other income increased by $ 3.1 million , or 16.5 % , when comparing the two fiscal years due mainly from an increase in tax return income of $ 2.8 million . 30 the provision for loan losses during fiscal 2017 increased by $ 5.0 million , or 4.0 % , from the previous year . this increase resulted from an increase in the amount of loans charged off as well as an increase in the amount of loans that were fully reserved during the year . net charge-offs for fiscal 2017 amounted to $ 125.4 million , a 1.5 % increase over the $ 123.6 million charged off during fiscal 2016 . we believe that the increase in charge-offs is the result of ceasing all in-person visits to delinquent borrowers in december 2015. accounts that were 60 days or more past due were 5.5 % and 4.7 % on a recency basis , and were 7.8 % and 7.1 % on a contractual basis at march 31 , 2017 and march 31 , 2016 , respectively . when excluding the impact of payroll deduct loans in mexico , the accounts contractually delinquent 60 days or more past due were 6.9 % at march 31 , 2017 compared to 6.4 % at march 31 , 2016. during the fiscal 2017 , the company also had an increase in year-over-year loan loss ratios . net charge-offs as a percentage of average net loans increased from 14.8 % during fiscal 2016 to 15.7 % during fiscal 2017 . during fiscal 2017 , the company had a charge-off ratio of 15.7 % , which is elevated compared to historical levels . from fiscal 2002 to fiscal 2006 , the charge-offs as a percent of average loans ranged from 14.6 % to 14.8 % . in fiscal 2007 , the company experienced a temporary decline to 13.3 % , which was attributed to a change in the bankruptcy law but returned to 14.5 % in fiscal 2008. in fiscal 2009 the ratio increased to 16.7 % , the highest in the company 's history as a result of the difficult economic environment and higher energy costs that our customers faced . the ratio steadily declined from 15.5 % in fiscal 2010 to 13.9 % in fiscal 2013 and increased to 14.7 % in fiscal 2014. general and administrative expenses during fiscal 2017 decreased by $ 1.5 million , or 0.5 % , over the previous fiscal year . personnel expense only increased $ 2.4 million despite the prior year benefiting from the release of $ 11.4 million of expense previously accrued for long-term equity incentive awards . other expense decreased due to $ 1.2 million of expense related to a planned bond offering that was not completed being recorded in fiscal 2016 as well as a $ 1.5 million decrease in mileage expense . occupancy and equipment expense decreased due to a $ 1.3 million loss taken as a result of the sale of the corporate jet in fiscal 2016. general and administrative expenses , when divided by average open branches , increased 0.4 % when comparing the two fiscal years and , overall , general and administrative expenses as a percent of total revenues increased to 50.3 % in fiscal 2017 from 48.3 % in fiscal 2016 . interest expense decreased by $ 5.3 million , or 19.9 % , during fiscal 2017 , as compared to the previous fiscal year as a result of a 3.6 % decrease in the effective rate and a decrease in average debt outstanding of 24.1 % . income tax expense decreased $ 10.1 million , or 20.0 % , primarily from a decrease in pre-tax income . the effective tax rate decreased to 35.4 % for fiscal 2017 compared to 36.6 % for fiscal 2016 . the decrease was primarily due to a reduction in state tax expense related to the company 's settlement with a state taxing authority during the current year . comparison of fiscal 2016 versus fiscal 2015 net income was $ 87.4 million during fiscal 2016 , a 21.1 % decrease from the $ 110.8 million earned during fiscal 2015. the decrease in net income was significantly impacted by a $ 10.0 million after-tax gain realized during fiscal 2015 from the sale of previously charged-off accounts that was not repeated in fiscal 2016 operating income ( revenues less provision for loan losses and general and administrative expenses ) excluding the impact of the charge-off sale decreased $ 18.6 million due to a $ 29.1 million decrease in interest and fee income and a $ 4.8 million increase in provision expense offset by a $ 22.9 million decrease in general and administrative expenses . net income was also impacted by a $ 14.7 million decrease in income tax expense and a $ 3.5 million increase in interest expense . total revenues decreased to $ 557.5 million in fiscal 2016 , a $ 52.7 million , or 8.6 % , decrease from the $ 610.2 million in fiscal 2015. revenues from the 1,233 branches open throughout both fiscal years decreased by 6.9 % . at march 31 , 2016 , the company had 1,339 branches in operation , an increase of 19 branches from march 31 , 2015. interest and fee income during fiscal 2016 decreased by $ 29.1 million , or 5.6 % , from fiscal 2015. we experienced a 3.3 % decrease in our average net loans receivable less loans that are 60 days or more contractually past due when comparing two corresponding periods for our u.s. and traditional mexican loans . the accrual of interest is discontinued when a loan becomes 60 days or more past the contractual due date and all unpaid accrued interest is reversed against interest income . interest and fee income for the year was also negatively impacted by a continued decrease in volumes . story_separator_special_tag to overcome this presumption of inability to repay , the lender would have to verify an improvement in the borrower 's financial capacity to indicate an ability to repay the additional extension of credit . these proposals are subject to possible change before any final rules would be issued and implemented and we can not predict what the ultimate rulemaking will provide . the company does not believe that these proposals as currently described by the cfpb would have a material impact on the company 's existing lending procedures , because the company currently underwrites all its loans ( including those secured by a vehicle title that would fall within the scope of these proposals ) by reviewing the customer 's ability to repay based on the company 's standards . however , there can be no assurance that these proposals for longer-term loans , if and when implemented in final rulemaking , would not require changes to the company 's practices and procedures for such loans that could materially and adversely affect the company 's ability to make such loans , the cost of making such loans , the company 's ability to , or frequency with which it could , refinance any such loans , and the profitability of such loans . any final rulemaking also could have effects beyond those contemplated in the initial proposal that could further materially and adversely impact our business and operations . the cfpb 's outline of the proposed rulemaking initiative described above , the cfpb also stated that it expects to conduct separate rulemaking to identify larger participants in the installment lending market for purposes of its supervision program . though the timing of any such rulemaking is uncertain , the company believes that the implementation of such rules would likely bring the company 's business under the cfpb 's supervisory authority which , among other things , would subject the company to reporting obligations to , and on-site compliance examinations by , the cfpb . see part i , item 1 , “ business - government regulation - federal legislation , ” for a further discussion of these matters and the federal regulations to which the company 's operations are subject and part i , item 1a , “ risk factors , ” for more information regarding these regulatory and related risks . military lending act 34 in july 2015 , the department of defense ( the “ dod ” ) amended its regulations implementing the military lending act ( the “ mla ” ) by issuing final regulations ( the “ final rule ” ) . prior mla regulations prohibited creditors from making payday loans , non-purchase money motor vehicle title loans with a term of less than 181 days , and refund anticipation loans to “ covered borrowers , ” which includes members of the armed forces ( i ) on active duty ; ( ii ) on active guard and reserve duty ; and ( iii ) their dependents if the apr exceeded 36 % . the company did not make any of the loans covered under the prior mla regulations . however , the final rule expands the mla and its 36 % apr cap to cover a broader range of credit products . the final rule covers credit offered or extended to a “ covered borrower ” primarily for personal , family , or household purposes that is either subject to a finance charge or payable by a written agreement in more than four installments . the final rule mandates , among other things , that a creditor must provide both oral and written disclosures , including an all-inclusive apr referred to as the military annual percentage rate ( “ mapr ” ) , and must not require arbitration in agreements with “ covered borrowers . `` additionally , the final rule prohibits creditors from entering into any credit transactions with covered borrowers that use the title of a vehicle as security for the credit obligation . creditors may elect to check a borrower 's status as a “ covered borrower ” either in a database maintained by the dod or through a nationwide consumer reporting agency before entering into a consumer credit transaction . doing so provides a creditor with a legally conclusive determination as to the borrower 's status and affords the creditor a safe harbor from liability as to the “ covered borrower ” determination . while the final rule became effective on october 1 , 2015 , the limitations in the final rule apply only to consumer credit transactions or accounts for consumer credit consummated or established on or after october 3 , 2016. as such , effective september 1 , 2016 , the company elected to no longer make loans to covered borrowers ( active duty military personnel and their dependents ) due to these new restrictions in the law . the company believes the implementation of the final rule will not adversely affect its operations or financial condition . new mexico rate cap bills on december 15 , 2016 , a bill was pre-filed in the new mexico state senate , which , if enacted , would place a 36 % rate cap on any contract for the extension of credit entered into after july 1 , 2017. this initiative was tabled in early february 2015 by a legislative committee . if similar legislation is passed in any of the states in which we operate , it could materially and adversely affect , or in the worst case eliminate , the company 's lending practices , operations , profitability or prospects . the company , through its state and federal trade associations , worked to oppose this legislation ; however , it is uncertain whether these efforts will be successful in preventing the passage of similar legislation in the future . as discussed elsewhere in this report , the company 's operations are subject to extensive state and federal

liquidity and capital resources the company has financed and continues to finance its operations , acquisitions and branch expansion through a combination of cash flows from operations and borrowings from its institutional lenders . the company has generally applied its cash flows from operations to fund its loan volume , fund acquisitions , repay long-term indebtedness and repurchase its common stock . as the company 's gross loans receivable decreased from $ 1,112.3 million at march 31 , 2014 to $ 1,059.8 million at march 31 , 2017 , net cash provided by operating activities for fiscal years 2017 , 2016 and 2015 was $ 219.4 million , $ 206.1 million and $ 241.9 million , respectively . the company continues to believe stock repurchases to be a viable component of the company 's long-term financial strategy and an excellent use of excess cash when the opportunity arises . however , our amended credit facility limits share repurchases to 50 % of consolidated adjusted net income in any fiscal year commencing with the fiscal year ending march 31 , 2017. the company plans to open or acquire approximately 25 branches in the united states during fiscal 2018 . expenditures by the company to open and furnish new branches averaged approximately $ 35,000 per branch during fiscal 2017 .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources the company has financed and continues to finance its operations , acquisitions and branch expansion through a combination of cash flows from operations and borrowings from its institutional lenders . the company has generally applied its cash flows from operations to fund its loan volume , fund acquisitions , repay long-term indebtedness and repurchase its common stock . as the company 's gross loans receivable decreased from $ 1,112.3 million at march 31 , 2014 to $ 1,059.8 million at march 31 , 2017 , net cash provided by operating activities for fiscal years 2017 , 2016 and 2015 was $ 219.4 million , $ 206.1 million and $ 241.9 million , respectively . the company continues to believe stock repurchases to be a viable component of the company 's long-term financial strategy and an excellent use of excess cash when the opportunity arises . however , our amended credit facility limits share repurchases to 50 % of consolidated adjusted net income in any fiscal year commencing with the fiscal year ending march 31 , 2017. the company plans to open or acquire approximately 25 branches in the united states during fiscal 2018 . expenditures by the company to open and furnish new branches averaged approximately $ 35,000 per branch during fiscal 2017 .
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 Suspicious Activity Report : other income increased by $ 3.1 million , or 16.5 % , when comparing the two fiscal years due mainly from an increase in tax return income of $ 2.8 million . 30 the provision for loan losses during fiscal 2017 increased by $ 5.0 million , or 4.0 % , from the previous year . this increase resulted from an increase in the amount of loans charged off as well as an increase in the amount of loans that were fully reserved during the year . net charge-offs for fiscal 2017 amounted to $ 125.4 million , a 1.5 % increase over the $ 123.6 million charged off during fiscal 2016 . we believe that the increase in charge-offs is the result of ceasing all in-person visits to delinquent borrowers in december 2015. accounts that were 60 days or more past due were 5.5 % and 4.7 % on a recency basis , and were 7.8 % and 7.1 % on a contractual basis at march 31 , 2017 and march 31 , 2016 , respectively . when excluding the impact of payroll deduct loans in mexico , the accounts contractually delinquent 60 days or more past due were 6.9 % at march 31 , 2017 compared to 6.4 % at march 31 , 2016. during the fiscal 2017 , the company also had an increase in year-over-year loan loss ratios . net charge-offs as a percentage of average net loans increased from 14.8 % during fiscal 2016 to 15.7 % during fiscal 2017 . during fiscal 2017 , the company had a charge-off ratio of 15.7 % , which is elevated compared to historical levels . from fiscal 2002 to fiscal 2006 , the charge-offs as a percent of average loans ranged from 14.6 % to 14.8 % . in fiscal 2007 , the company experienced a temporary decline to 13.3 % , which was attributed to a change in the bankruptcy law but returned to 14.5 % in fiscal 2008. in fiscal 2009 the ratio increased to 16.7 % , the highest in the company 's history as a result of the difficult economic environment and higher energy costs that our customers faced . the ratio steadily declined from 15.5 % in fiscal 2010 to 13.9 % in fiscal 2013 and increased to 14.7 % in fiscal 2014. general and administrative expenses during fiscal 2017 decreased by $ 1.5 million , or 0.5 % , over the previous fiscal year . personnel expense only increased $ 2.4 million despite the prior year benefiting from the release of $ 11.4 million of expense previously accrued for long-term equity incentive awards . other expense decreased due to $ 1.2 million of expense related to a planned bond offering that was not completed being recorded in fiscal 2016 as well as a $ 1.5 million decrease in mileage expense . occupancy and equipment expense decreased due to a $ 1.3 million loss taken as a result of the sale of the corporate jet in fiscal 2016. general and administrative expenses , when divided by average open branches , increased 0.4 % when comparing the two fiscal years and , overall , general and administrative expenses as a percent of total revenues increased to 50.3 % in fiscal 2017 from 48.3 % in fiscal 2016 . interest expense decreased by $ 5.3 million , or 19.9 % , during fiscal 2017 , as compared to the previous fiscal year as a result of a 3.6 % decrease in the effective rate and a decrease in average debt outstanding of 24.1 % . income tax expense decreased $ 10.1 million , or 20.0 % , primarily from a decrease in pre-tax income . the effective tax rate decreased to 35.4 % for fiscal 2017 compared to 36.6 % for fiscal 2016 . the decrease was primarily due to a reduction in state tax expense related to the company 's settlement with a state taxing authority during the current year . comparison of fiscal 2016 versus fiscal 2015 net income was $ 87.4 million during fiscal 2016 , a 21.1 % decrease from the $ 110.8 million earned during fiscal 2015. the decrease in net income was significantly impacted by a $ 10.0 million after-tax gain realized during fiscal 2015 from the sale of previously charged-off accounts that was not repeated in fiscal 2016 operating income ( revenues less provision for loan losses and general and administrative expenses ) excluding the impact of the charge-off sale decreased $ 18.6 million due to a $ 29.1 million decrease in interest and fee income and a $ 4.8 million increase in provision expense offset by a $ 22.9 million decrease in general and administrative expenses . net income was also impacted by a $ 14.7 million decrease in income tax expense and a $ 3.5 million increase in interest expense . total revenues decreased to $ 557.5 million in fiscal 2016 , a $ 52.7 million , or 8.6 % , decrease from the $ 610.2 million in fiscal 2015. revenues from the 1,233 branches open throughout both fiscal years decreased by 6.9 % . at march 31 , 2016 , the company had 1,339 branches in operation , an increase of 19 branches from march 31 , 2015. interest and fee income during fiscal 2016 decreased by $ 29.1 million , or 5.6 % , from fiscal 2015. we experienced a 3.3 % decrease in our average net loans receivable less loans that are 60 days or more contractually past due when comparing two corresponding periods for our u.s. and traditional mexican loans . the accrual of interest is discontinued when a loan becomes 60 days or more past the contractual due date and all unpaid accrued interest is reversed against interest income . interest and fee income for the year was also negatively impacted by a continued decrease in volumes . story_separator_special_tag to overcome this presumption of inability to repay , the lender would have to verify an improvement in the borrower 's financial capacity to indicate an ability to repay the additional extension of credit . these proposals are subject to possible change before any final rules would be issued and implemented and we can not predict what the ultimate rulemaking will provide . the company does not believe that these proposals as currently described by the cfpb would have a material impact on the company 's existing lending procedures , because the company currently underwrites all its loans ( including those secured by a vehicle title that would fall within the scope of these proposals ) by reviewing the customer 's ability to repay based on the company 's standards . however , there can be no assurance that these proposals for longer-term loans , if and when implemented in final rulemaking , would not require changes to the company 's practices and procedures for such loans that could materially and adversely affect the company 's ability to make such loans , the cost of making such loans , the company 's ability to , or frequency with which it could , refinance any such loans , and the profitability of such loans . any final rulemaking also could have effects beyond those contemplated in the initial proposal that could further materially and adversely impact our business and operations . the cfpb 's outline of the proposed rulemaking initiative described above , the cfpb also stated that it expects to conduct separate rulemaking to identify larger participants in the installment lending market for purposes of its supervision program . though the timing of any such rulemaking is uncertain , the company believes that the implementation of such rules would likely bring the company 's business under the cfpb 's supervisory authority which , among other things , would subject the company to reporting obligations to , and on-site compliance examinations by , the cfpb . see part i , item 1 , “ business - government regulation - federal legislation , ” for a further discussion of these matters and the federal regulations to which the company 's operations are subject and part i , item 1a , “ risk factors , ” for more information regarding these regulatory and related risks . military lending act 34 in july 2015 , the department of defense ( the “ dod ” ) amended its regulations implementing the military lending act ( the “ mla ” ) by issuing final regulations ( the “ final rule ” ) . prior mla regulations prohibited creditors from making payday loans , non-purchase money motor vehicle title loans with a term of less than 181 days , and refund anticipation loans to “ covered borrowers , ” which includes members of the armed forces ( i ) on active duty ; ( ii ) on active guard and reserve duty ; and ( iii ) their dependents if the apr exceeded 36 % . the company did not make any of the loans covered under the prior mla regulations . however , the final rule expands the mla and its 36 % apr cap to cover a broader range of credit products . the final rule covers credit offered or extended to a “ covered borrower ” primarily for personal , family , or household purposes that is either subject to a finance charge or payable by a written agreement in more than four installments . the final rule mandates , among other things , that a creditor must provide both oral and written disclosures , including an all-inclusive apr referred to as the military annual percentage rate ( “ mapr ” ) , and must not require arbitration in agreements with “ covered borrowers . `` additionally , the final rule prohibits creditors from entering into any credit transactions with covered borrowers that use the title of a vehicle as security for the credit obligation . creditors may elect to check a borrower 's status as a “ covered borrower ” either in a database maintained by the dod or through a nationwide consumer reporting agency before entering into a consumer credit transaction . doing so provides a creditor with a legally conclusive determination as to the borrower 's status and affords the creditor a safe harbor from liability as to the “ covered borrower ” determination . while the final rule became effective on october 1 , 2015 , the limitations in the final rule apply only to consumer credit transactions or accounts for consumer credit consummated or established on or after october 3 , 2016. as such , effective september 1 , 2016 , the company elected to no longer make loans to covered borrowers ( active duty military personnel and their dependents ) due to these new restrictions in the law . the company believes the implementation of the final rule will not adversely affect its operations or financial condition . new mexico rate cap bills on december 15 , 2016 , a bill was pre-filed in the new mexico state senate , which , if enacted , would place a 36 % rate cap on any contract for the extension of credit entered into after july 1 , 2017. this initiative was tabled in early february 2015 by a legislative committee . if similar legislation is passed in any of the states in which we operate , it could materially and adversely affect , or in the worst case eliminate , the company 's lending practices , operations , profitability or prospects . the company , through its state and federal trade associations , worked to oppose this legislation ; however , it is uncertain whether these efforts will be successful in preventing the passage of similar legislation in the future . as discussed elsewhere in this report , the company 's operations are subject to extensive state and federal

