|
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| ASSETS |
|
|
| Cash and cash equivalents |
$ 22,112 |
$ 12,966 |
| Restricted cash and equivalents |
132,284 |
104,445 |
| Finance receivables |
1,155,063 |
764,343 |
| Less: Allowance for finance credit losses |
(39,626) |
(19,594) |
| Finance receivables, net |
1,115,437 |
744,749 |
| Finance receivables measured at fair value |
14,476 |
59,668 |
| Residual interest in securitizations |
854 |
4,824 |
| Furniture and equipment, net |
766 |
726 |
| Deferred financing costs |
11,071 |
9,140 |
| Deferred tax assets, net |
59,215 |
75,640 |
| Accrued interest receivable |
18,670 |
10,411 |
| Other assets |
21,481 |
15,051 |
| Total |
1,396,366 |
1,037,620 |
| Liabilities |
|
|
| Accounts payable and accrued expenses |
24,839 |
17,785 |
| Warehouse lines of credit |
9,452 |
21,731 |
| Residual interest financing |
19,096 |
13,773 |
| Debt secured by receivables measured at fair value |
13,117 |
57,107 |
| Securitization trust debt |
1,177,559 |
792,497 |
| Senior secured debt, related party |
38,559 |
50,135 |
| Subordinated renewable notes |
19,142 |
23,281 |
| Total |
1,301,764 |
976,309 |
| COMMITMENTS AND CONTINGENCIES |
|
|
| Shareholders' Equity |
|
|
| Common stock, no par value; authorized 75,000,000 shares; 24,015,585 and 19,838,913 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively |
73,422 |
65,678 |
| Retained earnings |
22,275 |
1,270 |
| Accumulated other comprehensive loss |
(1,095) |
(5,637) |
| Total |
94,602 |
61,311 |
| Total |
1,396,366 |
1,037,620 |
|
Series A Preferred Stock [Member]
|
|
|
| Shareholders' Equity |
|
|
| Preferred stock, $1 par value; authorized 4,998,130 shares; none issued Series A preferred stock, $1 par value; authorized 5,000,000 shares; none issued Series B preferred stock, $1 par value; authorized 1,870 shares; none issued |
0 |
0 |
|
Series B Preferred Stock [Member]
|
|
|
| Shareholders' Equity |
|
|
| Preferred stock, $1 par value; authorized 4,998,130 shares; none issued Series A preferred stock, $1 par value; authorized 5,000,000 shares; none issued Series B preferred stock, $1 par value; authorized 1,870 shares; none issued |
$ 0 |
$ 0 |