XML 19 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flow from operating activities:    
Net income $ 13,067,686 $ 16,617,954
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 185,822 110,055
Amortization of loan costs and discounts 238,963 703,721
Provision for loan losses 30,840,058 32,014,277
Depreciation 1,791,453 1,741,007
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property 61,639 39,885
Deferred income tax benefit (985,424) (1,607,396)
Compensation related to stock option and restricted stock plans 1,132,077 553,526
Gain (Loss) on Sales of Consumer Loans 0 0
Change in accounts:    
Other assets, net 2,579,191 1,355,205
Income taxes payable 2,449,633 10,190,089
Accounts payable and accrued expenses (1,272,161) (5,996,755)
Net cash provided by operating activities 50,088,937 55,721,568
Cash flows from investing activities:    
Increase in loans receivable, net (51,779,690) (42,167,594)
Proceeds from Sale of Loans Receivable 0 0
Purchases of property and equipment (2,015,900) (1,390,712)
Proceeds from Sale of Property, Plant, and Equipment 70,752 172,027
Net cash used in investing activities (56,555,425) (43,386,279)
Cash flow from financing activities:    
Borrowings from senior notes payable 61,343,800 55,875,000
Payments on senior notes payable (55,930,000) (70,200,000)
Proceeds from exercise of stock options 5,334,886 166,857
Payments of Loan Costs (420,000) 0
Repurchase of common stock (4,614,331) 0
Excess tax benefits from exercise of stock options 0 (171,069)
Net cash provided by financing activities 5,714,355 (14,329,212)
Increase in cash and cash equivalents (657,899) (2,253,249)
Effects of foreign currency fluctuations on cash 94,234 (259,326)
Cash and cash equivalents at beginning of period 15,200,410 12,377,024
Cash and cash equivalents at end of period 14,542,511 10,123,775
Interest Paid 3,883,860 4,944,649
Income Taxes Paid 6,375,281 1,501,419
Net assets acquired from acquisition primarily loans (2,309,245) 0
Net Assets Acquired from Acquisition, Intangibles $ (521,342) $ 0