Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1156

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 1156
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     191,257  
     6.6%  
    $2,586,150  
     146,631  
     5.7% 

    Net interest income/spread 
        
    $172,705  

    $182,588  

    Net interest margin (3) 

     5.4%  

     6.3% 
  
    Ratio of average interest earning assets to average interest bearing liabilities 
     111%  

     113%  

    (1)
    Average balances are based on month end balances except for
    warehouse lines of credit, which are based on daily balances.

    (2)
    Net of deferred fees and direct costs.

    (3)
    Net interest income divided by average interest earning assets.

 43 

    Year Ended December 31, 2024 

    Compared to December 31, 2023 

    Total Change  
    Change Due to Volume  
    Change Due to Rate 
  
    Interest Earning Assets 
    (In thousands) 
  
    Loan portfolio 
    $34,743  
    $33,494  
    $1,249 

    Interest Bearing Liabilities 

    Warehouse lines of credit 
     100  
     (340) 
     440 
  
    Residual interest financing 
     4,503  
     3,511  
     992 
  
    Securitization trust debt 
     39,606  
     13,688  
     25,918 
  
    Subordinated renewable notes 
     417  
     170  
     247 

     44,626  
     17,029  
     27,597 

    Net interest income/spread 
    $(9,883) 
    $16,465  
    $(26,348)

For our receivables originated
prior to January 2018, we maintain an allowance for credit losses on automobile contracts held on our balance sheet, which reflects our
estimates of probable credit losses that can be reasonably estimated. For the year ended December 31, 2024, we recorded a reduction to
provision for credit losses on finance receivables in the amount of $5.3 million. In the prior year period, we recorded similar reductions
to provision for credit losses in the amount of