Allowance for Loan Losses and Credit Quality Indicators (Tables)

12 Months Ended

Mar. 31, 2019

The following is a summary of the changes in the allowance for loan losses for the years ended March 31, 2019, 2018, and 2017:



	2019			2018		2017

Balance at beginning of period	$	66,088,139		60,644,365		60,923,204
Provision for loan losses	148,426,578			117,620,140		119,095,712
Loan losses	(148,308,199		)	(127,387,857	)	(135,100,416	)
Recoveries	15,313,106			15,211,491		15,725,865
Balance at end of period	$	81,519,624		66,088,139		60,644,365

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



March 31, 2019	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total

Gross loans in bankruptcy, excluding contractually delinquent	$	4,644,203		—		4,644,203
Gross loans contractually delinquent	59,633,541			—		59,633,541
Loans not contractually delinquent and not in bankruptcy	—			1,063,679,639		1,063,679,639
Gross loan balance	64,277,744			1,063,679,639		1,127,957,383
Unearned interest and fees	(14,319,795		)	(276,493,957	)	(290,813,752	)
Net loans	49,957,949			787,185,682		837,143,631
Allowance for loan losses	(45,511,124		)	(36,008,500	)	(81,519,624	)
Loans, net of allowance for loan losses	$	4,446,825		751,177,182		755,624,007



March 31, 2018	Loans individually evaluated for impairment (impaired loans)			Loans collectively evaluated for impairment		Total

Gross loans in bankruptcy, excluding contractually delinquent	$	4,627,599		—		4,627,599
Gross loans contractually delinquent	50,019,567			—		50,019,567
Loans not contractually delinquent and not in bankruptcy	—			949,585,993		949,585,993
Gross loan balance	54,647,166			949,585,993		1,004,233,159
Unearned interest and fees	(11,433,666		)	(247,557,826	)	(258,991,492	)
Net loans	43,213,500			702,028,167		745,241,667
Allowance for loan losses	(38,782,574		)	(27,305,565	)	(66,088,139	)
Loans, net of allowance for loan losses	$	4,430,926		674,722,602		679,153,528

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



	March 31, 2019		March 31, 2018
Credit risk
Consumer loans- non-bankrupt accounts	$	1,121,895,834	998,299,051
Consumer loans- bankrupt accounts	6,061,549		5,934,108
Total gross loans	$	1,127,957,383	1,004,233,159

Consumer credit exposure
Credit risk profile based on payment activity, performing	$	1,039,774,448	929,400,862
Contractual non-performing, 61 days or more delinquent⁽¹⁾	88,182,935		74,832,297
Total gross loans	$	1,127,957,383	1,004,233,159

Credit risk profile based on customer type
New borrower	$	138,140,479	104,762,628
Former borrower	116,242,182		104,281,551
Refinance	854,880,194		778,115,097
Delinquent refinance	18,694,528		17,073,883
Total gross loans	$	1,127,957,383	1,004,233,159

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



	March 31, 2019			March 31, 2018		March 31, 2017
Contractual basis:
30-60 days past due	$	40,300,574		32,959,151		30,640,748
61-90 days past due	28,549,394			24,812,730		23,002,999
91 days or more past due	59,633,541			50,019,567		43,320,534
Total	$	128,483,509		107,791,448		96,964,281

Percentage of period-end gross loans receivable	11.4		%	10.7	%	10.3	%

Recency basis:
30-60 days past due	$	35,992,122		29,356,319		27,004,856
61-90 days past due	22,393,106			19,523,845		17,671,790
91 days or more past due	42,771,862			34,548,433		29,188,082
Total	$	101,157,090		83,428,597		73,864,728

Percentage of period-end gross loans receivable	9.7		%	9.0	%	8.4	%