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 no nonperforming purchased receivables as of March 31, 2026 and there was one nonperforming purchased receivable with a balance of $67,000 as of December 31, 2025 for which management was not accruing income.


(In Thousands)	March 31, 2026	December 31, 2025
Purchased receivables	$105,029	$101,642
Allowance for credit losses - purchased receivables	—	—
Total	$105,029	$101,642

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


	Three Months Ended March 31,
(In Thousands)		2026	2025
Balance at beginning of period		$—	$3,649

Charge-offs		—	—
Recoveries		5	—
Charge-offs net of recoveries		5	—
(Benefit) / provision for purchased receivables		(5)	46
Balance at end of period		$—	$3,695