Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 6-May-15 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | RM | |
Entity Registrant Name | Regional Management Corp. | |
Entity Central Index Key | 1519401 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 12,872,540 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash | $2,060 | $4,012 |
Gross finance receivables | 638,809 | 663,432 |
Less unearned finance charges, insurance premiums, and commissions | -112,902 | -117,240 |
Finance receivables | 525,907 | 546,192 |
Allowance for credit losses | -36,950 | -40,511 |
Net finance receivables | 488,957 | 505,681 |
Property and equipment, net of accumulated depreciation | 8,211 | 8,905 |
Deferred tax asset, net | 1,372 | 1,870 |
Repossessed assets at net realizable value | 400 | 556 |
Goodwill | 716 | 716 |
Intangible assets, net | 745 | 847 |
Other assets | 5,281 | 7,683 |
Total assets | 507,742 | 530,270 |
Liabilities: | ||
Senior revolving credit facility | 312,538 | 341,419 |
Accounts payable and accrued expenses | 10,905 | 10,528 |
Total liabilities | 323,443 | 351,947 |
Commitments and Contingencies | ||
Stockholders' equity: | ||
Preferred stock, $0.10 par value, 100,000 shares authorized, no shares issued or outstanding | ||
Common stock, $0.10 par value, 1,000,000 shares authorized, 12,848 and 12,748 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively | 1,285 | 1,275 |
Additional paid-in-capital | 87,538 | 85,655 |
Retained earnings | 95,476 | 91,393 |
Total stockholders' equity | 184,299 | 178,323 |
Total liabilities and stockholders' equity | $507,742 | $530,270 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $0.10 | $0.10 |
Preferred stock, shares authorized | 100,000 | 100,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.10 | $0.10 |
Common stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, shares issued | 12,848 | 12,748 |
Common stock, shares outstanding | 12,848 | 12,748 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenue | ||
Interest and fee income | $47,065 | $44,080 |
Insurance income, net | 2,929 | 3,295 |
Other income | 2,530 | 2,206 |
Total revenue | 52,524 | 49,581 |
Expenses | ||
Provision for credit losses | 9,712 | 16,945 |
Personnel | 19,760 | 11,174 |
Occupancy | 4,125 | 3,420 |
Marketing | 2,471 | 982 |
Other | 6,267 | 4,322 |
Total general and administrative expenses | 32,623 | 19,898 |
Interest expense | 3,604 | 3,763 |
Income before income taxes | 6,585 | 8,975 |
Income taxes | 2,502 | 3,365 |
Net income | $4,083 | $5,610 |
Net income per common share: | ||
Basic | $0.32 | $0.44 |
Diluted | $0.31 | $0.43 |
Weighted average shares outstanding: | ||
Basic | 12,838 | 12,655 |
Diluted | 13,061 | 13,000 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Additional Paid-in-Capital [Member] | Retained Earnings [Member] |
In Thousands | ||||
Beginning Balance at Dec. 31, 2013 | $161,173 | $1,265 | $83,317 | $76,591 |
Issuance of restricted stock awards | 7 | -7 | ||
Exercise of stock options | 123 | 5 | 118 | |
Excess tax benefit from exercise of stock options | 161 | 161 | ||
Shares withheld related to net share settlement | -196 | -2 | -194 | |
Share-based compensation | 2,260 | 2,260 | ||
Net income | 14,802 | 14,802 | ||
Ending Balance at Dec. 31, 2014 | 178,323 | 1,275 | 85,655 | 91,393 |
Issuance of restricted stock awards, net of forfeiture | 9 | -9 | ||
Exercise of stock options | 4 | 4 | ||
Excess tax benefit from exercise of stock options | 26 | 26 | ||
Shares withheld related to net share settlement | -95 | -3 | -92 | |
Share-based compensation | 1,958 | 1,958 | ||
Net income | 4,083 | 4,083 | ||
Ending Balance at Mar. 31, 2015 | $184,299 | $1,285 | $87,538 | $95,476 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net income | $4,083 | $5,610 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 9,712 | 16,945 |
Depreciation and amortization | 863 | 1,001 |
Loss on disposal of property and equipment | 362 | |
Accretion of discounts on purchased receivables | -8 | -35 |
Share-based compensation | 1,906 | 201 |
Deferred income taxes, net | 498 | -851 |
Changes in operating assets and liabilities: | ||
Decrease in other assets | 2,433 | 185 |
Increase in other liabilities | 580 | 2,008 |
Net cash provided by operating activities | 20,429 | 25,064 |
Cash flows from investing activities: | ||
Net repayment of finance receivables | 7,020 | 30,276 |
Purchase of property and equipment | -303 | -950 |
Net cash provided by investing activities | 6,717 | 29,326 |
Cash flows from financing activities: | ||
Net payments on senior revolving credit facility | -28,881 | -52,435 |
Payments for debt issuance costs | -1 | -1 |
Proceeds from exercise of stock options | 90 | |
Excess tax benefits from exercise of stock options | 67 | 100 |
Taxes paid related to net share settlement of equity awards | -283 | |
Net cash used in financing activities | -29,098 | -52,246 |
Net change in cash | -1,952 | 2,144 |
Cash: | ||
Beginning | 4,012 | 4,121 |
Ending | 2,060 | 6,265 |
Supplemental Disclosure of Cash Flow Information | ||
Cash payments for interest | 3,478 | 3,612 |
Cash payments for income taxes | $320 | $604 |
Nature_of_Business
Nature of Business | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Nature of Business | Note 1. Nature of Business |
Regional Management Corp. (the “Company,” “we,” “us,” and “our”) was incorporated and began operations in 1987. The Company is engaged in the consumer finance business, offering small loans (branch small loans and convenience checks), large loans, automobile loans, retail loans, and related credit insurance. As of March 31, 2015, the Company operated offices in 306 locations in the states of Alabama (49 offices), Georgia (3 offices), New Mexico (13 offices), North Carolina (35 offices), Oklahoma (27 offices), South Carolina (70 offices), Tennessee (21 offices), and Texas (88 offices) under the names Regional Finance, RMC Financial Services, Anchor Finance, Superior Financial Services, First Community Credit, and Sun Finance. The Company opened 6 new offices during the three months ended March 31, 2015. | |
Seasonality: The Company’s loan volume and corresponding finance receivables follow seasonal trends. Demand for the Company’s loans is typically highest during the third and fourth quarter, largely due to customers borrowing money for back-to-school and holiday spending. Loan demand has generally been the lowest during the first quarter, largely due to the timing of income tax refunds. In addition, the Company typically generates higher loan volumes in the second half of the year from direct mail campaigns, which are timed to coincide with seasonal consumer demand. Consequently, we experience significant seasonal fluctuations in our operating results and cash needs. |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | Note 2. Basis of Presentation and Significant Accounting Policies |
Basis of presentation: The consolidated financial statements of the Company have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q adopted by the Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information, and, accordingly, do not include all information and note disclosures required by GAAP for complete financial statements. The interim financial statements in this Quarterly Report on Form 10-Q have not been audited by an independent registered public accounting firm in accordance with standards of the Public Company Accounting Oversight Board (U.S.), but in the opinion of management include all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Annual Report on Form 10-K for the year ended December 31, 2014 as filed with the SEC. | |
Significant accounting policies: The following is a description of significant accounting policies used in preparing the financial statements. The accounting and reporting policies of the Company are in accordance with GAAP and conform to general practices within the consumer finance industry. | |
Principles of consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company operates through a separate wholly-owned subsidiary in each state. | |
Use of estimates: The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and disclosure of contingent assets and liabilities for the periods indicated in the financial statements. Actual results could differ from those estimates. | |
Material estimates that are particularly susceptible to change relate to the determination of the allowance for credit losses, fair value of stock based compensation, the valuation of deferred tax assets and liabilities, and the allocation of the purchase price to assets acquired in business combinations. | |
Reclassifications: Certain prior period amounts have been reclassified to conform to the current presentation. Such reclassifications had no impact on previously reported net income or stockholders’ equity. |
Finance_Receivables_Allowance_
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information | Note 3. Finance Receivables, Allowance for Credit Losses, and Credit Quality Information | ||||||||||||||||||||||||||||||||||||||||||||||||
Finance receivables consisted of the following: | |||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 121,649 | $ | 128,217 | |||||||||||||||||||||||||||||||||||||||||||||
Convenience checks | 170,013 | 191,316 | |||||||||||||||||||||||||||||||||||||||||||||||
Large loans | 63,338 | 46,147 | |||||||||||||||||||||||||||||||||||||||||||||||
Automobile loans | 146,724 | 154,382 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail loans | 24,183 | 26,130 | |||||||||||||||||||||||||||||||||||||||||||||||
Finance receivables | $ | 525,907 | $ | 546,192 | |||||||||||||||||||||||||||||||||||||||||||||
Changes in the allowance for credit losses for the periods indicated are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 40,511 | $ | 30,089 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for credit losses | 9,712 | 16,945 | |||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (14,108 | ) | (13,098 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 835 | 389 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 36,950 | $ | 34,325 | |||||||||||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the allowance for credit losses by product for the periods indicated: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Provision | Charge-offs | Recoveries | Balance | Finance | Allowance as | |||||||||||||||||||||||||||||||||||||||||||
January 1, | March 31, | Receivables | Percentage of | ||||||||||||||||||||||||||||||||||||||||||||||
2015 | 2015 | March 31, | Finance Receivable | ||||||||||||||||||||||||||||||||||||||||||||||
2015 | March 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 6,960 | $ | 2,926 | $ | (3,333 | ) | $ | 197 | $ | 6,750 | $ | 121,649 | 5.5 | % | ||||||||||||||||||||||||||||||||||
Convenience checks | 18,320 | 1,708 | (6,527 | ) | 289 | 13,790 | 170,013 | 8.1 | % | ||||||||||||||||||||||||||||||||||||||||
Large loans | 1,980 | 1,578 | (512 | ) | 73 | 3,119 | 63,338 | 4.9 | % | ||||||||||||||||||||||||||||||||||||||||
Automobile loans | 11,776 | 3,120 | (3,304 | ) | 241 | 11,833 | 146,724 | 8.1 | % | ||||||||||||||||||||||||||||||||||||||||
Retail loans | 1,475 | 380 | (432 | ) | 35 | 1,458 | 24,183 | 6 | % | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 40,511 | $ | 9,712 | $ | (14,108 | ) | $ | 835 | $ | 36,950 | $ | 525,907 | 7 | % | ||||||||||||||||||||||||||||||||||
Balance | Provision | Charge-offs | Recoveries | Balance | Finance | Allowance as | |||||||||||||||||||||||||||||||||||||||||||
January 1, | March 31, | Receivables | Percentage of | ||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2014 | March 31, | Finance Receivable | ||||||||||||||||||||||||||||||||||||||||||||||
2014 | March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 5,166 | $ | 3,522 | $ | (2,763 | ) | $ | 109 | $ | 6,034 | $ | 100,031 | 6 | % | ||||||||||||||||||||||||||||||||||
Convenience checks | 10,204 | 8,114 | (5,975 | ) | 105 | 12,448 | 155,030 | 8 | % | ||||||||||||||||||||||||||||||||||||||||
Large loans | 2,233 | 330 | (501 | ) | 88 | 2,150 | 41,868 | 5.1 | % | ||||||||||||||||||||||||||||||||||||||||
Automobile loans | 10,827 | 4,145 | (3,151 | ) | 62 | 11,883 | 175,152 | 6.8 | % | ||||||||||||||||||||||||||||||||||||||||
Retail loans | 1,659 | 834 | (708 | ) | 25 | 1,810 | 29,653 | 6.1 | % | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 30,089 | $ | 16,945 | $ | (13,098 | ) | $ | 389 | $ | 34,325 | $ | 501,734 | 6.8 | % | ||||||||||||||||||||||||||||||||||
Finance receivables associated with customers in bankruptcy as a percentage of total finance receivables were 1.2% and 1.1% as of March 31, 2015 and December 31, 2014, respectively. The following is a summary of the finance receivables associated with customers in bankruptcy as of the periods indicated: | |||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 595 | $ | 582 | |||||||||||||||||||||||||||||||||||||||||||||
Convenience checks | 531 | 544 | |||||||||||||||||||||||||||||||||||||||||||||||
Large loans | 1,275 | 1,260 | |||||||||||||||||||||||||||||||||||||||||||||||
Automobile loans | 3,712 | 3,698 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail loans | 127 | 119 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 6,240 | $ | 6,203 | |||||||||||||||||||||||||||||||||||||||||||||
The contractual delinquency of the finance receivable portfolio by component for the periods indicated are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch Small | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Check | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||||||||||||||||||||
Current | $ | 99,398 | 81.7 | % | $ | 139,303 | 82 | % | $ | 54,919 | 86.7 | % | $ | 110,992 | 75.6 | % | $ | 20,476 | 84.7 | % | $ | 425,088 | 80.8 | % | |||||||||||||||||||||||||
1 to 29 days past due | 13,361 | 11 | % | 16,029 | 9.4 | % | 6,715 | 10.6 | % | 28,878 | 19.7 | % | 2,670 | 11 | % | 67,653 | 12.9 | % | |||||||||||||||||||||||||||||||
Delinquent accounts | |||||||||||||||||||||||||||||||||||||||||||||||||
30 to 59 days | 2,910 | 2.3 | % | 3,796 | 2.2 | % | 763 | 1.2 | % | 3,752 | 2.6 | % | 375 | 1.5 | % | 11,596 | 2.2 | % | |||||||||||||||||||||||||||||||
60 to 89 days | 2,022 | 1.7 | % | 2,772 | 1.6 | % | 421 | 0.7 | % | 1,421 | 1 | % | 188 | 0.8 | % | 6,824 | 1.3 | % | |||||||||||||||||||||||||||||||
90 to 119 days | 1,304 | 1.2 | % | 2,349 | 1.4 | % | 235 | 0.3 | % | 798 | 0.5 | % | 158 | 0.7 | % | 4,844 | 0.9 | % | |||||||||||||||||||||||||||||||
120 to 149 days | 1,379 | 1.1 | % | 2,571 | 1.5 | % | 159 | 0.3 | % | 620 | 0.4 | % | 152 | 0.6 | % | 4,881 | 0.9 | % | |||||||||||||||||||||||||||||||
150 to 179 days | 1,275 | 1 | % | 3,193 | 1.9 | % | 126 | 0.2 | % | 263 | 0.2 | % | 164 | 0.7 | % | 5,021 | 1 | % | |||||||||||||||||||||||||||||||
Total delinquency | $ | 8,890 | 7.3 | % | $ | 14,681 | 8.6 | % | $ | 1,704 | 2.7 | % | $ | 6,854 | 4.7 | % | $ | 1,037 | 4.3 | % | $ | 33,166 | 6.3 | % | |||||||||||||||||||||||||
Total finance receivables | $ | 121,649 | 100 | % | $ | 170,013 | 100 | % | $ | 63,338 | 100 | % | $ | 146,724 | 100 | % | $ | 24,183 | 100 | % | $ | 525,907 | 100 | % | |||||||||||||||||||||||||
Finance receivables in nonaccrual status | $ | 3,958 | 3.3 | % | $ | 8,113 | 4.8 | % | $ | 520 | 0.8 | % | $ | 1,681 | 1.1 | % | $ | 474 | 2 | % | $ | 14,746 | 2.8 | % | |||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch Small | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Check | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||||||||||||||||||||
Current | $ | 104,003 | 81.1 | % | $ | 154,833 | 80.9 | % | $ | 36,658 | 79.4 | % | $ | 105,424 | 68.3 | % | $ | 21,424 | 82 | % | $ | 422,342 | 77.4 | % | |||||||||||||||||||||||||
1 to 29 days past due | 13,967 | 10.9 | % | 19,318 | 10.1 | % | 7,383 | 16 | % | 38,656 | 25 | % | 3,390 | 13 | % | 82,714 | 15.1 | % | |||||||||||||||||||||||||||||||
Delinquent accounts | |||||||||||||||||||||||||||||||||||||||||||||||||
30 to 59 days | 3,647 | 2.8 | % | 5,134 | 2.7 | % | 1,036 | 2.3 | % | 5,651 | 3.7 | % | 483 | 1.8 | % | 15,951 | 2.9 | % | |||||||||||||||||||||||||||||||
60 to 89 days | 2,275 | 1.8 | % | 4,442 | 2.3 | % | 483 | 1 | % | 2,114 | 1.4 | % | 310 | 1.2 | % | 9,624 | 1.8 | % | |||||||||||||||||||||||||||||||
90 to 119 days | 1,857 | 1.4 | % | 3,312 | 1.8 | % | 263 | 0.6 | % | 1,266 | 0.8 | % | 201 | 0.8 | % | 6,899 | 1.2 | % | |||||||||||||||||||||||||||||||
120 to 149 days | 1,478 | 1.2 | % | 2,343 | 1.2 | % | 204 | 0.4 | % | 758 | 0.5 | % | 205 | 0.8 | % | 4,988 | 0.9 | % | |||||||||||||||||||||||||||||||
150 to 179 days | 990 | 0.8 | % | 1,934 | 1 | % | 120 | 0.3 | % | 513 | 0.3 | % | 117 | 0.4 | % | 3,674 | 0.7 | % | |||||||||||||||||||||||||||||||
Total delinquency | $ | 10,247 | 8 | % | $ | 17,165 | 9 | % | $ | 2,106 | 4.6 | % | $ | 10,302 | 6.7 | % | $ | 1,316 | 5 | % | $ | 41,136 | 7.5 | % | |||||||||||||||||||||||||
Total finance receivables | $ | 128,217 | 100 | % | $ | 191,316 | 100 | % | $ | 46,147 | 100 | % | $ | 154,382 | 100 | % | $ | 26,130 | 100 | % | $ | 546,192 | 100 | % | |||||||||||||||||||||||||
Finance receivables in nonaccrual status | $ | 4,325 | 3.4 | % | $ | 7,589 | 4 | % | $ | 587 | 1.3 | % | $ | 2,537 | 1.6 | % | $ | 523 | 2 | % | $ | 15,561 | 2.8 | % | |||||||||||||||||||||||||
Following is a summary of finance receivables evaluated for impairment for the periods indicated: | |||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Small | Check | ||||||||||||||||||||||||||||||||||||||||||||||||
Customers in Chapter 13 bankruptcy specifically evaluated | $ | 595 | $ | 531 | $ | 1,275 | $ | 3,712 | $ | 127 | $ | 6,240 | |||||||||||||||||||||||||||||||||||||
Finance receivables evaluated collectively | 121,054 | 169,482 | 62,063 | 143,012 | 24,056 | 519,667 | |||||||||||||||||||||||||||||||||||||||||||
Finance receivables outstanding | $ | 121,649 | $ | 170,013 | $ | 63,338 | $ | 146,724 | $ | 24,183 | $ | 525,907 | |||||||||||||||||||||||||||||||||||||
Accounts in bankruptcy in nonaccrual status | $ | 95 | $ | 104 | $ | 58 | $ | 213 | $ | 18 | $ | 488 | |||||||||||||||||||||||||||||||||||||
Amount of the specific reserve for impaired accounts | $ | 159 | $ | 140 | $ | 323 | $ | 998 | $ | 19 | $ | 1,639 | |||||||||||||||||||||||||||||||||||||
Average impaired accounts | $ | 592 | $ | 517 | $ | 1,265 | $ | 3,671 | $ | 122 | $ | 6,167 | |||||||||||||||||||||||||||||||||||||
Amount of the general component of the allowance | $ | 6,591 | $ | 13,650 | $ | 2,796 | $ | 10,835 | $ | 1,439 | $ | 35,311 | |||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Small | Check | ||||||||||||||||||||||||||||||||||||||||||||||||
Customers in Chapter 13 bankruptcy specifically evaluated | $ | 582 | $ | 544 | $ | 1,260 | $ | 3,698 | $ | 119 | $ | 6,203 | |||||||||||||||||||||||||||||||||||||
Finance receivables evaluated collectively | 127,635 | 190,772 | 44,887 | 150,684 | 26,011 | 539,989 | |||||||||||||||||||||||||||||||||||||||||||
Finance receivables outstanding | $ | 128,217 | $ | 191,316 | $ | 46,147 | $ | 154,382 | $ | 26,130 | $ | 546,192 | |||||||||||||||||||||||||||||||||||||
Accounts in bankruptcy in nonaccrual status | $ | 140 | $ | 159 | $ | 133 | $ | 559 | $ | 16 | $ | 1,007 | |||||||||||||||||||||||||||||||||||||
Amount of the specific reserve for impaired accounts | $ | 143 | $ | 165 | $ | 309 | $ | 981 | $ | 18 | $ | 1,616 | |||||||||||||||||||||||||||||||||||||
Average impaired accounts | $ | 1,097 | $ | 1,266 | $ | 1,616 | $ | 4,134 | $ | 235 | $ | 8,348 | |||||||||||||||||||||||||||||||||||||
Amount of the general component of the allowance | $ | 6,817 | $ | 18,155 | $ | 1,671 | $ | 10,795 | $ | 1,457 | $ | 38,895 | |||||||||||||||||||||||||||||||||||||
It is not practical to compute the amount of interest earned on impaired loans. |
Debt
Debt | 3 Months Ended |
Mar. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Note 4. Debt |
The Company’s senior revolving credit facility contains restrictive covenants. At March 31, 2015, the Company was in compliance with all debt covenants. As of March 31, 2015, the Company had $187,462 of unused capacity on the credit facility. Advances on this agreement are at 85% of eligible finance receivables and are subject to adjustment at certain credit quality levels (81% as of March 31, 2015). |
Disclosure_About_Fair_Value_of
Disclosure About Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Disclosure About Fair Value of Financial Instruments | Note 5. Disclosure About Fair Value of Financial Instruments: The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: | ||||||||||||||||
Finance receivables: Finance receivables are originated at prevailing market rates. The Company’s finance receivable portfolio turns approximately 1.6 times per year. The portfolio turnover is calculated by dividing cash payments and renewals by the average finance receivables. Management believes that the carrying value approximates the fair value of its finance receivable portfolio. | |||||||||||||||||
Repossessed assets: Repossessed assets are valued at the lower of the receivable balance on the finance receivable prior to repossession or the estimated net realizable value. The Company estimates net realizable value at the projected cash value upon liquidation, less costs to sell the related collateral. | |||||||||||||||||
Debt: The Company refinanced its senior revolving credit facility in January 2012, and further amended the senior revolving credit facility in July 2012, March 2013, May 2013, and November 2013. As a result of the refinancing, the Company believes that the fair value of this variable rate debt approximates its carrying value at March 31, 2015. The Company also considered its creditworthiness in its determination of fair value. | |||||||||||||||||
The carrying amount and estimated fair values of the Company’s financial instruments summarized by level are as follows: | |||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Assets | |||||||||||||||||
Level 1 inputs | |||||||||||||||||
Cash | $ | 2,060 | $ | 2,060 | $ | 4,012 | $ | 4,012 | |||||||||
Restricted cash | 1,900 | 1,900 | 1,900 | 1,900 | |||||||||||||
Level 3 inputs | |||||||||||||||||
Net finance receivables | 488,957 | 488,957 | 505,681 | 505,681 | |||||||||||||
Repossessed assets | 400 | 400 | 556 | 556 | |||||||||||||
Liabilities | |||||||||||||||||
Level 3 inputs | |||||||||||||||||
Senior revolving credit facility | 312,538 | 312,538 | 341,419 | 341,419 | |||||||||||||
Certain of the Company’s assets carried at fair value are classified and disclosed in one of the following three categories: | |||||||||||||||||
Level 1 – Quoted market prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data. | |||||||||||||||||
Level 3 – Unobservable inputs that are not corroborated by market data. | |||||||||||||||||
In determining the appropriate levels, the Company performs an analysis of the assets and liabilities that are carried at fair value. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 6. Income Taxes |
The Company and its subsidiaries file a consolidated federal income tax return. The Company files consolidated or separate state income tax returns as permitted by individual states in which it operates. |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings Per Share | Note 7. Earnings Per Share | ||||||||
The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Numerator: | |||||||||
Net income | $ | 4,083 | $ | 5,610 | |||||
Denominator: | |||||||||
Weighted average shares outstanding for basic earnings per share | 12,838 | 12,655 | |||||||
Effect of dilutive securities | 223 | 345 | |||||||
Weighted average shares adjusted for dilutive securities | 13,061 | 13,000 | |||||||
Earnings per share: | |||||||||
Basic | $ | 0.32 | $ | 0.44 | |||||
Diluted | $ | 0.31 | $ | 0.43 | |||||
Options to purchase 104 and 27 shares of common stock were outstanding during the three months ended March 31, 2015 and 2014, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive. |
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Share-Based Compensation | Note 8. Share-Based Compensation | ||||||||||||||||
The Company previously adopted the 2007 Management Incentive Plan (the “2007 Plan”) and the 2011 Stock Incentive Plan (the “2011 Plan”). Under these plans, 1,987 shares of authorized common stock were reserved for issuance pursuant to grants approved by the Company’s Board of Directors (the “Board”). As of March 31, 2015, there were 448 and 124 shares available for grant under the 2007 Plan and the 2011 Plan, respectively. | |||||||||||||||||
At its 2015 annual meeting of stockholders held on April 22, 2015, the stockholders of the Company approved the 2015 Long-Term Incentive Plan (the “2015 Plan”). The effective date of the 2015 Plan was April 22, 2015. Subject to adjustments as provided in the 2015 Plan, the maximum aggregate number of shares of the Company’s common stock that may be issued under the 2015 Plan may not exceed the sum of (i) 350 shares plus (ii) any shares (A) remaining available for the grant of awards as of the effective date under the 2007 Plan or the 2011 Plan, and/or (B) subject to an award granted under the 2007 Plan or the 2011 Plan, which award is forfeited, cancelled, terminated, expires, or lapses. As of the effectiveness of the 2015 Plan, there were 922 shares available for grant under the 2015 Plan, inclusive of shares previously available for grant under the 2007 Plan and the 2011 Plan that were rolled over to the 2015 Plan. No further grants will be made under the 2007 Plan or the 2011 Plan. | |||||||||||||||||
As of March 31, 2015, unrecognized share-based compensation expense to be recognized over future periods approximated $2,784. This amount will be recognized as expense over a weighted-average period of 2.5 years. Share-based compensation expenses are recognized on a straight-line basis over the requisite service period of the agreement. All share-based compensation is classified as equity except where otherwise noted. | |||||||||||||||||
The Company allows for the settlement of share-based awards on a net share basis. With net share settlement, the employee does not surrender any cash or shares upon the exercise of stock options or the vesting of stock awards or stock units. Rather, the Company withholds the number of shares with a value equivalent to the option exercise price for stock options and the minimum statutory tax withholding for all share-based awards. Net share settlements have the effect of reducing the amount of shares that would have otherwise been issued as a result of exercise or vesting. | |||||||||||||||||
Long-term incentive program: The Company issues nonqualified stock options, performance-contingent restricted stock units (“RSU”), and cash-settled performance shares (“PS”) under a long-term incentive program. Recurring annual grants are at the discretion of the Board and have been granted in October 2014, for the 2014 calendar year, and in April 2015, for the 2015 calendar year. The grants cliff vest at the end of the third calendar year, subject to continued employment or as otherwise provided in the agreements. The actual value of the RSU and PS that may be earned can range from 0% to 150% of target based on the achievement of EBITDA (RSU) and net income per share (PS) performance targets over a three year period. | |||||||||||||||||
Inducement and retention program: From time to time, the Company issues share-based awards in conjunction with employment offers to select new executives and retention grants to select existing employees. The Company issues these awards to attract and retain talent and to provide market competitive compensation. The grants have various vesting terms which include fully-vested awards at the grant date and graded vesting over three- to five-year periods (subject to continued employment or as otherwise provided in the agreements). | |||||||||||||||||
Board compensation program: In October 2013, the Board revised its standard compensation arrangement for its non-employee directors. Effective for annual service years beginning in 2014, the Company awards its non-employee directors a cash retainer and shares of restricted common stock. The restricted stock awards occur five days following the Company’s annual meeting of stockholders and are fully vested upon the earlier of the first anniversary of the grant date or the completion of the directors’ annual service to the Company. The Board revised the compensation arrangement in April 2015 to provide that the equity portion of the compensation program be split evenly between restricted stock awards and stock options, with the stock options immediately vested on the grant date. | |||||||||||||||||
The following are the terms and amounts of the awards issued under the Company’s share-based incentive programs: | |||||||||||||||||
Stock options: The exercise price of all stock options is equal to the Company’s closing stock price on the date of grant. Stock options granted are subject to various vesting terms which include graded and cliff vesting over three- to five-year vesting periods. In addition, all stock options vest and become exercisable in full under certain circumstances following the occurrence of a Change of Control (as defined in the option award agreements). Participants who are awarded options must exercise their options within a maximum of ten years of the grant date. | |||||||||||||||||
The fair value of option grants are estimated on the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions for option grants during the three months ended March 31, 2015. No stock options were granted in the three months ended March 31, 2014. | |||||||||||||||||
2015 | |||||||||||||||||
Expected volatility | 47.77 | % | |||||||||||||||
Expected dividends | 0 | % | |||||||||||||||
Expected term (in years) | 6.43 | ||||||||||||||||
Risk-free rate | 1.77 | % | |||||||||||||||
Expected volatility is based on the Company’s historical stock price volatility beginning in 2014. Prior years were based on the historic volatility of a publicly traded company in the same industry. The expected term is calculated by using the simplified method due to insufficient historical data. The risk-free rate is based on the zero coupon U.S. Treasury bond rate over the expected term of the awards. | |||||||||||||||||
The following table summarizes the stock option activity for the three months ended March 31, 2015: | |||||||||||||||||
Number of | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||
Shares | Price Per Share | Remaining | Intrinsic | ||||||||||||||
Contractual | Value | ||||||||||||||||
Life (Years) | |||||||||||||||||
Options outstanding, beginning of the year | 896 | $ | 11.63 | ||||||||||||||
Granted | 101 | 15.55 | |||||||||||||||
Exercised | (37 | ) | 8.64 | ||||||||||||||
Forfeited | (10 | ) | 15.29 | ||||||||||||||
Expired | — | — | |||||||||||||||
Options outstanding at March 31, 2015 | 950 | $ | 12.13 | 4.8 | $ | 3,650 | |||||||||||
Options exercisable at March 31, 2015 | 625 | $ | 9.12 | 2.7 | $ | 3,650 | |||||||||||
Available for grant at March 31, 2015 | 572 | ||||||||||||||||
The following table provides additional stock option information. | |||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Weighted-average grant date fair value per award | $ | 7.33 | — | ||||||||||||||
Intrinsic value of options exercised | $ | 258 | $ | 316 | |||||||||||||
Fair value of stock options that vested | $ | 439 | $ | 698 | |||||||||||||
Restricted stock units: Compensation expense for restricted stock units is based on the Company’s closing stock price on the date of grant and the probability that certain financial goals are achieved over the performance period. Compensation cost is estimated based on expected performance and is adjusted at each reporting period. | |||||||||||||||||
The following table summarizes restricted stock unit activity during the three months ended March 31, 2015: | |||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Non-vested shares, beginning of the year | 35 | $ | 17.76 | ||||||||||||||
Granted | — | — | |||||||||||||||
Vested | — | — | |||||||||||||||
Forfeited | (5 | ) | 17.76 | ||||||||||||||
Non-vested shares, at March 31, 2015 | 30 | $ | 17.76 | ||||||||||||||
Cash-settled performance shares: Cash-settled performance shares will be settled in cash at the end of the performance measurement period and are classified as a liability. Compensation cost is estimated based on expected performance and is adjusted at each reporting period. | |||||||||||||||||
The following table summarizes cash-settled performance share activity during the three months ended March 31, 2015: | |||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Non-vested shares, beginning of the year | 629 | $ | 1 | ||||||||||||||
Granted | — | — | |||||||||||||||
Vested | — | — | |||||||||||||||
Forfeited | (98 | ) | 1 | ||||||||||||||
Non-vested shares, at March 31, 2015 | 531 | $ | 1 | ||||||||||||||
Restricted stock awards: The fair value and compensation cost of restricted stock is calculated using the Company’s closing stock price on the date of grant. | |||||||||||||||||
In January 2015, the Company entered into an Employment Agreement with its Chief Executive Officer. Pursuant to the Employment Agreement, the Company granted the executive 99 fully-vested shares of common stock, subject to a holding period requirement, and recognized $1,530 of expense during the three months ended March 31, 2015. | |||||||||||||||||
The following table summarizes restricted stock activity during the three months ended March 31, 2015: | |||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Non-vested shares, beginning of the year | 60 | $ | 15.91 | ||||||||||||||
Granted | 99 | 15.1 | |||||||||||||||
Vested | (99 | ) | 15.1 | ||||||||||||||
Forfeited | (10 | ) | 17.76 | ||||||||||||||
Non-vested shares, at March 31, 2015 | 50 | $ | 15.53 | ||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9. Commitments and Contingencies |
On May 30, 2014, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against the Company and certain of its current and former directors, executive officers, and shareholders (collectively, the “Defendants”). The complaint alleged violations of the Securities Act of 1933 (“1933 Act Claims”) and sought unspecified compensatory damages and other relief on behalf of a purported class of purchasers of the Company’s common stock in the September 2013 and December 2013 secondary public offerings. On August 25, 2014, Waterford Township Police & Fire Retirement System and City of Roseville Employees’ Retirement System were appointed as lead plaintiffs (collectively, the “Plaintiffs”). An amended complaint was filed on November 24, 2014. In addition to the 1933 Act Claims, the amended complaint also added claims for violations of the Securities Exchange Act of 1934 (“1934 Act Claims”) seeking unspecified compensatory damages on behalf of a purported class of purchasers of the Company’s common stock between May 2, 2013 and October 30, 2014, inclusive. On January 26, 2015, the Defendants filed motions to dismiss the amended complaint in its entirety. In response, the Plaintiffs sought and were granted leave to file an amended complaint. On February 27, 2015, the Plaintiffs filed a second amended complaint. Like the prior amended complaint, the second amended complaint asserts 1933 Act Claims and 1934 Act Claims and seeks unspecified compensatory damages. The Defendants’ motions to dismiss the second amended complaint were filed on April 28, 2015. The Plaintiffs’ opposition is due on June 12, 2015, and the Defendants’ reply is due on July 13, 2015. The Company believes that the claims against it are without merit and intends to defend against the litigation vigorously. | |
The Company’s primary insurance carrier during the applicable time period has (i) denied coverage for the 1933 Act Claims and (ii) acknowledged coverage of the Company and other insureds for the 1934 Act Claims under a reservation of rights and subject to the terms and conditions of the applicable insurance policy. The parties are in the process of negotiating an allocation between denied and acknowledged claims. | |
In the normal course of business, the Company has been named as a defendant in legal actions, including arbitrations, class actions, and other litigation arising in connection with its activities. Some of the actual or threatened legal actions include claims for compensatory and punitive damages or claims for indeterminate amounts of damages. While the Company will continue to identify legal actions where the Company believes a material loss to be reasonably possible and reasonably estimable, there can be no assurance that material losses will not be incurred from claims that the Company has not yet been notified of or are not yet determined to be probable or reasonably possible and reasonable to estimate. | |
The Company contests liability and the amount of damages, as appropriate, in each pending matter. Where available information indicates that it is probable that a liability has been incurred and the Company can reasonably estimate the amount of that loss, the Company accrues the estimated loss by a charge to net income. As of March 31, 2015, the Company has accrued $497 for these matters. In many actions, however, it is inherently difficult to determine whether any loss is probable or even reasonably possible or to estimate the amount of loss. In addition, even where a loss is reasonably possible or an exposure to loss exists in excess of the liability already accrued, it is not always possible to reasonably estimate the size of the possible loss or range of loss. | |
For certain legal actions, the Company cannot reasonably estimate such losses, particularly for actions that are in their early stages of development or where plaintiffs seek indeterminate damages. Numerous issues may need to be resolved, including through lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the actions in question, before a loss, additional loss, range of loss, or range of additional loss can be reasonably estimated for any given action. | |
For certain other legal actions, the Company can estimate reasonably possible losses, additional losses, ranges of loss, or ranges of additional loss in excess of amounts accrued, but the Company does not believe, based on current knowledge and after consultation with counsel, that such losses will have a material adverse effect on the consolidated financial statements. | |
The Company expenses legal costs as they are incurred. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 10: Subsequent Events |
On April 1, 2015, the Company purchased three interest rate cap contracts for $577 to manage the interest rate risk associated with future interest payments on variable-rate debt. The Company will use the interest rate caps to minimize the negative impact of interest rate fluctuations on its earnings and cash flows, thus reducing the Company’s exposure to variability in expected future cash flows. The interest rate cap contracts have an aggregate notional principal amount of $150,000 with a 2.5% strike rate against one-month LIBOR rates and mature in April 2018. |
Basis_of_Presentation_and_Sign1
Basis of Presentation and Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation: The consolidated financial statements of the Company have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q adopted by the Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information, and, accordingly, do not include all information and note disclosures required by GAAP for complete financial statements. The interim financial statements in this Quarterly Report on Form 10-Q have not been audited by an independent registered public accounting firm in accordance with standards of the Public Company Accounting Oversight Board (U.S.), but in the opinion of management include all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Annual Report on Form 10-K for the year ended December 31, 2014 as filed with the SEC. |
Principles of consolidation | Principles of consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company operates through a separate wholly-owned subsidiary in each state. |
Use of estimates | Use of estimates: The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and disclosure of contingent assets and liabilities for the periods indicated in the financial statements. Actual results could differ from those estimates. |
Material estimates that are particularly susceptible to change relate to the determination of the allowance for credit losses, fair value of stock based compensation, the valuation of deferred tax assets and liabilities, and the allocation of the purchase price to assets acquired in business combinations. | |
Reclassifications | Reclassifications: Certain prior period amounts have been reclassified to conform to the current presentation. Such reclassifications had no impact on previously reported net income or stockholders’ equity. |
Finance_Receivables_Allowance_1
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Finance Receivables | Finance receivables consisted of the following: | ||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 121,649 | $ | 128,217 | |||||||||||||||||||||||||||||||||||||||||||||
Convenience checks | 170,013 | 191,316 | |||||||||||||||||||||||||||||||||||||||||||||||
Large loans | 63,338 | 46,147 | |||||||||||||||||||||||||||||||||||||||||||||||
Automobile loans | 146,724 | 154,382 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail loans | 24,183 | 26,130 | |||||||||||||||||||||||||||||||||||||||||||||||
Finance receivables | $ | 525,907 | $ | 546,192 | |||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Allowance for Credit Losses | Changes in the allowance for credit losses for the periods indicated are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 40,511 | $ | 30,089 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for credit losses | 9,712 | 16,945 | |||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (14,108 | ) | (13,098 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 835 | 389 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 36,950 | $ | 34,325 | |||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Allowance for Credit Losses | The following is a reconciliation of the allowance for credit losses by product for the periods indicated: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Provision | Charge-offs | Recoveries | Balance | Finance | Allowance as | |||||||||||||||||||||||||||||||||||||||||||
January 1, | March 31, | Receivables | Percentage of | ||||||||||||||||||||||||||||||||||||||||||||||
2015 | 2015 | March 31, | Finance Receivable | ||||||||||||||||||||||||||||||||||||||||||||||
2015 | March 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 6,960 | $ | 2,926 | $ | (3,333 | ) | $ | 197 | $ | 6,750 | $ | 121,649 | 5.5 | % | ||||||||||||||||||||||||||||||||||
Convenience checks | 18,320 | 1,708 | (6,527 | ) | 289 | 13,790 | 170,013 | 8.1 | % | ||||||||||||||||||||||||||||||||||||||||
Large loans | 1,980 | 1,578 | (512 | ) | 73 | 3,119 | 63,338 | 4.9 | % | ||||||||||||||||||||||||||||||||||||||||
Automobile loans | 11,776 | 3,120 | (3,304 | ) | 241 | 11,833 | 146,724 | 8.1 | % | ||||||||||||||||||||||||||||||||||||||||
Retail loans | 1,475 | 380 | (432 | ) | 35 | 1,458 | 24,183 | 6 | % | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 40,511 | $ | 9,712 | $ | (14,108 | ) | $ | 835 | $ | 36,950 | $ | 525,907 | 7 | % | ||||||||||||||||||||||||||||||||||
Balance | Provision | Charge-offs | Recoveries | Balance | Finance | Allowance as | |||||||||||||||||||||||||||||||||||||||||||
January 1, | March 31, | Receivables | Percentage of | ||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2014 | March 31, | Finance Receivable | ||||||||||||||||||||||||||||||||||||||||||||||
2014 | March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 5,166 | $ | 3,522 | $ | (2,763 | ) | $ | 109 | $ | 6,034 | $ | 100,031 | 6 | % | ||||||||||||||||||||||||||||||||||
Convenience checks | 10,204 | 8,114 | (5,975 | ) | 105 | 12,448 | 155,030 | 8 | % | ||||||||||||||||||||||||||||||||||||||||
Large loans | 2,233 | 330 | (501 | ) | 88 | 2,150 | 41,868 | 5.1 | % | ||||||||||||||||||||||||||||||||||||||||
Automobile loans | 10,827 | 4,145 | (3,151 | ) | 62 | 11,883 | 175,152 | 6.8 | % | ||||||||||||||||||||||||||||||||||||||||
Retail loans | 1,659 | 834 | (708 | ) | 25 | 1,810 | 29,653 | 6.1 | % | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 30,089 | $ | 16,945 | $ | (13,098 | ) | $ | 389 | $ | 34,325 | $ | 501,734 | 6.8 | % | ||||||||||||||||||||||||||||||||||
Finance Receivables Associated with Customers in Bankruptcy | The following is a summary of the finance receivables associated with customers in bankruptcy as of the periods indicated: | ||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Branch small loans | $ | 595 | $ | 582 | |||||||||||||||||||||||||||||||||||||||||||||
Convenience checks | 531 | 544 | |||||||||||||||||||||||||||||||||||||||||||||||
Large loans | 1,275 | 1,260 | |||||||||||||||||||||||||||||||||||||||||||||||
Automobile loans | 3,712 | 3,698 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail loans | 127 | 119 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 6,240 | $ | 6,203 | |||||||||||||||||||||||||||||||||||||||||||||
Contractual Delinquency of the Finance Receivable Portfolio by Component | The contractual delinquency of the finance receivable portfolio by component for the periods indicated are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch Small | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Check | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||||||||||||||||||||
Current | $ | 99,398 | 81.7 | % | $ | 139,303 | 82 | % | $ | 54,919 | 86.7 | % | $ | 110,992 | 75.6 | % | $ | 20,476 | 84.7 | % | $ | 425,088 | 80.8 | % | |||||||||||||||||||||||||
1 to 29 days past due | 13,361 | 11 | % | 16,029 | 9.4 | % | 6,715 | 10.6 | % | 28,878 | 19.7 | % | 2,670 | 11 | % | 67,653 | 12.9 | % | |||||||||||||||||||||||||||||||
Delinquent accounts | |||||||||||||||||||||||||||||||||||||||||||||||||
30 to 59 days | 2,910 | 2.3 | % | 3,796 | 2.2 | % | 763 | 1.2 | % | 3,752 | 2.6 | % | 375 | 1.5 | % | 11,596 | 2.2 | % | |||||||||||||||||||||||||||||||
60 to 89 days | 2,022 | 1.7 | % | 2,772 | 1.6 | % | 421 | 0.7 | % | 1,421 | 1 | % | 188 | 0.8 | % | 6,824 | 1.3 | % | |||||||||||||||||||||||||||||||
90 to 119 days | 1,304 | 1.2 | % | 2,349 | 1.4 | % | 235 | 0.3 | % | 798 | 0.5 | % | 158 | 0.7 | % | 4,844 | 0.9 | % | |||||||||||||||||||||||||||||||
120 to 149 days | 1,379 | 1.1 | % | 2,571 | 1.5 | % | 159 | 0.3 | % | 620 | 0.4 | % | 152 | 0.6 | % | 4,881 | 0.9 | % | |||||||||||||||||||||||||||||||
150 to 179 days | 1,275 | 1 | % | 3,193 | 1.9 | % | 126 | 0.2 | % | 263 | 0.2 | % | 164 | 0.7 | % | 5,021 | 1 | % | |||||||||||||||||||||||||||||||
Total delinquency | $ | 8,890 | 7.3 | % | $ | 14,681 | 8.6 | % | $ | 1,704 | 2.7 | % | $ | 6,854 | 4.7 | % | $ | 1,037 | 4.3 | % | $ | 33,166 | 6.3 | % | |||||||||||||||||||||||||
Total finance receivables | $ | 121,649 | 100 | % | $ | 170,013 | 100 | % | $ | 63,338 | 100 | % | $ | 146,724 | 100 | % | $ | 24,183 | 100 | % | $ | 525,907 | 100 | % | |||||||||||||||||||||||||
Finance receivables in nonaccrual status | $ | 3,958 | 3.3 | % | $ | 8,113 | 4.8 | % | $ | 520 | 0.8 | % | $ | 1,681 | 1.1 | % | $ | 474 | 2 | % | $ | 14,746 | 2.8 | % | |||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch Small | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Check | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||||||||||||||||||||
Current | $ | 104,003 | 81.1 | % | $ | 154,833 | 80.9 | % | $ | 36,658 | 79.4 | % | $ | 105,424 | 68.3 | % | $ | 21,424 | 82 | % | $ | 422,342 | 77.4 | % | |||||||||||||||||||||||||
1 to 29 days past due | 13,967 | 10.9 | % | 19,318 | 10.1 | % | 7,383 | 16 | % | 38,656 | 25 | % | 3,390 | 13 | % | 82,714 | 15.1 | % | |||||||||||||||||||||||||||||||
Delinquent accounts | |||||||||||||||||||||||||||||||||||||||||||||||||
30 to 59 days | 3,647 | 2.8 | % | 5,134 | 2.7 | % | 1,036 | 2.3 | % | 5,651 | 3.7 | % | 483 | 1.8 | % | 15,951 | 2.9 | % | |||||||||||||||||||||||||||||||
60 to 89 days | 2,275 | 1.8 | % | 4,442 | 2.3 | % | 483 | 1 | % | 2,114 | 1.4 | % | 310 | 1.2 | % | 9,624 | 1.8 | % | |||||||||||||||||||||||||||||||
90 to 119 days | 1,857 | 1.4 | % | 3,312 | 1.8 | % | 263 | 0.6 | % | 1,266 | 0.8 | % | 201 | 0.8 | % | 6,899 | 1.2 | % | |||||||||||||||||||||||||||||||
120 to 149 days | 1,478 | 1.2 | % | 2,343 | 1.2 | % | 204 | 0.4 | % | 758 | 0.5 | % | 205 | 0.8 | % | 4,988 | 0.9 | % | |||||||||||||||||||||||||||||||
150 to 179 days | 990 | 0.8 | % | 1,934 | 1 | % | 120 | 0.3 | % | 513 | 0.3 | % | 117 | 0.4 | % | 3,674 | 0.7 | % | |||||||||||||||||||||||||||||||
Total delinquency | $ | 10,247 | 8 | % | $ | 17,165 | 9 | % | $ | 2,106 | 4.6 | % | $ | 10,302 | 6.7 | % | $ | 1,316 | 5 | % | $ | 41,136 | 7.5 | % | |||||||||||||||||||||||||
Total finance receivables | $ | 128,217 | 100 | % | $ | 191,316 | 100 | % | $ | 46,147 | 100 | % | $ | 154,382 | 100 | % | $ | 26,130 | 100 | % | $ | 546,192 | 100 | % | |||||||||||||||||||||||||
Finance receivables in nonaccrual status | $ | 4,325 | 3.4 | % | $ | 7,589 | 4 | % | $ | 587 | 1.3 | % | $ | 2,537 | 1.6 | % | $ | 523 | 2 | % | $ | 15,561 | 2.8 | % | |||||||||||||||||||||||||
Summary of Finance Receivables Evaluated for Impairment | Following is a summary of finance receivables evaluated for impairment for the periods indicated: | ||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Small | Check | ||||||||||||||||||||||||||||||||||||||||||||||||
Customers in Chapter 13 bankruptcy specifically evaluated | $ | 595 | $ | 531 | $ | 1,275 | $ | 3,712 | $ | 127 | $ | 6,240 | |||||||||||||||||||||||||||||||||||||
Finance receivables evaluated collectively | 121,054 | 169,482 | 62,063 | 143,012 | 24,056 | 519,667 | |||||||||||||||||||||||||||||||||||||||||||
Finance receivables outstanding | $ | 121,649 | $ | 170,013 | $ | 63,338 | $ | 146,724 | $ | 24,183 | $ | 525,907 | |||||||||||||||||||||||||||||||||||||
Accounts in bankruptcy in nonaccrual status | $ | 95 | $ | 104 | $ | 58 | $ | 213 | $ | 18 | $ | 488 | |||||||||||||||||||||||||||||||||||||
Amount of the specific reserve for impaired accounts | $ | 159 | $ | 140 | $ | 323 | $ | 998 | $ | 19 | $ | 1,639 | |||||||||||||||||||||||||||||||||||||
Average impaired accounts | $ | 592 | $ | 517 | $ | 1,265 | $ | 3,671 | $ | 122 | $ | 6,167 | |||||||||||||||||||||||||||||||||||||
Amount of the general component of the allowance | $ | 6,591 | $ | 13,650 | $ | 2,796 | $ | 10,835 | $ | 1,439 | $ | 35,311 | |||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Branch | Convenience | Large | Automobile | Retail | Total | ||||||||||||||||||||||||||||||||||||||||||||
Small | Check | ||||||||||||||||||||||||||||||||||||||||||||||||
Customers in Chapter 13 bankruptcy specifically evaluated | $ | 582 | $ | 544 | $ | 1,260 | $ | 3,698 | $ | 119 | $ | 6,203 | |||||||||||||||||||||||||||||||||||||
Finance receivables evaluated collectively | 127,635 | 190,772 | 44,887 | 150,684 | 26,011 | 539,989 | |||||||||||||||||||||||||||||||||||||||||||
Finance receivables outstanding | $ | 128,217 | $ | 191,316 | $ | 46,147 | $ | 154,382 | $ | 26,130 | $ | 546,192 | |||||||||||||||||||||||||||||||||||||
Accounts in bankruptcy in nonaccrual status | $ | 140 | $ | 159 | $ | 133 | $ | 559 | $ | 16 | $ | 1,007 | |||||||||||||||||||||||||||||||||||||
Amount of the specific reserve for impaired accounts | $ | 143 | $ | 165 | $ | 309 | $ | 981 | $ | 18 | $ | 1,616 | |||||||||||||||||||||||||||||||||||||
Average impaired accounts | $ | 1,097 | $ | 1,266 | $ | 1,616 | $ | 4,134 | $ | 235 | $ | 8,348 | |||||||||||||||||||||||||||||||||||||
Amount of the general component of the allowance | $ | 6,817 | $ | 18,155 | $ | 1,671 | $ | 10,795 | $ | 1,457 | $ | 38,895 | |||||||||||||||||||||||||||||||||||||
Disclosure_About_Fair_Value_of1
Disclosure About Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Carrying Amount and Estimated Fair Values of Company's Financial Instruments | The carrying amount and estimated fair values of the Company’s financial instruments summarized by level are as follows: | ||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Assets | |||||||||||||||||
Level 1 inputs | |||||||||||||||||
Cash | $ | 2,060 | $ | 2,060 | $ | 4,012 | $ | 4,012 | |||||||||
Restricted cash | 1,900 | 1,900 | 1,900 | 1,900 | |||||||||||||
Level 3 inputs | |||||||||||||||||
Net finance receivables | 488,957 | 488,957 | 505,681 | 505,681 | |||||||||||||
Repossessed assets | 400 | 400 | 556 | 556 | |||||||||||||
Liabilities | |||||||||||||||||
Level 3 inputs | |||||||||||||||||
Senior revolving credit facility | 312,538 | 312,538 | 341,419 | 341,419 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Computation of Basic and Diluted Earnings Per Share | The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Numerator: | |||||||||
Net income | $ | 4,083 | $ | 5,610 | |||||
Denominator: | |||||||||
Weighted average shares outstanding for basic earnings per share | 12,838 | 12,655 | |||||||
Effect of dilutive securities | 223 | 345 | |||||||
Weighted average shares adjusted for dilutive securities | 13,061 | 13,000 | |||||||
Earnings per share: | |||||||||
Basic | $ | 0.32 | $ | 0.44 | |||||
Diluted | $ | 0.31 | $ | 0.43 | |||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Fair Value of Option Grants | The fair value of option grants are estimated on the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions for option grants during the three months ended March 31, 2015. No stock options were granted in the three months ended March 31, 2014. | ||||||||||||||||
2015 | |||||||||||||||||
Expected volatility | 47.77 | % | |||||||||||||||
Expected dividends | 0 | % | |||||||||||||||
Expected term (in years) | 6.43 | ||||||||||||||||
Risk-free rate | 1.77 | % | |||||||||||||||
Summary of Company's Stock Option Plan Activity | The following table summarizes the stock option activity for the three months ended March 31, 2015: | ||||||||||||||||
Number of | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||
Shares | Price Per Share | Remaining | Intrinsic | ||||||||||||||
Contractual | Value | ||||||||||||||||
Life (Years) | |||||||||||||||||
Options outstanding, beginning of the year | 896 | $ | 11.63 | ||||||||||||||
Granted | 101 | 15.55 | |||||||||||||||
Exercised | (37 | ) | 8.64 | ||||||||||||||
Forfeited | (10 | ) | 15.29 | ||||||||||||||
Expired | — | — | |||||||||||||||
Options outstanding at March 31, 2015 | 950 | $ | 12.13 | 4.8 | $ | 3,650 | |||||||||||
Options exercisable at March 31, 2015 | 625 | $ | 9.12 | 2.7 | $ | 3,650 | |||||||||||
Available for grant at March 31, 2015 | 572 | ||||||||||||||||
Summary of Additional Stock Option Information | The following table provides additional stock option information. | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Weighted-average grant date fair value per award | $ | 7.33 | — | ||||||||||||||
Intrinsic value of options exercised | $ | 258 | $ | 316 | |||||||||||||
Fair value of stock options that vested | $ | 439 | $ | 698 | |||||||||||||
Summary of Restricted Stock Unit Activity | The following table summarizes restricted stock unit activity during the three months ended March 31, 2015: | ||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Non-vested shares, beginning of the year | 35 | $ | 17.76 | ||||||||||||||
Granted | — | — | |||||||||||||||
Vested | — | — | |||||||||||||||
Forfeited | (5 | ) | 17.76 | ||||||||||||||
Non-vested shares, at March 31, 2015 | 30 | $ | 17.76 | ||||||||||||||
Summary of Cash Settled Performance Shares Activity | The following table summarizes cash settled performance share activity during the three months ended March 31, 2015: | ||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Non-vested shares, beginning of the year | 629 | $ | 1 | ||||||||||||||
Granted | — | — | |||||||||||||||
Vested | — | — | |||||||||||||||
Forfeited | (98 | ) | 1 | ||||||||||||||
Non-vested shares, at March 31, 2015 | 531 | $ | 1 | ||||||||||||||
Summary of Restricted Stock Activity | The following table summarizes restricted stock activity during the three months ended March 31, 2015: | ||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Non-vested shares, beginning of the year | 60 | $ | 15.91 | ||||||||||||||
Granted | 99 | 15.1 | |||||||||||||||
Vested | (99 | ) | 15.1 | ||||||||||||||
Forfeited | (10 | ) | 17.76 | ||||||||||||||
Non-vested shares, at March 31, 2015 | 50 | $ | 15.53 | ||||||||||||||
Nature_of_Business_Additional_
Nature of Business - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Office | |
Location | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 306 |
Number of offices opened | 6 |
Alabama [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 49 |
Georgia [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 3 |
New Mexico [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 13 |
North Carolina [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 35 |
Oklahoma [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 27 |
South Carolina [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 70 |
Tennessee [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 21 |
Texas [Member] | |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 88 |
Finance_Receivables_Allowance_2
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Summary of Finance Receivables (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | $525,907 | $546,192 | $501,734 |
Branch Small [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 121,649 | 128,217 | 100,031 |
Convenience Checks [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 170,013 | 191,316 | 155,030 |
Large [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 63,338 | 46,147 | 41,868 |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 146,724 | 154,382 | 175,152 |
Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | $24,183 | $26,130 | $29,653 |
Finance_Receivables_Allowance_3
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Summary of Changes in Allowance for Credit Losses (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Receivables [Abstract] | ||
Balance at beginning of period | $40,511 | $30,089 |
Provision for credit losses | 9,712 | 16,945 |
Charge-offs | -14,108 | -13,098 |
Recoveries | 835 | 389 |
Balance at end of period | $36,950 | $34,325 |
Finance_Receivables_Allowance_4
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Reconciliation of Allowance for Credit Losses (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | $40,511 | $30,089 | |
Provision | 9,712 | 16,945 | |
Charge-offs | -14,108 | -13,098 | |
Recoveries | 835 | 389 | |
Balance at end of period | 36,950 | 34,325 | |
Finance receivables | 525,907 | 501,734 | 546,192 |
Allowance as Percentage of Finance Receivable | 7.00% | 6.80% | |
Branch Small [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 6,960 | 5,166 | |
Provision | 2,926 | 3,522 | |
Charge-offs | -3,333 | -2,763 | |
Recoveries | 197 | 109 | |
Balance at end of period | 6,750 | 6,034 | |
Finance receivables | 121,649 | 100,031 | 128,217 |
Allowance as Percentage of Finance Receivable | 5.50% | 6.00% | |
Convenience Checks [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 18,320 | 10,204 | |
Provision | 1,708 | 8,114 | |
Charge-offs | -6,527 | -5,975 | |
Recoveries | 289 | 105 | |
Balance at end of period | 13,790 | 12,448 | |
Finance receivables | 170,013 | 155,030 | 191,316 |
Allowance as Percentage of Finance Receivable | 8.10% | 8.00% | |
Large [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 1,980 | 2,233 | |
Provision | 1,578 | 330 | |
Charge-offs | -512 | -501 | |
Recoveries | 73 | 88 | |
Balance at end of period | 3,119 | 2,150 | |
Finance receivables | 63,338 | 41,868 | 46,147 |
Allowance as Percentage of Finance Receivable | 4.90% | 5.10% | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 11,776 | 10,827 | |
Provision | 3,120 | 4,145 | |
Charge-offs | -3,304 | -3,151 | |
Recoveries | 241 | 62 | |
Balance at end of period | 11,833 | 11,883 | |
Finance receivables | 146,724 | 175,152 | 154,382 |
Allowance as Percentage of Finance Receivable | 8.10% | 6.80% | |
Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 1,475 | 1,659 | |
Provision | 380 | 834 | |
Charge-offs | -432 | -708 | |
Recoveries | 35 | 25 | |
Balance at end of period | 1,458 | 1,810 | |
Finance receivables | $24,183 | $29,653 | $26,130 |
Allowance as Percentage of Finance Receivable | 6.00% | 6.10% |
Finance_Receivables_Allowance_5
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Receivables [Abstract] | ||
Finance receivables | 1.20% | 1.10% |
Finance_Receivables_Allowance_6
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Finance Receivables Associated with Customers in Bankruptcy (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | $6,240 | $6,203 |
Branch Small [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 595 | 582 |
Convenience Checks [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 531 | 544 |
Large [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 1,275 | 1,260 |
Automobile [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 3,712 | 3,698 |
Retail [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | $127 | $119 |
Finance_Receivables_Allowance_7
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Contractual Delinquency of the Finance Receivable Portfolio by Component (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $425,088 | $422,342 | |
Current, Percent | 80.80% | 77.40% | |
1 to 29 days past due | 67,653 | 82,714 | |
1 to 29 days past due, percent | 12.90% | 15.10% | |
Delinquent accounts | |||
30 to 59 days | 11,596 | 15,951 | |
30 to 59 days, Percent | 2.20% | 2.90% | |
60 to 89 days | 6,824 | 9,624 | |
60 to 89 days, Percent | 1.30% | 1.80% | |
90 to 119 days | 4,844 | 6,899 | |
90 to 119 days, Percent | 0.90% | 1.20% | |
120 to 149 days | 4,881 | 4,988 | |
120 to 149 days, Percent | 0.90% | 0.90% | |
150 to 179 days | 5,021 | 3,674 | |
150 to 179 days, Percent | 1.00% | 0.70% | |
Total delinquency | 33,166 | 41,136 | |
Total delinquency, Percent | 6.30% | 7.50% | |
Finance receivables | 525,907 | 546,192 | 501,734 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | 14,746 | 15,561 | |
Finance receivables in nonaccrual status, Percent | 2.80% | 2.80% | |
Branch Small [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | 99,398 | 104,003 | |
Current, Percent | 81.70% | 81.10% | |
1 to 29 days past due | 13,361 | 13,967 | |
1 to 29 days past due, percent | 11.00% | 10.90% | |
Delinquent accounts | |||
30 to 59 days | 2,910 | 3,647 | |
30 to 59 days, Percent | 2.30% | 2.80% | |
60 to 89 days | 2,022 | 2,275 | |
60 to 89 days, Percent | 1.70% | 1.80% | |
90 to 119 days | 1,304 | 1,857 | |
90 to 119 days, Percent | 1.20% | 1.40% | |
120 to 149 days | 1,379 | 1,478 | |
120 to 149 days, Percent | 1.10% | 1.20% | |
150 to 179 days | 1,275 | 990 | |
150 to 179 days, Percent | 1.00% | 0.80% | |
Total delinquency | 8,890 | 10,247 | |
Total delinquency, Percent | 7.30% | 8.00% | |
Finance receivables | 121,649 | 128,217 | 100,031 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | 3,958 | 4,325 | |
Finance receivables in nonaccrual status, Percent | 3.30% | 3.40% | |
Convenience Checks [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | 139,303 | 154,833 | |
Current, Percent | 82.00% | 80.90% | |
1 to 29 days past due | 16,029 | 19,318 | |
1 to 29 days past due, percent | 9.40% | 10.10% | |
Delinquent accounts | |||
30 to 59 days | 3,796 | 5,134 | |
30 to 59 days, Percent | 2.20% | 2.70% | |
60 to 89 days | 2,772 | 4,442 | |
60 to 89 days, Percent | 1.60% | 2.30% | |
90 to 119 days | 2,349 | 3,312 | |
90 to 119 days, Percent | 1.40% | 1.80% | |
120 to 149 days | 2,571 | 2,343 | |
120 to 149 days, Percent | 1.50% | 1.20% | |
150 to 179 days | 3,193 | 1,934 | |
150 to 179 days, Percent | 1.90% | 1.00% | |
Total delinquency | 14,681 | 17,165 | |
Total delinquency, Percent | 8.60% | 9.00% | |
Finance receivables | 170,013 | 191,316 | 155,030 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | 8,113 | 7,589 | |
Finance receivables in nonaccrual status, Percent | 4.80% | 4.00% | |
Large [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | 54,919 | 36,658 | |
Current, Percent | 86.70% | 79.40% | |
1 to 29 days past due | 6,715 | 7,383 | |
1 to 29 days past due, percent | 10.60% | 16.00% | |
Delinquent accounts | |||
30 to 59 days | 763 | 1,036 | |
30 to 59 days, Percent | 1.20% | 2.30% | |
60 to 89 days | 421 | 483 | |
60 to 89 days, Percent | 0.70% | 1.00% | |
90 to 119 days | 235 | 263 | |
90 to 119 days, Percent | 0.30% | 0.60% | |
120 to 149 days | 159 | 204 | |
120 to 149 days, Percent | 0.30% | 0.40% | |
150 to 179 days | 126 | 120 | |
150 to 179 days, Percent | 0.20% | 0.30% | |
Total delinquency | 1,704 | 2,106 | |
Total delinquency, Percent | 2.70% | 4.60% | |
Finance receivables | 63,338 | 46,147 | 41,868 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | 520 | 587 | |
Finance receivables in nonaccrual status, Percent | 0.80% | 1.30% | |
Automobile [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | 110,992 | 105,424 | |
Current, Percent | 75.60% | 68.30% | |
1 to 29 days past due | 28,878 | 38,656 | |
1 to 29 days past due, percent | 19.70% | 25.00% | |
Delinquent accounts | |||
30 to 59 days | 3,752 | 5,651 | |
30 to 59 days, Percent | 2.60% | 3.70% | |
60 to 89 days | 1,421 | 2,114 | |
60 to 89 days, Percent | 1.00% | 1.40% | |
90 to 119 days | 798 | 1,266 | |
90 to 119 days, Percent | 0.50% | 0.80% | |
120 to 149 days | 620 | 758 | |
120 to 149 days, Percent | 0.40% | 0.50% | |
150 to 179 days | 263 | 513 | |
150 to 179 days, Percent | 0.20% | 0.30% | |
Total delinquency | 6,854 | 10,302 | |
Total delinquency, Percent | 4.70% | 6.70% | |
Finance receivables | 146,724 | 154,382 | 175,152 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | 1,681 | 2,537 | |
Finance receivables in nonaccrual status, Percent | 1.10% | 1.60% | |
Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | 20,476 | 21,424 | |
Current, Percent | 84.70% | 82.00% | |
1 to 29 days past due | 2,670 | 3,390 | |
1 to 29 days past due, percent | 11.00% | 13.00% | |
Delinquent accounts | |||
30 to 59 days | 375 | 483 | |
30 to 59 days, Percent | 1.50% | 1.80% | |
60 to 89 days | 188 | 310 | |
60 to 89 days, Percent | 0.80% | 1.20% | |
90 to 119 days | 158 | 201 | |
90 to 119 days, Percent | 0.70% | 0.80% | |
120 to 149 days | 152 | 205 | |
120 to 149 days, Percent | 0.60% | 0.80% | |
150 to 179 days | 164 | 117 | |
150 to 179 days, Percent | 0.70% | 0.40% | |
Total delinquency | 1,037 | 1,316 | |
Total delinquency, Percent | 4.30% | 5.00% | |
Finance receivables | 24,183 | 26,130 | 29,653 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $474 | $523 | |
Finance receivables in nonaccrual status, Percent | 2.00% | 2.00% |
Finance_Receivables_Allowance_8
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Summary of Finance Receivables Evaluated for Impairment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in Chapter 13 bankruptcy specifically evaluated | $6,240 | $6,203 | |
Finance receivables evaluated collectively | 519,667 | 539,989 | |
Finance receivables | 525,907 | 546,192 | 501,734 |
Accounts in bankruptcy in nonaccrual status | 488 | 1,007 | |
Amount of the specific reserve for impaired accounts | 1,639 | 1,616 | |
Average impaired accounts | 6,167 | 8,348 | |
Amount of the general component of the allowance | 35,311 | 38,895 | |
Branch Small [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in Chapter 13 bankruptcy specifically evaluated | 595 | 582 | |
Finance receivables evaluated collectively | 121,054 | 127,635 | |
Finance receivables | 121,649 | 128,217 | 100,031 |
Accounts in bankruptcy in nonaccrual status | 95 | 140 | |
Amount of the specific reserve for impaired accounts | 159 | 143 | |
Average impaired accounts | 592 | 1,097 | |
Amount of the general component of the allowance | 6,591 | 6,817 | |
Convenience Checks [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in Chapter 13 bankruptcy specifically evaluated | 531 | 544 | |
Finance receivables evaluated collectively | 169,482 | 190,772 | |
Finance receivables | 170,013 | 191,316 | 155,030 |
Accounts in bankruptcy in nonaccrual status | 104 | 159 | |
Amount of the specific reserve for impaired accounts | 140 | 165 | |
Average impaired accounts | 517 | 1,266 | |
Amount of the general component of the allowance | 13,650 | 18,155 | |
Large [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in Chapter 13 bankruptcy specifically evaluated | 1,275 | 1,260 | |
Finance receivables evaluated collectively | 62,063 | 44,887 | |
Finance receivables | 63,338 | 46,147 | 41,868 |
Accounts in bankruptcy in nonaccrual status | 58 | 133 | |
Amount of the specific reserve for impaired accounts | 323 | 309 | |
Average impaired accounts | 1,265 | 1,616 | |
Amount of the general component of the allowance | 2,796 | 1,671 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in Chapter 13 bankruptcy specifically evaluated | 3,712 | 3,698 | |
Finance receivables evaluated collectively | 143,012 | 150,684 | |
Finance receivables | 146,724 | 154,382 | 175,152 |
Accounts in bankruptcy in nonaccrual status | 213 | 559 | |
Amount of the specific reserve for impaired accounts | 998 | 981 | |
Average impaired accounts | 3,671 | 4,134 | |
Amount of the general component of the allowance | 10,835 | 10,795 | |
Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in Chapter 13 bankruptcy specifically evaluated | 127 | 119 | |
Finance receivables evaluated collectively | 24,056 | 26,011 | |
Finance receivables | 24,183 | 26,130 | 29,653 |
Accounts in bankruptcy in nonaccrual status | 18 | 16 | |
Amount of the specific reserve for impaired accounts | 19 | 18 | |
Average impaired accounts | 122 | 235 | |
Amount of the general component of the allowance | $1,439 | $1,457 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (Senior Revolving Credit Facility [Member], USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Senior Revolving Credit Facility [Member] | |
Line of Credit Facility [Line Items] | |
Credit facility, unused capacity | $187,462 |
Percentage of advances on debt agreement eligible finance receivables | 85.00% |
Percentage of advances on finance receivables | 81.00% |
Disclosure_About_Fair_Value_of2
Disclosure About Fair Value of Financial Instruments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Turnover rate of loan portfolio | 1.6 |
Disclosure_About_Fair_Value_of3
Disclosure About Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Values of Company's Financial Instruments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Assets | ||||
Cash | $2,060 | $4,012 | $6,265 | $4,121 |
Net finance receivables | 488,957 | 505,681 | ||
Repossessed assets | 400 | 556 | ||
Liabilities | ||||
Senior revolving credit facility | 312,538 | 341,419 | ||
Estimated Fair Value [Member] | Level 1 Inputs [Member] | ||||
Assets | ||||
Cash | 2,060 | 4,012 | ||
Restricted cash | 1,900 | 1,900 | ||
Estimated Fair Value [Member] | Level 3 Inputs [Member] | ||||
Assets | ||||
Net finance receivables | 488,957 | 505,681 | ||
Repossessed assets | 400 | 556 | ||
Liabilities | ||||
Senior revolving credit facility | 312,538 | 341,419 | ||
Carrying Amount [Member] | Level 1 Inputs [Member] | ||||
Assets | ||||
Cash | 2,060 | 4,012 | ||
Restricted cash | 1,900 | 1,900 | ||
Carrying Amount [Member] | Level 3 Inputs [Member] | ||||
Assets | ||||
Net finance receivables | 488,957 | 505,681 | ||
Repossessed assets | 400 | 556 | ||
Liabilities | ||||
Senior revolving credit facility | $312,538 | $341,419 |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Numerator: | |||
Net income | $4,083 | $5,610 | $14,802 |
Denominator: | |||
Weighted average shares outstanding for basic earnings per share | 12,838 | 12,655 | |
Effect of dilutive securities | 223 | 345 | |
Weighted average shares adjusted for dilutive securities | 13,061 | 13,000 | |
Basic | $0.32 | $0.44 | |
Diluted | $0.31 | $0.43 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) (Equity Option [Member]) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Equity Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Options to purchase common stock, Shares | 104 | 27 |
Sharebased_Compensation_Additi
Share-based Compensation - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Oct. 28, 2013 | Mar. 31, 2015 | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for grant | 572,000 | ||
Board compensation grant period | 5 days | ||
Exercise period of options | 10 years | ||
Stock option granted | 0 | ||
Issuance of restricted stock awards | 99,000 | ||
Expense related to issuance of restricted stock awards | $1,530 | ||
Employment Agreement [Member] | Chief Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Issuance of restricted stock awards | 99,000 | ||
Expense related to issuance of restricted stock awards | 1,530 | ||
Long Term Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance target for achievement period | 3 years | ||
Minimum [Member] | Graded and Cliff Vesting [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of options | 3 years | ||
Minimum [Member] | Long Term Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of performance target for achievement | 0.00% | ||
Maximum [Member] | Graded and Cliff Vesting [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of options | 5 years | ||
Maximum [Member] | Long Term Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of performance target for achievement | 150.00% | ||
Stock Compensation Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock reserved for issuance pursuant to grants | 1,987,000 | ||
Unrecognized stock-based compensation expense | $2,784 | ||
Period of recognition of stock-based compensation expense | 2 years 6 months | ||
Stock Compensation Plans [Member] | 2007 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for grant | 448,000 | ||
Stock Compensation Plans [Member] | 2011 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for grant | 124,000 | ||
Stock Compensation Plans [Member] | 2015 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for grant | 922,000 | ||
Maximum aggregate number of shares | 350,000 | ||
Plan description | The effective date of the 2015 Plan was April 22, 2015. Subject to adjustments as provided in the 2015 Plan, the maximum aggregate number of shares of the Companybs common stock that may be issued under the 2015 Plan may not exceed the sum of (i) 350 shares plus (ii) any shares (A) remaining available for the grant of awards as of the effective date under the 2007 Plan or the 2011 Plan, and/or (B) subject to an award granted under the 2007 Plan or the 2011 Plan, which award is forfeited, cancelled, terminated, expires, or lapses. As of the effectiveness of the 2015 Plan, there were 922 shares available for grant under the 2015 Plan, inclusive of shares previously available for grant under the 2007 Plan and 2011 Plan that were rolled over to the 2015 Plan. |
Sharebased_Compensation_Fair_V
Share-based Compensation - Fair Value of Option Grants (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Expected volatility | 47.77% |
Expected dividends | 0.00% |
Expected term (in years) | 6 years 5 months 5 days |
Risk-free rate | 1.77% |
Sharebased_Compensation_Summar
Share-based Compensation - Summary of Company's Stock Option Plan Activity (Detail) (USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Number of Shares, Options outstanding, Beginning balance | 896 |
Number of Shares, Granted | 101 |
Number of Shares, Exercised | -37 |
Number of Shares, Forfeited | -10 |
Number of Shares, Expired | 0 |
Number of Shares, Options outstanding, Ending balance | 950 |
Number of Shares, Options exercisable | 625 |
Number of Shares, Available for grant | 572 |
Weighted Average Price Per Share, Options outstanding, Beginning balance | $11.63 |
Weighted Average Price Per Share, Granted | $15.55 |
Weighted Average Price Per Share, Exercised | $8.64 |
Weighted Average Price Per Share, Forfeited | $15.29 |
Weighted Average Price Per Share, Expired | $0 |
Weighted Average Price Per Share, Options outstanding, Ending balance | $12.13 |
Weighted Average Price Per Share, Options exercisable | $9.12 |
Available for grant at March 31, 2015 | 572 |
Weighted Average Remaining Contractual Life (Years), Options outstanding | 4 years 9 months 18 days |
Weighted Average Remaining Contractual Life (Years), Options exercisable | 2 years 8 months 12 days |
Aggregate Intrinsic Value, Options outstanding | $3,650 |
Aggregate Intrinsic Value, Options exercisable | $3,650 |
Sharebased_Compensation_Summar1
Share-based Compensation - Summary of Additional Stock Option Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract] | ||
Weighted-average grant date fair value per award | $7.33 | |
Intrinsic value of options exercised | $258 | $316 |
Fair value of stock options that vested | $439 | $698 |
Sharebased_Compensation_Summar2
Share-based Compensation - Summary of Restricted Stock Unit Activity (Detail) (Restricted Stock Units (RSUs) [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Restricted Stock Units (RSUs) [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Non-vested shares, beginning of the year | 35 |
Shares, Granted | 0 |
Shares, Vested | 0 |
Shares, Forfeited | -5 |
Non-vested shares, end of the year | 30 |
Weighted Average Grant Date Fair Value, Non-vested restricted stock, beginning of the year | $17.76 |
Weighted Average Grant Date Fair Value, Granted | $0 |
Weighted Average Grant Date Fair Value, Vested | $0 |
Weighted Average Grant Date Fair Value, Forfeited | $17.76 |
Weighted Average Grant Date Fair Value, Non-vested restricted stock, end of the period | $17.76 |
Sharebased_Compensation_Summar3
Share-based Compensation - Summary of Cash Settled Performance Shares Activity (Detail) (Performance Shares [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Non-vested shares, beginning of the year | 629 |
Shares, Granted | 0 |
Shares, Vested | 0 |
Shares, Forfeited | -98 |
Non-vested shares, end of the year | 531 |
Weighted Average Grant Date Fair Value, Non-vested restricted stock, beginning of the year | $1 |
Weighted Average Grant Date Fair Value, Granted | $0 |
Weighted Average Grant Date Fair Value, Vested | $0 |
Weighted Average Grant Date Fair Value, Forfeited | $1 |
Weighted Average Grant Date Fair Value, Non-vested restricted stock, end of the period | $1 |
Sharebased_Compensation_Summar4
Share-based Compensation - Summary of Restricted Stock Activity (Detail) (Restricted Stock [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Restricted Stock [Member] | |
Schedule Of Nonvested Restricted Stock Activity [Line Items] | |
Non-vested shares, beginning of the year | 60 |
Shares, Granted | 99 |
Shares, Vested | -99 |
Shares, Forfeited | -10 |
Non-vested shares, end of the year | 50 |
Weighted Average Grant Date Fair Value, Non-vested restricted stock, beginning of the year | $15.91 |
Weighted Average Grant Date Fair Value, Granted | $15.10 |
Weighted Average Grant Date Fair Value, Vested | $15.10 |
Weighted Average Grant Date Fair Value, Forfeited | $17.76 |
Weighted Average Grant Date Fair Value, Non-vested restricted stock, end of the period | $15.53 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
Estimated loss | $497 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Apr. 01, 2015 |
Subsequent Event [Line Items] | |
Number of interest rate cap purchased | 3 |
Notional amount of interest rate cap | $150,000 |
Strike rate | 2.50% |
Interest Rate Caps [Member] | |
Subsequent Event [Line Items] | |
Payment for interest rate cap contracts | $577 |
Maturity period of interest rate caps exchanged | 30-Apr-18 |