Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 138

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 138
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 9.7% in the prior period.

In June 2021, March 2024, and
again on March 20, 2025, we completed a securitization of residual interests from other previously issued securitizations in the amount
of $50 million, $50 million, and $65 million, respectively. Interest expense for these residual interest financings was $2.7 million for
the three months ended March 31, 2025, compared to $1.2 for the same period in 2024.

The following table presents
the components of interest income and interest expense and a net interest yield analysis for the three-month periods ended March 31, 2025,
and 2024:

    Three Months Ended March 31, 

    2025  
    2024 

    (Dollars in thousands) 

    Annualized  

    Annualized 

    Average  
       
    Average  
    Average  
       
    Average 

    Balance (1)  
    Interest  
    Yield/Rate  
    Balance (1)  
    Interest  
    Yield/Rate 
  
    Interest Earning Assets 

    Loan Portfolio 
    $3,572,642  
    $101,933  
     11.4%  
    $2,993,816  
    $84,288  
     11.3% 

    Interest Bearing Liabilities 

    Warehouse lines of credit 
    $275,816  
    $6,513  
     9.4%  
    $164,883  
     4,321  
     10.5% 
  
    Residual interest financing 
     108,667  
     2,715  
     10.0%  
     67,033  
     1,209  
     7.2% 
  
    Securitization trust debt 
     2,861,870  
     45,044  
     6.3%  
     2,388,146  
     35,932  
     6.0% 
  
    Subordinated renewable notes 
     26,945  
     646  
     9.6%  
     20,842  
     506