December 26, 2012

Nicholas Financial Announces Bank Credit Line Extension

Clearwater, Florida, - December 26, 2012: Nicholas Financial, Inc. (Nasdaq, NICK) announced that the Company has executed an amendment to its Bank Credit Line that extends the maturity date to November 30, 2014. All other terms and conditions of the Company’s Credit Line remain in effect.

According to Peter L. Vosotas, Chairman and CEO, “We are pleased that our consortium of bank lenders has agreed to extend the maturity date of our Credit Line. The Credit Line will allow us to continue our careful expansion strategy during the next two years. Additionally, we are very pleased to announce our 64th branch located in a suburb of Detroit, Michigan.”

Founded in 1985, with assets of approximately $265,000,000 as of September 30, 2012, Nicholas Financial, Inc. is one of the largest publicly traded specialty consumer finance companies based in the Southeast. The Company presently operates out of 64 branch locations in both the Southeast and the Mid-West States. The Company has approximately 12,100,000 shares of common stock outstanding. For an index of Nicholas Financial Inc.’s news releases or to obtain a specific release, visit our web site at www.nicholasfinancial.com

 


Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties including competitive factors, the management of growth, and other risks detailed from time to time in the Company’s filings and reports with the Securities and Exchange Commission including the Company’s Annual Report on Form 10-K for the year ended March 31, 2012. Such statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially.