ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Jun. 30, 2014

The following is a summary of the changes in the allowance for loan losses for the periods indicated:



	Three months ended June 30,
	2014			2013
Balance at beginning of period	$	63,254,940		59,980,842
Provision for loan losses	30,893,266			28,703,193
Loan losses	(29,820,547		)	(30,114,074	)
Recoveries	3,512,797			3,312,182
Translation adjustment	44,771			(251,176	)
Balance at end of period	$	67,885,227		61,630,967

The following is a summary of loans individually and collectively evaluated for impairment for the period indicated:



June 30, 2014	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total
Bankruptcy, gross loans	$	5,995,703		—		5,995,703
91 days or more delinquent, excluding bankruptcy	32,657,958			—		32,657,958
Loans less than 91 days delinquent and not in bankruptcy	—			1,125,714,247		1,125,714,247
Gross loan balance	38,653,661			1,125,714,247		1,164,367,908
Unearned interest and fees	(8,862,435		)	(306,643,933	)	(315,506,368	)
Net loans	29,791,226			819,070,314		848,861,540
Allowance for loan losses	(29,791,226		)	(38,094,001	)	(67,885,227	)
Loans, net of allowance for loan losses	$	—		780,976,313		780,976,313



March 31, 2014	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total
Bankruptcy, gross loans	$	5,878,825		—		5,878,825
91 days or more delinquent, excluding bankruptcy	28,186,637			—		28,186,637
Loans less than 91 days delinquent and not in bankruptcy	—			1,078,241,873		1,078,241,873
Gross loan balance	34,065,462			1,078,241,873		1,112,307,335
Unearned interest and fees	(7,269,147		)	(291,118,373	)	(298,387,520	)
Net loans	26,796,315			787,123,500		813,919,815
Allowance for loan losses	(26,796,315		)	(36,458,625	)	(63,254,940	)
Loans, net of allowance for loan losses	$	—		750,664,875		750,664,875



June 30, 2013	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total
Bankruptcy, gross loans	$	6,072,085		—		6,072,085
91 days or more delinquent, excluding bankruptcy	22,162,742			—		22,162,742
Loans less than 91 days delinquent and not in bankruptcy	—			1,097,026,529		1,097,026,529
Gross loan balance	28,234,827			1,097,026,529		1,125,261,356
Unearned interest and fees	(5,531,920		)	(301,236,964	)	(306,768,884	)
Net loans	22,702,907			795,789,565		818,492,472
Allowance for loan losses	(22,702,907		)	(38,928,060	)	(61,630,967	)
Loans, net of allowance for loan losses	$	—		756,861,505		756,861,505

The following is an assessment of the credit quality for the period indicated:



	June 30, 2014		March 31, 2014	June 30, 2013
Credit risk
Consumer loans- non-bankrupt accounts	$	1,158,372,205	1,106,428,510	1,119,189,271
Consumer loans- bankrupt accounts	5,995,703		5,878,825	6,072,085
Total gross loans	$	1,164,367,908	1,112,307,335	1,125,261,356

Consumer credit exposure
Credit risk profile based on payment activity, performing	$	1,099,149,267	1,053,037,073	1,078,290,594
Contractual non-performing, 61 or more days delinquent	65,218,641		59,270,262	46,970,762
Total gross loans	$	1,164,367,908	1,112,307,335	1,125,261,356

Delinquent refinance	$	23,857,699	22,907,734	21,072,057

Credit risk profile based on customer type
New borrower	$	152,914,153	151,025,603	130,749,464
Former borrower	122,171,469		102,514,264	107,984,804
Refinance	865,424,587		835,859,734	865,455,031
Delinquent refinance	23,857,699		22,907,734	21,072,057
Total gross loans	$	1,164,367,908	1,112,307,335	1,125,261,356

The following is a summary of the past due receivables as of:



	June 30, 2014			March 31, 2014		June 30, 2013
Contractual basis:
30-60 days past due	$	42,501,987		37,713,414		47,703,945
61-90 days past due	32,171,291			30,607,515		24,451,964
91 days or more past due	33,047,350			28,662,747		22,518,798
Total	$	107,720,628		96,983,676		94,674,707

Percentage of period-end gross loans receivable	9.3		%	8.7	%	8.4	%