Cautionary Note Regarding Forward-Looking Information



This report on Form 10-Q, including "Management's Discussion and Analysis of
Financial Condition and Results of Operations," contains various
"forward-looking statements," within the meaning of The Private Securities
Litigation Reform Act of 1995, that are based on management's beliefs and
assumptions, as well as information currently available to
management. Statements other than those of historical fact, as well as those
identified by the words "anticipate," "estimate," "intend," "plan," "expect,"
"believe," "may," "will," "should," "would," "could," "continue,"and any
variation of the foregoing and similar expressions are forward-looking
statements. Although the Company believes that the expectations reflected in any
such forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to be correct. Any such statements are subject to
certain risks, uncertainties and assumptions. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect,
the Company's actual financial results, performance or financial condition may
vary materially from those anticipated, estimated or expected. Therefore, you
should not rely on any of these forward-looking statements.

Among the key factors that could cause our actual financial results, performance
or condition to differ from the expectations expressed or implied in such
forward-looking statements are the following: recently enacted, proposed or
future legislation and the manner in which it is implemented, including the
effect of changes in tax law; the nature and scope of regulatory authority,
particularly discretionary authority, that may be exercised by regulators,
including, but not limited to, the SEC, DOJ, CFPB, and individual state
regulators having jurisdiction over the Company; the unpredictable nature of
regulatory proceedings and litigation; risks associated with the COVID-19
pandemic and the mitigation efforts by governments and related effects on us,
our customers, and employees; the sale of our Mexico subsidiaries, including
claims or litigation resulting therefrom; uncertainties associated with
management turnover and the effective succession of senior management; the
impact of changes in accounting rules and regulations, or their interpretation
or application, which could materially and adversely affect the Company's
reported consolidated financial statements or necessitate material delays or
changes in the issuance of the Company's audited consolidated financial
statements; the Company's assessment of its internal control over financial
reporting; changes in interest rates; risks relating to the acquisition or sale
of assets or businesses or other strategic initiatives, including increased loan
delinquencies or net charge-offs, integration or migration issues, increased
costs of servicing, incomplete records, and retention of customers; risks
inherent in making loans, including repayment risks and value of collateral;
cybersecurity threats, including the potential misappropriation of assets or
sensitive information, corruption of data or operational disruption; our
dependence on debt and the potential impact of limitations in the Company's
amended revolving credit facility; the timing and amount of revenues that may be
recognized by the Company; changes in current revenue and expense trends
(including trends affecting delinquency and charge-offs); changes in the
Company's markets and general changes in the economy (particularly in the
markets served by the Company). These and other risks are discussed in more
detail in Part I, Item 1A "Risk Factors" in the Company's most recent annual
report on Form 10-K for the fiscal year ended March 31, 2020 filed with the SEC,
and in the Company's other reports filed with, or furnished to, the SEC from
time to time. The Company does not undertake any obligation to update any
forward-looking statements it may make.

Results of Operations



The following table sets forth certain information derived from the Company's
consolidated statements of operations and balance sheets (unaudited), as well as
operating data and ratios, for the periods indicated:
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  Table of Contents
                                                                                       Three months ended June 30,
                                                                                        2020                   2019
                                                                                          (Dollars in thousands)
Gross loans receivable                                                            $    1,067,877          $ 1,222,696
Average gross loans receivable (1)                                                     1,113,530            1,173,917
Net loans receivable (2)                                                                 794,284              901,968
Average net loans receivable (3)                                                         831,388              868,582

Expenses as a percentage of total revenue:
Provision for credit losses                                                                 20.7  %              29.8  %
General and administrative                                                                  57.8  %              59.1  %
Interest expense                                                                             4.5  %               3.2  %
Operating income as a % of total revenue (4)                                                21.5  %              11.1  %

Loan volume (5)                                                                          463,484              752,148

Net charge-offs as percent of average net loans receivable                                  18.3  %              16.3  %

Return on average assets (trailing 12 months)                                                3.4  %               7.5  %

Return on average equity (trailing 12 months)                                                8.2  %              12.1  %

Branches opened or acquired (merged or closed), net                                           (3)                  25

Branches open (at period end)                                                              1,240                1,218

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(1) Average gross loans receivable have been determined by averaging month-end
gross loans receivable over the indicated period, excluding tax advances.
(2) Net loans receivable is defined as gross loans receivable less unearned
interest and deferred fees.
(3) Average net loans receivable have been determined by averaging month-end
gross loans receivable less unearned interest and deferred fees over the
indicated period, excluding tax advances.
(4) Operating income is computed as total revenue less provision for credit
losses and general and administrative expenses.
(5) Loan volume includes all loans generated by the Company. It does not include
loans purchased through acquisitions.

Adjustments subsequent to the release of earnings on July 30, 2020



The Company has made certain adjustments to its treatment of the amortization
related to historic tax credits purchased during fiscal 2020 since the Company's
earnings release was furnished on July 30, 2020. The adjustments reclassify the
amortization of the historic tax credits from the amortization of intangible
assets line item to the other expense line item. As a result of these
corrections, the below line items have been adjusted as follows:

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