Company: CPSS
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683168-25-005901
Chunk: 10

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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ables over periods that include fluctuations in the competitive landscape,
the Company’s rates of growth, size of our managed portfolio and fluctuations in economic growth and unemployment.

     15 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

In consideration of the depth
and breadth of the historical period, and the homogeneity of our portfolio, we generally do not adjust historical loss information for
differences in risk characteristics such as credit or structural composition of segments of the portfolio or for changes in environmental
conditions such as changes in unemployment rates, collateral values or other factors. Throughout our history we have observed how events
such as extreme weather, political unrest, and other qualitative factors have influenced the performance of our portfolio. Consequently,
we have considered how such qualitative factors may affect future credit losses and have incorporated our judgement of the effect of those
factors into our estimates.

The following table presents the amortized cost
basis of our finance receivables by annual vintage as of June 30, 2025, and December 31, 2024. 

    Schedule of finance receivables by annual vintage 

    June 30,  
    December 31, 

    2025  
    2024 

    (In thousands) 
  
    Annual Vintage Pool 

    2015 and prior 
    $99  
    $294 
  
    2016 
     456  
     1,336 
  
    2017 
     1,261  
     3,790 

    $1,816  
    $5,420 

The following table presents a summary of the
activity for the allowance for finance credit losses for the three-month and six-month periods ended June 30, 2025, and 2024: 

    Schedule of allowance for finance credit losses 

    Three Months Ended  
    Six Months Ended 

    June 30,  
    June 30, 

    2025  
    2024  
    2025  
    2024 

    (In thousands)  
    (In thousands) 
  
    Balance at beginning of period 
    $249  
    $1,890  
    $433  
    $2,869 
  
    Provision for credit losses on finance rece