Old Market Capital (OMCC) 10-Q 9 Nov 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	NICHOLAS FINANCIAL INC.
Entity Central Index Key	1,000,045
Trading Symbol	nick
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock Shares Outstanding		12,597,177
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Assets
Cash	$ 3,672	$ 2,855
Finance receivables, net	290,656	317,205
Assets held for resale	2,612	2,453
Income taxes receivable	628	719
Prepaid expenses and other assets	711	674
Property and equipment, net	1,082	1,184
Interest rate swap agreements		17
Deferred income taxes	9,550	8,505
Total assets	308,911	333,612
Liabilities and shareholders' equity
Line of credit	188,000	213,000
Drafts payable	1,565	1,851
Accounts payable and accrued expenses	5,377	5,932
Deferred revenues	3,484	3,969
Total liabilities	198,426	224,752
Shareholders' equity
Preferred stock, no par: 5,000 shares authorized; none issued
Common stock, no par: 50,000 shares authorized; 12,597 and 12,524 shares issued, respectively; and 7,883 and 7,810 shares outstanding, respectively	34,357	33,889
Treasury stock: 4,714 common shares, at cost	(70,459)	(70,459)
Retained earnings	146,587	145,430
Total shareholders' equity	110,485	108,860
Total liabilities and shareholders' equity	$ 308,911	$ 333,612

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Sep. 30, 2017	Mar. 31, 2017
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	12,597	12,524
Common stock, shares outstanding	7,883	7,810
Treasury stock, shares	4,714	4,714

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Interest and fee income on finance receivables	$ 21,338	$ 22,647	$ 43,536	$ 45,562
Expenses:
Marketing	353	345	744	731
Salaries and employee benefits	4,847	5,729	10,009	11,322
Administrative	2,858	3,009	5,853	5,820
Provision for credit losses	10,146	8,144	19,898	15,170
Depreciation	119	140	240	271
Interest expense	2,443	2,243	4,898	4,487
Change in fair value of interest rate swap agreements	8	(121)	17	(103)
Total expenses	20,774	19,489	41,659	37,698
Operating income before income taxes	564	3,158	1,877	7,864
Income tax expense	220	1,188	720	2,991
Net income	$ 344	$ 1,970	$ 1,157	$ 4,873
Earnings per share:
Basic (in dollars per share)	$ 0.04	$ 0.25	$ 0.15	$ 0.63
Diluted (in dollars per share)	$ 0.04	$ 0.25	$ 0.15	$ 0.62

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income	$ 1,157	$ 4,873
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	240	271
Gain on sale of property and equipment	(15)	(21)
Provision for credit losses	19,898	15,170
Amortization of dealer discounts	(5,942)	(6,818)
Amortization of commission for products	(841)	(894)
Deferred income taxes	(1,045)	(160)
Share-based compensation	130	310
Change in fair value of interest rate swap agreements	17	(103)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(37)	173
Accounts payable and accrued expenses	(555)	(391)
Income taxes receivable	91	(104)
Deferred revenues	(485)	(41)
Net cash provided by operating activities	12,613	12,265
Cash flows from investing activities
Purchase and origination of finance receivables	(49,119)	(76,148)
Principal payments received	62,553	67,800
Increase in assets held for resale	(159)	(217)
Purchase of property and equipment	(139)	(619)
Proceeds from sale of property and equipment	16	36
Net cash provided by (used in) investing activities	13,152	(9,148)
Cash flows from financing activities
Decrease on line of credit	(25,000)	(2,000)
Change in drafts payable	(286)	830
Proceeds from exercise of stock options	338	3
Net cash used in financing activities	(24,948)	(1,167)
Net increase in cash	817	1,950
Cash, beginning of period	2,855	1,849
Cash, end of period	$ 3,672	3,799
Supplemental Disclosure of noncash investing and financing activities:
Tax deficiency from share awards		$ (9)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying consolidated balance sheet as of March 31, 2017, which has been derived from audited financial statements, and the accompanying unaudited interim consolidated financial statements of Nicholas Financial, Inc. (including its subsidiaries, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q S-X. 10-K 10-K. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on finance receivables and the fair value of interest rate swap agreements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Sep. 30, 2017
Deferred Revenue Disclosure [Abstract]
Revenue Recognition	2. Revenue Recognition Finance receivables consist of automobile finance installment contracts (“Contracts”) and direct consumer loans (“Direct Loans”). Interest income on finance receivables is recognized using the interest method. Accrual of interest income on finance receivables is suspended when a loan enters bankruptcy status, is contractually delinquent for 61 days or more or the collateral is repossessed, whichever is earlier. 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 4). 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 entire amount of discount is amortized as an adjustment to yield using the interest method over the life of the loan. The average dealer discount associated with new volume for the three months ended September 30, 2017 and 2016 was 7.27% and 7.01%, respectively in relation to the total amount financed. The average dealer discount associated with new volume for the six months ended September 30, 2017 and 2016 was 7.41% and 7.08%, 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 coverage, 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	6 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	3. 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 Three months ended September 30, (In thousands, except per share amounts) Six months ended September 30, (In thousands, except per 2017 2017 Numerator: Net income $ 344 $ 1,970 $ 1,157 $ 4,873 Less: Allocation of earnings to participating securities (4 ) (26 ) (14 ) (57 ) Net income allocated to common stock 340 1,944 1,143 4,816 Basic earnings per share computation: Net income allocated to common stock $ 340 $ 1,944 $ 1,143 $ 4,816 Weighted average common shares outstanding, including shares considered participating securities 7,847 7,774 7,834 7,763 Less: Weighted average participating securities outstanding (106 ) (102 ) (98 ) (91 ) Weighted average shares of common stock 7,741 7,672 7,736 7,672 Basic earnings per share $ 0.04 $ 0.25 $ 0.15 $ 0.63 Diluted earnings per share computation: Net income allocated to common stock $ 340 $ 1,944 $ 1,143 $ 4,816 Undistributed earnings re-allocated — — — — Numerator for diluted earnings per share $ 340 $ 1,944 $ 1,143 $ 4,816 Weighted average common shares outstanding for basic earnings per share 7,741 7,672 7,736 7,672 Incremental shares from stock options 45 61 48 61 Weighted average shares and dilutive potential common shares 7,786 7,733 7,784 7,733 Diluted earnings per share $ 0.04 $ 0.25 $ 0.15 $ 0.62 Diluted earnings per share do not include the effect of certain stock options as their impact would be anti-dilutive. For the three months ended September 30, 2017 and 2016, potential shares of common stock from stock options totaling 154,565 and 160,000, respectively, were not included in the diluted earnings per share calculation because their effect is anti-dilutive. For the six months ended September 30, 2017 and 2016, potential shares of common stock from stock options totaling 149,781 and 162,486, respectively, were not included in the diluted earnings per share calculation because their effect is anti-dilutive.

Finance Receivables

Finance Receivables	6 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Finance Receivables	4. Finance Receivables Finance receivables consist of Contracts and Direct Loans and are detailed as follows: (In thousands) September 30, March 31, 2017 2017 Finance receivables, gross contract $ 470,637 $ 512,720 Unearned interest (144,249 ) (160,853 ) Finance receivables, net of unearned interest 326,388 351,867 Unearned dealer discounts (14,983 ) (17,004 ) Finance receivables, net of unearned interest and unearned dealer discounts 311,405 334,863 Allowance for credit losses (20,749 ) (17,658 ) Finance receivables, net $ 290,656 $ 317,205 Contracts and Direct Loans each comprise a portfolio segment. The following tables present selected information on the entire portfolio of the Company: As of September 30, 2017 2016 Contract Portfolio Weighted APR 22.28 % 22.53 % Weighted average discount 7.32 % 7.39 % Weighted average term (months) 57 57 Number of active contracts 34,935 37,383 As of September 30, 2017 2016 Direct Loan Portfolio Weighted APR 25.29 % 25.72 % Weighted average term (months) 33 33 Number of active contracts 2,721 2,965 Each portfolio segment consists of smaller balance homogeneous loans which are collectively evaluated for impairment. The following table sets forth a reconciliation of the changes in the allowance for credit losses on Contracts: Three months ended (In thousands) Six months ended (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 18,379 $ 12,836 $ 16,885 $ 12,265 Current period provision 10,022 8,067 19,680 15,022 Losses absorbed (8,936 ) (8,576 ) (17,628 ) (15,568 ) Recoveries 502 598 1,030 1,206 Balance at end of period $ 19,967 $ 12,925 $ 19,967 $ 12,925 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 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 September 30, 2017, the average model year of vehicles collateralizing the portfolio was a 2010 vehicle. The Company utilizes a static pool approach to track portfolio performance. If the allowance for credit losses is determined to be inadequate for a static pool, then an additional charge to income through the provision is used to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio, the composition of the portfolio, and current economic conditions. Such evaluation, considers among other matters, the estimated net realizable value of the underlying collateral, economic conditions, historical loan loss experience, management’s estimate of probable credit losses and other factors that warrant recognition in providing for an adequate allowance for credit losses. The following table sets forth a reconciliation of the changes in the allowance for credit losses on Direct Loans: Three months ended September 30, (In thousands) Six months ended September 30, (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 774 $ 764 $ 773 $ 748 Current period provision 124 77 218 148 Losses absorbed (122 ) (72 ) (223 ) (144 ) Recoveries 6 5 14 22 Balance at end of period $ 782 $ 774 $ 782 $ 774 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. Much 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 if 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 September 30, 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 The following table is an assessment of the credit quality by creditworthiness: (In thousands) September 30, 2017 September 30, 2016 Contracts Direct Loans Contracts Direct Loans Performing accounts $ 430,269 $ 10,290 $ 466,515 $ 10,930 Non-performing 25,866 276 17,964 158 Total $ 456,135 $ 10,566 $ 484,479 $ 11,088 Chapter 13 bankruptcy accounts 3,901 35 4,204 44 Finance receivables, gross contract $ 460,036 $ 10,601 $ 488,683 $ 11,132 A non-performing charge-off The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and under its Direct Loans, excluding Chapter 13 bankruptcy accounts: (In thousands, except percentages) Contracts Gross Balance 31 – 60 days 61 – 90 days 91 – 120 days Over 120 Total September 30, 2017 $ 456,135 $ 27,260 $ 13,022 $ 7,501 $ 5,343 $ 53,126 5.98 % 2.85 % 1.65 % 1.17 % 11.65 % September 30, 2016 $ 484,479 $ 29,327 $ 10,654 $ 5,249 $ 2,061 $ 47,291 6.05 % 2.20 % 1.08 % 0.43 % 9.76 % Direct Loans Gross Balance 31 – 60 days 61 – 90 days 91 – 120 days Over 120 Total September 30, 2017 $ 10,566 $ 273 $ 59 $ 71 $ 146 $ 549 2.59 % 0.56 % 0.67 % 1.38 % 5.20 % September 30, 2016 $ 11,088 $ 296 $ 87 $ 54 $ 17 $ 454 2.67 % 0.78 % 0.49 % 0.15 % 4.09 %

Line of Credit

Line of Credit	6 Months Ended
	Sep. 30, 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. Effective November 8, 2017, the Company executed amendment 7 to this existing Line which extends the maturity date to March 31, 2018 and increases the pricing of the Line to 400 basis points above 30 day LIBOR while maintaining the 1% floor on LIBOR. The amendment also increases the beneficial ownership limit from 20% to 30% and revises the calculation of availability and the minimum interest coverage ratio. The threshold for the minimum interest coverage ratio was lowered for the period ending December 31, 2017. On December 30, 2016, the Company executed an amendment which increased the pricing of the Line to 350 basis points above 30 day LIBOR while maintaining the 1% floor on LIBOR. Prior to December 30, 2016, the pricing on the Line was 300 basis points above 30 day LIBOR with a 1% floor on LIBOR. Pledged as collateral for this Line are all the assets of the Company. The Line requires compliance with certain financial ratios and covenants and satisfaction of specified financial tests, including maintenance of asset quality and performance tests. As of September, 30 2017, the Company was in compliance with all debt covenants. As disclosed in Note 4, the quality of the Company’s loan portfolio has been deteriorating. Additionally, the Company’s operating results over recent quarters provided indicators that the Company may not be able to continue to comply with certain required financial ratios, covenants and financial tests prior to the maturity date of the Line. Failure to meet any financial ratios, covenants or financial tests could result in an event of default under our Line. If an event of default occurs under the Line, our lenders could increase our borrowing costs, restrict our ability to obtain additional borrowings under the Line, accelerate all amounts outstanding under the Line, or enforce their interest against collateral pledged under the Line. The Company has a longstanding relationship with its lenders and believes it is probable that it will be able to obtain financing from either its existing lenders or from other sources; however, we can provide no assurances that the lenders will approve the further renewal or extension of the Line past March 31, 2018 or, assuming that they will approve it, that the facility will not be on terms less favorable than the current agreement. The Company may also determine to seek alternative financing, including but not limited to, the issuance of equity or debt; however, we may not be able to raise additional funds on acceptable terms, or at all.

Interest Rate Swap Agreements

Interest Rate Swap Agreements	6 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swap Agreements	6. Interest Rate Swap Agreements The Company has utilized 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 floating rate debt to a fixed rate, more closely matching the interest rate characteristics of finance receivables. As of the six months ended September 30, 2017, no new contracts were initiated and both interest rate swap contracts matured. As of the six months ended September 30, 2016, no new contracts were initiated and no contracts matured. On June 13, 2017 an interest rate swap agreement with an effective date of June 13, 2012, a notional amount of $25.0 million, and a fixed rate of interest of 1.00% expired. On July 30, 2017 an interest rate swap agreement with an effective date of July 30, 2012, a notional amount of $25.0 million, and a fixed rate of interest of 0.87% expired. The locations and amounts of loss and gain in income are as follows: Three months ended September 30, Six months ended September 30, (In thousands) (In thousands) 2017 2016 2017 2016 Periodic change in fair value of interest rate swap agreements $ 8 $ (121 ) $ 17 $ (103 ) Periodic settlement differentials included in interest expense 8 55 18 118 Loss (gain) recognized in income $ 16 $ (66 ) $ 35 $ 15 Net realized losses and gains 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 swap agreements. Three months ended September 30, Six months ended September 30, 2017 2016 2017 2016 Variable rate received 1.22 % 0.50 % 1.05 % 0.47 % Fixed rate paid 0.87 % 0.94 % 0.91 % 0.94 %

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The provision for income taxes decreased to approximately $0.2 million for the three months ended September 30, 2017 from approximately $1.2 million for the three months ended September 30, 2016. The Company’s effective tax rate increased to 38.96% for the three months ended September 30, 2017 from 37.61% for the three months ended September 30, 2016. The increase in the effective tax rate was due to the adoption of ASU 2016-09,

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures	8. Fair Value Disclosures 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. 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 Value Interest rate swap agreements: September 30, 2017 – assets: $ — $ — $ — $ — March 31, 2017 – assets: $ — $ 17 $ — $ 17 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 generally range from 12 to 72 months. The initial terms of the Direct Loans generally 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 September 30, 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. (In thousands) Fair Value Measurement Using Description Level 1 Level 2 Level 3 Fair Value Carrying Cash: September 30, 2017 $ 3,672 $ — $ — $ 3,672 $ 3,672 March 31, 2017 $ 2,855 $ — $ — $ 2,855 $ 2,855 Finance receivables: September 30, 2017 $ — $ — $ 290,656 $ 290,656 $ 290,656 March 31, 2017 $ — $ — $ 317,205 $ 317,205 $ 317,205 Line of credit: September 30, 2017 $ — $ 188,000 $ — $ 188,000 $ 188,000 March 31, 2017 $ — $ 213,000 $ — $ 213,000 $ 213,000 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 does not have any assets or liabilities measured at fair value on a nonrecurring basis as of September 30, 2017 and March 31, 2017.

Contingencies

Contingencies	6 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	9. Contingencies 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	10. Summary of Significant Accounting Policies Reclassifications The Company made certain reclassifications to the 2016 statements of cash flows. The amortization of deferred revenues decreased cash flows from operating activities by $894 thousand for 2016 and correspondingly increased cash flows from investing activities. 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 In February 2016, the FASB issued ASU No. 2016-02, 2016-02 In January 2016, the FASB issued ASU No. 2016-01, In May 2014, the FASB issued ASU No. 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 Accoun16

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Reclassifications	Reclassifications The Company made certain reclassifications to the 2016 statements of cash flows. The amortization of deferred revenues decreased cash flows from operating activities by $894 thousand for 2016 and correspondingly increased cash flows from investing activities.
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 In February 2016, the FASB issued ASU No. 2016-02, 2016-02 In January 2016, the FASB issued ASU No. 2016-01, In May 2014, the FASB issued ASU No. 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.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three months ended September 30, (In thousands, except per share amounts) Six months ended September 30, (In thousands, except per 2017 2017 Numerator: Net income $ 344 $ 1,970 $ 1,157 $ 4,873 Less: Allocation of earnings to participating securities (4 ) (26 ) (14 ) (57 ) Net income allocated to common stock 340 1,944 1,143 4,816 Basic earnings per share computation: Net income allocated to common stock $ 340 $ 1,944 $ 1,143 $ 4,816 Weighted average common shares outstanding, including shares considered participating securities 7,847 7,774 7,834 7,763 Less: Weighted average participating securities outstanding (106 ) (102 ) (98 ) (91 ) Weighted average shares of common stock 7,741 7,672 7,736 7,672 Basic earnings per share $ 0.04 $ 0.25 $ 0.15 $ 0.63 Diluted earnings per share computation: Net income allocated to common stock $ 340 $ 1,944 $ 1,143 $ 4,816 Undistributed earnings re-allocated — — — — Numerator for diluted earnings per share $ 340 $ 1,944 $ 1,143 $ 4,816 Weighted average common shares outstanding for basic earnings per share 7,741 7,672 7,736 7,672 Incremental shares from stock options 45 61 48 61 Weighted average shares and dilutive potential common shares 7,786 7,733 7,784 7,733 Diluted earnings per share $ 0.04 $ 0.25 $ 0.15 $ 0.62

Finance Receivables (Tables)

Finance Receivables (Tables)	6 Months Ended
	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of finance receivables consisting of automobile finance installment Contracts and Direct Loans	(In thousands) September 30, March 31, 2017 2017 Finance receivables, gross contract $ 470,637 $ 512,720 Unearned interest (144,249 ) (160,853 ) Finance receivables, net of unearned interest 326,388 351,867 Unearned dealer discounts (14,983 ) (17,004 ) Finance receivables, net of unearned interest and unearned dealer discounts 311,405 334,863 Allowance for credit losses (20,749 ) (17,658 ) Finance receivables, net $ 290,656 $ 317,205
Schedule of information on the entire portfolio	As of September 30, 2017 2016 Contract Portfolio Weighted APR 22.28 % 22.53 % Weighted average discount 7.32 % 7.39 % Weighted average term (months) 57 57 Number of active contracts 34,935 37,383 As of September 30, 2017 2016 Direct Loan Portfolio Weighted APR 25.29 % 25.72 % Weighted average term (months) 33 33 Number of active contracts 2,721 2,965
Schedule of an assessment of the credit quality by creditworthiness	(In thousands) September 30, 2017 September 30, 2016 Contracts Direct Loans Contracts Direct Loans Performing accounts $ 430,269 $ 10,290 $ 466,515 $ 10,930 Non-performing 25,866 276 17,964 158 Total $ 456,135 $ 10,566 $ 484,479 $ 11,088 Chapter 13 bankruptcy accounts 3,901 35 4,204 44 Finance receivables, gross contract $ 460,036 $ 10,601 $ 488,683 $ 11,132
Schedule of information regarding delinquency rates	(In thousands, except percentages) Contracts Gross Balance 31 – 60 days 61 – 90 days 91 – 120 days Over 120 Total September 30, 2017 $ 456,135 $ 27,260 $ 13,022 $ 7,501 $ 5,343 $ 53,126 5.98 % 2.85 % 1.65 % 1.17 % 11.65 % September 30, 2016 $ 484,479 $ 29,327 $ 10,654 $ 5,249 $ 2,061 $ 47,291 6.05 % 2.20 % 1.08 % 0.43 % 9.76 % Direct Loans Gross Balance 31 – 60 days 61 – 90 days 91 – 120 days Over 120 Total September 30, 2017 $ 10,566 $ 273 $ 59 $ 71 $ 146 $ 549 2.59 % 0.56 % 0.67 % 1.38 % 5.20 % September 30, 2016 $ 11,088 $ 296 $ 87 $ 54 $ 17 $ 454 2.67 % 0.78 % 0.49 % 0.15 % 4.09 %
Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of reconciliation of the changes in the allowance for credit losses	Three months ended (In thousands) Six months ended (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 18,379 $ 12,836 $ 16,885 $ 12,265 Current period provision 10,022 8,067 19,680 15,022 Losses absorbed (8,936 ) (8,576 ) (17,628 ) (15,568 ) Recoveries 502 598 1,030 1,206 Balance at end of period $ 19,967 $ 12,925 $ 19,967 $ 12,925
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of reconciliation of the changes in the allowance for credit losses	Three months ended September 30, (In thousands) Six months ended September 30, (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 774 $ 764 $ 773 $ 748 Current period provision 124 77 218 148 Losses absorbed (122 ) (72 ) (223 ) (144 ) Recoveries 6 5 14 22 Balance at end of period $ 782 $ 774 $ 782 $ 774

Interest Rate Swap Agreements (

Interest Rate Swap Agreements (Tables)	6 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of locations and amounts of (gains) losses recognized in income	Three months ended September 30, Six months ended September 30, (In thousands) (In thousands) 2017 2016 2017 2016 Periodic change in fair value of interest rate swap agreements $ 8 $ (121 ) $ 17 $ (103 ) Periodic settlement differentials included in interest expense 8 55 18 118 Loss (gain) recognized in income $ 16 $ (66 ) $ 35 $ 15
Schedule of variable rates received and average fixed rates paid under the swap agreements	Three months ended September 30, Six months ended September 30, 2017 2016 2017 2016 Variable rate received 1.22 % 0.50 % 1.05 % 0.47 % Fixed rate paid 0.87 % 0.94 % 0.91 % 0.94 %

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Sep. 30, 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 Value Interest rate swap agreements: September 30, 2017 – assets: $ — $ — $ — $ — March 31, 2017 – assets: $ — $ 17 $ — $ 17
Schedule of financial instruments not measured at fair value	(In thousands) Fair Value Measurement Using Description Level 1 Level 2 Level 3 Fair Value Carrying Cash: September 30, 2017 $ 3,672 $ — $ — $ 3,672 $ 3,672 March 31, 2017 $ 2,855 $ — $ — $ 2,855 $ 2,855 Finance receivables: September 30, 2017 $ — $ — $ 290,656 $ 290,656 $ 290,656 March 31, 2017 $ — $ — $ 317,205 $ 317,205 $ 317,205 Line of credit: September 30, 2017 $ — $ 188,000 $ — $ 188,000 $ 188,000 March 31, 2017 $ — $ 213,000 $ — $ 213,000 $ 213,000

Revenue Recognition (Detail Tex

Revenue Recognition (Detail Textuals)	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Deferred Revenue Disclosure [Abstract]
Interest income accrual on finance receivables suspension condition			Accrual of interest income on finance receivables is suspended when a loan enters bankruptcy status, is contractually delinquent for 61 days or more or the collateral is repossessed, whichever is earlier. Chapter 13 bankruptcy accounts are accounted for under the cost-recovery method.
Average dealer discount associated with new volume	7.27%	7.01%	7.41%	7.08%

Earnings Per Share - Basic and

Earnings Per Share - Basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net income	$ 344	$ 1,970	$ 1,157	$ 4,873
Less: Allocation of earnings to participating securities	(4)	(26)	(14)	(57)
Net income allocated to common stock	340	1,944	1,143	4,816
Basic earnings per share computation:
Net income allocated to common stock	$ 340	$ 1,944	$ 1,143	$ 4,816
Weighted average common shares outstanding, including shares considered participating securities	7,847	7,774	7,834	7,763
Less: Weighted average participating securities outstanding	(106)	(102)	(98)	(91)
Weighted average shares of common stock	7,741	7,672	7,736	7,672
Basic earnings per share (in dollars per share)	$ 0.04	$ 0.25	$ 0.15	$ 0.63
Diluted earnings per share computation:
Net income allocated to common stock	$ 340	$ 1,944	$ 1,143	$ 4,816
Undistributed earnings re-allocated to participating securities	0	0	0	0
Numerator for diluted earnings per share	$ 340	$ 1,944	$ 1,143	$ 4,816
Weighted average common shares outstanding for basic earnings per share	7,741	7,672	7,736	7,672
Incremental shares from stock options	45	61	48	61
Weighted average shares and dilutive potential common shares	7,786	7,733	7,784	7,733
Diluted earnings per share	$ 0.04	$ 0.25	$ 0.15	$ 0.62

Earnings Per Share (Detail Text

Earnings Per Share (Detail Textuals) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock shares not included in diluted earnings per share calculation	154,565	160,000	149,781	162,486

Finance Receivables - Finance r

Finance Receivables - Finance receivables consist of automobile finance installment Contracts and Direct Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 290,656	$ 317,205
Contracts and Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, gross contract	470,637	512,720
Unearned interest	(144,249)	(160,853)
Finance receivables, net of unearned interest	326,388	351,867
Unearned dealer discounts	(14,983)	(17,004)
Finance receivables, net of unearned interest and unearned dealer discounts	311,405	334,863
Allowance for credit losses	(20,749)	(17,658)
Finance receivables, net	$ 290,656	$ 317,205

Finance Receivables - Selected

Finance Receivables - Selected information on entire portfolio of Company(Details 1) - Contract	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Contract Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted APR	22.28%	22.53%
Weighted average discount	7.32%	7.39%
Weighted average term (months)	57 months	57 months
Number of active contracts	34,935	37,383
Direct Loan Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted APR	25.29%	25.72%
Weighted average term (months)	33 months	33 months
Number of active contracts	2,721	2,965

Finance Receivables - Summary o

Finance Receivables - Summary of reconciliation of changes in allowance for credit losses on contracts (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Current period provision	$ 10,146	$ 8,144	$ 19,898	$ 15,170
Contracts
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	18,379	12,836	16,885	12,265
Current period provision	10,022	8,067	19,680	15,022
Losses absorbed	(8,936)	(8,576)	(17,628)	(15,568)
Recoveries	502	598	1,030	1,206
Balance at end of period	$ 19,967	$ 12,925	$ 19,967	$ 12,925

Finance Receivables - Reconcili

Finance Receivables - Reconciliation of changes in allowance for credit losses on direct loans (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Current period provision	$ 10,146	$ 8,144	$ 19,898	$ 15,170
Direct Loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	774	764	773	748
Current period provision	124	77	218	148
Losses absorbed	(122)	(72)	(223)	(144)
Recoveries	6	5	14	22
Balance at end of period	$ 782	$ 774	$ 782	$ 774

Finance Receivables - Assessmen

Finance Receivables - Assessment of credit quality by creditworthiness (Details 4) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 30, 2016
Contracts
Financing Receivable, Recorded Investment [Line Items]
Total	$ 456,135	$ 484,479
Chapter 13 bankruptcy accounts	3,901	4,204
Finance receivables, gross contract	460,036	488,683
Contracts | Performing accounts
Financing Receivable, Recorded Investment [Line Items]
Total	430,269	466,515
Contracts | Non-performing accounts
Financing Receivable, Recorded Investment [Line Items]
Total	25,866	17,964
Direct Loans
Financing Receivable, Recorded Investment [Line Items]
Total	10,566	11,088
Chapter 13 bankruptcy accounts	35	44
Finance receivables, gross contract	10,601	11,132
Direct Loans | Performing accounts
Financing Receivable, Recorded Investment [Line Items]
Total	10,290	10,930
Direct Loans | Non-performing accounts
Financing Receivable, Recorded Investment [Line Items]
Total	$ 276	$ 158

Finance Receivables - Informati

Finance Receivables - Information regarding delinquency rates with respect to contracts and direct loans (Details 5) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 30, 2016
Contracts
Financing Receivable, Recorded Investment, Past Due [Line Items]
Gross Balance Outstanding	$ 456,135	$ 484,479
Total	$ 53,126	$ 47,291
Total (in percentage)	11.65%	9.76%
Contracts | 31 - 60 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 27,260	$ 29,327
Total (in percentage)	5.98%	6.05%
Contracts | 61 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 13,022	$ 10,654
Total (in percentage)	2.85%	2.20%
Contracts | Over 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 7,501	$ 5,249
Total (in percentage)	1.65%	1.08%
Contracts | Over 120 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 5,343	$ 2,061
Total (in percentage)	1.17%	0.43%
Direct Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Gross Balance Outstanding	$ 10,566	$ 11,088
Total	$ 549	$ 454
Total (in percentage)	5.20%	4.09%
Direct Loans | 31 - 60 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 273	$ 296
Total (in percentage)	2.59%	2.67%
Direct Loans | 61 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 59	$ 87
Total (in percentage)	0.56%	0.78%
Direct Loans | Over 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 71	$ 54
Total (in percentage)	0.67%	0.49%
Direct Loans | Over 120 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 146	$ 17
Total (in percentage)	1.38%	0.15%

Finance Receivables (Detail Tex

Finance Receivables (Detail Textuals) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 290,656		$ 317,205
Maximum criteria for receivable to be a performing account	61 days	120 days
Minimum threshold percentage of payment due for automobile contract to be delinquent	25.00%
Minimum criteria for receivable to be a non-performing account	61 days or more
Criteria for delinquent account written off	180 days
Direct Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of direct loan to aggregate principal amount of loan portfolio	2.00%
Direct Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 1,000
Direct Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 11,000

Line of Credit (Detail Textuals

Line of Credit (Detail Textuals) - Line of credit facility - USD ($) $ in Millions	Nov. 08, 2017	Dec. 30, 2016	Dec. 29, 2016	Sep. 30, 2017
Line of Credit Facility [Line Items]
Maximum amount of line of credit facility				$ 225
Line of credit, basis spread on variable rate		3.50%	3.00%
Description of variable rate basis		30 day LIBOR	30 day LIBOR
Line of credit facility, floor rate		1.00%	1.00%
Increased beneficial ownership limit				20.00%
Subsequent Event
Line of Credit Facility [Line Items]
Maturity date	Mar. 31, 2018
Line of credit, basis spread on variable rate	4.00%
Description of variable rate basis	30 day LIBOR
Line of credit facility, floor rate	1.00%
Increased beneficial ownership limit	30.00%

Interest Rate Swap Agreements -

Interest Rate Swap Agreements - Summary of locations and amounts of (gains) losses in income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Periodic change in fair value of interest rate swap agreements	$ 8	$ (121)	$ 17	$ (103)
Periodic settlement differentials included in interest expense	8	55	18	118
Loss (gain) recognized in income	$ 16	$ (66)	$ 35	$ 15

Interest Rate Swap Agreements33

Interest Rate Swap Agreements - Summary of variable rates received and fixed rates paid under swap (Details 1) - Interest Rate Swap	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative [Line Items]
Variable rate received	1.22%	0.50%	1.05%	0.47%
Fixed rate paid	0.87%	0.94%	0.91%	0.94%

Interest Rate Swap Agreements34

Interest Rate Swap Agreements (Detail Textuals) - Interest Rate Swap - USD ($) $ in Millions	Jun. 13, 2017	Jul. 30, 2017
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 25	$ 25
Fixed interest rate	1.00%	0.87%
Interest rate swap agreements, effective date	Jun. 13, 2012	Jul. 30, 2012

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 220	$ 1,188	$ 720	$ 2,991
Effective tax rate	38.96%	37.61%	38.37%	38.03%

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and liabilities recorded at fair value on recurring basis (Details) - Recurring Basis - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - assets	$ 0	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - assets	0	17
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - assets	0	0
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements - assets	$ 0	$ 17

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of financial instruments not measured at fair value (Details 1) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 3,672	$ 2,855
Finance receivables	0	0
Line of credit	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Finance receivables	0	0
Line of credit	188,000	213,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Finance receivables	290,656	317,205
Line of credit	0	0
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	3,672	2,855
Finance receivables	290,656	317,205
Line of credit	188,000	213,000
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	3,672	2,855
Finance receivables	290,656	317,205
Line of credit	$ 188,000	$ 213,000

Fair Value Disclosures (Detail

Fair Value Disclosures (Detail Textuals)	6 Months Ended
	Sep. 30, 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

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Detail Textuals) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Accounting Policies [Abstract]
Amortization of commission for products	$ (841)	$ (894)