XML 99 R16.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Income Taxes | 12 Months Ended
--- | ---
Mar. 31, 2013
Income Tax Disclosure [Abstract] |
Income Taxes | 8. Income Taxes The provision for income taxes consists of the following for the years ended March 31:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 10,187,010 |  |  | $ | 11,799,843 |  |  | $ | 10,275,756 |
State |  |  | 1,661,860 |  |  |  | 1,881,400 |  |  |  | 1,683,652 |
Total current |  |  | 11,848,870 |  |  |  | 13,681,243 |  |  |  | 11,959,408 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 598,674 |  |  |  | 211,544 |  |  |  | (1,237,850 | )
State |  |  | 97,665 |  |  |  | 33,729 |  |  |  | (202,818 | )
Total deferred |  |  | 696,339 |  |  |  | 245,273 |  |  |  | (1,440,668 | )
Income tax expense |  | $ | 12,545,209 |  |  | $ | 13,926,516 |  |  | $ | 10,518,740 |
The net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes are reflected in deferred income taxes. Significant components of the Company’s deferred tax assets consist of the following as of March 31:
|  | 2013 |  |  | 2012 |
Allowance for credit losses not currently deductible for tax purposes |  | $ | 7,448,933 |  |  | $ | 8,456,988 |
Share-based compensation |  |  | 522,573 |  |  |  | 436,131 |
Interest rate swaps |  |  | 193,258 |  |  |  | — |
Other items |  |  | 262,197 |  |  |  | 230,181 |
Deferred income taxes |  | $ | 8,426,961 |  |  | $ | 9,123,300 |
The provision for income taxes reflects an effective U.S tax rate, which differs from the corporate tax rate for the following reasons:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Provision for income taxes at Federal statutory rate |  | $ | 11,370,154 |  |  | $ | 12,651,896 |  |  | $ | 9,550,462 |
Increase resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of Federal benefit |  |  | 1,143,692 |  |  |  | 1,244,834 |  |  |  | 966,543 |
Other |  |  | 31,363 |  |  |  | 29,786 |  |  |  | 1,735 |
Income tax expense |  | $ | 12,545,209 |  |  | $ | 13,926,516 |  |  | $ | 10,518,740

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration