Old Market Capital (OMCC) 10-K22 Jun 212021 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2021	Jun. 19, 2021	Sep. 30, 2020
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			$ 36.3
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	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 2021 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, 2021	Mar. 31, 2020
Assets
Cash	$ 22,022	$ 16,802
Restricted cash	10,955	7,882
Finance receivables, net	170,318	199,781
Repossessed assets	685	1,340
Operating lease right-of-use assets	3,392	2,598
Prepaid expenses and other assets	1,271	1,126
Income taxes receivable	653	4,898
Property and equipment, net	859	482
Deferred income taxes	2,283	3,909
Total assets	212,438	238,818
Liabilities and shareholders’ equity
Credit facility, net of debt issuance costs	86,154	124,255
Note payable	3,244
Net long-term debt	89,398	124,255
Operating lease liabilities	3,367	2,652
Accounts payable and accrued expenses	4,451	4,332
Total liabilities	97,216	131,239
Shareholders’ equity:
Preferred stock, no par: 5,000 shares authorized; none issued
Common stock, no par: 50,000 shares authorized; 12,653 and 12,639 shares issued respectively; 7,708 and 7,806 shares outstanding, respectively	35,064	34,867
Treasury stock: 4,945 and 4,833 common shares, at cost, respectively	(72,343)	(71,438)
Retained earnings	152,501	144,150
Total shareholders’ equity	115,222	107,579
Total liabilities and shareholders’ equity	212,438	238,818
Variable Interest Entity
Assets
Restricted cash	10,955	7,882
Finance receivables, net	150,706	165,966
Repossessed assets	631	1,277
Total assets	162,292	175,125
Liabilities and shareholders’ equity
Credit facility, net of debt issuance costs	86,154	124,255
Accounts payable and accrued expenses	405	597
Total liabilities	$ 86,559	$ 124,852

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2021	Mar. 31, 2020
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	12,653	12,639
Common stock, shares outstanding	7,708	7,806
Treasury stock, shares	4,945	4,833

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Interest and fee income on finance receivables	$ 54,211	$ 62,095
Realized gain on equity investments	1,809
Total revenue	56,020	62,095
Expenses:
Marketing	1,269	1,548
Salaries and employee benefits	19,083	18,804
Administrative	11,248	13,393
Provision for credit losses	7,250	16,901
Amortization of intangibles	13	55
Depreciation	231	337
Goodwill impairment charge		295
Interest expense	5,980	8,515
Total expenses	45,074	59,848
Operating income before income taxes	10,946	2,247
Income tax expense (benefit)	2,595	(1,219)
Net income	$ 8,351	$ 3,466
Earnings per share:
Basic (in dollars per share)	$ 1.09	$ 0.45
Diluted (in dollars per share)	$ 1.09	$ 0.45

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, 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	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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,351			8,351
Issuance of restricted stock awards (in shares)		14
Treasury stock repurchases	(905)		(905)
Treasury stock repurchases (in shares)		(112)
Share-based compensation	197	$ 197
Balance at Mar. 31, 2021	$ 115,222	$ 35,064	$ (72,343)	$ 152,501
Balance (in shares) at Mar. 31, 2021		7,708

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 8,351	$ 3,466
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	231	337
Amortization of intangibles	13	55
Amortization of debt issuance costs	429	429
Amortization of operating of lease right-of-use assets	1,593	1,913
Gain on sale of property and equipment	(13)	(23)
Goodwill impairment charge		295
Purchases of equity investments	(4,142)
Proceeds from equity investments	5,951
Realized gains on equity investments	(1,809)
Repossessed assets	655	677
Provision for credit losses	7,250	16,901
Amortization of dealer discounts	(6,421)	(8,031)
Amortization of insurance and fee commissions	(2,370)	(2,615)
Accretion of purchase price discount	(551)	(746)
Deferred income taxes	1,626	3,215
Principal reduction on operating lease liabilities	(1,193)	(1,841)
Share-based compensation	197	202
Changes in operating assets and liabilities:
Accrued interest receivable	879	(275)
Prepaid expenses and other assets	(145)	304
Accounts payable and accrued expenses	(373)	(744)
Income taxes receivable	4,245	(3,244)
Unearned insurance and fee commissions	220	210
Net cash provided by operating activities	14,623	10,485
Cash flows from investing activities:
Purchase and origination of finance receivables	(88,173)	(89,334)
Principal payments received	118,629	106,248
Net assets acquired from branch acquisitions, primarily loans		(20,483)
Purchase of property and equipment	(615)	(130)
Proceeds from sale of property and equipment	20	23
Net cash provided by (used in) investing activities	29,861	(3,676)
Cash flows from financing activities:
Repayments on credit facility	(38,530)	(38,950)
Proceeds from the credit facility		20,780
Payment of loan originations fees		(623)
Proceeds from PPP Loan	3,244
Proceeds from exercise of stock options	0	5
Repurchases of treasury stock	(905)	(979)
Net cash used in financing activities	(36,191)	(19,767)
Net increase (decrease) in cash	8,293	(12,958)
Cash and restricted cash, beginning of year	24,684	37,642
Cash and restricted cash, end of year	32,977	24,684
Supplemental Disclosures:
Interest paid, including debt originations cost, during the year	5,714	8,187
Income taxes paid during the year	1,357	6
Leased assets obtained in exchange for new operating lease liabilities	2,067	4,058
Cash	22,022	16,802
Restricted cash	10,955	7,882
Cash and restricted cash, end of year	$ 32,977	$ 24,684

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
Organization and Basis of Presentation	Mar. 31, 2021
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
Summary of Significant Accounting Policies	Mar. 31, 2021
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). Allowance for Credit Losses The Company uses trailing six-month net charge-offs as a percentage of average finance receivables, annualized and applies this calculated percentage to ending finance receivables to calculate estimated future probable credit losses for purposes of determining the allowance for credit losses. The Company then takes into consideration the composition of its portfolio, current economic conditions, estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts and adjusts the above, if necessary, to determine management’s total estimate of probable credit losses and its assessment of the overall adequacy of the allowance for credit losses. Management utilizes significant judgment in determining probable incurred losses and in identifying and evaluating qualitative factors. Use of a trailing six-month net charge-off percentage reflects the Company lending policies, underwriting standards, and aligns with business strategies to finance primary transportation to and from work for the subprime borrower. 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, 2021 and March 31, 2020, respectively. 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. In fiscal year 2021, no purchases accounting transactions were executed by the Company and no goodwill was recorded. The goodwill balance remains at $0 at March 31, 2021. (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 March 31, 2021 or 2020. 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, 2021 or 2020. 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 2017. 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 8 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. The Company defines a non-performing asset as one that is 61 or more days past due, a Chapter 7 bankruptcy account, or a Chapter 13 bankruptcy account that has not been confirmed by the courts, for which the accrual of interest income is suspended. Upon confirmation of a Chapter 13 bankruptcy trustee’s plan (BK13), the account is immediately charged-off. Upon notification of a Chapter 7 bankruptcy, an account is monitored for collectability. In the event the debtors’ balance is reduced by the bankruptcy court, the Company records a loss equal to the amount of principal balance reduction. The remaining balance is reduced as payments are received. In the event an account is dismissed from bankruptcy, the Company will decide whether to begin repossession proceedings or to allow the customer to make 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, 2021 and 2020, were 7.5% and 7.9%, 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. Earnings Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. Earnings per share is calculated using the two-class 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. Dilutive earnings per share are calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period which includes the dilutive effect of additional potential common shares from stock compensation awards. For the years ended March 31, 2021 and 2020, Company experienced net income. Income 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) 2021 2020 Numerator: Net income per consolidated statements of income $ 8,351 $ 3,466 Percentage allocated to shareholders * 99 % 99 % Numerator for basic and diluted earnings per share 8,307 3,434 Denominator: Denominator for Basic earnings per share - weighted-average shares outstanding 7,626 7,702 Dilutive effect of stock options - 1 Denominator for diluted earnings per share 7,626 7,703 Per share income from continuing operations Basic $ 1.09 $ 0.45 Diluted $ 1.09 $ 0.45 *Basic weighted-average shares outstanding 7,626 7,702 Basic weighted-average shares outstanding and unvested restricted stock units expected to vest 7,666 7,774 Percentage allocated to shareholders 99 % 99 % 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, 2021, the Company operated in 16 states through 45 branch locations. Of the aggregate finance receivables as of March 31, 2021, Florida represented 27%, Ohio represented 14%, Georgia represented 12%, and North Carolina represented 10%. Each of Kentucky, Missouri, and South Carolina represented 5%. 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 consolidates 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 its right to receive residual returns is significant. The Company determined it is the primary beneficiary of the VIE, it has the right to direct activities that most significantly impact the performance of the VIE and has the obligation to absorb losses and significant right to receive residual returns. The Company therefore consolidated the VIE for the fiscal years ended March 31, 2020 and 2021. 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. 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 January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. This amendment requires that equity investments be measured at fair value with changes in fair value recognized in net income. When fair value is not readily determinable, an entity may elect to measure the equity investment at cost, less impairment, plus or minus any change in the investment’s observable price. For financial liabilities that are measured at fair value, the amendment requires an entity to present separately, in other comprehensive income, any change in fair value resulting from a change in instrument specific credit risk. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The standard requires retrospective application for equity investments with readily determinable fair values and prospective application for equity investments without readily determinable fair values. The Company adopted the standard during the year and no prospective basis existed for these equity investments since they were also purchased during the fiscal year. The purchase of these equity investments was recorded in the Consolidated Balance Sheets. See Note 7 for further information. 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 for fiscal years 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. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitating of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions in which the reference LIBOR or another reference rate is expected to be discontinued as a result of the Reference Rate Reform. This ASU is intended to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The new guidance was effective immediately and through December 31, 2022. The Company is currently evaluating the effect the adoption of this standard will have on its financial statements. The Company does not believe there are any other recently issued accounting standards that have not yet been adopted that will have a material impact on the Company’s consolidated financial statements .

Finance Receivables

Finance Receivables	12 Months Ended
Finance Receivables	Mar. 31, 2021
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. The Company’s charge off policy is 121 days past due. In addition, Chapter 13 Bankruptcies, once confirmed by the courts, are also charged off. This policy is in line with industry standards, considering the sub-prime nature of our customers. In the event of repossession, the charge-off will occur after standard collection practices by the Company, as determined by the residency state of a customer. This practice is consistent with the sub-prime industry. Contracts and Direct Loans included in finance receivables are detailed as follows as of fiscal years ended March 31: (In thousands) 2021 2020 Finance receivables $ 184,237 $ 219,366 Accrued interest receivable 2,285 3,164 Unearned dealer discounts (7,290 ) (8,056 ) Unearned purchase price discount (364 ) (915 ) Unearned insurance and fee commissions (2,396 ) (2,616 ) Finance receivables, net of unearned 176,472 210,943 Allowance for credit losses (6,154 ) (11,162 ) Finance receivables, net $ 170,318 $ 199,781 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, 2021, the average model year of vehicles collateralizing the portfolio was a 2012 vehicle. The terms of the Contracts range from 12 to 60 months and bear an average contractual interest rate of 23.4% and 23.4% as of March 31, 2021 and 2020, 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, 2021, loans made by the Company pursuant to its Direct Loan program constituted approximately 8% 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 29.7% and 28.2% as of March 31, 2021 and 2020, respectively. Allowance for Credit Losses The Company uses trailing six-month net charge-offs as a percentage of average finance receivables, annualized and applies this calculated percentage to ending finance receivables to calculate estimated future probable credit losses for purposes of determining the allowance for credit losses. The Company then takes into consideration the composition of its portfolio, current economic conditions, estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts and adjusts the above, if necessary, to determine management’s total estimate of probable credit losses and its assessment of the overall adequacy of the allowance for credit losses. Management utilizes significant judgment in determining probable incurred losses and in identifying and evaluating qualitative factors. The Company focuses on financing primary transportation to and from work for the subprime borrower, which has resulted in purchasing higher yielding loans, with smaller amounts financed and shorter monthly terms. Management believes a trailing six-month will more accurately reflect changes in the portfolio. 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: For the year ended March 31, 2021 (In thousands) Indirect Direct Total Balance at beginning of year $ 10,433 $ 729 $ 11,162 Provision for credit losses 7,250 - 7,250 Charge-offs (17,141 ) (682 ) (17,823 ) Recoveries 5,459 106 5,565 Balance at end of year $ 6,001 $ 153 $ 6,154 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. 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. The Company’s charge-off policy for contractually delinquent is 121 days. The Company’s charge-off policy aligns 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) 2021 2020 Contracts Direct Loans Total Contracts Direct Loans Total Performing accounts $ 166,828 $ 13,717 $ 180,545 $ 201,045 $ 11,649 $ 212,694 Non-performing accounts 3,367 192 3,559 6,202 195 6,397 Total 170,195 13,909 184,104 207,247 11,844 219,091 Chapter 13 bankruptcy 123 10 133 274 1 275 Finance receivables $ 170,318 $ 13,919 $ 184,237 $ 207,521 $ 11,845 $ 219,366 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, 2021 $ 170,195 $ 6,289 $ 2,430 $ 896 $ 42 $ 9,657 3.70 % 1.43 % 0.53 % 0.02 % 5.67 % March 31, 2020 $ 207,247 $ 14,977 $ 4,290 $ 1,893 $ 19 $ 21,179 7.23 % 2.07 % 0.91 % 0.01 % 10.22 % Direct Loans Balance Outstanding 30 – 59 days 60 –89 days 90-119 days 120+ days Total March 31, 2021 $ 13,909 $ 253 $ 101 $ 81 10 $ 445 1.82 % 0.73 % 0.58 % 0.07 % 3.20 % March 31, 2020 $ 11,844 $ 344 $ 136 $ 59 $ - $ 539 2.90 % 1.15 % 0.50 % 0.00 % 4.55 %

Property and Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment as of March 31, 2021 and 2020 is summarized as follows: (In thousands) Cost Accumulated Depreciation Net Book Value 2021 Automobiles $ 342 $ 280 $ 62 Software 165 46 119 Equipment 2,009 1,555 454 Furniture and fixtures 615 543 72 Leasehold improvements 1,297 1,145 152 $ 4,428 $ 3,569 $ 859 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

Acquisition

Acquisition	12 Months Ended
Acquisition	Mar. 31, 2021
Business Combinations [Abstract]
Acquisition	5. Acquisition 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 acquired assets and liabilities on their fair values. The Company acquired finance receivables, net of $20.1 million, other assets of $0.1 million, assumed liabilities of $0.2 million and incurred approximately $0.3 million in related expenses. The purchase price allocation resulted in goodwill of $0.3 million which the Company determined to be impaired as of March 31, 2020. Finance receivables from the Metrolina acquisition as of March 31, 2021 and March 31, 2020 were $4.4 million and $10.9 million, respectively.

Credit Facility

Credit Facility	12 Months Ended
Credit Facility	Mar. 31, 2021
Line Of Credit Facility [Abstract]
Credit Facility	6. Credit Facility Senior Secured Credit Facility On March 29, 2019, NF Funding I, a wholly-owned, special purpose financing subsidiary of NFI entered into a senior secured credit facility (the “Credit Facility”) pursuant to a credit agreement with Ares Agent Services, L.P., as administrative agent and collateral agent, and the lenders that are party thereto (the “Credit Agreement”). The Company’s prior credit facility was paid off in connection with this Credit Facility. Pursuant to the Credit Agreement, the lenders have agreed to extend to the NF Funding I a line of credit of up to $175,000,000, which will be used to purchase motor vehicle retail installment sale contracts from NFI on a revolving basis pursuant to a related receivables purchase agreement between NF Funding I and NFI (the “Receivables Purchase Agreement”). Under the terms of the Receivables Purchase Agreement, NFI will sell to NF Funding I the receivables under the installment sale contracts. NFI will continue to service the motor vehicle retail installment sale contracts transferred to NF Funding I pursuant to a related servicing agreement (the “Servicing Agreement”). As of March 31, 2021, the Company had aggregate outstanding indebtedness under the Credit Facility of $88.3 million, compared to $126.8 million as of March 31, 2020. In addition, the Company had $2.1 million and $2.6 million in debt issuance costs as of March 31, 2021 and March 31, 2020 respectively. The availability of funds under the Credit Facility is generally limited to 82.5% of the value of non-delinquent receivables, and outstanding advances under the Credit Facility will accrue interest at a rate of LIBOR plus 3.75%. The commitment period for advances under the Credit Facility is three years. At the end of the commitment period, the outstanding balance will convert to a term loan and require monthly principal and interest payments over a four-year In connection with the Credit Facility, NFI has guaranteed the NF Funding I’s obligations under the Credit Agreement up to 10% of the highest aggregate principal amount outstanding under the Credit Agreement at any time pursuant to the Limited Guaranty. The Company is also obligated to cover any losses of the lender parties resulting from certain “bad acts” of the Company or its subsidiaries, such as fraud, misappropriation of funds or unpermitted disposition of the assets. Pursuant to a related security agreement (the “Security Agreement”), NF Funding I granted a security interest in substantially all of its assets as collateral for its obligations under the Credit Facility. In addition, NFI pledged the equity interests of NF Funding I as additional collateral. The Credit Agreement and the other loan documents contain customary events of default and negative covenants, including but not limited to those governing indebtedness, liens, fundamental changes, investments, and sales of receivables. If an event of default occurs, the lenders could increase borrowing costs, restrict the NF Funding I’s ability to obtain additional advances under the Credit Facility, accelerate all amounts outstanding under the Credit Facility, enforce their interest against collateral pledged under the Credit Facility or enforce their rights under the Company’s guarantees. Once sold to the NF Funding I, the assets described above will be separate and distinct from the Company’s own assets and will not be available to its creditors should the Company become insolvent, although they will be presented on a consolidated basis on the Company’s balance sheet. Future maturities of debt as of March 31, 2021 are as follows: (in thousands) Year Ended March 31, 2022 $ — 2023 22,075 2024 22,075 2025 22,075 2026 22,075 $ 88,300 On May 27, 2020, the Company obtained a loan in the amount of $3,243,900 from a bank in connection with the U.S. Small Business Administration’s (“SBA”) 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 used the proceeds of the PPP Loan for payroll costs and other covered expenses and sought full forgiveness of the PPP Loan, but there can be no assurance that the Company will obtain any forgiveness of the PPP Loan. The Company submitted the forgiveness application to Fifth Third Bank, the lender, on December 7, 2020 and submitted supplemental documentation on January 16, 2021. Currently the application is pending SBA decision. Unless forgiven, the outstanding principal balance plus accrued and unpaid interest (accruing at the rate of 1.00% per annum) is due on May 22, 2022. The PPP Loan is unsecured. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. The related promissory note contains events of default and other provisions customary for a loan of this type.

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
Fair Value Disclosures	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures	7. Fair Value Disclosures Financial Instruments Measured at Fair Value In fiscal year 2021 the Company initiated certain equity investments. The Company defined these equity investments as trading securities for which the changes in fair value were immediately recognized through net income in each quarter, respectively. The Company sold all equity investments as of March 31, 2021, all gains were recognized in the Consolidated Statements of Income, for the year ended March 31, 2021. 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, 2021 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, 2021 $ 32,977 $ — $ — $ 32,977 $ 32,977 March 31, 2020 $ 24,684 $ — $ — $ 24,684 $ 24,684 Finance receivables: March 31, 2021 $ — $ — $ 170,318 $ 170,318 $ 170,318 March 31, 2020 $ — $ — $ 199,781 $ 199,781 $ 199,781 Repossessed assets: March 31, 2021 $ — $ — $ 685 $ 685 $ 685 March 31, 2020 $ — $ — $ 1,340 $ 1,340 $ 1,340 Credit facility: March 31, 2021 $ — $ 88,300 $ — $ 88,300 $ 88,300 March 31, 2020 $ — $ 126,830 $ — $ 126,830 $ 126,830 Note payable: March 31, 2021 $ 3,244 $ — $ — $ 3,244 $ 3,244 March 31, 2020 $ — $ — $ — $ — $ — 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 Level 3. Management has determined that this level to be most appropriate for finance receivables, repossessed assets, and note payable shown in the table above. Level 2 assets are financial assets and liabilities that do not have regular market pricing, but whose fair value can be determined based on other data values or market pricing. Management has determined that this level to be most appropriate for the credit facility shown in the table above. Level 1 assets are financial assets that have a regular mark to market mechanism for setting a fair market value. These assets are considered to have readily observable, transparent prices and therefore a reliable, fair market value. Management has determined that this level to be most appropriate for cash, restricted cash, and equity investments.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The income tax expense (benefit) consists of the following for the years ended March 31: (In thousands) 2021 2020 Current: Federal $ 969 $ (4,440 ) State - 6 Total current 969 (4,434 ) Deferred: Federal 1,447 3,008 State 179 207 Total deferred 1,626 3,215 Income tax expense (benefit) $ 2,595 $ (1,219 ) 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 2021 2020 Allowance for credit losses not currently deductible for tax purposes $ 1,647 $ 2,948 Share-based compensation 125 320 State net operating loss carryforwards 496 458 Right of use liability 826 462 Other items 158 249 Total deferred tax assets 3,252 4,437 Deferred tax liabilities Right of use asset 832 457 Other items 137 71 Total deferred tax liabilities 969 528 Deferred income taxes $ 2,283 $ 3,909 The income tax expense (benefit) reflects an effective U.S tax rate, which differs from the corporate tax rate for the following reasons: (In thousands) 2021 2020 Income tax expense (benefit) at Federal statutory rate $ 2,303 $ 479 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 378 91 Other (86 ) (13 ) Income tax expense (benefit) $ 2,595 $ (1,219 ) The Company’s effective tax rate increased to 23.7% in fiscal 2021 from (54.3.)% in fiscal 2020, 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 elected 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 positive evidence evaluated was the cumulative pre-tax income over the three-year period ended March 31, 2021, cumulative pre-tax income for the next three years, and substantial federal NOL rate differentials, previously noted. As of March 31, 2021, 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. Generally, NOL’s begin to expire March 31, 2039. 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 $152.5 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
Leases	Mar. 31, 2021
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 2023 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 $3.4 million as of March 31, 2021 and $2.7 million as of March 31, 2020. The 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 right of use asset was $ million as of March 31, 20 2 1 and $ 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, 2021, are as follows: in thousands 2022 $ 1,420 2023 1,053 2024 582 2025 407 2026 223 Thereafter — Total future minimum lease payments 3,685 Present value adjustment (318 ) Operating lease liability $ 3,367 The following table reports information about the Company’s lease cost for the twelve months ended March 31: (In thousands) 2021 2020 Lease cost: Operating lease cost $ 1,530 $ 1,777 Variable lease cost 344 435 Total lease cost $ 1,874 $ 2,212 The following table reports other information about the Company’s leases for the twelve months ended March 31: (In thousands) 2021 2020 Other Lease Information Operating Lease - Operating Cash Flows (Fixed Payments) $ 1,593 $ 1,913 Operating Lease - Operating Cash Flows (Liability Reduction) $ 1,193 $ 1,841 Weighted Average Lease Term - Operating Leases 2.8 years 2.5 years Weighted Average Discount Rate - Operating Leases 6.50 % 6.50 % Rent expense for the fiscal years ended March 31, 2021 and 2020 was approximately $1.9 million and $2.2 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
Share-Based Payments	Mar. 31, 2021
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 three-year 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, 2021 or 2020. A summary of option activity under the Equity Plans as of March 31, 2021, 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, 2020 62 $ 11.67 3.13 $ - Granted — — Exercised — — Forfeited (7 ) 11.18 Outstanding at March 31, 2021 55 $ 11.73 2.09 $ - Exercisable at March 31, 2021 55 $ 11.73 2.09 $ - The total intrinsic value of options exercised during the years ended March 31, 2021 and 2020 was approximately $0 and $7000, respectively. During the fiscal year ended March 31, 2021, no options were exercised. During the same period, approximately 7,000 options were forfeited at exercise prices ranging from $7.00 to $12.68 per share. 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. Cash received from options exercised during the fiscal years ended March 31, 2021 and 2020 totaled approximately $0 and $5,000, respectively. As of March 31, 2021, the Company had no unrecognized compensation related to options grants. For the year ended, March 31, 2021 and March 31, 2020, respectively, the Company had approximately $0 and $0 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, 2021, 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, 2020 50 $ 9.65 1.40 341 Granted 15 8.05 Vested (17 ) 9.23 Forfeited (7 ) 9.49 Non-vested at March 31, 2021 41 $ 9.24 0.96 $ 436 The Company awarded approximately 15,000 restricted shares during the fiscal year ended March 31, 2021. There are no performance shares included within the 15,000 restricted shares granted that resulted from the Company meeting a performance threshold. During the same period there were approximately 7,000 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, 2021, there was approximately $132,000 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 0.96 years.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Mar. 31, 2021
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 2021 later in the year.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Mar. 31, 2021
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
Variable Interest Entity	Mar. 31, 2021
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): 2021 2020 Assets Restricted cash $ 10,955 $ 7,882 Finance receivables, net 150,706 165,966 Repossessed assets 631 1,277 Total assets $ 162,292 $ 175,125 Liabilities Credit facility, net of debt issuance costs $ 86,154 $ 124,255 Accounts payable and accrued expenses 405 597 Total liabilities $ 86,559 $ 124,852

Stock Plans

Stock Plans	12 Months Ended
Stock Plans	Mar. 31, 2021
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) 2021 2020 Number of Shares Amount Number of Shares Amount Treasury shares at the beginning of period 4,833 $ (71,438 ) 4,714 $ (70,459 ) Treasury shares purchased 112 (905 ) 119 (979 ) Treasury shares at the end of period 4,945 $ (72,343 ) 4,833 $ (71,438 )

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2021
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 a bank in connection with the U.S. Small Business Administration’s (“SBA”) 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 used the proceeds of the PPP Loan for payroll costs and other covered expenses and sought full forgiveness of the PPP Loan, but there can be no assurance that the Company will obtain any forgiveness of the PPP Loan. The Company submitted the forgiveness application to Fifth Third Bank, the lender, on December 7, 2020 and submitted supplemental documentation on January 16, 2021. Currently the application is pending SBA decision. Therefore, per the Paycheck Protection Flexibility Act of 2020, P.L. 116-142, all loan payments are deferred while the Company awaits the SBA’s decision on loan forgiveness. 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 . Unless forgiven, the outstanding principal balance plus accrued and unpaid interest (accruing at the rate of 1.00% per annum) is due on May 22, 2022. The PPP Loan is unsecured. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. The related promissory note contains events of default and other provisions customary for a loan of this type. Share Repurchases: For the period April 1, 2021 through June 17, 2021, the Company repurchased an additional 40,110 shares of our common stock for $433 thousand at an average price of $10.63 per share. 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
Quarterly Results of Operations (Unaudited)	Mar. 31, 2021
Quarterly Financial Data [Abstract]
Quarterly Results of Operations (Unaudited)	16. Quarterly Results of Operations (Unaudited) Fiscal Year ended March 31, 2021 (In thousands, except earnings per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 14,151 $ 14,109 $ 14,474 $ 13,286 Interest expense 1,649 1,569 1,442 1,320 Provision for credit losses 3,300 3,050 650 250 Non-interest expense 7,343 8,131 7,407 8,963 Operating income before income taxes 1,859 1,359 4,975 2,753 Income tax expense 429 92 1,190 884 Net income $ 1,430 $ 1,267 $ 3,785 $ 1,869 Earnings per share: Basic $ 0.18 $ 0.16 $ 0.49 $ 0.24 Diluted $ 0.18 $ 0.16 $ 0.49 $ 0.24 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

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2021
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).
Allowance for Credit Losses	Allowance for Credit Losses The Company uses trailing six-month net charge-offs as a percentage of average finance receivables, annualized and applies this calculated percentage to ending finance receivables to calculate estimated future probable credit losses for purposes of determining the allowance for credit losses. The Company then takes into consideration the composition of its portfolio, current economic conditions, estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts and adjusts the above, if necessary, to determine management’s total estimate of probable credit losses and its assessment of the overall adequacy of the allowance for credit losses. Management utilizes significant judgment in determining probable incurred losses and in identifying and evaluating qualitative factors. Use of a trailing six-month net charge-off percentage reflects the Company lending policies, underwriting standards, and aligns with business strategies to finance primary transportation to and from work for the subprime borrower. 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, 2021 and March 31, 2020, respectively. 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. In fiscal year 2021, no purchases accounting transactions were executed by the Company and no goodwill was recorded. The goodwill balance remains at $0 at March 31, 2021. (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 March 31, 2021 or 2020.
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, 2021 or 2020. 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 2017. 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 8 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. The Company defines a non-performing asset as one that is 61 or more days past due, a Chapter 7 bankruptcy account, or a Chapter 13 bankruptcy account that has not been confirmed by the courts, for which the accrual of interest income is suspended. Upon confirmation of a Chapter 13 bankruptcy trustee’s plan (BK13), the account is immediately charged-off. Upon notification of a Chapter 7 bankruptcy, an account is monitored for collectability. In the event the debtors’ balance is reduced by the bankruptcy court, the Company records a loss equal to the amount of principal balance reduction. The remaining balance is reduced as payments are received. In the event an account is dismissed from bankruptcy, the Company will decide whether to begin repossession proceedings or to allow the customer to make 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, 2021 and 2020, were 7.5% and 7.9%, 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.
Earnings Per Share	Earnings Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. Earnings per share is calculated using the two-class 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. Dilutive earnings per share are calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period which includes the dilutive effect of additional potential common shares from stock compensation awards. For the years ended March 31, 2021 and 2020, Company experienced net income. Income 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) 2021 2020 Numerator: Net income per consolidated statements of income $ 8,351 $ 3,466 Percentage allocated to shareholders * 99 % 99 % Numerator for basic and diluted earnings per share 8,307 3,434 Denominator: Denominator for Basic earnings per share - weighted-average shares outstanding 7,626 7,702 Dilutive effect of stock options - 1 Denominator for diluted earnings per share 7,626 7,703 Per share income from continuing operations Basic $ 1.09 $ 0.45 Diluted $ 1.09 $ 0.45 *Basic weighted-average shares outstanding 7,626 7,702 Basic weighted-average shares outstanding and unvested restricted stock units expected to vest 7,666 7,774 Percentage allocated to shareholders 99 % 99 %
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, 2021, the Company operated in 16 states through 45 branch locations. Of the aggregate finance receivables as of March 31, 2021, Florida represented 27%, Ohio represented 14%, Georgia represented 12%, and North Carolina represented 10%. Each of Kentucky, Missouri, and South Carolina represented 5%. 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 consolidates 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 its right to receive residual returns is significant. The Company determined it is the primary beneficiary of the VIE, it has the right to direct activities that most significantly impact the performance of the VIE and has the obligation to absorb losses and significant right to receive residual returns. The Company therefore consolidated the VIE for the fiscal years ended March 31, 2020 and 2021.
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. 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 January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. This amendment requires that equity investments be measured at fair value with changes in fair value recognized in net income. When fair value is not readily determinable, an entity may elect to measure the equity investment at cost, less impairment, plus or minus any change in the investment’s observable price. For financial liabilities that are measured at fair value, the amendment requires an entity to present separately, in other comprehensive income, any change in fair value resulting from a change in instrument specific credit risk. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The standard requires retrospective application for equity investments with readily determinable fair values and prospective application for equity investments without readily determinable fair values. The Company adopted the standard during the year and no prospective basis existed for these equity investments since they were also purchased during the fiscal year. The purchase of these equity investments was recorded in the Consolidated Balance Sheets. See Note 7 for further information. 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 for fiscal years 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. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitating of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions in which the reference LIBOR or another reference rate is expected to be discontinued as a result of the Reference Rate Reform. This ASU is intended to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The new guidance was effective immediately and through December 31, 2022. The Company is currently evaluating the effect the adoption of this standard will have on its financial statements. The Company does not believe there are any other recently issued accounting standards that have not yet been adopted that will have a material impact on the Company’s consolidated financial statements .

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2021
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 income per share	Fiscal Year ended March 31, (In thousands, except earnings per share numbers) 2021 2020 Numerator: Net income per consolidated statements of income $ 8,351 $ 3,466 Percentage allocated to shareholders * 99 % 99 % Numerator for basic and diluted earnings per share 8,307 3,434 Denominator: Denominator for Basic earnings per share - weighted-average shares outstanding 7,626 7,702 Dilutive effect of stock options - 1 Denominator for diluted earnings per share 7,626 7,703 Per share income from continuing operations Basic $ 1.09 $ 0.45 Diluted $ 1.09 $ 0.45 *Basic weighted-average shares outstanding 7,626 7,702 Basic weighted-average shares outstanding and unvested restricted stock units expected to vest 7,666 7,774 Percentage allocated to shareholders 99 % 99 %

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
Finance Receivables (Tables)	Mar. 31, 2021
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) 2021 2020 Finance receivables $ 184,237 $ 219,366 Accrued interest receivable 2,285 3,164 Unearned dealer discounts (7,290 ) (8,056 ) Unearned purchase price discount (364 ) (915 ) Unearned insurance and fee commissions (2,396 ) (2,616 ) Finance receivables, net of unearned 176,472 210,943 Allowance for credit losses (6,154 ) (11,162 ) Finance receivables, net $ 170,318 $ 199,781
Schedule of activity in allowance for credit losses	The following presents the activity in our allowance for credit losses: For the year ended March 31, 2021 (In thousands) Indirect Direct Total Balance at beginning of year $ 10,433 $ 729 $ 11,162 Provision for credit losses 7,250 - 7,250 Charge-offs (17,141 ) (682 ) (17,823 ) Recoveries 5,459 106 5,565 Balance at end of year $ 6,001 $ 153 $ 6,154 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.
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) 2021 2020 Contracts Direct Loans Total Contracts Direct Loans Total Performing accounts $ 166,828 $ 13,717 $ 180,545 $ 201,045 $ 11,649 $ 212,694 Non-performing accounts 3,367 192 3,559 6,202 195 6,397 Total 170,195 13,909 184,104 207,247 11,844 219,091 Chapter 13 bankruptcy 123 10 133 274 1 275 Finance receivables $ 170,318 $ 13,919 $ 184,237 $ 207,521 $ 11,845 $ 219,366
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, 2021 $ 170,195 $ 6,289 $ 2,430 $ 896 $ 42 $ 9,657 3.70 % 1.43 % 0.53 % 0.02 % 5.67 % March 31, 2020 $ 207,247 $ 14,977 $ 4,290 $ 1,893 $ 19 $ 21,179 7.23 % 2.07 % 0.91 % 0.01 % 10.22 % Direct Loans Balance Outstanding 30 – 59 days 60 –89 days 90-119 days 120+ days Total March 31, 2021 $ 13,909 $ 253 $ 101 $ 81 10 $ 445 1.82 % 0.73 % 0.58 % 0.07 % 3.20 % March 31, 2020 $ 11,844 $ 344 $ 136 $ 59 $ - $ 539 2.90 % 1.15 % 0.50 % 0.00 % 4.55 %

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
Property and Equipment (Tables)	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Schedule of property and equipment	Property and equipment as of March 31, 2021 and 2020 is summarized as follows: (In thousands) Cost Accumulated Depreciation Net Book Value 2021 Automobiles $ 342 $ 280 $ 62 Software 165 46 119 Equipment 2,009 1,555 454 Furniture and fixtures 615 543 72 Leasehold improvements 1,297 1,145 152 $ 4,428 $ 3,569 $ 859 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

Credit Facility (Tables)

Credit Facility (Tables)	12 Months Ended
Credit Facility (Tables)	Mar. 31, 2021
Line Of Credit Facility [Abstract]
Schedule of Future Maturities of Debt	Future maturities of debt as of March 31, 2021 are as follows: (in thousands) Year Ended March 31, 2022 $ — 2023 22,075 2024 22,075 2025 22,075 2026 22,075 $ 88,300

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
Fair Value Disclosures (Tables)	Mar. 31, 2021
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, 2021 $ 32,977 $ — $ — $ 32,977 $ 32,977 March 31, 2020 $ 24,684 $ — $ — $ 24,684 $ 24,684 Finance receivables: March 31, 2021 $ — $ — $ 170,318 $ 170,318 $ 170,318 March 31, 2020 $ — $ — $ 199,781 $ 199,781 $ 199,781 Repossessed assets: March 31, 2021 $ — $ — $ 685 $ 685 $ 685 March 31, 2020 $ — $ — $ 1,340 $ 1,340 $ 1,340 Credit facility: March 31, 2021 $ — $ 88,300 $ — $ 88,300 $ 88,300 March 31, 2020 $ — $ 126,830 $ — $ 126,830 $ 126,830 Note payable: March 31, 2021 $ 3,244 $ — $ — $ 3,244 $ 3,244 March 31, 2020 $ — $ — $ — $ — $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of income tax expense (benefit)	The income tax expense (benefit) consists of the following for the years ended March 31: (In thousands) 2021 2020 Current: Federal $ 969 $ (4,440 ) State - 6 Total current 969 (4,434 ) Deferred: Federal 1,447 3,008 State 179 207 Total deferred 1,626 3,215 Income tax expense (benefit) $ 2,595 $ (1,219 )
Schedule of deferred tax assets and liabilities	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 2021 2020 Allowance for credit losses not currently deductible for tax purposes $ 1,647 $ 2,948 Share-based compensation 125 320 State net operating loss carryforwards 496 458 Right of use liability 826 462 Other items 158 249 Total deferred tax assets 3,252 4,437 Deferred tax liabilities Right of use asset 832 457 Other items 137 71 Total deferred tax liabilities 969 528 Deferred income taxes $ 2,283 $ 3,909
Schedule of income tax expense (benefit) reflects an effective U.S tax rate	The income tax expense (benefit) reflects an effective U.S tax rate, which differs from the corporate tax rate for the following reasons: (In thousands) 2021 2020 Income tax expense (benefit) at Federal statutory rate $ 2,303 $ 479 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 378 91 Other (86 ) (13 ) Income tax expense (benefit) $ 2,595 $ (1,219 )

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Mar. 31, 2021
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, 2021, are as follows: in thousands 2022 $ 1,420 2023 1,053 2024 582 2025 407 2026 223 Thereafter — Total future minimum lease payments 3,685 Present value adjustment (318 ) Operating lease liability $ 3,367
Schedule of lease cost	The following table reports information about the Company’s lease cost for the twelve months ended March 31: (In thousands) 2021 2020 Lease cost: Operating lease cost $ 1,530 $ 1,777 Variable lease cost 344 435 Total lease cost $ 1,874 $ 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: (In thousands) 2021 2020 Other Lease Information Operating Lease - Operating Cash Flows (Fixed Payments) $ 1,593 $ 1,913 Operating Lease - Operating Cash Flows (Liability Reduction) $ 1,193 $ 1,841 Weighted Average Lease Term - Operating Leases 2.8 years 2.5 years Weighted Average Discount Rate - Operating Leases 6.50 % 6.50 %

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
Share-Based Payments (Tables)	Mar. 31, 2021
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, 2021, 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, 2020 62 $ 11.67 3.13 $ - Granted — — Exercised — — Forfeited (7 ) 11.18 Outstanding at March 31, 2021 55 $ 11.73 2.09 $ - Exercisable at March 31, 2021 55 $ 11.73 2.09 $ -
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, 2021, 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, 2020 50 $ 9.65 1.40 341 Granted 15 8.05 Vested (17 ) 9.23 Forfeited (7 ) 9.49 Non-vested at March 31, 2021 41 $ 9.24 0.96 $ 436

Variable Interest Entity (Table

Variable Interest Entity (Tables)	12 Months Ended
Variable Interest Entity (Tables)	Mar. 31, 2021
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): 2021 2020 Assets Restricted cash $ 10,955 $ 7,882 Finance receivables, net 150,706 165,966 Repossessed assets 631 1,277 Total assets $ 162,292 $ 175,125 Liabilities Credit facility, net of debt issuance costs $ 86,154 $ 124,255 Accounts payable and accrued expenses 405 597 Total liabilities $ 86,559 $ 124,852

Stock Plans (Tables)

Stock Plans (Tables)	12 Months Ended
Stock Plans (Tables)	Mar. 31, 2021
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) 2021 2020 Number of Shares Amount Number of Shares Amount Treasury shares at the beginning of period 4,833 $ (71,438 ) 4,714 $ (70,459 ) Treasury shares purchased 112 (905 ) 119 (979 ) Treasury shares at the end of period 4,945 $ (72,343 ) 4,833 $ (71,438 )

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
Quarterly Results of Operations (Unaudited) (Tables)	Mar. 31, 2021
Quarterly Financial Data [Abstract]
Schedule of quarterly results of operations	Fiscal Year ended March 31, 2021 (In thousands, except earnings per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 14,151 $ 14,109 $ 14,474 $ 13,286 Interest expense 1,649 1,569 1,442 1,320 Provision for credit losses 3,300 3,050 650 250 Non-interest expense 7,343 8,131 7,407 8,963 Operating income before income taxes 1,859 1,359 4,975 2,753 Income tax expense 429 92 1,190 884 Net income $ 1,430 $ 1,267 $ 3,785 $ 1,869 Earnings per share: Basic $ 0.18 $ 0.16 $ 0.49 $ 0.24 Diluted $ 0.18 $ 0.16 $ 0.49 $ 0.24 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

Organization and Basis of Pre_2

Organization and Basis of Presentation (Detail Textuals)	12 Months Ended
Organization and Basis of Presentation (Detail Textuals)	Mar. 31, 2021Subsidiary
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)	1 Months Ended	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2021USD ($)SegmentUnit	Mar. 31, 2020USD ($)
Accounting Policies [Abstract]
Number of reportable segments \| Segment		1
Number of reporting unit \| Unit		1
Goodwill impairment charge			$ 295,000
Goodwill		$ 0
Goodwill, purchase accounting transactions		0
Impairment of long-lived assets		0	0
Uncertain tax positions		$ 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.
Average dealer discount associated with new volume		7.50%	7.90%
Monthly servicing fee percent of outstanding financed receivables	2.50%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of estimated useful lives of assets (Details)	12 Months Ended
	Mar. 31, 2021
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 - Income per share (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income per consolidated statements of income	$ 1,869	$ 3,785	$ 1,267	$ 1,430	$ 2,296	$ 311	$ 268	$ 591	$ 8,351	$ 3,466
Percentage allocated to shareholders *									99.00%	99.00%
Numerator for basic and diluted earnings per share									$ 8,307	$ 3,434
Denominator:
Denominator for Basic earnings per share - weighted-average shares outstanding									7,626	7,702
Dilutive effect of stock options										1
Denominator for diluted earnings per share									7,626	7,703
Per share income from continuing operations
Basic (in dollars per share)	$ 0.24	$ 0.49	$ 0.16	$ 0.18	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ 1.09	$ 0.45
Diluted (in dollars per share)	$ 0.24	$ 0.49	$ 0.16	$ 0.18	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ 1.09	$ 0.45

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Income per share (Parentheticals) (Details 1) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Basic weighted-average shares outstanding	7,626	7,702
Basic weighted-average shares outstanding and unvested restricted stock units expected to vest	7,666	7,774
Percentage allocated to shareholders	99.00%	99.00%

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Detail Textuals 2)	12 Months Ended
	Mar. 31, 2021StateBranch
Significant Accounting Policies [Line Items]
Number of states in which entity operates \| State	16
Number of branches \| Branch	45
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	27.00%
Finance receivables \| North Carolina \| Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	10.00%
Finance receivables \| Ohio \| Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	14.00%
Finance receivables \| Georgia \| Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	12.00%
Finance receivables \| Kentucky \| Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	5.00%
Finance receivables \| Missouri \| Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	5.00%
Finance receivables \| South Carolina \| Geographic concentration risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	5.00%

Finance Receivables (Detail Tex

Finance Receivables (Detail Textuals) - USD ($)	Feb. 28, 2019	Mar. 31, 2021	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account		121 days
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Average contractual interest rate		29.70%	28.20%
Percentage of direct loan to total loan portfolio		8.00%
Finance receivables \| Contracts
Accounts Notes And Loans Receivable [Line Items]
Average contractual interest rate		23.40%	23.40%
Minimum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account	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
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

Finance Receivables - Summary o

Finance Receivables - Summary of contracts and direct loans included in finance receivables (Details) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Accounts Notes And Loans Receivable [Line Items]
Allowance for credit losses	$ (6,154)	$ (11,162)	$ (16,932)
Contracts and direct loans
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	184,237	219,366
Accrued interest receivable	2,285	3,164
Unearned dealer discounts	(7,290)	(8,056)
Unearned purchase price discount	(364)	(915)
Unearned insurance and fee commissions	(2,396)	(2,616)
Finance receivables, net of unearned	176,472	210,943
Allowance for credit losses	(6,154)	(11,162)
Finance receivables, net	$ 170,318	$ 199,781

Finance Receivables - Activity

Finance Receivables - Activity in allowance for credit losses (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Provision for credit losses	$ 250	$ 650	$ 3,050	$ 3,300	$ 3,919	$ 4,597	$ 4,000	$ 4,385	$ 7,250	$ 16,901
Finance receivables
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of year				11,162				16,932	11,162	16,932
Provision for credit losses									7,250	16,901
Charge-offs									(17,823)	(29,837)
Recoveries									5,565	7,166
Balance at end of year	6,154				11,162				6,154	11,162
Finance receivables \| Indirect
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of year				10,433				16,575	10,433	16,575
Provision for credit losses									7,250	16,096
Charge-offs									(17,141)	(29,174)
Recoveries									5,459	6,936
Balance at end of year	6,001				10,433				6,001	10,433
Finance receivables \| Direct
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of year				$ 729				$ 357	729	357
Provision for credit losses										805
Charge-offs									(682)	(663)
Recoveries									106	230
Balance at end of year	$ 153				$ 729				$ 153	$ 729

Finance Receivables - Activit_2

Finance Receivables - Activity in allowance for credit losses (Parenthetical) (Details 1) $ in Millions	12 Months Ended
	Mar. 31, 2020USD ($)
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, 2021
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
Criteria for receivable to be delinquent account		121 days
Minimum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account	121 days

Finance Receivables - Assessmen

Finance Receivables - Assessment of credit quality by creditworthiness (Details 2) - Finance receivables - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Total	$ 184,104	$ 219,091
Finance receivables	184,237	219,366
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	13,909	11,844
Finance receivables	13,919	11,845
Performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	180,545	212,694
Performing accounts \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	13,717	11,649
Non-performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	3,559	6,397
Non-performing accounts \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	192	195
Chapter 13 bankruptcy
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	133	275
Chapter 13 bankruptcy \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	10	1
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	170,195	207,247
Finance receivables	170,318	207,521
Contract Portfolio \| Performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	166,828	201,045
Contract Portfolio \| Non-performing accounts
Accounts Notes And Loans Receivable [Line Items]
Total	3,367	6,202
Contract Portfolio \| Chapter 13 bankruptcy
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	$ 123	$ 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, 2021	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	$ 184,104	$ 219,091
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	13,909	11,844
Total	$ 445	$ 539
Total (in percentage)	3.20%	4.55%
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	$ 170,195	$ 207,247
Total	$ 9,657	$ 21,179
Total (in percentage)	5.67%	10.22%
30 - 59 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 253	$ 344
Total (in percentage)	1.82%	2.90%
30 - 59 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 6,289	$ 14,977
Total (in percentage)	3.70%	7.23%
60 ? 89 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 101	$ 136
Total (in percentage)	0.73%	1.15%
60 ? 89 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 2,430	$ 4,290
Total (in percentage)	1.43%	2.07%
90 - 119 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 81	$ 59
Total (in percentage)	0.58%	0.50%
90 - 119 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 896	$ 1,893
Total (in percentage)	0.53%	0.91%
120+ days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 10
Total (in percentage)	0.07%	0.00%
120+ days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 42	$ 19
Total (in percentage)	0.02%	0.01%

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Cost	$ 4,428	$ 3,964
Accumulated Depreciation	3,569	3,482
Net Book Value	859	482
Automobiles
Property, Plant and Equipment [Line Items]
Cost	342	451
Accumulated Depreciation	280	396
Net Book Value	62	55
Software
Property, Plant and Equipment [Line Items]
Cost	165	160
Accumulated Depreciation	46	23
Net Book Value	119	137
Equipment
Property, Plant and Equipment [Line Items]
Cost	2,009	1,571
Accumulated Depreciation	1,555	1,439
Net Book Value	454	132
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Cost	615	575
Accumulated Depreciation	543	519
Net Book Value	72	56
Leasehold improvements
Property, Plant and Equipment [Line Items]
Cost	1,297	1,207
Accumulated Depreciation	1,145	1,105
Net Book Value	$ 152	$ 102

Acquisition (Detail Textuals)

Acquisition (Detail Textuals) $ in Thousands	Apr. 30, 2019USD ($)Branch	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Business Acquisition [Line Items]
Goodwill		$ 0
Metrolina
Business Acquisition [Line Items]
Acquisition completion date	Apr. 30, 2019
Number of branches acquired \| Branch	3
Finance receivable, net	$ 20,100	$ 4,400	$ 10,900
Other assets	100
Assumed liabilities	200
Expense related to asset acquisition	300
Goodwill	$ 300
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

Credit Facility (Detail Textual

Credit Facility (Detail Textuals) - USD ($)	May 27, 2020	Mar. 29, 2019	Mar. 31, 2021	Mar. 31, 2020
Line Of Credit Facility [Line Items]
Aggregate outstanding indebtedness			$ 88,300,000
Paycheck Protection Program
Line Of Credit Facility [Line Items]
Proceeds from Loans	$ 3,243,900
Loan interest rate	1.00%
Loan maturity date	May 22, 2022
Prepayment penalties upon early repayment	$ 0
Senior Secured Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility amount		$ 175,000,000
Aggregate outstanding indebtedness			88,300,000	$ 126,800,000
Debt issuance costs			$ 2,100,000	$ 2,600,000
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
Senior Secured Credit Facility \| 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, 2021USD ($)
Long Term Debt By Maturity [Abstract]
2023	$ 22,075
2024	22,075
2025	22,075
2026	22,075
Future maturities of debt	$ 88,300

Fair Value Disclosures (Detail

Fair Value Disclosures (Detail Textuals)	1 Months Ended	12 Months Ended
Fair Value Disclosures (Detail Textuals)	Dec. 31, 2017	Mar. 31, 2021
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, 2021	Mar. 31, 2020
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	$ 32,977	$ 24,684
Finance receivables	170,318	199,781
Repossessed assets:	685	1,340
Credit facility	88,300	126,830
Note payable	3,244	0
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	32,977	24,684
Finance receivables	170,318	199,781
Repossessed assets:	685	1,340
Credit facility	88,300	126,830
Note payable	3,244	0
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	32,977	24,684
Finance receivables	0	0
Repossessed assets:	0	0
Credit facility	0	0
Note payable	3,244	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	88,300	126,830
Note payable	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and restricted cash	0	0
Finance receivables	170,318	199,781
Repossessed assets:	685	1,340
Credit facility	0	0
Note payable	$ 0	$ 0

Income Taxes - Income tax expen

Income Taxes - Income tax expense (benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Current:
Federal									$ 969	$ (4,440)
State										6
Total current									969	(4,434)
Deferred:
Federal									1,447	3,008
State									179	207
Total deferred									1,626	3,215
Income tax expense (benefit)	$ 884	$ 1,190	$ 92	$ 429	$ (1,746)	$ 229	$ 92	$ 206	$ 2,595	$ (1,219)

Income Taxes - Significant comp

Income Taxes - Significant components of the company's deferred tax assets (Details 1) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Deferred Tax Assets
Allowance for credit losses not currently deductible for tax purposes	$ 1,647	$ 2,948
Share-based compensation	125	320
State net operating loss carryforwards	496	458
Right of use liability	826	462
Other items	158	249
Total deferred tax assets	3,252	4,437
Deferred tax liabilities
Right of use asset	832	457
Other items	137	71
Total deferred tax liabilities	969	528
Deferred income taxes	$ 2,283	$ 3,909

Income Taxes - Income tax exp_2

Income Taxes - Income tax expense (benefit) reflects an effective U.S tax rate (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Schedule Of Income Taxes [Line Items]
Income tax expense (benefit) at Federal statutory rate									$ 2,303	$ 479
Increase (decrease) resulting from:
State income taxes, net of Federal benefit									378	91
Other									(86)	(13)
Income tax expense (benefit)	$ 884	$ 1,190	$ 92	$ 429	$ (1,746)	$ 229	$ 92	$ 206	$ 2,595	(1,219)
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, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Schedule Of Income Taxes [Line Items]
Income tax benefit			$ (884)	$ (1,190)	$ (92)	$ (429)	$ 1,746	$ (229)	$ (92)	$ (206)	$ (2,595)	$ 1,219
Federal income tax rate	21.00%	35.00%
NOL’s expiration date											Mar. 31, 2039
Undistributed earnings			$ 152,500								$ 152,500
"CARES Act"
Schedule Of Income Taxes [Line Items]
Increase in effective tax rate											23.70%	(54.30%)
"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
Leases (Detail Textuals) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Lessee Lease Description [Line Items]
Operating lease liabilities	$ 3,367	$ 2,652
Operating lease right-of-use assets	3,392	2,598
Rent expense	$ 1,900	$ 2,200
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	2023-04
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) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
2022	$ 1,420
2023	1,053
2024	582
2025	407
2026	223
Total future minimum lease payments	3,685
Present value adjustment	(318)
Operating lease liability	$ 3,367	$ 2,652

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lease cost:
Operating lease cost	$ 1,530	$ 1,777
Variable lease cost	344	435
Total lease cost	$ 1,874	$ 2,212

Leases - Schedule of Other Leas

Leases - Schedule of Other Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Lease Information
Operating Lease - Operating Cash Flows (Fixed Payments)	$ 1,593	$ 1,913
Operating Lease - Operating Cash Flows (Liability Reduction)	$ 1,193	$ 1,841
Weighted Average Lease Term - Operating Leases	2 years 9 months 18 days	2 years 6 months
Weighted Average Discount Rate - Operating Leases	6.50%	6.50%

Share-Based Payments (Detail Te

Share-Based Payments (Detail Textuals)	12 Months Ended
Share-Based Payments (Detail Textuals)	Mar. 31, 2021USD ($)EquityPlanshares	Mar. 31, 2020USD ($)	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 \| $	$ 0	$ 7,000
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 - $ / shares	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Shares
Exercised	0	(2,000)
Forfeited	(7,000)	(8,000)
Equity Plans
Shares
Outstanding at March 31, 2020	62,000
Granted	0
Exercised	0
Forfeited	(7,000)
Outstanding at March 31, 2021	55,000	62,000
Exercisable at March 31, 2021	55,000
Weighted Average Exercise Price
Outstanding at March 31, 2020	$ 11.67
Granted	0
Exercised	0
Forfeited	11.18
Outstanding at March 31, 2021	11.73	$ 11.67
Exercisable at March 31, 2021	$ 11.73
Weighted Average Remaining Contractual Term
Outstanding at March 31	2 years 1 month 2 days	3 years 1 month 17 days
Exercisable at March 31, 2021	2 years 1 month 2 days

Share-Based Payments (Detail _2

Share-Based Payments (Detail Textuals 1) - USD ($)	12 Months Ended
Share-Based Payments (Detail Textuals 1) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of option	$ 0	$ 5,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options exercised	0	2,000
Number of stock options forfeited	7,000	8,000
Unrecognized compensation cost	$ 0	$ 0
Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised		$ 1.20
Exercise price of stock options forfeited	$ 7	10.87
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options exercised		4.18
Exercise price of stock options forfeited	$ 12.68	$ 12.68
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 132,000
Number of shares awarded	15,000
Number of share granted employees maximum account reached	15,000
Number of performance shares forfeited	7,000
Weighted-average period expected to be recognized	11 months 15 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, 2021	Mar. 31, 2020
Shares
Granted	15,000
Forfeited	(7,000)
Equity Plans
Shares
Non-vested at March 31, 2020	50,000
Granted	15,000
Vested	(17,000)
Forfeited	(7,000)
Non-vested at March 31, 2021	41,000	50,000
Weighted Average Grant Date Fair Value
Non-vested at March 31, 2020	$ 9.65
Granted	8.05
Vested	9.23
Forfeited	9.49
Non-vested at March 31, 2021	$ 9.24	$ 9.65
Weighted Average Remaining Contractual Term
Non-vested at March 31	11 months 15 days	1 year 4 months 24 days
Aggregate Intrinsic Value
Non-vested at March 31	$ 436	$ 341

Variable Interest Entity (Detai

Variable Interest Entity (Detail Textuals) - USD ($)	1 Months Ended
Variable Interest Entity (Detail Textuals) - USD ($)	Mar. 31, 2019	Mar. 31, 2021
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, 2021	Mar. 31, 2020
Assets
Restricted cash	$ 10,955	$ 7,882
Finance receivables, net	170,318	199,781
Repossessed assets	685	1,340
Total assets	212,438	238,818
Liabilities
Credit facility, net of debt issuance costs	86,154	124,255
Accounts payable and accrued expenses	4,451	4,332
Total liabilities	97,216	131,239
Variable Interest Entity
Assets
Restricted cash	10,955	7,882
Finance receivables, net	150,706	165,966
Repossessed assets	631	1,277
Total assets	162,292	175,125
Liabilities
Credit facility, net of debt issuance costs	86,154	124,255
Accounts payable and accrued expenses	405	597
Total liabilities	$ 86,559	$ 124,852

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, 2021	Mar. 31, 2020
Equity [Abstract]
Treasury shares at the beginning of period, Number of Shares	4,833	4,714
Treasury shares purchased, Number of Shares	112	119
Treasury shares at the end of period, Number of Shares	4,945	4,833
Treasury shares at the beginning of period, Amount	$ (71,438)	$ (70,459)
Treasury shares purchased, Amount	(905)	(979)
Treasury shares at the end of period, Amount	$ (72,343)	$ (71,438)

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - USD ($)	May 27, 2020	Jun. 17, 2021	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Number of shares repurchased			112,000	119,000
Aggregate cost of shares repurchased			$ 905,000	$ 979,000
Subsequent Event
Debt Instrument [Line Items]
Number of shares repurchased		40,110
Aggregate cost of shares repurchased		$ 433,000
Shares repurchased, average cost per share		$ 10.63
Paycheck Protection Program
Debt Instrument [Line Items]
Proceeds from Loans	$ 3,243,900
Loan interest rate	1.00%
Loan maturity date	May 22, 2022
Prepayment penalties upon early repayment	$ 0
Paycheck Protection Program \| Fifth Third Bank
Debt Instrument [Line Items]
Proceeds from Loans	$ 3,243,900
Loan interest rate	1.00%
Loan maturity date	May 22, 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, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Quarterly Financial Data [Abstract]
Total revenue	$ 13,286	$ 14,474	$ 14,109	$ 14,151	$ 14,896	$ 14,973	$ 15,585	$ 16,641
Interest expense	1,320	1,442	1,569	1,649	1,843	1,886	2,298	2,488	$ 5,980	$ 8,515
Provision for credit losses	250	650	3,050	3,300	3,919	4,597	4,000	4,385	7,250	16,901
Non-interest expense	8,963	7,407	8,131	7,343	8,584	7,950	8,927	8,971
Operating income before income taxes	2,753	4,975	1,359	1,859	550	540	360	797	10,946	2,247
Income tax expense (benefit)	884	1,190	92	429	(1,746)	229	92	206	2,595	(1,219)
Net income	$ 1,869	$ 3,785	$ 1,267	$ 1,430	$ 2,296	$ 311	$ 268	$ 591	$ 8,351	$ 3,466
Earnings per share:
Basic (in dollars per share)	$ 0.24	$ 0.49	$ 0.16	$ 0.18	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ 1.09	$ 0.45
Diluted (in dollars per share)	$ 0.24	$ 0.49	$ 0.16	$ 0.18	$ 0.31	$ 0.04	$ 0.03	$ 0.07	$ 1.09	$ 0.45