Financial Data and Key Metrics Changes - Capital generation reached $222 million, up 63% year over year [6][21] - C&I adjusted earnings were $1.45 per share, up 42% [6][21] - Total revenue grew 10% year over year, reaching $1.5 billion [6][25] - Managed receivables ended at $25.2 billion, up 7% from a year ago [21][22] - GAAP net income was $167 million or $1.4 per diluted share, up 137% from the previous year [20][21] Business Line Data and Key Metrics Changes - Originations grew 9%, driven by enhanced data analytics and product innovations [6][21] - Credit card receivables reached $752 million, up 61% year over year [11][12] - Auto finance receivables increased to over $2.6 billion, with quarterly originations growing by 29% [13][14] Market Data and Key Metrics Changes - 30+ delinquency rate was 5.07%, down 29 basis points year over year [27][28] - Consumer loan net charge offs were 7.2%, down 110 basis points year over year [29][30] - Interest income grew 10% year over year, driven by receivables growth [25][26] Company Strategy and Development Direction - The company focuses on responsible credit access and disciplined credit management [5][16] - Strategic initiatives include enhancing customer experience and expanding product offerings [10][11] - The company aims to grow its credit card business conservatively while maintaining a strong balance sheet [12][17] Management's Comments on Operating Environment and Future Outlook - The non-prime consumer remains resilient, supported by a solid labor market [15][16] - Management expressed confidence in the business model and strategic initiatives, anticipating significant capital generation growth in 2025 [40][41] - The company expects a more normalized mid-single-digit growth in originations for the second half of the year [23][68] Other Important Information - The company repurchased 460,000 shares at an average price of just below $46 per share [18] - Operating expenses were $415 million, up 11% year over year [33][34] - The company raised $1.8 billion in funding through secured and unsecured markets, enhancing liquidity [20][36] Q&A Session Summary Question: Can you discuss the competitive dynamics driving your origination growth? - Management noted a constructive competitive environment with strong origination growth despite a tight credit box, emphasizing their ability to maintain good pricing and customer trust [45][46][48] Question: How do you plan to deploy your stronger capital generation in the next 6 to 12 months? - The company prioritizes investing in business growth, maintaining a strong dividend, and considering share repurchases or strategic opportunities as excess capital increases [50][52] Question: What are your thoughts on the credit card portfolio's growth and maturity? - Management indicated that while the card yields are expected to remain above 30%, they are not rushing growth and are focused on perfecting the product [55][59] Question: How stable is your consumer base in the current macroeconomic environment? - Management reported that the non-prime consumer has been stable over the past year, with improved net disposable income contributing to better credit quality [84][86] Question: What are the key inputs you monitor to assess consumer health? - The company focuses on individual customer metrics such as income, spending, and debt load to evaluate creditworthiness [86][87]