v3.25.3
LOANS RECEIVABLE
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
LOANS RECEIVABLE LOANS RECEIVABLE
The following is a summary of the Company’s loans receivable, net:
(In Thousands)September 30, 2025December 31, 2024
Loans Receivable, Gross$222,155 $204,327 
   Unamortized Fees(10,337)(9,559)
Loans Receivable, Amortized Cost211,818 194,768 
   Allowance for Loan Losses(51,468)(47,783)
Loans Receivable, Net of Allowances and Unamortized Fees1
$160,350 $146,985 
1 Loans Receivable, Net of Allowances and Unamortized Fees attributable to Four was $35.6 million and $34.9 million as of September 30, 2025 and December 31, 2024, respectively.
Vive extends or declines credit to an applicant through its bank partners based primarily upon the applicant's credit rating and other factors. Four extends or declines credit on an individual transaction basis using its proprietary decisioning platform, without using customer credit ratings. Four instead uses an internal model that utilizes factors such as banking data and user history to generate internal proprietary risk scores. Four groups its internal risk scores into three categories that range from A to C, with an A rating representing the highest credit quality. Below is a summary of the credit quality of the Company's loan portfolio as of September 30, 2025 and December 31, 2024 by FICO score and proprietary risk category, as determined at the time of loan origination:
FICO Score CategorySeptember 30, 2025December 31, 2024
Vive - FICO Score Category:
700 or greater13.1 %12.8 %
Between 700 and 60073.8 %76.9 %
600 or less13.1 %10.3 %
Four - Proprietary Risk Category:
Category A27.3 %26.9 %
Category B48.0 %48.6 %
Category C24.7 %24.5 %
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:
As of September 30, 2025 (In Thousands)
20252024
2023 and Prior
Revolving LoansTotal
Vive - FICO Score Category:
700 or greater$— $— $— $20,475 $20,475 
Between 700 and 600— — — 118,639 118,639 
600 or less— — — 21,031 21,031 
Four - Propriety Risk Category:
Category A11,935 — — — 11,935 
Category B20,948 — — — 20,948 
Category C10,794 — — — 10,794 
No Score Identified
7,996 — — — 7,996 
Total Amortized Cost
$51,673 $— $— $160,145 $211,818 
Gross Charge-offs by Origination Year for the Nine Months Ended September 30, 2025
$16,764 $9,341 $— $30,866 $56,971 
Included in the table below is an aging of the loans receivable, gross balance:
(Dollar Amounts in Thousands)
Aging CategorySeptember 30, 2025December 31, 2024
30-59 Days Past Due7.6 %7.7 %
60-89 Days Past Due4.8 %3.8 %
90 or More Days Past Due5.6 %4.9 %
Past Due Loans Receivable18.0 %16.4 %
Current Loans Receivable82.0 %83.6 %
Balance of Credit Card Loans on Nonaccrual Status$4,079 $4,793 
Balance of Loans Receivable Greater than 90 Days Past Due and Still Accruing Interest and Fees
$— $— 
The table below presents the components of the allowance for loan losses:
Three Months Ended September 30,Nine Months Ended September 30,
(In Thousands)2025202420252024
Beginning Balance$48,972 $40,242 $47,783 $40,620 
Provision for Loan Losses20,645 15,133 52,422 38,217 
Charge-offs(21,155)(13,992)(56,971)(41,170)
Recoveries3,006 1,858 8,234 5,574 
Ending Balance$51,468 $43,241 $51,468 $43,241