Old Market Capital (OMCC) 10-K 22 Jun 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2020	Jun. 19, 2020	Sep. 30, 2019
Cover [Abstract]
Entity Registrant Name	NICHOLAS FINANCIAL INC
Entity Central Index Key	0001000045
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Common Stock Shares Outstanding		12.6
Entity Public Float			$ 47.7
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	0-26680
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	59-2506879
Entity Address, Address Line One	2454 McMullen Booth Road
Entity Address, Address Line Two	Building C
Entity Address, City or Town	Clearwater
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33759
City Area Code	(727)
Local Phone Number	726-0763
Title of 12(b) Security	Common shares, no par value
Trading Symbol	NICK
Security Exchange Name	NASDAQ
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s definitive Proxy Statement and Information Circular for the 2020 Annual General Meeting of Shareholders are incorporated by reference in Part III, Items 10 through 14, of this Annual Report on Form 10-K.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Assets
Cash	$ 16,802	$ 35,595
Restricted cash	7,882	2,047
Finance receivables, net	199,781	202,042
Repossessed assets	1,340	1,924
Operating lease right-of-use assets	2,598
Prepaid expenses and other assets	1,126	1,378
Income taxes receivable	4,898	1,654
Property and equipment, net	482	656
Deferred income taxes	3,909	7,124
Total assets	238,818	252,420
Liabilities and shareholders’ equity
Credit facility	126,830	145,000
Unamortized debt issuance costs	(2,575)	(2,381)
Net long-term debt	124,255	142,619
Operating lease liabilities	2,652
Accounts payable and accrued expenses	4,332	4,916
Total liabilities	131,239	147,535
Shareholders’ equity:
Preferred stock, no par: 5,000 shares authorized; none issued
Common stock, no par: 50,000 shares authorized; 12,639 and 12,624 shares issued respectively; 7,806 and 7,910 shares outstanding, respectively	34,867	34,660
Treasury stock: 4,833 and 4,714 common shares, at cost, respectively	(71,438)	(70,459)
Retained earnings	144,150	140,684
Total shareholders’ equity	107,579	104,885
Total liabilities and shareholders’ equity	238,818	252,420
Variable Interest Entity
Assets
Restricted cash	7,882	2,047
Finance receivables, net	165,966	187,584
Repossessed assets	1,277
Total assets	175,125	189,631
Liabilities and shareholders’ equity
Credit facility	124,255	142,619
Accounts payable and accrued expenses	597
Total liabilities	$ 124,852	$ 142,619

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2020	Mar. 31, 2019
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	12,639	12,624
Common stock, shares outstanding	7,806	7,910
Treasury stock, shares	4,833	4,714

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Interest and fee income on finance receivables	$ 62,095	$ 71,300
Expenses:
Marketing	1,548	2,446
Salaries and employee benefits	18,804	18,998
Administrative	13,393	11,724
Provision for credit losses	16,901	32,836
Amortization of intangibles	55
Depreciation	337	380
Goodwill impairment charge	295
Interest expense	8,515	9,504
Total expenses	59,848	75,888
Operating income (loss) before income taxes	2,247	(4,588)
Income tax benefit	(1,219)	(940)
Net income (loss)	$ 3,466	$ (3,648)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.45	$ (0.46)
Diluted (in dollars per share)	$ 0.45	$ (0.46)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Retained Earnings
Balance at Mar. 31, 2018	$ 108,437	$ 34,564	$ (70,459)	$ 144,332
Balance (in shares) at Mar. 31, 2018		7,895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,648)			(3,648)
Issuance of restricted stock awards (in shares)		25
Exercise of stock options	16	$ 16
Exercise of stock options (in shares)		12
Cancellation of restricted stock awards (in shares)		(22)
Share-based compensation	80	$ 80
Balance at Mar. 31, 2019	104,885	$ 34,660	(70,459)	140,684
Balance (in shares) at Mar. 31, 2019		7,910
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,466			3,466
Issuance of restricted stock awards (in shares)		39
Exercise of stock options	5	$ 5
Exercise of stock options (in shares)		2
Cancellation of restricted stock awards (in shares)		(26)
Treasury stock repurchases	(979)		(979)
Treasury stock repurchases (in shares)		(119)
Share-based compensation	202	$ 202
Balance at Mar. 31, 2020	$ 107,579	$ 34,867	$ (71,438)	$ 144,150
Balance (in shares) at Mar. 31, 2020		7,806

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 3,466	$ (3,648)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	337	380
Amortization of intangibles	55
Amortization of debt issuance costs	429
Amortization of operating of lease right-of-use assets	1,913
Gain on sale of property and equipment	(23)	(62)
Goodwill impairment charge	295
Repossessed assets	677	193
Provision for credit losses	16,901	32,836
Amortization of dealer discounts	(8,031)	(10,641)
Amortization of insurance and fee commissions	(2,615)	(1,797)
Accretion of purchase price discount	(746)
Deferred income taxes	3,215	(835)
Principal reduction on operating lease liabilities	(1,841)
Share-based compensation	202	80
Changes in operating assets and liabilities:
Accrued interest receivable	(275)	(157)
Prepaid expenses and other assets	304	(110)
Accounts payable and accrued expenses	(744)	(2,046)
Income taxes receivable	(3,244)	(149)
Unearned insurance and fee commissions	210
Net cash provided by operating activities	10,485	14,044
Cash flows from investing activities:
Purchase and origination of finance receivables	(89,334)	(85,240)
Principal payments received	106,248	129,530
Net assets acquired from branch acquisitions, primarily loans	(20,483)
Purchase of property and equipment	(130)	(228)
Proceeds from sale of property and equipment	23	97
Net cash (used in) provided by investing activities	(3,676)	44,159
Cash flows from financing activities:
Repayments on credit facility	(38,950)	(165,750)
Proceeds from the credit facility	20,780	145,000
Payment of loan originations fees	(623)	(2,453)
Proceeds from exercise of stock options	5	16
Repurchases of treasury stock	(979)
Net cash used in financing activities	(19,767)	(23,187)
Net (decrease) increase in cash	(12,958)	35,016
Cash and restricted cash, beginning of year	37,642	2,626
Cash and restricted cash, end of year	24,684	37,642
Supplemental Disclosures:
Interest paid, includding debt originations cost, during the year	8,187	11,600
Income taxes paid during the year	6	44
Leased assets obtained in exchange for new operating lease liabilities	4,058
Cash	16,802	35,595
Restricted cash	7,882	2,047
Cash and restricted cash, end of year	$ 24,684	$ 37,642

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Mar. 31, 2020
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 used and new automobiles and light trucks. NFI also offers direct consumer loans (“Direct Loans”) and sells consumer-finance related products. In addition, NF Funding I, LLC (“NF Funding I”), is a wholly-owned, special purpose financing subsidiary of NFI. All three companies 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”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2020
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, NFI, and NF Funding I, collectively referred to as the “Company”. All intercompany transactions and balances have been eliminated. Segment Reporting The Company reports operating segments in accordance with FASB Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting. Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assesses performance. FASB ASC Topic 280 requires that a public enterprise report a measure of segment profit or loss, certain specific revenue and expense items, segment assets, information about the way the operating segments where determined and other items. The Company has one reportable segment, which is the consumer finance company. 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. Restricted Cash Restricted cash includes cash and cash equivalents for which the Company’s ability to withdraw funds is contractually limited. The Company’s restricted cash consist of cash restricted for debt serving of the Company’s variable interest entity. Finance Receivables Finance receivables are recorded at cost, net of unearned dealer discounts, unearned insurance and commissions (see “Revenue Recognition”), and the allowance for credit losses (See Note 3). Beginning in the fiscal year ended March 31, 2019, the Company ceased capitalizing compensation to the dealers. This change resulted in an increase in marketing expenses of approximately $1.0 million for the fiscal year ended March 31, 2019. Allowance for Credit Losses During the first quarter of the fiscal year ended March 31, 2019, the Company began using the trailing six-month net charge-off percentage, annualized, and applied to ending finance receivables to calculate the allowance for credit losses. This change was made to reflect changes in the Company’s lending policies and underwriting standards, which resulted from the Company changing its business strategies. The Company re-focused on financing primary transportation to and from work for the subprime borrower. This change resulted in purchasing higher yielding loans, with smaller amounts financed and shorter monthly terms. A trailing six-month, annualized, is also more in line with the industry practice, which uses a trailing twelve-month. Management believes a trailing six-month will more accurately reflect changes in the portfolio. Using the prior method (discussed below), the allowance and provision expense for the first quarter of fiscal 2019 would have been approximately $151,000 lower. As of March 2019, the Company changed its charge-off policy from 181 days past due to 121 days past due, which resulted in the Company charging-off approximately $6.4 million of finance receivables during the fourth quarter of fiscal 2019. This one-time charge-off, of approximately $6.4 million, was excluded from the March 31, 2019 allowance for credit losses calculation. In addition, the Company takes into consideration the composition of the portfolio, current economic conditions, estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts when determining management’s estimate of probable credit losses and adequacy of the allowance for credit losses. If the allowance for credit losses is determined to be inadequate, then an additional charge to the provision is recorded to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio. Conversely, the Company could identify abnormalities in the composition of the portfolio, which would indicate the calculation is overstated and management judgement may be required to determine the allowance of credit losses for both Contracts and Direct Loans. Repossessed Assets Repossessed assets 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 is 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 Software 7 years Leasehold improvements Lesser of lease term or useful life (generally 6 - 7 years) Goodwill Goodwill represents the excess of the cost of net assets acquired in business combinations over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. Goodwill impairment exists when the fair value of a reporting unit is less than the carrying value. Goodwill is tested for impairment annually, as of the last day of the fiscal year, or more frequently whenever events or changes in circumstances would more likely than not reduce the fair value of a reporting unit below its carrying amount. Goodwill is tested for impairment at the reporting unit level. The Company has one reporting unit, which is the same level as the Company’s one operating segment, the consumer finance company. The Company has the option of either assessing qualitative factors to determine whether it is more likely than not that the carrying value of our reporting unit exceeds its fair value or proceeding directly to a quantitative test. The Company elected to perform the quantitative impairment test at March 31, 2020. The quantitative impairment test compares the fair value of the reporting unit to its carrying value, including goodwill. The fair value of a reporting unit refers to the price that would be received to sell the reporting unit in an orderly transaction between market participants at the measurement date. Quoted market prices in active markets are the best evidence of fair value and shall be used as the basis for the measurement, if available. If the fair value exceeds its carrying value, the goodwill of the reporting unit is not considered impaired. However, if the carrying value of the reporting unit exceeds its fair value, the Company recognizes an impairment loss equal to that excess. As the Company only has one reporting unit, the Company estimated the fair value of the reporting unit using a market based approach, with the primary input being the Company’s market capitalization at the measurement date, adjusted for a control premium. Based upon the impairment test at March 31, 2020, the Company concluded that its recorded balance of goodwill was impaired and recorded an impairment charge of $0.3 million, which resulted in a full write-off of the Company’s goodwill balance (See Note 5). Impairment of Long-Lived Assets The Company assesses impairment of long-lived assets, including property and equipment and intangible assets, whenever changes or events indicate that the carry amount may not be recoverable. The Company assesses impairment of these assets generally at the branch level based on profitability of the branch and the Company’s plans for branch closings. The Company will write down such assets to fair value, based on operational results, if impairment has occurred. The Company did not record any impairment charges for the long-lived assets for the fiscal year ended 2020 or 2019. 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. There were no unrecognized tax positions as of March 31, 2020 or 2019. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions the Company is no longer subject to U.S. federal and state tax examinations for fiscal years prior to 2016. We are subject to taxation at the federal, state, and local levels in the United States. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”). The changes included in TCJA are broad and complex. The final transition impacts of TCJA may differ from the estimates provided elsewhere in this Annual Report, possibly materially, due to, among other things, changes in interpretations of TCJA, any legislative action to address questions that arise because of TCJA, any changes in accounting standards for income taxes or related interpretations in response to TCJA, or any updates or changes to estimates the Company has utilized to calculate the transition impacts, including impacts from changes to current year earnings estimates. The estimated impact of the new law is based on management’s current knowledge and assumptions and recognized impacts could be materially different from current estimates. The effect on deferred taxes of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. See Note 7 for details regarding the impact of Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) by the U.S. government on March 27, 2020. 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. The Company reverses the accrual of interest income when the loan is contractually delinquent 61 days or more. As of March 2019, non-performing assets, defined as 61 or more days past due, a Chapter 7 bankruptcy account, or a Chapter 13 bankruptcy that has not been confirmed by the courts, for which the accrual of interest income is suspended. Upon confirmation of a bankruptcy chapter 13 (BK13), the account is charged-off. Upon notification of a bankruptcy chapter 7, an account is monitored for collection. In the event the debtors’ balance is reduced by the bankruptcy court, the Company will record a loss equal to the amount of principal balance reduction. The remaining balance will be reduced as payments are received. 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 (see Note 3). A dealer discount represents the difference between the finance receivable 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, 2020 and 2019, were 7.9% and 8.2%, respectively. Unearned insurance and fee commissions 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. Income (Loss) Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. Earnings (loss) per share is calculated using the two-class method, as such awards are more dilutive under this method than the treasury stock method. Ordinarily, basic earnings per share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Ordinarily, diluted loss per share includes the dilutive effect of additional potential common shares from stock compensation awards. For the year ended March 31, 2020, Company experienced net income. For the year ended March 31, 2019, the Company experienced net loss, which is not allocated to participating securities as their effect is antidilutive. Income (loss) per share has been computed based on the following weighted average number of common shares outstanding: Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2020 2019 Numerator: Net income (loss) per consolidated statements of income (loss) $ 3,466 $ (3,648 ) Less: Allocation of income (loss) to participating securities (32 ) — Net income (loss) allocated to common stock $ 3,434 $ (3,648 ) Basic income (loss) per share computation: Net income (loss) allocated to common stock $ 3,434 $ (3,648 ) Weighted average common shares outstanding, including shares considered participating securities 7,774 7,861 Less: Weighted average participating securities outstanding (72 ) — Weighted average shares of common stock 7,702 7,861 Basic income (loss) per share $ .45 $ (0.46 ) Diluted income (loss) per share computation: Income (loss) allocated to common stock $ 3,434 $ (3,648 ) Undistributed earnings re-allocated to participating securities 32 — Numerator for diluted income (loss) per share $ 3,466 $ (3,648 ) Weighted average common shares outstanding for basic income (loss) per share 7,702 7,861 Incremental shares from stock options 1 — Weighted average shares and dilutive potential common shares 7,703 7,861 Diluted income (loss) per share $ .45 $ (0.46 ) Diluted income (loss) per share does not include the effect of certain stock options as their impact would be anti-dilutive. Approximately 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 restricted shares and performance units are measured at the market price of a share on a grant date. Restricted shares have a three-year service period. Performance units include a performance period (generally ending at the end of the fiscal year in which the units were granted) followed by a two-year service period. At the end of the performance period, these units effectively become restricted shares for the remaining two-year service period at which time they become vested. 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 receivable is a part of finance receivables), and a Credit Facility. Financial instruments that are exposed to concentrations of credit risk are primarily finance receivables and cash. For the year ended, March 31, 2020, the Company operated in 16 states through 43 branch locations. Of the finance receivables total as of March 31, 2020, Florida represented 29%, North Carolina represented 13%, Ohio represented 12%, and Georgia represented 10%. Of the remaining 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. Variable Interest Entity In March 2019, the Company entered into a new senior secured credit facility collateralized by customer financed receivables by transferring the receivables into a bankruptcy-remote variable interest entity (VIE). Under the terms of the transaction, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of the asset-backed notes, and then to the residual equity holder. The Company retained the servicing of the portfolio and receives a monthly fee of 2.5% (annualized) based on the outstanding balance of the financed receivables, and the Company currently holds all of the residual equity, monthly fees are eliminated in the consolidated financial statements. In addition, the Company, rather than the VIE, will retain certain credit insurance income together with certain recoveries related to credit insurance and on charge-offs of the financed receivables, which will continue to be reflected as a reduction of net charge-offs on a consolidated basis for as long as the Company consolidates the VIE. The Company consolidated the VIE’s when the Company determines that it is the primary beneficiary, the Company has the power to direct the activities that most significantly impact the performance of the VIE and it has the obligation to absorb losses and has the right to receive residual returns is significant. Statements of Cash Flows Cash paid for income taxes for the years ended March 31, 2020 and 2019 was approximately $6 thousand and $44 thousand, respectively. Cash paid for interest, including debt origination costs for the years ended March 31, 2020 and 2019 was approximately $8.2 million and $11.6 million, respectively. Reclassifications Certain prior-period amounts have been reclassified to conform to the current presentation. Such reclassifications had no impact on previously reported net loss or shareholders’ equity. Recently Adopted Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. ASU 2017-04 also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. The amendments in this update are effective for public entities who are SEC filers for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company adopted the guidance on March 31, 2020 and applied it to the Company’s goodwill impairment test at March 31, 2020 (See Note 5). In February 2016, the FASB issued ASU No. 2016-02, “Leases”, intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. “The ASU will require organizations that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The accounting by organizations that own the assets leased by the lessee—also known as lessor accounting—will remain largely unchanged from current U.S. GAAP. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. Upon adoption, the Company added the impact of the full operating lease terms, using the present value of future minimum lease payments to the balance sheet. The Company adopted the guidance on April 1, 2019 and the adoption of this guidance did not have a material impact on its Consolidated Financial Statements. Recent Accounting Pronouncements In June 2016, the FASB issued the ASU 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable 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, 2020. Recently, the FASB voted to delay the implementation date for this accounting standard, for smaller reporting companies, the new effective date is beginning after December 15, 2022, and early adoption is permitted. 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, the Company believes the adoption of this ASU will likely have a material effect and is expected to increase the overall allowance for credit losses. 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, 2020
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 used and new 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. In March 2019, the Company changed its charge off policy from 181 days past due to 121 days past due. In addition, Chapter 13 Bankruptcies, once confirmed by the courts, are also charged off. This policy change resulted in a one-time charge of approximately $6.4 million during the 4 th Contracts and Direct Loans included in finance receivables are detailed as follows as of fiscal years ended March 31: (In thousands) 2020 2019 Finance receivables $ 219,366 $ 228,994 Accrued interest receivable 3,164 2,889 Unearned dealer discounts (8,056 ) (10,083 ) Unearned insurance and fee commissions (2,616 ) (2,826 ) Purchase price discount (915 ) - Finance receivables, net of unearned 210,943 218,974 Allowance for credit losses (11,162 ) (16,932 ) Finance receivables, net $ 199,781 $ 202,042 Contracts 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 predominantly for used vehicles. As of March 31, 2020, the average model year of vehicles collateralizing the portfolio was a 2011 vehicle. The terms of the Contracts range from 12 to 60 months and bear an average contractual interest rate of 22.6% and 22.7% as of March 31, 2020 and 2019, respectively. Direct Loans Direct Loans are typically for amounts ranging from $1,000 to $15,000 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, 2020, loans made by the Company pursuant to its Direct Loan program constituted approximately 5% of the aggregate principal amount of the Company’s loan portfolio. The terms of the Direct Loans range from 12 to72 months and bear an average contractual interest rate of 27.3% and 26.0% as of March 31, 2020 and 2019, respectively. Allowance for Credit Losses During the first quarter of the fiscal year ended March 31, 2019, the Company began using the trailing six-month net charge-off percentage, annualized, and applied to ending finance receivables to calculate the allowance for credit losses. This change was made to reflect changes in the Company’s lending policies and underwriting standards, which resulted from the Company changing its business strategies. The Company re-focused on financing primary transportation to and from work for the subprime borrower. This change resulted in purchasing higher yielding loans, with smaller amounts financed and shorter monthly terms. A trailing six-month, annualized, is also more in line with the industry practice, which uses a trailing twelve-month. Management believes a trailing six-month will more accurately reflect changes in the portfolio. As of March 2019, the Company changed its charge-off policy from 181 days past due to 121 days past due, which resulted in the Company charging-off approximately $6.4 million of finance receivables during the fourth quarter of fiscal 2019. This one-time charge-off, of approximately $6.4 million, was excluded from the March 31, 2019 allowance for credit losses calculation. In addition, the Company takes into consideration the composition of the portfolio, current economic conditions, estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts when determining management’s estimate of probable credit losses and adequacy of the allowance for credit losses. If the allowance for credit losses is determined to be inadequate, then an additional charge to the provision is recorded to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio. Conversely, the Company could identify abnormalities in the composition of the portfolio, which would indicate the calculation is overstated and management judgement may be required to determine the allowance of credit losses for both Contracts and Direct Loans. The following presents the activity in our allowance for credit losses, shown below and on the next page: For the year ended March 31, 2020 (In thousands) Indirect Direct Total Balance at beginning of year $ 16,575 $ 357 $ 16,932 Provision for credit losses 16,096 805 16,901 Charge-offs (29,174 ) (663 ) (29,837 ) Recoveries* 6,936 230 7,166 Balance at end of year $ 10,433 $ 729 $ 11,162 *For the year ended March 31, 2020, the Company completed bulk sales of charge-off accounts, which included $1.6 million of bankruptcy accounts and $0.1 million of non-performing accounts. For the year ended March 31, 2019 (In thousands) Indirect Direct Total Balance at beginning of year $ 19,433 $ 833 $ 20,266 Provision for credit losses 32,715 121 32,836 Charge-offs (37,514 ) (638 ) (38,152 ) Recoveries 1,941 41 1,982 Balance at end of year $ 16,575 $ 357 $ 16,932 A performing account is defined as an account that is less than 61 days past due. The Company defines 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, the Company will grant obligors one-month payment extensions. The only modification of terms in those circumstances is to advance the obligor’s next due date by one month and extend the maturity date of the receivable. There are no other concessions, such as a reduction in interest rate, forgiveness of principal or of accrued interest. Accordingly, the Company considers such extensions to be insignificant delays in payments rather than troubled debt restructurings. A non-performing account is defined as an account that is contractually delinquent for 61 days or more or is a Chapter 13 bankruptcy account, and the accrual of interest income is suspended. As of February 2019, the Company changed the charge-off policy from 181 days contractually delinquent to 121 days contractually delinquent. This change aligned the Company’s charge-off policy with practices within the subprime auto financing segment. See “ 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) 2020 2019 Contracts Direct Loans Total Contracts Direct Loans Total Performing accounts $ 201,045 $ 11,649 $ 212,694 $ 213,542 $ 7,889 $ 221,431 Non-performing accounts 6,202 195 6,397 7,453 110 7,563 Total 207,247 11,844 219,091 220,995 7,999 228,994 Chapter 13 bankruptcy 274 1 275 - - - Finance receivables $ 207,521 $ 11,845 $ 219,366 $ 220,995 $ 7,999 $ 228,994 The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans, excluding any Chapter 13 bankruptcy accounts: (In thousands) Contracts Balance Outstanding 30 – 59 days 60 –89 days 90-119 days 120+ days Total March 31, 2020 $ 207,247 $ 14,977 $ 4,290 $ 1,893 $ 19 $ 21,179 7.23 % 2.07 % 0.91 % 0.01 % 10.22 % March 31, 2019 $ 220,995 $ 14,897 $ 5,155 $ 2,288 $ 10 $ 22,350 6.74 % 2.33 % 1.04 % 0.00 % 10.11 % Direct Loans Balance Outstanding 30 – 59 days 60 –89 days 90-119 days 120+ days Total March 31, 2020 $ 11,844 $ 344 $ 136 $ 59 — $ 539 2.90 % 1.15 % 0.50 % 0.00 % 4.55 % March 31, 2019 $ 7,999 $ 197 $ 79 $ 31 $ - $ 307 2.46 % 0.99 % 0.39 % 0.00 % 3.84 %

Property and Equipment

Property and Equipment	12 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment as of March 31, 2020 and 2019 is summarized as follows: (In thousands) Cost Accumulated Depreciation Net Book Value 2020 Automobiles $ 451 $ 396 $ 55 Software 160 23 137 Equipment 1,571 1,439 132 Furniture and fixtures 575 519 56 Leasehold improvements 1,207 1,105 102 $ 3,964 $ 3,482 $ 482 2019 Automobiles $ 488 $ 415 $ 73 Software 127 3 124 Equipment 1,535 1,263 272 Furniture and fixtures 535 465 70 Leasehold improvements 1,187 1,070 117 $ 3,872 $ 3,216 $ 656

Goodwill and Intangibles

Goodwill and Intangibles	12 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	5. Goodwill and Intangibles On April 30, 2019, the Company completed an acquisition of three branches, representing substantially all of the assets, of ML Credit Group, LLC (d/b/a Metrolina Credit Company) (“Metrolina”). Two acquired branches are located in the state of North Carolina and one branch is located in South Carolina. Based on its evaluation of the agreement, the Company accounted for the acquisition as a business combination. The Company allocated the purchase price to the acquired assets and liabilities based on their fair values. As of March 31, 2020, the accounting related to this acquisition was completed by the Company. The final determination of the fair value of the customer lists and goodwill were completed within the twelve-month measurement period from the date of the acquisition as required by FASB ASC Topic 805-10-25. The Company recorded the following assets and liabilities in its accounting for this acquisition and the changes in the carrying amount of goodwill, are as shown on the next page. As of March 31, 2020 Acquisitions: Number of branches acquired through business combinations 3 Purchase price $ 20,483 Tangible assets: Finance receivable, net 20,097 Other assets 144 Assumed liabilities (160 ) Total net tangible assets 20,081 Excess of purchase prices over carrying value of net tangible assets $ 402 Indirect dealer network relationships $ 64 Direct customer relationships 43 Goodwill 295 Total goodwill and intangible assets $ 402 For year ended March 31, 2020 Balance as of April 1, 2019 $ - Goodwill acquired during the year 295 Goodwill impairment charge (295 ) Balance as of March 31, 2020 $ - The Company completed the annual impairment test for goodwill at the reporting unit level pursuant to Accounting Standards Codification (“ASC”) 350 – Intangibles – Goodwill and Other (ASC 350), as amended by ASU 2017-04, which the Company adopted during the current year A reporting unit is defined under GAAP as the operating segment, or one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. Our single operating segment comprises a single reporting unit, based on the level at which segment management regularly reviews and measures the business operating results. The Company has one operating segment, which is the consumer finance company. ASC 350 requires the Company to test goodwill for impairment annually and more frequently if indicators of impairment exist. Testing goodwill for impairment requires management to compare the fair value of a reporting unit with its carrying amount, including goodwill. While the qualitative assessment may change how goodwill impairment testing is performed, it does not affect the timing or measurement of goodwill impairment. ASC 350 also provides for an optional qualitative assessment for testing goodwill for impairment (qualitative assessment) that may allow the Company to skip the annual quantitative impairment test. The qualitative assessment permits companies to assess whether it is more likely than not (i.e., a likelihood of greater than 50%) that the fair value of a reporting unit is less than its carrying amount. The fair value of a reporting unit refers to the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date, which is March 31, 2020. Quoted market prices in active markets are the best evidence of fair value and shall be used as the basis for the measurement, if available. The fair value of a reporting unit is the amount at which the unit as a whole could be sold in a current transaction between willing parties (i.e., other than in a forced or liquidation sale). If a public company has only one reporting unit (or a company owns a publicly traded subsidiary that represents a reporting unit), then the market capitalization of the public company (or its public subsidiary) provides certain evidence about the fair value of that reporting unit. During the year ended March 31, 2020, the Company experienced a significant decrease in stock prices, which was significant driver of the goodwill impairment charge. As of March 31, 2020, the closing stock price was $5.84, and the fiscal year monthly average share price was $8.51. The total number of common shares outstanding was approximately 7.8 million for the period ending, March 31, 2020. Based upon the impairment test at March 31, 2020, the Company concluded that the reporting unit fair value, adjusted for a control premium, was less than the carrying amount of the reporting unit of $107.6 million. The goodwill impairment loss recognized was $0.3 million, which is limited to the total amount of goodwill allocated to the reporting unit. Definite-lived intangible assets principally consist of customer-related assets including contract indirect dealer network relationships and direct customer relationships. These assets are amortized over their estimated useful lives and evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable. The evaluation compares the cash inflows expected to be generated from each intangible asset to its carrying value. If cash flows attributable to the intangible asset are less than the carrying value, the asset is considered impaired and written down to its estimated fair value. No material impairments of definite-lived intangible assets have been recognized in the periods presented in the consolidated financial statements. For the twelve months ended as of March 31, 2020, the Company incurred approximately $278,000 in expenses related to the purchase of the Metrolina assets.

Credit Facility

Credit Facility	12 Months Ended
	Mar. 31, 2019
Line Of Credit Facility [Abstract]
Credit Facility	Error extracting Word content

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures	7. Fair Value Disclosures Financial Instruments Not Measured at Fair Value The Company’s financial instruments consist of cash and restricted cash, finance receivables, repossessed assets, and the Credit Facility. For the cash and the credit facility, the carrying value approximates fair value. Finance receivables, net, approximates fair value based on the price paid to acquire Contracts. The price 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. Beginning in December 2017, the maximum initial term of a Contract was reduced to 60 months. The initial terms of the Direct Loans generally range from 12 to 60 months. If liquidated outside of the normal course of business, the amount received may not be the carrying value. Repossessed assets are valued at the lower of the finance receivable balance prior to repossession or the estimated net realizable value of the repossessed asset. The Company estimates the net realizable value using the projected cash value upon liquidation plus insurance claims outstanding, if any. Based on current market conditions, any new or renewed credit facility would contain pricing that approximates the Company’s current Credit Facility. Based on these market conditions, the fair value of the Credit Facility as of March 31, 2019 was estimated to be equal to the book value. The interest rate for the Credit Facility is a variable rate based on LIBOR pricing options. Fair Value Measurement Using (In thousands) Fair Carrying Description Level 1 Level 2 Level 3 Value Value Cash and restricted cash: March 31, 2020 $ 24,684 $ — $ — $ 24,684 $ 24,684 March 31, 2019 $ 37,642 $ — $ — $ 37,642 $ 37,642 Finance receivables: March 31, 2020 $ — $ — $ 199,781 $ 199,781 $ 199,781 March 31, 2019 $ — $ — $ 202,042 $ 202,042 $ 202,042 Repossessed assets: March 31, 2020 $ — $ — $ 1,340 $ 1,340 $ 1,340 March 31, 2019 $ — $ — $ 1,924 $ 1,924 $ 1,924 Credit facility: March 31, 2020 $ — $ 126,830 $ — $ 126,830 $ 126,830 March 31, 2019 $ — $ 145,000 $ — $ 145,000 $ 145,000 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. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as a Level 3.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The provision for income taxes (income tax benefits) consists of the following for the years ended March 31: (In thousands) 2020 2019 Current: Federal $ (4,440 ) $ (39 ) State 6 (66 ) Total current (4,434 ) (105 ) Deferred: Federal 3,008 (844 ) State 207 9 Total deferred 3,215 (835 ) Income tax benefit $ (1,219 ) $ (940 ) 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) Deferred Tax Assets 2020 2019 Allowance for credit losses not currently deductible for tax purposes $ 2,948 $ 4,431 Share-based compensation 320 276 Federal and state net operating loss carryforwards 458 2,293 Right of use liability 462 - Other items 249 201 Total deferred tax assets 4,437 7,201 Deferred tax liabilities Right of use asset 457 - Other items 71 77 Total deferred tax liabilities 528 77 Deferred income taxes $ 3,909 $ 7,124 The provision (benefit) for income taxes reflects an effective U.S tax rate, which differs from the corporate tax rate for the following reasons: (In thousands) 2020 2019 Provision (benefit) for income taxes at Federal statutory rate $ 479 $ (845 ) Increase (decrease) resulting from: Federal Fiscal Year 2020 NOL rate differential (414 ) - Federal Fiscal Year 2019 NOL rate differential (1,362 ) - State income taxes, net of Federal benefit 91 (206 ) Tax Reform – Rate Change - 160 Other (13 ) (49 ) Income tax expense (benefit) $ (1,219 ) $ (940 ) The Company’s effective tax rate decreased to (54.3)% in fiscal 2020 from 20.5% in fiscal 2019, resulting from the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). In response to the global impacts of COVID-19 on U.S. companies and citizens, the government enacted the CARES Act on March 27, 2020. The CARES Act included several tax relief options for companies, which resulted in the following provisions available to the Company. • In May 2020, the Company elected to carryback its fiscal year 2019 net operating losses of $9.7 million to 2013, thus generating a refund of $3.5 million and an income tax benefit of $1.4 million. The tax benefit is the result of the federal income tax rate differential between the current statutory rate of 21% and the 35% rate applicable to 2013. • The Company plans to carryback its fiscal year 2020 net operating losses of $3.0 million to 2014, thus generating an anticipated refund of $1.0 million and an income tax benefit of $0.4 million. The tax benefit is the result of the federal income tax rate differential between the current statutory rate of 21% and the 35% rate applicable to 2014. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective positive evidence evaluated was the cumulative pre-tax income over the three-year period ended March 31, 2020, cumulative pre-tax income for the next three years, and substantial federal NOL rate differentials, previously noted. As of March 31, 2020, a valuation allowance was not required. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income are reduced. The Company considers the earnings of the Company’s U.S. subsidiaries to be indefinitely invested outside Canada on the basis of estimates that future domestic cash generation will be sufficient to meet future domestic cash needs and the Company’s specific plans for reinvestment of those subsidiary earnings. The Company has not recorded a deferred tax liability related to the Canadian income taxes and U.S. withholding taxes on approximately $144.2 million of undistributed earnings of the U.S. subsidiaries indefinitely invested outside Canada. If the Company decided to repatriate the U.S. earnings, it would need to adjust its income tax provision in the period the Company determined that the earnings will no longer be indefinitely invested outside of Canada.

Leases

Leases	12 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	9. Leases The Company adopted a new lease accounting standard in April 2019. See Note 2, “Summary of Significant Accounting Policies,” for an overview of the transition to this standard. The Company maintains lease agreements related to its branch network and for its corporate headquarters. The branch lease agreements range from one to five years and generally contain options to extend from one to three years. The corporate headquarters lease agreement expires in April 2020 and the Company is in the process of negotiating a new lease agreement. All of the Company’s lease agreements are considered operating leases. None of the Company’s lease payments are dependent on a rate or index that may change after the commencement date, other than the passage of time. The Company’s lease liability was $2.7 million as of March 31, 2020. This liability is based on the present value of the remaining minimum rental payments using a discount rate that is determined based on the Company’s incremental borrowing rate on its senior revolving credit facility. The lease asset was $2.6 million as of March 31, 2020. The Company has made several policy elections related to lease assets and liabilities. The Company elected to utilize the package of transition practical expedients, which includes not reassessing the following at adoption: (i) whether existing contracts contained leases, (ii) the existing classification of leases as operating or financing, or (iii) the initial direct costs of leases. In addition, the Company did not use hindsight to determine the lease term or include options to extend for leases existing at the transition date. The Company had elected the practical expedient of combining lease and non-lease components for its real estate leases in calculating the present value of the fixed payments without having to perform an allocation between the types of lease components. Future minimum lease payments under non-cancellable operating leases in effect as of March 31, 2020, are as follows: in thousands 2021 $ 1,355 2022 865 2023 495 2024 88 2025 48 Thereafter 185 Total future minimum lease payments 3,036 Present value adjustment (384 ) Operating lease liability $ 2,652 The following table reports information about the Company’s lease cost for the twelve months ended March 31, 2020 (in thousands): Lease cost: Operating lease cost $ 1,777 Variable lease cost 435 Total lease cost $ 2,212 The following table reports other information about the Company’s leases for the twelve months ended March 31, 2020 (dollar amounts in thousands): Other Lease Information Operating Lease - Operating Cash Flows (Fixed Payments) $ 1,913 Operating Lease - Operating Cash Flows (Liability Reduction) $ 1,841 Weighted Average Lease Term - Operating Leases 2.5 years Weighted Average Discount Rate - Operating Leases 6.5% Rent expense for the fiscal years ended March 31, 2020 and 2019 was approximately $2.2 million and $2.6 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.

Share-Based Payments

Share-Based Payments	12 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Payments	10. 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 directors. Under the 2015 Plan, the Board of Directors is authorized to grant total share awards for up to 750,000 common shares. Awards under the 2006 Plan will continue to be governed by the terms of that plan. The 2015 Plan replaced the 2006 Plan; accordingly, no additional option awards may be granted under the 2006 Plan. In addition to option awards, the 2015 Plan provides for restricted stock, restricted stock units, performance shares, performance units, and other equity-based compensation. Option awards previously granted to employees and directors under the 2006 Plan generally vest ratably based on service over a five- and three-year period, respectively, and generally have a contractual term of ten years. Vesting and contractual terms for option awards under the 2015 Plan are essentially the same as those of the 2006 Plan. Restricted stock awards generally cliff vest over a three-year period based on service conditions. 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 Company did not grant any options during the years ended March 31, 2020 or 2019. A summary of option activity under the Equity Plans as of March 31, 2020, and changes during the year are presented below. (Shares and Aggregate Intrinsic Value in thousands) Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at March 31, 2019 72 $ 10.71 4.10 $ 51 Granted — — Exercised (2 ) 3.49 Forfeited (8 ) 12.02 Outstanding at March 31, 2020 62 $ 11.67 3.13 $ - Exercisable at March 31, 2020 57 $ 10.63 2.70 $ - The total intrinsic value of options exercised during the years ended March 31, 2020 and 2019 was approximately $7,000 and $98,000, respectively. During the fiscal year ended March 31, 2020, approximately 2,000 options were exercised at exercise prices ranging from $1.20 to $4.18 per share. During the same period, approximately 8,000 options were forfeited at exercise prices ranging from $10.87 to $12.68 per share. During the fiscal year ended March 31, 2019, approximately 12,000 options were exercised at exercise prices ranging from $0.77 to $4.18 per share. During the same period, approximately 67,000 options were forfeited at exercise prices ranging from $10.87 to $14.36 per share. Cash received from options exercised during the fiscal years ended March 31, 2020 and 2019 totaled approximately $5,000 and $16,000, respectively. As of March 31, 2020, the Company had no unrecognized compensation related to options grants. For the year ended, March 31, 2020 and March 31, 2019, respectively, the Company had approximately $0 and $10,000 of total unrecognized compensation cost related to options granted. A summary of the status of the Company’s non-vested restricted shares under the Equity Plan as of March 31, 2020, and changes during the year then ended is presented below. (Shares and Aggregate Intrinsic Value in thousands) Restricted Share Awards Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Non-vested at March 31, 2019 45 $ 10.51 1.96 404 Granted 39 9.47 Vested (8 ) 9.49 Forfeited (26 ) 10.57 Non-vested at March 31, 2020 50 $ 9.65 1.40 $ 341 The Company awarded approximately 39,000 restricted shares during the fiscal year ended March 31, 2020. There are no performance shares included within the 39,000 restricted shares granted that resulted from the Company meeting a performance threshold. During the same period there were approximately 26,000 restricted shares forfeited. With the adoption of ASU 2016-09 on January 1, 2017, the Company no longer reduces stock-based compensation by estimated forfeitures. Instead the Company accounts for forfeitures when they occur. For any vesting tranche of an award, the cumulative amount of compensation cost recognized is at least equal to the portion of the grant‑date value of the award tranche that is actually vested at that date. As of March 31, 2020, there was approximately $208,000 of total unrecognized compensation cost related to non-vested restricted share awards granted under the Equity Plans. That cost is expected to be recognized over a weighted-average period of approximately 1.4 years.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Mar. 31, 2020
Employee Benefits And Share Based Compensation [Abstract]
Employee Benefit Plan	11. Employee Benefit Plan The Company has a 401(k)-retirement plan under which all employees are eligible to participate. Employee contributions are voluntary and subject to Internal Revenue Service limitations. The Company did not make a discretionary matching employee contribution. The Board will re-evaluate the Company’s matching policy for plan year 2020 later in the year.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and 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.

Variable Interest Entity

Variable Interest Entity	12 Months Ended
	Mar. 31, 2020
Variable Interest Entity [Abstract]
Variable Interest Entity	13. Variable Interest Entity In March 2019, the Company entered into a new senior secured credit facility collateralized by customer financed receivables by transferring the receivables into a bankruptcy-remote variable interest entity (VIE). Under the terms of the transaction, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of the asset-backed notes, and then to the residual equity holder. The Company retained the servicing of the portfolio and receives a monthly fee of 2.5% (annualized) based on the outstanding balance of the financed receivables, and the Company currently holds all of the residual equity. In addition, the Company, rather than the VIE, will retain certain credit insurance income together with certain recoveries related to credit insurance and on charge-offs of the financed receivables, which will continue to be reflected as a reduction of net charge-offs on a consolidated basis for as long as the Company consolidates the VIE. The Company consolidated the VIE’s when the Company determines that it is the primary beneficiary, the Company has the power to direct the activities that most significantly impact the performance of the VIE and it has the obligation to absorb losses and has the right to receive residual returns is significant. The Company determined it is the primary beneficiary of the VIE. The assets of the VIE serve as collateral for the obligations of the VIE. The lender has no recourse to assets outside of the VIE. The following table presents the assets and liabilities held by the VIE (for legal purposes, the assets and the liabilities of the VIE will remain distinct from the Company): 2020 2019 Assets Restricted cash $ 7,882 $ 2,047 Finance receivables, net 165,966 187,584 Repossessed assets 1,277 - Total assets $ 175,125 $ 189,631 Liabilities Credit facility $ 124,255 $ 142,619 Accounts payable and accrued expenses 597 - Total liabilities $ 124,852 $ 142,619

Stock Plans

Stock Plans	12 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Stock Plans	14. Stock Plans In May 2019, the Company’s Board of Directors (“Board”) authorized a new stock repurchase program allowing for the repurchase of up to $8.0 million of the Company’s outstanding shares of common stock in open market purchases, privately negotiated transactions, or through other structures in accordance with applicable federal securities laws. The authorization was effective immediately. The timing and actual number of sharers will depend on a variety of factors, including stock price, corporate and regulatory requirements and other market and economic conditions. The Company’s stock repurchase program may be suspended or discontinued at any time. In August 2019, the Company’s Board authorized additional repurchase of up to $1.0 million of the Company’s outstanding shares. The table below summarizes treasury share transactions under the Company’s stock repurchase program. Twelve months ended March 31, (In thousands) 2020 2019 Number of Shares Amount Number of Shares Amount Treasury shares at the beginning of period 4,714 $ (70,459 ) 4,714 $ (70,459 ) Treasury shares purchased 119 (979 ) - - Treasury shares at the end of period 4,833 $ (71,438 ) 4,714 $ (70,459 )

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events Paycheck Protection Program: On May 27, 2020, the Company obtained a loan in the amount of $3,243,900 from Fifth Third Bank in connection with the U.S. Small Business Administration’s Paycheck Protection Program (the “PPP Loan”). Pursuant to the Paycheck Protection Program, all or a portion of the PPP Loan may be forgiven if the Company uses the proceeds of the PPP Loan for its payroll costs and other expenses in accordance with the requirements of the Paycheck Protection Program. The Company intends to use the proceeds of the PPP Loan for payroll costs and other covered expenses and intends to seek full forgiveness of the PPP Loan as soon as permitted under the Paycheck Protection Program. If the PPP Loan is not fully forgiven, the Company will remain liable for the full and punctual payment of the outstanding principal balance plus accrued and unpaid interest. The PPP Loan accrues interest at a rate per annum equal to 1.00% and an initial payment of accrued and unpaid interest is due on December 27, 2020. The outstanding principal balance plus accrued and unpaid interest is due on May 27, 2022. The PPP Loan is unsecured. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. The Promissory Note contains events of default and other provisions customary for a loan of this type. Point Predictive, Inc.: On June 10th 2020 Point Predictive Inc., the San Diego-based company that provides machine learning solutions to lenders, announced today that Nicholas Financial has selected the company’s risk scoring solutions to help them better segment high and low risk applications to improve the customer and dealer experience during the financing process. Share Repurchases: For the period April 1, 2020 through June 21, 2020, the Company repurchased an additional 4,712 shares of our common stock for $27 thousand at an average price of $5.82 per share. The total shares repurchased through June 21, 2020 under the plan in aggregate is 123,751 shares of common stock for $1.0 million at average price of $8.05. COVID-19: The Company has discussed COVID-19 throughout the 10-K, including but not limited, to forward-looking information, Item 1. Business, Item 1A. Risk Factors, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Notes to the Consolidated Financial Statements

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Mar. 31, 2020
Quarterly Financial Data [Abstract]
Quarterly Results of Operations (Unaudited)	16. Quarterly Results of Operations (Unaudited) Fiscal Year ended March 31, 2020 (In thousands, except earnings per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 16,641 $ 15,585 $ 14,973 $ 14,896 Interest expense 2,488 2,298 1,886 1,843 Provision for credit losses 4,385 4,000 4,597 3,919 Non-interest expense 8,971 8,927 7,950 8,584 Operating income before income taxes 797 360 540 550 Income tax expense (benefit) 206 92 229 (1,746 ) Net income $ 591 $ 268 $ 311 $ 2,296 Earnings per share: Basic $ 0.07 $ 0.03 $ 0.04 $ 0.31 Diluted $ 0.07 $ 0.03 $ 0.04 $ 0.31 Fiscal Year ended March 31, 2019 (In thousands, except earnings per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 18,759 $ 19,404 $ 16,740 $ 16,397 Interest expense 2,540 2,386 2,303 2,275 Provision for credit losses 5,426 8,374 7,871 11,165 Non-interest expense 8,801 7,966 7,847 8,934 Operating income before income taxes 1,992 678 (1,281 ) (5,977 ) Income tax expense (benefit) 572 96 (376 ) (1,232 ) Net income (loss) $ 1,420 $ 582 $ (905 ) $ (4,745 ) Earnings (loss) per share: Basic $ 0.18 $ 0.07 $ (0.12 ) $ (0.60 ) Diluted $ 0.18 $ 0.07 $ (0.12 ) $ (0.60 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of Nicholas Financial – Canada and its wholly owned subsidiaries, NDS, NFI, and NF Funding I, collectively referred to as the “Company”. All intercompany transactions and balances have been eliminated.
Segment Reporting	Segment Reporting The Company reports operating segments in accordance with FASB Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting. Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assesses performance. FASB ASC Topic 280 requires that a public enterprise report a measure of segment profit or loss, certain specific revenue and expense items, segment assets, information about the way the operating segments where determined and other items. The Company has one reportable segment, which is the consumer finance company.
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.
Restricted Cash	Restricted Cash Restricted cash includes cash and cash equivalents for which the Company’s ability to withdraw funds is contractually limited. The Company’s restricted cash consist of cash restricted for debt serving of the Company’s variable interest entity.
Finance Receivables	Finance Receivables Finance receivables are recorded at cost, net of unearned dealer discounts, unearned insurance and commissions (see “Revenue Recognition”), and the allowance for credit losses (See Note 3). Beginning in the fiscal year ended March 31, 2019, the Company ceased capitalizing compensation to the dealers. This change resulted in an increase in marketing expenses of approximately $1.0 million for the fiscal year ended March 31, 2019.
Allowance for Credit Losses	Allowance for Credit Losses During the first quarter of the fiscal year ended March 31, 2019, the Company began using the trailing six-month net charge-off percentage, annualized, and applied to ending finance receivables to calculate the allowance for credit losses. This change was made to reflect changes in the Company’s lending policies and underwriting standards, which resulted from the Company changing its business strategies. The Company re-focused on financing primary transportation to and from work for the subprime borrower. This change resulted in purchasing higher yielding loans, with smaller amounts financed and shorter monthly terms. A trailing six-month, annualized, is also more in line with the industry practice, which uses a trailing twelve-month. Management believes a trailing six-month will more accurately reflect changes in the portfolio. Using the prior method (discussed below), the allowance and provision expense for the first quarter of fiscal 2019 would have been approximately $151,000 lower. As of March 2019, the Company changed its charge-off policy from 181 days past due to 121 days past due, which resulted in the Company charging-off approximately $6.4 million of finance receivables during the fourth quarter of fiscal 2019. This one-time charge-off, of approximately $6.4 million, was excluded from the March 31, 2019 allowance for credit losses calculation. In addition, the Company takes into consideration the composition of the portfolio, current economic conditions, estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts when determining management’s estimate of probable credit losses and adequacy of the allowance for credit losses. If the allowance for credit losses is determined to be inadequate, then an additional charge to the provision is recorded to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio. Conversely, the Company could identify abnormalities in the composition of the portfolio, which would indicate the calculation is overstated and management judgement may be required to determine the allowance of credit losses for both Contracts and Direct Loans.
Repossessed Assets	Repossessed Assets Repossessed assets 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 is 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 Software 7 years Leasehold improvements Lesser of lease term or useful life (generally 6 - 7 years)
Goodwill	Goodwill Goodwill represents the excess of the cost of net assets acquired in business combinations over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. Goodwill impairment exists when the fair value of a reporting unit is less than the carrying value. Goodwill is tested for impairment annually, as of the last day of the fiscal year, or more frequently whenever events or changes in circumstances would more likely than not reduce the fair value of a reporting unit below its carrying amount. Goodwill is tested for impairment at the reporting unit level. The Company has one reporting unit, which is the same level as the Company’s one operating segment, the consumer finance company. The Company has the option of either assessing qualitative factors to determine whether it is more likely than not that the carrying value of our reporting unit exceeds its fair value or proceeding directly to a quantitative test. The Company elected to perform the quantitative impairment test at March 31, 2020. The quantitative impairment test compares the fair value of the reporting unit to its carrying value, including goodwill. The fair value of a reporting unit refers to the price that would be received to sell the reporting unit in an orderly transaction between market participants at the measurement date. Quoted market prices in active markets are the best evidence of fair value and shall be used as the basis for the measurement, if available. If the fair value exceeds its carrying value, the goodwill of the reporting unit is not considered impaired. However, if the carrying value of the reporting unit exceeds its fair value, the Company recognizes an impairment loss equal to that excess. As the Company only has one reporting unit, the Company estimated the fair value of the reporting unit using a market based approach, with the primary input being the Company’s market capitalization at the measurement date, adjusted for a control premium. Based upon the impairment test at March 31, 2020, the Company concluded that its recorded balance of goodwill was impaired and recorded an impairment charge of $0.3 million, which resulted in a full write-off of the Company’s goodwill balance (See Note 5).
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company assesses impairment of long-lived assets, including property and equipment and intangible assets, whenever changes or events indicate that the carry amount may not be recoverable. The Company assesses impairment of these assets generally at the branch level based on profitability of the branch and the Company’s plans for branch closings. The Company will write down such assets to fair value, based on operational results, if impairment has occurred. The Company did not record any impairment charges for the long-lived assets for the fiscal year ended 2020 or 2019.
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. There were no unrecognized tax positions as of March 31, 2020 or 2019. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions the Company is no longer subject to U.S. federal and state tax examinations for fiscal years prior to 2016. We are subject to taxation at the federal, state, and local levels in the United States. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”). The changes included in TCJA are broad and complex. The final transition impacts of TCJA may differ from the estimates provided elsewhere in this Annual Report, possibly materially, due to, among other things, changes in interpretations of TCJA, any legislative action to address questions that arise because of TCJA, any changes in accounting standards for income taxes or related interpretations in response to TCJA, or any updates or changes to estimates the Company has utilized to calculate the transition impacts, including impacts from changes to current year earnings estimates. The estimated impact of the new law is based on management’s current knowledge and assumptions and recognized impacts could be materially different from current estimates. The effect on deferred taxes of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. See Note 7 for details regarding the impact of Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) by the U.S. government on March 27, 2020.
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. The Company reverses the accrual of interest income when the loan is contractually delinquent 61 days or more. As of March 2019, non-performing assets, defined as 61 or more days past due, a Chapter 7 bankruptcy account, or a Chapter 13 bankruptcy that has not been confirmed by the courts, for which the accrual of interest income is suspended. Upon confirmation of a bankruptcy chapter 13 (BK13), the account is charged-off. Upon notification of a bankruptcy chapter 7, an account is monitored for collection. In the event the debtors’ balance is reduced by the bankruptcy court, the Company will record a loss equal to the amount of principal balance reduction. The remaining balance will be reduced as payments are received. 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 (see Note 3). A dealer discount represents the difference between the finance receivable 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, 2020 and 2019, were 7.9% and 8.2%, respectively. Unearned insurance and fee commissions 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.
Income (Loss) Per Share	Income (Loss) Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. Earnings (loss) per share is calculated using the two-class method, as such awards are more dilutive under this method than the treasury stock method. Ordinarily, basic earnings per share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Ordinarily, diluted loss per share includes the dilutive effect of additional potential common shares from stock compensation awards. For the year ended March 31, 2020, Company experienced net income. For the year ended March 31, 2019, the Company experienced net loss, which is not allocated to participating securities as their effect is antidilutive. Income (loss) per share has been computed based on the following weighted average number of common shares outstanding: Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2020 2019 Numerator: Net income (loss) per consolidated statements of income (loss) $ 3,466 $ (3,648 ) Less: Allocation of income (loss) to participating securities (32 ) — Net income (loss) allocated to common stock $ 3,434 $ (3,648 ) Basic income (loss) per share computation: Net income (loss) allocated to common stock $ 3,434 $ (3,648 ) Weighted average common shares outstanding, including shares considered participating securities 7,774 7,861 Less: Weighted average participating securities outstanding (72 ) — Weighted average shares of common stock 7,702 7,861 Basic income (loss) per share $ .45 $ (0.46 ) Diluted income (loss) per share computation: Income (loss) allocated to common stock $ 3,434 $ (3,648 ) Undistributed earnings re-allocated to participating securities 32 — Numerator for diluted income (loss) per share $ 3,466 $ (3,648 ) Weighted average common shares outstanding for basic income (loss) per share 7,702 7,861 Incremental shares from stock options 1 — Weighted average shares and dilutive potential common shares 7,703 7,861 Diluted income (loss) per share $ .45 $ (0.46 ) Diluted income (loss) per share does not include the effect of certain stock options as their impact would be anti-dilutive. Approximately
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 restricted shares and performance units are measured at the market price of a share on a grant date. Restricted shares have a three-year service period. Performance units include a performance period (generally ending at the end of the fiscal year in which the units were granted) followed by a two-year service period. At the end of the performance period, these units effectively become restricted shares for the remaining two-year service period at which time they become vested.
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 receivable is a part of finance receivables), and a Credit Facility. Financial instruments that are exposed to concentrations of credit risk are primarily finance receivables and cash. For the year ended, March 31, 2020, the Company operated in 16 states through 43 branch locations. Of the finance receivables total as of March 31, 2020, Florida represented 29%, North Carolina represented 13%, Ohio represented 12%, and Georgia represented 10%. Of the remaining 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.
Variable Interest Entity	Variable Interest Entity In March 2019, the Company entered into a new senior secured credit facility collateralized by customer financed receivables by transferring the receivables into a bankruptcy-remote variable interest entity (VIE). Under the terms of the transaction, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of the asset-backed notes, and then to the residual equity holder. The Company retained the servicing of the portfolio and receives a monthly fee of 2.5% (annualized) based on the outstanding balance of the financed receivables, and the Company currently holds all of the residual equity, monthly fees are eliminated in the consolidated financial statements. In addition, the Company, rather than the VIE, will retain certain credit insurance income together with certain recoveries related to credit insurance and on charge-offs of the financed receivables, which will continue to be reflected as a reduction of net charge-offs on a consolidated basis for as long as the Company consolidates the VIE. The Company consolidated the VIE’s when the Company determines that it is the primary beneficiary, the Company has the power to direct the activities that most significantly impact the performance of the VIE and it has the obligation to absorb losses and has the right to receive residual returns is significant.
Statements of Cash Flows	Statements of Cash Flows Cash paid for income taxes for the years ended March 31, 2020 and 2019 was approximately $6 thousand and $44 thousand, respectively. Cash paid for interest, including debt origination costs for the years ended March 31, 2020 and 2019 was approximately $8.2 million and $11.6 million, respectively.
Reclassifications	Reclassifications Certain prior-period amounts have been reclassified to conform to the current presentation. Such reclassifications had no impact on previously reported net loss or shareholders’ equity.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. ASU 2017-04 also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. The amendments in this update are effective for public entities who are SEC filers for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company adopted the guidance on March 31, 2020 and applied it to the Company’s goodwill impairment test at March 31, 2020 (See Note 5). In February 2016, the FASB issued ASU No. 2016-02, “Leases”, intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. “The ASU will require organizations that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The accounting by organizations that own the assets leased by the lessee—also known as lessor accounting—will remain largely unchanged from current U.S. GAAP. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. Upon adoption, the Company added the impact of the full operating lease terms, using the present value of future minimum lease payments to the balance sheet. The Company adopted the guidance on April 1, 2019 and the adoption of this guidance did not have a material impact on its Consolidated Financial Statements. Recent Accounting Pronouncements In June 2016, the FASB issued the ASU 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable 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, 2020. Recently, the FASB voted to delay the implementation date for this accounting standard, for smaller reporting companies, the new effective date is beginning after December 15, 2022, and early adoption is permitted. 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, the Company believes the adoption of this ASU will likely have a material effect and is expected to increase the overall allowance for credit losses. 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 Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule of property and equipment estimated useful lives	Automobiles 3 years Equipment 5 years Furniture and fixtures 7 years Software 7 years Leasehold improvements Lesser of lease term or useful life (generally 6 - 7 years)
Schedule of computation of basic and diluted earnings (loss) per share	Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2020 2019 Numerator: Net income (loss) per consolidated statements of income (loss) $ 3,466 $ (3,648 ) Less: Allocation of income (loss) to participating securities (32 ) — Net income (loss) allocated to common stock $ 3,434 $ (3,648 ) Basic income (loss) per share computation: Net income (loss) allocated to common stock $ 3,434 $ (3,648 ) Weighted average common shares outstanding, including shares considered participating securities 7,774 7,861 Less: Weighted average participating securities outstanding (72 ) — Weighted average shares of common stock 7,702 7,861 Basic income (loss) per share $ .45 $ (0.46 ) Diluted income (loss) per share computation: Income (loss) allocated to common stock $ 3,434 $ (3,648 ) Undistributed earnings re-allocated to participating securities 32 — Numerator for diluted income (loss) per share $ 3,466 $ (3,648 ) Weighted average common shares outstanding for basic income (loss) per share 7,702 7,861 Incremental shares from stock options 1 — Weighted average shares and dilutive potential common shares 7,703 7,861 Diluted income (loss) per share $ .45 $ (0.46 )

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of finance receivables consisting of automobile finance installment Contracts and Direct Loans	Contracts and Direct Loans included in finance receivables are detailed as follows as of fiscal years ended March 31: (In thousands) 2020 2019 Finance receivables $ 219,366 $ 228,994 Accrued interest receivable 3,164 2,889 Unearned dealer discounts (8,056 ) (10,083 ) Unearned insurance and fee commissions (2,616 ) (2,826 ) Purchase price discount (915 ) - Finance receivables, net of unearned 210,943 218,974 Allowance for credit losses (11,162 ) (16,932 ) Finance receivables, net $ 199,781 $ 202,042
Schedule of activity in allowance for credit losses	The following presents the activity in our allowance for credit losses, shown below and on the next page: For the year ended March 31, 2020 (In thousands) Indirect Direct Total Balance at beginning of year $ 16,575 $ 357 $ 16,932 Provision for credit losses 16,096 805 16,901 Charge-offs (29,174 ) (663 ) (29,837 ) Recoveries* 6,936 230 7,166 Balance at end of year $ 10,433 $ 729 $ 11,162 *For the year ended March 31, 2020, the Company completed bulk sales of charge-off accounts, which included $1.6 million of bankruptcy accounts and $0.1 million of non-performing accounts. For the year ended March 31, 2019 (In thousands) Indirect Direct Total Balance at beginning of year $ 19,433 $ 833 $ 20,266 Provision for credit losses 32,715 121 32,836 Charge-offs (37,514 ) (638 ) (38,152 ) Recoveries 1,941 41 1,982 Balance at end of year $ 16,575 $ 357 $ 16,932
Schedule of an assessment of the credit quality by creditworthiness	The following table is an assessment of the credit quality by creditworthiness as of March 31: (In thousands) 2020 2019 Contracts Direct Loans Total Contracts Direct Loans Total Performing accounts $ 201,045 $ 11,649 $ 212,694 $ 213,542 $ 7,889 $ 221,431 Non-performing accounts 6,202 195 6,397 7,453 110 7,563 Total 207,247 11,844 219,091 220,995 7,999 228,994 Chapter 13 bankruptcy 274 1 275 - - - Finance receivables $ 207,521 $ 11,845 $ 219,366 $ 220,995 $ 7,999 $ 228,994
Schedule of information regarding delinquency rates	The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans, excluding any Chapter 13 bankruptcy accounts: (In thousands) Contracts Balance Outstanding 30 – 59 days 60 –89 days 90-119 days 120+ days Total March 31, 2020 $ 207,247 $ 14,977 $ 4,290 $ 1,893 $ 19 $ 21,179 7.23 % 2.07 % 0.91 % 0.01 % 10.22 % March 31, 2019 $ 220,995 $ 14,897 $ 5,155 $ 2,288 $ 10 $ 22,350 6.74 % 2.33 % 1.04 % 0.00 % 10.11 % Direct Loans Balance Outstanding 30 – 59 days 60 –89 days 90-119 days 120+ days Total March 31, 2020 $ 11,844 $ 344 $ 136 $ 59 — $ 539 2.90 % 1.15 % 0.50 % 0.00 % 4.55 % March 31, 2019 $ 7,999 $ 197 $ 79 $ 31 $ - $ 307 2.46 % 0.99 % 0.39 % 0.00 % 3.84 %

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Schedule of property and equipment	Property and equipment as of March 31, 2020 and 2019 is summarized as follows: (In thousands) Cost Accumulated Depreciation Net Book Value 2020 Automobiles $ 451 $ 396 $ 55 Software 160 23 137 Equipment 1,571 1,439 132 Furniture and fixtures 575 519 56 Leasehold improvements 1,207 1,105 102 $ 3,964 $ 3,482 $ 482 2019 Automobiles $ 488 $ 415 $ 73 Software 127 3 124 Equipment 1,535 1,263 272 Furniture and fixtures 535 465 70 Leasehold improvements 1,187 1,070 117 $ 3,872 $ 3,216 $ 656

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	12 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangibles in its Accounting for Acquisition and Changes in Carrying Amount of Goodwill	The Company recorded the following assets and liabilities in its accounting for this acquisition and the changes in the carrying amount of goodwill, are as shown on the next page. As of March 31, 2020 Acquisitions: Number of branches acquired through business combinations 3 Purchase price $ 20,483 Tangible assets: Finance receivable, net 20,097 Other assets 144 Assumed liabilities (160 ) Total net tangible assets 20,081 Excess of purchase prices over carrying value of net tangible assets $ 402 Indirect dealer network relationships $ 64 Direct customer relationships 43 Goodwill 295 Total goodwill and intangible assets $ 402 For year ended March 31, 2020 Balance as of April 1, 2019 $ - Goodwill acquired during the year 295 Goodwill impairment charge (295 ) Balance as of March 31, 2020 $ -

Credit Facility (Tables)

Credit Facility (Tables)	12 Months Ended
	Mar. 31, 2019
Line Of Credit Facility [Abstract]
Schedule of Future Maturities of Debt	Future maturities of debt as of March 31, 2020 are as follows: (in thousands) Year Ended March 31, 2021 $ — 2022 — 2023 31,707 2024 31,707 2025 31,708 Thereafter 31,708 $ 126,830

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of financial instruments not measured at fair value	Fair Value Measurement Using (In thousands) Fair Carrying Description Level 1 Level 2 Level 3 Value Value Cash and restricted cash: March 31, 2020 $ 24,684 $ — $ — $ 24,684 $ 24,684 March 31, 2019 $ 37,642 $ — $ — $ 37,642 $ 37,642 Finance receivables: March 31, 2020 $ — $ — $ 199,781 $ 199,781 $ 199,781 March 31, 2019 $ — $ — $ 202,042 $ 202,042 $ 202,042 Repossessed assets: March 31, 2020 $ — $ — $ 1,340 $ 1,340 $ 1,340 March 31, 2019 $ — $ — $ 1,924 $ 1,924 $ 1,924 Credit facility: March 31, 2020 $ — $ 126,830 $ — $ 126,830 $ 126,830 March 31, 2019 $ — $ 145,000 $ — $ 145,000 $ 145,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	(In thousands) 2020 2019 Current: Federal $ (4,440 ) $ (39 ) State 6 (66 ) Total current (4,434 ) (105 ) Deferred: Federal 3,008 (844 ) State 207 9 Total deferred 3,215 (835 ) Income tax benefit $ (1,219 ) $ (940 )
Schedule of deferred tax assets and liabilities	(In thousands) Deferred Tax Assets 2020 2019 Allowance for credit losses not currently deductible for tax purposes $ 2,948 $ 4,431 Share-based compensation 320 276 Federal and state net operating loss carryforwards 458 2,293 Right of use liability 462 - Other items 249 201 Total deferred tax assets 4,437 7,201 Deferred tax liabilities Right of use asset 457 - Other items 71 77 Total deferred tax liabilities 528 77 Deferred income taxes $ 3,909 $ 7,124
Schedule of provision (benefit) for income taxes reflects an effective tax rate	(In thousands) 2020 2019 Provision (benefit) for income taxes at Federal statutory rate $ 479 $ (845 ) Increase (decrease) resulting from: Federal Fiscal Year 2020 NOL rate differential (414 ) - Federal Fiscal Year 2019 NOL rate differential (1,362 ) - State income taxes, net of Federal benefit 91 (206 ) Tax Reform – Rate Change - 160 Other (13 ) (49 ) Income tax expense (benefit) $ (1,219 ) $ (940 )

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Summary of future minimum lease payments under non-cancellable operating leases	Future minimum lease payments under non-cancellable operating leases in effect as of March 31, 2020, are as follows: in thousands 2021 $ 1,355 2022 865 2023 495 2024 88 2025 48 Thereafter 185 Total future minimum lease payments 3,036 Present value adjustment (384 ) Operating lease liability $ 2,652
Schedule of lease cost	The following table reports information about the Company’s lease cost for the twelve months ended March 31, 2020 (in thousands): Lease cost: Operating lease cost $ 1,777 Variable lease cost 435 Total lease cost $ 2,212
Schedule of other lease information	The following table reports other information about the Company’s leases for the twelve months ended March 31, 2020 (dollar amounts in thousands): Other Lease Information Operating Lease - Operating Cash Flows (Fixed Payments) $ 1,913 Operating Lease - Operating Cash Flows (Liability Reduction) $ 1,841 Weighted Average Lease Term - Operating Leases 2.5 years Weighted Average Discount Rate - Operating Leases 6.5%

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of option activity under the equity plans	A summary of option activity under the Equity Plans as of March 31, 2020, and changes during the year are presented below. (Shares and Aggregate Intrinsic Value in thousands) Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at March 31, 2019 72 $ 10.71 4.10 $ 51 Granted — — Exercised (2 ) 3.49 Forfeited (8 ) 12.02 Outstanding at March 31, 2020 62 $ 11.67 3.13 $ - Exercisable at March 31, 2020 57 $ 10.63 2.70 $ -
Schedule of non-vested restricted shares under the equity plan	A summary of the status of the Company’s non-vested restricted shares under the Equity Plan as of March 31, 2020, and changes during the year then ended is presented below. (Shares and Aggregate Intrinsic Value in thousands) Restricted Share Awards Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Non-vested at March 31, 2019 45 $ 10.51 1.96 404 Granted 39 9.47 Vested (8 ) 9.49 Forfeited (26 ) 10.57 Non-vested at March 31, 2020 50 $ 9.65 1.40 $ 341

Variable Interest Entity (Table

Variable Interest Entity (Tables)	12 Months Ended
	Mar. 31, 2020
Variable Interest Entity [Abstract]
Schedule of Assets and Liabilities Held by VIE	The following table presents the assets and liabilities held by the VIE (for legal purposes, the assets and the liabilities of the VIE will remain distinct from the Company): 2020 2019 Assets Restricted cash $ 7,882 $ 2,047 Finance receivables, net 165,966 187,584 Repossessed assets 1,277 - Total assets $ 175,125 $ 189,631 Liabilities Credit facility $ 124,255 $ 142,619 Accounts payable and accrued expenses 597 - Total liabilities $ 124,852 $ 142,619

Stock Plans (Tables)

Stock Plans (Tables)	12 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Summary of Treasury Share Transactions Under the Company's Stock Repurchase Program	The table below summarizes treasury share transactions under the Company’s stock repurchase program. Twelve months ended March 31, (In thousands) 2020 2019 Number of Shares Amount Number of Shares Amount Treasury shares at the beginning of period 4,714 $ (70,459 ) 4,714 $ (70,459 ) Treasury shares purchased 119 (979 ) - - Treasury shares at the end of period 4,833 $ (71,438 ) 4,714 $ (70,459 )

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2020
Quarterly Financial Data [Abstract]
Schedule of quarterly results of operations	Fiscal Year ended March 31, 2020 (In thousands, except earnings per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 16,641 $ 15,585 $ 14,973 $ 14,896 Interest expense 2,488 2,298 1,886 1,843 Provision for credit losses 4,385 4,000 4,597 3,919 Non-interest expense 8,971 8,927 7,950 8,584 Operating income before income taxes 797 360 540 550 Income tax expense (benefit) 206 92 229 (1,746 ) Net income $ 591 $ 268 $ 311 $ 2,296 Earnings per share: Basic $ 0.07 $ 0.03 $ 0.04 $ 0.31 Diluted $ 0.07 $ 0.03 $ 0.04 $ 0.31 Fiscal Year ended March 31, 2019 (In thousands, except earnings per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 18,759 $ 19,404 $ 16,740 $ 16,397 Interest expense 2,540 2,386 2,303 2,275 Provision for credit losses 5,426 8,374 7,871 11,165 Non-interest expense 8,801 7,966 7,847 8,934 Operating income before income taxes 1,992 678 (1,281 ) (5,977 ) Income tax expense (benefit) 572 96 (376 ) (1,232 ) Net income (loss) $ 1,420 $ 582 $ (905 ) $ (4,745 ) Earnings (loss) per share: Basic $ 0.18 $ 0.07 $ (0.12 ) $ (0.60 ) Diluted $ 0.18 $ 0.07 $ (0.12 ) $ (0.60 )

Organization and Basis of Pre_2

Organization and Basis of Presentation (Detail Textuals)	12 Months Ended
	Mar. 31, 2020Subsidiary
United States
Organization And Basis Of Presentation [Line Items]
Number of subsidiaries	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Detail Textuals)	Feb. 28, 2019	Mar. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2020USD ($)SegmentUnit	Mar. 31, 2019USD ($)
Significant Accounting Policies [Line Items]
Number of reportable segments | Segment					1
Increase in marketing expenses						$ 1,000,000
Allowance for credit losses and provision expense				$ 151,000
Charge-offs			$ 6,400,000
Number of reporting unit | Unit					1
Goodwill impairment charge					$ 295,000
Uncertain tax positions		$ 0	$ 0		$ 0	$ 0
Interest income accrual on finance receivables suspension condition					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. As of February 2019, Chapter 13 bankruptcy accounts are charged-off. Prior to February 2019, Chapter 13 bankruptcy accounts were accounted for under the cost-recovery method.
Average dealer discount associated with new volume					7.90%	8.20%
Monthly servicing fee percent of outstanding financed receivables		2.50%
Maximum
Significant Accounting Policies [Line Items]
Criteria for receivable to be delinquent account	181 days					181 days
Minimum
Significant Accounting Policies [Line Items]
Criteria for receivable to be delinquent account	121 days					121 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of estimated useful lives of assets (Details)	12 Months Ended
	Mar. 31, 2020
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
Software
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 Accoun_6

Summary of Significant Accounting Policies - Basic and diluted loss per share (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net income (loss) per consolidated statements of income (loss)	$ 2,296	$ 311	$ 268	$ 591	$ (4,745)	$ (905)	$ 582	$ 1,420	$ 3,466	$ (3,648)
Less: Allocation of income (loss) to participating securities									(32)
Net income (loss) allocated to common stock									3,434	(3,648)
Basic income (loss) per share computation:
Net income (loss) allocated to common stock									$ 3,434	$ (3,648)
Weighted average common shares outstanding, including shares considered participating securities									7,774	7,861
Less: Weighted average participating securities outstanding									(72)
Weighted average shares of common stock									7,702	7,861
Basic income (loss) per share	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ (0.60)	$ (0.12)	$ 0.07	$ 0.18	$ 0.45	$ (0.46)
Diluted income (loss) per share computation:
Income (loss) allocated to common stock									$ 3,434	$ (3,648)
Undistributed earnings re-allocated to participating securities									32
Numerator for diluted income (loss) per share									$ 3,466	$ (3,648)
Weighted average common shares outstanding for basic income (loss) per share									7,702	7,861
Incremental shares from stock options									1
Weighted average shares and dilutive potential common shares									7,703	7,861
Diluted income (loss) per share	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ (0.60)	$ (0.12)	$ 0.07	$ 0.18	$ 0.45	$ (0.46)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Detail Textuals 1)	12 Months Ended
	Mar. 31, 2019shares
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of stock options not included in the computation of diluted income (loss) per share	68,600

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Detail Textuals 2)	12 Months Ended
	Mar. 31, 2020StateBranch
Significant Accounting Policies [Line Items]
Number of states in which entity operates | State	16
Number of branches | Branch	43
Finance receivables
Significant Accounting Policies [Line Items]
Concentration benchmark	Of the remaining states, no one state represented more than 5% of the total finance receivables.
Finance receivables | Florida | Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	29.00%
Finance receivables | North Carolina | Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	13.00%
Finance receivables | Ohio | Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	12.00%
Finance receivables | Georgia | Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	10.00%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Detail Textuals 3) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Cash paid for income taxes	$ 6	$ 44
Cash paid for interest, including debt origination costs, during the year	$ 8,187	$ 11,600

Finance Receivables (Detail Tex

Finance Receivables (Detail Textuals) - USD ($)	Feb. 28, 2019	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Charge-offs		$ 6,400,000
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Average contractual interest rate		26.00%	27.30%	26.00%
Percentage of direct loan to total loan portfolio			5.00%
Finance receivables
Accounts Notes And Loans Receivable [Line Items]
Charge-offs			$ 29,837,000	$ 38,152,000
Finance receivables | Contracts
Accounts Notes And Loans Receivable [Line Items]
Average contractual interest rate		22.70%	22.60%	22.70%
Maximum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account	181 days			181 days
Maximum | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Finance receivables, net			$ 15,000
Initial term of the direct finance receivables			72 months
Maximum | Finance receivables | Contracts
Accounts Notes And Loans Receivable [Line Items]
Initial term of the indirect finance receivables			60 months
Minimum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account	121 days			121 days
Minimum | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Finance receivables, net			$ 1,000
Initial term of the direct finance receivables			12 months
Minimum | Finance receivables | Contracts
Accounts Notes And Loans Receivable [Line Items]
Initial term of the indirect finance receivables			12 months

Finance Receivables - Summary o

Finance Receivables - Summary of contracts and direct loans included in finance receivables (Details) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Accounts Notes And Loans Receivable [Line Items]
Allowance for credit losses	$ (11,162)	$ (16,932)	$ (20,266)
Contracts and direct loans
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	219,366	228,994
Accrued interest receivable	3,164	2,889
Unearned dealer discounts	(8,056)	(10,083)
Unearned insurance and fee commissions	(2,616)	(2,826)
Purchase price discount	(915)
Finance receivables, net of unearned	210,943	218,974
Allowance for credit losses	(11,162)	(16,932)
Finance receivables, net	$ 199,781	$ 202,042

Finance Receivables - Activity

Finance Receivables - Activity in allowance for credit losses (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Provision for credit losses	$ 3,919	$ 4,597	$ 4,000	$ 4,385	$ 11,165	$ 7,871	$ 8,374	$ 5,426	$ 16,901	$ 32,836
Charge-offs					(6,400)
Finance receivables
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of year				16,932				20,266	16,932	20,266
Provision for credit losses									16,901	32,836
Charge-offs									(29,837)	(38,152)
Recoveries									7,166	1,982
Balance at end of year	11,162				16,932				11,162	16,932
Finance receivables | Indirect
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of year				16,575				19,433	16,575	19,433
Provision for credit losses									16,096	32,715
Charge-offs									(29,174)	(37,514)
Recoveries									6,936	1,941
Balance at end of year	10,433				16,575				10,433	16,575
Finance receivables | Direct
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of year				$ 357				$ 833	357	833
Provision for credit losses									805	121
Charge-offs									(663)	(638)
Recoveries									230	41
Balance at end of year	$ 729				$ 357				$ 729	$ 357

Finance Receivables - Activit_2

Finance Receivables - Activity in allowance for credit losses (Parenthetical) (Details 1) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Charge-offs	$ 6.4
Non-performing accounts
Accounts Notes And Loans Receivable [Line Items]
Charge-offs		$ 0.1
Bankruptcy
Accounts Notes And Loans Receivable [Line Items]
Charge-offs		$ 1.6

Finance Receivables (Detail T_2

Finance Receivables (Detail Textuals 1)	Feb. 28, 2019	Mar. 31, 2020	Mar. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Maximum criteria for receivable to be a performing account		61 days
Percentage of more than payment contractually for delinquent		25.00%
Minimum criteria for receivable to be a non-performing account		61 days
Maximum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account	181 days		181 days
Minimum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account	121 days		121 days

Finance Receivables - Assessmen

Finance Receivables - Assessment of credit quality by creditworthiness (Details 2) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Total	$ 219,091	$ 228,994
Finance receivables	219,366	228,994
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	11,844	7,999
Finance receivables	11,845	7,999
Performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	212,694	221,431
Performing accounts | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	11,649	7,889
Non-performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	6,397	7,563
Non-performing accounts | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	195	110
Chapter 13 bankruptcy
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	275
Chapter 13 bankruptcy | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	1
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	207,247	220,995
Finance receivables	207,521	220,995
Contract Portfolio | Performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	201,045	213,542
Contract Portfolio | Non-performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	6,202	$ 7,453
Contract Portfolio | Chapter 13 bankruptcy
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	$ 274

Finance Receivables - Informati

Finance Receivables - Information regarding delinquency rates with respect to contracts and direct loans (Details 3) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	$ 219,091	$ 228,994
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	11,844	7,999
Total	$ 539	$ 307
Total (in percentage)	4.55%	3.84%
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	$ 207,247	$ 220,995
Total	$ 21,179	$ 22,350
Total (in percentage)	10.22%	10.11%
30 - 59 days | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 344	$ 197
Total (in percentage)	2.90%	2.46%
30 - 59 days | Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 14,977	$ 14,897
Total (in percentage)	7.23%	6.74%
60 – 89 days | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 136	$ 79
Total (in percentage)	1.15%	0.99%
60 – 89 days | Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 4,290	$ 5,155
Total (in percentage)	2.07%	2.33%
90 - 119 days | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 59	$ 31
Total (in percentage)	0.50%	0.39%
90 - 119 days | Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 1,893	$ 2,288
Total (in percentage)	0.91%	1.04%
120+ days | Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total (in percentage)	0.00%	0.00%
120+ days | Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 19	$ 10
Total (in percentage)	0.01%	0.00%

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Line Items]
Cost	$ 3,964	$ 3,872
Accumulated Depreciation	3,482	3,216
Net Book Value	482	656
Automobiles
Property, Plant and Equipment [Line Items]
Cost	451	488
Accumulated Depreciation	396	415
Net Book Value	55	73
Software
Property, Plant and Equipment [Line Items]
Cost	160	127
Accumulated Depreciation	23	3
Net Book Value	137	124
Equipment
Property, Plant and Equipment [Line Items]
Cost	1,571	1,535
Accumulated Depreciation	1,439	1,263
Net Book Value	132	272
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Cost	575	535
Accumulated Depreciation	519	465
Net Book Value	56	70
Leasehold improvements
Property, Plant and Equipment [Line Items]
Cost	1,207	1,187
Accumulated Depreciation	1,105	1,070
Net Book Value	$ 102	$ 117

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Detail Textuals) $ / shares in Units, shares in Thousands	Apr. 30, 2019Branch	Mar. 31, 2020USD ($)Segment$ / sharesshares	Mar. 31, 2019shares
Business Acquisition [Line Items]
Number of operating segments | Segment		1
Number of reportable segments | Segment		1
Common stock, shares outstanding | shares		7,806	7,910
Goodwill impairment loss to be recognized		$ 295,000
Metrolina
Business Acquisition [Line Items]
Acquisition completion date	Apr. 30, 2019
Number of branches acquired | Branch	3
Share price | $ / shares		$ 5.84
Average share price | $ / shares		$ 8.51
Common stock, shares outstanding | shares		7,800
Goodwill impairment loss to be recognized		$ 300,000
Expense related to asset acquisition		$ 278,000
Metrolina | North Carolina
Business Acquisition [Line Items]
Number of branches acquired | Branch	2
Metrolina | South Carolina
Business Acquisition [Line Items]
Number of branches acquired | Branch	1
Metrolina | Minimum
Business Acquisition [Line Items]
Fair value of a reporting unit is less than its carrying amount		50.00%
Metrolina | Maximum
Business Acquisition [Line Items]
Carrying amount of the reporting unit		$ 107,600,000

Goodwill and Intangibles (Det_2

Goodwill and Intangibles (Details) - Metrolina $ in Thousands	Mar. 31, 2020USD ($)Branch
Business Acquisition [Line Items]
Number of branches acquired through business combinations | Branch	3
Purchase price	$ 20,483
Tangible assets:
Finance receivable, net	20,097
Other assets	144
Assumed liabilities	(160)
Total net tangible assets	20,081
Excess of purchase prices over carrying value of net tangible assets	402
Goodwill	295
Total goodwill and intangible assets	402
Indirect Dealer Network Relationships
Tangible assets:
Intangible assets	64
Direct Customer Relationships
Tangible assets:
Intangible assets	$ 43

Goodwill and Intangibles - Summ

Goodwill and Intangibles - Summary of Goodwill (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill acquired during the year	$ 295
Goodwill impairment charge	$ (295)

Credit Facility (Detail Textual

Credit Facility (Detail Textuals) - Senior Secured Credit Facility - USD ($)	Mar. 29, 2019	Mar. 31, 2020
Line Of Credit Facility [Line Items]
Line of credit facility amount	$ 175,000,000
Debt instrument description of variable rate basis		outstanding advances under the Credit Facility will accrue interest at a rate of LIBOR
Debt Instrument, Basis Spread on Variable Rate	3.75%
Commitment period for advances under Credit Facility	3 years
Amortization period over which outstanding balance of credit facility is paid off	4 years
Maximum
Line Of Credit Facility [Line Items]
Credit Facility available as percentage of value of non-delinquent receivables	82.50%
Percentage of borrowers obligation under credit agreement	10.00%

Credit Facility - Schedule of F

Credit Facility - Schedule of Future Maturities of Debt (Detail) $ in Thousands	Mar. 31, 2020USD ($)
Long Term Debt By Maturity [Abstract]
2023	$ 31,707
2024	31,707
2025	31,708
Thereafter	31,708
Future maturities of debt	$ 126,830

Fair Value Disclosures (Detail

Fair Value Disclosures (Detail Textuals)	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2020
Contract Portfolio | Minimum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial terms of finance receivables		12 months
Contract Portfolio | Maximum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial terms of finance receivables	60 months	72 months
Direct Loans | Minimum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial terms of finance receivables		12 months
Direct Loans | Maximum
Financial Instruments Not Measured At Fair Value [Line Items]
Initial terms of finance receivables		60 months

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of financial instruments not measured at fair value (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	$ 24,684	$ 37,642
Finance receivables	199,781	202,042
Repossessed assets:	1,340	1,924
Credit facility	126,830	145,000
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	24,684	37,642
Finance receivables	199,781	202,042
Repossessed assets:	1,340	1,924
Credit facility	126,830	145,000
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	24,684	37,642
Finance receivables	0	0
Repossessed assets:	0	0
Credit facility	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	0	0
Finance receivables	0	0
Repossessed assets:	0	0
Credit facility	126,830	145,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	0	0
Finance receivables	199,781	202,042
Repossessed assets:	1,340	1,924
Credit facility	$ 0	$ 0

Income Taxes - Provision for in

Income Taxes - Provision for income taxes (income tax benefits) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019
Current:
Federal									$ (4,440)	$ (39)
State									6	(66)
Total current									(4,434)	(105)
Deferred:
Federal									3,008	(844)
State									207	9
Total deferred									3,215	(835)
Income tax expense (benefit)	$ (1,746)	$ 229	$ 92	$ 206	$ (1,232)	$ (376)	$ 96	$ 572	$ (1,219)	$ (940)

Income Taxes - Significant comp

Income Taxes - Significant components of the company's deferred tax assets (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Deferred Tax Assets
Allowance for credit losses not currently deductible for tax purposes	$ 2,948	$ 4,431
Share-based compensation	320	276
Federal and state net operating loss carryforwards	458	2,293
Right of use liability	462
Other items	249	201
Total deferred tax assets	4,437	7,201
Deferred tax liabilities
Right of use asset	457
Other items	71	77
Total deferred tax liabilities	528	77
Deferred income taxes	$ 3,909	$ 7,124

Income Taxes - Provision (benef

Income Taxes - Provision (benefit) 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, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Income Taxes [Line Items]
Provision (benefit) for income taxes at Federal statutory rate									$ 479	$ (845)
Increase (decrease) resulting from:
State income taxes, net of Federal benefit									91	(206)
Tax Reform – Rate Change										160
Other									(13)	(49)
Income tax expense (benefit)	$ (1,746)	$ 229	$ 92	$ 206	$ (1,232)	$ (376)	$ 96	$ 572	(1,219)	$ (940)
Fiscal Year 2020 Net Operating Losses
Increase (decrease) resulting from:
Federal NOL rate differential									(414)
Fiscal Year 2019 Net Operating Losses
Increase (decrease) resulting from:
Federal NOL rate differential									$ (1,362)

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	Mar. 27, 2020	Dec. 31, 2017	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Income Taxes [Line Items]
Income tax benefit			$ 1,746	$ (229)	$ (92)	$ (206)	$ 1,232	$ 376	$ (96)	$ (572)	$ 1,219	$ 940
Federal income tax rate	21.00%	35.00%
Undistributed earnings			$ 144,200								$ 144,200
"CARES Act"
Schedule Of Income Taxes [Line Items]
Decrease in effective tax rate											(54.30%)	20.50%
"CARES Act" | Fiscal Year 2019 Net Operating Losses
Schedule Of Income Taxes [Line Items]
Net operating losses carryback	$ 9,700
Income tax refund	3,500
Income tax benefit	1,400
"CARES Act" | Fiscal Year 2020 Net Operating Losses
Schedule Of Income Taxes [Line Items]
Net operating losses carryback	3,000
Income tax refund	1,000
Income tax benefit	$ 400

Leases (Detail Textuals)

Leases (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee Lease Description [Line Items]
Operating lease, liability	$ 2,652
Operating lease, right-of-use asset	2,598
Rent expense	$ 2,200	$ 2,600
Branch network lease agreement
Lessee Lease Description [Line Items]
Operating lease, existence of option to extend	true
Operating lease minimum term to extend	1 year
Operating lease maximum term to extend	3 years
Corporate headquarters lease agreement
Lessee Lease Description [Line Items]
Operating lease expiration period	2020-04
Minimum | Branch network lease agreement
Lessee Lease Description [Line Items]
Operating lease, term of contract	1 year
Maximum | Branch network lease agreement
Lessee Lease Description [Line Items]
Operating lease, term of contract	5 years

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments under Non-cancellable Operating Leases (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
2021	$ 1,355
2022	865
2023	495
2024	88
2025	48
Thereafter	185
Total future minimum lease payments	3,036
Present value adjustment	(384)
Operating lease liability	$ 2,652

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
Lease cost:
Operating lease cost	$ 1,777
Variable lease cost	435
Total lease cost	$ 2,212

Leases - Schedule of Other Leas

Leases - Schedule of Other Lease Information (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
Other Lease Information
Operating Lease - Operating Cash Flows (Fixed Payments)	$ 1,913
Operating Lease - Operating Cash Flows (Liability Reduction)	$ 1,841
Weighted Average Lease Term - Operating Leases	2 years 6 months
Weighted Average Discount Rate - Operating Leases	6.50%

Share-Based Payments (Detail Te

Share-Based Payments (Detail Textuals)	12 Months Ended
	Mar. 31, 2020USD ($)EquityPlanshares	Mar. 31, 2019USD ($)	Aug. 13, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | EquityPlan	2
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised | $	$ 7,000	$ 98,000
2006 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to grant	1,100,000
Contractual terms of options granted	10 years
2006 Plan | Stock options | Employees and directors | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock awards	3 years
2006 Plan | Stock options | Employees and directors | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock awards	5 years
2006 Plan | Restricted stock
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 - Summary

Share-Based Payments - Summary of option activity under the equity plans (Details) - Stock options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Shares
Exercised	(2,000)	(12,000)
Forfeited	(8,000)	(67,000)
Equity Plans
Shares
Outstanding at March 31, 2019	72,000
Granted	0
Exercised	(2,000)
Forfeited	(8,000)
Outstanding at March 31, 2020	62,000	72,000
Exercisable at March 31, 2020	57,000
Weighted Average Exercise Price
Outstanding at March 31, 2019	$ 10.71
Granted	0
Exercised	3.49
Forfeited	12.02
Outstanding at March 31, 2020	11.67	$ 10.71
Exercisable at March 31, 2020	$ 10.63
Weighted Average Remaining Contractual Term
Outstanding at March 31	3 years 1 month 17 days	4 years 1 month 6 days
Exercisable at March 31, 2020	2 years 8 months 12 days
Aggregate Intrinsic Value
Outstanding at March 31		$ 51

Share-Based Payments (Detail _2

Share-Based Payments (Detail Textuals 1) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of option	$ 5,000	$ 16,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options exercised	2,000	12,000
Number of stock options forfeited	8,000	67,000
Unrecognized compensation cost	$ 0	$ 10,000
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised	$ 1.20	$ 0.77
Exercise price of stock options forfeited	10.87	10.87
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised	4.18	4.18
Exercise price of stock options forfeited	$ 12.68	$ 14.36
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 208,000
Number of shares awarded	39,000
Number of share granted employees maximum account reached	39,000
Number of performance shares forfeited	26,000
Weighted-average period expected to be recognized	1 year 4 months 24 days

Share-Based Payments - Summar_2

Share-Based Payments - Summary of the status of the company's non-vested restricted shares (Details 1) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Shares
Granted	39,000
Forfeited	(26,000)
Equity Plans
Shares
Non-vested at March 31, 2019	45,000
Granted	39,000
Vested	(8,000)
Forfeited	(26,000)
Non-vested at March 31, 2020	50,000	45,000
Weighted Average Grant Date Fair Value
Non-vested at March 31, 2019	$ 10.51
Granted	9.47
Vested	9.49
Forfeited	10.57
Non-vested at March 31, 2020	$ 9.65	$ 10.51
Weighted Average Remaining Contractual Term
Non-vested at March 31	1 year 4 months 24 days	1 year 11 months 15 days
Aggregate Intrinsic Value
Non-vested at March 31	$ 341	$ 404

Variable Interest Entity (Detai

Variable Interest Entity (Detail Textuals) - USD ($)	1 Months Ended
	Mar. 31, 2019	Mar. 31, 2020
Variable Interest Entity [Abstract]
Monthly servicing fee percent of outstanding financed receivables	2.50%
Recourse to assets		$ 0

Variable Interest Entity - Summ

Variable Interest Entity - Summary of Assets and Liabilities Held by VIE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Assets
Restricted cash	$ 7,882	$ 2,047
Finance receivables, net	199,781	202,042
Repossessed assets	1,340	1,924
Total assets	238,818	252,420
Liabilities
Credit facility	126,830	145,000
Accounts payable and accrued expenses	4,332	4,916
Total liabilities	131,239	147,535
Variable Interest Entity
Assets
Restricted cash	7,882	2,047
Finance receivables, net	165,966	187,584
Repossessed assets	1,277
Total assets	175,125	189,631
Liabilities
Credit facility	124,255	142,619
Accounts payable and accrued expenses	597
Total liabilities	$ 124,852	$ 142,619

Stock Plans (Detail Textuals)

Stock Plans (Detail Textuals) - USD ($)	Aug. 31, 2019	May 31, 2019
New Stock Repurchase Program | Common Stock
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 1,000,000	$ 8,000,000

Stock Plans - Summary of Treasu

Stock Plans - Summary of Treasury Share Transactions Under the Company's Stock Repurchase Program (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Treasury shares at the beginning of period, Number of Shares	4,714	4,714
Treasury shares purchased, Number of Shares	119	0
Treasury shares at the end of period, Number of Shares	4,833	4,714
Treasury shares at the beginning of period, Amount	$ (70,459)	$ (70,459)
Treasury shares purchased, Amount	(979)	0
Treasury shares at the end of period, Amount	$ (71,438)	$ (70,459)

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - USD ($)	May 27, 2020	Jun. 21, 2020	Mar. 31, 2020	Mar. 31, 2019	Jun. 21, 2020
Debt Instrument [Line Items]
Number of shares repurchased			119,000	0
Aggregate cost of shares repurchased			$ 979,000	$ 0
Subsequent Event
Debt Instrument [Line Items]
Number of shares repurchased		4,712			123,751
Aggregate cost of shares repurchased		$ 27,000			$ 1,000,000
Shares repurchased, average cost per share		$ 5.82			$ 8.05
Subsequent Event | Paycheck Protection Program | Fifth Third Bank
Debt Instrument [Line Items]
Loan obtained	$ 3,243,900
Loan interest rate	1.00%
Accrued and unpaid initial payment date	Dec. 27, 2020
Loan maturity date	May 27, 2022
Prepayment penalties upon early repayment	$ 0

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) - Summary (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019
Quarterly Financial Data [Abstract]
Total revenue	$ 14,896	$ 14,973	$ 15,585	$ 16,641	$ 16,397	$ 16,740	$ 19,404	$ 18,759
Interest expense	1,843	1,886	2,298	2,488	2,275	2,303	2,386	2,540	$ 8,515	$ 9,504
Provision for credit losses	3,919	4,597	4,000	4,385	11,165	7,871	8,374	5,426	16,901	32,836
Non-interest expense	8,584	7,950	8,927	8,971	8,934	7,847	7,966	8,801
Operating income (loss) before income taxes	550	540	360	797	(5,977)	(1,281)	678	1,992	2,247	(4,588)
Income tax expense (benefit)	(1,746)	229	92	206	(1,232)	(376)	96	572	(1,219)	(940)
Net income (loss)	$ 2,296	$ 311	$ 268	$ 591	$ (4,745)	$ (905)	$ 582	$ 1,420	$ 3,466	$ (3,648)
Basic (in dollars per share)	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ (0.60)	$ (0.12)	$ 0.07	$ 0.18	$ 0.45	$ (0.46)
Diluted (in dollars per share)	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ (0.60)	$ (0.12)	$ 0.07	$ 0.18	$ 0.45	$ (0.46)