Income Taxes (Tables)

12 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Abstract]

Income tax expense (benefit)

Income tax expense (benefit) consists of:

	Current		Deferred		Total
Year ended March 31, 2013
U.S. Federal	$	63,140,638	(8,792,012	)	54,348,626
State and local	8,372,748		(857,958	)	7,514,790
Foreign	1,629,695		(1,292,028	)	337,667
	$	73,143,081	(10,941,998	)	62,201,083
Year ended March 31, 2012
U.S. Federal	$	55,179,487	(2,302,615	)	52,876,872
State and local	5,745,452		112,857		5,858,309
Foreign	2,247,933		(1,804,216	)	443,717
	$	63,172,872	(3,993,974	)	59,178,898
Year ended March 31, 2011
U.S. Federal	$	47,303,032	(19,448	)	47,283,584
State and local	4,953,995		(538,793	)	4,415,202
Foreign	2,580,385		(2,279,239	)	301,146
	$	54,837,412	(2,837,480	)	51,999,932

Income tax expense reconciliation to U.S federal income tax rate to pretax income

Income tax expense was $62,201,083, $59,178,898 and $51,999,932, for the years ended March 31, 2013, 2012 and 2011, respectively, and differed from the amounts computed by applying the U.S. federal income tax rate of 35% to pretax income from continuing operations as a result of the following:

	2013			2012		2011
Expected income tax	$	58,201,791		55,955,669		50,137,189
Increase (reduction) in income taxes resulting from:
State tax, net of federal benefit	4,884,614			3,807,901		2,869,881
Insurance income exclusion	(123,289		)	(118,656	)	(165,289	)
Uncertain tax positions	283,084			(323,651	)	(1,326,568	)
Foreign income adjustments	(961,771		)	(533,246	)	(284,527	)
Other, net	(83,346		)	390,881		769,246
	$	62,201,083		59,178,898		51,999,932

Tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31, 2013 and 2012 are presented below:

	2013			2012
Deferred tax assets:
Allowance for doubtful accounts	$	23,078,422		20,536,315
Unearned insurance commissions	13,190,468			13,206,765
Accounts payable and accrued expenses primarily related to employee benefits	8,021,707			6,260,263
Accrued interest receivable	—			2,903,523
Reserve for uncollectible interest	5,473,804			—
Convertible notes	383,206			563,957
Other	728,658			598,041
Gross deferred tax assets	50,876,265			44,068,864
Less valuation allowance	(1,274		)	(1,274	)
Net deferred tax assets	50,874,991			44,067,590
Deferred tax liabilities:
Fair value adjustment for loans	(13,563,946		)	(17,243,185	)
Property and equipment	(4,134,286		)	(4,397,194	)
Intangible assets	(1,531,635		)	(1,534,837	)
Deferred net loan origination fees	(1,728,710		)	(1,763,007	)
Prepaid expenses	(500,418		)	(654,533	)
Unrealized losses	—			(836	)
Gross deferred tax liabilities	(21,458,995		)	(25,593,592	)
Net deferred tax assets	$	29,415,996		18,473,998

Reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

Unrecognized tax benefits balance at March 31, 2012	$	2,704,386
Gross increases for tax positions of current year	221,879
Gross increases for tax positions of prior years	—
Federal and state tax settlements	—
Lapse of statute of limitations	(141,174		)
Unrecognized tax benefits balance at March 31, 2013	$	2,785,091