secwatch.observer — SEC 8-K summary
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Issuer:     OLD MARKET CAPITAL Corp (OMCC)
CIK:        0001000045
Form:       8-K
Filed at:   2022-11-04T23:59:59+00:00
Accession:  0000950170-22-022210
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nicholas Financial reports Q2 net loss of $3.2M; charge-offs surge to 12.4%
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- Net loss of $3.2M ($0.44 diluted EPS loss) vs net income of $1.6M ($0.21 EPS) YoY.
- Interest and fee income $12.2M, down 2.6% YoY; provision for credit losses up 538% to $8.9M.
- Net charge-off rate rose to 12.4% from 4.9% YoY, driven by portfolio normalization.
- Originations in new contracts purchased rose 1.1% vs last year; portfolio yield declined to 27.4%.
- CEO emphasizes focus on servicing portfolio, reducing expenses, and regaining profitability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000045/000095017022022210/0000950170-22-022210-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000045/000095017022022210/nick-20221104.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-022210

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer