Nicholas Financial, Inc. is a consumer finance company based in Clearwater, Florida. Established in 1985, the company specializes in purchasing and servicing auto loans made by franchised and independent auto dealers. Nicholas Financial's stock has been publicly traded on the NASDAQ - GS Global Select Market System under the symbol NICK since 1987.
With a focus on maximizing shareholder equity, Nicholas Financial has implemented a restructuring plan that includes outsourcing its servicing operation. The company aims to reduce expenses while maintaining the quality of its service. Despite recent net losses driven by a rise in delinquencies and credit losses, Nicholas Financial is working towards returning to profitability by originating new business on a smaller scale with an emphasis on quality indirect loans.
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