Nicholas Financial(NICK) - 2024 Q4 - Annual Results

Company utilized the incurred loss methodology, by applying a trailing twelve-month net charge-off as a percentage of average finance receivables to the ending finance receivables to estimate probable credit losses and maintain an allowance for credit losses. The net charge-off percentage, which represents charge-offs less recoveries divided by average finance receivables outstanding during the period, decreased to 23.9% from 30.9% for the three months ended March 31, 2024 and 2023, respectively. The custom ...