Allowance for loan losses

 

Allowance for loan losses - A valuation allowance to offset credit losses specifically identified in the quick cash loan portfolio, as well as management’s best estimate of probable losses in the remainder of the portfolio at the balance sheet date. Management estimates the allowance balance required using past same day loan loss experience, an assessment of the financial condition of individual borrowers, a determination of the value and adequacy of underlying collateral, the condition of the local economy, an analysis of the levels and trends of the loan portfolio, and a review of delinquent and classified loans. Actual losses could differ significantly from the amounts estimated by management.

cash loans

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