v3.26.1
Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense (benefit) Income tax expense (benefit) for the years indicated below consists of:
 CurrentDeferredTotal
Year ended March 31, 2026   
Federal$16,171,106 $(6,527,720)$9,643,386 
State and local1,574,975 (561,870)1,013,105 
 $17,746,081 $(7,089,590)$10,656,491 
Year ended March 31, 2025   
Federal$21,453,743 $(2,861,984)$18,591,759 
State and local3,138,466 342,001 3,480,467 
 $24,592,209 $(2,519,983)$22,072,226 
Year ended March 31, 2024   
Federal$9,592,743 $8,246,248 $17,838,991 
State and local1,732,162 2,387,285 4,119,447 
 $11,324,905 $10,633,533 $21,958,438 
Schedule of Income Tax Expense Reconciliation To U.s Federal Income Tax Rate To Pretax Income
The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% and the reported income tax expense for the years ended March 31, 2026, 2025 and 2024 are summarized as follows:

 202620252024
US federal statutory tax rate$9,500,928 21.0 %$23,376,151 21.0 %$20,791,004 21.0 %
State and local income taxes, net of federal tax effect800,353 1.8 %2,748,295 2.5 %3,254,363 3.3 %
Tax credits
Historic tax credits(961,138)(2.1)%(871,938)(0.8)%(427,512)(0.4)%
Energy-related tax credits(612,353)(1.4)%(887,089)(0.8)%(451,800)(0.5)%
Other(44,785)(0.1)%(163,685)(0.1)%(154,779)(0.2)%
Nontaxable or nondeductible items
Forfeiture of the $20.45 Performance Shares and the $16.35 Performance Shares
— — %(2,587,552)(2.3)%— — %
Permanent effect of the bargain purchase of loans— — %— — %(1,090,068)(1.1)%
Excess tax benefits related to equity awards(578,321)(1.3)%(182,098)(0.2)%(347,806)(0.4)%
Other764,062 1.7 %676,757 0.6 %413,831 0.4 %
Changes in unrecognized tax benefits1,619,698 3.6 %17,537 — %16,406 — %
Other adjustments168,047 0.4 %(54,152)— %(45,201)— %
Effective tax rate$10,656,491 23.6 %$22,072,226 19.8 %$21,958,438 22.2 %
Schedule of Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Deferred Tax Liabilities
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31, 2026 and 2025 are presented below:
 20262025
Deferred tax assets:  
Allowance for credit losses$28,043,502 $25,693,205 
Unearned insurance commissions9,144,092 9,407,895 
Accrued expenses primarily related to employee benefits6,555,260 6,181,990 
Reserve for uncollectible interest1,021,502 993,241 
Lease liability18,153,116 19,359,479 
Intangible assets2,107,831 1,965,939 
Deferred revenue1,007,892 860,594 
Tax credit carryforward11,483,737 5,639,649 
Capital loss carryforward38,142 192,767 
State net operating loss carryforwards6,545,857 6,005,260 
Gross deferred tax assets84,100,931 76,300,019 
Less valuation allowance(9,086,610)(8,695,894)
Net deferred tax assets75,014,321 67,604,125 
Deferred tax liabilities:  
Fair value adjustment for loans receivable$(9,840,020)$(7,713,732)
Property and equipment(2,909,283)(3,510,245)
Deferred loan origination costs(1,452,377)(1,366,926)
Prepaid expenses(1,557,466)(1,529,317)
ROU assets(17,546,267)(18,750,736)
Other(467,650)(581,501)
Gross deferred tax liabilities(33,773,063)(33,452,457)
Deferred income taxes, net$41,241,258 $34,151,668 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits at March 31, 2026, 2025, and 2024 are presented below:
202620252024
Unrecognized tax benefit balance beginning of year$740,616 $748,289 $818,225 
Gross increases for tax positions of current year107,233 73,696 105,531 
Gross increases for tax positions of prior years1,003,507 — — 
Settlements with tax authorities(1,339,847)— — 
Lapse of statute of limitations(112,121)(81,369)(175,467)
Unrecognized tax benefit balance end of year$399,388 $740,616 $748,289 
Schedule of Income Tax Paid (Net of Refunds)
Income taxes paid (net of refunds) consisted of the following jurisdictions for the years ended March 31, 2026, 2025 and 2024 are presented below:

202620252024
Federal$12,960,932 $13,839,346 $12,453,502 
State and local1,805,494 1,428,672 1,161,822 
Total$14,766,426 $15,268,018 $13,615,324