Nicholas Financial, Inc. (NASDAQ: NICK) announced a net income for
the three months ended March 31, 2022 of $0.4 million compared to
net income of $1.9 million for the three months ended March 31,
2021. Diluted net income per share was $0.05 for the three months
ended March 31, 2022 as compared to diluted net income per share of
$0.24 for the three months ended March 31, 2021. Interest and fee
income on finance receivables decreased 4.0% to $12.3 million for
the three months ended March 31, 2022 as compared to $12.8 million
for the three months ended March 31, 2021. The Company reported
income before income taxes for the three months ended March 31,
2022 of $0.5 million compared to income before income taxes of $2.8
million for the three months ended March 31, 2021. The Company
recorded an income tax expense of approximately $0.1 million during
the three months ended March 31, 2022 as compared to income tax
expense of $0.9 million during the three months ended March 31,
2021.
The Company announced net income for the year
ended March 31, 2022 of $3.0 million compared to $8.4 million for
the year ended March 31, 2021. Diluted net income per share was
$0.39 for the year ended March 31, 2022 as compared to $1.09 for
the year ended March 31, 2021. Interest and fee income on finance
receivables decreased 8.3% to $49.7 million for the year ended
March 31, 2022 as compared to $54.2 million for the year ended
March 31, 2021. The Company reported income before income taxes for
the year ended March 31, 2022 of $4.0 million compared to income
before income taxes of $10.9 million for the year ended March 31,
2021. The Company recorded an income tax expense of approximately
$1.0 million during the year ended March 31, 2022 as compared to
income tax expense of $2.6 million during the year ended March 31,
2021.
For the year ended March 31, 2022, the Company
originated $114.5 million in finance receivables, collected $119.6
million in principal payments, reduced debt by $33.3 million and
cash by $28.2 million.
“Despite the competitive lending environment, we
are very pleased with our 4th Quarter originations. Thanks to the
efforts of our great employees, we were able to purchase and
originate $34.6 million in combined receivable volume -
outperforming combined originations by $6.7 million year over
year,” commented Mike Rost, interim CEO of Nicholas Financial. “Our
direct loan originations more than doubled year over year and our
portfolio losses continue trending at historically low levels. This
is yet another testament to our tenured underwriting managers, who
adequately price for risk and use a time-tested lending model
across our branch network,” Rost continued.
“Our training agenda continued into the fourth
quarter, with new hire onboarding as well as more in-depth training
for our seasoned Branch Managers and Assistant Branch Managers. We
also continued our expansion efforts, utilizing our Virtual Service
Center to increase our indirect originations. During the quarter,
we increased our finance receivables, net by $2.9 million. This is
something we haven’t done in a long time and are very proud of,”
concluded Rost.
Key
Performance Indicators on Contracts Purchased |
|
(Purchases in thousands) |
|
|
|
|
Number of |
|
|
|
|
|
Average |
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal
Year |
|
|
Contracts |
|
|
Principal Amount |
|
|
Amount |
|
|
Average |
|
|
|
Average |
|
|
|
Average |
|
/Quarter |
|
|
Purchased |
|
|
Purchased# |
|
|
Financed*^ |
|
|
APR* |
|
|
|
Discount%* |
|
|
|
Term* |
|
|
2022 |
|
|
|
7,793 |
|
|
$ |
85,804 |
|
|
$ |
11,002 |
|
|
|
23.1 |
|
% |
|
|
6.9 |
|
% |
|
|
47 |
|
|
4 |
|
|
|
2,404 |
|
|
|
27,139 |
|
|
|
11,289 |
|
|
|
22.9 |
|
% |
|
|
6.9 |
|
% |
|
|
47 |
|
|
3 |
|
|
|
1,735 |
|
|
|
19,480 |
|
|
|
11,228 |
|
|
|
23.1 |
|
% |
|
|
6.8 |
|
% |
|
|
47 |
|
|
2 |
|
|
|
1,707 |
|
|
|
18,880 |
|
|
|
11,061 |
|
|
|
23.0 |
|
% |
|
|
6.7 |
|
% |
|
|
47 |
|
|
1 |
|
|
|
1,947 |
|
|
|
20,305 |
|
|
|
10,429 |
|
|
|
23.2 |
|
% |
|
|
7.0 |
|
% |
|
|
46 |
|
|
2021 |
|
|
|
7,307 |
|
|
$ |
74,025 |
|
|
$ |
10,135 |
|
|
|
23.4 |
|
% |
|
|
7.5 |
|
% |
|
|
46 |
|
|
4 |
|
|
|
2,429 |
|
|
|
24,637 |
|
|
|
10,143 |
|
|
|
23.2 |
|
% |
|
7.5 |
|
% |
|
|
46 |
|
|
3 |
|
|
|
1,483 |
|
|
|
15,285 |
|
|
|
10,307 |
|
|
|
23.4 |
|
% |
|
|
7.5 |
|
% |
|
|
46 |
|
|
2 |
|
|
|
1,709 |
|
|
|
17,307 |
|
|
|
10,127 |
|
|
|
23.5 |
|
% |
|
|
6.8 |
|
% |
|
|
46 |
|
|
1 |
|
|
|
1,686 |
|
|
|
16,796 |
|
|
|
9,962 |
|
|
|
23.5 |
|
% |
|
|
8.0 |
|
% |
|
|
46 |
|
|
2020 |
|
|
|
7,647 |
|
|
$ |
76,696 |
|
|
$ |
10,035 |
|
|
|
23.4 |
|
% |
|
|
7.9 |
|
% |
|
|
47 |
|
|
4 |
|
|
|
1,991 |
|
|
|
19,658 |
|
|
|
9,873 |
|
|
|
23.5 |
|
% |
|
|
7.9 |
|
% |
|
|
46 |
|
|
3 |
|
|
|
1,753 |
|
|
|
17,880 |
|
|
|
10,200 |
|
|
|
23.3 |
|
% |
|
|
7.6 |
|
% |
|
|
47 |
|
|
2 |
|
|
|
2,011 |
|
|
|
20,104 |
|
|
|
9,997 |
|
|
|
23.5 |
|
% |
|
|
7.9 |
|
% |
|
|
46 |
|
|
1 |
|
|
|
1,892 |
|
|
|
19,054 |
|
|
|
10,071 |
|
|
|
23.4 |
|
% |
|
|
8.3 |
|
% |
|
|
47 |
|
Key Performance Indicators on Direct Loans
Originated (Originations in
thousands) |
|
|
|
|
Number of |
|
|
Principal |
|
|
|
|
|
|
|
|
|
|
|
Fiscal
Year |
|
|
Loans |
|
|
Amount |
|
|
Average
Amount |
|
|
Average |
|
|
|
Average |
|
/Quarter |
|
|
Originated |
|
|
Originated |
|
|
Financed*^ |
|
|
APR* |
|
|
|
Term* |
|
|
2022 |
|
|
|
6,770 |
|
|
$ |
28,740 |
|
|
$ |
4,307 |
|
|
|
30.5 |
|
% |
|
|
26 |
|
|
4 |
|
|
|
1,584 |
|
|
|
7,458 |
|
|
|
4,708 |
|
|
|
30.0 |
|
% |
|
|
27 |
|
|
3 |
|
|
|
2,282 |
|
|
|
8,505 |
|
|
|
3,727 |
|
|
31.8 |
|
% |
|
|
24 |
|
|
2 |
|
|
|
1,588 |
|
|
|
7,040 |
|
|
|
4,433 |
|
|
|
30.0 |
|
% |
|
|
26 |
|
|
1 |
|
|
|
1,316 |
|
|
|
5,737 |
|
|
|
4,359 |
|
|
30.1 |
|
% |
|
|
25 |
|
|
2021 |
|
|
|
3,497 |
|
|
$ |
14,148 |
|
|
$ |
4,131 |
|
|
|
29.6 |
|
% |
|
|
25 |
|
|
4 |
|
|
|
753 |
|
|
|
3,284 |
|
|
|
4,362 |
|
|
29.6 |
|
% |
|
|
25 |
|
|
3 |
|
|
|
1,265 |
|
|
|
4,605 |
|
|
|
3,641 |
|
|
30.9 |
|
% |
|
|
22 |
|
|
2 |
|
|
|
924 |
|
|
|
3,832 |
|
|
|
4,147 |
|
|
29.2 |
|
% |
|
|
25 |
|
|
1 |
|
|
|
555 |
|
|
|
2,427 |
|
|
|
4,373 |
|
|
28.7 |
|
% |
|
|
26 |
|
|
2020 |
|
|
|
3,142 |
|
|
$ |
12,638 |
|
|
$ |
4,017 |
|
|
|
28.2 |
|
% |
|
|
25 |
|
|
4 |
|
|
|
720 |
|
|
|
3,104 |
|
|
|
4,310 |
|
|
28.6 |
|
% |
|
|
25 |
|
|
3 |
|
|
|
1,137 |
|
|
|
4,490 |
|
|
|
3,949 |
|
|
28.4 |
|
% |
|
|
24 |
|
|
2 |
|
|
|
739 |
|
|
|
2,988 |
|
|
|
4,043 |
|
|
27.4 |
|
% |
|
|
25 |
|
|
1 |
|
|
|
546 |
|
|
|
2,056 |
|
|
|
3,765 |
|
|
28.2 |
|
% |
|
|
24 |
|
*Each average included in the tables is
calculated as a simple average. ^Average amount
financed is calculated as a single loan amount.
#Bulk portfolio purchase excluded for period-over-period
comparability
Nicholas Financial, Inc. (NASDAQ:NICK) is a
specialized consumer finance company, operating branch locations in
both Southeastern and Midwestern U.S. States. The Company engages
primarily in acquiring and servicing automobile finance installment
contracts (“Contracts”) for purchases of used and new automobiles
and light trucks. Additionally, Nicholas Financial originates
direct consumer loans (“Direct Loans”) and sells consumer-finance
related products. For an index of Nicholas Financial, Inc.’s new
releases or to obtain a specific release, please visit our website
at www.nicholasfinancial.com.
Cautionary Note regarding Forward-Looking
Statements
This press release may contain various
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, that represent the
Company’s current expectations or beliefs concerning future events.
Statements other than those of historical fact, as well as those
identified by words such as “anticipate,” “estimate,” intend,”
“plan,” “expect,” “project,” “believe,” “may,” “will,” “should,”
“would,” “could,” “probable” and any variation of the foregoing and
similar expressions are forward-looking statements. Such
forward-looking statements are inherently subject to risks and
uncertainties. The Company’s actual results and financial condition
may differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these
forward-looking statements. Important factors that could cause
actual results or performance to differ from the expectations
expressed or implied in such forward-looking statements include the
following: the ongoing impact of the COVID-19 pandemic and the
mitigation efforts by governments and related effects on our
financial condition, business operations and liquidity, our
customers, our employees, and the overall economy; recently
enacted, proposed or future legislation and the manner in which it
is implemented; changes in the U.S. tax code; the nature and scope
of regulatory authority, particularly discretionary authority, that
may be exercised by regulators, including, but not limited to, the
Securities and Exchange Commission (SEC), Department of Justice,
U.S. Consumer Financial Protection Bureau, and individual state
regulators having jurisdiction over the Company; the unpredictable
nature of regulatory proceedings and litigation; employee
misconduct or misconduct by third parties; uncertainties associated
with management turnover and the effective succession of senior
management; media and public characterization of consumer
installment loans; labor unrest; the impact of changes in
accounting rules and regulations, or their interpretation or
application, which could materially and adversely affect the
Company’s reported consolidated financial statements or necessitate
material delays or changes in the issuance of the Company’s audited
consolidated financial statements; the Company’s assessment of its
internal control over financial reporting; changes in interest
rates; risks relating to the acquisition or sale of assets or
businesses or other strategic initiatives, including increased loan
delinquencies or net charge-offs, the loss of key personnel,
integration or migration issues, the failure to achieve anticipated
synergies, increased costs of servicing, incomplete records, and
retention of customers; risks inherent in making loans, including
repayment risks and value of collateral; cybersecurity threats,
including the potential misappropriation of assets or sensitive
information, corruption of data or operational disruption; our
dependence on debt and the potential impact of limitations in the
Company’s amended revolving credit facility or other impacts on the
Company’s ability to borrow money on favorable terms, or at all;
the timing and amount of revenues that may be recognized by the
Company; changes in current revenue and expense trends (including
trends affecting delinquency and charge-offs); the impact of
extreme weather events and natural disasters; changes in the
Company’s markets and general changes in the economy (particularly
in the markets served by the Company). All forward-looking
statements and cautionary statements included in this document are
made as of the date hereof based on information available to the
Company as of the date hereof, and the Company assumes no
obligation to update any forward-looking statement or cautionary
statement.
Nicholas Financial, Inc.
Condensed Consolidated Statements of Income
(Unaudited, Dollars in Thousands, Except Share and Per Share
Amounts)
|
Three months ended |
|
|
Twelve
months ended |
|
|
March 31, |
|
|
March 31, |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
Interest and fee income on finance receivables |
|
$ |
12,308 |
|
|
$ |
12,816 |
|
|
$ |
49,714 |
|
|
$ |
54,211 |
Gain on equity investments |
|
|
- |
|
|
|
470 |
|
|
|
- |
|
|
|
1,809 |
Total Revenue |
|
$ |
12,308 |
|
|
$ |
13,286 |
|
|
$ |
49,714 |
|
|
$ |
56,020 |
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
Operating expenses |
|
|
9,275 |
|
|
|
8,963 |
|
|
|
34,402 |
|
|
|
31,844 |
Provision for credit losses |
|
|
2,100 |
|
|
|
250 |
|
|
|
5,900 |
|
|
|
7,250 |
Interest expense |
|
|
443 |
|
|
|
1,320 |
|
|
|
5,366 |
|
|
|
5,980 |
Total expenses |
|
|
11,818 |
|
|
|
10,533 |
|
|
|
45,668 |
|
|
|
45,074 |
Income
before income taxes |
|
|
490 |
|
|
|
2,753 |
|
|
|
4,046 |
|
|
|
10,946 |
Income tax expense |
|
|
122 |
|
|
|
884 |
|
|
|
1,048 |
|
|
|
2,595 |
Net Income |
|
$ |
368 |
|
|
$ |
1,869 |
|
|
$ |
2,998 |
|
|
$ |
8,351 |
Earnings per
share: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.05 |
|
|
$ |
0.24 |
|
|
$ |
0.39 |
|
|
$ |
1.09 |
Diluted |
|
$ |
0.05 |
|
|
$ |
0.24 |
|
|
$ |
0.39 |
|
|
$ |
1.09 |
Condensed Consolidated Balance
Sheets (Unaudited, In Thousands)
|
|
March
31, |
|
|
March 31, |
|
|
2022 |
|
|
2021 |
Cash and restricted cash |
|
$ |
4,775 |
|
|
$ |
32,977 |
Finance
receivables, net |
|
|
168,600 |
|
|
|
170,318 |
Repossessed
assets |
|
|
658 |
|
|
|
685 |
Operating
lease right-of-use assets |
|
|
4,277 |
|
|
|
3,392 |
Other
assets |
|
|
5,260 |
|
|
|
5,066 |
Total assets |
|
$ |
183,570 |
|
|
$ |
212,438 |
Credit
facility, net of debt issuance costs |
|
$ |
54,813 |
|
|
$ |
86,154 |
Note
payable |
|
|
3,244 |
|
|
|
3,244 |
Operating
lease liabilities |
|
|
4,410 |
|
|
|
3,367 |
Other
liabilities |
|
|
4,717 |
|
|
|
4,451 |
Total liabilities |
|
|
67,184 |
|
|
|
97,216 |
Shareholders’ equity |
|
|
116,386 |
|
|
|
115,222 |
Total
liabilities and shareholders’ equity |
|
$ |
183,570 |
|
|
$ |
212,438 |
Book value
per share |
|
$ |
15.42 |
|
|
$ |
14.95 |
|
|
Three months ended |
|
|
Twelve
months ended |
|
|
|
|
March
31, |
|
|
March
31, |
|
|
|
|
(In thousands) |
|
|
(In thousands) |
|
|
Portfolio Summary |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
Average finance receivables (1) |
|
$ |
176,439 |
|
|
$ |
185,750 |
|
|
$ |
178,686 |
|
|
$ |
199,102 |
|
|
Average indebtedness (2) |
|
$ |
54,490 |
|
|
$ |
92,761 |
|
|
$ |
67,684 |
|
|
$ |
107,615 |
|
|
Interest and fee income on finance receivables |
|
$ |
12,308 |
|
|
$ |
12,816 |
|
|
$ |
49,714 |
|
|
$ |
54,211 |
|
|
Interest expense |
|
|
443 |
|
|
|
1,320 |
|
|
|
5,366 |
|
|
$ |
5,980 |
|
|
Net interest and fee income on finance receivables |
|
$ |
11,865 |
|
|
$ |
11,496 |
|
|
$ |
44,348 |
|
|
$ |
48,231 |
|
|
Portfolio yield (3) |
|
|
27.90 |
|
% |
|
27.60 |
|
% |
|
27.82 |
|
% |
|
27.23 |
|
% |
Interest expense as a percentage of average finance
receivables |
|
|
1.00 |
|
% |
|
2.84 |
|
% |
|
3.00 |
|
% |
|
3.00 |
|
% |
Provision for credit losses as a percentage of average finance
receivables |
|
|
4.76 |
|
% |
|
0.54 |
|
% |
|
3.30 |
|
% |
|
3.64 |
|
% |
Net portfolio yield (3) |
|
|
22.14 |
|
% |
|
24.22 |
|
% |
|
21.52 |
|
% |
|
20.59 |
|
% |
Operating expenses as a percentage of average finance
receivables |
|
|
21.03 |
|
% |
|
19.30 |
|
% |
|
19.25 |
|
% |
|
15.99 |
|
% |
Pre-tax yield as a percentage of average finance receivables
(4) |
|
|
1.11 |
|
% |
|
4.92 |
|
% |
|
2.27 |
|
% |
|
4.60 |
|
% |
Net charge-off percentage (5) |
|
|
6.45 |
|
% |
|
6.83 |
|
% |
|
5.13 |
|
% |
|
6.16 |
|
% |
Finance receivables |
|
|
|
|
|
|
|
$ |
178,786 |
|
|
$ |
184,237 |
|
|
Allowance percentage (6) |
|
|
|
|
|
|
|
|
1.61 |
|
% |
|
3.34 |
|
|
Total reserves percentage (7) |
|
|
|
|
|
|
|
|
5.66 |
|
% |
|
7.49 |
|
% |
Note: All three-month statement
of income performance indicators expressed as percentages have been
annualized.
(1) Average finance receivables
represent the average of finance receivables throughout the period.
(2) Average indebtedness represents the average daily
outstanding borrowings under the Credit Facility. Average
indebtedness does not include the PPP loan. (3)
Portfolio yield represents interest and fee income on finance
receivables as a percentage of average finance receivables. Net
portfolio yield represents (a) interest and fee income on
finance receivables minus (b) interest expense minus
(c) the provision for credit losses, as a percentage of
average finance receivables. (4) Pre-tax yield
represents net portfolio yield minus operating expenses, as a
percentage of average finance receivables. (5)
Net charge-off percentage represents net
charge-offs (charge-offs less recoveries) divided by average
finance receivables, outstanding during the period. (6)
Allowance percentage represents the allowance for credit
losses divided by finance receivables outstanding as of ending
balance sheet date. (7) Total reserves percentage
represents the allowance for credit losses, purchase price
discount, and unearned dealer discounts divided by finance
receivables outstanding as of ending balance sheet date.
The following tables present certain
information regarding the delinquency rates experienced by the
Company with respect to automobile finance installment contracts
(“Contracts”) and direct consumer loans (“Direct Loans”), excluding
any Chapter 13 bankruptcy accounts:
(In thousands, except percentages)
Contracts |
|
Balance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
|
30 – 59 days |
|
|
60 – 89 days |
|
|
90 – 119 days |
|
|
120+ |
|
|
Total |
|
|
March 31, 2022 |
|
$ |
154,144 |
|
|
$ |
7,097 |
|
|
$ |
2,936 |
|
|
$ |
1,183 |
|
|
$ |
49 |
|
|
$ |
11,265 |
|
|
|
|
|
|
|
|
4.60 |
|
% |
|
1.90 |
|
% |
|
0.77 |
|
% |
|
0.03 |
|
% |
|
7.31 |
|
% |
March 31,
2021 |
|
$ |
170,195 |
|
|
$ |
6,289 |
|
|
$ |
2,430 |
|
|
$ |
896 |
|
|
$ |
42 |
|
|
$ |
9,657 |
|
|
|
|
|
|
|
|
3.70 |
|
% |
|
1.43 |
|
% |
|
0.53 |
|
% |
|
0.02 |
|
% |
|
5.67 |
|
% |
|
|
|
|
|
|
|
Direct Loans |
|
Balance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
|
30 – 59 days |
|
|
60 – 89 days |
|
|
90 – 119 days |
|
|
120+ |
|
|
Total |
|
|
March 31,
2022 |
|
$ |
24,376 |
|
|
$ |
608 |
|
|
$ |
197 |
|
|
$ |
77 |
|
|
$ |
0 |
|
|
$ |
882 |
|
|
|
|
|
|
|
|
2.49 |
|
% |
|
0.81 |
|
% |
|
0.32 |
|
% |
|
0.00 |
|
% |
|
3.62 |
|
% |
March 31,
2021 |
|
$ |
13,909 |
|
|
$ |
253 |
|
|
$ |
101 |
|
|
$ |
81 |
|
|
$ |
10 |
|
|
$ |
445 |
|
|
|
|
|
|
|
|
1.82 |
|
% |
|
0.73 |
|
% |
|
0.58 |
|
% |
|
0.07 |
|
% |
|
3.20 |
|
% |
The following table presents selected
information on Contracts purchased and Direct Loans originated by
the Company:
|
|
Contracts |
|
|
Direct Loans |
|
|
|
|
Three months ended |
|
|
Three months ended |
|
|
|
|
March
31, |
|
|
March
31, |
|
|
|
|
(Purchases in thousands) |
|
|
(Originations in thousands) |
|
|
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
Purchases/Originations |
|
$ |
27,139 |
|
|
$ |
24,637 |
|
|
$ |
7,458 |
|
|
$ |
3,284 |
|
|
Average
APR |
|
|
22.9 |
|
% |
|
23.2 |
|
% |
30 |
|
% |
29.6 |
|
% |
Average
discount |
|
|
6.9 |
|
% |
|
7.5 |
|
% |
N/A |
|
|
N/A |
|
|
Average term
(months) |
|
|
47 |
|
|
|
46 |
|
|
|
27 |
|
|
|
25 |
|
|
Average
amount financed |
|
$ |
11,289 |
|
|
$ |
10,143 |
|
|
$ |
4,708 |
|
|
$ |
4,362 |
|
|
Number of
contracts |
|
|
2,404 |
|
|
|
2,429 |
|
|
|
1,584 |
|
|
|
753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
|
Direct Loans |
|
|
|
|
Twelve months ended |
|
|
Twelve
months ended |
|
|
|
|
March
31, |
|
|
March
31, |
|
|
|
|
(Purchases in thousands) |
|
|
(Originations in thousands) |
|
|
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
Purchases/Originations |
|
$ |
85,804 |
|
|
$ |
74,025 |
|
|
$ |
28,740 |
|
|
$ |
14,148 |
|
|
Average
APR |
|
|
23.1 |
|
% |
|
23.4 |
|
% |
|
30.5 |
|
% |
|
29.6 |
|
% |
Average
discount |
|
|
6.9 |
|
% |
|
7.5 |
|
% |
N/A |
|
|
N/A |
|
|
Average term
(months) |
|
|
47 |
|
|
|
46 |
|
|
|
26 |
|
|
|
25 |
|
|
Average
amount financed |
|
$ |
11,002 |
|
|
$ |
10,135 |
|
|
$ |
4,307 |
|
|
$ |
4,131 |
|
|
Number of
contracts |
|
|
7,793 |
|
|
|
7,307 |
|
|
|
6,770 |
|
|
|
3,497 |
|
|
The following table presents selected
information on the entire Contract and Direct Loan portfolios of
the Company:
|
|
Contracts |
|
|
Direct Loans |
|
|
|
|
As of |
|
|
As
of |
|
|
|
|
March 31, |
|
|
March 31, |
|
|
Portfolio |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
Average APR |
|
|
22.9 |
|
% |
|
22.8 |
|
% |
|
29.8 |
|
% |
|
28.5 |
|
% |
Average discount |
|
|
7.4 |
|
% |
|
7.6 |
|
% |
N/A |
|
|
N/A |
|
|
Average term (months) |
|
|
50 |
|
|
51 |
|
|
27 |
|
|
26 |
|
|
Number of active contracts |
|
|
19,559 |
|
|
|
22,760 |
|
|
|
6,444 |
|
|
|
4,017 |
|
|
Contact: Irina Nashtatik
CFO
Ph # (727)-726-0763
Nicholas Financial Inc Bc (NASDAQ:NICK)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Nicholas Financial Inc Bc (NASDAQ:NICK)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024