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Nicholas Financial is committed to serving the needs of franchised and independent automobile dealers. Nicholas allows the dealer to increase sales and maximize profits.

Nicholas Financial is seeking energetic, well educated individuals that wish to start a career in consumer finance. Nicholas offers a full benefit package and is an equal opportunity employer.

From the Board of Directors of Nicholas Financial - May 2022

Nicholas Financial 2023 Annual Report

about  Nicholas Financial

Nicholas Financial, Inc., established in 1985, is a consumer finance company, that specializes in purchasing and servicing auto loans made by franchised and independent auto dealers.

The company’s stock has been publicly traded since 1987. It is listed on the NASDAQ - GS Global Select Market System under the symbol, NICK.

more Nicholas news

Nicholas Financial Reports 4th Quarter Fiscal Year 2023 Results

June 21, 2023 – Clearwater, Florida - Nicholas Financial, Inc. (NASDAQ: NICK) announced a net loss for the three months ended March 31, 2023 of $15.8 million compared to net income of $0.4 million for the three months ended March 31, 2022. Basic and diluted net loss per share was $2.18 for the three months ended March 31, 2023 as compared to basic and diluted net earnings per share of $0.05 for the three months ended March 31, 2022.

Interest and fee income on finance receivables decreased 29.4% to $8.7 million for the three months ended March 31, 2023 as compared to $12.3 million for the three months ended March 31, 2022.

Operating expenses decreased 35.8% to $6.0 million for the three months ended March 31, 2023 compared to $9.3 million for the three months ended March 31, 2022. The decrease in operating expenses was primarily attributable to the change in operating strategy and restructuring plan the Company previously announced, which included outsourcing its servicing operation. Specifically, the Company reduced its payroll and employee related expenses by 85.3% to $0.8 million from $5.6 million for the three months ended March 31, 2023, and 2022, respectively. Similarly, branch related expenses, loan origination costs, and other administrative expenses, exclusive of servicing and restructuring expenses, reduced by 57.5% to $1.3 million from $3.0 million for the three months ended March 31, 2023, and 2022, respectively.

"The net losses for the fiscal quarter and the twelve months ended March 31, 2023, were driven by a significant rise in delinquencies and charge offs, which substantially increased our provision for credit losses. The Company also continued to incur expenses related to our restructuring plan. The downturn in the economy coupled with our restructuring initiatives led to a setback on our collection efforts that we believe is temporary and caused a rise in delinquencies and credit losses. We are working closely with our customers to help them adapt to our new servicing practice," commented Mike Rost, CEO of the Company.

"The transition of the Company’s servicing process is a crucial piece to our restructured business model and operating strategy. This has allowed us to reduce expenses and maintain the quality of our service. The focus on maximizing shareholder equity and the shift to outsourcing our servicing is a major step in that direction. We continue to originate new business on a much smaller scale with the emphasis on quality indirect loans with the goal of returning the Company to profitability," Rost concluded.

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HEADQUARTERS

Nicholas Financial, Inc.
26133 US Highway 19 N
Suite 300
Clearwater, FL 33763

Phone: 727-726-0763
Fax: 727-726-0731
Email: customerservice@nicfn.com

A Special Thanks to our Corporate Partners
Partners NADA & GWC