Old Market Capital (OMCC) 10-K 14 Jun 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2016	Jun. 06, 2016	Sep. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	NICHOLAS FINANCIAL INC
Entity Central Index Key	1,000,045
Trading Symbol	nick
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Common Stock Shares Outstanding		12.5
Entity Public Float			$ 95.8
Document Type	10-K
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Assets
Cash	$ 1,849	$ 3,388
Finance receivables, net	311,837	288,904
Assets held for resale	2,148	1,747
Prepaid expenses and other assets	977	1,144
Income taxes receivable	593	113
Property and equipment, net	1,290	872
Deferred income taxes	6,615	6,361
Total assets	325,309	302,529
Liabilities and shareholders' equity
Line of credit	211,000	199,000
Drafts payable	1,499	2,476
Accounts payable and accrued expenses	5,839	7,841
Deferred revenues	3,917	3,143
Interest rate swap agreements	205	181
Total liabilities	$ 222,460	$ 212,641
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par: 5,000 shares authorized; none issued
Common stock, no par: 50,000 shares authorized; 12,466 and 12,416 shares issued respectively; 7,753 and 7,702 shares outstanding, respectively	$ 33,287	$ 32,655
Treasury stock: 4,714 common shares, at cost	(70,459)	(70,409)
Retained earnings	140,021	127,642
Total shareholders' equity	102,849	89,888
Total liabilities and shareholders' equity	$ 325,309	$ 302,529

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2016	Mar. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	50,000	50,000
Common stock, shares issued	12,466	12,466
Common stock, shares outstanding	7,753	7,702
Treasury stock, shares	4,714	4,714

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Interest and fee income on finance receivables	$ 90,707	$ 86,790	$ 82,629
Expenses:
Marketing	1,497	1,562	1,491
Salaries and employee benefits	22,313	20,835	19,634
Professional fees	1,194	1,383	3,659
Administrative	9,831	9,843	9,041
Provision for credit losses	26,278	20,371	14,979
Depreciation	458	366	318
Interest expense	9,007	5,970	5,678
Change in fair value of interest rate swap agreements	24	364	(688)
Total operating expenses	70,602	60,694	54,112
Operating income before income taxes	20,105	26,096	28,517
Income tax expense	7,726	9,240	11,814
Net income	$ 12,379	$ 16,856	$ 16,703
Earnings per share:
Basic (in dollars per share)	$ 1.60	$ 1.40	$ 1.38
Diluted (in dollars per share)	1.59	$ 1.38	1.36
Dividends declared per share (in dollars per share)	$ 0		$ 0.24

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Treasury Stock	Retained Earnings	Total
Balance at Mar. 31, 2013	$ 30,032		$ 96,934	$ 126,966
Balance (in shares) at Mar. 31, 2013	12,154
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			16,703	16,703
Issuance of common stock under stock options	$ 329			329
Issuance of common stock under stock options (in shares)	67
Excess tax benefit on share awards, net	$ 256			256
Share-based compensation	535			535
Cash dividend			(2,851)	(2,851)
Balance at Mar. 31, 2014	$ 31,152		110,786	141,938
Balance (in shares) at Mar. 31, 2014	12,221
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			16,856	16,856
Issuance of common stock under stock options	$ 389			389
Issuance of common stock under stock options (in shares)	151
Grants of restricted share awards, net of forfeitures (in shares)	44
Excess tax benefit on share awards, net	$ 600			600
Share-based compensation	$ 514			514
Common shares purchased		$ (70,409)		(70,409)
Common shares purchased (in shares)	(4,714)
Balance at Mar. 31, 2015	$ 32,655	(70,409)	127,642	89,888
Balance (in shares) at Mar. 31, 2015	7,702
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			12,379	12,379
Issuance of common stock under stock options	$ 85			85
Issuance of common stock under stock options (in shares)	13
Grants of restricted share awards, net of forfeitures (in shares)	38
Tax deficiency on share awards	$ (38)			(38)
Excess tax benefit on share awards, net	11			11
Share-based compensation	574			574
Additional tender offer cost		(50)		(50)
Balance at Mar. 31, 2016	$ 33,287	$ (70,459)	$ 140,021	$ 102,849
Balance (in shares) at Mar. 31, 2016	7,753

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$ 12,379	$ 16,856	$ 16,703
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	458	366	318
(Gain) loss on sale of property and equipment	(24)	6	(64)
Provision for credit losses	26,278	20,371	14,979
Amortization of dealer discounts	(13,811)	(13,852)	(13,491)
Deferred income taxes	(292)	356	1,710
Share-based compensation	574	514	535
Change in fair value of interest rate swap agreements	24	364	(688)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	192	66	(129)
Accounts payable and accrued expenses	(2,002)	(1,085)	1,519
Income taxes receivable	(480)	981	(991)
Deferred revenues	774	815	965
Net cash provided by operating activities	24,070	25,758	21,366
Cash flows from investing activities:
Purchase and origination of finance contracts	(173,027)	(164,830)	(156,997)
Principal payments received including recoveries	137,627	138,752	135,992
Increase in assets held for resale	(401)	(51)	(493)
Purchase of property and equipment	(913)	(443)	(465)
Proceeds from sale of property and equipment	61	68	83
Net cash used in investing activities	(36,653)	(26,504)	(21,880)
Cash flows from financing activities:
Net proceeds from line of credit	12,000	71,100	2,400
Payment of cash dividend	0		(2,851)
(Decrease) increase in drafts payable	(977)	137	242
Payment of debt origination costs	(25)	(318)	(25)
Proceeds from exercise of share awards	85	389	329
Excess tax benefits of stock options	11	600	256
Purchase of common shares	(50)	(70,409)
Net cash provided by financing activities	11,044	1,499	351
Net (decrease) increase in cash	(1,539)	753	(163)
Cash, beginning of year	3,388	2,635	2,798
Cash, end of year	1,849	$ 3,388	$ 2,635
Supplemental disclosure of noncash investing and financing activities:
Tax deficiency from share awards	$ (38)

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Nicholas Financial, Inc. (“Nicholas Financial – Canada”) is a Canadian holding company incorporated under the laws of British Columbia with two wholly owned United States subsidiaries, Nicholas Data Services, Inc. (“NDS”) and Nicholas Financial, Inc. (“NFI”). NDS historically was engaged in supporting and updating industry-specific computer application software for small businesses located primarily in the Southeastern United States. NDS has ceased its operations; however it continues as the interim holding company for Nicholas Financial. NDS’s activities accounted for less than 1% of the Company’s consolidated revenues for each of the fiscal years ended March 31, 2015 and 2014. NFI is a specialized consumer finance company engaged primarily in acquiring and servicing automobile finance installment contracts (“Contracts”) for purchases of new and used automobiles and light trucks. To a lesser extent, NFI also offers direct consumer loans (“Direct Loans”) and sells consumer-finance related products. Both NDS and NFI are based in Florida, U.S.A. The accompanying consolidated financial statements are stated in U.S. dollars and are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company has one reportable segment, which is the consumer finance company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Consolidation The consolidated financial statements include the accounts of Nicholas Financial – Canada and its wholly owned subsidiaries, NDS and NFI, collectively referred to as (the “Company”). All intercompany transactions and balances have been eliminated. Dividends The following cash dividends were declared during fiscal year ended March 31, 2014. No dividends were declared during the fiscal years ended March 31, 2015 and 2016. Fiscal Year Date Declared Record Date Date Paid Amount of Dividend 2014 May 7, 2013 June 21, 2013 June 28, 2013 $ 0.12 August 13, 2013 September 20, 2013 September 27, 2013 0.12 $ 0.24 Payment of cash dividends results in a 5% withholding tax payable by the Company under the Canada-United States Income Tax Convention which is included in earnings under the caption of administrative expenses. Tender Offer On March 19, 2015, the Company announced the final results of the modified “Dutch auction” tender offer for the purchase of approximately 4.7 million shares of the Company’s common shares by its principal operating subsidiary. The tender offer expired on March 13, 2015. Total payments for common shares, including costs were approximately $70.5 million. Such costs were recorded as an increase to treasury stock, reducing shareholders’ equity. The aggregate number of common shares purchased in the tender offer by Nicholas represented approximately 38.0% of the Company’s outstanding common shares as of March 17, 2015. Following settlement of the tender offer, the Company had approximately 7.7 million common shares outstanding. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on finance receivables and the fair value of interest rate swap agreements. Finance Receivables Finance receivables are recorded at cost, net of unearned interest, unearned dealer discounts and the allowance for credit losses. The amount of unearned interest, dealer discounts and allowance for credit losses as of March 31, 2016 and March 31, 2015 are approximately $186.3 and 169.1 million respectively (See Note 3). Allowance for Credit Losses The allowance for credit losses is increased by charges against earnings and decreased by charge-offs (net of recoveries). The Company aggregates Contracts into static pools consisting of Contracts purchased during a three-month period for each branch location as management considers these pools to have similar risk characteristics. Management’s periodic evaluation of the adequacy of the allowance is based on the Company’s past loan experience, known and inherent risks in the portfolio, adverse situations that may affect the borrowers’ ability to repay, the estimated value of any underlying collateral, and current economic conditions. As conditions change, the Company’s level of provisioning and allowance may change as well. Assets Held for Resale Assets held for resale are stated at net realizable value and consist primarily of automobiles that have been repossessed by the Company and are awaiting final disposition. Most costs associated with repossession, transport and auction preparation expenses are reported under operating expenses in the period in which they are incurred. Property and Equipment Property and equipment are recorded at cost, net of accumulated depreciation. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the assets as follows: Automobiles 3 years Equipment 5 years Furniture and fixtures 7 years Leasehold improvements Lesser of lease term or useful life Drafts Payable Drafts payable represent checks disbursed for loan purchases which have not yet been funded. Amounts generally clear within two business days of period end and then increase the line of credit or reduce cash. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases along with operating loss and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The Company recognizes tax benefits from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from any such position would be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. It is the Company’s policy to recognize interest and penalties accrued on any uncertain tax benefits as a component of income tax expense. The Company does not have any accrued interest or penalties associated with any unrecognized tax benefits, nor has the Company recognized any related interest or penalties during the three years ended March 31, 2016. The Company files income tax returns in the U.S. Federal jurisdiction and various State jurisdictions. The Company is no longer subject to U.S. Federal and State tax examinations for years before 2013. The Company does not believe there will be any material changes in its unrecognized tax positions over the next 12 months. Revenue Recognition Interest income on finance receivables is recognized using the interest method. Accrual of interest income on finance receivables is suspended when a loan is contractually delinquent for 60 days or more or the collateral is repossessed, whichever is earlier, or when the account is in Chapter 13 bankruptcy. Chapter 13 bankruptcy accounts are accounted for under the cost-recovery method. Interest income on Chapter 13 bankruptcy accounts does not resume until all principal amounts are recovered (see Note 3). A dealer discount represents the difference between the finance receivable, net of unearned interest, of a Contract, and the amount of money the Company actually pays for the Contract. The discount negotiated by the Company is a function of the lender, the wholesale value of the vehicle, and competition in any given market. In making decisions regarding the purchase of a particular Contract the Company considers the following factors related to the borrower: place and length of residence; current and prior job status; history in making installment payments for automobiles; current income; and credit history. In addition, the Company examines its prior experience with Contracts purchased from the dealer from which the Company is purchasing the Contract, and the value of the automobile in relation to the purchase price and the term of the Contract. The dealer discount is amortized as an adjustment to yield using the interest method over the life of the loan. The average dealer discount, as a percent of the amount financed, associated with new volume for the fiscal years ended March 31, 2016, 2015, and 2014 was 7.51%, 8.08% and 8.44%, respectively. The amount of future unearned income is computed as the product of the Contract rate, the Contract term and the Contract amount. Deferred revenues consist primarily of commissions received from the sale of ancillary products. These products include automobile warranties, roadside assistance programs, accident and health insurance, credit life insurance and forced placed automobile insurance. These commissions are amortized over the life of the contract using the interest method. The Company’s net costs for originating Direct Loans are deferred and recognized as an adjustment to the yield and are amortized over the life of the loan using the interest method. Earnings Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. As such, earnings per share is calculated using the two-class method. Basic earnings per share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per share includes the dilutive effect of additional potential common shares from stock compensation awards. Earnings per share have been computed based on the following weighted average number of common shares outstanding: Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2016 2015 2014 Numerator: Net income per consolidated statements of income $ 12,379 $ 16,856 $ 16,703 Less: Allocation of earnings to participating securities (170 ) — — Net income allocated to common stock 12,209 $ 16,856 $ 16,703 Basic earnings per share computation: Net income allocated to common stock $ 12,209 $ 16,856 $ 16,703 Weighted average common shares outstanding, including shares considered participating securities 7,727 12,013 12,096 Less: Weighted average participating securities outstanding (105 ) — — Weighted average shares of common stock 7,622 12,013 12,096 Basic earnings per share $ 1.60 1.40 1.38 Diluted earnings per share computation: Net income allocated to common stock $ 12,209 $ 16,856 $ 16,703 Undistributed earnings re-allocated to participating securities 2 — — Net income allocated to common stock $ 12,211 $ 16,856 $ 16,703 Weighted average common shares outstanding for basic earnings per share 7,622 12,013 12,096 Incremental shares from stock options 70 179 229 Weighted average shares and dilutive potential common shares 7,692 12,192 12,325 Diluted earnings per share $ 1.59 $ 1.38 $ 1.36 Diluted earnings per share do not include the effect of certain stock options as their impact would be anti-dilutive. Approximately 161,000, 155,000, and 10,000 stock options were not included in the computation of diluted earnings per share for the years ended March 31, 2016, 2015 and 2014 respectively, because their effect would have been anti-dilutive. Share-Based Payments The grant date fair value of share awards is recognized in earnings over the requisite service period (presumptively the vesting period). The Company estimates the fair value of option awards using the Black-Scholes option pricing model. The risk-free interest rate is based upon a U.S. Treasury instrument with a life that is similar to the expected term of the options. Expected volatility is based upon the historical volatility for the previous period equal to the expected term of the options. The expected term is based upon the average life of previously issued options. The expected dividend yield is based upon the yield expected on date of grant to occur over the term of the option. The fair value of non-vested restricted and performance shares are measured at the market price of a share on a grant date. The pool of excess tax benefits available to absorb future tax deficiencies is based on increases to shareholders’ equity related to tax benefits from share-based compensation, combined with the tax on the cumulative incremental compensation costs previously included in pro forma net income disclosures as if the Company had applied the fair-value method to all awards. Fair Value Measurements The Company measures specific assets and liabilities at fair value, which is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When applicable, the Company utilizes market data or assumptions that market participants would use in pricing the asset or liability under a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions (see Note 7). Financial Instruments and Concentrations The Company’s financial instruments consist of cash, finance receivables (accrued interest is a part of finance receivables), the line of credit, and interest rate swap agreements. Financial instruments that are exposed to concentrations of credit risk are primarily finance receivables and cash. As of March 31, 2016, the Company operated in eighteen states through sixty-seven branch locations. Florida represented 29% of the finance receivables total as of March 31, 2016. Ohio represented 14%, Georgia represented 10% and North Carolina represented 8% of the finance receivables total as of March 31, 2016. Of the remaining fourteen states, no one state represented more than 5% of the total finance receivables. The Company provides credit during the normal course of business and performs ongoing credit evaluations of its customers. The Company maintains reserves for potential credit losses which, when realized, have been within the range of management’s expectations. The Company perfects a primary security interest in all vehicles financed as a form of collateral. The combined account balances the Company maintains at financial institutions typically exceed federally insured limits, and there is a concentration of credit risk related to accounts on deposit in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes this risk of loss is not significant. Interest Rate Swap Agreements Interest rate swap agreements are reported as either assets or liabilities in the consolidated balance sheet at fair value. Interest rate swap agreements are not designated as cash-flow hedges, and accordingly, the changes in the fair value are recorded in earnings. The Company does not use interest rate swap agreements for speculative purposes (see Note 6). Statements of Cash Flows Cash paid for income taxes for the years ended March 31, 2016, 2015 and 2014 was approximately $8.5 million, $7.3 million and $10.8 million respectively. Cash paid for interest, including debt origination costs for the years ended March 31, 2016, 2015 and 2014 was approximately $8.8 million, $6.1 million and $5.7 million respectively. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update (“ASU”) 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” In February 2016, the FASB issued ASU No. 2016-02, “Leases”, intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. “The ASU will require organizations that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The accounting by organizations that own the assets leased by the lessee—also known as lessor accounting— will remain largely unchanged from current U.S. GAAP. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The Company is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments—Recognition and Measurement of Financial Assets and Liabilities,” which is intended to improve the recognition and measurement of financial instruments by requiring: equity investments (other than equity method or consolidation) to be measured at fair value with changes in fair value recognized in net income; public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. This ASU is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. This ASU permits early adoption of the instrument-specific credit risk provision. The Company is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU No. 2015-15, since 2015-03 did not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. The SEC staff indicated they would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments is permitted. The Company does not believe the adoption of this ASU will have a significant impact on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The ASU requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU, and all subsequently issued clarifying ASUs, will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The standard permits the use of either the retrospective or cumulative effect transition method. On July 9, 2015, the FASB approved the deferral of the effective date of ASU 2014-09 by one year. As a result, ASU 2014-09 will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The ASU would permit public entities to adopt the ASU early, but not before the original effective date (i.e., annual periods beginning after December 15, 2016). The Company has not yet selected a transition method and is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements. The Company does not believe there are any other recently issued accounting standards that have not yet been adopted that will have a material impact on the Company’s consolidated financial statements.

Finance Receivables

Finance Receivables	12 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Finance Receivables	3. Finance Receivables Finance receivables consist of Contracts and Direct Loans, each of which comprise a portfolio segment. Each portfolio segment consists of smaller balance homogeneous loans which are collectively evaluated for impairment. The Company purchases individual Contracts from new and used automobile dealers in its markets. There is no relationship between the Company and the dealer with respect to a given Contract once the assignment of that Contract is complete. The dealer has no vested interest in the performance of any Contract the Company purchases. The Company charges-off receivables when an individual account has become more than 120 days contractually delinquent. In the event of repossession, the charge-off will occur in the month in which the vehicle was repossessed. Contracts included in finance receivables are detailed as follows as of fiscal years ended March 31: 2016 (In thousands) 2015 2014 Indirect finance receivables, gross contract $ 487,118 $ 447,043 $ 413,612 Unearned interest (152,911 ) (136,896 ) (121,996 ) Indirect finance receivables, net of unearned interest 334,207 310,147 291,616 Unearned dealer discounts (18,023 ) (17,780 ) (17,214 ) Indirect finance receivables, net of unearned interest and unearned dealer discounts 316,184 292,367 274,402 Allowance for credit losses (12,265 ) (11,325 ) (12,889 ) Indirect finance receivables, net $ 303,919 $ 281,042 $ 261,513 The terms of the Contracts range from 12 to 72 months and bear a weighted average contractual interest rate of 22.67% and 22.86% as of March 31, 2016 and 2015, respectively. The following table sets forth a reconciliation of the changes in the allowance for credit losses on Contracts for the fiscal years ended March 31: 2016 (In thousands) 2015 2014 Balance at beginning of year $ 11,325 $ 12,889 $ 16,091 Provision for credit losses 25,926 20,008 14,694 Losses absorbed (27,963 ) (25,042 ) (21,691 ) Recoveries 2,977 3,470 3,795 Balance at end of year $ 12,265 $ 11,325 $ 12,889 The Company purchases Contracts from automobile dealers at a negotiated price that is less than the original principal amount being financed by the purchaser of the automobile. The Contracts are predominately for used vehicles. As of March 31, 2016, the average model year of vehicles collateralizing the portfolio was a 2007 vehicle. The Company utilizes a static pool approach to track portfolio performance. If the allowance for credit losses is determined to be inadequate for a static pool, then an additional charge to income through the provision is used to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio, the composition of the portfolio, and current economic conditions. Such evaluation, considers among other matters, the estimated net realizable value of the underlying collateral, economic conditions, historical loan loss experience, management’s estimate of probable credit losses and other factors that warrant recognition in providing for an adequate allowance for credit losses. Direct Loans are also included in finance receivables and are detailed as follows as of fiscal years ended March 31: 2016 (In thousands) 2015 2014 Direct finance receivables, gross contract $ 11,012 $ 10,932 $ 10,731 Unearned interest (2,346 ) (2,367 ) (2,311 ) Direct finance receivables, net of unearned interest 8,666 8,565 8,420 Allowance for credit losses (748 ) (703 ) (590 ) Direct finance receivables, net $ 7,918 $ 7,862 $ 7,830 The terms of the Direct Loans range from 12 to 60 months and bear a weighted average contractual interest rate of 25.72% and 26.14% as of March 31, 2016 and 2015, respectively. The following table sets forth a reconciliation of the changes in the allowance for credit losses on Direct Loans for the fiscal years ended March 31: 2016 (In thousands) Balance at beginning of year $ 703 $ 590 $ 468 Provision for credit losses 352 362 285 Losses absorbed (328 ) (277 ) (192 ) Recoveries 21 28 29 Balance at end of year $ 748 $ 703 $ 590 Direct Loans are loans originated directly between the Company and the consumer. These loans are typically for amounts ranging from $1,000 to $9,000 and are generally secured by a lien on an automobile, watercraft or other permissible tangible personal property. The majority of Direct Loans are originated with current or former customers under the Company’s automobile financing program. The typical Direct Loan represents a significantly better credit risk than Contracts due to the customer’s historical payment history with the Company; however, the underlying collateral is less valuable. In deciding whether or not to make a loan, the Company considers the individual’s credit history, job stability, income and impressions created during a personal interview with a Company loan officer. Additionally, because most of the Direct Loans made by the Company to date have been made to borrowers under Contracts previously purchased by the Company, the payment history of the borrower under the Contract is a significant factor in making the loan decision. As of March 31, 2016, loans made by the Company pursuant to its Direct Loan program constituted approximately 2% of the aggregate principal amount of the Company’s loan portfolio. Changes in the allowance for credit losses for both Contracts and Direct Loans were driven by current economic conditions and credit loss trends over several reporting periods which are utilized in estimating future losses and overall portfolio performance. A performing account is defined as an account that is less than 61 days past due. A non-performing account is defined as an account that is contractually delinquent for 61 days or more or is a Chapter 13 bankruptcy account, and the accrual of interest income is suspended. When an account is 120 days contractually delinquent, the account is written off. Upon notification of a bankruptcy, an account is monitored for collection with other Chapter 13 bankruptcy accounts. In the event the debtors balance has been reduced by the bankruptcy court, the Company will record a loss equal to the amount of principal balance reduction. The remaining balance will be reduced as payments are received by the bankruptcy court. In the event an account is dismissed from bankruptcy, the Company will decide, based on several factors, to begin repossession proceedings or to allow the customer to begin making regularly scheduled payments. The following table is an assessment of the credit quality by creditworthiness as of March 31: (In thousands) 2016 2015 Contracts Direct Loans Contracts Direct Loans Performing accounts $ 473,429 $ 10,899 $ 438,318 $ 10,855 Non-performing accounts 9,435 79 4,765 57 Total $ 482,864 $ 10,978 $ 443,083 $ 10,912 Chapter 13 bankruptcy accounts, net of unearned interest 4,254 34 3,960 20 Finance receivables, gross contract $ 487,118 $ 11,012 $ 447,043 $ 10,932 The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans, excluding any Chapter 13 bankruptcy accounts: (In thousands) Contracts Gross Balance 31 – 60 days 61 – 90 days Over Total March 31, 2016 $ 482,864 $ 17,466 $ 6,069 $ 3,366 $ 26,901 3.61 % 1.26 % 0.70 % 5.57 % March 31, 2015 $ 443,083 $ 13,694 $ 3,435 $ 1,330 $ 18,459 3.09 % 0.78 % 0.30 % 4.17 % March 31, 2014 $ 410,532 $ 11,713 $ 2,944 $ 1,897 $ 16,554 2.85 % 0.72 % 0.46 % 4.03 % Direct Loans Gross Balance 31 – 60 days 61 – 90 days Over Total March 31, 2016 $ 10,978 $ 161 $ 41 $ 38 $ 240 1.47 % 0.37 % 0.35 % 2.19 % March 31, 2015 $ 10,912 $ 122 $ 42 $ 15 $ 179 1.12 % 0.38 % 0.14 % 1.64 % March 31, 2014 $ 10,705 $ 143 $ 25 $ 23 $ 191 1.34 % 0.23 % 0.21 % 1.78 %

Property and Equipment

Property and Equipment	12 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment as of March 31, 2016 and 2015 is summarized as follows: (In thousands) Cost Accumulated Net Book 2016 Automobiles $ 623 $ 413 $ 210 Equipment 1,473 664 809 Furniture and fixtures 512 408 104 Leasehold improvements 1,144 977 167 $ 3,752 $ 2,462 $ 1,290 2015 Automobiles $ 613 $ 365 $ 248 Equipment 906 516 390 Furniture and fixtures 486 391 95 Leasehold improvements 1,103 964 139 $ 3,108 $ 2,236 $ 872

Line of Credit

Line of Credit	12 Months Ended
	Mar. 31, 2016
Line Of Credit Facility [Abstract]
Line of Credit	5. Line of Credit On January 31, 2015 the Company executed an amendment with its consortium of lenders. Included in the amendment was an increase in the size of the credit facility (the “Line”) from $150.0 million to $225.0 million once the tender offer (see Note 1) became effective which was executed on March 13, 2015. The pricing of the Line, which did not change, expires on January 30, 2018, is 300 basis points above 1-month LIBOR with a 1% floor on LIBOR (4.00% at March 31, 2016 and March 31, 2015) plus an unused line fee of 0.50%. Pledged as collateral for the Line are all of the assets of the Company. The outstanding amount of the Line was $211.0 million and $199.0 million as of March 31, 2016 and March 31, 2015, respectively. The amount available under the Line was $14.0 million and $26.0 million as of March 31, 2016 and March 31, 2015, respectively. The Line requires compliance with certain financial ratios and covenants and satisfaction of specified financial tests, including maintenance of asset quality and performance tests. Dividends do not require consent in writing by the agent and majority lenders under the new Line as long as the Company is in compliance with a net income covenant. As of March 31, 2016, the Company was in compliance with all debt covenants.

Interest Rate Swap Agreements

Interest Rate Swap Agreements	12 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swap Agreements	6. Interest Rate Swap Agreements The Company utilizes interest rate swap agreements to manage exposure to variability in expected cash flows attributable to interest rate risk. The interest rate swap agreements convert a portion of the Company’s floating rate debt to a fixed rate, more closely matching the interest rate characteristics of the Company’s finance receivables. As of the twelve months ended March 31, 2016 and 2015, no new contracts were initiated and no contracts matured. The Company currently has two interest rate swap agreements. A June 4, 2012 interest rate swap agreement provides for a five-year term in which the Company pays a fixed rate of 1% and receives payments from the counterparty on the 1-month LIBOR rate. This interest rate swap agreement has an effective date of June 13, 2012 and a notional amount of $25.0 million. A July 30, 2012 agreement provides for a five-year term in which the Company pays a fixed rate of 0.87% and receives payments from the counterparty on the 1-month LIBOR rate. This interest rate swap agreement has an effective date of August 13, 2012 and a notional amount of $25.0 million. The locations and amounts of losses recognized in income are detailed as follows for the fiscal years ended March 31: (In thousands) 2016 2015 Periodic change in fair value of interest rate swap agreements $ (24 ) $ (364 ) Periodic settlement differentials included in interest expense (343 ) (393 ) Loss recognized in income $ (367 ) $ (757 ) Net realized losses from the interest rate swap agreements were recorded in the interest expense line item of the consolidated statements of income. The following table summarizes the average variable rates received and average fixed rates paid under the interest rate swap agreements as of March 31: 2016 2015 Average variable rate received 0.26 % 0.16 % Average fixed rate paid 0.94 % 0.94 %

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	7. Fair Value Disclosures Assets and Liabilities Recorded at Fair Value on a Recurring Basis The Company estimates the fair value of interest rate swap agreements based on the estimated net present value of the future cash flows using a forward interest rate yield curve in effect as of the measurement period, adjusted for nonperformance risk, if any, including a quantitative and qualitative evaluation of both the Company’s credit risk and the counterparty’s credit risk. Accordingly, the Company classifies interest rate swap agreements as Level 2. Fair Value Measurement Using (In thousands) Description Level 1 Level 2 Level 3 Fair Interest rate swap agreements: March 31, 2016 – liability: $ 0 $ (205 ) $ 0 $ (205 ) March 31, 2015 – liability: $ — $ (181 ) $ — $ (181 ) Financial Instruments Not Measured at Fair Value The Company’s financial instruments consist of cash, finance receivables and the Line. For each of these financial instruments the carrying value approximates fair value. Finance receivables, net approximates fair value based on the price paid to acquire Contracts. The price paid reflects competitive market interest rates and purchase discounts for the Company’s chosen credit grade in the economic environment. This market is highly liquid as the Company acquires individual loans on a daily basis from dealers. The initial terms of the Contracts range from 12 to 72 months. The initial terms of the Direct Loans range from 12 to 60 months. In addition, there have been minimal decreases in interest rates and purchase discounts related to these types of loans due to the competitive nature of the current market. If liquidated outside of the normal course of business, the amount received may not be the carrying value. Based on current market conditions, any new or renewed credit facility would contain pricing that approximates the Company’s current Line. Based on these market conditions, the fair value of the Line as of March 31, 2016 was estimated to be equal to the book value. The interest rate for the Line is a variable rate based on LIBOR pricing options. Fair Value Measurement Using (In thousands) Description Level 1 Level 2 Level 3 Fair Value Carrying Value Cash: March 31, 2016 $ 1,849 $ 0 $ 0 $ 1,849 $ 1,849 March 31, 2015 $ 3,388 $ — $ — $ 3,388 $ 3,388 Finance receivables: March 31, 2016 $ 0 $ 0 $ 311,837 $ 311,837 $ 311,837 March 31, 2015 $ — $ — $ 288,904 $ 288,904 $ 288,904 Line of credit: March 31, 2016 $ 0 $ 211,000 $ 0 $ 211,000 $ 211,000 March 31, 2015 $ — $ 199,000 $ — $ 199,000 $ 199,000 Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain assets and liabilities at fair value on a nonrecurring basis. The Company did not have any assets or liabilities measured at fair value on a nonrecurring basis as of March 31, 2016 and 2015.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The provision for income taxes consists of the following for the years ended March 31: (In thousands) 2016 2015 2014 Current: Federal $ 6,931 $ 7,688 $ 8,709 State 1,049 1,196 1,395 Total current 7,980 8,884 10,104 Deferred: Federal (221 ) 308 1,474 State (33 ) 48 236 Total deferred (254 ) 356 1,710 Income tax expense $ 7,726 $ 9,240 $ 11,814 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: (In thousands) 2016 2015 Allowance for credit losses not currently deductible for tax purposes $ 5,918 $ 5,552 Share-based compensation 491 514 Interest rate swap agreements 78 69 Other items 128 226 Deferred income taxes $ 6,615 $ 6,361 The provision for income taxes reflects an effective U.S tax rate, which differs from the corporate tax rate for the following reasons: (In thousands) 2016 2015 2014 Provision for income taxes at Federal statutory rate $ 7,037 $ 9,134 $ 9,981 Increase (decrease) resulting from: State income taxes, net of Federal benefit 660 809 1,059 Transaction costs 0 (734 ) 734 Other 29 31 40 Income tax expense $ 7,726 $ 9,240 $ 11,814 The Company’s effective tax rate increased to 38.43% in fiscal 2016 from 35.41% in fiscal 2015 and 41.73% in fiscal 2014. The Company had approximately $2.1 million of previously non-deductible expenses associated with the potential sale of the Company in 2014. Since the sale of the Company was not consummated, the $2.1 million became deductible in 2015 creating a favorable effective tax rate.

Share-Based Payments

Share-Based Payments	12 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Share-Based Payments	9. Share-Based Payments The Company has share awards outstanding under two share-based compensation plans (the “Equity Plans”). The Company believes that such awards better align the interests of its employees with those of its shareholders. Under the shareholder-approved 2006 Equity Incentive Plan (the “2006 Plan”) the Board of Directors was authorized to grant option awards for up to approximately 1.1 million common shares. On August 13, 2015, the Company’s shareholders approved the Nicholas Financial, Inc. Omnibus Incentive Plan (the “2015 Plan”) for employees and non-employee directors. Under the 2015 Plan, the Board of Directors is authorized to grant total share awards for up to 750,000 common shares. Awards under the 2006 Plan will continue to be governed by the terms of that plan. The 2015 Plan replaced the 2006 Plan; accordingly no additional option awards may be granted under the 2006 Plan. In addition to option awards, the 2015 Plan provides for restricted stock, performance share awards, and other equity based compensation. Option awards previously granted to employees and directors under the 2006 Plan generally vest ratably based on service over a five- and three-year period, respectively, and generally have a contractual term of ten years. Vesting and contractual terms for option awards under the 2015 Plan are essentially the same as those of the 2006 Plan. Restricted stock awards generally cliff vest over a three-year period based on service conditions. The annual vesting of performance share awards is contingent upon the attainment of company-wide performance goals including annual revenue growth and operating income targets. There are no post-vesting restrictions for share awards. The Company funds share awards from authorized but unissued shares and does not purchase shares to fulfill the obligations of the plans. Cash dividends, if any, are not paid on unvested performance shares or unexercised options, but are paid on unvested restricted stock awards. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2016 2015 Risk-free interest rate 1.58 % 1.68 % Weighted average expected original term 5 years 5 years Expected volatility 23 % 23 % Expected dividend yield 0.00 % 3.65 % The Company did not grant any options during the year ended March 31, 2014. A summary of option activity under the Equity Plans as of March 31, 2016, and changes during the year are presented below. (Shares in thousands) Options Shares Weighted Weighted Aggregate Outstanding at March 31, 2015 363 $ 9.86 Granted 10 $ 12.95 0 0 Exercised (13 ) $ 6.45 0 0 Forfeited (3 ) $ 10.07 0 0 Outstanding at March 31, 2016 357 $ 10.07 5.75 $ 725 Exercisable at March 31, 2016 198 $ 7.75 4.04 $ 725 The Company granted approximately 10,000 options with a weighted average fair value of $3.01 during the year ended March 31, 2016. The total intrinsic value of options exercised during the years ended March 31, 2016, 2015 and 2014 was approximately $82,000, $1,829,000, and $699,000 respectively. During the fiscal year ended March 31, 2016, approximately 13,000 options were exercised at exercise prices ranging from $1.20 to $10.96 per share. During the same period approximately 3,000 options were forfeited at exercise prices ranging from $3.60 to $10.96 per share. Cash received from options exercised during the fiscal years ended March 31, 2016, 2015 and 2014 totaled approximately $85,000, $389,000, and $329,000, respectively. Related income tax benefits during the same periods totaled approximately $31,000, $700,000, and $267,000, respectively. Such amounts are included in proceeds from exercise of stock options and excess tax benefit on share awards under cash flows from financing activities in the consolidated statements of cash flows. As of March 31, 2016, there was approximately $246,000 of total unrecognized compensation cost related to options granted. That cost is expected to be recognized over a weighted-average period of approximately 2.6 years. A summary of the status of the Company’s non-vested restricted shares under the Equity Plan as of March 31, 2016, and changes during the year then ended is presented below. (Shares in thousands) Restricted Share Awards Shares Weighted Weighted Aggregate Non-vested at March 31, 2015 89 $ 13.56 Granted 38 $ 13.27 0 0 Vested (45 ) $ 12.93 0 0 Forfeited 0 $ 0 0 0 Non-vested at March 31, 2016 82 $ 13.78 1.75 $ 879 The Company awarded approximately 38,000 restricted shares during the fiscal year ended March 31, 2016. During the same period no restricted shares were forfeited. As of March 31, 2016, there was approximately $643,000 of total unrecognized compensation cost related to non-vested restricted share awards granted under the Equity Plans. That cost is expected to be recognized over a weighted-average period of approximately 1.75 years. The Company did not award any performance shares during the fiscal year ended March 31, 2016 or March 31, 2015. As of March 31, 2016, under the Equity Plans, there were no non-vested performance shares and no unrecognized compensation related to performance shares.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Mar. 31, 2016
Employee Benefits and Share-Based Compensation [Abstract]
Employee Benefit Plans	10. Employee Benefit Plan The Company has a 401(k) retirement plan under which all employees are eligible to participate. Employee contributions are voluntary and subject to Internal Revenue Service limitations. The Company did not make a discretionary matching employee contribution. The Board will re-evaluate the Company’s matching policy for plan year 2017 later this year. For the fiscal years ended March 31, 2016, 2015 and 2014, the Company recorded expenses of approximately $7,000, each year related to this plan.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies The Company leases corporate and branch offices under operating lease agreements which provide for annual minimum rental payments as follows: Fiscal Year Ending March 31 (In thousands) 2017 $ 2,101 2018 1,610 2019 1,164 2020 581 2021 79 $ 5,535 Rent expense for the fiscal years ended March 31, 2016, 2015, and 2014 was approximately $2.3, $2.1, and $2.0 million respectively. The Company recognizes rent expense on a straight-line basis over the term of the lease, taking into account, when applicable, lessor incentives for tenant improvements, periods where no rent payment is required and escalations in rent payments over the term of the lease. The Company currently is not a party to any pending legal proceedings other than ordinary routine litigation incidental to its business, none of which, if decided adversely to the Company, would, in the opinion of management, have a material adverse effect on the Company’s financial condition or results of operations.

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Data [Abstract]
Quarterly Results of Operations (Unaudited)	12. Quarterly Results of Operations (Unaudited) Fiscal Year ended March 31, 2016 (In thousands, except earnings per share amounts) First Second Third Fourth Total revenue $ 22,025 $ 22,687 $ 22,757 $ 23,238 Interest expense 2,166 2,273 2,311 2,257 Provision for credit losses 4,989 6,177 7,599 7,513 Non-interest expense 8,915 8,940 8,422 9,040 Operating income before income taxes 5,955 5,297 4,425 4,428 Income tax expense 2,285 2,041 1,698 1,702 Net income $ 3,670 $ 3,256 $ 2,727 $ 2,726 Earnings per share: Basic $ 0.48 $ 0.43 $ 0.36 $ 0.35 Diluted $ 0.47 $ 0.42 $ 0.35 $ 0.35 Fiscal Year ended March 31, 2015 (In thousands, except earnings per share amounts) First Second Third Fourth Total revenue $ 21,333 $ 21,723 $ 21,801 $ 21,933 Interest expense 1,449 1,485 1,458 1,578 Provision for credit losses 4,232 5,154 5,797 5,188 Non-interest expense 8,921 8,089 8,408 8,935 Operating income before income taxes 6,731 6,995 6,138 6,232 Income tax expense 1,822 2,665 2,369 2,384 Net income $ 4,909 $ 4,330 $ 3,769 $ 3,848 Earnings per share: Basic $ 0.40 $ 0.36 $ 0.31 $ 0.34 Diluted $ 0.40 $ 0.35 $ 0.30 $ 0.33

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of Nicholas Financial – Canada and its wholly owned subsidiaries, NDS and NFI, collectively referred to as (the “Company”). All intercompany transactions and balances have been eliminated.
Dividends	Dividends The following cash dividends were declared during fiscal year ended March 31, 2014. No dividends were declared during the fiscal years ended March 31, 2015 and 2016. Fiscal Year Date Declared Record Date Date Paid Amount of Dividend 2014 May 7, 2013 June 21, 2013 June 28, 2013 $ 0.12 August 13, 2013 September 20, 2013 September 27, 2013 0.12 $ 0.24 Payment of cash dividends results in a 5% withholding tax payable by the Company under the Canada-United States Income Tax Convention which is included in earnings under the caption of administrative expenses.
Tender Offer	Tender Offer On March 19, 2015, the Company announced the final results of the modified “Dutch auction” tender offer for the purchase of approximately 4.7 million shares of the Company’s common shares by its principal operating subsidiary. The tender offer expired on March 13, 2015. Total payments for common shares, including costs were approximately $70.5 million. Such costs were recorded as an increase to treasury stock, reducing shareholders’ equity. The aggregate number of common shares purchased in the tender offer by Nicholas represented approximately 38.0% of the Company’s outstanding common shares as of March 17, 2015. Following settlement of the tender offer, the Company had approximately 7.7 million common shares outstanding.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on finance receivables and the fair value of interest rate swap agreements.
Finance Receivables	Finance Receivables Finance receivables are recorded at cost, net of unearned interest, unearned dealer discounts and the allowance for credit losses. The amount of unearned interest, dealer discounts and allowance for credit losses as of March 31, 2016 and March 31, 2015 are approximately $186.3 and 169.1 million respectively (See Note 3).
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses is increased by charges against earnings and decreased by charge-offs (net of recoveries). The Company aggregates Contracts into static pools consisting of Contracts purchased during a three-month period for each branch location as management considers these pools to have similar risk characteristics. Management’s periodic evaluation of the adequacy of the allowance is based on the Company’s past loan experience, known and inherent risks in the portfolio, adverse situations that may affect the borrowers’ ability to repay, the estimated value of any underlying collateral, and current economic conditions. As conditions change, the Company’s level of provisioning and allowance may change as well.
Assets Held for Resale	Assets Held for Resale Assets held for resale are stated at net realizable value and consist primarily of automobiles that have been repossessed by the Company and are awaiting final disposition. Most costs associated with repossession, transport and auction preparation expenses are reported under operating expenses in the period in which they are incurred.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, net of accumulated depreciation. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the assets as follows: Automobiles 3 years Equipment 5 years Furniture and fixtures 7 years Leasehold improvements Lesser of lease term or useful life
Drafts Payable	Drafts Payable Drafts payable represent checks disbursed for loan purchases which have not yet been funded. Amounts generally clear within two business days of period end and then increase the line of credit or reduce cash.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases along with operating loss and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The Company recognizes tax benefits from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from any such position would be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. It is the Company’s policy to recognize interest and penalties accrued on any uncertain tax benefits as a component of income tax expense. The Company does not have any accrued interest or penalties associated with any unrecognized tax benefits, nor has the Company recognized any related interest or penalties during the three years ended March 31, 2016. The Company files income tax returns in the U.S. Federal jurisdiction and various State jurisdictions. The Company is no longer subject to U.S. Federal and State tax examinations for years before 2013. The Company does not believe there will be any material changes in its unrecognized tax positions over the next 12 months.
Revenue Recognition	Revenue Recognition Interest income on finance receivables is recognized using the interest method. Accrual of interest income on finance receivables is suspended when a loan is contractually delinquent for 60 days or more or the collateral is repossessed, whichever is earlier, or when the account is in Chapter 13 bankruptcy. Chapter 13 bankruptcy accounts are accounted for under the cost-recovery method. Interest income on Chapter 13 bankruptcy accounts does not resume until all principal amounts are recovered (see Note 3). A dealer discount represents the difference between the finance receivable, net of unearned interest, of a Contract, and the amount of money the Company actually pays for the Contract. The discount negotiated by the Company is a function of the lender, the wholesale value of the vehicle, and competition in any given market. In making decisions regarding the purchase of a particular Contract the Company considers the following factors related to the borrower: place and length of residence; current and prior job status; history in making installment payments for automobiles; current income; and credit history. In addition, the Company examines its prior experience with Contracts purchased from the dealer from which the Company is purchasing the Contract, and the value of the automobile in relation to the purchase price and the term of the Contract. The dealer discount is amortized as an adjustment to yield using the interest method over the life of the loan. The average dealer discount, as a percent of the amount financed, associated with new volume for the fiscal years ended March 31, 2016, 2015, and 2014 was 7.51%, 8.08% and 8.44%, respectively. The amount of future unearned income is computed as the product of the Contract rate, the Contract term and the Contract amount. Deferred revenues consist primarily of commissions received from the sale of ancillary products. These products include automobile warranties, roadside assistance programs, accident and health insurance, credit life insurance and forced placed automobile insurance. These commissions are amortized over the life of the contract using the interest method. The Company’s net costs for originating Direct Loans are deferred and recognized as an adjustment to the yield and are amortized over the life of the loan using the interest method.
Earnings Per Share	Earnings Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. As such, earnings per share is calculated using the two-class method. Basic earnings per share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per share includes the dilutive effect of additional potential common shares from stock compensation awards. Earnings per share have been computed based on the following weighted average number of common shares outstanding: Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2016 2015 2014 Numerator: Net income per consolidated statements of income $ 12,379 $ 16,856 $ 16,703 Less: Allocation of earnings to participating securities (170 ) — — Net income allocated to common stock 12,209 $ 16,856 $ 16,703 Basic earnings per share computation: Net income allocated to common stock $ 12,209 $ 16,856 $ 16,703 Weighted average common shares outstanding, including shares considered participating securities 7,727 12,013 12,096 Less: Weighted average participating securities outstanding (105 ) — — Weighted average shares of common stock 7,622 12,013 12,096 Basic earnings per share $ 1.60 1.40 1.38 Diluted earnings per share computation: Net income allocated to common stock $ 12,209 $ 16,856 $ 16,703 Undistributed earnings re-allocated to participating securities 2 — — Net income allocated to common stock $ 12,211 $ 16,856 $ 16,703 Weighted average common shares outstanding for basic earnings per share 7,622 12,013 12,096 Incremental shares from stock options 70 179 229 Weighted average shares and dilutive potential common shares 7,692 12,192 12,325 Diluted earnings per share $ 1.59 $ 1.38 $ 1.36 Diluted earnings per share do not include the effect of certain stock options as their impact would be anti-dilutive. Approximately 161,000, 155,000, and 10,000 stock options were not included in the computation of diluted earnings per share for the years ended March 31, 2016, 2015 and 2014 respectively, because their effect would have been anti-dilutive.
Share-Based Payments	Share-Based Payments The grant date fair value of share awards is recognized in earnings over the requisite service period (presumptively the vesting period). The Company estimates the fair value of option awards using the Black-Scholes option pricing model. The risk-free interest rate is based upon a U.S. Treasury instrument with a life that is similar to the expected term of the options. Expected volatility is based upon the historical volatility for the previous period equal to the expected term of the options. The expected term is based upon the average life of previously issued options. The expected dividend yield is based upon the yield expected on date of grant to occur over the term of the option. The fair value of non-vested restricted and performance shares are measured at the market price of a share on a grant date. The pool of excess tax benefits available to absorb future tax deficiencies is based on increases to shareholders’ equity related to tax benefits from share-based compensation, combined with the tax on the cumulative incremental compensation costs previously included in pro forma net income disclosures as if the Company had applied the fair-value method to all awards.
Fair Value Measurements	Fair Value Measurements The Company measures specific assets and liabilities at fair value, which is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When applicable, the Company utilizes market data or assumptions that market participants would use in pricing the asset or liability under a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions (see Note 7).
Financial Instruments and Concentrations	Financial Instruments and Concentrations The Company’s financial instruments consist of cash, finance receivables (accrued interest is a part of finance receivables), the line of credit, and interest rate swap agreements. Financial instruments that are exposed to concentrations of credit risk are primarily finance receivables and cash. As of March 31, 2016, the Company operated in eighteen states through sixty-seven branch locations. Florida represented 29% of the finance receivables total as of March 31, 2016. Ohio represented 14%, Georgia represented 10% and North Carolina represented 8% of the finance receivables total as of March 31, 2016. Of the remaining fourteen states, no one state represented more than 5% of the total finance receivables. The Company provides credit during the normal course of business and performs ongoing credit evaluations of its customers. The Company maintains reserves for potential credit losses which, when realized, have been within the range of management’s expectations. The Company perfects a primary security interest in all vehicles financed as a form of collateral. The combined account balances the Company maintains at financial institutions typically exceed federally insured limits, and there is a concentration of credit risk related to accounts on deposit in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes this risk of loss is not significant.
Interest Rate Swap Agreements	Interest Rate Swap Agreements Interest rate swap agreements are reported as either assets or liabilities in the consolidated balance sheet at fair value. Interest rate swap agreements are not designated as cash-flow hedges, and accordingly, the changes in the fair value are recorded in earnings. The Company does not use interest rate swap agreements for speculative purposes (see Note 6).
Statements of Cash Flows	Statements of Cash Flows Cash paid for income taxes for the years ended March 31, 2016, 2015 and 2014 was approximately $8.5 million, $7.3 million and $10.8 million respectively. Cash paid for interest, including debt origination costs for the years ended March 31, 2016, 2015 and 2014 was approximately $8.8 million, $6.1 million and $5.7 million respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update (“ASU”) 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” In February 2016, the FASB issued ASU No. 2016-02, “Leases”, intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. “The ASU will require organizations that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The accounting by organizations that own the assets leased by the lessee—also known as lessor accounting— will remain largely unchanged from current U.S. GAAP. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The Company is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments—Recognition and Measurement of Financial Assets and Liabilities,” which is intended to improve the recognition and measurement of financial instruments by requiring: equity investments (other than equity method or consolidation) to be measured at fair value with changes in fair value recognized in net income; public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. This ASU is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. This ASU permits early adoption of the instrument-specific credit risk provision. The Company is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU No. 2015-15, since 2015-03 did not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. The SEC staff indicated they would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments is permitted. The Company does not believe the adoption of this ASU will have a significant impact on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The ASU requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU, and all subsequently issued clarifying ASUs, will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The standard permits the use of either the retrospective or cumulative effect transition method. On July 9, 2015, the FASB approved the deferral of the effective date of ASU 2014-09 by one year. As a result, ASU 2014-09 will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The ASU would permit public entities to adopt the ASU early, but not before the original effective date (i.e., annual periods beginning after December 15, 2016). The Company has not yet selected a transition method and is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements. The Company does not believe there are any other recently issued accounting standards that have not yet been adopted that will have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule of cash dividends declared	Fiscal Year Date Declared Record Date Date Paid Amount of Dividend 2014 May 7, 2013 June 21, 2013 June 28, 2013 $ 0.12 August 13, 2013 September 20, 2013 September 27, 2013 0.12 $ 0.24
Schedule of property and equipment estimated useful lives	Automobiles 3 years Equipment 5 years Furniture and fixtures 7 years Leasehold improvements Lesser of lease term or useful life
Schedule of computation of basic and diluted earnings per share	Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2016 2015 2014 Numerator: Net income per consolidated statements of income $ 12,379 $ 16,856 $ 16,703 Less: Allocation of earnings to participating securities (170 ) — — Net income allocated to common stock 12,209 $ 16,856 $ 16,703 Basic earnings per share computation: Net income allocated to common stock $ 12,209 $ 16,856 $ 16,703 Weighted average common shares outstanding, including shares considered participating securities 7,727 12,013 12,096 Less: Weighted average participating securities outstanding (105 ) — — Weighted average shares of common stock 7,622 12,013 12,096 Basic earnings per share $ 1.60 1.40 1.38 Diluted earnings per share computation: Net income allocated to common stock $ 12,209 $ 16,856 $ 16,703 Undistributed earnings re-allocated to participating securities 2 — — Net income allocated to common stock $ 12,211 $ 16,856 $ 16,703 Weighted average common shares outstanding for basic earnings per share 7,622 12,013 12,096 Incremental shares from stock options 70 179 229 Weighted average shares and dilutive potential common shares 7,692 12,192 12,325 Diluted earnings per share $ 1.59 $ 1.38 $ 1.36

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of finance receivables	2016 (In thousands) 2015 2014 Indirect finance receivables, gross contract $ 487,118 $ 447,043 $ 413,612 Unearned interest (152,911 ) (136,896 ) (121,996 ) Indirect finance receivables, net of unearned interest 334,207 310,147 291,616 Unearned dealer discounts (18,023 ) (17,780 ) (17,214 ) Indirect finance receivables, net of unearned interest and unearned dealer discounts 316,184 292,367 274,402 Allowance for credit losses (12,265 ) (11,325 ) (12,889 ) Indirect finance receivables, net $ 303,919 $ 281,042 $ 261,513
Schedule of an assessment of the credit quality by creditworthiness	(In thousands) 2016 2015 Contracts Direct Loans Contracts Direct Loans Performing accounts $ 473,429 $ 10,899 $ 438,318 $ 10,855 Non-performing accounts 9,435 79 4,765 57 Total $ 482,864 $ 10,978 $ 443,083 $ 10,912 Chapter 13 bankruptcy accounts, net of unearned interest 4,254 34 3,960 20 Finance receivables, gross contract $ 487,118 $ 11,012 $ 447,043 $ 10,932
Schedule of information regarding delinquency rates	(In thousands) Contracts Gross Balance 31 – 60 days 61 – 90 days Over Total March 31, 2016 $ 482,864 $ 17,466 $ 6,069 $ 3,366 $ 26,901 3.61 % 1.26 % 0.70 % 5.57 % March 31, 2015 $ 443,083 $ 13,694 $ 3,435 $ 1,330 $ 18,459 3.09 % 0.78 % 0.30 % 4.17 % March 31, 2014 $ 410,532 $ 11,713 $ 2,944 $ 1,897 $ 16,554 2.85 % 0.72 % 0.46 % 4.03 % Direct Loans Gross Balance 31 – 60 days 61 – 90 days Over Total March 31, 2016 $ 10,978 $ 161 $ 41 $ 38 $ 240 1.47 % 0.37 % 0.35 % 2.19 % March 31, 2015 $ 10,912 $ 122 $ 42 $ 15 $ 179 1.12 % 0.38 % 0.14 % 1.64 % March 31, 2014 $ 10,705 $ 143 $ 25 $ 23 $ 191 1.34 % 0.23 % 0.21 % 1.78 %
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of reconciliation of the changes in the allowance for credit losses	2016 (In thousands) 2015 2014 Balance at beginning of year $ 11,325 $ 12,889 $ 16,091 Provision for credit losses 25,926 20,008 14,694 Losses absorbed (27,963 ) (25,042 ) (21,691 ) Recoveries 2,977 3,470 3,795 Balance at end of year $ 12,265 $ 11,325 $ 12,889
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of finance receivables	2016 (In thousands) 2015 2014 Direct finance receivables, gross contract $ 11,012 $ 10,932 $ 10,731 Unearned interest (2,346 ) (2,367 ) (2,311 ) Direct finance receivables, net of unearned interest 8,666 8,565 8,420 Allowance for credit losses (748 ) (703 ) (590 ) Direct finance receivables, net $ 7,918 $ 7,862 $ 7,830
Schedule of reconciliation of the changes in the allowance for credit losses	2016 (In thousands) Balance at beginning of year $ 703 $ 590 $ 468 Provision for credit losses 352 362 285 Losses absorbed (328 ) (277 ) (192 ) Recoveries 21 28 29 Balance at end of year $ 748 $ 703 $ 590

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	(In thousands) Cost Accumulated Net Book 2016 Automobiles $ 623 $ 413 $ 210 Equipment 1,473 664 809 Furniture and fixtures 512 408 104 Leasehold improvements 1,144 977 167 $ 3,752 $ 2,462 $ 1,290 2015 Automobiles $ 613 $ 365 $ 248 Equipment 906 516 390 Furniture and fixtures 486 391 95 Leasehold improvements 1,103 964 139 $ 3,108 $ 2,236 $ 872

Interest Rate Swap Agreements (

Interest Rate Swap Agreements (Tables)	12 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of locations and amounts of losses recognized in income	(In thousands) 2016 2015 Periodic change in fair value of interest rate swap agreements $ (24 ) $ (364 ) Periodic settlement differentials included in interest expense (343 ) (393 ) Loss recognized in income $ (367 ) $ (757 )
Schedule of variable rates received and average fixed rates paid under the swap agreements	2016 2015 Average variable rate received 0.26 % 0.16 % Average fixed rate paid 0.94 % 0.94 %

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities recorded at fair value on a recurring basis	Fair Value Measurement Using (In thousands) Description Level 1 Level 2 Level 3 Fair Interest rate swap agreements: March 31, 2016 – liability: $ 0 $ (205 ) $ 0 $ (205 ) March 31, 2015 – liability: $ — $ (181 ) $ — $ (181 )
Schedule of financial instruments not measured at fair value	Fair Value Measurement Using (In thousands) Description Level 1 Level 2 Level 3 Fair Value Carrying Value Cash: March 31, 2016 $ 1,849 $ 0 $ 0 $ 1,849 $ 1,849 March 31, 2015 $ 3,388 $ — $ — $ 3,388 $ 3,388 Finance receivables: March 31, 2016 $ 0 $ 0 $ 311,837 $ 311,837 $ 311,837 March 31, 2015 $ — $ — $ 288,904 $ 288,904 $ 288,904 Line of credit: March 31, 2016 $ 0 $ 211,000 $ 0 $ 211,000 $ 211,000 March 31, 2015 $ — $ 199,000 $ — $ 199,000 $ 199,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	(In thousands) 2016 2015 2014 Current: Federal $ 6,931 $ 7,688 $ 8,709 State 1,049 1,196 1,395 Total current 7,980 8,884 10,104 Deferred: Federal (221 ) 308 1,474 State (33 ) 48 236 Total deferred (254 ) 356 1,710 Income tax expense $ 7,726 $ 9,240 $ 11,814
Schedule of deferred tax assets and liabilities	(In thousands) 2016 2015 Allowance for credit losses not currently deductible for tax purposes $ 5,918 $ 5,552 Share-based compensation 491 514 Interest rate swap agreements 78 69 Other items 128 226 Deferred income taxes $ 6,615 $ 6,361
Schedule of provision for income taxes reflects an effective tax rate	(In thousands) 2016 2015 2014 Provision for income taxes at Federal statutory rate $ 7,037 $ 9,134 $ 9,981 Increase (decrease) resulting from: State income taxes, net of Federal benefit 660 809 1,059 Transaction costs 0 (734 ) 734 Other 29 31 40 Income tax expense $ 7,726 $ 9,240 $ 11,814

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Schedule of grant using the black scholes option-pricing model with weighted-average assumptions	2016 2015 Risk-free interest rate 1.58 % 1.68 % Weighted average expected original term 5 years 5 years Expected volatility 23 % 23 % Expected dividend yield 0.00 % 3.65 %
Schedule of option activity under the equity plans	(Shares in thousands) Options Shares Weighted Weighted Aggregate Outstanding at March 31, 2015 363 $ 9.86 Granted 10 $ 12.95 0 0 Exercised (13 ) $ 6.45 0 0 Forfeited (3 ) $ 10.07 0 0 Outstanding at March 31, 2016 357 $ 10.07 5.75 $ 725 Exercisable at March 31, 2016 198 $ 7.75 4.04 $ 725
Schedule of non-vested restricted shares under the 2006 plan	(Shares in thousands) Restricted Share Awards Shares Weighted Weighted Aggregate Non-vested at March 31, 2015 89 $ 13.56 Granted 38 $ 13.27 0 0 Vested (45 ) $ 12.93 0 0 Forfeited 0 $ 0 0 0 Non-vested at March 31, 2016 82 $ 13.78 1.75 $ 879

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments under operating lease	Fiscal Year Ending March 31 (In thousands) 2017 $ 2,101 2018 1,610 2019 1,164 2020 581 2021 79 $ 5,535

Quarterly Results of Operatio28

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Data [Abstract]
Schedule of quarterly results of operations	Fiscal Year ended March 31, 2016 (In thousands, except earnings per share amounts) First Second Third Fourth Total revenue $ 22,025 $ 22,687 $ 22,757 $ 23,238 Interest expense 2,166 2,273 2,311 2,257 Provision for credit losses 4,989 6,177 7,599 7,513 Non-interest expense 8,915 8,940 8,422 9,040 Operating income before income taxes 5,955 5,297 4,425 4,428 Income tax expense 2,285 2,041 1,698 1,702 Net income $ 3,670 $ 3,256 $ 2,727 $ 2,726 Earnings per share: Basic $ 0.48 $ 0.43 $ 0.36 $ 0.35 Diluted $ 0.47 $ 0.42 $ 0.35 $ 0.35 Fiscal Year ended March 31, 2015 (In thousands, except earnings per share amounts) First Second Third Fourth Total revenue $ 21,333 $ 21,723 $ 21,801 $ 21,933 Interest expense 1,449 1,485 1,458 1,578 Provision for credit losses 4,232 5,154 5,797 5,188 Non-interest expense 8,921 8,089 8,408 8,935 Operating income before income taxes 6,731 6,995 6,138 6,232 Income tax expense 1,822 2,665 2,369 2,384 Net income $ 4,909 $ 4,330 $ 3,769 $ 3,848 Earnings per share: Basic $ 0.40 $ 0.36 $ 0.31 $ 0.34 Diluted $ 0.40 $ 0.35 $ 0.30 $ 0.33

Organization and Basis of Pre29

Organization and Basis of Presentation (Detail Textuals) - Segment	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Sales of NDS to the Company's consolidated revenues		Less than 1%	Less than 1%
Number of reportable segments	1

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Mar. 31, 2014$ / shares
Dividends Payable [Line Items]
Amount of Dividend	$ 0.24
May 7, 2013
Dividends Payable [Line Items]
Amount of Dividend	$ 0.12
Date Declared	May 7, 2013
Record Date	Jun. 21, 2013
Date Paid	Jun. 28, 2013
August 13, 2013
Dividends Payable [Line Items]
Amount of Dividend	$ 0.12
Date Declared	Aug. 13, 2013
Record Date	Sep. 20, 2013
Date Paid	Sep. 27, 2013

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Summary of estimated useful lives of assets (Details 1)	12 Months Ended
	Mar. 31, 2016
Automobiles
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives	Lesser of lease term or useful life (generally 6 - 7 years)

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Basic and diluted earnings per share (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Net income per consolidated statements of income	$ 2,726	$ 2,727	$ 3,256	$ 3,670	$ 3,848	$ 3,769	$ 4,330	$ 4,909	$ 12,379	$ 16,856	$ 16,703
Less: Allocation of earnings to participating securities									(170)
Net income allocated to common stock									12,209	16,856	16,703
Basic earnings per share computation:
Net income allocated to common stock									$ 12,209	$ 16,856	$ 16,703
Weighted average common shares outstanding, including shares considered participating securities									7,727	12,013	12,096
Less: Weighted average participating securities outstanding									(105)
Weighted average common shares outstanding for basic earnings per share									7,622	12,013	12,096
Basic earnings per share (in dollars per share)	$ 0.35	$ 0.36	$ 0.43	$ 0.48	$ 0.34	$ 0.31	$ 0.36	$ 0.40	$ 1.60	$ 1.40	$ 1.38
Diluted earnings per share computation:
Net income allocated to common stock									$ 12,209	$ 16,856	$ 16,703
Undistributed earnings re-allocated to participating securities									2
Net income allocated to common stock									$ 12,211	$ 16,856	$ 16,703
Weighted average common shares outstanding for basic earnings per share									7,622	12,013	12,096
Incremental shares from stock options									70	179	229
Weighted average shares and dilutive potential common shares									7,692	12,192	12,325
Diluted earnings per share (in dollars per share)	$ 0.35	$ 0.35	$ 0.42	$ 0.47	$ 0.33	$ 0.30	$ 0.35	$ 0.40	$ 1.59	$ 1.38	$ 1.36

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Detail Textuals)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Withholding tax payable percentage	5.00%

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Detail Textuals 1) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 19, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 17, 2015
Significant Accounting Policies [Line Items]
Payment for common stock		$ 50	$ 70,409
Common shares outstanding		7,753	7,702
Tender Offer
Significant Accounting Policies [Line Items]
Purchase of common stock	4,700
Payment for common stock	$ 70,500
Percentage of aggregate number of common shares purchased				38.00%
Common shares outstanding	7,700

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Detail Textuals 2) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Unearned interest, dealer discounts and allowance for credit losses	$ 186.3	$ 169.1
Average dealer discount associated with new volume	7.51%	8.08%	8.44%
Cash paid for income taxes	$ 8.5	$ 7.3	$ 10.8
Cash paid for interest, including debt origination costs	$ 8.8	$ 6.1	$ 5.7

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Detail Textuals 3) - shares	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of stock options not included in the computation of diluted earnings per share	161,000	155,000	10,000

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Detail Textuals 4)	12 Months Ended
	Mar. 31, 2016StateBranch
Significant Accounting Policies [Line Items]
Number of states in which entity operates | State	18
Number of branches | Branch	67
Finance receivables
Significant Accounting Policies [Line Items]
Concentration benchmark	Of the remaining fourteen states, no one state represented more than 5% of the total finance receivables.
Finance receivables | Florida
Significant Accounting Policies [Line Items]
Concentration risk percentage	29.00%
Finance receivables | Ohio
Significant Accounting Policies [Line Items]
Concentration risk percentage	14.00%
Finance receivables | Georgia
Significant Accounting Policies [Line Items]
Concentration risk percentage	10.00%
Finance receivables | North Carolina
Significant Accounting Policies [Line Items]
Concentration risk percentage	8.00%

Finance Receivables - Summary o

Finance Receivables - Summary of contracts included in finance receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Indirect finance receivables, net	$ 311,837	$ 288,904
Finance receivables | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Indirect finance receivables, gross contract	487,118	447,043	$ 413,612
Unearned interest	(152,911)	(136,896)	(121,996)
Indirect finance receivables, net of unearned interest	334,207	310,147	291,616
Unearned dealer discounts	(18,023)	(17,780)	(17,214)
Indirect finance receivables, net of unearned interest and unearned dealer discounts	316,184	292,367	274,402
Allowance for credit losses	(12,265)	(11,325)	(12,889)	$ (16,091)
Indirect finance receivables, net	$ 303,919	$ 281,042	$ 261,513

Finance Receivables - Summary39

Finance Receivables - Summary of reconciliation of changes in allowance for credit losses on contracts (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for credit losses	$ 7,513	$ 7,599	$ 6,177	$ 4,989	$ 5,188	$ 5,797	$ 5,154	$ 4,232	$ 26,278	$ 20,371	$ 14,979
Finance receivables | Contracts
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year			$ 12,265				$ 11,325		11,325	12,889	16,091
Provision for credit losses									25,926	20,008	14,694
Losses absorbed									(27,963)	(25,042)	(21,691)
Recoveries									2,977	3,470	3,795
Balance at end of year				$ 12,265				$ 11,325	$ 12,265	$ 11,325	$ 12,889

Finance Receivables - Direct lo

Finance Receivables - Direct loans included in finance receivables (Details 2) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Indirect finance receivables, net	$ 311,837	$ 288,904
Finance receivables | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Direct finance receivables, gross contract	11,012	10,932	$ 10,731
Unearned interest	(2,346)	(2,367)	(2,311)
Indirect finance receivables, net of unearned interest	8,666	8,565	8,420
Allowance for credit losses	(748)	(703)	(590)	$ (468)
Indirect finance receivables, net	$ 7,918	$ 7,862	$ 7,830

Finance Receivables - Reconcili

Finance Receivables - Reconciliation of changes in allowance for credit losses on direct loans (Details 3) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for credit losses	$ 7,513	$ 7,599	$ 6,177	$ 4,989	$ 5,188	$ 5,797	$ 5,154	$ 4,232	$ 26,278	$ 20,371	$ 14,979
Finance receivables | Direct Loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year			$ 748				$ 703		703	590	468
Provision for credit losses									352	362	285
Losses absorbed									(328)	(277)	(192)
Recoveries									21	28	29
Balance at end of year				$ 748				$ 703	$ 748	$ 703	$ 590

Finance Receivables - Assessmen

Finance Receivables - Assessment of credit quality by creditworthiness (Details 4) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 482,864	$ 443,083	$ 410,532
Finance receivables, gross contract	487,118	447,043
Contracts | Performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	473,429	438,318
Contracts | Non-performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	9,435	4,765
Contracts | Chapter 13 bankrupt accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,254	3,960
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	10,978	10,912	$ 10,705
Finance receivables, gross contract	11,012	10,932
Direct Loans | Performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	10,899	10,855
Direct Loans | Non-performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	79	57
Direct Loans | Chapter 13 bankrupt accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 34	$ 20

Finance Receivables - Informati

Finance Receivables - Information regarding delinquency rates with respect to contracts and direct loans (Details 5) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Balance Outstanding	$ 482,864	$ 443,083	$ 410,532
31 - 60 days (in percentage)	3.61%	3.09%	2.85%
61 - 90 days (in percentage)	1.26%	0.78%	0.72%
Over 90 days (in percentage)	0.70%	0.30%	0.46%
Total	$ 26,901	$ 18,459	$ 16,554
Total (in percentage)	5.57%	4.17%	4.03%
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Balance Outstanding	$ 10,978	$ 10,912	$ 10,705
31 - 60 days (in percentage)	1.47%	1.12%	1.34%
61 - 90 days (in percentage)	0.37%	0.38%	0.23%
Over 90 days (in percentage)	0.35%	0.14%	0.21%
Total	$ 240	$ 179	$ 191
Total (in percentage)	2.19%	1.64%	1.78%
31 - 60 days | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 17,466	$ 13,694	$ 11,713
31 - 60 days | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	161	122	143
61 - 90 days | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	6,069	3,435	2,944
61 - 90 days | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	41	42	25
Over 90 days | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,366	1,330	1,897
Over 90 days | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 38	$ 15	$ 23

Finance Receivables (Detail Tex

Finance Receivables (Detail Textuals) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 311,837,000	$ 288,904,000
Finance receivables | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average contractual interest rate	22.67%	22.86%
Finance receivables, net	$ 303,919,000	$ 281,042,000	$ 261,513,000
Finance receivables | Contracts | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Initial term of the indirect finance receivables	12 months
Finance receivables | Contracts | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Initial term of the indirect finance receivables	72 months
Finance receivables | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average contractual interest rate	25.72%	26.14%
Finance receivables, net	$ 7,918,000	$ 7,862,000	$ 7,830,000
Percentage of direct loan to total loan portfolio	2.00%
Finance receivables | Direct Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Initial term of the direct finance receivables	12 months
Finance receivables, net	$ 1,000
Finance receivables | Direct Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Initial term of the direct finance receivables	60 months
Finance receivables, net	$ 9,000

Finance Receivables (Detail T45

Finance Receivables (Detail Textuals 2)	12 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Maximum criteria for receivable to be a performing account	61 days
Minimum criteria for receivable to be a non-performing account	61 days
Criteria for receivable to be delinquent account	120 days

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Property, Plant and Equipment [Line Items]
Cost	$ 3,752	$ 3,108
Accumulated Depreciation	2,462	2,236
Net Book Value	1,290	872
Automobiles
Property, Plant and Equipment [Line Items]
Cost	623	613
Accumulated Depreciation	413	365
Net Book Value	210	248
Equipment
Property, Plant and Equipment [Line Items]
Cost	1,473	906
Accumulated Depreciation	664	516
Net Book Value	809	390
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Cost	512	486
Accumulated Depreciation	408	391
Net Book Value	104	95
Leasehold improvements
Property, Plant and Equipment [Line Items]
Cost	1,144	1,103
Accumulated Depreciation	977	964
Net Book Value	$ 167	$ 139

Line of Credit (Detail Textuals

Line of Credit (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jan. 31, 2015	Mar. 31, 2014
Line of Credit Facility [Line Items]
Line of credit	$ 211,000	$ 199,000
Line of credit facility
Line of Credit Facility [Line Items]
Line of credit facility amount			$ 225,000	$ 150,000
Debt instrument basis spread on variable rate	3.00%
Debt instrument description of variable rate basis	1-month LIBOR
Floor on LIBOR rate	1.00%
Interest rate	4.00%	4.00%
Unused line fee	0.50%
Line of credit	$ 211,000	$ 199,000
Amount available under the line of credit	$ 14,000	$ 26,000

Interest Rate Swap Agreements -

Interest Rate Swap Agreements - Summary of locations and amounts of losses in income (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Periodic change in fair value of interest rate swap agreements	$ (24)	$ (364)	$ 688
Periodic settlement differentials included in interest expense	(343)	(393)
Loss recognized in income	$ (367)	$ (757)

Interest Rate Swap Agreements49

Interest Rate Swap Agreements - Summary of variable rates received and fixed rates paid under swap (Details 1) - Interest Rate Swap	2 Months Ended	5 Months Ended	12 Months Ended
	Jul. 30, 2012	Jun. 04, 2012	Mar. 31, 2016	Mar. 31, 2015
Derivative [Line Items]
Average variable rate received			0.26%	0.16%
Average fixed rate paid	0.87%	1.00%	0.94%	0.94%

Interest Rate Swap Agreements50

Interest Rate Swap Agreements (Detail Textuals) $ in Millions	2 Months Ended	5 Months Ended	12 Months Ended
	Jul. 30, 2012USD ($)	Jun. 04, 2012USD ($)	Mar. 31, 2016Swap	Mar. 31, 2015
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements | Swap			2
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Fixed rate paid	0.87%	1.00%	0.94%	0.94%
Interest rate swap period	5 years	5 years
Description of variable rate of the interest rate	1-month LIBOR	1-month LIBOR
Derivative notional amount | $	$ 25	$ 25

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and liabilities recorded at fair value on recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - liability	$ (205)	$ (181)
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - liability	0
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - liability	(205)	$ (181)
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - liability	0
Recurring Basis | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - liability	$ (205)	$ (181)

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of financial instruments not measured at fair value (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 1,849	$ 3,388
Finance receivables	0
Line of credit	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0
Finance receivables	0
Line of credit	211,000	$ 199,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0
Finance receivables	311,837	$ 288,904
Line of credit	0
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	1,849	$ 3,388
Finance receivables	311,837	288,904
Line of credit	211,000	199,000
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	1,849	3,388
Finance receivables	311,837	288,904
Line of credit	$ 211,000	$ 199,000

Fair Value Disclosures (Detail

Fair Value Disclosures (Detail Textuals) - Finance receivables	12 Months Ended
	Mar. 31, 2016
Contracts | Minimum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial term of finance receivables	12 months
Contracts | Maximum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial term of finance receivables	72 months
Direct Loans | Minimum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial term of finance receivables	12 months
Direct Loans | Maximum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial term of finance receivables	60 months

Income Taxes - Provision for in

Income Taxes - Provision for income taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Current:
Federal									$ 6,931	$ 7,688	$ 8,709
State									1,049	1,196	1,395
Total current									7,980	8,884	10,104
Deferred:
Federal									(221)	308	1,474
State									(33)	48	236
Total deferred									(292)	356	1,710
Income tax expense	$ 1,702	$ 1,698	$ 2,041	$ 2,285	$ 2,384	$ 2,369	$ 2,665	$ 1,822	$ 7,726	$ 9,240	$ 11,814

Income Taxes - Significant com

Income Taxes - Significant components of the company's deferred tax assets (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Allowance for credit losses not currently deductible for tax purposes	$ 5,918	$ 5,552
Share-based compensation	491	514
Interest rate swap agreements	78	69
Other items	128	226
Deferred income taxes	$ 6,615	$ 6,361

Income Taxes - Provision for 56

Income Taxes - Provision for income taxes reflects an effective U.S tax rate, which differs from the corporate tax rate (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Provision for income taxes at Federal statutory rate									$ 7,037	$ 9,134	$ 9,981
Increase (decrease) resulting from:
State income taxes, net of Federal benefit									660	809	1,059
Transaction costs									0	(734)	734
Other									29	31	40
Income tax expense	$ 1,702	$ 1,698	$ 2,041	$ 2,285	$ 2,384	$ 2,369	$ 2,665	$ 1,822	$ 7,726	$ 9,240	$ 11,814

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income tax rate	38.43%	35.41%	41.73%
Non-deductible expenses		$ 2.1	$ 2.1

Share-Based Payments - Summary

Share-Based Payments - Summary of weighted-average assumptions (Details) - Stock options	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.58%	1.68%
Weighted average expected original term	5 years	5 years
Expected volatility	23.00%	23.00%
Expected dividend yield	0.00%	3.65%

Share-Based Payments - Summar59

Share-Based Payments - Summary of option activity under the equity plans (Details 1) - Stock options $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Shares
Granted	10
Exercised	(13)
Forfeited	(3)
Weighted Average Exercise Price
Granted | $ / shares	$ 3.01
Equity plans
Shares
Outstanding at March 31, 2015	363
Granted	10
Exercised	(13)
Forfeited	(3)
Outstanding at March 31, 2016	357
Exercisable at March 31, 2016	198
Weighted Average Exercise Price
Outstanding at March 31, 2015 | $ / shares	$ 9.86
Granted | $ / shares	12.95
Exercised | $ / shares	6.45
Forfeited | $ / shares	10.07
Outstanding at March 31, 2016 | $ / shares	10.07
Exercisable at March 31, 2016 | $ / shares	$ 7.75
Weighted Average Remaining Contractual Term
Outstanding at March 31, 2016	5 years 9 months
Exercisable at March 31, 2016	4 years 15 days
Aggregate Intrinsic Value
Outstanding at March 31, 2016 | $	$ 725
Exercisable at March 31, 2016 | $	$ 725

Share-Based Payments - Summar60

Share-Based Payments - Summary of the status of the company's non-vested restricted shares (Details 2) - Restricted Share Awards $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Shares
Granted	38
Equity plan
Shares
Non-vested at March 31, 2015	89
Granted	38
Vested	(45)
Forfeited	0
Non-vested at March 31, 2016	82
Weighted Average Grant Date Fair Value
Non-vested at March 31, 2015 | $ / shares	$ 13.56
Granted | $ / shares	13.27
Vested | $ / shares	12.93
Forfeited | $ / shares	0
Non-vested at March 31, 2016 | $ / shares	$ 13.78
Weighted Average Remaining Contractual Term
Non-vested at March 31, 2016	1 year 9 months
Aggregate Intrinsic Value
Non-vested at March 31, 2016 | $	$ 879

Share-Based Payments (Detail Te

Share-Based Payments (Detail Textuals)	12 Months Ended
	Mar. 31, 2016USD ($)EquityPlan$ / sharesshares	Mar. 31, 2015USD ($)	Mar. 31, 2014USD ($)	Aug. 13, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | EquityPlan	2
Fair value pricing method	Black-Scholes option-pricing model
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted	10,000
Weighted average fair value of stock options granted | $ / shares	$ 3.01
Total intrinsic value of options exercised | $	$ 82,000	$ 1,829,000	$ 699,000
2006 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual terms of options granted	10 years
2006 Plan | Stock options | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to grant	1,100,000
Vesting period for stock awards	3 years
2006 Plan | Stock options | Employees and Non-Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock awards	5 years
2006 Plan | Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock awards	3 years
2015 Plan | Stock options | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to grant				750,000

Share-Based Payments (Detail 62

Share-Based Payments (Detail Textuals 1) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of option	$ 85,000	$ 389,000	$ 329,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options exercised	13
Number of stock options forfeited	3
Cash received from exercise of option	$ 85,000	389,000	329,000
Income tax benefits	31,000	$ 700,000	$ 267,000
Unrecognized compensation cost	$ 246,000
Weighted-average period expected to be recognized	2 years 7 months 6 days
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised	$ 1.20
Exercise price of stock options forfeited	3.60
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised	10.96
Exercise price of stock options forfeited	$ 10.96
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 643,000
Weighted-average period expected to be recognized	1 year 9 months
Number of shares awarded	38

Employee Benefit Plans (Detail

Employee Benefit Plans (Detail Textuals) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Employee Benefits and Share-Based Compensation [Abstract]
Retirement plan 401(k) recorded expenses	$ 7,000	$ 7,000	$ 7,000

Commitments and Contingencies -

Commitments and Contingencies - Summary of annual minimum rental payments (Details) $ in Thousands	Mar. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 2,101
2,018	1,610
2,019	1,164
2,020	581
2,021	79
Total	$ 5,535

Commitments and Contingencies65

Commitments and Contingencies (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 2.3	$ 2.1	$ 2

Quarterly Results of Operatio66

Quarterly Results of Operations (Unaudited) - Summary (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Quarterly Financial Data [Abstract]
Total revenue	$ 23,238	$ 22,757	$ 22,687	$ 22,025	$ 21,933	$ 21,801	$ 21,723	$ 21,333
Interest expense	2,257	2,311	2,273	2,166	1,578	1,458	1,485	1,449	$ 9,007	$ 5,970	$ 5,678
Provision for credit losses	7,513	7,599	6,177	4,989	5,188	5,797	5,154	4,232	26,278	20,371	14,979
Non-interest expense	9,040	8,422	8,940	8,915	8,935	8,408	8,089	8,921
Operating income before income taxes	4,428	4,425	5,297	5,955	6,232	6,138	6,995	6,731	20,105	26,096	28,517
Income tax expense	1,702	1,698	2,041	2,285	2,384	2,369	2,665	1,822	7,726	9,240	11,814
Net income	$ 2,726	$ 2,727	$ 3,256	$ 3,670	$ 3,848	$ 3,769	$ 4,330	$ 4,909	$ 12,379	$ 16,856	$ 16,703
Earnings per share:
Basic earnings per share (in dollars per share)	$ 0.35	$ 0.36	$ 0.43	$ 0.48	$ 0.34	$ 0.31	$ 0.36	$ 0.40	$ 1.60	$ 1.40	$ 1.38
Diluted earnings per share (in dollars per share)	$ 0.35	$ 0.35	$ 0.42	$ 0.47	$ 0.33	$ 0.30	$ 0.35	$ 0.40	$ 1.59	$ 1.38	$ 1.36