v3.26.3
Purchased Receivables (Tables)
 9 Months Ended
Sep. 30, 2026
Purchased Receivables [Abstract]  
Summary of Components of Net Purchased Receivables
The following table summarizes the components of net purchased receivables for the dates indicated:
(In Thousands)September 30, 2026December 31, 2025
Purchased receivables$102,619 $101,642 
Allowance for credit losses - purchased receivables(376)— 
Total$102,243 $101,642 
Changes in the ACL on Purchased Receivables
The following table sets forth information regarding changes in the ACL on purchased receivables for the periods indicated:

Three Months Ended September 30,Nine Months Ended September 30,
(In Thousands)2026202520262025
Balance at beginning of period$610 $3,432 $— $3,649 
   Adjustment related to PCD collections payable to sellers1
— (1,513)— (1,513)
   Charge-offs— — — (281)
   Recoveries— 20 5 20 
Charge-offs net of recoveries— 20 5 (261)
Foreign currency translation adjustment5 — (15)— 
Provision (benefit) for purchased receivables(239)(15)386 49 
Balance at end of period$376 $1,924 $376 $1,924 
1Represents a reduction in the ACL on a PCD purchased receivable acquired in 2024 in connection with the acquisition of Sallyport Commercial Finance, LLC (“SCF”). Collections received during the period presented above are contractually payable to the sellers under the purchase agreement if collected within one year of the acquisition of SCF. Accordingly, the decrease in the allowance was offset by the recognition of a liability to the sellers, and no benefit was recognized in the provision for credit losses.