046,716 | 5,732,236 | |
OPERATING EXPENSES: | ||||
Personnel Expense | 99,684,473 | 93,820,162 | 91,585,822 | |
Occupancy Expense | 17,568,423 | 18,167,252 | 17,250,698 | |
Other Expense | 45,257,347 | 41,556,893 | 35,644,204 | |
Total Operating Expenses | 162,510,243 | 153,544,307 | 144,480,724 | |
INCOME BEFORE INCOME TAXES | 19,277,069 | 17,127,585 | 20,552,924 | |
Provision for Income Taxes | [2] | 3,386,807 | 3,779,212 | 3,211,993 |
Net Income (Loss) | $ 15,890,262 | $ 13,348,373 | $ 17,340,931 | |
BASIC EARNINGS PER SHARE | $ 93.47 | $ 78.52 | $ 102.01 | |
[1] | See Note 2. | |||
[2] | See Note 12. |
CONSOLIDATED STATEMENTS OF IN_2
CONSOLIDATED STATEMENTS OF INCOME - Parenthetical - shares | Dec. 31, 2020 | Dec. 31, 2019 |
Voting Common Stock | ||
Common Stock, Shares, Outstanding | 1,700 | 1,700 |
Nonvoting Common Stock | ||
Common Stock, Shares, Outstanding | 168,300 | 168,300 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | |||
Net Income (Loss) | $ 15,890,262 | $ 13,348,373 | $ 17,340,931 |
Other Comprehensive Income / (Loss): | |||
Unrealized gains (losses) | 4,658,116 | 12,972,947 | (6,903,069) |
Income tax (provision) benefit | (989,588) | (2,696,204) | 1,415,964 |
Net unrealized gain (losses) | 3,668,528 | 10,276,743 | (5,487,105) |
Reclassification of (gains)/losses to Net Income (Loss) | 16,447 | 269,918 | 293,029 |
Other Comprehensive Income (Loss), Net of Tax | 3,652,081 | 10,006,825 | (5,780,134) |
Total Comprehensive Income | $ 19,542,343 | $ 23,355,198 | $ 11,560,797 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) | Common Stock | Retained Earnings | AOCI Attributable to Parent | Total | |
Equity Balance, Value at Dec. 31, 2017 | $ 170,000 | $ 227,329,870 | $ 4,596,132 | $ 232,096,002 | |
Adjustment Resulting from the Adoption of Accounting Standard | [1] | 0 | (792,023) | 792,023 | |
Comprehensive Income (Loss) | |||||
Net Income (Loss) | 0 | 17,340,931 | 0 | 17,340,931 | |
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | (5,780,134) | (5,780,134) | |
Total Comprehensive Income (Loss) | 0 | 0 | 0 | 11,560,797 | |
Cash Distributions Paid | $ 0 | (2,796,641) | 0 | (2,796,641) | |
Equity Balance, Shares at Dec. 31, 2017 | 170,000 | ||||
Equity Balance, Value at Dec. 31, 2018 | $ 170,000 | 241,082,137 | (391,979) | 240,860,158 | |
Comprehensive Income (Loss) | |||||
Net Income (Loss) | 0 | 13,348,373 | 0 | 13,348,373 | |
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 10,006,825 | 10,006,825 | |
Total Comprehensive Income (Loss) | 0 | 0 | 0 | 23,355,198 | |
Cash Distributions Paid | $ 0 | (2,719,240) | 0 | (2,719,240) | |
Equity Balance, Shares at Dec. 31, 2018 | 170,000 | ||||
Equity Balance, Value at Dec. 31, 2019 | $ 170,000 | 251,711,270 | 9,614,846 | 261,496,116 | |
Comprehensive Income (Loss) | |||||
Net Income (Loss) | 0 | 15,890,262 | 0 | 15,890,262 | |
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 3,652,081 | 3,652,081 | |
Total Comprehensive Income (Loss) | 0 | 0 | 0 | 19,542,343 | |
Cumulative Change in Accounting Principal | [1] | 0 | (2,158,161) | 0 | (2,158,161) |
Cash Distributions Paid | $ 0 | (440,970) | 0 | (440,970) | |
Equity Balance, Shares at Dec. 31, 2019 | 170,000 | ||||
Equity Balance, Value at Dec. 31, 2020 | $ 170,000 | $ 265,002,401 | $ 13,266,927 | $ 278,439,328 | |
[1] | See Note 1. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net Income (Loss) | $ 15,890,262 | $ 13,348,373 | $ 17,340,931 |
Adjustments to reconcile Net Income (Loss) to net cash provided by operating activities: | |||
Provision for loan losses | 56,689,484 | 59,695,888 | 39,207,197 |
Depreciation and amortization | 4,837,876 | 4,906,380 | 4,631,106 |
Provision for deferred (prepaid) taxes | 156,075 | 444,780 | 522,773 |
Equipment and amortization on securities | (214,898) | (425,618) | (321,369) |
Decrease (increase) in miscellaneous other assets | (2,409,367) | (1,758,206) | 333,470 |
Decrease in other liablities | 6,109,380 | (2,051,933) | (96,798) |
Net Cash Provided by (Used in) Operating Activities | 81,058,812 | 74,159,664 | 61,617,310 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Loans originated or purchased | (516,978,375) | (540,426,634) | (510,440,178) |
Loan payments | 412,553,076 | 407,678,188 | 374,784,512 |
Purchases of securities, available for sale | (19,013,337) | (3,265,479) | (32,488,192) |
Sales of securities, available for sale | 0 | 14,873,211 | 12,621,827 |
Redemptions of securities, available for sale | 7,220,000 | 9,145,000 | 5,350,000 |
Redemptions of securities, held to maturity | 0 | 400,000 | 4,155,000 |
Capital expenditures | (3,022,147) | (5,047,495) | (4,489,551) |
Proceeds from sale of equipment | 67,462 | 132,478 | 94,020 |
Net Cash Provided by (Used in) Investing Activities | (119,173,321) | (116,510,731) | (150,412,562) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net increase (decrease) in Senior Demand Notes | 10,372,708 | 2,910,714 | 1,520,425 |
Advances on credit line | 193,849,330 | 189,428,300 | 79,445,656 |
Payments on credit line | (186,299,330) | (131,258,300) | (26,265,656) |
Commercial paper issued | 139,155,810 | 76,624,561 | 63,064,642 |
Commercial paper redeemed | (110,373,572) | (46,936,830) | (44,173,634) |
Subordinated debt issued | 6,916,788 | 6,677,992 | 5,703,527 |
Subordinated debt redeemed | (5,846,413) | (7,943,418) | (8,920,980) |
Dividends / distributions paid | (440,970) | (2,719,240) | (2,796,641) |
Net Cash Provided by (Used in) Financing Activities | 47,334,351 | 86,783,779 | 67,577,339 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 9,219,842 | 44,432,712 | (21,217,913) |
CASH AND CASH EQUIVALENTS, beginning | 58,458,580 | 14,025,868 | 35,243,781 |
CASH AND CASH EQUIVALENTS, ending | 67,678,422 | 58,458,580 | 14,025,868 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Interest Paid | 21,119,661 | 19,156,155 | 13,626,034 |
Income Taxes Paid | 3,178,625 | 3,346,023 | 2,235,000 |
Non-cash Exchange of Investment Securities | 0 | 0 | 341,692 |
Lease Assets and Associated Liabilities | $ 0 | $ 29,781,213 | $ 0 |
1. SUMMARY OF SIGNIFICANT ACCOU
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business: st Basis of Consolidation: Fair Values of Financial Instruments: Fair Value Measurements Use of Estimates: Income Recognition: Depreciation and Amortization: Restricted Cash: Year Ended December 31, (In thousands) 2020 2019 2018 Cash and cash equivalents $ 59,214 $ 51,934 $ 10,280 Restricted cash 8,465 6,525 3,746 Total cash, cash equivalents and restricted cash $ 67,679 $ 58,459 $ 14,026 Impairment of Long-Lived Assets: Income Taxes: Collateral Held for Resale: Marketable Debt Securities: Earnings per Share Information Revenue from Contracts with Customers: (1) (2) (3) Other revenues, as a whole, are immaterial to total revenues. During the three years ended December 31, 2020, 2019 and 2018, the Company recognized interest related income of $213.1 million, $200.6 million and $172.8 million, respectively, insurance related revenue of $49.8 million, $49.4 million and $44.4 million, respectively, and other revenues of $5.4 million, $6.0 million and $5.7 million, respectively. Recent Accounting Pronouncements: January 1, 2020 Assets As Reported Under ASC 326 Pre-ASC 326 Adoption Impact ofASC 326 Adoption (in 000Â’s) (in 000Â’s) (in 000Â’s) Loans: $ 88,442 $ -- $ 88,442 85,252 - 85,252 563,560 - 563,560 37,255 - 37,255 70,019 - 70,019 - 844,528 (844,528) 118,748 118,748 - 57,620 57,620 - 55,158 53,000 2,158 $ 613,002 $ 615,160 $ (2,158) Equity: Retained Earnings $ 249,553 $ 251,711 $ (2,158) |
2. LOANS
2. LOANS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
2. LOANS | 2. LOANS Contractual Maturities of Loans: Direct Real Sales Due In Cash Estate Finance Calendar Year Loans Loans Contracts 2021 53.30% 14.41% 33.73% 2022 29.89 10.15 26.96 2023 11.47 10.42 20.80 2024 4.14 9.99 13.44 2025 1.08 9.50 4.82 2026 & beyond .12 45.53 .25 100.00% 100.00% 100.00% Allowance for Credit Losses: Loan Class December 31, 2020 December 31, 2019 Live Check Consumer Loans $ 3,964,176 $ 4,689,601 Premier Consumer Loans 2,069,315 2,587,373 Other Consumer Loans 20,181,097 26,509,178 Real Estate Loans 1,414,443 1,259,471 Sales Finance Contracts 3,576,629 2,301,970 $ 31,205,660 $ 37,347,593 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Live Check Loans $ 1,998,538 $ 1,629,874 $ 2,122,317 $ 5,750,729 Premier Loans 895,722 653,370 1,038,398 2,587,490 Other Consumer Loans 14,419,790 8,496,082 14,933,605 37,849,477 Real Estate Loans 502,733 223,007 1,437,966 2,163,706 Sales Finance Contracts 2,251,562 1,340,620 2,260,685 5,852,867 $ 20,068,345 $ 12,342,953 $ 21,792,971 $ 54,204,269 December 31, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Live Check Loans $ 2,089,313 $ 1,576,158 $ 3,079,737 $ 6,745,208 Premier Loans 1,174,364 791,218 1,216,080 3,181,662 Other Consumer Loans 16,309,594 9,251,491 20,675,879 46,236,964 Real Estate Loans 900,373 339,977 1,592,069 2,832,419 Sales Finance Contracts 1,691,694 754,381 1,755,318 4,201,393 $ 22,165,338 $ 12,713,225 $ 28,319,083 $ 63,197,646 Payment Performance – Net Balance by Origination Year 2020 (1) 2019 2018 2017 2016 Prior Total Net Balance (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) Live Checks: $ 91,968 $ 10,476 $ 1,700 $ 182 $ 1 $ - $ 104,327 3,231 654 68 11 - - 3,964 $ 95,199 $ 11,130 1,798 $ 193 $ 1 $ - $ 108,291 Premier Loans: $ 59,688 $ 23,398 $ 6,625 $ 916 $ - $ - $ 90,627 911 821 316 20 - - 2,068 $ 60,599 $ 24,219 6,941 $ 936 $ - $ - $ 92,695 Other Consumer Loans: $ 431,482 $ 96,393 $ 21,123 $ 3,559 $ 559 $ 201 $ 553,317 10,867 7,331 1,681 240 49 13 20,181 $ 442,349 $ 103,724 22,804 $ 3,799 $ 608 $ 214 $ 573,498 Real Estate Loans: $ 10,713 $ 9,552 $ 6,944 $ 3,896 $ 2,039 $ 2,739 $ 35,883 257 415 315 118 90 219 1,414 $ 10,970 $ 9,967 7,259 $ 4,014 $ 2,129 $ 2,958 $ 37,297 Sales Finance Contracts: $ 70,603 $ 21,278 $ 5,929 $ 863 $ 90 $ 29 $ 98,792 2,270 892 329 77 4 4 3,576 $ 72,873 $ 22,170 6,258 $ 940 $ 94 $ 33 $ 102,368 (1) st st 2020 Live Checks Premier Loans OtherConsumer Loans Real EstateLoans Sales FinanceContracts Total (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) Allowance for Credit Losses: $ - $ - $ - $ - $ - $ 53,000 - - - - - 2,158 $ 8,177 $ 4,121 $ 39,180 $ 169 $ 3,511 $ 55,158 11,544 5,797 33,760 140 5,449 56,690 (11,735) (4,592) (42,696) (49) (4,275) (63,347) 2,779 512 13,589 7 940 17,827 $ 10,765 $ 5,838 $ 43,833 $ 267 $ 5,625 $ 66,328 2019 2018 (in 000’s) (in 000’s) Allowance for Loan Losses $ 43,000,000 $ 42,500,000 59,695,588 39,207,197 (66,682,422) (53,570,647) 16,986,534 14,863,450 $ 53,000,000 $ 43,000,000 Finance Receivables: $ 840,458,743 $ 729,783,655 Nearly our entire loan portfolio consists of small homogeneous consumer loans (of the product types set forth in the table below). December 31, 2020 Principal Balance % Portfolio Net Charge Offs % Net Charge Offs Consumer Loans $ 775,713,298 84.5 % $ 42,142,861 92.6 % Real Estate Loans 39,293,179 4.3 41,751 .1 Sales Finance Contracts 102,435,221 11.2 3,335,359 7.3 $ 917,441,698 100.0 % $ 45,519,971 100.0 % December 31, 2019 Principal Balance % Portfolio Net Charge Offs % Net Charge Offs Consumer Loans $ 734,556,902 87.4 % $ 47,227,395 95.0 % Real Estate Loans 36,595,931 4.4 40,279 .1 Sales Finance Contracts 69,305,910 8.2 2,428,214 4.9 $ 840,458,743 100.0 % $ 49,695,888 100.0 % Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Live Check Consumer Loans 2,127 $ 3,688,912 $ 3,588,117 Premier Consumer Loans 485 3,185,328 3,090,506 Other Consumer Loans 11,463 41,709,966 39,405,511 Real Estate Loans 39 465,759 453,611 Sales Finance Contracts 846 4,379,561 4,215,137 14,960 $ 53,429,526 $ 50,752,882 TDRs that subsequently defaulted during the year ended December 31, 2020 are listed below. Number of Loans Pre-Modification Recorded Investment Live Check Consumer Loans 787 $ 1,248,879 Premier Consumer Loans 92 480,080 Other Consumer Loans 2,735 5,523,962 Real Estate Loans 4 27,476 Sales Finance Contracts 183 475,188 3,801 $ 7,755,585 The following table presents a summary of loans that were restructured during the year ended December 31, 2019. Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Consumer Loans 18,680 $ 55,198,024 $ 52,873,724 Real Estate Loans 50 698,205 695,693 Sales Finance Contracts 870 3,226,704 3,086,441 19,600 $ 59,122,933 $ 56,655,858 TDRs that subsequently defaulted during the year ended December 31, 2019 are listed below. Number of Loans Pre-Modification Recorded Investment Consumer Loans 5,854 $ 10,583,099 Real Estate Loans - - Sales Finance Contracts 222 546,101 6,076 $ 11,129,200 The following table presents a summary of loans that were restructured during the year ended December 31, 2018. Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Consumer Loans 16,473 $ 42,571,410 $ 41,169,632 Real Estate Loans 51 468,208 458,496 Sales Finance Contracts 685 1,742,532 1,671,991 17,209 $ 44,782,150 $ 43,300,119 TDRs that subsequently defaulted during the year ended December 31, 2018 are listed below. Number of Loans Pre-Modification Recorded Investment Consumer Loans 4,625 $ 7,364,675 Real Estate Loans 1 4,233 Sales Finance Contracts 144 304,882 4,770 $ 7,673,790 The level of TDRs, including those which have experienced a subsequent default, is considered in the determination of an appropriate level of allowance for credit losses. |
3. INVESTMENT SECURITIES
3. INVESTMENT SECURITIES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
3. INVESTMENT SECURITIES | 3. INVESTMENT SECURITIES Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2020 Obligations of states and $ 204,199,851 $ 16,464,476 $ (1,022) $ 220,663,305 Corporate securities 130,316 260,797 -- 391,113 $ 204,330,167 $ 16,725,273 $ (1,022) $ 221,054,418 December 31, 2019 Obligations of states and $ 192,240,250 $ 11,796,039 $ (24,092) $ 204,012,197 Corporate securities 130,316 315,009 -- 445,325 $ 192,370,566 $ 12,111,048 $ (24,092) $ 204,457,522 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2020 Obligations of states and $ 379,002 $ 1,848 $ - $ 380,850 December 31, 2019 Obligations of states and $ 380,561 $ 8,959 $ - $ 389,520 Available for Sale Held to Maturity Estimated Estimated Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ 971,354 $ 1,234,597 $ -- $ -- Due after one year through five years 5,668,206 5,781,356 379,002 380,850 Due after five years through ten years 22,551,147 23,863,176 -- -- Due after ten years 175,139,460 190,175,289 -- -- $ 204,330,167 $ 221,054,418 $ 379,002 $ 380,850 Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for Sale: Obligations of states and political subdivisions $ 920,927 $ (1,022) $ - $ - $ 920,927 $ (1,022) Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for Sale: Obligations of states and political subdivisions $ 1,206,656 $ (18,941) $ 986,642 $ (5,151) $ 2,193,298 $ (24,092) |
4. FAIR VALUE
4. FAIR VALUE | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
4. FAIR VALUE | 4. FAIR VALUE · · · Fair Value Measurements at Reporting Date Using Fair Value Measurements at Reporting Date Using Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs Description 2020 (Level 1) (Level 2) (Level 3) Corporate securities $ 391,113 $ 391,113 $ -- $ -- Obligations of states and political subdivisions 220,663,305 -- 220,663,305 -- Available-for-sale investment securities $ 221,054,418 $ 391,113 $ 220,663,305 $ -- Fair Value Measurements at Reporting Date Using Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs Description 2019 (Level 1) (Level 2) (Level 3) Corporate securities $ 445,325 $ 445,325 $ -- $ -- Obligations of states and political subdivisions 204,012,195 -- 204,012,195 -- Available-for-sale investment securities $ 204,457,520 $ 445,325 $ 204,012,195 $ -- |
5. INSURANCE SUBSIDIARY RESTRIC
5. INSURANCE SUBSIDIARY RESTRICTIONS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
5. INSURANCE SUBSIDIARY RESTRICTIONS | 5. INSURANCE SUBSIDIARY RESTRICTIONS |
6. SENIOR DEBT
6. SENIOR DEBT | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
6. SENIOR DEBT | 6. SENIOR DEBT Weighted Average Maximum Average Weighted Interest Amount Amount Average Year Ended Rate at End Outstanding Outstanding Interest Rate December 31 of Year During Year During Year During Year (In thousands, except % data) 2020: Bank Borrowings 3.50% $ 123,256 $ 104,206 4.38% Senior Demand Notes 1.90 87,413 82,509 1.90 Commercial Paper 3.45 431,314 407,156 3.48 3.25 636,784 593,871 3.42 2019: Bank Borrowings 4.45% $ 111,350 $ 73,307 5.60% Senior Demand Notes 1.89 76,204 73,498 1.87 Commercial Paper 3.47 402,651 389,597 3.38 3.45 590,205 536,402 3.48 2018: Bank Borrowings 5.74% $ 53,180 $ 6,999 5.21% Senior Demand Notes 1.64 77,731 74,267 1.52 Commercial Paper 3.13 373,167 364,362 3.01 3.19 499,666 445,628 2.92 |
7. SUBORDINATED DEBT
7. SUBORDINATED DEBT | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
7. SUBORDINATED DEBT | 7. SUBORDINATED DEBT Weighted Average Interest Rate atEnd of Year Weighted Average Interest RateDuring Year 2020 2019 2018 2020 2019 2018 3.10% 2.96% 2.70% 3.01% 2.81% 2.66% Maturity and redemption information relating to the Company's subordinated debt at December 31, 2020 is as follows: Amount Maturing or Redeemable at Option of Holder Based on Maturity Based on Interest Date Adjustment Period 2021 $ 6,068,119 $ 16,410,974 2022 5,219,163 7,405,587 2023 9,010,098 2,940,375 2024 9,778,019 3,318,463 $ 30,075,399 $ 30,075,399 |
8. LEASES
8. LEASES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
8. LEASES | 8. LEASES Twelve Months Ended Dec. 31, 2020 Operating lease expense $ 7,226,361 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 7,055,046 Weighted-average remaining lease term – operating leases (in years) 7.07 Weighted-average discount rate – operating leases 4.92% Lease Maturity Schedule as of December 31, 2019: Amount 2021 6,982,155 2022 6,444,448 2023 5,577,917 2024 4,846,460 2025 4,489,926 2026 and beyond 11,855,364 Total 40,196,270 Less interest (6,033,117) Present Value of Lease Liability $ 34,163,153 Twelve Months Ended Dec. 31, 2019 Operating lease expense $ 6,721,970 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 6,564,569 Weighted-average remaining lease term – operating leases (in years) 6.86 Weighted-average discount rate – operating leases 5.67 % Lease Maturity Schedule as of December 31, 2019: Amount 2020 6,823,468 2021 6,152,783 2022 5,556,754 2023 4,737,533 2024 4,008,787 2025 and beyond 10,848,375 Total 38,127,700 Less interest (6,472,138) Present Value of Lease Liability $ 31,655,562 |
9. COMMITMENTS AND CONTINGENCIE
9. COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
9. COMMITMENTS AND CONTINGENCIES | 9. COMMITMENTS AND CONTINGENCIES |
10. EMPLOYEE BENEFIT PLANS
10. EMPLOYEE BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
10. EMPLOYEE BENEFIT PLANS | 10. EMPLOYEE BENEFIT PLANS |
11. RELATED PARTY TRANSACTIONS
11. RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
11. RELATED PARTY TRANSACTIONS | 11. RELATED PARTY TRANSACTIONS |
12. INCOME TAXES
12. INCOME TAXES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
12. INCOME TAXES | 12. INCOME TAXES The provision for income taxes for the years ended December 31, 2020, 2019 and 2018 is made up of the following components: 2020 2019 2018 Current – Federal $ 3,024,953 $ 3,207,966 $ 2,689,220 Current – State 205,779 126,466 -- 3,230,732 3,334,432 2,689,220 Deferred – Federal 156,075 444,780 522,773 $ 3,386,807 $ 3,779,212 $ 3,211,993 Deferred Tax Assets (Liabilities) 2020 2019 Insurance Commissions $ (4,459,805) $ (4,284,082) Unearned Premium Reserves 1,937,163 1,848,978 Deferred Acquisition Cost Amortization (1,336,728) (1,221,520) SPAE Capitalization 27,107 32,616 STAT & Tax Reserve 551,919 502,808 GAAP/STAT Premium Tax (205,280) (201,996) Unrealized Loss (Gain) on (3,457,325) (2,472,109) Other (53,948) (60,301) $ (6,996,897) $ (5,855,606) 2020 2019 2018 Statutory Federal income tax rate 21.0% 21.0% 21.0% Tax Reform Act Impact - - - Tax effect of S corporation status 1.0 6.7 (.4) Tax exempt income (5.5) (6.4) (5.1) Miscellaneous 1.1 .8 .1 17.6% 22.1% 15.6% |
13. SEGMENT FINANCIAL INFORMATI
13. SEGMENT FINANCIAL INFORMATION | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
13. SEGMENT FINANCIAL INFORMATION: | 13. SEGMENT FINANCIAL INFORMATION Below is a performance recap of each of the Company's divisions for the year ended December 31, 2020 followed by a reconciliation to consolidated Company data. Year 2020 Division I Division II Division III Division IV Division V Division VII Division VIII Division IX Total (In Millions) Revenues: Finance Charges Earned $ 33.4 $ 28.6 $ 30.3 $ 34.0 $ 21.5 $ 21.5 $ 17.2 $ 26.5 $ 213.0 Insurance Income 4.8 6.7 8.3 4.2 3.8 3.2 3.8 5.3 40.1 Other .1 .8 1.0 1.1 .6 .5 .4 .7 5.2 38.3 36.1 39.6 39.3 25.9 25.2 21.4 32.5 258.3 Expenses: Interest Cost 3.0 3.1 3.2 3.6 2.0 2.2 1.7 2.8 21.6 Provision for Loan Losses 8.5 4.7 6.0 6.6 4.4 5.9 4.5 4.9 45.5 Depreciation .4 .4 .3 .5 .5 .5 .3 .5 3.4 Other 13.5 12.8 12.9 14.3 10.4 10.2 10.6 13.1 97.8 25.4 21.0 22.4 25.0 17.3 18.8 17.1 21.3 168.3 Division Profit $ 12.9 $ 15.1 $ 17.2 $ 14.3 $ 8.6 $ 6.4 $ 4.3 $ 11.2 $ 90.0 Division Assets: Net Receivables $ 102.6 $ 106.2 $ 111.3 $ 128.9 $ 71.3 $ 76.5 $ 64.7 $ 97.3 $ 758.8 Cash .5 .5 .7 .6 .5 .3 .4 .4 3.9 Net Fixed Assets .7 .8 .9 1.4 1.6 1.2 .9 .9 8.4 Other Assets 3.2 4.6 4.3 5.7 3.7 4.3 3.3 4.5 33.6 Total Division Assets $ 107.0 $ 112.1 $ 117.2 $ 136.6 $ 77.1 $ 82.3 $ 69.3 $ 103.1 $ 804.7 RECONCILIATION: 2019 (In Millions) Revenues: Total revenues from reportable divisions $ 258.3 Corporate finance charges earned not allocated to divisions .1 Corporate investment income earned not allocated to divisions 6.9 Timing difference of insurance income allocation to divisions .9.7 Other revenues not allocated to divisions $ 2 Consolidated Revenues (1) $ 275.2 Net Income: Total profit or loss for reportable divisions $ 90.0 Corporate earnings not allocated 16.8 Corporate expenses not allocated (87.5) Consolidated Income Before Income Taxes $ 19.3 Assets: Total assets for reportable divisions $ 804.7 Loans held at corporate level 2.2 Unearned insurance at corporate level (33.8) Allowance for loan losses at corporate level (66.3) Cash and cash equivalents held at corporate level 63.8 Investment securities at corporate level 221.4 Fixed assets at corporate level 5.1 Other assets at corporate level 16.6 Consolidated Assets $ 1,013.7 Note 1: Below is a performance recap of each of the Company's divisions for the year ended December 31, 2019 followed by a reconciliation to consolidated Company data. Year 2019 Division I Division II Division III Division IV Division V Division VII Division VIII Division IX Total (In Millions) Revenues: Finance Charges Earned $ 32.3 $ 29.0 $ 26.9 $ 32.4 $ 19.0 $ 18.8 $ 15.9 $ 26.1 $ 200.4 Insurance Income 5.3 6.8 8.1 4.4 3.5 3.2 3.7 6.7 41.7 Other .1 1.1 1.0 1.1 .7 .5 .5 1.0 6.0 37.7 36.9 36.0 37.9 23.2 22.5 20.1 33.8 248.1 Expenses: Interest Cost 2.8 3.0 2.8 3.3 1.8 1.8 1.5 2.7 19.7 Provision for Loan Losses 8.4 6.1 5.9 8.2 5.0 5.9 4.1 6.1 49.7 Depreciation .5 .4 .3 .5 .4 .4 .4 .5 3.4 Other 13.3 12.8 12.5 14.2 10.3 9.8 10.1 13.1 96.1 25.0 22.3 21.5 26.2 17.5 17.9 16.1 22.4 168.9 Division Profit $ 12.7 $ 14.6 $ 14.5 $ 11.7 $ 5.7 $ 4.6 $ 4.0 $ 11.4 $ 79.2 Division Assets: Net Receivables $ 100.3 $ 103.1 $ 99.4 $ 116.4 $ 63.2 $ 67.8 $ 54.8 $ 92.4 $ 697.4 Cash .2 .3 .4 .4 .3 .2 .2 .3 2.3 Net Fixed Assets 1.0 1.0 .7 1.4 1.6 1.4 .9 1.1 9.1 Other Assets 3.5 4.8 3.4 5.4 3.2 3.7 3.2 4.4 31.6 Total Division Assets $ 105.0 $ 109.2 $ 103.9 $ 123.6 $ 68.3 $ 73.1 $ 59.1 $ 98.2 $ 740.4 RECONCILIATION: 2019 (In Millions) Revenues: Total revenues from reportable divisions $ 248.1 Corporate finance charges earned not allocated to divisions .1 Corporate investment income earned not allocated to divisions 7.4 Timing difference of insurance income allocation to divisions 7.7 Other revenues not allocated to divisions .0 Consolidated Revenues (1) $ 263.3 Net Income: Total profit or loss for reportable divisions $ 79.2 Corporate earnings not allocated 15.2 Corporate expenses not allocated (77.3) Consolidated Income Before Income Taxes $ 17.1 Assets: Total assets for reportable divisions $ 740.4 Loans held at corporate level 2.4 Unearned insurance at corporate level (31.6) Allowance for loan losses at corporate level (53.0) Cash and cash equivalents held at corporate level 56.1 Investment securities at corporate level 204.9 Fixed assets at corporate level 6.3 Other assets at corporate level 13.7 Consolidated Assets $ 939.2 Note 1: Below is a performance recap of each of the Company's divisions for the year ended December 31, 2018 followed by a reconciliation to consolidated Company data. Year 2018 Division I Division II Division III Division IV Division V Division VII Division VIII Division IX Total (In Millions) Revenues: Finance Charges Earned $ 26.2 $ 26.3 $ 24.5 $ 29.7 $ 17.0 $ 13.1 $ 13.0 $ 22.9 $ 172.7 Insurance Income 4.4 6.0 7.6 4.2 3.2 2.5 3.0 6.2 37.1 Other .1 1.0 1.1 1.0 .6 .4 .5 1.0 5.7 30.7 33.3 33.2 34.9 20.8 16.0 16.5 30.1 215.5 Expenses: Interest Cost 1.9 2.2 2.1 2.5 1.3 1.1 1.0 1.9 14.0 Provision for Loan Losses 5.4 4.9 5.4 7.1 3.8 3.8 3.1 5.1 38.6 Depreciation .5 .5 .3 .5 .3 .3 .3 .5 3.2 Other 12.6 12.2 12.0 13.2 9.5 8.2 8.8 12.0 88.5 20.4 19.8 19.8 23.3 14.9 13.4 13.2 19.5 144.3 Division Profit $ 10.3 $ 13.5 $ 13.4 $ 11.6 $ 5.9 $ 2.6 $ 3.3 $ 10.6 $ 71.2 Division Assets: Net Receivables $ 85.0 $ 95.3 $ 88.2 $ 105.4 $ 55.0 $ 53.8 $ 44.4 $ 82.9 $ 610.0 Cash .3 .4 .4 .4 .3 .2 .3 .3 2.6 Net Fixed Assets 1.0 1.1 .7 1.4 .9 1.0 .7 1.1 7.9 Other Assets - - .1 .2 .1 - .1 .1 .6 Total Division Assets $ 86.3 $ 96.8 $ 89.4 $ 107.4 $ 56.3 $ 55.0 $ 45.5 $ 84.4 $ 621.1 RECONCILIATION: 2018 (In Millions) Revenues: Total revenues from reportable divisions $ 215.5 Corporate finance charges earned not allocated to divisions .1 Corporate investment income earned not allocated to divisions 7.2 Timing difference of insurance income allocation to divisions 7.2 Other revenues not allocated to divisions .1 Consolidated Revenues (1) $ 230.1 Net Income: Total profit or loss for reportable divisions $ 71.2 Corporate earnings not allocated 14.5 Corporate expenses not allocated (65.2) Consolidated Income Before Income Taxes $ 20.5 Assets: Total assets for reportable divisions $ 621.1 Loans held at corporate level 2.4 Unearned insurance at corporate level (27.3) Allowance for loan losses at corporate level (43.0) Cash and cash equivalents held at corporate level 11.4 Investment securities at corporate level 213.0 Fixed assets at corporate level 7.5 Other assets at corporate level 11.3 Consolidated Assets $ 796.4 Note 1: |
1. SUMMARY OF SIGNIFICANT ACC_2
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Business (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Business: | Business: st |
1. SUMMARY OF SIGNIFICANT ACC_3
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Consolidation (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Basis of Consolidation: | Basis of Consolidation: |
1. SUMMARY OF SIGNIFICANT ACC_4
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Values of Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Fair Values of Financial Instruments: | Fair Values of Financial Instruments: Fair Value Measurements |
1. SUMMARY OF SIGNIFICANT ACC_5
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Use of Estimates: | Use of Estimates: |
1. SUMMARY OF SIGNIFICANT ACC_6
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Recognition (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Income Recognition: | Income Recognition: |
1. SUMMARY OF SIGNIFICANT ACC_7
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Depreciation and Amortization (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Depreciation and Amortization: | Depreciation and Amortization: |
1. SUMMARY OF SIGNIFICANT ACC_8
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Restricted Cash (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Restricted Cash: | Restricted Cash: Year Ended December 31, (In thousands) 2020 2019 2018 Cash and cash equivalents $ 59,214 $ 51,934 $ 10,280 Restricted cash 8,465 6,525 3,746 Total cash, cash equivalents and restricted cash $ 67,679 $ 58,459 $ 14,026 |
1. SUMMARY OF SIGNIFICANT ACC_9
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Impairment of Long-Lived Assets (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Impairment of Long-Lived Assets: | Impairment of Long-Lived Assets: |
1. SUMMARY OF SIGNIFICANT AC_10
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Income Taxes: | Income Taxes: |
1. SUMMARY OF SIGNIFICANT AC_11
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Collateral Held for Resale (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Collateral Held for Resale: | Collateral Held for Resale: |
1. SUMMARY OF SIGNIFICANT AC_12
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Marketable Debt Securities (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Marketable Debt Securities: | Marketable Debt Securities: |
1. SUMMARY OF SIGNIFICANT AC_13
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Earnings per Share Information (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Earnings per Share Information: | Earnings per Share Information |
1. SUMMARY OF SIGNIFICANT AC_14
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue from Contracts with Customers (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers: (1) (2) (3) Other revenues, as a whole, are immaterial to total revenues. During the three years ended December 31, 2020, 2019 and 2018, the Company recognized interest related income of $213.1 million, $200.6 million and $172.8 million, respectively, insurance related revenue of $49.8 million, $49.4 million and $44.4 million, respectively, and other revenues of $5.4 million, $6.0 million and $5.7 million, respectively. |
1. SUMMARY OF SIGNIFICANT AC_15
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Recent Accounting Pronouncements: | Recent Accounting Pronouncements: January 1, 2020 Assets As Reported Under ASC 326 Pre-ASC 326 Adoption Impact ofASC 326 Adoption (in 000Â’s) (in 000Â’s) (in 000Â’s) Loans: $ 88,442 $ -- $ 88,442 85,252 - 85,252 563,560 - 563,560 37,255 - 37,255 70,019 - 70,019 - 844,528 (844,528) 118,748 118,748 - 57,620 57,620 - 55,158 53,000 2,158 $ 613,002 $ 615,160 $ (2,158) Equity: Retained Earnings $ 249,553 $ 251,711 $ (2,158) |
2. LOANS_ Loans Receivable, Non
2. LOANS: Loans Receivable, Nonaccrual status policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Loans Receivable, Nonaccrual status policy | When a loan becomes 60 days or more past due based on its original terms, it is placed in non-accrual status. At this time, the accrual of any additional finance charges is discontinued. Finance charges are then only recognized to the extent there is a loan payment received or until the account qualifies for return to accrual status. Non-accrual loans return to accrual status when the loan becomes less than 60 days past due. |
1. SUMMARY OF SIGNIFICANT AC_16
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Restricted Cash: Schedule of Cash, Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Cash, Cash Equivalents and Restricted Cash | Year Ended December 31, (In thousands) 2020 2019 2018 Cash and cash equivalents $ 59,214 $ 51,934 $ 10,280 Restricted cash 8,465 6,525 3,746 Total cash, cash equivalents and restricted cash $ 67,679 $ 58,459 $ 14,026 |
1. SUMMARY OF SIGNIFICANT AC_17
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recent Accounting Pronouncements: Schedule of Impact of adopting ASU 2016-13 (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Impact of adopting ASU 2016-13 | January 1, 2020 Assets As Reported Under ASC 326 Pre-ASC 326 Adoption Impact ofASC 326 Adoption (in 000Â’s) (in 000Â’s) (in 000Â’s) Loans: $ 88,442 $ -- $ 88,442 85,252 - 85,252 563,560 - 563,560 37,255 - 37,255 70,019 - 70,019 - 844,528 (844,528) 118,748 118,748 - 57,620 57,620 - 55,158 53,000 2,158 $ 613,002 $ 615,160 $ (2,158) Equity: Retained Earnings $ 249,553 $ 251,711 $ (2,158) |
2. LOANS_ Schedule of Contractu
2. LOANS: Schedule of Contractual Maturity of Loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Contractual Maturity of Loans | Direct Real Sales Due In Cash Estate Finance Calendar Year Loans Loans Contracts 2021 53.30% 14.41% 33.73% 2022 29.89 10.15 26.96 2023 11.47 10.42 20.80 2024 4.14 9.99 13.44 2025 1.08 9.50 4.82 2026 & beyond .12 45.53 .25 100.00% 100.00% 100.00% |
2. LOANS_ Principal balances on
2. LOANS: Principal balances on non-accrual loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Principal balances on non-accrual loans | Loan Class December 31, 2020 December 31, 2019 Live Check Consumer Loans $ 3,964,176 $ 4,689,601 Premier Consumer Loans 2,069,315 2,587,373 Other Consumer Loans 20,181,097 26,509,178 Real Estate Loans 1,414,443 1,259,471 Sales Finance Contracts 3,576,629 2,301,970 $ 31,205,660 $ 37,347,593 |
2. LOANS_ Past Due Financing Re
2. LOANS: Past Due Financing Receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Past Due Financing Receivables | December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Live Check Loans $ 1,998,538 $ 1,629,874 $ 2,122,317 $ 5,750,729 Premier Loans 895,722 653,370 1,038,398 2,587,490 Other Consumer Loans 14,419,790 8,496,082 14,933,605 37,849,477 Real Estate Loans 502,733 223,007 1,437,966 2,163,706 Sales Finance Contracts 2,251,562 1,340,620 2,260,685 5,852,867 $ 20,068,345 $ 12,342,953 $ 21,792,971 $ 54,204,269 December 31, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Live Check Loans $ 2,089,313 $ 1,576,158 $ 3,079,737 $ 6,745,208 Premier Loans 1,174,364 791,218 1,216,080 3,181,662 Other Consumer Loans 16,309,594 9,251,491 20,675,879 46,236,964 Real Estate Loans 900,373 339,977 1,592,069 2,832,419 Sales Finance Contracts 1,691,694 754,381 1,755,318 4,201,393 $ 22,165,338 $ 12,713,225 $ 28,319,083 $ 63,197,646 |
2. LOANS_ Schedule of Net Balan
2. LOANS: Schedule of Net Balance In each segment in the portfolio based on payment activity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Net Balance In each segment in the portfolio based on payment activity | Payment Performance – Net Balance by Origination Year 2020 (1) 2019 2018 2017 2016 Prior Total Net Balance (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) (in 000’s) Live Checks: $ 91,968 $ 10,476 $ 1,700 $ 182 $ 1 $ - $ 104,327 3,231 654 68 11 - - 3,964 $ 95,199 $ 11,130 1,798 $ 193 $ 1 $ - $ 108,291 Premier Loans: $ 59,688 $ 23,398 $ 6,625 $ 916 $ - $ - $ 90,627 911 821 316 20 - - 2,068 $ 60,599 $ 24,219 6,941 $ 936 $ - $ - $ 92,695 Other Consumer Loans: $ 431,482 $ 96,393 $ 21,123 $ 3,559 $ 559 $ 201 $ 553,317 10,867 7,331 1,681 240 49 13 20,181 $ 442,349 $ 103,724 22,804 $ 3,799 $ 608 $ 214 $ 573,498 Real Estate Loans: $ 10,713 $ 9,552 $ 6,944 $ 3,896 $ 2,039 $ 2,739 $ 35,883 257 415 315 118 90 219 1,414 $ 10,970 $ 9,967 7,259 $ 4,014 $ 2,129 $ 2,958 $ 37,297 Sales Finance Contracts: $ 70,603 $ 21,278 $ 5,929 $ 863 $ 90 $ 29 $ 98,792 2,270 892 329 77 4 4 3,576 $ 72,873 $ 22,170 6,258 $ 940 $ 94 $ 33 $ 102,368 |
2. LOANS_ Schedule of Additiona
2. LOANS: Schedule of Additional information on allowance for credit losses based on a collective evaluation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Additional information on allowance for credit losses based on a collective evaluation | 2020 Live Checks Premier Loans OtherConsumer Loans Real EstateLoans Sales FinanceContracts Total (in 000Â’s) (in 000Â’s) (in 000Â’s) (in 000Â’s) (in 000Â’s) (in 000Â’s) Allowance for Credit Losses: $ - $ - $ - $ - $ - $ 53,000 - - - - - 2,158 $ 8,177 $ 4,121 $ 39,180 $ 169 $ 3,511 $ 55,158 11,544 5,797 33,760 140 5,449 56,690 (11,735) (4,592) (42,696) (49) (4,275) (63,347) 2,779 512 13,589 7 940 17,827 $ 10,765 $ 5,838 $ 43,833 $ 267 $ 5,625 $ 66,328 |
2. LOANS_ Schedule of Allowance
2. LOANS: Schedule of Allowance for loan losses on a collectively evaluated, single portfolio segment basis (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Allowance for loan losses on a collectively evaluated, single portfolio segment basis | 2019 2018 (in 000Â’s) (in 000Â’s) Allowance for Loan Losses $ 43,000,000 $ 42,500,000 59,695,588 39,207,197 (66,682,422) (53,570,647) 16,986,534 14,863,450 $ 53,000,000 $ 43,000,000 Finance Receivables: $ 840,458,743 $ 729,783,655 |
2. LOANS_ Schedule of Small hom
2. LOANS: Schedule of Small homogeneous consumer loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Small homogeneous consumer loans | December 31, 2020 Principal Balance % Portfolio Net Charge Offs % Net Charge Offs Consumer Loans $ 775,713,298 84.5 % $ 42,142,861 92.6 % Real Estate Loans 39,293,179 4.3 41,751 .1 Sales Finance Contracts 102,435,221 11.2 3,335,359 7.3 $ 917,441,698 100.0 % $ 45,519,971 100.0 % December 31, 2019 Principal Balance % Portfolio Net Charge Offs % Net Charge Offs Consumer Loans $ 734,556,902 87.4 % $ 47,227,395 95.0 % Real Estate Loans 36,595,931 4.4 40,279 .1 Sales Finance Contracts 69,305,910 8.2 2,428,214 4.9 $ 840,458,743 100.0 % $ 49,695,888 100.0 % |
2. LOANS_ Troubled Debt Restruc
2. LOANS: Troubled Debt Restructurings on Financing Receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Troubled Debt Restructurings on Financing Receivables | Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Live Check Consumer Loans 2,127 $ 3,688,912 $ 3,588,117 Premier Consumer Loans 485 3,185,328 3,090,506 Other Consumer Loans 11,463 41,709,966 39,405,511 Real Estate Loans 39 465,759 453,611 Sales Finance Contracts 846 4,379,561 4,215,137 14,960 $ 53,429,526 $ 50,752,882 TDRs that subsequently defaulted during the year ended December 31, 2020 are listed below. Number of Loans Pre-Modification Recorded Investment Live Check Consumer Loans 787 $ 1,248,879 Premier Consumer Loans 92 480,080 Other Consumer Loans 2,735 5,523,962 Real Estate Loans 4 27,476 Sales Finance Contracts 183 475,188 3,801 $ 7,755,585 The following table presents a summary of loans that were restructured during the year ended December 31, 2019. Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Consumer Loans 18,680 $ 55,198,024 $ 52,873,724 Real Estate Loans 50 698,205 695,693 Sales Finance Contracts 870 3,226,704 3,086,441 19,600 $ 59,122,933 $ 56,655,858 TDRs that subsequently defaulted during the year ended December 31, 2019 are listed below. Number of Loans Pre-Modification Recorded Investment Consumer Loans 5,854 $ 10,583,099 Real Estate Loans - - Sales Finance Contracts 222 546,101 6,076 $ 11,129,200 The following table presents a summary of loans that were restructured during the year ended December 31, 2018. Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Consumer Loans 16,473 $ 42,571,410 $ 41,169,632 Real Estate Loans 51 468,208 458,496 Sales Finance Contracts 685 1,742,532 1,671,991 17,209 $ 44,782,150 $ 43,300,119 TDRs that subsequently defaulted during the year ended December 31, 2018 are listed below. Number of Loans Pre-Modification Recorded Investment Consumer Loans 4,625 $ 7,364,675 Real Estate Loans 1 4,233 Sales Finance Contracts 144 304,882 4,770 $ 7,673,790 |
3. INVESTMENT SECURITIES_ Avail
3. INVESTMENT SECURITIES: Available-for-sale Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Available-for-sale Securities | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2020 Obligations of states and $ 204,199,851 $ 16,464,476 $ (1,022) $ 220,663,305 Corporate securities 130,316 260,797 -- 391,113 $ 204,330,167 $ 16,725,273 $ (1,022) $ 221,054,418 December 31, 2019 Obligations of states and $ 192,240,250 $ 11,796,039 $ (24,092) $ 204,012,197 Corporate securities 130,316 315,009 -- 445,325 $ 192,370,566 $ 12,111,048 $ (24,092) $ 204,457,522 |
3. INVESTMENT SECURITIES_ Held-
3. INVESTMENT SECURITIES: Held-to-maturity Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Held-to-maturity Securities | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value December 31, 2020 Obligations of states and $ 379,002 $ 1,848 $ - $ 380,850 December 31, 2019 Obligations of states and $ 380,561 $ 8,959 $ - $ 389,520 |
3. INVESTMENT SECURITIES_ Inves
3. INVESTMENT SECURITIES: Investments Classified by Contractual Maturity Date (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Investments Classified by Contractual Maturity Date | Available for Sale Held to Maturity Estimated Estimated Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ 971,354 $ 1,234,597 $ -- $ -- Due after one year through five years 5,668,206 5,781,356 379,002 380,850 Due after five years through ten years 22,551,147 23,863,176 -- -- Due after ten years 175,139,460 190,175,289 -- -- $ 204,330,167 $ 221,054,418 $ 379,002 $ 380,850 |
3. INVESTMENT SECURITIES_ Sched
3. INVESTMENT SECURITIES: Schedule of Investment Securities, Fair Value and Unrealized Losses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Investment Securities, Fair Value and Unrealized Losses | Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for Sale: Obligations of states and political subdivisions $ 920,927 $ (1,022) $ - $ - $ 920,927 $ (1,022) |
Schedule of Investment Securities, Fair Value and Unrealized Losses | Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for Sale: Obligations of states and political subdivisions $ 1,206,656 $ (18,941) $ 986,642 $ (5,151) $ 2,193,298 $ (24,092) |
4. FAIR VALUE_ Fair Value Measu
4. FAIR VALUE: Fair Value Measurements, by Fair Value hierarchy (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Fair Value Measurements, by Fair Value hierarchy | Fair Value Measurements at Reporting Date Using Fair Value Measurements at Reporting Date Using Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs Description 2020 (Level 1) (Level 2) (Level 3) Corporate securities $ 391,113 $ 391,113 $ -- $ -- Obligations of states and political subdivisions 220,663,305 -- 220,663,305 -- Available-for-sale investment securities $ 221,054,418 $ 391,113 $ 220,663,305 $ -- Fair Value Measurements at Reporting Date Using Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs Description 2019 (Level 1) (Level 2) (Level 3) Corporate securities $ 445,325 $ 445,325 $ -- $ -- Obligations of states and political subdivisions 204,012,195 -- 204,012,195 -- Available-for-sale investment securities $ 204,457,520 $ 445,325 $ 204,012,195 $ -- |
6. SENIOR DEBT_ Schedule of Sen
6. SENIOR DEBT: Schedule of Senior Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Senior Debt | Weighted Average Maximum Average Weighted Interest Amount Amount Average Year Ended Rate at End Outstanding Outstanding Interest Rate December 31 of Year During Year During Year During Year (In thousands, except % data) 2020: Bank Borrowings 3.50% $ 123,256 $ 104,206 4.38% Senior Demand Notes 1.90 87,413 82,509 1.90 Commercial Paper 3.45 431,314 407,156 3.48 3.25 636,784 593,871 3.42 2019: Bank Borrowings 4.45% $ 111,350 $ 73,307 5.60% Senior Demand Notes 1.89 76,204 73,498 1.87 Commercial Paper 3.47 402,651 389,597 3.38 3.45 590,205 536,402 3.48 2018: Bank Borrowings 5.74% $ 53,180 $ 6,999 5.21% Senior Demand Notes 1.64 77,731 74,267 1.52 Commercial Paper 3.13 373,167 364,362 3.01 3.19 499,666 445,628 2.92 |
7. SUBORDINATED DEBT_ Schedule
7. SUBORDINATED DEBT: Schedule of Subordinated Debt Interest Rates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Subordinated Debt Interest Rates | Weighted Average Interest Rate atEnd of Year Weighted Average Interest RateDuring Year 2020 2019 2018 2020 2019 2018 3.10% 2.96% 2.70% 3.01% 2.81% 2.66% |
7. SUBORDINATED DEBT_ Maturity
7. SUBORDINATED DEBT: Maturity and redemption information relating to Subordinated Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Maturity and redemption information relating to Subordinated Debt | Amount Maturing or Redeemable at Option of Holder Based on Maturity Based on Interest Date Adjustment Period 2021 $ 6,068,119 $ 16,410,974 2022 5,219,163 7,405,587 2023 9,010,098 2,940,375 2024 9,778,019 3,318,463 $ 30,075,399 $ 30,075,399 |
8. LEASES_ Schedule of lease ex
8. LEASES: Schedule of lease expense and other information related to Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of lease expense and other information related to Operating Leases | Twelve Months Ended Dec. 31, 2020 Operating lease expense $ 7,226,361 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 7,055,046 Weighted-average remaining lease term – operating leases (in years) 7.07 Weighted-average discount rate – operating leases 4.92% Lease Maturity Schedule as of December 31, 2019: Amount 2021 6,982,155 2022 6,444,448 2023 5,577,917 2024 4,846,460 2025 4,489,926 2026 and beyond 11,855,364 Total 40,196,270 Less interest (6,033,117) Present Value of Lease Liability $ 34,163,153 Twelve Months Ended Dec. 31, 2019 Operating lease expense $ 6,721,970 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 6,564,569 Weighted-average remaining lease term – operating leases (in years) 6.86 Weighted-average discount rate – operating leases 5.67 % Lease Maturity Schedule as of December 31, 2019: Amount 2020 6,823,468 2021 6,152,783 2022 5,556,754 2023 4,737,533 2024 4,008,787 2025 and beyond 10,848,375 Total 38,127,700 Less interest (6,472,138) Present Value of Lease Liability $ 31,655,562 |
12. INCOME TAXES_ Schedule of C
12. INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | 2020 2019 2018 Current – Federal $ 3,024,953 $ 3,207,966 $ 2,689,220 Current – State 205,779 126,466 -- 3,230,732 3,334,432 2,689,220 Deferred – Federal 156,075 444,780 522,773 $ 3,386,807 $ 3,779,212 $ 3,211,993 |
12. INCOME TAXES_ Schedule of D
12. INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | Deferred Tax Assets (Liabilities) 2020 2019 Insurance Commissions $ (4,459,805) $ (4,284,082) Unearned Premium Reserves 1,937,163 1,848,978 Deferred Acquisition Cost Amortization (1,336,728) (1,221,520) SPAE Capitalization 27,107 32,616 STAT & Tax Reserve 551,919 502,808 GAAP/STAT Premium Tax (205,280) (201,996) Unrealized Loss (Gain) on (3,457,325) (2,472,109) Other (53,948) (60,301) $ (6,996,897) $ (5,855,606) |
12. INCOME TAXES_ Schedule of I
12. INCOME TAXES: Schedule of Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Income Tax Rate Reconciliation | 2020 2019 2018 Statutory Federal income tax rate 21.0% 21.0% 21.0% Tax Reform Act Impact - - - Tax effect of S corporation status 1.0 6.7 (.4) Tax exempt income (5.5) (6.4) (5.1) Miscellaneous 1.1 .8 .1 17.6% 22.1% 15.6% |
13. SEGMENT FINANCIAL INFORMA_2
13. SEGMENT FINANCIAL INFORMATION: Schedule of Segment Reporting Information, by Segment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Segment Reporting Information, by Segment | Below is a performance recap of each of the Company's divisions for the year ended December 31, 2020 followed by a reconciliation to consolidated Company data. Year 2020 Division I Division II Division III Division IV Division V Division VII Division VIII Division IX Total (In Millions) Revenues: Finance Charges Earned $ 33.4 $ 28.6 $ 30.3 $ 34.0 $ 21.5 $ 21.5 $ 17.2 $ 26.5 $ 213.0 Insurance Income 4.8 6.7 8.3 4.2 3.8 3.2 3.8 5.3 40.1 Other .1 .8 1.0 1.1 .6 .5 .4 .7 5.2 38.3 36.1 39.6 39.3 25.9 25.2 21.4 32.5 258.3 Expenses: Interest Cost 3.0 3.1 3.2 3.6 2.0 2.2 1.7 2.8 21.6 Provision for Loan Losses 8.5 4.7 6.0 6.6 4.4 5.9 4.5 4.9 45.5 Depreciation .4 .4 .3 .5 .5 .5 .3 .5 3.4 Other 13.5 12.8 12.9 14.3 10.4 10.2 10.6 13.1 97.8 25.4 21.0 22.4 25.0 17.3 18.8 17.1 21.3 168.3 Division Profit $ 12.9 $ 15.1 $ 17.2 $ 14.3 $ 8.6 $ 6.4 $ 4.3 $ 11.2 $ 90.0 Division Assets: Net Receivables $ 102.6 $ 106.2 $ 111.3 $ 128.9 $ 71.3 $ 76.5 $ 64.7 $ 97.3 $ 758.8 Cash .5 .5 .7 .6 .5 .3 .4 .4 3.9 Net Fixed Assets .7 .8 .9 1.4 1.6 1.2 .9 .9 8.4 Other Assets 3.2 4.6 4.3 5.7 3.7 4.3 3.3 4.5 33.6 Total Division Assets $ 107.0 $ 112.1 $ 117.2 $ 136.6 $ 77.1 $ 82.3 $ 69.3 $ 103.1 $ 804.7 RECONCILIATION: 2019 (In Millions) Revenues: Total revenues from reportable divisions $ 258.3 Corporate finance charges earned not allocated to divisions .1 Corporate investment income earned not allocated to divisions 6.9 Timing difference of insurance income allocation to divisions .9.7 Other revenues not allocated to divisions $ 2 Consolidated Revenues (1) $ 275.2 Net Income: Total profit or loss for reportable divisions $ 90.0 Corporate earnings not allocated 16.8 Corporate expenses not allocated (87.5) Consolidated Income Before Income Taxes $ 19.3 Assets: Total assets for reportable divisions $ 804.7 Loans held at corporate level 2.2 Unearned insurance at corporate level (33.8) Allowance for loan losses at corporate level (66.3) Cash and cash equivalents held at corporate level 63.8 Investment securities at corporate level 221.4 Fixed assets at corporate level 5.1 Other assets at corporate level 16.6 Consolidated Assets $ 1,013.7 Note 1: Below is a performance recap of each of the Company's divisions for the year ended December 31, 2019 followed by a reconciliation to consolidated Company data. Year 2019 Division I Division II Division III Division IV Division V Division VII Division VIII Division IX Total (In Millions) Revenues: Finance Charges Earned $ 32.3 $ 29.0 $ 26.9 $ 32.4 $ 19.0 $ 18.8 $ 15.9 $ 26.1 $ 200.4 Insurance Income 5.3 6.8 8.1 4.4 3.5 3.2 3.7 6.7 41.7 Other .1 1.1 1.0 1.1 .7 .5 .5 1.0 6.0 37.7 36.9 36.0 37.9 23.2 22.5 20.1 33.8 248.1 Expenses: Interest Cost 2.8 3.0 2.8 3.3 1.8 1.8 1.5 2.7 19.7 Provision for Loan Losses 8.4 6.1 5.9 8.2 5.0 5.9 4.1 6.1 49.7 Depreciation .5 .4 .3 .5 .4 .4 .4 .5 3.4 Other 13.3 12.8 12.5 14.2 10.3 9.8 10.1 13.1 96.1 25.0 22.3 21.5 26.2 17.5 17.9 16.1 22.4 168.9 Division Profit $ 12.7 $ 14.6 $ 14.5 $ 11.7 $ 5.7 $ 4.6 $ 4.0 $ 11.4 $ 79.2 Division Assets: Net Receivables $ 100.3 $ 103.1 $ 99.4 $ 116.4 $ 63.2 $ 67.8 $ 54.8 $ 92.4 $ 697.4 Cash .2 .3 .4 .4 .3 .2 .2 .3 2.3 Net Fixed Assets 1.0 1.0 .7 1.4 1.6 1.4 .9 1.1 9.1 Other Assets 3.5 4.8 3.4 5.4 3.2 3.7 3.2 4.4 31.6 Total Division Assets $ 105.0 $ 109.2 $ 103.9 $ 123.6 $ 68.3 $ 73.1 $ 59.1 $ 98.2 $ 740.4 RECONCILIATION: 2019 (In Millions) Revenues: Total revenues from reportable divisions $ 248.1 Corporate finance charges earned not allocated to divisions .1 Corporate investment income earned not allocated to divisions 7.4 Timing difference of insurance income allocation to divisions 7.7 Other revenues not allocated to divisions .0 Consolidated Revenues (1) $ 263.3 Net Income: Total profit or loss for reportable divisions $ 79.2 Corporate earnings not allocated 15.2 Corporate expenses not allocated (77.3) Consolidated Income Before Income Taxes $ 17.1 Assets: Total assets for reportable divisions $ 740.4 Loans held at corporate level 2.4 Unearned insurance at corporate level (31.6) Allowance for loan losses at corporate level (53.0) Cash and cash equivalents held at corporate level 56.1 Investment securities at corporate level 204.9 Fixed assets at corporate level 6.3 Other assets at corporate level 13.7 Consolidated Assets $ 939.2 Note 1: Below is a performance recap of each of the Company's divisions for the year ended December 31, 2018 followed by a reconciliation to consolidated Company data. Year 2018 Division I Division II Division III Division IV Division V Division VII Division VIII Division IX Total (In Millions) Revenues: Finance Charges Earned $ 26.2 $ 26.3 $ 24.5 $ 29.7 $ 17.0 $ 13.1 $ 13.0 $ 22.9 $ 172.7 Insurance Income 4.4 6.0 7.6 4.2 3.2 2.5 3.0 6.2 37.1 Other .1 1.0 1.1 1.0 .6 .4 .5 1.0 5.7 30.7 33.3 33.2 34.9 20.8 16.0 16.5 30.1 215.5 Expenses: Interest Cost 1.9 2.2 2.1 2.5 1.3 1.1 1.0 1.9 14.0 Provision for Loan Losses 5.4 4.9 5.4 7.1 3.8 3.8 3.1 5.1 38.6 Depreciation .5 .5 .3 .5 .3 .3 .3 .5 3.2 Other 12.6 12.2 12.0 13.2 9.5 8.2 8.8 12.0 88.5 20.4 19.8 19.8 23.3 14.9 13.4 13.2 19.5 144.3 Division Profit $ 10.3 $ 13.5 $ 13.4 $ 11.6 $ 5.9 $ 2.6 $ 3.3 $ 10.6 $ 71.2 Division Assets: Net Receivables $ 85.0 $ 95.3 $ 88.2 $ 105.4 $ 55.0 $ 53.8 $ 44.4 $ 82.9 $ 610.0 Cash .3 .4 .4 .4 .3 .2 .3 .3 2.6 Net Fixed Assets 1.0 1.1 .7 1.4 .9 1.0 .7 1.1 7.9 Other Assets - - .1 .2 .1 - .1 .1 .6 Total Division Assets $ 86.3 $ 96.8 $ 89.4 $ 107.4 $ 56.3 $ 55.0 $ 45.5 $ 84.4 $ 621.1 RECONCILIATION: 2018 (In Millions) Revenues: Total revenues from reportable divisions $ 215.5 Corporate finance charges earned not allocated to divisions .1 Corporate investment income earned not allocated to divisions 7.2 Timing difference of insurance income allocation to divisions 7.2 Other revenues not allocated to divisions .1 Consolidated Revenues (1) $ 230.1 Net Income: Total profit or loss for reportable divisions $ 71.2 Corporate earnings not allocated 14.5 Corporate expenses not allocated (65.2) Consolidated Income Before Income Taxes $ 20.5 Assets: Total assets for reportable divisions $ 621.1 Loans held at corporate level 2.4 Unearned insurance at corporate level (27.3) Allowance for loan losses at corporate level (43.0) Cash and cash equivalents held at corporate level 11.4 Investment securities at corporate level 213.0 Fixed assets at corporate level 7.5 Other assets at corporate level 11.3 Consolidated Assets $ 796.4 Note 1: |
1. SUMMARY OF SIGNIFICANT AC_18
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Depreciation and Amortization (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | |||
Depreciation and amortization | $ 4,837,876 | $ 4,906,380 | $ 4,631,106 |
1. SUMMARY OF SIGNIFICANT AC_19
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Restricted Cash: Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Details | |||
Cash and cash equivalents | $ 59,214 | $ 51,934 | $ 10,280 |
Restricted cash | 8,465 | 6,525 | 3,746 |
Total cash, cash equivalents and restricted cash | $ 67,679 | $ 58,459 | $ 14,026 |
1. SUMMARY OF SIGNIFICANT AC_20
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue from Contracts with Customers (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | |||
Interest related income | $ 213.1 | $ 200.6 | $ 172.8 |
Insurance related revenue | 49.8 | 49.4 | 44.4 |
Other revenues | $ 5.4 | $ 6 | $ 5.7 |
1. SUMMARY OF SIGNIFICANT AC_21
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recent Accounting Pronouncements: Schedule of Impact of adopting ASU 2016-13 (Details) $ in Thousands | Dec. 31, 2019USD ($) |
As Reported Under ASC 326 | |
Loans - Live Checks | $ 88,442 |
Loans - Premier Loans | 85,252 |
Loans - Other Consumer Loans | 563,560 |
Loans - Real Estate Loans | 37,255 |
Loans - Sales Finance Contracts | 70,019 |
Loans - Total Portfolio Level | 0 |
Loans - Unearned Finance Charges | 118,748 |
Loans - Unearned Insurance Premiums & Comm | 57,620 |
Loans - Allowance for Credit Losses | 55,158 |
Loans - Total Net | 613,002 |
Equity - Retained Earnings | 249,553 |
Pre-ASC 326 Adoption | |
Loans - Live Checks | 0 |
Loans - Premier Loans | 0 |
Loans - Other Consumer Loans | 0 |
Loans - Real Estate Loans | 0 |
Loans - Sales Finance Contracts | 0 |
Loans - Total Portfolio Level | 844,528 |
Loans - Unearned Finance Charges | 118,748 |
Loans - Unearned Insurance Premiums & Comm | 57,620 |
Loans - Allowance for Credit Losses | 53,000 |
Loans - Total Net | 615,160 |
Equity - Retained Earnings | 251,711 |
Impact of ASC 326 Adoption | |
Loans - Live Checks | 88,442 |
Loans - Premier Loans | 85,252 |
Loans - Other Consumer Loans | 563,560 |
Loans - Real Estate Loans | 37,255 |
Loans - Sales Finance Contracts | 70,019 |
Loans - Total Portfolio Level | (844,528) |
Loans - Unearned Finance Charges | 0 |
Loans - Unearned Insurance Premiums & Comm | 0 |
Loans - Allowance for Credit Losses | 2,158 |
Loans - Total Net | (2,158) |
Equity - Retained Earnings | $ (2,158) |
2. LOANS_ Schedule of Contrac_2
2. LOANS: Schedule of Contractual Maturity of Loans (Details) | Dec. 31, 2020 |
Direct Cash Loans | |
Contractual Maturity as percentage of loan balances | 100.00% |
Direct Cash Loans | 2021 | |
Contractual Maturity as percentage of loan balances | 53.30% |
Direct Cash Loans | 2022 | |
Contractual Maturity as percentage of loan balances | 29.89% |
Direct Cash Loans | 2023 | |
Contractual Maturity as percentage of loan balances | 11.47% |
Direct Cash Loans | 2024 | |
Contractual Maturity as percentage of loan balances | 4.14% |
Direct Cash Loans | 2025 | |
Contractual Maturity as percentage of loan balances | 1.08% |
Direct Cash Loans | 2026 & beyond | |
Contractual Maturity as percentage of loan balances | 0.12% |
Real Estate Loans | |
Contractual Maturity as percentage of loan balances | 100.00% |
Real Estate Loans | 2021 | |
Contractual Maturity as percentage of loan balances | 14.41% |
Real Estate Loans | 2022 | |
Contractual Maturity as percentage of loan balances | 10.15% |
Real Estate Loans | 2023 | |
Contractual Maturity as percentage of loan balances | 10.42% |
Real Estate Loans | 2024 | |
Contractual Maturity as percentage of loan balances | 9.99% |
Real Estate Loans | 2025 | |
Contractual Maturity as percentage of loan balances | 9.50% |
Real Estate Loans | 2026 & beyond | |
Contractual Maturity as percentage of loan balances | 45.53% |
Sales Finance Contracts | |
Contractual Maturity as percentage of loan balances | 100.00% |
Sales Finance Contracts | 2021 | |
Contractual Maturity as percentage of loan balances | 33.73% |
Sales Finance Contracts | 2022 | |
Contractual Maturity as percentage of loan balances | 26.96% |
Sales Finance Contracts | 2023 | |
Contractual Maturity as percentage of loan balances | 20.80% |
Sales Finance Contracts | 2024 | |
Contractual Maturity as percentage of loan balances | 13.44% |
Sales Finance Contracts | 2025 | |
Contractual Maturity as percentage of loan balances | 4.82% |
Sales Finance Contracts | 2026 & beyond | |
Contractual Maturity as percentage of loan balances | 0.25% |
2. LOANS (Details)
2. LOANS (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 0 | |
Ratio of bankrupt accounts to total principal loan balances | 1.48% | 2.09% |
2. LOANS_ Principal balances _2
2. LOANS: Principal balances on non-accrual loans (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Nonaccrual | $ 31,205,660 | $ 37,347,593 |
Live Check Consumer Loans | ||
Financing Receivable, Nonaccrual | 3,964,176 | 4,689,601 |
Premier Consumer Loans | ||
Financing Receivable, Nonaccrual | 2,069,315 | 2,587,373 |
Other Consumer Loans | ||
Financing Receivable, Nonaccrual | 20,181,097 | 26,509,178 |
Real Estate Loans | ||
Financing Receivable, Nonaccrual | 1,414,443 | 1,259,471 |
Sales Finance Contracts | ||
Financing Receivable, Nonaccrual | $ 3,576,629 | $ 2,301,970 |
2. LOANS_ Past Due Financing _2
2. LOANS: Past Due Financing Receivables (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $ 20,068,345 | $ 22,165,338 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 12,342,953 | 12,713,225 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 21,792,971 | 28,319,083 |
Financing Receivable, Past Due | 54,204,269 | 63,197,646 |
Live Check Consumer Loans | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,998,538 | 2,089,313 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,629,874 | 1,576,158 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,122,317 | 3,079,737 |
Financing Receivable, Past Due | 5,750,729 | 6,745,208 |
Premier Consumer Loans | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 895,722 | 1,174,364 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 653,370 | 791,218 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,038,398 | 1,216,080 |
Financing Receivable, Past Due | 2,587,490 | 3,181,662 |
Other Consumer Loans | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 14,419,790 | 16,309,594 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 8,496,082 | 9,251,491 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 14,933,605 | 20,675,879 |
Financing Receivable, Past Due | 37,849,477 | 46,236,964 |
Real Estate Loans | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 502,733 | 900,373 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 223,007 | 339,977 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,437,966 | 1,592,069 |
Financing Receivable, Past Due | 2,163,706 | 2,832,419 |
Sales Finance Contracts | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,251,562 | 1,691,694 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,340,620 | 754,381 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,260,685 | 1,755,318 |
Financing Receivable, Past Due | $ 5,852,867 | $ 4,201,393 |
2. LOANS_ Schedule of Net Bal_2
2. LOANS: Schedule of Net Balance In each segment in the portfolio based on payment activity (Details) | Dec. 31, 2020USD ($) | |
Origination Year 2020 | Live Check Consumer Loans | ||
Payment Performance - Net Balance | $ 95,199 | [1] |
Origination Year 2020 | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 91,968 | [1] |
Origination Year 2020 | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 3,231 | [1] |
Origination Year 2020 | Premier Consumer Loans | ||
Payment Performance - Net Balance | 60,599 | [1] |
Origination Year 2020 | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 59,688 | [1] |
Origination Year 2020 | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 911 | [1] |
Origination Year 2020 | Other Consumer Loans | ||
Payment Performance - Net Balance | 442,349 | [1] |
Origination Year 2020 | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 431,482 | [1] |
Origination Year 2020 | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 10,867 | [1] |
Origination Year 2020 | Real Estate Loans | ||
Payment Performance - Net Balance | 10,970 | [1] |
Origination Year 2020 | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 10,713 | [1] |
Origination Year 2020 | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 257 | [1] |
Origination Year 2020 | Sales Finance Contracts | ||
Payment Performance - Net Balance | 72,873 | [1] |
Origination Year 2020 | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 70,603 | [1] |
Origination Year 2020 | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | 2,270 | [1] |
Origination Year 2019 | Live Check Consumer Loans | ||
Payment Performance - Net Balance | 11,130 | |
Origination Year 2019 | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 10,476 | |
Origination Year 2019 | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 654 | |
Origination Year 2019 | Premier Consumer Loans | ||
Payment Performance - Net Balance | 24,219 | |
Origination Year 2019 | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 23,398 | |
Origination Year 2019 | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 821 | |
Origination Year 2019 | Other Consumer Loans | ||
Payment Performance - Net Balance | 103,724 | |
Origination Year 2019 | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 96,393 | |
Origination Year 2019 | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 7,331 | |
Origination Year 2019 | Real Estate Loans | ||
Payment Performance - Net Balance | 9,967 | |
Origination Year 2019 | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 9,552 | |
Origination Year 2019 | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 415 | |
Origination Year 2019 | Sales Finance Contracts | ||
Payment Performance - Net Balance | 22,170 | |
Origination Year 2019 | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 21,278 | |
Origination Year 2019 | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | 892 | |
Origination Year 2018 | Live Check Consumer Loans | ||
Payment Performance - Net Balance | 1,798 | |
Origination Year 2018 | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 1,700 | |
Origination Year 2018 | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 68 | |
Origination Year 2018 | Premier Consumer Loans | ||
Payment Performance - Net Balance | 6,941 | |
Origination Year 2018 | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 6,625 | |
Origination Year 2018 | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 316 | |
Origination Year 2018 | Other Consumer Loans | ||
Payment Performance - Net Balance | 22,804 | |
Origination Year 2018 | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 21,123 | |
Origination Year 2018 | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 1,681 | |
Origination Year 2018 | Real Estate Loans | ||
Payment Performance - Net Balance | 7,259 | |
Origination Year 2018 | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 6,944 | |
Origination Year 2018 | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 315 | |
Origination Year 2018 | Sales Finance Contracts | ||
Payment Performance - Net Balance | 6,258 | |
Origination Year 2018 | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 5,929 | |
Origination Year 2018 | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | 329 | |
Origination Year 2017 | Live Check Consumer Loans | ||
Payment Performance - Net Balance | 193 | |
Origination Year 2017 | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 182 | |
Origination Year 2017 | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 11 | |
Origination Year 2017 | Premier Consumer Loans | ||
Payment Performance - Net Balance | 936 | |
Origination Year 2017 | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 916 | |
Origination Year 2017 | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 20 | |
Origination Year 2017 | Other Consumer Loans | ||
Payment Performance - Net Balance | 3,799 | |
Origination Year 2017 | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 3,559 | |
Origination Year 2017 | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 240 | |
Origination Year 2017 | Real Estate Loans | ||
Payment Performance - Net Balance | 4,014 | |
Origination Year 2017 | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 3,896 | |
Origination Year 2017 | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 118 | |
Origination Year 2017 | Sales Finance Contracts | ||
Payment Performance - Net Balance | 940 | |
Origination Year 2017 | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 863 | |
Origination Year 2017 | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | 77 | |
Origination Year 2016 | Live Check Consumer Loans | ||
Payment Performance - Net Balance | 1 | |
Origination Year 2016 | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 1 | |
Origination Year 2016 | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 0 | |
Origination Year 2016 | Premier Consumer Loans | ||
Payment Performance - Net Balance | 0 | |
Origination Year 2016 | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 0 | |
Origination Year 2016 | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 0 | |
Origination Year 2016 | Other Consumer Loans | ||
Payment Performance - Net Balance | 608 | |
Origination Year 2016 | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 559 | |
Origination Year 2016 | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 49 | |
Origination Year 2016 | Real Estate Loans | ||
Payment Performance - Net Balance | 2,129 | |
Origination Year 2016 | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 2,039 | |
Origination Year 2016 | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 90 | |
Origination Year 2016 | Sales Finance Contracts | ||
Payment Performance - Net Balance | 94 | |
Origination Year 2016 | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 90 | |
Origination Year 2016 | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | 4 | |
Origination Year Prior | Live Check Consumer Loans | ||
Payment Performance - Net Balance | 0 | |
Origination Year Prior | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 0 | |
Origination Year Prior | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 0 | |
Origination Year Prior | Premier Consumer Loans | ||
Payment Performance - Net Balance | 0 | |
Origination Year Prior | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 0 | |
Origination Year Prior | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 0 | |
Origination Year Prior | Other Consumer Loans | ||
Payment Performance - Net Balance | 214 | |
Origination Year Prior | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 201 | |
Origination Year Prior | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 13 | |
Origination Year Prior | Real Estate Loans | ||
Payment Performance - Net Balance | 2,958 | |
Origination Year Prior | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 2,739 | |
Origination Year Prior | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 219 | |
Origination Year Prior | Sales Finance Contracts | ||
Payment Performance - Net Balance | 33 | |
Origination Year Prior | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 29 | |
Origination Year Prior | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | 4 | |
Origination Year Total Net Balance | Live Check Consumer Loans | ||
Payment Performance - Net Balance | 108,291 | |
Origination Year Total Net Balance | Live Check Consumer Loans | Performing | ||
Payment Performance - Net Balance | 104,327 | |
Origination Year Total Net Balance | Live Check Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 3,964 | |
Origination Year Total Net Balance | Premier Consumer Loans | ||
Payment Performance - Net Balance | 92,695 | |
Origination Year Total Net Balance | Premier Consumer Loans | Performing | ||
Payment Performance - Net Balance | 90,627 | |
Origination Year Total Net Balance | Premier Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 2,068 | |
Origination Year Total Net Balance | Other Consumer Loans | ||
Payment Performance - Net Balance | 573,498 | |
Origination Year Total Net Balance | Other Consumer Loans | Performing | ||
Payment Performance - Net Balance | 553,317 | |
Origination Year Total Net Balance | Other Consumer Loans | Nonperforming | ||
Payment Performance - Net Balance | 20,181 | |
Origination Year Total Net Balance | Real Estate Loans | ||
Payment Performance - Net Balance | 37,297 | |
Origination Year Total Net Balance | Real Estate Loans | Performing | ||
Payment Performance - Net Balance | 35,883 | |
Origination Year Total Net Balance | Real Estate Loans | Nonperforming | ||
Payment Performance - Net Balance | 1,414 | |
Origination Year Total Net Balance | Sales Finance Contracts | ||
Payment Performance - Net Balance | 102,368 | |
Origination Year Total Net Balance | Sales Finance Contracts | Performing | ||
Payment Performance - Net Balance | 98,792 | |
Origination Year Total Net Balance | Sales Finance Contracts | Nonperforming | ||
Payment Performance - Net Balance | $ 3,576 | |
[1] | Includes loans originated during the twelve-months ended December 31, 2020. |
2. LOANS_ Schedule of Additio_2
2. LOANS: Schedule of Additional information on allowance for credit losses based on a collective evaluation (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Live Check Consumer Loans | |
Allowance for Credit Losses | $ 0 |
Impact of adopting ASC 326 | 0 |
Allosance for Credit Losses after Impact of adopting ASC 326 | 8,177 |
Provision for Credit Losses | 11,544 |
Charge-offs | (11,735) |
Recoveries | 2,779 |
Allowance for Credit Losses | 10,765 |
Premier Consumer Loans | |
Allowance for Credit Losses | 0 |
Impact of adopting ASC 326 | 0 |
Allosance for Credit Losses after Impact of adopting ASC 326 | 4,121 |
Provision for Credit Losses | 5,797 |
Charge-offs | (4,592) |
Recoveries | 512 |
Allowance for Credit Losses | 5,838 |
Other Consumer Loans | |
Allowance for Credit Losses | 0 |
Impact of adopting ASC 326 | 0 |
Allosance for Credit Losses after Impact of adopting ASC 326 | 39,180 |
Provision for Credit Losses | 33,760 |
Charge-offs | (42,696) |
Recoveries | 13,589 |
Allowance for Credit Losses | 43,833 |
Real Estate Loans | |
Allowance for Credit Losses | 0 |
Impact of adopting ASC 326 | 0 |
Allosance for Credit Losses after Impact of adopting ASC 326 | 169 |
Provision for Credit Losses | 140 |
Charge-offs | (49) |
Recoveries | 7 |
Allowance for Credit Losses | 267 |
Sales Finance Contracts | |
Allowance for Credit Losses | 0 |
Impact of adopting ASC 326 | 0 |
Allosance for Credit Losses after Impact of adopting ASC 326 | 3,511 |
Provision for Credit Losses | 5,449 |
Charge-offs | (4,275) |
Recoveries | 940 |
Allowance for Credit Losses | 5,625 |
Allowance for Credit Losses | 53,000 |
Impact of adopting ASC 326 | 2,158 |
Allosance for Credit Losses after Impact of adopting ASC 326 | 55,158 |
Provision for Credit Losses | 56,690 |
Charge-offs | (63,347) |
Recoveries | 17,827 |
Allowance for Credit Losses | $ 66,328 |
2. LOANS_ Schedule of Allowan_2
2. LOANS: Schedule of Allowance for loan losses on a collectively evaluated, single portfolio segment basis (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Details | ||
Allowance for Loan Losses, Starting Balance | $ 43,000,000 | $ 42,500,000 |
Provision for Loan Losses | 59,695,588 | 39,207,197 |
Charge-Offs | (66,682,422) | (53,570,647) |
Recoveries | 16,986,534 | 14,863,450 |
Allowance for Loan Losses, Ending Balance | 53,000,000 | 43,000,000 |
Finance Receivables, Ending Balance | $ 840,458,743 | $ 729,783,655 |
2. LOANS_ Schedule of Small h_2
2. LOANS: Schedule of Small homogeneous consumer loans (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Principal Balance | $ 917,441,698 | $ 840,458,743 |
% Portfolio | 100.00% | 100.00% |
Net Charge Offs | $ 45,519,971 | $ 49,695,888 |
% Net Charge Offs | 100.00% | 100.00% |
Cosumer Loans | ||
Principal Balance | $ 775,713,298 | $ 734,556,902 |
% Portfolio | 84.50% | 87.40% |
Net Charge Offs | $ 42,142,861 | $ 47,227,395 |
% Net Charge Offs | 92.60% | 95.00% |
Real Estate Loans | ||
Principal Balance | $ 39,293,179 | $ 36,595,931 |
% Portfolio | 4.30% | 4.40% |
Net Charge Offs | $ 41,751 | $ 40,279 |
% Net Charge Offs | 0.10% | 0.10% |
Sales Finance Contracts | ||
Principal Balance | $ 102,435,221 | $ 69,305,910 |
% Portfolio | 11.20% | 8.20% |
Net Charge Offs | $ 3,335,359 | $ 2,428,214 |
% Net Charge Offs | 7.30% | 4.90% |
2. LOANS_ Troubled Debt Restr_2
2. LOANS: Troubled Debt Restructurings on Financing Receivables (Details) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Year 2016 | |
Financing Receivable, Modifications, Number of Contracts | 14,960 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 53,429,526 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 50,752,882 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 3,801 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 7,755,585 |
Year 2016 | Live Check Consumer Loans | |
Financing Receivable, Modifications, Number of Contracts | 2,127 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 3,688,912 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 3,588,117 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 787 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 1,248,879 |
Year 2016 | Premier Consumer Loans | |
Financing Receivable, Modifications, Number of Contracts | 485 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 3,185,328 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 3,090,506 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 92 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 480,080 |
Year 2016 | Other Consumer Loans | |
Financing Receivable, Modifications, Number of Contracts | 11,463 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 41,709,966 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 39,405,511 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 2,735 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 5,523,962 |
Year 2016 | Real Estate Loans | |
Financing Receivable, Modifications, Number of Contracts | 39 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 465,759 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 453,611 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 4 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 27,476 |
Year 2016 | Sales Finance Contracts | |
Financing Receivable, Modifications, Number of Contracts | 846 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 4,379,561 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 4,215,137 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 183 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 475,188 |
Year 2015 | |
Financing Receivable, Modifications, Number of Contracts | 19,600 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 59,122,933 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 56,655,858 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 6,076 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 11,129,200 |
Year 2015 | Real Estate Loans | |
Financing Receivable, Modifications, Number of Contracts | 50 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 698,205 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 695,693 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 |
Year 2015 | Sales Finance Contracts | |
Financing Receivable, Modifications, Number of Contracts | 870 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 3,226,704 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 3,086,441 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 222 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 546,101 |
Year 2015 | Cosumer Loans | |
Financing Receivable, Modifications, Number of Contracts | 18,680 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 55,198,024 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 52,873,724 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 5,854 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 10,583,099 |
Year 2014 | |
Financing Receivable, Modifications, Number of Contracts | 17,209 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 44,782,150 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 43,300,119 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 4,770 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 7,673,790 |
Year 2014 | Real Estate Loans | |
Financing Receivable, Modifications, Number of Contracts | 51 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 468,208 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 458,496 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 4,233 |
Year 2014 | Sales Finance Contracts | |
Financing Receivable, Modifications, Number of Contracts | 685 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 1,742,532 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,671,991 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 144 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 304,882 |
Year 2014 | Cosumer Loans | |
Financing Receivable, Modifications, Number of Contracts | 16,473 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 42,571,410 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 41,169,632 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 4,625 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 7,364,675 |
3. INVESTMENT SECURITIES (Detai
3. INVESTMENT SECURITIES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Available for Sale Securities, Basis for Valuation | Investment securities available for sale are carried at estimated fair market value. | |
Proceeds from Sale of Securities, Operating Activities | $ 14,873,211 | |
Proceeds from redemptions of investment securities due to the exercise of call provisions by the issuers thereof | 9,545,000 | |
Gross Gains realized from Proceeds from redemptions of investment securities due to the exercise of call provisions by the issuers thereof | $ 38,130 |
3. INVESTMENT SECURITIES_ Ava_2
3. INVESTMENT SECURITIES: Available-for-sale Securities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Available-for-sale Securities, Amortized Cost Basis | $ 204,330,167 | $ 192,370,566 |
Available-for-sale Securities, Gross Unrealized Gain | 16,725,273 | 12,111,048 |
Available-for-sale Securities, Gross Unrealized Loss | (1,022) | (24,092) |
Available-for-sale Securities, Estimated Fair Value | 221,054,418 | 204,457,522 |
US States and Political Subdivisions Debt Securities | ||
Available-for-sale Securities, Amortized Cost Basis | 204,199,851 | 192,240,250 |
Available-for-sale Securities, Gross Unrealized Gain | 16,464,476 | 11,796,039 |
Available-for-sale Securities, Gross Unrealized Loss | (1,022) | (24,092) |
Available-for-sale Securities, Estimated Fair Value | 220,663,305 | 204,012,197 |
Corporate Debt Securities | ||
Available-for-sale Securities, Amortized Cost Basis | 130,316 | 130,316 |
Available-for-sale Securities, Gross Unrealized Gain | 260,797 | 315,009 |
Available-for-sale Securities, Gross Unrealized Loss | 0 | 0 |
Available-for-sale Securities, Estimated Fair Value | $ 391,113 | $ 445,325 |
3. INVESTMENT SECURITIES_ Hel_2
3. INVESTMENT SECURITIES: Held-to-maturity Securities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | |
Held to Maturity, at amortized cost | [1] | $ 379,002 | $ 380,561 |
US States and Political Subdivisions Debt Securities | |||
Held to Maturity, at amortized cost | 379,002 | 380,561 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 1,848 | 8,959 | |
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | 0 | |
Debt Securities, Held-to-maturity, Fair Value | $ 380,850 | $ 389,520 | |
[1] | See Note 3. |
3. INVESTMENT SECURITIES_ Inv_2
3. INVESTMENT SECURITIES: Investments Classified by Contractual Maturity Date (Details) | Dec. 31, 2020USD ($) |
Details | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $ 971,354 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 1,234,597 |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | 0 |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 5,668,206 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 5,781,356 |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 379,002 |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 380,850 |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 22,551,147 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 23,863,176 |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 0 |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 0 |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 175,139,460 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 190,175,289 |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 |
Available-for-sale Securities, Debt Maturities, Amortized Cost | 204,330,167 |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 221,054,418 |
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Amortized Cost | 379,002 |
Held-to-maturity Securities, Debt Maturities, Fair Value | $ 380,850 |
3. INVESTMENT SECURITIES_ Sch_2
3. INVESTMENT SECURITIES: Schedule of Investment Securities, Fair Value and Unrealized Losses (Details) - US States and Political Subdivisions Debt Securities - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 920,927 | $ 1,206,656 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (1,022) | (18,941) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 986,642 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | $ 0 | $ (5,151) |
4. FAIR VALUE_ Fair Value Mea_2
4. FAIR VALUE: Fair Value Measurements, by Fair Value hierarchy (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Corporate Debt Securities | ||
Investments, Fair Value Disclosure | $ 391,113 | $ 445,325 |
US States and Political Subdivisions Debt Securities | ||
Investments, Fair Value Disclosure | 220,663,305 | 204,012,195 |
Investments, Fair Value Disclosure | 221,054,418 | 204,457,520 |
Fair Value, Inputs, Level 1 | Corporate Debt Securities | ||
Investments, Fair Value Disclosure | 391,113 | 445,325 |
Fair Value, Inputs, Level 1 | US States and Political Subdivisions Debt Securities | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | ||
Investments, Fair Value Disclosure | 391,113 | 445,325 |
Fair Value, Inputs, Level 2 | Corporate Debt Securities | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 | US States and Political Subdivisions Debt Securities | ||
Investments, Fair Value Disclosure | 220,663,305 | 204,012,195 |
Fair Value, Inputs, Level 2 | ||
Investments, Fair Value Disclosure | 220,663,305 | 204,012,195 |
Fair Value, Inputs, Level 3 | Corporate Debt Securities | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 | US States and Political Subdivisions Debt Securities | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 | ||
Investments, Fair Value Disclosure | $ 0 | $ 0 |
5. INSURANCE SUBSIDIARY RESTR_2
5. INSURANCE SUBSIDIARY RESTRICTIONS (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Percentage of Cash and cash equivalents and investment securities were maintained in the Company's insurance subsidiaries | 97.00% | 98.00% |
Frandisco Property and Casualty Insurance Company | ||
Statutory Accounting Practices, Statutory Capital and Surplus Required | $ 110.8 | |
Frandisco Life Insurance Company | ||
Statutory Accounting Practices, Statutory Capital and Surplus Required | $ 86.6 |
6. SENIOR DEBT (Details)
6. SENIOR DEBT (Details) - Senior Debt Obligations - Wells Fargo Preferred Capital, Inc. - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Line of Credit Facility, Initiation Date | Sep. 11, 2009 | |
Line of Credit Facility, Borrowing Capacity, Description | As amended to date, the credit agreement provides for borrowings and reborrowing’s of up to $230.0 million, subject to certain limitations, and all borrowings are secured by the finance receivables of the Company | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 230 | |
Line of Credit Facility, Covenant Terms | The credit agreement contains covenants customary for financing transactions of this type | |
Line of Credit Facility, Current Borrowing Capacity | $ 111.1 | $ 88.7 |
Line of Credit Facility, Interest Rate During Period | 3.50% | 4.45% |
Line of Credit Facility, Commitment Fee Description | Available but unborrowed amounts under the credit agreement are subject to a periodic unused line fee of .50% | |
Line of Credit Facility, Interest Rate Description | The interest rate under the credit agreement is equivalent to the greater of (a) .75% per annum plus the Applicable Margin or (b) the one month London Interbank Offered Rate (the “LIBOR Rate”) plus the Applicable Margin. The LIBOR Rate is adjusted on the first day of each calendar month based upon the LIBOR Rate as of the last day of the preceding calendar month. | |
Line of Credit Facility, Expiration Date | Feb. 28, 2022 |
6. SENIOR DEBT_ Schedule of S_2
6. SENIOR DEBT: Schedule of Senior Debt (Details) - Senior Notes - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt, Weighted Average Interest Rate | 3.25% | 3.45% | 3.19% |
Short-term Debt, Maximum Amount Outstanding During Period | $ 636,784 | $ 590,205 | $ 499,666 |
Short-term Debt, Average Outstanding Amount | $ 593,871 | $ 536,402 | $ 445,628 |
Debt, Weighted Average Interest Rate during period | 3.42% | 3.48% | 2.92% |
Bank Borrowings | |||
Debt, Weighted Average Interest Rate | 3.50% | 4.45% | 5.74% |
Short-term Debt, Maximum Amount Outstanding During Period | $ 123,256 | $ 111,350 | $ 53,180 |
Short-term Debt, Average Outstanding Amount | $ 104,206 | $ 73,307 | $ 6,999 |
Debt, Weighted Average Interest Rate during period | 4.38% | 5.60% | 5.21% |
Senior Demand Notes | |||
Debt, Weighted Average Interest Rate | 1.90% | 1.89% | 1.64% |
Short-term Debt, Maximum Amount Outstanding During Period | $ 87,413 | $ 76,204 | $ 77,731 |
Short-term Debt, Average Outstanding Amount | $ 82,509 | $ 73,498 | $ 74,267 |
Debt, Weighted Average Interest Rate during period | 1.90% | 1.87% | 1.52% |
Commercial Paper | |||
Debt, Weighted Average Interest Rate | 3.45% | 3.47% | 3.13% |
Short-term Debt, Maximum Amount Outstanding During Period | $ 431,314 | $ 402,651 | $ 373,167 |
Short-term Debt, Average Outstanding Amount | $ 407,156 | $ 389,597 | $ 364,362 |
Debt, Weighted Average Interest Rate during period | 3.48% | 3.38% | 3.01% |
7. SUBORDINATED DEBT (Details)
7. SUBORDINATED DEBT (Details) - Subordinated Debt | 12 Months Ended |
Dec. 31, 2020 | |
Long-term Debt, Description | Subordinated debt consists of Variable Rate Subordinated Debentures issued from time to time by the Company, and which mature four years after their date of issue |
Debt Instrument, Maturity Date, Description | The maturity date is automatically extended for an additional four year term unless the holder or the Company redeems the debenture on its original maturity date or within any applicable grace period thereafter |
Debt Instrument, Interest Rate Terms | . Interest rates on the debentures automatically adjust at the end of each adjustment period. |
Debt Instrument, Call Feature | The Company may redeem the debentures for a price equal to 100% of the principal plus accrued but unpaid interest upon 30 days’ notice to the holder |
7. SUBORDINATED DEBT_ Schedul_2
7. SUBORDINATED DEBT: Schedule of Subordinated Debt Interest Rates (Details) - Subordinated Debt | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt, Weighted Average Interest Rate | 3.10% | 2.96% | 2.70% |
Debt, Weighted Average Interest Rate during period | 3.01% | 2.81% | 2.66% |
7. SUBORDINATED DEBT_ Maturit_2
7. SUBORDINATED DEBT: Maturity and redemption information relating to Subordinated Debt (Details) - Subordinated Debt | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Based on Maturity Date | |
Amount Maturing or Redeemable at Option of Holder | $ 30,075,399 |
Based on Maturity Date | 2021 | |
Amount Maturing or Redeemable at Option of Holder | 6,068,119 |
Based on Maturity Date | 2022 | |
Amount Maturing or Redeemable at Option of Holder | 5,219,163 |
Based on Maturity Date | 2023 | |
Amount Maturing or Redeemable at Option of Holder | 9,010,098 |
Based on Maturity Date | 2024 | |
Amount Maturing or Redeemable at Option of Holder | 9,778,019 |
Based on Interest Adjustment Period | |
Amount Maturing or Redeemable at Option of Holder | 30,075,399 |
Based on Interest Adjustment Period | 2021 | |
Amount Maturing or Redeemable at Option of Holder | 16,410,974 |
Based on Interest Adjustment Period | 2022 | |
Amount Maturing or Redeemable at Option of Holder | 7,405,587 |
Based on Interest Adjustment Period | 2023 | |
Amount Maturing or Redeemable at Option of Holder | 2,940,375 |
Based on Interest Adjustment Period | 2024 | |
Amount Maturing or Redeemable at Option of Holder | $ 3,318,463 |
8. LEASES_ Schedule of lease _2
8. LEASES: Schedule of lease expense and other information related to Operating Leases (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating lease expense | $ 7,226,361 | $ 6,721,970 |
Operating cash flows from operating leases | $ 7,055,046 | $ 6,564,569 |
Weighted-average remaining lease term –operating leases (in years) | 7 years 25 days | 6 years 10 months 10 days |
Weighted-average discount rate –operating leases | 4.92% | 5.67% |
Lease Maturity | $ 40,196,270 | $ 38,127,700 |
Lease Maturity, Interest | (6,033,117) | (6,472,138) |
Present Value of Lease Liability | 34,163,153 | 31,655,562 |
2021 | ||
Lease Maturity | 6,982,155 | 6,823,468 |
2022 | ||
Lease Maturity | 6,444,448 | 6,152,783 |
2023 | ||
Lease Maturity | 5,577,917 | 5,556,754 |
2024 | ||
Lease Maturity | 4,846,460 | 4,737,533 |
2025 | ||
Lease Maturity | 4,489,926 | 4,008,787 |
2026 and beyond | ||
Lease Maturity | $ 11,855,364 | $ 10,848,375 |
10. EMPLOYEE BENEFIT PLANS (Det
10. EMPLOYEE BENEFIT PLANS (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | |||
Retirement Benefits, Description | The Company maintains a 401(k) plan, which is qualified under Section 401(a) and Section 401(k) of the Internal Revenue Code of 1986 (the “Code”), as amended, to cover employees of the Company. | ||
Defined Contribution Plan, Description | Any employee who is 18 years of age or older is eligible to participate in the 401(k) plan on the first day of the month following the completion of one complete calendar month of continuous employment and the Company begins matching up to 4.50% of an employee’s deferred contribution, up to 6.00% of their total compensation | ||
Payment for Pension and Other Postretirement Benefits | $ 2,505,468 | $ 2,482,686 | $ 2,273,130 |
11. RELATED PARTY TRANSACTIONS
11. RELATED PARTY TRANSACTIONS (Details) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Beneficial Owner, David W. Cheek | |
Related Party Transaction, Description of Transaction | outstanding loan to a real estate development partnership |
Accounts Payable, Related Parties, Current | $ 1,741,502 |
Trustee of an executive officer's irrevocable life insurance trust | |
Related Party Transaction, Description of Transaction | Effective September 23, 1995, the Company entered into a Split-Dollar Life Insurance Agreement with the Trustee of an executive officer’s irrevocable life insurance trust |
Accounts Payable, Related Parties, Current | $ 434,550 |
12. INCOME TAXES_ Schedule of_2
12. INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | |||
Current Federal Tax Expense (Benefit) | $ 3,024,953 | $ 3,207,966 | $ 2,689,220 |
Current State and Local Tax Expense (Benefit) | 205,779 | 126,466 | 0 |
Current Income Tax Expense (Benefit) | 3,230,732 | 3,334,432 | 2,689,220 |
Deferred Federal Income Tax Expense (Benefit) | 156,075 | 444,780 | 522,773 |
Other Income Tax Expense (Benefit), Continuing Operations | $ 3,386,807 | $ 3,779,212 | $ 3,211,993 |
12. INCOME TAXES_ Schedule of_3
12. INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Deferred Tax Assets (Liabilities), Insurance Commissions | $ (4,459,805) | $ (4,284,082) |
Deferred Tax Assets (Liabilities), Unearned Premium Reserves | 1,937,163 | 1,848,978 |
Deferred Acquisition Cost Amortization | (1,336,728) | (1,221,520) |
SPAE Capitalization | 27,107 | 32,616 |
STAT & Tax Reserve | 551,919 | 502,808 |
GAAP/STAT Premium Tax | (205,280) | (201,996) |
Deferred Tax Assets (Liabilities), Unrealized Gain on Marketable Debt Securities | (3,457,325) | (2,472,109) |
Deferred Tax Liabilities, Other | (53,948) | (60,301) |
Deferred Tax Liabilities, Net | $ (6,996,897) | $ (5,855,606) |
12. INCOME TAXES_ Schedule of_4
12. INCOME TAXES: Schedule of Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% |
Tax Reform Act Impact | 0.00% | 0.00% | 0.00% |
Tax effect of S corporation status | 1.00% | 6.70% | (0.40%) |
Tax exempt income | (5.50%) | (6.40%) | (5.10%) |
Miscellaneous | 1.10% | 0.80% | 0.10% |
Effective Income Tax Rate Reconciliation, Percent | 17.60% | 22.10% | 15.60% |
13. SEGMENT FINANCIAL INFORMA_3
13. SEGMENT FINANCIAL INFORMATION: Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Revenues | ||||
Segment Reporting, Finance Charges Earned | $ 213,000 | $ 200,400 | $ 172,700 | |
Segment Reporting, Insurance Income | 40,100 | 41,700 | 37,100 | |
Segment Reporting, Other Income | 5,200 | 6,000 | 5,700 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 258,300 | 248,100 | 215,500 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 21,600 | 19,700 | 14,000 | |
Segment Reporting, Provision for Loan Losses | 45,500 | 49,700 | 38,600 | |
Segment Reporting, Depreciation | 3,400 | 3,400 | 3,200 | |
Segment Reporting, Other Expenses | 97,800 | 96,100 | 88,500 | |
Segment Reporting, Total Expenses | 168,300 | 168,900 | 144,300 | |
Segment Reporting, Profit | 90,000 | 79,200 | 71,200 | |
Assets | ||||
Segment Reporting, Net Receivables | 758,800 | 697,400 | 610,000 | |
Segment Reporting, Cash | 3,900 | 2,300 | 2,600 | |
Segment Reporting, Net fixed assets | 8,400 | 9,100 | 7,900 | |
Segment Reporting, Other assets | 33,600 | 31,600 | 600 | |
Segment Reporting Information, Net Assets | 804,700 | 740,400 | 621,100 | |
Segment Reconciliation, Total revenues from reportable segments | 258,300 | 248,100 | 215,500 | |
Segment Reconciliation, Corporate finance charges earned not allocated to segments | 100 | 100 | 100 | |
Corporate investment income earned not allocated to segments | 6,900 | 7,400 | 7,200 | |
Segment Reconciliation, Timing difference of insurance income allocation to segments | 97 | 7,700 | 7,200 | |
Segment Reconciliation, Other revenues not allocated to segments | 2,000 | 0 | 100 | |
Segment Reconciliation, Consolidated Revenues | [1] | 275,200 | 263,300 | 230,100 |
Net Income (Loss) Attributable to Parent | ||||
Segment Reconciliation, Total profit or loss for reportable segments | 90,000 | 79,200 | 71,200 | |
Segment Reconciliation, Corporate earnings not allocated | 16,800 | 15,200 | 14,500 | |
Segment Reconciliation, Corporate expenses not allocated | (87,500) | (77,300) | (65,200) | |
Segment Reconciliation, Consolidated Income Before Income Taxes | 19,300 | 17,100 | 20,500 | |
Segment Reconciliation, Total assets for reportable segments | 804,700 | 740,400 | 621,100 | |
Segment Reconciliation, Loans held at corporate level | 2,200 | 2,400 | 2,400 | |
Segment Reconciliation, Unearned insurance at corporate levelvel | (33,800) | (31,600) | (27,300) | |
Segment Reconciliation, Allowance for loan losses at corporate level | (66,300) | (53,000) | (43,000) | |
Segment Reconciliation, Cash and cash equivalents held at corporate level | 63,800 | 56,100 | 11,400 | |
Segment Reconciliation, Investment securities at corporate level | 221,400 | 204,900 | 213,000 | |
Segment Reconciliation, Fixed assets at corporate level | 5,100 | 6,300 | 7,500 | |
Segment Reconciliation, Other assets at corporate level | 16,600 | 13,700 | 11,300 | |
Segment Reconciliation, Consolidated Assets | 1,013,700 | 939,200 | 796,400 | |
Division I | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 33,400 | 32,300 | 26,200 | |
Segment Reporting, Insurance Income | 4,800 | 5,300 | 4,400 | |
Segment Reporting, Other Income | 100 | 100 | 100 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 38,300 | 37,700 | 30,700 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 3,000 | 2,800 | 1,900 | |
Segment Reporting, Provision for Loan Losses | 8,500 | 8,400 | 5,400 | |
Segment Reporting, Depreciation | 400 | 500 | 500 | |
Segment Reporting, Other Expenses | 13,500 | 13,300 | 12,600 | |
Segment Reporting, Total Expenses | 25,400 | 25,000 | 20,400 | |
Segment Reporting, Profit | 12,900 | 12,700 | 10,300 | |
Assets | ||||
Segment Reporting, Net Receivables | 102,600 | 100,300 | 85,000 | |
Segment Reporting, Cash | 500 | 200 | 300 | |
Segment Reporting, Net fixed assets | 700 | 1,000 | 1,000 | |
Segment Reporting, Other assets | 3,200 | 3,500 | 0 | |
Segment Reporting Information, Net Assets | 107,000 | 105,000 | 86,300 | |
Division II | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 28,600 | 29,000 | 26,300 | |
Segment Reporting, Insurance Income | 6,700 | 6,800 | 6,000 | |
Segment Reporting, Other Income | 800 | 1,100 | 1,000 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 36,100 | 36,900 | 33,300 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 3,100 | 3,000 | 2,200 | |
Segment Reporting, Provision for Loan Losses | 4,700 | 6,100 | 4,900 | |
Segment Reporting, Depreciation | 400 | 400 | 500 | |
Segment Reporting, Other Expenses | 12,800 | 12,800 | 12,200 | |
Segment Reporting, Total Expenses | 21,000 | 22,300 | 19,800 | |
Segment Reporting, Profit | 15,100 | 14,600 | 13,500 | |
Assets | ||||
Segment Reporting, Net Receivables | 106,200 | 103,100 | 95,300 | |
Segment Reporting, Cash | 500 | 300 | 400 | |
Segment Reporting, Net fixed assets | 800 | 1,000 | 1,100 | |
Segment Reporting, Other assets | 4,600 | 4,800 | 0 | |
Segment Reporting Information, Net Assets | 112,100 | 109,200 | 96,800 | |
Division III | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 30,300 | 26,900 | 24,500 | |
Segment Reporting, Insurance Income | 8,300 | 8,100 | 7,600 | |
Segment Reporting, Other Income | 1,000 | 1,000 | 1,100 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 39,600 | 36,000 | 33,200 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 3,200 | 2,800 | 2,100 | |
Segment Reporting, Provision for Loan Losses | 6,000 | 5,900 | 5,400 | |
Segment Reporting, Depreciation | 300 | 300 | 300 | |
Segment Reporting, Other Expenses | 12,900 | 12,500 | 12,000 | |
Segment Reporting, Total Expenses | 22,400 | 21,500 | 19,800 | |
Segment Reporting, Profit | 17,200 | 14,500 | 13,400 | |
Assets | ||||
Segment Reporting, Net Receivables | 111,300 | 99,400 | 88,200 | |
Segment Reporting, Cash | 700 | 400 | 400 | |
Segment Reporting, Net fixed assets | 900 | 700 | 700 | |
Segment Reporting, Other assets | 4,300 | 3,400 | 100 | |
Segment Reporting Information, Net Assets | 117,200 | 103,900 | 89,400 | |
Division IV | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 34,000 | 32,400 | 29,700 | |
Segment Reporting, Insurance Income | 4,200 | 4,400 | 4,200 | |
Segment Reporting, Other Income | 1,100 | 1,100 | 1,000 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 39,300 | 37,900 | 34,900 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 3,600 | 3,300 | 2,500 | |
Segment Reporting, Provision for Loan Losses | 6,600 | 8,200 | 7,100 | |
Segment Reporting, Depreciation | 500 | 500 | 500 | |
Segment Reporting, Other Expenses | 14,300 | 14,200 | 13,200 | |
Segment Reporting, Total Expenses | 25,000 | 26,200 | 23,300 | |
Segment Reporting, Profit | 14,300 | 11,700 | 11,600 | |
Assets | ||||
Segment Reporting, Net Receivables | 128,900 | 116,400 | 105,400 | |
Segment Reporting, Cash | 600 | 400 | 400 | |
Segment Reporting, Net fixed assets | 1,400 | 1,400 | 1,400 | |
Segment Reporting, Other assets | 5,700 | 5,400 | 200 | |
Segment Reporting Information, Net Assets | 136,600 | 123,600 | 107,400 | |
Division V | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 21,500 | 19,000 | 17,000 | |
Segment Reporting, Insurance Income | 3,800 | 3,500 | 3,200 | |
Segment Reporting, Other Income | 600 | 700 | 600 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 25,900 | 23,200 | 20,800 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 2,000 | 1,800 | 1,300 | |
Segment Reporting, Provision for Loan Losses | 4,400 | 5,000 | 3,800 | |
Segment Reporting, Depreciation | 500 | 400 | 300 | |
Segment Reporting, Other Expenses | 10,400 | 10,300 | 9,500 | |
Segment Reporting, Total Expenses | 17,300 | 17,500 | 14,900 | |
Segment Reporting, Profit | 8,600 | 5,700 | 5,900 | |
Assets | ||||
Segment Reporting, Net Receivables | 71,300 | 63,200 | 55,000 | |
Segment Reporting, Cash | 500 | 300 | 300 | |
Segment Reporting, Net fixed assets | 1,600 | 1,600 | 900 | |
Segment Reporting, Other assets | 3,700 | 3,200 | 100 | |
Segment Reporting Information, Net Assets | 77,100 | 68,300 | 56,300 | |
Division VII | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 21,500 | 18,800 | 13,100 | |
Segment Reporting, Insurance Income | 3,200 | 3,200 | 2,500 | |
Segment Reporting, Other Income | 500 | 500 | 400 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 25,200 | 22,500 | 16,000 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 2,200 | 1,800 | 1,100 | |
Segment Reporting, Provision for Loan Losses | 5,900 | 5,900 | 3,800 | |
Segment Reporting, Depreciation | 500 | 400 | 300 | |
Segment Reporting, Other Expenses | 10,200 | 9,800 | 8,200 | |
Segment Reporting, Total Expenses | 18,800 | 17,900 | 13,400 | |
Segment Reporting, Profit | 6,400 | 4,600 | 2,600 | |
Assets | ||||
Segment Reporting, Net Receivables | 76,500 | 67,800 | 53,800 | |
Segment Reporting, Cash | 300 | 200 | 200 | |
Segment Reporting, Net fixed assets | 1,200 | 1,400 | 1,000 | |
Segment Reporting, Other assets | 4,300 | 3,700 | 0 | |
Segment Reporting Information, Net Assets | 82,300 | 73,100 | 55,000 | |
Division VIII | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 17,200 | 15,900 | 13,000 | |
Segment Reporting, Insurance Income | 3,800 | 3,700 | 3,000 | |
Segment Reporting, Other Income | 400 | 500 | 500 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 21,400 | 20,100 | 16,500 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 1,700 | 1,500 | 1,000 | |
Segment Reporting, Provision for Loan Losses | 4,500 | 4,100 | 3,100 | |
Segment Reporting, Depreciation | 300 | 400 | 300 | |
Segment Reporting, Other Expenses | 10,600 | 10,100 | 8,800 | |
Segment Reporting, Total Expenses | 17,100 | 16,100 | 13,200 | |
Segment Reporting, Profit | 4,300 | 4,000 | 3,300 | |
Assets | ||||
Segment Reporting, Net Receivables | 64,700 | 54,800 | 44,400 | |
Segment Reporting, Cash | 400 | 200 | 300 | |
Segment Reporting, Net fixed assets | 900 | 900 | 700 | |
Segment Reporting, Other assets | 3,300 | 3,200 | 100 | |
Segment Reporting Information, Net Assets | 69,300 | 59,100 | 45,500 | |
Division IX | ||||
Revenues | ||||
Segment Reporting, Finance Charges Earned | 26,500 | 26,100 | 22,900 | |
Segment Reporting, Insurance Income | 5,300 | 6,700 | 6,200 | |
Segment Reporting, Other Income | 700 | 1,000 | 1,000 | |
Represents the monetary amount of SegmentReportingInformationRevenue1, during the indicated time period. | 32,500 | 33,800 | 30,100 | |
Operating Costs and Expenses | ||||
Segment Reporting, Interest Cost | 2,800 | 2,700 | 1,900 | |
Segment Reporting, Provision for Loan Losses | 4,900 | 6,100 | 5,100 | |
Segment Reporting, Depreciation | 500 | 500 | 500 | |
Segment Reporting, Other Expenses | 13,100 | 13,100 | 12,000 | |
Segment Reporting, Total Expenses | 21,300 | 22,400 | 19,500 | |
Segment Reporting, Profit | 11,200 | 11,400 | 10,600 | |
Assets | ||||
Segment Reporting, Net Receivables | 97,300 | 92,400 | 82,900 | |
Segment Reporting, Cash | 400 | 300 | 300 | |
Segment Reporting, Net fixed assets | 900 | 1,100 | 1,100 | |
Segment Reporting, Other assets | 4,500 | 4,400 | 100 | |
Segment Reporting Information, Net Assets | $ 103,100 | $ 98,200 | $ 84,400 | |
[1] | Includes Finance Charge Income, Investment Income, Insurance Premium Revenues and Other Revenue. |