XML 22 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flow from operating activities:    
Net income $ 23,632,051 $ 22,555,335
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 140,289 201,758
Amortization of loan costs and discounts 219,582 97,689
Provision for loan losses 26,228,009 30,893,266
Depreciation 1,651,280 1,623,242
Deferred income tax benefit (294,549) (931,699)
Compensation related to stock option and restricted stock plans (3,696,045) 3,565,393
Gain (Loss) on Sales of Consumer Loans 1,795,432 0
Change in accounts:    
Other assets, net (147,324) (493,041)
Income taxes payable 582,763 10,489,634
Accounts payable and accrued expenses (2,850,047) (1,210,718)
Net cash provided by operating activities 43,670,577 66,790,859
Cash flows from investing activities:    
Increase in loans receivable, net (49,818,408) (60,412,755)
Proceeds from Sale of Loans Receivable 1,952,125 0
Net assets acquired from office acquisitions, primarily loans 0 (337,427)
Increase in intangible assets from acquisitions 0 (62,868)
Purchases of property and equipment (1,622,083) (2,586,806)
Proceeds from Sale of Property, Plant, and Equipment 69,109 187,018
Net cash used in investing activities (49,419,257) (63,212,838)
Cash flow from financing activities:    
Borrowings from senior note payable 72,200,000 92,300,000
Payments on senior note payable (84,400,000) (49,700,000)
Proceeds from exercise of stock options 2,339,313 77,374
Payments of Loan Costs 5,500,000 0
Repurchase of common stock 0 (49,902,371)
Excess tax benefits from exercise of stock options 236,159 51,869
Net cash provided by financing activities (15,124,528) (7,173,128)
Increase in cash and cash equivalents (21,128,165) (3,524,932)
Effects of foreign currency fluctuations on cash (254,957) 70,175
Cash and cash equivalents at beginning of period 38,338,935 19,569,683
Cash and cash equivalents at end of period 17,210,770 16,044,751
Interest Paid 5,164,502 5,512,754
Income Taxes Paid $ 13,803,056 $ 4,676,474