XML 34 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 27,832,554 $ 26,037,723
Adjustments to reconcile Net Income (Loss) to net cash provided by operating activities:    
Provision for loan losses 22,250,160 18,492,721
Depreciation and amortization 2,327,098 2,164,317
Provision for deferred income taxes (17,473) 11,724
Earnings in equity method investment (1,108,526)  
Other 914,369 746,312
Decrease (increase) in miscellaneous assets 540,464 (31,057)
Decrease in other liablities (818,875) (1,863,024)
Net Cash Provided by (Used in) Operating Activities 51,919,771 45,558,716
CASH FLOWS FROM INVESTING ACTIVITIES:    
Loans originated or purchased (243,173,102) (235,164,889)
Loan payments 226,135,630 214,234,003
Decrease (increase) in restricted cash 133,418 1,567,998
Purchases of marketable debt securities (25,428,772) (26,158,802)
Purchase of equity fund investment (15,000,000)  
Sales of marketable debt securities   1,799,597
Redemptions of marketable debt securities 13,690,000 11,130,000
Fixed asset additions, net (2,836,638) (1,872,681)
Net Cash Provided by (Used in) Investing Activities (46,479,464) (34,464,774)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in senior demand notes outstanding 4,571,954 4,593,441
Advances on credit line 398,603 398,921
Payments on credit line (398,603) (398,921)
Commercial paper issued 53,257,284 45,290,688
Commercial Paper redeemed (37,032,507) (25,794,813)
Subordinated debt issued 5,348,824 6,735,603
Subordinated debt redeemed (7,188,725) (8,909,432)
Dividends / Distributions (22,385,402) (14,017,609)
Net Cash Provided by (Used in) Financing Activities (3,428,572) 7,897,878
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,011,735 18,991,820
CASH AND CASH EQUIVALENTS, beginning 26,399,839 28,186,035
CASH AND CASH EQUIVALENTS, ending 28,411,574 47,177,855
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for Interest 8,856,306 8,612,416
Cash paid during the period for Taxes 3,332,000 2,724,000
Non-cash Exchange of Investment Securities   $ 1,909,148