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SEGMENT REPORTING (Tables)

9 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

The following tables summarize the Company's Statement of Operations by its reportable segments for the periods presented. There are no revenues from transactions between the segments and intercompany balances have been eliminated in disclosures.

			Three months ended December 31, 2024
STATEMENT OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	120,700					$	8,598					$	—					$	14,138					$	143,436
Net gain/(loss) on trading securities			20,905						66,773						3,319						(1,433)						89,564
Interest income			72,828						135,222						15,378						1,260						224,688
Insurance underwriting income			—						—						177,472						—						177,472
Net (loss)/gain on foreign exchange operations			(2,621)						(14,621)						2,301						18,886						3,945
Net gain on derivatives			1,078						10,770						—						41						11,889
Other income/(expense), net			441						(372)						(639)						4,766						4,196
TOTAL REVENUE, NET			213,331						206,370						197,831						37,658						655,190
Fee and commission expense			11,583						4,099						74,840						3,405						93,927
Interest expense			15,774						101,864						2,963						10,535						131,136
Insurance claims incurred, net of reinsurance			—						—						104,511						—						104,511
Payroll and bonuses			26,368						16,916						9,650						24,461						77,395
Professional services			1,635						412						595						8,313						10,955
Stock compensation expense			8,328						2,174						1,549						1,366						13,417
Advertising expense			14,803						1,239						77						5,353						21,472
General and administrative expense			10,048						11,237						4,374						47,778						73,437
Provision for allowance expected credit losses			1,391						27,754						1,103						364						30,612
TOTAL EXPENSE			89,930						165,695						199,662						101,575						556,862
INCOME BEFORE INCOME TAX			$	123,401					$	40,675					$	(1,831)					$	(63,917)					$	98,328
Income tax (expense)/benefit			(21,105)						(6,223)						(3,360)						10,497						(20,191)
NET INCOME/ (LOSS)			$	102,296					$	34,452					$	(5,191)					$	(53,420)					$	78,137

			Nine months ended December 31, 2024
STATEMENT OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	327,283					$	13,592					$	147					$	38,954					$	379,976
Net gain/(loss) on trading securities			31,874						69,616						7,053						(2,764)						105,779
Interest income			188,465						423,271						45,342						3,938						661,016
Insurance underwriting income			—						—						467,224						—						467,224
Net gain/(loss) on foreign exchange operations			9,722						(35,882)						3,696						40,977						18,513
Net gain on derivative			2,409						28,241						—						41						30,691
Other income/(expense), net			3,291						243						(193)						20,265						23,606
TOTAL REVENUE, NET			563,044						499,081						523,269						101,411						1,686,805
Fee and commission expense			25,224						9,950						213,888						15,849						264,911
Interest expense			69,067						298,205						8,796						25,451						401,519
Insurance claims incurred, net of reinsurance			—						—						218,504						—						218,504
Payroll and bonuses			67,534						46,757						24,266						62,572						201,129
Professional services			5,891						576						1,302						18,699						26,468
Stock compensation expense			19,925						6,305						4,353						5,505						36,088
Advertising expense			41,449						3,132						541						13,600						58,722
General and administrative expense			28,956						36,101						17,173						89,552						171,782
Provision/(Recovery of) for allowance for expected credit losses			1,484						36,775						1,500						(490)						39,269
TOTAL EXPENSE			259,530						437,801						490,323						230,738						1,418,392
INCOME BEFORE INCOME TAX			$	303,514					$	61,280					$	32,946					$	(129,327)					$	268,413
Income tax (expense)/benefit			(45,940)						(9,641)						(9,544)						23,596						(41,529)
NET INCOME			$	257,574					$	51,639					$	23,402					$	(105,731)					$	226,884

			Three months ended December 31, 2023
STATEMENTS OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	103,406					$	1,502					$	38					$	15,213					$	120,159
Net (loss)/gain on trading securities			(722)						(5,630)						329						934						(5,089)
Interest income			66,169						144,070						14,700						1,506						226,445
Insurance underwriting income			—						—						79,017						—						79,017
Net (loss)/gain on foreign exchange operations			(3,388)						41,648						27						538						38,825
Net loss on derivative			(1,257)						(41,311)						—						—						(42,568)
Other income/(expense), net			1,049						42						1,827						(1,073)						1,845
TOTAL REVENUE, NET			165,257						140,321						95,938						17,118						418,634
Fee and commission expense			6,482						3,851						29,328						3,157						42,818
Interest expense			19,718						102,753						6,925						1,827						131,223
Insurance claims incurred, net of reinsurance			—						—						40,989						—						40,989
Payroll and bonuses			23,607						6,472						4,538						10,466						45,083
Professional services			1,424						102						227						4,464						6,217
Stock compensation expense			693						48						29						269						1,039
Advertising expense			7,274						1,078						230						2,484						11,066
General and administrative expense			9,962						7,159						1,166						13,819						32,106
Provision/(Recovery of) for allowance for expected credit losses			4,200						(7,547)						(633)						454						(3,526)
TOTAL EXPENSE			73,360						113,916						82,799						36,940						307,015
INCOME BEFORE INCOME TAX			$	91,897					$	26,405					$	13,139					$	(19,822)					$	111,619
Income tax expense			(9,603)						—						(8)						(5,933)						(15,544)
NET INCOME			$	82,294					$	26,405					$	13,131					$	(25,755)					$	96,075

			Nine months ended December 31, 2023
STATEMENTS OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	255,052					$	24,194					$	82					$	51,237					$	330,565
Net gain/(loss) on trading securities			25,555						39,360						13,146						(563)						77,498
Interest income			158,284						376,464						49,399						4,710						588,857
Insurance underwriting income			—						—						181,882						—						181,882
Net gain/(loss) on foreign exchange operations			1,732						54,098						(641)						(759)						54,430
Net (loss)/gain on derivative			(960)						(71,406)						—						571						(71,795)
Other income, net			2,913						14						3,042						3,019						8,988
TOTAL REVENUE, NET			442,576						422,724						246,910						58,215						1,170,425
Fee and commission expense			18,782						12,972						65,182						6,180						103,116
Interest expense			69,271						265,163						25,386						5,830						365,650
Insurance claims incurred, net of reinsurance			—						—						96,491						—						96,491
Payroll and bonuses			49,797						28,987						11,433						26,494						116,711
Professional services			5,376						392						401						18,624						24,793
Stock compensation expense			2,141						162						97						903						3,303
Advertising expense			18,130						3,834						611						5,230						27,805
General and administrative expense			31,688						20,332						3,738						30,453						86,211
Provision for allowance for expected credit losses			3,568						9,206						679						2,009						15,462
TOTAL EXPENSE			198,753						341,048						204,018						95,723						839,542
INCOME BEFORE INCOME TAX			$	243,823					$	81,676					$	42,892					$	(37,508)					$	330,883
Income tax (expense)/benefit			(20,074)						—						22						(31,356)						(51,408)
NET INCOME			$	223,749					$	81,676					$	42,914					$	(68,864)					$	279,475

The following tables summarize the Company's total assets and total liabilities by its business segments as of the dates presented. Intercompany balances have been eliminated for separate disclosure.

			December 31, 2024
			Brokerage						Banking						Insurance						Other						Total
Total assets			$	3,232,400					$	4,863,748					$	664,321					$	374,576					$	9,135,045
Total liabilities			2,443,186						4,314,126						512,685						602,303						7,872,300
Net assets			$	789,214					$	549,622					$	151,636					$	(227,727)					$	1,262,745

			March 31, 2024
			Brokerage						Banking						Insurance						Other						Total
Total assets			$	2,586,803					$	4,939,626					$	529,517					$	245,984					$	8,301,930
Total liabilities			1,973,887						4,389,745						402,865						368,475						7,134,972
Net assets			$	612,916					$	549,881					$	126,652					$	(122,491)					$	1,166,958

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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