CFC Quarterly Financial Performance
CCBX
Revenue Growth
CCBX REVENUE GROWTH
BaaS Program Fee Income
(1)
Baas Fees includes $52.6 million in credit
enhancements and fraud enhancements for the three
months ended June 30, 2023, compared to $44.4 million
for the three months ended March 31, 2023 and $20.7
million for the three months ended June 30, 2022.
Reimbursement for any partner credit
enhancement and fraud loss provided by the partner is
included in noninterest income. Partner fraud loss
represents non-credit fraud losses on partner's customer
loan and deposit accounts and is recognized in noninterest
expense. BaaS fraud loss expense decreased $462,000
for the three months ended June 30, 2023 compared to
the three months ended March 31, 2023 and decreased
$4.9 million compared to the three months ended June 30,
2022.
BaaS Program Fee Income excludes BaaS credit
enhancements and BaaS fraud enhancements. BaaS
Program Fee Income for the three months ended June 30,
2023 grew 22.6% compared to the three months ended
June 30, 2022.
As of and for the three month period indicated
(Dollars in thousands)
$3,948
$3,642
$3,607
$3,575
$3,219
June 30,
2022
September
30, 2022
December
31, 2022
March 31,
2023
June 30,
2023
Note: Data as of and for the quarter ended June 30, 2023, unless otherwise indicated
(1) BaaS program fee income includes servicing and other BaaS fees, transactions fees, interchange fees and reimbursement of expenses.
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