The Company consolidated the results of operations and financial position of three lending-related entities, which it considers VIEs. The Company consolidated these VIEs because it or its subsidiaries is deemed to be the primary beneficiary since the Company or its subsidiaries has the power to direct the loan servicing or portfolio management activities, which are the activities that most significantly affect the VIEs’ economic performance, and the Company or its subsidiaries has the obligation to absorb the majority of the losses or benefits through ownership of all of the secured financings issued by the trusts. For these VIEs, the loans transferred to the VIEs are pledged as collateral and may only be used to settle the related secured financings.

In addition, through its acquisition of Verdant, the Company acquired additional variable interests in certain securitization entities. Following the acquisition, the Company performed an assessment and determined it continues to direct the activities that most significantly affect the acquired VIEs’ economic performance, and the Company has the obligation to absorb the majority of the losses or benefits of such acquired variable interests. As a result, the Company determined it is the primary beneficiary and continues to consolidate the VIEs as of September 30, 2026. For these VIEs, including those acquired in the Verdant acquisition, the loans transferred to the VIEs are pledged as collateral to the related secured financings. Additionally, the liabilities issued by the consolidated VIEs are non-recourse to the Company.


(Dollars in thousands)	As of September 30, 2026		As of June 30, 2026

Restricted cash	$	29,767	$	30,306
Loans—net of allowance for credit losses	1,271,441		1,347,670
Other assets	144,710		156,584
Secured financings	511,647		576,680
Accounts payable and other liabilities	26,251		25,929

As part of its securitization activities, Verdant issued a series of notes to provide additional financing to its business. The notes outstanding as of September 30, 2026 are included in “Secured financings” in the Company’s Condensed Consolidated Balance Sheet and are summarized in the below table. On September 14, 2026, the Company redeemed 100% of the outstanding principal of all outstanding classes of the Series 2022-01 note issuance.


				Outstanding Principal (Dollars in thousands)
Series	Classes	Interest Rate Range	Final Maturity Date / Range	As of September 30, 2026		As of June 30, 2026
2022-01	Class A, B, C, D	Not applicable	Not applicable	$	—	$	8,494
2023-01	Class A-1, A-2, B, C, D	6.05% to 7.75%	January 2031	77,481		90,837
2024-01	Class A-1, A-2, B, C, D	5.68% to 7.23%	December 2031	144,599		162,041
2025-01	Class A-1, A-2, A-3, B, C, D	4.85% to 6.49%	March 2028 to May 2033	282,546		307,166
Total				$	504,626	$	568,538