ADDED
This determination of affiliate status is not necessarily a conclusive determination for other purposes.) As of May 19, 2025, 5,307,307 shares of the registrant s Common Stock, no par value, were outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 7A.
The Company offers traditional installment loans generally between $400 and $5,000, with the average loan origination being $1,975 in fiscal 2025.
As of March 31, 2025, the Company had 1,024 branches in 16 states, with over 100 branches located in each of Texas and Georgia.
During fiscal 2025, the Company acquired 3 new branches through asset acquisitions and merged 27 branches into other existing branches due to their inability to generate sufficient returns or for efficiency reasons.
We primarily offer pre-computed and interest bearing consumer installment loans with interest and fee income from such loans accounting for 82.3%, 81.7%, and 82.4% of our total revenues in fiscal years 2025, 2024, and 2023, respectively.
The following table sets forth information about our loan products for fiscal 2025: Minimum Origination (1) Maximum Origination (1) Minimum Term (Months) Maximum Term (Months) Small loans $ 150 $ 2,450 4 33 Large loans $ 2,500 $ 25,200 9 60 _______________________________________________________ (1) Gross loan net of finance charges.
As of March 31, 2025, annual percentage rates applicable to our gross loans receivable as defined by the Truth in Lending Act were as follows: Amount Percentage of total gross loans receivable 0 to 36% $ 512,152,059 41.8 % Greater than 36% 713,483,859 58.2 % $ 1,225,635,918 100.0 % The average annual percentage rate of our portfolio was 50.3% as of March 31, 2025.
In fiscal 2025, the captive insurance subsidiary reinsured approximately 11.2% of the credit insurance sold by the Company and contributed approximately $2.4 million to the Company's total revenue.
The Company does not profit from the purchase of non-filing insurance other than through an offset to its charge-offs.
REMOVED
This determination of affiliate status is not necessarily a conclusive determination for other purposes.) As of May 17, 2024, 5,844,898 shares of the registrant s Common Stock, no par value, were outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 32 7A.
Term Definition 2008 Plan World Acceptance Corporation 2008 Stock Option Plan 2011 Plan World Acceptance Corporation 2011 Stock Option Plan 2017 Plan World Acceptance Corporation 2017 Stock Incentive Plan ASC Accounting Standards Codification ASU Accounting Standards Update CECL Current Expected Credit Loss CEO Chief Executive Officer CFO Chief Financial Officer CFPB U.S.
Foreign Corrupt Practices Act of 1977, as amended FICO The Fair Isaac Corporation GAAP U.S.
The Company offers traditional installment loans generally between $350 and $6,000, with the average loan origination being $2,118 in fiscal 2024.
As of March 31, 2024, the Company had 1,048 branches in 16 states, with over 100 branches located in Texas and Georgia.
During fiscal 2024, the Company opened 3 new branches and merged 28 branches into other existing branches due to their inability to generate sufficient returns or for efficiency reasons.
We primarily offer pre-computed and interest bearing consumer installment loans with interest and fee income from such loans accounting for 81.7%, 82.4%, and 83.0% of our total revenues in fiscal years 2024, 2023, and 2022, respectively.
The following table sets forth information about our loan products for fiscal 2024: Minimum Origination (1) Maximum Origination (1) Minimum Term (Months) Maximum Term (Months) Small loans $ 250 $ 2,450 5 30 Large loans $ 2,500 $ 32,400 9 60 _______________________________________________________ (1) Gross loan net of finance charges.
As of March 31, 2024, annual percentage rates applicable to our gross loans receivable as defined by the Truth in Lending Act were as follows: Amount Percentage of total gross loans receivable 0 to 36% $ 595,445,625 46.5 % Greater than 36% 681,703,631 53.5 % $ 1,277,149,256 100.0 % The average annual percentage rate of our portfolio was 47.5% as of March 31, 2024.