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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Cash flow from operating activities:      
Net income $ 21,231,990 $ 53,919,837 $ 88,282,828
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss on assets held for sale 0 38,633 37,579
Amortization of intangible assets 4,466,535 5,010,275 5,474,240
Amortization of historic tax credits 0 3,930,753 1,736,384
Accrued unearned interest 3,213,737 (9,032,020) 9,698,671
Gain on extinguishment of senior unsecured notes payable (1,831,277) 0 0
Amortization of deferred loan costs 15,526,336 16,911,599 17,101,722
Amortization of debt issuance costs 1,654,916 1,095,325 659,292
Provision for credit losses 259,463,199 186,207,341 86,244,714
Depreciation 6,239,266 6,253,175 6,537,957
Amortization of finance leases 204,552 407,624 407,624
Gain on asset acquisition, net of income tax (3,993,168) 0 0
Loss on sale of property and equipment 11,837 419,975 2,812,404
Deferred income tax expense (benefit) (2,102,085) (14,808,715) 5,651,362
Compensation related to stock option and restricted stock plans, net of taxes and adjustments 9,052,835 17,582,995 19,281,278
Gain on sale of loans receivable 0 0 (24,667)
Gain on company-owned life insurance (104,113) (106,885) (1,064,897)
Change in accounts:      
Other assets, net (9,147,152) (8,193,529) (4,234,933)
Income taxes payable and receivable (4,851,403) (4,191,692) 6,610,559
Accounts payable and accrued expenses (7,482,219) 17,001,850 (18,258,393)
Net cash provided by operating activities 291,553,786 272,446,541 226,953,724
Cash flows from investing activities:      
Increase in loans receivable, net (152,154,050) (436,311,573) (56,143,765)
Cash paid for acquisitions, primarily loans (23,131,758) (10,859,984) (19,774,252)
Purchases of property and equipment (5,827,773) (6,070,414) (11,683,858)
Proceeds from sale of property and equipment 529,781 245,935 346,943
Proceeds from the sale of assets held for sale 0 1,104,895 2,810,391
Proceeds from the sale of loans receivable 0 0 449,327
Proceeds from company-owned life insurance 0 0 1,997,279
Net cash used in investing activities (180,583,800) (451,891,141) (81,997,935)
Cash flow from financing activities:      
Borrowings from senior notes payable 313,862,948 515,315,246 310,984,250
Payments on senior notes payable (402,924,870) (523,350,000) (357,076,750)
Payments for extinguished senior unsecured notes payable (7,171,700) 0 0
Issuance of senior unsecured notes payable 0 300,000,000 0
Debt issuance costs associated with senior unsecured notes payable (19,656) (5,119,647) 0
Payments for debt extinguishment costs (22,850) 0 0
Debt issuance costs associated with senior notes payable (1,139,008) 0 (784,250)
Proceeds from exercise of stock options 654,920 12,805,646 12,268,554
Payments for taxes related to net share settlement of equity awards (2,543,001) (5,072,230) (3,173,735)
Repurchase of common stock (14,314,089) (111,139,261) (102,452,302)
Repayment of finance lease (80,067) (505,286) (594,024)
Net cash provided by (used in) financing activities (113,697,373) 182,934,468 (140,828,257)
Net change in cash and cash equivalents (2,727,387) 3,489,868 4,127,532
Cash and cash equivalents at beginning of year 19,236,322 15,746,454 11,618,922
Cash and cash equivalents at end of year 16,508,935 19,236,322 15,746,454
Supplemental Disclosures:      
Interest paid during the year 51,761,768 21,318,911 24,993,898
Income taxes paid during the year 10,783,143 30,941,852 14,857,555
Finance lease right-of-use assets, net transferred to property and equipment, net $ 402,960 $ 0 $ 0