Purchased receivables are carried at their principal amount outstanding, net of an ACL, and have a maturity of less than one year. Income on purchased receivables is accrued and recognized on the principal amount outstanding using an effective interest method except when management believes doubt exists as to the collectability of the income or principal. There were eight nonperforming purchased receivables with a balance of $4.0 million as of June 30, 2025 and there were four nonperforming purchased receivable with a balance of $3.8 million as of December 31, 2024 for which management was not accruing income.


(In Thousands)	June 30, 2025	December 31, 2024
Purchased receivables	$112,530	$77,727
Allowance for credit losses - purchased receivables	(3,432)	(3,649)
Total	$109,098	$74,078

The following table sets forth information regarding changes in the ACL on purchased receivables for the periods indicated:


	Three Months Ended June 30,		Six Months Ended June 30,
(In Thousands)	2025	2024	2025	2024
Balance at beginning of period	$3,695	$—	$3,649	$—
Charge-offs	(281)	—	(281)	—
Recoveries	—	—	—	—
Charge-offs net of recoveries	(281)	—	(281)	—
Provision for purchased receivables	18	—	64	—
Balance at end of period	$3,432	$—	$3,432	$—