ALLOWANCE FOR LOAN LOSSES

3 Months Ended

Jun. 30, 2016

The following is a summary of gross loans receivable as of:



	June 30, 2016		March 31, 2016	June 30, 2015
Small loans	$	656,868,824	637,826,581	695,861,419
Large loans	429,849,838		427,723,584	448,157,435
Sales finance receivables	783,520		1,414,177	6,649,816
Total gross loans	$	1,087,502,182	1,066,964,342	1,150,668,670

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



	Three months ended June 30,
	2016			2015
Balance at beginning of period	$	69,565,804		70,437,988
Provision for loan losses	32,014,277			26,228,009
Loan losses	(32,694,842		)	(29,875,432	)
Recoveries ⁽¹⁾	3,722,398			5,374,848
Translation adjustment	(614,577		)	(205,444	)
Balance at end of period	$	71,993,060		71,959,969

⁽¹⁾ Recoveries during the three months ended June 30, 2015 included $1.8 million of recoveries resulting from the sale of previously charged-off loans.

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



June 30, 2016	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total
Gross loans in bankruptcy, excluding contractually delinquent	$	4,849,868		—		4,849,868
Gross loans contractually delinquent	46,926,272			—		46,926,272
Loans not contractually delinquent and not in bankruptcy	—			1,035,726,042		1,035,726,042
Gross loan balance	51,776,140			1,035,726,042		1,087,502,182
Unearned interest and fees	(12,655,577		)	(289,436,429	)	(302,092,006	)
Net loans	39,120,563			746,289,613		785,410,176
Allowance for loan losses	(34,476,814		)	(37,516,246	)	(71,993,060	)
Loans, net of allowance for loan losses	$	4,643,749		708,773,367		713,417,116



March 31, 2016	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total
Gross loans in bankruptcy, excluding contractually delinquent	$	4,560,322		—		4,560,322
Gross loans contractually delinquent	46,373,923			—		46,373,923
Loans not contractually delinquent and not in bankruptcy	—			1,016,030,097		1,016,030,097
Gross loan balance	50,934,245			1,016,030,097		1,066,964,342
Unearned interest and fees	(12,726,898		)	(277,932,264	)	(290,659,162	)
Net loans	38,207,347			738,097,833		776,305,180
Allowance for loan losses	(33,840,839		)	(35,724,965	)	(69,565,804	)
Loans, net of allowance for loan losses	$	4,366,508		702,372,868		706,739,376



June 30, 2015	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total
Gross loans in bankruptcy, excluding contractually delinquent	$	4,692,823		—		4,692,823
Gross loans contractually delinquent	47,139,095			—		47,139,095
Loans not contractually delinquent and not in bankruptcy	—			1,098,836,752		1,098,836,752
Gross loan balance	51,831,918			1,098,836,752		1,150,668,670
Unearned interest and fees	(12,820,008		)	(301,349,989	)	(314,169,997	)
Net loans	39,011,910			797,486,763		836,498,673
Allowance for loan losses	(34,518,532		)	(37,441,437	)	(71,959,969	)
Loans, net of allowance for loan losses	$	4,493,378		760,045,326		764,538,704

The average net balance of impaired loans was $38.7 million and $39.5 million, respectively, for the three month periods ended June 30, 2016, and 2015. It is not practical to compute the amount of interest earned on impaired loans.

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



	June 30, 2016		March 31, 2016	June 30, 2015
Credit risk
Consumer loans- non-bankrupt accounts	$	1,081,650,322	1,061,436,900	1,145,206,726
Consumer loans- bankrupt accounts	5,851,860		5,527,442	5,461,944
Total gross loans	$	1,087,502,182	1,066,964,342	1,150,668,670

Consumer credit exposure
Credit risk profile based on payment activity, performing	$	1,011,083,612	991,386,552	1,076,373,327
Contractual non-performing, 60 or more days delinquent ⁽¹⁾	76,418,570		75,577,790	74,295,343
Total gross loans	$	1,087,502,182	1,066,964,342	1,150,668,670

Credit risk profile based on customer type
New borrower	$	137,421,921	141,980,629	141,644,702
Former borrower	121,314,533		111,608,375	126,619,807
Refinance	810,003,062		793,913,695	857,726,825
Delinquent refinance	18,762,666		19,461,643	24,677,336
Total gross loans	$	1,087,502,182	1,066,964,342	1,150,668,670

(1) Loans in non-accrual status

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



	June 30, 2016			March 31, 2016		June 30, 2015
Contractual basis:
30-59 days past due	$	42,599,938		40,094,824		41,190,574
60-89 days past due	27,460,571			27,082,385		24,566,924
90 days or more past due	48,957,999			48,495,405		49,728,419
Total	$	119,018,508		115,672,614		115,485,917

Percentage of period-end gross loans receivable	10.9		%	10.8	%	10.0	%

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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