Old Market Capital (OMCC) 10-K 14 Jun 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2017	Jun. 06, 2017	Sep. 30, 2016
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			$ 77
Document Type	10-K
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016
Assets
Cash	$ 2,855	$ 1,849
Finance receivables, net	317,205	311,837
Assets held for resale	2,453	2,148
Prepaid expenses and other assets	674	977
Income taxes receivable	719	593
Property and equipment, net	1,184	1,290
Interest rate swap agreements	17
Deferred income taxes	8,505	6,615
Total assets	333,612	325,309
Liabilities and shareholders' equity
Line of credit	213,000	211,000
Drafts payable	1,851	1,499
Accounts payable and accrued expenses	5,932	5,839
Deferred revenues	3,969	3,917
Interest rate swap agreements		205
Total liabilities	224,752	222,460
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par: 5,000 shares authorized; none issued
Common stock, no par: 50,000 shares authorized; 12,524 and 12,466 shares issued respectively; 7,810 and 7,753 shares outstanding, respectively	33,889	33,287
Treasury stock: 4,714 common shares, at cost	(70,459)	(70,459)
Retained earnings	145,430	140,021
Total shareholders' equity	108,860	102,849
Total liabilities and shareholders' equity	$ 333,612	$ 325,309

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2017	Mar. 31, 2016
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	12,524	12,466
Common stock, shares outstanding	7,810	7,753
Treasury stock, shares	4,714	4,714

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Interest and fee income on finance receivables	$ 90,466	$ 90,707	$ 86,790
Expenses:
Marketing	1,440	1,497	1,562
Salaries and employee benefits	21,437	22,313	20,835
Administrative	12,180	11,025	11,226
Provision for credit losses	37,177	26,278	20,371
Depreciation	492	458	366
Interest expense	9,222	9,007	5,970
Change in fair value of interest rate swap agreements	(222)	24	364
Total operating expenses	81,726	70,602	60,694
Operating income before income taxes	8,740	20,105	26,096
Income tax expense	3,331	7,726	9,240
Net income	$ 5,409	$ 12,379	$ 16,856
Earnings per share:
Basic (in dollars per share)	$ 0.70	$ 1.60	$ 1.40
Diluted (in dollars per share)	$ 0.69	$ 1.59	$ 1.38

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, 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	$ 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	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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			5,409	5,409
Issuance of common stock under stock options	$ 50			50
Issuance of common stock under stock options (in shares)	9
Grants of restricted share awards, net of forfeitures (in shares)	48
Tax deficiency on share awards	$ (66)			(66)
Excess tax benefit on share awards	11			11
Share-based compensation	607			607
Balance at Mar. 31, 2017	$ 33,889	$ (70,459)	$ 145,430	$ 108,860
Balance (in shares) at Mar. 31, 2017	7,810

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 5,409	$ 12,379	$ 16,856
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	492	458	366
(Gain) loss on sale of property and equipment	(17)	(24)	6
Impairment loss on property and equipment	350
Provision for credit losses	37,177	26,278	20,371
Amortization of dealer discounts	(13,112)	(13,811)	(13,852)
Amortization of commission for products	(1,754)	(1,662)	(1,266)
Deferred income taxes	(1,956)	(292)	356
Share-based compensation	607	574	514
Change in fair value of interest rate swap agreements	(222)	24	364
Changes in operating assets and liabilities:
Prepaid expenses and other assets	328	192	66
Accounts payable and accrued expenses	93	(2,002)	(1,085)
Income taxes receivable/payable	(126)	(480)	981
Deferred revenues	52	774	815
Net cash provided by operating activities	27,321	22,408	24,492
Cash flows from investing activities:
Purchase and origination of finance contracts	(157,708)	(173,027)	(164,830)
Principal payments received including recoveries	130,029	139,289	140,018
Increase in assets held for resale	(305)	(401)	(51)
Purchase of property and equipment	(772)	(913)	(443)
Proceeds from sale of property and equipment	53	61	68
Net cash used in investing activities	(28,703)	(34,991)	(25,238)
Cash flows from financing activities:
Net proceeds from line of credit	2,000	12,000	71,100
Increase (decrease) in drafts payable	352	(977)	137
Payment of debt origination costs	(25)	(25)	(318)
Proceeds from exercise of share awards	50	85	389
Excess tax benefits of stock options	11	11	600
Purchase of common shares		(50)	(70,409)
Net cash provided by financing activities	2,388	11,044	1,499
Net increase (decrease) in cash	1,006	(1,539)	753
Cash, beginning of year	1,849	3,388	2,635
Cash, end of year	2,855	1,849	$ 3,388
Supplemental disclosure of noncash investing and financing activities:
Tax deficiency from share awards	$ (66)	$ (38)

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Mar. 31, 2017
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. 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, 2017
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. 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 NFI 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. Finance Receivables Finance receivables are recorded at cost, net of unearned interest, unearned dealer discounts (see “Revenue Recognition”) and the allowance for credit losses. The amount of unearned interest, dealer discounts and allowance for credit losses as of March 31, 2017 and March 31, 2016 are approximately $195.5 and $186.3 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 and are considered smaller-balance homogenous loans. The Company analyzes each consolidated static pool at specific points in time to estimate losses that are probable of being incurred as of the reporting date. It has maintained historical write-off write-off-to As of March 31, 2016, the Company refined the allowance for credit losses by changing it to a loan by loan analysis, which more closely depicts the amount of the allowance for credit losses needed to maintain an adequate reserve. As of March 31, 2017, the Company further refined the reserve for losses by increasing the allowance by 50% of the principal balance, with respect to accounts whose contractual delinquency falls into the range of 120-180 charge-off 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 (generally 6 -7 years) 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, 2017. 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 fiscal years before 2014. The Company does not believe there will be any material changes in its unrecognized tax positions over the next 12 months. There were no unrecognized tax positions as of March 31, 2017. 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 61 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, 2017, 2016, and 2015 was 7.08%, 7.51% and 8.08%, 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, involuntary unemployment insurance, and forced placed automobile insurance. These commissions are amortized over the life of the contract using the interest method. Earnings Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. Earnings per share is calculated using the two-class Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2017 2016 2015 Numerator: Net income per consolidated statements of income $ 5,409 $ 12,379 $ 16,856 Less: Allocation of earnings to participating securities (70 ) (170 ) — Net income allocated to common stock 5,339 12,209 $ 16,856 Basic earnings per share computation: Net income allocated to common stock $ 5,339 $ 12,209 $ 16,856 Weighted average common shares outstanding, including shares considered participating securities 7,766 7,727 12,013 Less: Weighted average participating securities outstanding (102 ) (105 ) — Weighted average shares of common stock 7,664 7,622 12,013 Basic earnings per share $ .70 $ 1.60 1.40 Diluted earnings per share computation: Net income allocated to common stock $ 5,339 $ 12,209 $ 16,856 Undistributed earnings re-allocated — 2 — Numerator for diluted earnings per share $ 5,339 $ 12,211 $ 16,856 Weighted average common shares outstanding for basic earnings per share 7,664 7,622 12,013 Incremental shares from stock options 62 70 179 Weighted average shares and dilutive potential common shares 7,726 7,692 12,192 Diluted earnings per share $ .69 $ 1.59 $ 1.38 Diluted earnings per share do not include the effect of certain stock options as their impact would be anti-dilutive. Approximately 161,000, 161,000, and 155,000 stock options were not included in the computation of diluted earnings per share for the years ended March 31, 2017, 2016 and 2015 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), net of estimated forfeitures. 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 two-year two-year 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), a 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, 2017, the Company operated in eighteen states through sixty-five branch locations. Florida represented 28% of the finance receivables total as of March 31, 2017. Ohio represented 13%, Georgia represented 10% and North Carolina represented 8% of the finance receivables total as of March 31, 2017. 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, 2017, 2016 and 2015 was approximately $5.4 million, $8.5 million and $7.3 million respectively. Cash paid for interest, including debt origination costs for the years ended March 31, 2017, 2016 and 2015 was approximately $9.1 million, $8.8 million and $6.1 million respectively. Reclassifications The Company made certain reclassifications to the 2016 and 2015 statements of cash flows. The amortization of deferred revenues decreased cash flows from operating activities by $1.7 million and $1.3 million for 2016 and 2015 respectively and correspondingly increased cash flows from investing activities. Net income and shareholders’ equity was not changed. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update (“ASU”) 2016-15 entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of the adoption of this ASU on the consolidated financial statements, and is in the process of analyzing its current presentation of the Consolidated Statements of Cash Flows. At this time, the Company does not believe ASU 2016-15 In June 2016, the FASB issued the ASU 2016-13 forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. The ASU also requires additional disclosures related to estimates and judgments used to measure all expected credit losses. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of the adoption of this ASU on the consolidated financial statements, and is collecting and analyzing data that will be needed to produce historical inputs into any models created as a result of adopting this ASU. At this time, we believe the adoption of this ASU will likely have a material adverse effect on our consolidated Financial statements. In March 2016, the FASB issued the ASU 2016-09, based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 beginning after December 15, 2016, including interim periods within those fiscal years. Early application is permitted. The Company continues to evaluate the impact of the adoption of this ASU on the consolidated financial statements and at this time does not believe there will be a material impact on the consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, 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 In January 2016, the FASB issued ASU No. 2016-01, 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. While the Company is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements, the Company does not believe it will have a material impact on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, 2014-09 2014-09 2014-09 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, 2017
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 charge-off Contracts included in finance receivables are detailed as follows as of fiscal years ended March 31: (In thousands) 2017 2016 2015 Indirect finance receivables, gross contract $ 502,050 $ 487,118 $ 447,043 Unearned interest (158,541 ) (152,911 ) (136,896 ) Indirect finance receivables, net of unearned interest 343,509 334,207 310,147 Unearned dealer discounts (17,004 ) (18,023 ) (17,780 ) Indirect finance receivables, net of unearned interest and unearned dealer discounts 326,505 316,184 292,367 Allowance for credit losses (16,885 ) (12,265 ) (11,325 ) Indirect finance receivables, net $ 309,620 $ 303,919 $ 281,042 The terms of the Contracts range from 12 to 72 months and bear a weighted average contractual interest rate of 22.37% and 22.67% as of March 31, 2017 and 2016, 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: (In thousands) 2017 2016 2015 Balance at beginning of year $ 12,265 $ 11,325 $ 12,889 Provision for credit losses 36,843 25,926 20,008 Losses absorbed (34,419 ) (27,963 ) (25,042 ) Recoveries 2,196 2,977 3,470 Balance at end of year $ 16,885 $ 12,265 $ 11,325 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, 2017, the average model year of vehicles collateralizing the portfolio was a 2009 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, competition, 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 loans originated directly between the Company and the consumer. Direct Loans are also included in finance receivables and are detailed as follows as of fiscal years ended March 31: (In thousands) 2017 2016 2015 Direct finance receivables, gross contract $ 10,670 $ 11,012 $ 10,932 Unearned interest (2,312 ) (2,346 ) (2,367 ) Direct finance receivables, net of unearned interest 8,358 8,666 8,565 Allowance for credit losses (773 ) (748 ) (703 ) Direct finance receivables, net $ 7,585 $ 7,918 $ 7,862 The terms of the Direct Loans range from 12 to 72 months and bear a weighted average contractual interest rate of 25.62% and 25.72% as of March 31, 2017 and 2016, 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: (In thousands) 2017 2016 2015 Balance at beginning of year $ 748 $ 703 $ 590 Provision for credit losses 334 352 362 Losses absorbed (338 ) (328 ) (277 ) Recoveries 29 21 28 Balance at end of year $ 773 $ 748 $ 703 Direct Loans are typically for amounts ranging from $1,000 to $11,000 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 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, 2017, 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. We define an automobile contract as delinquent when more than 25% of a payment contractually due by a certain date has not been paid by the immediately following due date, which date may have been extended within limits specified in the servicing agreements or as a result of a deferral. The period of delinquency is based on the number of days payments are contractually past due, as extended where applicable. In certain circumstances, we will grant obligors one-month A non-performing charge-off Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations 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) 2017 2016 Contracts Direct Contracts Direct Performing accounts $ 473,446 $ 10,406 $ 473,429 $ 10,899 Non-performing 24,585 222 9,435 79 Total $ 498,031 $ 10,628 $ 482,864 $ 10,978 Chapter 13 bankruptcy accounts, net of unearned interest 4,019 42 4,254 34 Finance receivables, gross contract $ 502,050 $ 10,670 $ 487,118 $ 11,012 The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans on a gross basis which includes unearned interest, excluding any Chapter 13 bankruptcy accounts: (In thousands) Contracts Gross Balance 31 – 61 – Over Total March 31, 2017 $ 498,031 $ 25,450 $ 12,388 $ 12,197 $ 50,035 5.11 % 2.49 % 2.45 % 10.05 % 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 % Direct Loans Gross Balance 31 – 61 – Over Total March 31, 2017 $ 10,628 $ 191 $ 67 $ 155 $ 413 1.80 % 0.63 % 1.46 % 3.89 % 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 %

Property and Equipment

Property and Equipment	12 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment as of March 31, 2017 and 2016 is summarized as follows: (In thousands) Cost Accumulated Net Book 2017 Automobiles $ 712 $ 459 $ 253 Equipment 1,476 851 625 Furniture and fixtures 546 427 119 Leasehold improvements 1,194 1,007 187 $ 3,928 $ 2,744 $ 1,184 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 During the first quarter of fiscal year 2017 the Company began the process of implementing a new loan operating system and capitalized approximately $350,000 related to the project. During the fiscal year, the Company concluded that the asset was not recoverable due to the project not progressing and the expectation that the costs incurred will not be recovered. As a result, during the fourth quarter, the Company recorded an impairment charge of $350,000 which is classified as administrative expenses in the consolidated statement of income.

Line of Credit

Line of Credit	12 Months Ended
	Mar. 31, 2017
Line Of Credit Facility [Abstract]
Line of Credit	5. Line of Credit The Company has a line of credit facility (the “Line”) up to $225.0 million, which matures on January 30, 2018. Prior to December 30, 2016 the pricing on the Line was 300 basis points above 30 day LIBOR with a 1% floor on LIBOR. Effective December 30, 2016, the Company executed an amendment to this existing Line which provided temporary adjustments to the calculation of availability and increased the pricing of the Line to 350 basis points above 30 day LIBOR while maintaining the 1% floor on LIBOR (4.50% at March 31, 2017 and 4.00% at March 31, 2016). The amendment provides for a temporary adjustment to the calculation of the availability under the credit facility effective as of December 30, 2016 and will be in place through June 30, 2017. In connection with such adjustment, an additional event of default was added to the credit facility that would be triggered if the sum of the percentages of accounts that were more than thirty days past due, accounts that were charged off, and the value of repossessed vehicles held as assets exceeds a specified monthly threshold. Pledged as collateral for this Line are all the assets of the Company. The facility requires compliance with certain financial ratios and covenants and satisfaction of specified financial tests, including maintenance of asset quality and performance tests. As of March 31, 2017, the Company was in compliance with all debt covenants. As disclosed in Note 3, the quality of the Company’s loan portfolio has been deteriorating, which has resulted in an increase in non-performing loans, increased delinquencies and other factors, which in turn has resulted in increased net charge-offs and an increase in the provision for credit losses. These conditions have resulted in a reduction in net earnings and have affected our borrowing capacity under the line of credit facility. The Company’s operating results over recent quarters provided indicators that the Company may not be able to continue to comply with certain of the required financial ratios, covenants and financial tests prior to the maturity date of the line of credit facility in the absence of an amendment to the corresponding credit agreement. Failure to meet any financial ratios, covenants or financial tests could result in an event of default under our line of credit facility. If an event of default occurs under the credit facility, our lenders could increase our borrowing costs, restrict our ability to obtain additional borrowings under the facility, accelerate all amounts outstanding under the facility, or enforce their interest against collateral pledged under the facility. The Company is in the process of providing information to the agent bank in the loan consortium, in the ordinary course of business as well as making changes in our policies and procedures which we believe will be successful in addressing some of the issues related to loan quality. We are also developing information pertaining to our expected borrowing needs, including proposed covenants, determination of lending levels and availability and other considerations to be submitted to the agent bank to assist in addressing the renewal of credit upon expiration of the Line in January 2018. The Company has a longstanding relationship with its lenders. While management believes that it will be able to obtain a renewal or extension of the credit facility, there are no assurances that the lenders will approve the renewal or extension, or, assuming that they will approve it, that the facility will not be on terms less favorable than the current agreement. In the event that the Company obtains information that the existing lenders do not intend to extend the relationship, the Company will seek alternative financing. The Company believes it is probable that it will be able to obtain financing from either its existing lenders or from other sources; however, it can provide no assurances that it will be successful in replacing the line of credit facility on reasonable terms or at all.

Interest Rate Swap Agreements

Interest Rate Swap Agreements	12 Months Ended
	Mar. 31, 2017
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, 2017 and 2016, 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 1-month The locations and amounts of gains (losses) recognized in income are detailed as follows for the fiscal years ended March 31: (In thousands) 2017 2016 Periodic change in fair value of interest rate swap agreements $ 222 $ (24 ) Periodic settlement differentials included in interest expense (179 ) (343 ) Gain (loss) recognized in income $ 43 $ (367 ) Net realized gains (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: 2017 2016 Average variable rate received 0.58 % 0.26 % Average fixed rate paid 0.94 % 0.94 %

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Mar. 31, 2017
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 Description Level 1 Level 2 Level 3 Fair Interest rate swap agreements: March 31, 2017 – asset: $ — $ 17 $ — $ 17 March 31, 2016 – liability: $ — $ (205 ) $ — $ (205 ) 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 72 months. 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, 2017 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 Description Level 1 Level 2 Level 3 Fair Carrying Cash: March 31, 2017 $ 2,855 $ — $ — $ 2,855 $ 2,855 March 31, 2016 $ 1,849 $ — $ — $ 1,849 $ 1,849 Finance receivables: March 31, 2017 $ — $ — $ 317,205 $ 317,205 $ 317,205 March 31, 2016 $ — $ — $ 311,837 $ 311,837 $ 311,837 Line of credit: March 31, 2017 $ — $ 213,000 $ — $ 213,000 $ 213,000 March 31, 2016 $ — $ 211,000 $ — $ 211,000 $ 211,000 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, 2017 and 2016.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2017
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) 2017 2016 2015 Current: Federal $ 4,563 $ 6,964 $ 7,688 State 724 1,054 1,196 Total current 5,287 8,018 8,884 Deferred: Federal (1,688 ) (254 ) 308 State (268 ) (38 ) 48 Total deferred (1,956 ) (292 ) 356 Income tax expense $ 3,331 $ 7,726 $ 9,240 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) 2017 2016 Allowance for credit losses not currently deductible for tax purposes $ 7,742 $ 5,918 Share-based compensation 487 491 Interest rate swap agreements (6 ) 78 Other items 282 128 Deferred income taxes $ 8,505 $ 6,615 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) 2017 2016 2015 Provision for income taxes at Federal statutory rate $ 3,059 $ 7,037 $ 9,134 Increase (decrease) resulting from: State income taxes, net of Federal benefit 297 660 809 Transaction costs — — (734 ) Other (25 ) 29 31 Income tax expense $ 3,331 $ 7,726 $ 9,240 The Company’s effective tax rate decreased to 38.11% in fiscal 2017 from 38.43% in fiscal 2016. The effective rate was 35.41% in fiscal 2015. The Company had approximately $2.1 million of previously non-deductible

Share-Based Payments

Share-Based Payments	12 Months Ended
	Mar. 31, 2017
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 generally 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 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. Vesting of performance units generally does not commence until 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 its obligations under the Equity Plans. Cash dividends, if any, are not paid on unvested performance units 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, 2017. A summary of option activity under the Equity Plans as of March 31, 2017, and changes during the year are presented below. (Shares and Aggregate Intrinsic Value in thousands) Options Shares Weighted Weighted Aggregate Outstanding at March 31, 2016 357 $ 10.07 Granted — $ — Exercised (9 ) $ 5.76 Forfeited (15 ) $ 12.36 Outstanding at March 31, 2017 333 $ 10.08 4.75 $ 663 Exercisable at March 31, 2017 244 $ 8.78 3.79 $ 663 The Company did not grant options during the year ended March 31, 2017. The total intrinsic value of options exercised during the years ended March 31, 2017, 2016 and 2015 was approximately $46,500, $82,000, and $1,829,000 respectively. During the fiscal year ended March 31, 2017, approximately 9,000 options were exercised at exercise prices ranging from $1.20 to $8.21 per share. During the same period, approximately 15,000 options were forfeited at exercise prices ranging from $11.44 to $12.97 per share. Cash received from options exercised during the fiscal years ended March 31, 2017, 2016 and 2015 totaled approximately $50,000, $85,000, and $389,000, respectively. As of March 31, 2017, there was approximately $137,500 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 (Shares and Aggregate Intrinsic Value in thousands) Restricted Share Awards Shares Weighted Weighted Aggregate Non-vested 82 $ 13.78 Granted 48 $ 10.78 Vested (40 ) $ 14.37 Forfeited — $ — Non-vested 90 $ 11.95 1.83 $ 952 The Company awarded approximately 48,000 restricted shares during the fiscal year ended March 31, 2017. The Company granted performance units which, if the employees had reached the maximum performance level, would have awarded approximately 18,000 restricted share awards. Included within the 48,000 restricted shares granted are approximately 10,000 shares that resulted from the Company meeting a performance threshold, which is noted in the Executive Compensation Plan. During the same period, no restricted shares were forfeited. As of March 31, 2017, there was approximately $645,000 of total unrecognized compensation cost related to non-vested

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Mar. 31, 2017
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

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2017
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) 2018 $ 2,023 2019 1,557 2020 756 2021 75 $ 4,411 Rent expense for the fiscal years ended March 31, 2017, 2016, and 2015 was approximately $2.4, $2.3, and $2.1 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, 2017
Quarterly Financial Data [Abstract]
Quarterly Results of Operations (Unaudited)	12. Quarterly Results of Operations (Unaudited) Fiscal Year ended March 31, 2017 First Second Third Fourth Total revenue $ 22,915 $ 22,647 $ 22,044 $ 22,860 Interest expense 2,244 2,243 2,258 2,477 Provision for credit losses 7,026 8,144 8,796 13,211 Non-interest 8,939 9,102 8,403 8,883 Operating income before income taxes 4,706 3,158 2,587 (1,711 ) Income tax expense 1,803 1,188 981 (641 ) Net income $ 2,903 $ 1,970 $ 1,606 $ (1,070 ) Earnings per share: Basic $ 0.37 $ 0.25 $ 0.21 $ (0.14 ) Diluted $ 0.37 $ 0.25 $ 0.21 $ (0.14 ) Fiscal Year ended March 31, 2016 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 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

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2017
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.
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 NFI 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.
Finance Receivables	Finance Receivables Finance receivables are recorded at cost, net of unearned interest, unearned dealer discounts (see “Revenue Recognition”) and the allowance for credit losses. The amount of unearned interest, dealer discounts and allowance for credit losses as of March 31, 2017 and March 31, 2016 are approximately $195.5 and $186.3 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 and are considered smaller-balance homogenous loans. The Company analyzes each consolidated static pool at specific points in time to estimate losses that are probable of being incurred as of the reporting date. It has maintained historical write-off write-off-to As of March 31, 2016, the Company refined the allowance for credit losses by changing it to a loan by loan analysis, which more closely depicts the amount of the allowance for credit losses needed to maintain an adequate reserve. As of March 31, 2017, the Company further refined the reserve for losses by increasing the allowance by 50% of the principal balance, with respect to accounts whose contractual delinquency falls into the range of 120-180 charge-off 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 (generally 6 -7 years)
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, 2017. 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 fiscal years before 2014. The Company does not believe there will be any material changes in its unrecognized tax positions over the next 12 months. There were no unrecognized tax positions as of March 31, 2017.
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 61 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, 2017, 2016, and 2015 was 7.08%, 7.51% and 8.08%, 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, involuntary unemployment insurance, and forced placed automobile insurance. These commissions are amortized over the life of the contract 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. Earnings per share is calculated using the two-class Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2017 2016 2015 Numerator: Net income per consolidated statements of income $ 5,409 $ 12,379 $ 16,856 Less: Allocation of earnings to participating securities (70 ) (170 ) — Net income allocated to common stock 5,339 12,209 $ 16,856 Basic earnings per share computation: Net income allocated to common stock $ 5,339 $ 12,209 $ 16,856 Weighted average common shares outstanding, including shares considered participating securities 7,766 7,727 12,013 Less: Weighted average participating securities outstanding (102 ) (105 ) — Weighted average shares of common stock 7,664 7,622 12,013 Basic earnings per share $ .70 $ 1.60 1.40 Diluted earnings per share computation: Net income allocated to common stock $ 5,339 $ 12,209 $ 16,856 Undistributed earnings re-allocated — 2 — Numerator for diluted earnings per share $ 5,339 $ 12,211 $ 16,856 Weighted average common shares outstanding for basic earnings per share 7,664 7,622 12,013 Incremental shares from stock options 62 70 179 Weighted average shares and dilutive potential common shares 7,726 7,692 12,192 Diluted earnings per share $ .69 $ 1.59 $ 1.38 Diluted earnings per share do not include the effect of certain stock options as their impact would be anti-dilutive. Approximately 161,000, 161,000, and 155,000 stock options were not included in the computation of diluted earnings per share for the years ended March 31, 2017, 2016 and 2015 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), net of estimated forfeitures. 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 two-year two-year 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), a 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, 2017, the Company operated in eighteen states through sixty-five branch locations. Florida represented 28% of the finance receivables total as of March 31, 2017. Ohio represented 13%, Georgia represented 10% and North Carolina represented 8% of the finance receivables total as of March 31, 2017. 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, 2017, 2016 and 2015 was approximately $5.4 million, $8.5 million and $7.3 million respectively. Cash paid for interest, including debt origination costs for the years ended March 31, 2017, 2016 and 2015 was approximately $9.1 million, $8.8 million and $6.1 million respectively.
Reclassifications	Reclassifications The Company made certain reclassifications to the 2016 and 2015 statements of cash flows. The amortization of deferred revenues decreased cash flows from operating activities by $1.7 million and $1.3 million for 2016 and 2015 respectively and correspondingly increased cash flows from investing activities. Net income and shareholders’ equity was not changed.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update (“ASU”) 2016-15 2016-15 In June 2016, the FASB issued the ASU 2016-13 forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. The ASU also requires additional disclosures related to estimates and judgments used to measure all expected credit losses. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of the adoption of this ASU on the consolidated financial statements, and is collecting and analyzing data that will be needed to produce historical inputs into any models created as a result of adopting this ASU. At this time, we believe the adoption of this ASU will likely have a material adverse effect on our consolidated Financial statements. In March 2016, the FASB issued the ASU 2016-09, based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 beginning after December 15, 2016, including interim periods within those fiscal years. Early application is permitted. The Company continues to evaluate the impact of the adoption of this ASU on the consolidated financial statements and at this time does not believe there will be a material impact on the consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, 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 In January 2016, the FASB issued ASU No. 2016-01, 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. While the Company is currently evaluating the impact of the pending adoption of this ASU on the Company’s consolidated financial statements, the Company does not believe it will have a material impact on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, 2014-09 2014-09 2014-09 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, 2017
Accounting Policies [Abstract]
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 (generally 6 -7 years)
Schedule of computation of basic and diluted earnings per share	Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2017 2016 2015 Numerator: Net income per consolidated statements of income $ 5,409 $ 12,379 $ 16,856 Less: Allocation of earnings to participating securities (70 ) (170 ) — Net income allocated to common stock 5,339 12,209 $ 16,856 Basic earnings per share computation: Net income allocated to common stock $ 5,339 $ 12,209 $ 16,856 Weighted average common shares outstanding, including shares considered participating securities 7,766 7,727 12,013 Less: Weighted average participating securities outstanding (102 ) (105 ) — Weighted average shares of common stock 7,664 7,622 12,013 Basic earnings per share $ .70 $ 1.60 1.40 Diluted earnings per share computation: Net income allocated to common stock $ 5,339 $ 12,209 $ 16,856 Undistributed earnings re-allocated — 2 — Numerator for diluted earnings per share $ 5,339 $ 12,211 $ 16,856 Weighted average common shares outstanding for basic earnings per share 7,664 7,622 12,013 Incremental shares from stock options 62 70 179 Weighted average shares and dilutive potential common shares 7,726 7,692 12,192 Diluted earnings per share $ .69 $ 1.59 $ 1.38

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of an assessment of the credit quality by creditworthiness	(In thousands) 2017 2016 Contracts Direct Contracts Direct Performing accounts $ 473,446 $ 10,406 $ 473,429 $ 10,899 Non-performing 24,585 222 9,435 79 Total $ 498,031 $ 10,628 $ 482,864 $ 10,978 Chapter 13 bankruptcy accounts, net of unearned interest 4,019 42 4,254 34 Finance receivables, gross contract $ 502,050 $ 10,670 $ 487,118 $ 11,012
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of finance receivables	(In thousands) 2017 2016 2015 Indirect finance receivables, gross contract $ 502,050 $ 487,118 $ 447,043 Unearned interest (158,541 ) (152,911 ) (136,896 ) Indirect finance receivables, net of unearned interest 343,509 334,207 310,147 Unearned dealer discounts (17,004 ) (18,023 ) (17,780 ) Indirect finance receivables, net of unearned interest and unearned dealer discounts 326,505 316,184 292,367 Allowance for credit losses (16,885 ) (12,265 ) (11,325 ) Indirect finance receivables, net $ 309,620 $ 303,919 $ 281,042
Schedule of reconciliation of the changes in the allowance for credit losses	(In thousands) 2017 2016 2015 Balance at beginning of year $ 12,265 $ 11,325 $ 12,889 Provision for credit losses 36,843 25,926 20,008 Losses absorbed (34,419 ) (27,963 ) (25,042 ) Recoveries 2,196 2,977 3,470 Balance at end of year $ 16,885 $ 12,265 $ 11,325
Schedule of information regarding delinquency rates	(In thousands) Contracts Gross Balance 31 – 61 – Over Total March 31, 2017 $ 498,031 $ 25,450 $ 12,388 $ 12,197 $ 50,035 5.11 % 2.49 % 2.45 % 10.05 % 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 %
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of finance receivables	(In thousands) 2017 2016 2015 Direct finance receivables, gross contract $ 10,670 $ 11,012 $ 10,932 Unearned interest (2,312 ) (2,346 ) (2,367 ) Direct finance receivables, net of unearned interest 8,358 8,666 8,565 Allowance for credit losses (773 ) (748 ) (703 ) Direct finance receivables, net $ 7,585 $ 7,918 $ 7,862
Schedule of reconciliation of the changes in the allowance for credit losses	(In thousands) 2017 2016 2015 Balance at beginning of year $ 748 $ 703 $ 590 Provision for credit losses 334 352 362 Losses absorbed (338 ) (328 ) (277 ) Recoveries 29 21 28 Balance at end of year $ 773 $ 748 $ 703
Schedule of information regarding delinquency rates	Direct Loans Gross Balance 31 – 61 – Over Total March 31, 2017 $ 10,628 $ 191 $ 67 $ 155 $ 413 1.80 % 0.63 % 1.46 % 3.89 % 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 %

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	(In thousands) Cost Accumulated Net Book 2017 Automobiles $ 712 $ 459 $ 253 Equipment 1,476 851 625 Furniture and fixtures 546 427 119 Leasehold improvements 1,194 1,007 187 $ 3,928 $ 2,744 $ 1,184 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

Interest Rate Swap Agreements (

Interest Rate Swap Agreements (Tables)	12 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of locations and amounts of losses recognized in income	(In thousands) 2017 2016 Periodic change in fair value of interest rate swap agreements $ 222 $ (24 ) Periodic settlement differentials included in interest expense (179 ) (343 ) Gain (loss) recognized in income $ 43 $ (367 )
Schedule of variable rates received and average fixed rates paid under the swap agreements	2017 2016 Average variable rate received 0.58 % 0.26 % Average fixed rate paid 0.94 % 0.94 %

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities recorded at fair value on a recurring basis	Fair Value Measurement Using Description Level 1 Level 2 Level 3 Fair Interest rate swap agreements: March 31, 2017 – asset: $ — $ 17 $ — $ 17 March 31, 2016 – liability: $ — $ (205 ) $ — $ (205 )
Schedule of financial instruments not measured at fair value	Fair Value Measurement Using Description Level 1 Level 2 Level 3 Fair Carrying Cash: March 31, 2017 $ 2,855 $ — $ — $ 2,855 $ 2,855 March 31, 2016 $ 1,849 $ — $ — $ 1,849 $ 1,849 Finance receivables: March 31, 2017 $ — $ — $ 317,205 $ 317,205 $ 317,205 March 31, 2016 $ — $ — $ 311,837 $ 311,837 $ 311,837 Line of credit: March 31, 2017 $ — $ 213,000 $ — $ 213,000 $ 213,000 March 31, 2016 $ — $ 211,000 $ — $ 211,000 $ 211,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	(In thousands) 2017 2016 2015 Current: Federal $ 4,563 $ 6,964 $ 7,688 State 724 1,054 1,196 Total current 5,287 8,018 8,884 Deferred: Federal (1,688 ) (254 ) 308 State (268 ) (38 ) 48 Total deferred (1,956 ) (292 ) 356 Income tax expense $ 3,331 $ 7,726 $ 9,240
Schedule of deferred tax assets and liabilities	(In thousands) 2017 2016 Allowance for credit losses not currently deductible for tax purposes $ 7,742 $ 5,918 Share-based compensation 487 491 Interest rate swap agreements (6 ) 78 Other items 282 128 Deferred income taxes $ 8,505 $ 6,615
Schedule of provision for income taxes reflects an effective tax rate	(In thousands) 2017 2016 2015 Provision for income taxes at Federal statutory rate $ 3,059 $ 7,037 $ 9,134 Increase (decrease) resulting from: State income taxes, net of Federal benefit 297 660 809 Transaction costs — — (734 ) Other (25 ) 29 31 Income tax expense $ 3,331 $ 7,726 $ 9,240

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Mar. 31, 2017
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 and Aggregate Intrinsic Value in thousands) Options Shares Weighted Weighted Aggregate Outstanding at March 31, 2016 357 $ 10.07 Granted — $ — Exercised (9 ) $ 5.76 Forfeited (15 ) $ 12.36 Outstanding at March 31, 2017 333 $ 10.08 4.75 $ 663 Exercisable at March 31, 2017 244 $ 8.78 3.79 $ 663
Schedule of non-vested restricted shares under the 2006 plan	(Shares and Aggregate Intrinsic Value in thousands) Restricted Share Awards Shares Weighted Weighted Aggregate Non-vested 82 $ 13.78 Granted 48 $ 10.78 Vested (40 ) $ 14.37 Forfeited — $ — Non-vested 90 $ 11.95 1.83 $ 952

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments under operating lease	Fiscal Year Ending March 31 (In thousands) 2018 $ 2,023 2019 1,557 2020 756 2021 75 $ 4,411

Quarterly Results of Operatio28

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2017
Quarterly Financial Data [Abstract]
Schedule of quarterly results of operations	Fiscal Year ended March 31, 2017 First Second Third Fourth Total revenue $ 22,915 $ 22,647 $ 22,044 $ 22,860 Interest expense 2,244 2,243 2,258 2,477 Provision for credit losses 7,026 8,144 8,796 13,211 Non-interest 8,939 9,102 8,403 8,883 Operating income before income taxes 4,706 3,158 2,587 (1,711 ) Income tax expense 1,803 1,188 981 (641 ) Net income $ 2,903 $ 1,970 $ 1,606 $ (1,070 ) Earnings per share: Basic $ 0.37 $ 0.25 $ 0.21 $ (0.14 ) Diluted $ 0.37 $ 0.25 $ 0.21 $ (0.14 ) Fiscal Year ended March 31, 2016 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 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

Organization and Basis of Pre29

Organization and Basis of Presentation (Detail Textuals)	12 Months Ended
	Mar. 31, 2017Segment
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Number of reportable segments	1

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Summary of estimated useful lives of assets (Details)	12 Months Ended
	Mar. 31, 2017
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 Accoun31

Summary of Significant Accounting Policies - Basic and diluted earnings per share (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income per consolidated statements of income	$ (1,070)	$ 1,606	$ 1,970	$ 2,903	$ 2,726	$ 2,727	$ 3,256	$ 3,670	$ 5,409	$ 12,379	$ 16,856
Less: Allocation of earnings to participating securities									(70)	(170)
Net income allocated to common stock									5,339	12,209	16,856
Basic earnings per share computation:
Net income allocated to common stock									$ 5,339	$ 12,209	$ 16,856
Weighted average common shares outstanding, including shares considered participating securities									7,766	7,727	12,013
Less: Weighted average participating securities outstanding									(102)	(105)
Weighted average shares of common stock									7,664	7,622	12,013
Basic earnings per share (in dollars per share)	$ (0.14)	$ 0.21	$ 0.25	$ 0.37	$ 0.35	$ 0.36	$ 0.43	$ 0.48	$ 0.70	$ 1.60	$ 1.40
Diluted earnings per share computation:
Net income allocated to common stock									$ 5,339	$ 12,209	$ 16,856
Undistributed earnings re-allocated to participating securities										2
Numerator for diluted earnings per share									$ 5,339	$ 12,211	$ 16,856
Weighted average common shares outstanding for basic earnings per share									7,664	7,622	12,013
Incremental shares from stock options									62	70	179
Weighted average shares and dilutive potential common shares									7,726	7,692	12,192
Diluted earnings per share (in dollars per share)	$ (0.14)	$ 0.21	$ 0.25	$ 0.37	$ 0.35	$ 0.35	$ 0.42	$ 0.47	$ 0.69	$ 1.59	$ 1.38

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Detail Textuals) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 19, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2017	Mar. 17, 2015
Significant Accounting Policies [Line Items]
Payment for common stock		$ 50	$ 70,409
Common shares outstanding		7,753		7,810
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 Accoun33

Summary of Significant Accounting Policies (Detail Textuals 1) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Unearned interest, dealer discounts and allowance for credit losses	$ 195,500	$ 186,300	$ 195,500	$ 186,300
Period for maintaining historical write off information with respect to static pool			10 years
Percentage of liquidation level assist in determining allowance for credit losses			20.00%
Percentage of liquidation level assist in determining allowance for credit losses			40.00%
Percentage of liquidation level assist in determining allowance for credit losses			60.00%
Percentage of liquidation level assist in determining allowance for credit losses			80.00%
Percentage of liquidation level assist in determining allowance for credit losses			100.00%
Percentage of allowances increased of principal amount			50.00%
Average dealer discount associated with new volume			7.08%	7.51%	8.08%
Cash paid for income taxes			$ 5,400	$ 8,500	$ 7,300
Cash paid for interest, including debt origination costs			9,100	8,800	6,100
Amortization of commission for products	$ (1,754)	$ (1,662)	$ (1,754)	$ (1,662)	$ (1,266)

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Detail Textuals 2) - shares	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
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	161,000	155,000

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Detail Textuals 3)	12 Months Ended
	Mar. 31, 2017StateSwap
Significant Accounting Policies [Line Items]
Number of states in which entity operates | State	18
Number of branches | Swap	65
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	28.00%
Finance receivables | Ohio
Significant Accounting Policies [Line Items]
Concentration risk percentage	13.00%
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, 2017	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Indirect finance receivables, net	$ 317,205	$ 311,837
Finance receivables | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Indirect finance receivables, gross contract	502,050	487,118	$ 447,043
Unearned interest	(158,541)	(152,911)	(136,896)
Indirect finance receivables, net of unearned interest	343,509	334,207	310,147
Unearned dealer discounts	(17,004)	(18,023)	(17,780)
Indirect finance receivables, net of unearned interest and unearned dealer discounts	326,505	316,184	292,367
Allowance for credit losses	(16,885)	(12,265)	(11,325)	$ (12,889)
Indirect finance receivables, net	$ 309,620	$ 303,919	$ 281,042

Finance Receivables - Summary37

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
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for credit losses	$ 13,211	$ 8,796	$ 8,144	$ 7,026	$ 7,513	$ 7,599	$ 6,177	$ 4,989	$ 37,177	$ 26,278	$ 20,371
Finance receivables | Contracts
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year				$ 12,265				$ 11,325	12,265	11,325	12,889
Provision for credit losses									36,843	25,926	20,008
Losses absorbed									(34,419)	(27,963)	(25,042)
Recoveries									2,196	2,977	3,470
Balance at end of year	$ 16,885				$ 12,265				$ 16,885	$ 12,265	$ 11,325

Finance Receivables - Direct lo

Finance Receivables - Direct loans included in finance receivables (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Direct finance receivables, net	$ 317,205	$ 311,837
Finance receivables | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Direct finance receivables, gross contract	10,670	11,012	$ 10,932
Unearned interest	(2,312)	(2,346)	(2,367)
Direct finance receivables, net of unearned interest	8,358	8,666	8,565
Allowance for credit losses	(773)	(748)	(703)	$ (590)
Direct finance receivables, net	$ 7,585	$ 7,918	$ 7,862

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
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for credit losses	$ 13,211	$ 8,796	$ 8,144	$ 7,026	$ 7,513	$ 7,599	$ 6,177	$ 4,989	$ 37,177	$ 26,278	$ 20,371
Finance receivables | Direct Loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year				$ 748				$ 703	748	703	590
Provision for credit losses									334	352	362
Losses absorbed									(338)	(328)	(277)
Recoveries									29	21	28
Balance at end of year	$ 773				$ 748				$ 773	$ 748	$ 703

Finance Receivables - Assessmen

Finance Receivables - Assessment of credit quality by creditworthiness (Details 4) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 498,031	$ 482,864	$ 443,083
Finance receivables, gross contract	502,050	487,118
Contracts | Performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	473,446	473,429
Contracts | Non-performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	24,585	9,435
Contracts | Chapter 13 bankrupt accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, gross contract	4,019	4,254
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	10,628	10,978	$ 10,912
Finance receivables, gross contract	10,670	11,012
Direct Loans | Performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	10,406	10,899
Direct Loans | Non-performing accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	222	79
Direct Loans | Chapter 13 bankrupt accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, gross contract	$ 42	$ 34

Finance Receivables - Informati

Finance Receivables - Information regarding delinquency rates with respect to contracts and direct loans (Details 5) - Finance receivables - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Balance Outstanding	$ 498,031	$ 482,864	$ 443,083
Total	$ 50,035	$ 26,901	$ 18,459
Total (in percentage)	10.05%	5.57%	4.17%
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Balance Outstanding	$ 10,628	$ 10,978	$ 10,912
Total	$ 413	$ 240	$ 179
Total (in percentage)	3.89%	2.19%	1.64%
31 - 60 days | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 25,450	$ 17,466	$ 13,694
Total (in percentage)	5.11%	3.61%	3.09%
31 - 60 days | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 191	$ 161	$ 122
Total (in percentage)	1.80%	1.47%	1.12%
61 - 90 days | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 12,388	$ 6,069	$ 3,435
Total (in percentage)	2.49%	1.26%	0.78%
61 - 90 days | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 67	$ 41	$ 42
Total (in percentage)	0.63%	0.37%	0.38%
Over 90 days | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 12,197	$ 3,366	$ 1,330
Total (in percentage)	2.45%	0.70%	0.30%
Over 90 days | Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 155	$ 38	$ 15
Total (in percentage)	1.46%	0.35%	0.14%

Finance Receivables (Detail Tex

Finance Receivables (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 317,205	$ 311,837
Finance receivables | Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average contractual interest rate	22.37%	22.67%
Finance receivables, net	$ 309,620	$ 303,919	$ 281,042
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	25.62%	25.72%
Finance receivables, net	$ 7,585	$ 7,918	$ 7,862
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
Finance receivables | Direct Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Initial term of the direct finance receivables	72 months
Finance receivables, net	$ 11

Finance Receivables (Detail T43

Finance Receivables (Detail Textuals 2)	12 Months Ended
	Mar. 31, 2017
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
Percentage of payment contractually for delinquent	25.00%
Criteria for receivable to be delinquent account	180 days

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Cost	$ 3,928	$ 3,752
Accumulated Depreciation	2,744	2,462
Net Book Value	1,184	1,290
Automobiles
Property, Plant and Equipment [Line Items]
Cost	712	623
Accumulated Depreciation	459	413
Net Book Value	253	210
Equipment
Property, Plant and Equipment [Line Items]
Cost	1,476	1,473
Accumulated Depreciation	851	664
Net Book Value	625	809
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Cost	546	512
Accumulated Depreciation	427	408
Net Book Value	119	104
Leasehold improvements
Property, Plant and Equipment [Line Items]
Cost	1,194	1,144
Accumulated Depreciation	1,007	977
Net Book Value	$ 187	$ 167

Property and Equipment (Details

Property and Equipment (Details Textuals) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2016	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Amount of capitalized new loan operating system	$ 350,000
Impairment charge		$ 350,000

Line of Credit (Detail Textuals

Line of Credit (Detail Textuals) - Line of credit facility - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Dec. 29, 2016	Mar. 31, 2017	Mar. 31, 2016
Line of Credit Facility [Line Items]
Line of credit facility amount		$ 225
Debt Instrument, Basis Spread on Variable Rate	3.00%	3.50%
Debt instrument description of variable rate basis	30 day LIBOR	30 day LIBOR
Line of credit facility, floor rate	1.00%	1.00%
Interest rate		4.50%	4.00%

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, 2017	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Periodic change in fair value of interest rate swap agreements	$ 222	$ (24)	$ (364)
Periodic settlement differentials included in interest expense	(179)	(343)
Gain (loss) recognized in income	$ 43	$ (367)

Interest Rate Swap Agreements48

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, 2017	Mar. 31, 2016
Derivative [Line Items]
Average variable rate received			0.58%	0.26%
Average fixed rate paid	0.87%	1.00%	0.94%	0.94%

Interest Rate Swap Agreements49

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, 2017Swap	Mar. 31, 2016
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, 2017	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - liability		$ (205)
Recurring Basis | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - asset	$ 17
Interest rate swap agreements - liability		(205)
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - asset
Interest rate swap agreements - liability
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - asset	17
Interest rate swap agreements - liability		(205)
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - asset
Interest rate swap agreements - liability

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of financial instruments not measured at fair value (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 2,855	$ 1,849
Finance receivables	317,205	311,837
Line of credit	213,000	211,000
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	2,855	1,849
Finance receivables	317,205	311,837
Line of credit	213,000	211,000
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	2,855	1,849
Finance receivables
Line of credit
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash
Finance receivables
Line of credit	213,000	211,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash
Finance receivables	317,205	311,837
Line of credit

Fair Value Disclosures (Detail

Fair Value Disclosures (Detail Textuals) - Finance receivables	12 Months Ended
	Mar. 31, 2017
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	72 months

Income Taxes - Provision for in

Income Taxes - Provision for income taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Current:
Federal									$ 4,563	$ 6,964	$ 7,688
State									724	1,054	1,196
Total current									5,287	8,018	8,884
Deferred:
Federal									(1,688)	(254)	308
State									(268)	(38)	48
Total deferred									(1,956)	(292)	356
Income tax expense	$ (641)	$ 981	$ 1,188	$ 1,803	$ 1,702	$ 1,698	$ 2,041	$ 2,285	$ 3,331	$ 7,726	$ 9,240

Income Taxes - Significant com

Income Taxes - Significant components of the company's deferred tax assets (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Allowance for credit losses not currently deductible for tax purposes	$ 7,742	$ 5,918
Share-based compensation	487	491
Interest rate swap agreements	(6)	78
Other items	282	128
Deferred income taxes	$ 8,505	$ 6,615

Income Taxes - Provision for 55

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
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes at Federal statutory rate									$ 3,059	$ 7,037	$ 9,134
Increase (decrease) resulting from:
State income taxes, net of Federal benefit									297	660	809
Transaction costs											(734)
Other									(25)	29	31
Income tax expense	$ (641)	$ 981	$ 1,188	$ 1,803	$ 1,702	$ 1,698	$ 2,041	$ 2,285	$ 3,331	$ 7,726	$ 9,240

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income tax rate	38.11%	38.43%	35.41%
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 - Summar58

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, 2017USD ($)$ / sharesshares
Shares
Exercised	(9)
Forfeited	(15)
Equity plans
Shares
Outstanding at March 31, 2016	357
Granted
Exercised	(9)
Forfeited	(15)
Outstanding at March 31, 2017	333
Exercisable at March 31, 2017	244
Weighted Average Exercise Price
Outstanding at March 31, 2016 | $ / shares	$ 10.07
Granted | $ / shares
Exercised | $ / shares	5.76
Forfeited | $ / shares	12.36
Outstanding at March 31, 2017 | $ / shares	10.08
Exercisable at March 31, 2017 | $ / shares	$ 8.78
Weighted Average Remaining Contractual Term
Outstanding at March 31, 2017	4 years 9 months
Exercisable at March 31, 2017	3 years 9 months 15 days
Aggregate Intrinsic Value
Outstanding at March 31, 2017 | $	$ 663
Exercisable at March 31, 2017 | $	$ 663

Share-Based Payments - Summar59

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, 2017USD ($)$ / sharesshares
Shares
Granted	48
Equity plan
Shares
Non-vested at March 31, 2016	82
Granted	48
Vested	(40)
Forfeited
Non-vested at March 31, 2017	90
Weighted Average Grant Date Fair Value
Non-vested at March 31, 2016 | $ / shares	$ 13.78
Granted | $ / shares	10.78
Vested | $ / shares	14.37
Forfeited | $ / shares
Non-vested at March 31, 2017 | $ / shares	$ 11.95
Weighted Average Remaining Contractual Term
Non-vested at March 31, 2017	1 year 9 months 29 days
Aggregate Intrinsic Value
Non-vested at March 31, 2017 | $	$ 952

Share-Based Payments (Detail Te

Share-Based Payments (Detail Textuals)	12 Months Ended
	Mar. 31, 2017USD ($)EquityPlanshares	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	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]
Total intrinsic value of options exercised | $	$ 46,500	$ 82,000	$ 1,829,000
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
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 61

Share-Based Payments (Detail Textuals 1) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of option	$ 50,000	$ 85,000	$ 389,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options exercised	9,000
Number of stock options forfeited	15,000
Unrecognized compensation cost	$ 137,500
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	11.44
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised	8.21
Exercise price of stock options forfeited	$ 12.97
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares awarded	48,000
Number of share granted employees maximum account reached	18,000
Threshold limit of number of share granted	10,000
Unrecognized compensation cost	$ 645,000
Weighted-average period expected to be recognized	1 year 9 months 18 days

Employee Benefit Plans (Detail

Employee Benefit Plans (Detail Textuals) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
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, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 2,023
2,019	1,557
2,020	756
2,021	75
Total	$ 4,411

Commitments and Contingencies64

Commitments and Contingencies (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 2.4	$ 2.3	$ 2.1

Quarterly Results of Operatio65

Quarterly Results of Operations (Unaudited) - Summary (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Quarterly Financial Data [Abstract]
Total revenue	$ 22,860	$ 22,044	$ 22,647	$ 22,915	$ 23,238	$ 22,757	$ 22,687	$ 22,025	$ 90,466	$ 90,707	$ 86,790
Interest expense	2,477	2,258	2,243	2,244	2,257	2,311	2,273	2,166	9,222	9,007	5,970
Provision for credit losses	13,211	8,796	8,144	7,026	7,513	7,599	6,177	4,989	37,177	26,278	20,371
Non-interest expense	8,883	8,403	9,102	8,939	9,040	8,422	8,940	8,915
Operating income before income taxes	(1,711)	2,587	3,158	4,706	4,428	4,425	5,297	5,955	8,740	20,105	26,096
Income tax expense	(641)	981	1,188	1,803	1,702	1,698	2,041	2,285	3,331	7,726	9,240
Net income	$ (1,070)	$ 1,606	$ 1,970	$ 2,903	$ 2,726	$ 2,727	$ 3,256	$ 3,670	$ 5,409	$ 12,379	$ 16,856
Earnings per share:
Basic earnings per share (in dollars per share)	$ (0.14)	$ 0.21	$ 0.25	$ 0.37	$ 0.35	$ 0.36	$ 0.43	$ 0.48	$ 0.70	$ 1.60	$ 1.40
Diluted earnings per share (in dollars per share)	$ (0.14)	$ 0.21	$ 0.25	$ 0.37	$ 0.35	$ 0.35	$ 0.42	$ 0.47	$ 0.69	$ 1.59	$ 1.38