Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | RM | |
Entity Registrant Name | Regional Management Corp. | |
Entity Central Index Key | 1,519,401 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 12,893,621 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash | $ 4,793 | $ 4,012 |
Gross finance receivables | 704,862 | 663,432 |
Less unearned finance charges, insurance premiums, and commissions | (132,337) | (117,240) |
Finance receivables | 572,525 | 546,192 |
Allowance for credit losses | (36,171) | (40,511) |
Net finance receivables | 536,354 | 505,681 |
Property and equipment, net of accumulated depreciation | 8,646 | 8,905 |
Deferred tax asset, net | 2,305 | 1,870 |
Repossessed assets at net realizable value | 407 | 556 |
Goodwill | 716 | 716 |
Intangible assets, net | 655 | 847 |
Other assets | 7,105 | 7,683 |
Total assets | 560,981 | 530,270 |
Liabilities: | ||
Senior revolving credit facility | 359,491 | 341,419 |
Accounts payable and accrued expenses | 10,733 | 10,528 |
Total liabilities | $ 370,224 | $ 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, 12,889 and 12,748 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively | $ 1,289 | $ 1,275 |
Additional paid-in-capital | 88,584 | 85,655 |
Retained earnings | 100,884 | 91,393 |
Total stockholders' equity | 190,757 | 178,323 |
Total liabilities and stockholders' equity | $ 560,981 | $ 530,270 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
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 | 12,889 | 12,748 |
Common stock, shares outstanding | 12,889 | 12,748 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenue | ||||
Interest and fee income | $ 47,668 | $ 42,962 | $ 94,733 | $ 87,041 |
Insurance income, net | 3,120 | 2,481 | 6,049 | 5,776 |
Other income | 2,213 | 1,994 | 4,743 | 4,201 |
Total revenue | 53,001 | 47,437 | 105,525 | 97,018 |
Expenses | ||||
Provision for credit losses | 12,102 | 13,620 | 21,814 | 30,564 |
Personnel | 16,211 | 13,068 | 35,971 | 24,242 |
Occupancy | 4,256 | 3,713 | 8,381 | 7,133 |
Marketing | 2,009 | 1,750 | 4,480 | 2,732 |
Other | 5,767 | 4,667 | 12,034 | 8,990 |
Total general and administrative expenses | 28,243 | 23,198 | 60,866 | 43,097 |
Interest expense | 3,932 | 3,556 | 7,536 | 7,319 |
Income before income taxes | 8,724 | 7,063 | 15,309 | 16,038 |
Income taxes | 3,316 | 2,649 | 5,818 | 6,014 |
Net income | $ 5,408 | $ 4,414 | $ 9,491 | $ 10,024 |
Net income per common share: | ||||
Basic | $ 0.42 | $ 0.35 | $ 0.74 | $ 0.79 |
Diluted | $ 0.41 | $ 0.34 | $ 0.73 | $ 0.77 |
Weighted average shares outstanding: | ||||
Basic | 12,845 | 12,691 | 12,812 | 12,673 |
Diluted | 13,078 | 12,916 | 13,040 | 12,958 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in-Capital [Member] | Retained Earnings [Member] |
Beginning Balance at Dec. 31, 2013 | $ 161,173 | $ 1,265 | $ 83,317 | $ 76,591 |
Beginning Balance, shares at Dec. 31, 2013 | 12,652 | |||
Issuance of restricted stock awards | $ 7 | (7) | ||
Issuance of restricted stock awards, shares | 73 | |||
Exercise of stock options | 123 | $ 5 | 118 | |
Exercise of stock options, shares | 46 | |||
Excess tax benefit from exercise of stock options | 161 | 161 | ||
Shares withheld related to net share settlement | (196) | $ (2) | (194) | |
Shares withheld related to net share settlement, shares | (23) | |||
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 |
Ending Balance, shares at Dec. 31, 2014 | 12,748 | |||
Issuance of restricted stock awards, net of forfeiture | $ 11 | (11) | ||
Issuance of restricted stock awards, shares | 106 | |||
Exercise of stock options | $ 9 | $ 9 | ||
Exercise of stock options, shares | 95 | 95 | ||
Excess tax benefit from exercise of stock options | $ 196 | 196 | ||
Shares withheld related to net share settlement | (322) | $ (6) | (316) | |
Shares withheld related to net share settlement, shares | (60) | |||
Share-based compensation | 3,060 | 3,060 | ||
Net income | 9,491 | 9,491 | ||
Ending Balance at Jun. 30, 2015 | $ 190,757 | $ 1,289 | $ 88,584 | $ 100,884 |
Ending Balance, shares at Jun. 30, 2015 | 12,889 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 9,491 | $ 10,024 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 21,814 | 30,564 |
Depreciation and amortization | 1,771 | 2,034 |
Loss on disposal of property and equipment | 339 | 3 |
Accretion of discounts on purchased receivables | (13) | (58) |
Share-based compensation | 3,223 | 473 |
Fair value adjustment on interest rate caps | 172 | |
Deferred income taxes, net | (435) | (1,806) |
Changes in operating assets and liabilities: | ||
(Increase) decrease in other assets | 341 | (1,656) |
Increase (decrease) in other liabilities | 182 | (593) |
Net cash provided by operating activities | 36,885 | 38,985 |
Cash flows from investing activities: | ||
Net repayment (origination) of finance receivables | (52,474) | 698 |
Purchase of property and equipment | (1,428) | (2,249) |
Net cash used in investing activities | (53,902) | (1,551) |
Cash flows from financing activities: | ||
Net advances (payments) on senior revolving credit facility | 18,072 | (38,180) |
Payments for debt issuance costs | (16) | (3) |
Proceeds from exercise of stock options | 90 | |
Excess tax benefits from exercise of stock options | 244 | 100 |
Taxes paid related to net share settlement of equity awards | (502) | |
Net cash provided by (used in) financing activities | 17,798 | (37,993) |
Net change in cash | 781 | (559) |
Cash at beginning of period | 4,012 | 4,121 |
Cash at end of period | 4,793 | 3,562 |
Supplemental cash flow information | ||
Interest paid | 7,134 | 7,022 |
Income taxes paid | $ 5,774 | $ 8,034 |
Nature of Business
Nature of Business | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | Note 1. Nature of Business Regional Management Corp. (the “ Company we us our Seasonality: |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | Note 2. Basis of Presentation and Significant Accounting Policies Basis of presentation: SEC GAAP Significant accounting policies: Principles of consolidation: Use of 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: |
Finance Receivables, Allowance
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information | 6 Months Ended |
Jun. 30, 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: June 30, 2015 December 31, 2014 Branch small loans $ 140,161 $ 128,217 Convenience checks 174,786 191,316 Large loans 93,203 46,147 Automobile loans 139,593 154,382 Retail loans 24,782 26,130 Finance receivables $ 572,525 $ 546,192 Changes in the allowance for credit losses for the periods indicated are as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 36,950 $ 34,325 $ 40,511 $ 30,089 Provision for credit losses 12,102 13,620 21,814 30,564 Charge-offs (13,439 ) (13,789 ) (27,548 ) (26,886 ) Recoveries 558 428 1,394 817 Balance at end of period $ 36,171 $ 34,584 $ 36,171 $ 34,584 The following is a reconciliation of the allowance for credit losses by product for the periods indicated: Balance 2015 Provision Charge-offs Recoveries Balance 2015 Finance Allowance as Branch small loans $ 6,750 $ 3,487 $ (3,230 ) $ 131 $ 7,138 $ 140,161 5.1 % Convenience checks 13,790 4,322 (7,133 ) 226 11,205 174,786 6.4 % Large loans 3,119 2,693 (492 ) 44 5,364 93,203 5.8 % Automobile loans 11,833 1,314 (2,153 ) 127 11,121 139,593 8.0 % Retail loans 1,458 286 (431 ) 30 1,343 24,782 5.4 % Total $ 36,950 $ 12,102 $ (13,439 ) $ 558 $ 36,171 $ 572,525 6.3 % Balance 2014 Provision Charge-offs Recoveries Balance 2014 Finance Allowance as Branch small loans $ 6,034 $ 3,340 $ (3,177 ) $ 103 $ 6,300 $ 107,598 5.9 % Convenience checks 12,448 7,300 (6,868 ) 124 13,004 167,858 7.7 % Large loans 2,150 314 (566 ) 88 1,986 42,996 4.6 % Automobile loans 11,883 2,117 (2,529 ) 84 11,555 171,777 6.7 % Retail loans 1,810 549 (649 ) 29 1,739 27,746 6.3 % Total $ 34,325 $ 13,620 $ (13,789 ) $ 428 $ 34,584 $ 517,975 6.7 % Balance Provision Charge-offs Recoveries Balance 2015 Finance Allowance as Branch small loans $ 6,960 $ 6,414 $ (6,563 ) $ 327 $ 7,138 $ 140,161 5.1 % Convenience checks 18,320 6,029 (13,660 ) 516 11,205 174,786 6.4 % Large loans 1,980 4,270 (1,004 ) 118 5,364 93,203 5.8 % Automobile loans 11,776 4,433 (5,457 ) 369 11,121 139,593 8.0 % Retail loans 1,475 668 (864 ) 64 1,343 24,782 5.4 % Total $ 40,511 $ 21,814 $ (27,548 ) $ 1,394 $ 36,171 $ 572,525 6.3 % Balance Provision Charge-offs Recoveries Balance 2014 Finance Allowance as Branch small loans $ 5,166 $ 6,862 $ (5,940 ) $ 212 $ 6,300 $ 107,598 5.9 % Convenience checks 10,204 15,414 (12,843 ) 229 13,004 167,858 7.7 % Large loans 2,233 643 (1,066 ) 176 1,986 42,996 4.6 % Automobile loans 10,827 6,262 (5,680 ) 146 11,555 171,777 6.7 % Retail loans 1,659 1,383 (1,357 ) 54 1,739 27,746 6.3 % Total $ 30,089 $ 30,564 $ (26,886 ) $ 817 $ 34,584 $ 517,975 6.7 % Finance receivables associated with customers in bankruptcy as a percentage of total finance receivables was 1.1% as of June 30, 2015 and December 31, 2014. The following is a summary of the finance receivables associated with customers in bankruptcy as of the periods indicated: June 30, 2015 December 31, 2014 Branch small loans $ 615 $ 582 Convenience checks 521 544 Large loans 1,335 1,260 Automobile loans 3,625 3,698 Retail loans 127 119 Total $ 6,223 $ 6,203 The contractual delinquency of the finance receivable portfolio by component for the periods indicated are as follows: June 30, 2015 Branch Small Convenience Check Large Automobile Retail Total $ % $ % $ % $ % $ % $ % Current $ 112,740 80.4 % $ 143,057 81.8 % $ 80,157 86.1 % $ 97,983 70.2 % $ 20,487 82.7 % $ 454,424 79.4 % 1 to 29 days past due 16,617 11.9 % 18,168 10.4 % 10,298 11.0 % 32,991 23.6 % 3,201 12.9 % 81,275 14.2 % Delinquent accounts 30 to 59 days 3,908 2.7 % 4,386 2.5 % 1,385 1.5 % 4,570 3.3 % 416 1.6 % 14,665 2.5 % 60 to 89 days 2,453 1.8 % 2,962 1.7 % 586 0.6 % 1,873 1.3 % 239 1.0 % 8,113 1.4 % 90 to 119 days 1,763 1.3 % 2,236 1.3 % 360 0.3 % 1,086 0.8 % 188 0.8 % 5,633 1.0 % 120 to 149 days 1,413 1.0 % 2,017 1.2 % 260 0.3 % 778 0.6 % 129 0.5 % 4,597 0.8 % 150 to 179 days 1,267 0.9 % 1,960 1.1 % 157 0.2 % 312 0.2 % 122 0.5 % 3,818 0.7 % Total delinquency $ 10,804 7.7 % $ 13,561 7.8 % $ 2,748 2.9 % $ 8,619 6.2 % $ 1,094 4.4 % $ 36,826 6.4 % Total finance receivables $ 140,161 100.0 % $ 174,786 100.0 % $ 93,203 100.0 % $ 139,593 100.0 % $ 24,782 100.0 % $ 572,525 100.0 % Finance receivables in nonaccrual status $ 4,443 3.2 % $ 6,213 3.6 % $ 777 0.8 % $ 2,176 1.6 % $ 439 1.8 % $ 14,048 2.5 % December 31, 2014 Branch Small Convenience Check Large Automobile Retail Total $ % $ % $ % $ % $ % $ % Current $ 104,003 81.1 % $ 154,833 80.9 % $ 36,658 79.4 % $ 105,424 68.3 % $ 21,424 82.0 % $ 422,342 77.4 % 1 to 29 days past due 13,967 10.9 % 19,318 10.1 % 7,383 16.0 % 38,656 25.0 % 3,390 13.0 % 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 1.0 % 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 1.0 % 120 0.3 % 513 0.3 % 117 0.4 % 3,674 0.7 % Total delinquency $ 10,247 8.0 % $ 17,165 9.0 % $ 2,106 4.6 % $ 10,302 6.7 % $ 1,316 5.0 % $ 41,136 7.5 % Total finance receivables $ 128,217 100.0 % $ 191,316 100.0 % $ 46,147 100.0 % $ 154,382 100.0 % $ 26,130 100.0 % $ 546,192 100.0 % Finance receivables in nonaccrual status $ 4,325 3.4 % $ 7,589 4.0 % $ 587 1.3 % $ 2,537 1.6 % $ 523 2.0 % $ 15,561 2.8 % Following is a summary of finance receivables evaluated for impairment for the periods indicated: June 30, 2015 Branch Convenience Large Automobile Retail Total Customers in bankruptcy specifically evaluated $ 615 $ 521 $ 1,335 $ 3,625 $ 127 $ 6,223 Finance receivables evaluated collectively 139,546 174,265 91,868 135,968 24,655 566,302 Finance receivables outstanding $ 140,161 $ 174,786 $ 93,203 $ 139,593 $ 24,782 $ 572,525 Accounts in bankruptcy in nonaccrual status $ 98 $ 81 $ 92 $ 135 $ 18 $ 424 Amount of the specific reserve for impaired accounts $ 164 $ 133 $ 376 $ 946 $ 19 $ 1,638 Amount of the general component of the allowance $ 6,974 $ 11,072 $ 4,988 $ 10,175 $ 1,324 $ 34,533 December 31, 2014 Branch Convenience Large Automobile Retail Total Customers in 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 Amount of the general component of the allowance $ 6,817 $ 18,155 $ 1,671 $ 10,795 $ 1,457 $ 38,895 Average recorded investment in impaired finance receivables for the periods indicated are as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 Branch small $ 526 $ 1,470 $ 521 $ 1,632 Convenience check 618 1,315 605 1,349 Large 1,276 1,796 1,271 1,828 Automobile 3,603 4,305 3,637 4,303 Retail 130 280 126 311 Total average recorded investment $ 6,153 $ 9,166 $ 6,160 $ 9,423 Impaired finance receivables previously included receivables that were delinquent 180 days and over. Beginning in September 2014, finance receivables that reach 180 days delinquent are charged-off. It is not practical to compute the amount of interest earned on impaired loans. |
Debt
Debt | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Note 4. Debt The Company’s senior revolving credit facility contains restrictive covenants. At June 30, 2015, the Company was in compliance with all debt covenants. As of June 30, 2015, the Company had $140,509 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 (84% as of June 30, 2015). |
Interest Rate Caps
Interest Rate Caps | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Interest Rate Caps | Note 5. Interest Rate Caps On April 1, 2015, the Company purchased interest rate caps. The interest rate cap contracts have an aggregate notional principal amount of $150,000, a 2.5% strike rate against one-month LIBOR rates, and mature in April 2018. When the one-month LIBOR exceeds 2.5%, the counterparty reimburses the Company for the excess over 2.5%. No payment is required by the Company or the counterparty when the one-month LIBOR is below 2.5%. The following is a summary of changes in the rate caps: Three Months Ended Six Months Ended Balance at beginning of period $ — $ — Purchases 577 577 Fair value adjustment included as an (increase) in interest expense (172 ) (172 ) Balance sheet at end of period, included in other assets $ 405 $ 405 |
Disclosure About Fair Value of
Disclosure About Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Disclosure About Fair Value of Financial Instruments | Note 6. 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: Interest rate caps: Repossessed assets: Debt: The carrying amount and estimated fair values of the Company’s financial instruments summarized by level are as follows: June 30, 2015 December 31, 2014 Carrying Estimated Carrying Estimated Assets Level 1 inputs Cash $ 4,793 $ 4,793 $ 4,012 $ 4,012 Restricted cash 1,900 1,900 1,900 1,900 Level 2 inputs Interest rate caps 405 405 — — Level 3 inputs Net finance receivables 536,354 536,354 505,681 505,681 Repossessed assets 407 407 556 556 Liabilities Level 3 inputs Senior revolving credit facility 359,491 359,491 341,419 341,419 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. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 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 Six Months Ended 2015 2014 2015 2014 Numerator: Net income $ 5,408 $ 4,414 $ 9,491 $ 10,024 Denominator: Weighted average shares outstanding for basic earnings per share 12,845 12,691 12,812 12,673 Effect of dilutive securities 233 225 228 285 Weighted average shares adjusted for dilutive securities 13,078 12,916 13,040 12,958 Earnings per share: Basic $ 0.42 $ 0.35 $ 0.74 $ 0.79 Diluted $ 0.41 $ 0.34 $ 0.73 $ 0.77 Options to purchase 477 and 405 shares of common stock were outstanding during the three and six months ended June 30, 2015 and 2014, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 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 2011 Plan 2015 Plan As of June 30, 2015, unrecognized share-based compensation expense to be recognized over future periods approximated $6,851. This amount will be recognized as expense over a weighted-average period of 2.3 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: RSU PS Inducement and retention program: Board compensation program: The following are the terms and amounts of the awards issued under the Company’s share-based incentive programs: Stock options: 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 six months ended June 30, 2015. No stock options were granted in the three or six months ended June 30, 2014. 2015 Expected volatility 47.18 % Expected dividends 0.00 % Expected term (in years) 6.17 Risk-free rate 1.62 % Expected volatility is based on the Company’s historical stock price volatility. The expected term is calculated by using the simplified method (average of the vesting and original contractual terms) 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 six months ended June 30, 2015: Number of Weighted- Price Weighted- Aggregate Options outstanding, beginning of the year 896 $ 11.63 Granted 297 15.26 Exercised (95 ) 6.96 Forfeited (17 ) 16.03 Expired — — Options outstanding at June 30, 2015 1,081 $ 12.97 5.5 $ 5,713 Options exercisable at June 30, 2015 629 $ 10.26 3.0 $ 4,872 Available for grant at June 30, 2015 580 The following table provides additional stock option information. Three Months Ended Six Months Ended 2015 2014 2015 2014 Weighted-average grant date fair value per share $ 6.95 $ — $ 7.08 $ — Intrinsic value of options exercised $ 636 $ 316 $ 894 $ 316 Fair value of stock options that vested $ 411 $ 698 $ 851 $ 698 Restricted stock units: The following table summarizes restricted stock unit activity during the six months ended June 30, 2015. No restricted stock units were granted in the three or six months ended June 30, 2014: Units Weighted-Average Fair Value Non-vested units, beginning of the year 35 $ 17.76 Granted 92 14.75 Vested — — Forfeited (7 ) 17.76 Non-vested units, at June 30, 2015 120 $ 15.46 The following table provides additional restricted stock unit information. Three Months Ended Six Months Ended 2015 2014 2015 2014 Weighted-average grant date fair value per unit $ 14.75 $ — $ 14.75 $ — Cash-settled performance units: The following table summarizes cash-settled performance unit activity during the six months ended June 30, 2015. No cash-settled performance units were granted in the three or six months ended June 30, 2014: Units Weighted-Average Fair Value Non-vested units, beginning of the year 629 $ 1.00 Granted 1,357 1.00 Vested — — Forfeited (125 ) 1.00 Non-vested units, at June 30, 2015 1,861 $ 1.00 Restricted stock awards: 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 six months ended June 30, 2015. The following table summarizes restricted stock activity during the six months ended June 30, 2015: Shares Weighted-Average Fair Value Non-vested shares, beginning of the year 60 $ 15.91 Granted 118 15.29 Vested (145 ) 15.17 Forfeited (12 ) 17.76 Non-vested shares, at June 30, 2015 21 $ 16.47 The following table provides additional restricted stock information. Three Months Ended Six Months Ended 2015 2014 2015 2014 Weighted-average grant date fair value per share $ 16.30 $ 15.34 $ 15.29 $ 15.34 Fair value of restricted stock awards that vested $ 698 $ — $ 2,198 $ — |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 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 1933 Act Claims Plaintiffs 1934 Act Claims 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 June 30, 2015, the Company has accrued $523 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. |
Basis of Presentation and Sig16
Basis of Presentation and Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation: SEC GAAP |
Principles of consolidation | Principles of consolidation: |
Use of estimates | Use of 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: |
Finance Receivables, Allowanc17
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Finance Receivables | Finance receivables consisted of the following: June 30, 2015 December 31, 2014 Branch small loans $ 140,161 $ 128,217 Convenience checks 174,786 191,316 Large loans 93,203 46,147 Automobile loans 139,593 154,382 Retail loans 24,782 26,130 Finance receivables $ 572,525 $ 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 Six Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 36,950 $ 34,325 $ 40,511 $ 30,089 Provision for credit losses 12,102 13,620 21,814 30,564 Charge-offs (13,439 ) (13,789 ) (27,548 ) (26,886 ) Recoveries 558 428 1,394 817 Balance at end of period $ 36,171 $ 34,584 $ 36,171 $ 34,584 |
Reconciliation of Allowance for Credit Losses | The following is a reconciliation of the allowance for credit losses by product for the periods indicated: Balance 2015 Provision Charge-offs Recoveries Balance 2015 Finance Allowance as Branch small loans $ 6,750 $ 3,487 $ (3,230 ) $ 131 $ 7,138 $ 140,161 5.1 % Convenience checks 13,790 4,322 (7,133 ) 226 11,205 174,786 6.4 % Large loans 3,119 2,693 (492 ) 44 5,364 93,203 5.8 % Automobile loans 11,833 1,314 (2,153 ) 127 11,121 139,593 8.0 % Retail loans 1,458 286 (431 ) 30 1,343 24,782 5.4 % Total $ 36,950 $ 12,102 $ (13,439 ) $ 558 $ 36,171 $ 572,525 6.3 % Balance 2014 Provision Charge-offs Recoveries Balance 2014 Finance Allowance as Branch small loans $ 6,034 $ 3,340 $ (3,177 ) $ 103 $ 6,300 $ 107,598 5.9 % Convenience checks 12,448 7,300 (6,868 ) 124 13,004 167,858 7.7 % Large loans 2,150 314 (566 ) 88 1,986 42,996 4.6 % Automobile loans 11,883 2,117 (2,529 ) 84 11,555 171,777 6.7 % Retail loans 1,810 549 (649 ) 29 1,739 27,746 6.3 % Total $ 34,325 $ 13,620 $ (13,789 ) $ 428 $ 34,584 $ 517,975 6.7 % Balance Provision Charge-offs Recoveries Balance 2015 Finance Allowance as Branch small loans $ 6,960 $ 6,414 $ (6,563 ) $ 327 $ 7,138 $ 140,161 5.1 % Convenience checks 18,320 6,029 (13,660 ) 516 11,205 174,786 6.4 % Large loans 1,980 4,270 (1,004 ) 118 5,364 93,203 5.8 % Automobile loans 11,776 4,433 (5,457 ) 369 11,121 139,593 8.0 % Retail loans 1,475 668 (864 ) 64 1,343 24,782 5.4 % Total $ 40,511 $ 21,814 $ (27,548 ) $ 1,394 $ 36,171 $ 572,525 6.3 % Balance Provision Charge-offs Recoveries Balance 2014 Finance Allowance as Branch small loans $ 5,166 $ 6,862 $ (5,940 ) $ 212 $ 6,300 $ 107,598 5.9 % Convenience checks 10,204 15,414 (12,843 ) 229 13,004 167,858 7.7 % Large loans 2,233 643 (1,066 ) 176 1,986 42,996 4.6 % Automobile loans 10,827 6,262 (5,680 ) 146 11,555 171,777 6.7 % Retail loans 1,659 1,383 (1,357 ) 54 1,739 27,746 6.3 % Total $ 30,089 $ 30,564 $ (26,886 ) $ 817 $ 34,584 $ 517,975 6.7 % |
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: June 30, 2015 December 31, 2014 Branch small loans $ 615 $ 582 Convenience checks 521 544 Large loans 1,335 1,260 Automobile loans 3,625 3,698 Retail loans 127 119 Total $ 6,223 $ 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: June 30, 2015 Branch Small Convenience Check Large Automobile Retail Total $ % $ % $ % $ % $ % $ % Current $ 112,740 80.4 % $ 143,057 81.8 % $ 80,157 86.1 % $ 97,983 70.2 % $ 20,487 82.7 % $ 454,424 79.4 % 1 to 29 days past due 16,617 11.9 % 18,168 10.4 % 10,298 11.0 % 32,991 23.6 % 3,201 12.9 % 81,275 14.2 % Delinquent accounts 30 to 59 days 3,908 2.7 % 4,386 2.5 % 1,385 1.5 % 4,570 3.3 % 416 1.6 % 14,665 2.5 % 60 to 89 days 2,453 1.8 % 2,962 1.7 % 586 0.6 % 1,873 1.3 % 239 1.0 % 8,113 1.4 % 90 to 119 days 1,763 1.3 % 2,236 1.3 % 360 0.3 % 1,086 0.8 % 188 0.8 % 5,633 1.0 % 120 to 149 days 1,413 1.0 % 2,017 1.2 % 260 0.3 % 778 0.6 % 129 0.5 % 4,597 0.8 % 150 to 179 days 1,267 0.9 % 1,960 1.1 % 157 0.2 % 312 0.2 % 122 0.5 % 3,818 0.7 % Total delinquency $ 10,804 7.7 % $ 13,561 7.8 % $ 2,748 2.9 % $ 8,619 6.2 % $ 1,094 4.4 % $ 36,826 6.4 % Total finance receivables $ 140,161 100.0 % $ 174,786 100.0 % $ 93,203 100.0 % $ 139,593 100.0 % $ 24,782 100.0 % $ 572,525 100.0 % Finance receivables in nonaccrual status $ 4,443 3.2 % $ 6,213 3.6 % $ 777 0.8 % $ 2,176 1.6 % $ 439 1.8 % $ 14,048 2.5 % December 31, 2014 Branch Small Convenience Check Large Automobile Retail Total $ % $ % $ % $ % $ % $ % Current $ 104,003 81.1 % $ 154,833 80.9 % $ 36,658 79.4 % $ 105,424 68.3 % $ 21,424 82.0 % $ 422,342 77.4 % 1 to 29 days past due 13,967 10.9 % 19,318 10.1 % 7,383 16.0 % 38,656 25.0 % 3,390 13.0 % 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 1.0 % 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 1.0 % 120 0.3 % 513 0.3 % 117 0.4 % 3,674 0.7 % Total delinquency $ 10,247 8.0 % $ 17,165 9.0 % $ 2,106 4.6 % $ 10,302 6.7 % $ 1,316 5.0 % $ 41,136 7.5 % Total finance receivables $ 128,217 100.0 % $ 191,316 100.0 % $ 46,147 100.0 % $ 154,382 100.0 % $ 26,130 100.0 % $ 546,192 100.0 % Finance receivables in nonaccrual status $ 4,325 3.4 % $ 7,589 4.0 % $ 587 1.3 % $ 2,537 1.6 % $ 523 2.0 % $ 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: June 30, 2015 Branch Convenience Large Automobile Retail Total Customers in bankruptcy specifically evaluated $ 615 $ 521 $ 1,335 $ 3,625 $ 127 $ 6,223 Finance receivables evaluated collectively 139,546 174,265 91,868 135,968 24,655 566,302 Finance receivables outstanding $ 140,161 $ 174,786 $ 93,203 $ 139,593 $ 24,782 $ 572,525 Accounts in bankruptcy in nonaccrual status $ 98 $ 81 $ 92 $ 135 $ 18 $ 424 Amount of the specific reserve for impaired accounts $ 164 $ 133 $ 376 $ 946 $ 19 $ 1,638 Amount of the general component of the allowance $ 6,974 $ 11,072 $ 4,988 $ 10,175 $ 1,324 $ 34,533 December 31, 2014 Branch Convenience Large Automobile Retail Total Customers in 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 Amount of the general component of the allowance $ 6,817 $ 18,155 $ 1,671 $ 10,795 $ 1,457 $ 38,895 |
Schedule of Average Recorded Investment in Impaired Finance Receivables | Average recorded investment in impaired finance receivables for the periods indicated are as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 Branch small $ 526 $ 1,470 $ 521 $ 1,632 Convenience check 618 1,315 605 1,349 Large 1,276 1,796 1,271 1,828 Automobile 3,603 4,305 3,637 4,303 Retail 130 280 126 311 Total average recorded investment $ 6,153 $ 9,166 $ 6,160 $ 9,423 |
Interest Rate Caps (Tables)
Interest Rate Caps (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Changes in Rate Caps | The following is a summary of changes in the rate caps: Three Months Ended Six Months Ended Balance at beginning of period $ — $ — Purchases 577 577 Fair value adjustment included as an (increase) in interest expense (172 ) (172 ) Balance sheet at end of period, included in other assets $ 405 $ 405 |
Disclosure About Fair Value o19
Disclosure About Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 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: June 30, 2015 December 31, 2014 Carrying Estimated Carrying Estimated Assets Level 1 inputs Cash $ 4,793 $ 4,793 $ 4,012 $ 4,012 Restricted cash 1,900 1,900 1,900 1,900 Level 2 inputs Interest rate caps 405 405 — — Level 3 inputs Net finance receivables 536,354 536,354 505,681 505,681 Repossessed assets 407 407 556 556 Liabilities Level 3 inputs Senior revolving credit facility 359,491 359,491 341,419 341,419 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 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 Six Months Ended 2015 2014 2015 2014 Numerator: Net income $ 5,408 $ 4,414 $ 9,491 $ 10,024 Denominator: Weighted average shares outstanding for basic earnings per share 12,845 12,691 12,812 12,673 Effect of dilutive securities 233 225 228 285 Weighted average shares adjusted for dilutive securities 13,078 12,916 13,040 12,958 Earnings per share: Basic $ 0.42 $ 0.35 $ 0.74 $ 0.79 Diluted $ 0.41 $ 0.34 $ 0.73 $ 0.77 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 six months ended June 30, 2015. No stock options were granted in the three or six months ended June 30, 2014. 2015 Expected volatility 47.18 % Expected dividends 0.00 % Expected term (in years) 6.17 Risk-free rate 1.62 % |
Summary of Company's Stock Option Plan Activity | The following table summarizes the stock option activity for the six months ended June 30, 2015: Number of Weighted- Price Weighted- Aggregate Options outstanding, beginning of the year 896 $ 11.63 Granted 297 15.26 Exercised (95 ) 6.96 Forfeited (17 ) 16.03 Expired — — Options outstanding at June 30, 2015 1,081 $ 12.97 5.5 $ 5,713 Options exercisable at June 30, 2015 629 $ 10.26 3.0 $ 4,872 Available for grant at June 30, 2015 580 |
Summary of Additional Stock Option Information | The following table provides additional stock option information. Three Months Ended Six Months Ended 2015 2014 2015 2014 Weighted-average grant date fair value per share $ 6.95 $ — $ 7.08 $ — Intrinsic value of options exercised $ 636 $ 316 $ 894 $ 316 Fair value of stock options that vested $ 411 $ 698 $ 851 $ 698 |
Summary of Restricted Stock Unit Activity | The following table summarizes restricted stock unit activity during the six months ended June 30, 2015. No restricted stock units were granted in the three or six months ended June 30, 2014: Units Weighted-Average Fair Value Non-vested units, beginning of the year 35 $ 17.76 Granted 92 14.75 Vested — — Forfeited (7 ) 17.76 Non-vested units, at June 30, 2015 120 $ 15.46 |
Summary of Cash Settled Performance Shares Activity | The following table summarizes cash-settled performance unit activity during the six months ended June 30, 2015. No cash-settled performance units were granted in the three or six months ended June 30, 2014: Units Weighted-Average Fair Value Non-vested units, beginning of the year 629 $ 1.00 Granted 1,357 1.00 Vested — — Forfeited (125 ) 1.00 Non-vested units, at June 30, 2015 1,861 $ 1.00 |
Summary of Restricted Stock Activity | The following table summarizes restricted stock activity during the six months ended June 30, 2015: Shares Weighted-Average Fair Value Non-vested shares, beginning of the year 60 $ 15.91 Granted 118 15.29 Vested (145 ) 15.17 Forfeited (12 ) 17.76 Non-vested shares, at June 30, 2015 21 $ 16.47 |
Restricted Stock [Member] | |
Summary of Additional Restricted Stock Information | The following table provides additional restricted stock information. Three Months Ended Six Months Ended 2015 2014 2015 2014 Weighted-average grant date fair value per share $ 16.30 $ 15.34 $ 15.29 $ 15.34 Fair value of restricted stock awards that vested $ 698 $ — $ 2,198 $ — |
Restricted Stock Units (RSUs) [Member] | |
Summary of Additional Restricted Stock Information | The following table provides additional restricted stock unit information. Three Months Ended Six Months Ended 2015 2014 2015 2014 Weighted-average grant date fair value per unit $ 14.75 $ — $ 14.75 $ — |
Nature of Business - Additional
Nature of Business - Additional Information (Detail) - Jun. 30, 2015 | LocationOffice |
Nature Of Business And Significant Accounting Policies [Line Items] | |
Number of locations | 316 |
Number of offices opened | Office | 10 |
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 | 17 |
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 | 28 |
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 | 93 |
Finance Receivables, Allowanc23
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Summary of Finance Receivables (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | $ 572,525 | $ 546,192 | $ 517,975 |
Branch Small [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 140,161 | 128,217 | 107,598 |
Convenience Checks [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 174,786 | 191,316 | 167,858 |
Large [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 93,203 | 46,147 | 42,996 |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | 139,593 | 154,382 | 171,777 |
Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance receivables | $ 24,782 | $ 26,130 | $ 27,746 |
Finance Receivables, Allowanc24
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Receivables [Abstract] | ||||
Balance at beginning of period | $ 36,950 | $ 34,325 | $ 40,511 | $ 30,089 |
Provision for credit losses | 12,102 | 13,620 | 21,814 | 30,564 |
Charge-offs | (13,439) | (13,789) | (27,548) | (26,886) |
Recoveries | 558 | 428 | 1,394 | 817 |
Balance at end of period | $ 36,171 | $ 34,584 | $ 36,171 | $ 34,584 |
Finance Receivables, Allowanc25
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Reconciliation of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance at beginning of period | $ 36,950 | $ 34,325 | $ 40,511 | $ 30,089 | |
Provision | 12,102 | 13,620 | 21,814 | 30,564 | |
Charge-offs | (13,439) | (13,789) | (27,548) | (26,886) | |
Recoveries | 558 | 428 | 1,394 | 817 | |
Balance at end of period | 36,171 | 34,584 | 36,171 | 34,584 | |
Finance receivables | $ 572,525 | $ 517,975 | $ 572,525 | $ 517,975 | $ 546,192 |
Allowance as Percentage of Finance Receivable | 6.30% | 6.70% | 6.30% | 6.70% | |
Branch Small [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance at beginning of period | $ 6,750 | $ 6,034 | $ 6,960 | $ 5,166 | |
Provision | 3,487 | 3,340 | 6,414 | 6,862 | |
Charge-offs | (3,230) | (3,177) | (6,563) | (5,940) | |
Recoveries | 131 | 103 | 327 | 212 | |
Balance at end of period | 7,138 | 6,300 | 7,138 | 6,300 | |
Finance receivables | $ 140,161 | $ 107,598 | $ 140,161 | $ 107,598 | 128,217 |
Allowance as Percentage of Finance Receivable | 5.10% | 5.90% | 5.10% | 5.90% | |
Convenience Checks [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance at beginning of period | $ 13,790 | $ 12,448 | $ 18,320 | $ 10,204 | |
Provision | 4,322 | 7,300 | 6,029 | 15,414 | |
Charge-offs | (7,133) | (6,868) | (13,660) | (12,843) | |
Recoveries | 226 | 124 | 516 | 229 | |
Balance at end of period | 11,205 | 13,004 | 11,205 | 13,004 | |
Finance receivables | $ 174,786 | $ 167,858 | $ 174,786 | $ 167,858 | 191,316 |
Allowance as Percentage of Finance Receivable | 6.40% | 7.70% | 6.40% | 7.70% | |
Large [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance at beginning of period | $ 3,119 | $ 2,150 | $ 1,980 | $ 2,233 | |
Provision | 2,693 | 314 | 4,270 | 643 | |
Charge-offs | (492) | (566) | (1,004) | (1,066) | |
Recoveries | 44 | 88 | 118 | 176 | |
Balance at end of period | 5,364 | 1,986 | 5,364 | 1,986 | |
Finance receivables | $ 93,203 | $ 42,996 | $ 93,203 | $ 42,996 | 46,147 |
Allowance as Percentage of Finance Receivable | 5.80% | 4.60% | 5.80% | 4.60% | |
Automobile [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance at beginning of period | $ 11,833 | $ 11,883 | $ 11,776 | $ 10,827 | |
Provision | 1,314 | 2,117 | 4,433 | 6,262 | |
Charge-offs | (2,153) | (2,529) | (5,457) | (5,680) | |
Recoveries | 127 | 84 | 369 | 146 | |
Balance at end of period | 11,121 | 11,555 | 11,121 | 11,555 | |
Finance receivables | $ 139,593 | $ 171,777 | $ 139,593 | $ 171,777 | 154,382 |
Allowance as Percentage of Finance Receivable | 8.00% | 6.70% | 8.00% | 6.70% | |
Retail [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance at beginning of period | $ 1,458 | $ 1,810 | $ 1,475 | $ 1,659 | |
Provision | 286 | 549 | 668 | 1,383 | |
Charge-offs | (431) | (649) | (864) | (1,357) | |
Recoveries | 30 | 29 | 64 | 54 | |
Balance at end of period | 1,343 | 1,739 | 1,343 | 1,739 | |
Finance receivables | $ 24,782 | $ 27,746 | $ 24,782 | $ 27,746 | $ 26,130 |
Allowance as Percentage of Finance Receivable | 5.40% | 6.30% | 5.40% | 6.30% |
Finance Receivables, Allowanc26
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Additional Information (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Receivables [Abstract] | ||
Finance receivables | 1.10% | 1.10% |
Contractual delinquent period of loans | 180 days |
Finance Receivables, Allowanc27
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Finance Receivables Associated with Customers in Bankruptcy (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | $ 6,223 | $ 6,203 |
Branch Small [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 615 | 582 |
Convenience Checks [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 521 | 544 |
Large [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 1,335 | 1,260 |
Automobile [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | 3,625 | 3,698 |
Retail [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables in bankruptcy | $ 127 | $ 119 |
Finance Receivables, Allowanc28
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Contractual Delinquency of the Finance Receivable Portfolio by Component (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $ 454,424 | $ 422,342 | |
Current, Percent | 79.40% | 77.40% | |
Total | $ 36,826 | $ 41,136 | |
Total, Percent | 6.40% | 7.50% | |
Finance receivables | $ 572,525 | $ 546,192 | $ 517,975 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $ 14,048 | $ 15,561 | |
Finance receivables in nonaccrual status, Percent | 2.50% | 2.80% | |
1 to 29 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 81,275 | $ 82,714 | |
Total, Percent | 14.20% | 15.10% | |
Delinquent Accounts 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 14,665 | $ 15,951 | |
Total, Percent | 2.50% | 2.90% | |
Delinquent Accounts 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 8,113 | $ 9,624 | |
Total, Percent | 1.40% | 1.80% | |
Delinquent Accounts 90 to 119 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 5,633 | $ 6,899 | |
Total, Percent | 1.00% | 1.20% | |
Delinquent Accounts 120 to 149 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 4,597 | $ 4,988 | |
Total, Percent | 0.80% | 0.90% | |
Delinquent Accounts 150 to 179 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 3,818 | $ 3,674 | |
Total, Percent | 0.70% | 0.70% | |
Branch Small [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $ 112,740 | $ 104,003 | |
Current, Percent | 80.40% | 81.10% | |
Total | $ 10,804 | $ 10,247 | |
Total, Percent | 7.70% | 8.00% | |
Finance receivables | $ 140,161 | $ 128,217 | 107,598 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $ 4,443 | $ 4,325 | |
Finance receivables in nonaccrual status, Percent | 3.20% | 3.40% | |
Branch Small [Member] | 1 to 29 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 16,617 | $ 13,967 | |
Total, Percent | 11.90% | 10.90% | |
Branch Small [Member] | Delinquent Accounts 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 3,908 | $ 3,647 | |
Total, Percent | 2.70% | 2.80% | |
Branch Small [Member] | Delinquent Accounts 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 2,453 | $ 2,275 | |
Total, Percent | 1.80% | 1.80% | |
Branch Small [Member] | Delinquent Accounts 90 to 119 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,763 | $ 1,857 | |
Total, Percent | 1.30% | 1.40% | |
Branch Small [Member] | Delinquent Accounts 120 to 149 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,413 | $ 1,478 | |
Total, Percent | 1.00% | 1.20% | |
Branch Small [Member] | Delinquent Accounts 150 to 179 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,267 | $ 990 | |
Total, Percent | 0.90% | 0.80% | |
Convenience Checks [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $ 143,057 | $ 154,833 | |
Current, Percent | 81.80% | 80.90% | |
Total | $ 13,561 | $ 17,165 | |
Total, Percent | 7.80% | 9.00% | |
Finance receivables | $ 174,786 | $ 191,316 | 167,858 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $ 6,213 | $ 7,589 | |
Finance receivables in nonaccrual status, Percent | 3.60% | 4.00% | |
Convenience Checks [Member] | 1 to 29 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 18,168 | $ 19,318 | |
Total, Percent | 10.40% | 10.10% | |
Convenience Checks [Member] | Delinquent Accounts 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 4,386 | $ 5,134 | |
Total, Percent | 2.50% | 2.70% | |
Convenience Checks [Member] | Delinquent Accounts 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 2,962 | $ 4,442 | |
Total, Percent | 1.70% | 2.30% | |
Convenience Checks [Member] | Delinquent Accounts 90 to 119 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 2,236 | $ 3,312 | |
Total, Percent | 1.30% | 1.80% | |
Convenience Checks [Member] | Delinquent Accounts 120 to 149 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 2,017 | $ 2,343 | |
Total, Percent | 1.20% | 1.20% | |
Convenience Checks [Member] | Delinquent Accounts 150 to 179 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,960 | $ 1,934 | |
Total, Percent | 1.10% | 1.00% | |
Large [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $ 80,157 | $ 36,658 | |
Current, Percent | 86.10% | 79.40% | |
Total | $ 2,748 | $ 2,106 | |
Total, Percent | 2.90% | 4.60% | |
Finance receivables | $ 93,203 | $ 46,147 | 42,996 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $ 777 | $ 587 | |
Finance receivables in nonaccrual status, Percent | 0.80% | 1.30% | |
Large [Member] | 1 to 29 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 10,298 | $ 7,383 | |
Total, Percent | 11.00% | 16.00% | |
Large [Member] | Delinquent Accounts 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,385 | $ 1,036 | |
Total, Percent | 1.50% | 2.30% | |
Large [Member] | Delinquent Accounts 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 586 | $ 483 | |
Total, Percent | 0.60% | 1.00% | |
Large [Member] | Delinquent Accounts 90 to 119 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 360 | $ 263 | |
Total, Percent | 0.30% | 0.60% | |
Large [Member] | Delinquent Accounts 120 to 149 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 260 | $ 204 | |
Total, Percent | 0.30% | 0.40% | |
Large [Member] | Delinquent Accounts 150 to 179 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 157 | $ 120 | |
Total, Percent | 0.20% | 0.30% | |
Automobile [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $ 97,983 | $ 105,424 | |
Current, Percent | 70.20% | 68.30% | |
Total | $ 8,619 | $ 10,302 | |
Total, Percent | 6.20% | 6.70% | |
Finance receivables | $ 139,593 | $ 154,382 | 171,777 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $ 2,176 | $ 2,537 | |
Finance receivables in nonaccrual status, Percent | 1.60% | 1.60% | |
Automobile [Member] | 1 to 29 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 32,991 | $ 38,656 | |
Total, Percent | 23.60% | 25.00% | |
Automobile [Member] | Delinquent Accounts 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 4,570 | $ 5,651 | |
Total, Percent | 3.30% | 3.70% | |
Automobile [Member] | Delinquent Accounts 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,873 | $ 2,114 | |
Total, Percent | 1.30% | 1.40% | |
Automobile [Member] | Delinquent Accounts 90 to 119 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 1,086 | $ 1,266 | |
Total, Percent | 0.80% | 0.80% | |
Automobile [Member] | Delinquent Accounts 120 to 149 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 778 | $ 758 | |
Total, Percent | 0.60% | 0.50% | |
Automobile [Member] | Delinquent Accounts 150 to 179 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 312 | $ 513 | |
Total, Percent | 0.20% | 0.30% | |
Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current | $ 20,487 | $ 21,424 | |
Current, Percent | 82.70% | 82.00% | |
Total | $ 1,094 | $ 1,316 | |
Total, Percent | 4.40% | 5.00% | |
Finance receivables | $ 24,782 | $ 26,130 | $ 27,746 |
Total finance receivables, Percent | 100.00% | 100.00% | |
Finance receivables in nonaccrual status | $ 439 | $ 523 | |
Finance receivables in nonaccrual status, Percent | 1.80% | 2.00% | |
Retail [Member] | 1 to 29 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 3,201 | $ 3,390 | |
Total, Percent | 12.90% | 13.00% | |
Retail [Member] | Delinquent Accounts 30 to 59 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 416 | $ 483 | |
Total, Percent | 1.60% | 1.80% | |
Retail [Member] | Delinquent Accounts 60 to 89 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 239 | $ 310 | |
Total, Percent | 1.00% | 1.20% | |
Retail [Member] | Delinquent Accounts 90 to 119 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 188 | $ 201 | |
Total, Percent | 0.80% | 0.80% | |
Retail [Member] | Delinquent Accounts 120 to 149 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 129 | $ 205 | |
Total, Percent | 0.50% | 0.80% | |
Retail [Member] | Delinquent Accounts 150 to 179 Days [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 122 | $ 117 | |
Total, Percent | 0.50% | 0.40% |
Finance Receivables, Allowanc29
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Summary of Finance Receivables Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in bankruptcy specifically evaluated | $ 6,223 | $ 6,203 | |
Finance receivables evaluated collectively | 566,302 | 539,989 | |
Finance receivables | 572,525 | 546,192 | $ 517,975 |
Accounts in bankruptcy in nonaccrual status | 424 | 1,007 | |
Amount of the specific reserve for impaired accounts | 1,638 | 1,616 | |
Amount of the general component of the allowance | 34,533 | 38,895 | |
Branch Small [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in bankruptcy specifically evaluated | 615 | 582 | |
Finance receivables evaluated collectively | 139,546 | 127,635 | |
Finance receivables | 140,161 | 128,217 | 107,598 |
Accounts in bankruptcy in nonaccrual status | 98 | 140 | |
Amount of the specific reserve for impaired accounts | 164 | 143 | |
Amount of the general component of the allowance | 6,974 | 6,817 | |
Convenience Checks [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in bankruptcy specifically evaluated | 521 | 544 | |
Finance receivables evaluated collectively | 174,265 | 190,772 | |
Finance receivables | 174,786 | 191,316 | 167,858 |
Accounts in bankruptcy in nonaccrual status | 81 | 159 | |
Amount of the specific reserve for impaired accounts | 133 | 165 | |
Amount of the general component of the allowance | 11,072 | 18,155 | |
Large [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in bankruptcy specifically evaluated | 1,335 | 1,260 | |
Finance receivables evaluated collectively | 91,868 | 44,887 | |
Finance receivables | 93,203 | 46,147 | 42,996 |
Accounts in bankruptcy in nonaccrual status | 92 | 133 | |
Amount of the specific reserve for impaired accounts | 376 | 309 | |
Amount of the general component of the allowance | 4,988 | 1,671 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in bankruptcy specifically evaluated | 3,625 | 3,698 | |
Finance receivables evaluated collectively | 135,968 | 150,684 | |
Finance receivables | 139,593 | 154,382 | 171,777 |
Accounts in bankruptcy in nonaccrual status | 135 | 559 | |
Amount of the specific reserve for impaired accounts | 946 | 981 | |
Amount of the general component of the allowance | 10,175 | 10,795 | |
Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers in bankruptcy specifically evaluated | 127 | 119 | |
Finance receivables evaluated collectively | 24,655 | 26,011 | |
Finance receivables | 24,782 | 26,130 | $ 27,746 |
Accounts in bankruptcy in nonaccrual status | 18 | 16 | |
Amount of the specific reserve for impaired accounts | 19 | 18 | |
Amount of the general component of the allowance | $ 1,324 | $ 1,457 |
Finance Receivables, Allowanc30
Finance Receivables, Allowance for Credit Losses, and Credit Quality Information - Schedule of Average Recorded Investment in Impaired Finance Receivables (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
Total average recorded investment | $ 6,153 | $ 9,166 | $ 6,160 | $ 9,423 |
Branch Small [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Total average recorded investment | 526 | 1,470 | 521 | 1,632 |
Convenience Checks [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Total average recorded investment | 618 | 1,315 | 605 | 1,349 |
Large [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Total average recorded investment | 1,276 | 1,796 | 1,271 | 1,828 |
Automobile [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Total average recorded investment | 3,603 | 4,305 | 3,637 | 4,303 |
Retail [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Total average recorded investment | $ 130 | $ 280 | $ 126 | $ 311 |
Debt - Additional Information (
Debt - Additional Information (Detail) - Jun. 30, 2015 - Senior Revolving Credit Facility [Member] - USD ($) $ in Thousands | Total |
Line of Credit Facility [Line Items] | |
Credit facility, unused capacity | $ 140,509 |
Percentage of advances on debt agreement eligible finance receivables | 85.00% |
Percentage of advances on finance receivables | 84.00% |
Interest Rate Caps - Additional
Interest Rate Caps - Additional Information (Detail) - Apr. 01, 2015 - USD ($) | Total |
Derivative [Line Items] | |
Notional amount of interest rate cap | $ 150,000,000 |
Strike rate | 2.50% |
Interest Rate Caps [Member] | |
Derivative [Line Items] | |
Maturity period of interest rate caps exchanged | Apr. 30, 2018 |
Interest Rate Caps - Summary of
Interest Rate Caps - Summary of Change in Rate Caps (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands | Total | Total |
Offsetting [Abstract] | ||
Balance at beginning of period | ||
Purchases | $ 577 | $ 577 |
Fair value adjustment included as an (increase) in interest expense | (172) | (172) |
Balance sheet at end of period, included in other assets | $ 405 | $ 405 |
Disclosure About Fair Value o34
Disclosure About Fair Value of Financial Instruments - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Turnover rate of loan portfolio | 1.6 |
Disclosure About Fair Value o35
Disclosure About Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Values of Company's Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Apr. 01, 2015 | Dec. 31, 2014 |
Assets | |||
Interest rate caps | $ 405 | ||
Net finance receivables | 536,354 | $ 505,681 | |
Estimated Fair Value [Member] | Level 1 Inputs [Member] | |||
Assets | |||
Cash | 4,793 | 4,012 | |
Restricted cash | 1,900 | 1,900 | |
Estimated Fair Value [Member] | Level 2 Inputs [Member] | |||
Assets | |||
Interest rate caps | 405 | ||
Estimated Fair Value [Member] | Level 3 Inputs [Member] | |||
Assets | |||
Net finance receivables | 536,354 | 505,681 | |
Repossessed assets | 407 | 556 | |
Liabilities | |||
Senior revolving credit facility | 359,491 | 341,419 | |
Carrying Amount [Member] | Level 1 Inputs [Member] | |||
Assets | |||
Cash | 4,793 | 4,012 | |
Restricted cash | 1,900 | 1,900 | |
Carrying Amount [Member] | Level 2 Inputs [Member] | |||
Assets | |||
Interest rate caps | 405 | ||
Carrying Amount [Member] | Level 3 Inputs [Member] | |||
Assets | |||
Net finance receivables | 536,354 | 505,681 | |
Repossessed assets | 407 | 556 | |
Liabilities | |||
Senior revolving credit facility | $ 359,491 | $ 341,419 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Numerator: | |||||
Net income | $ 5,408 | $ 4,414 | $ 9,491 | $ 10,024 | $ 14,802 |
Denominator: | |||||
Weighted average shares outstanding for basic earnings per share | 12,845 | 12,691 | 12,812 | 12,673 | |
Effect of dilutive securities | 233 | 225 | 228 | 285 | |
Weighted average shares adjusted for dilutive securities | 13,078 | 12,916 | 13,040 | 12,958 | |
Basic | $ 0.42 | $ 0.35 | $ 0.74 | $ 0.79 | |
Diluted | $ 0.41 | $ 0.34 | $ 0.73 | $ 0.77 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Equity Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Options to purchase common stock, Shares | 477 | 405 | 477 | 405 |
Share-based Compensation - Addi
Share-based Compensation - Additional Information (Detail) - USD ($) $ in Thousands | Oct. 28, 2013 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Apr. 22, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares available for grant | 580,000 | ||||
Board compensation grant period | 5 days | ||||
Exercise period of options | 10 years | ||||
Stock option granted | 0 | 0 | |||
Issuance of restricted stock awards | 99,000 | ||||
Expense related to issuance of restricted stock awards | $ 1,530 | ||||
2015 Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares available for grant | 580,000 | ||||
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 | 2 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] | |||||
Unrecognized stock-based compensation expense | $ 6,851 | ||||
Period of recognition of stock-based compensation expense | 2 years 3 months 18 days | ||||
Stock Compensation Plans [Member] | 2015 Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Maximum aggregate number of shares | 350,000 | ||||
Shares available for grant | 922,000 | ||||
Plan description | 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. | ||||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares, Granted | 0 | 92,000 | 0 | ||
Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares, Granted | 0 | 1,357,000 | 0 |
Share-based Compensation - Fair
Share-based Compensation - Fair Value of Option Grants (Detail) - 6 months ended Jun. 30, 2015 | Total |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Expected volatility | 47.18% |
Expected dividends | 0.00% |
Expected term (in years) | 6 years 2 months 1 day |
Risk-free rate | 1.62% |
Share-based Compensation - Summ
Share-based Compensation - Summary of Company's Stock Option Plan Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Number of Shares, Options outstanding, Beginning balance | 896 |
Number of Shares, Granted | 297 |
Number of Shares, Exercised | (95) |
Number of Shares, Forfeited | (17) |
Number of Shares, Expired | 0 |
Number of Shares, Options outstanding, Ending balance | 1,081 |
Number of Shares, Options exercisable | 629 |
Number of Shares, Available for grant | 580 |
Weighted Average Price Per Share, Options outstanding, Beginning balance | $ 11.63 |
Weighted Average Price Per Share, Granted | 15.26 |
Weighted Average Price Per Share, Exercised | 6.96 |
Weighted Average Price Per Share, Forfeited | 16.03 |
Weighted Average Price Per Share, Expired | 0 |
Weighted Average Price Per Share, Options outstanding, Ending balance | 12.97 |
Weighted Average Price Per Share, Options exercisable | $ 10.26 |
Weighted Average Remaining Contractual Life (Years), Options outstanding | 5 years 6 months |
Weighted Average Remaining Contractual Life (Years), Options exercisable | 3 years |
Aggregate Intrinsic Value, Options outstanding | $ 5,713 |
Aggregate Intrinsic Value, Options exercisable | $ 4,872 |
Share-based Compensation - Su41
Share-based Compensation - Summary of Additional Stock Option Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ||||
Weighted-average grant date fair value per share | $ 6.95 | $ 7.08 | ||
Intrinsic value of options exercised | $ 636 | $ 316 | $ 894 | $ 316 |
Fair value of stock options that vested | $ 411 | $ 698 | $ 851 | $ 698 |
Share-based Compensation - Su42
Share-based Compensation - Summary of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Non-vested shares, beginning of the year | 35 | |||
Shares, Granted | 0 | 92 | 0 | |
Shares, Vested | 0 | |||
Shares, Forfeited | (7) | |||
Non-vested shares, end of the year | 120 | 120 | ||
Weighted Average Grant Date Fair Value, Non-vested restricted stock, beginning of the year | $ 17.76 | |||
Weighted Average Grant Date Fair Value, Granted | $ 14.75 | 14.75 | ||
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 | $ 15.46 | $ 15.46 |
Share-based Compensation - Su43
Share-based Compensation - Summary of Additional Restricted Stock Unit Information (Detail) - Jun. 30, 2015 - $ / shares | Total | Total |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Weighted-average grant date fair value per unit | $ 14.75 | $ 14.75 |
Share-based Compensation - Su44
Share-based Compensation - Summary of Cash Settled Performance Shares Activity (Detail) - Performance Shares [Member] - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested shares, beginning of the year | 629 | ||
Shares, Granted | 0 | 1,357 | 0 |
Shares, Vested | 0 | ||
Shares, Forfeited | (125) | ||
Non-vested shares, end of the year | 1,861 | ||
Weighted Average Grant Date Fair Value, Non-vested restricted stock, beginning of the year | $ 1 | ||
Weighted Average Grant Date Fair Value, Granted | 1 | ||
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 |
Share-based Compensation - Su45
Share-based Compensation - Summary of Restricted Stock Activity (Detail) - Restricted Stock [Member] - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Non-vested shares, beginning of the year | 60 | |||
Shares, Granted | 118 | |||
Shares, Vested | (145) | |||
Shares, Forfeited | (12) | |||
Non-vested shares, end of the year | 21 | 21 | ||
Weighted Average Grant Date Fair Value, Non-vested restricted stock, beginning of the year | $ 15.91 | |||
Weighted Average Grant Date Fair Value, Granted | $ 16.30 | $ 15.34 | 15.29 | $ 15.34 |
Weighted Average Grant Date Fair Value, Vested | 15.17 | |||
Weighted Average Grant Date Fair Value, Forfeited | 17.76 | |||
Weighted Average Grant Date Fair Value, Non-vested restricted stock, end of the period | $ 16.47 | $ 16.47 |
Share-based Compensation - Su46
Share-based Compensation - Summary of Additional Restricted Stock Information (Detail) - Restricted Stock [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted-average grant date fair value per share | $ 16.30 | $ 15.34 | $ 15.29 | $ 15.34 |
Fair value of restricted stock awards that vested | $ 698 | $ 2,198 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Loss contingency accrual | $ 523 |