---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-002356"
form_type: "8-K"
ticker: "OMCC"
cik: "0001000045"
company_name: "OLD MARKET CAPITAL Corp"
filed_at: "2023-02-09T23:59:59+00:00"
generated_at: "2026-06-19T18:59:31.090921+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nicholas Financial reports Q3 net loss of $13.4M; restructures and halts direct loans

## Summary
- Net loss of $13.4M (diluted EPS -$1.85) vs $0.7M loss prior year.
- Discontinued direct consumer loans; new contract originations fell 76.8% YoY.
- Provision for credit losses rose 541.6% to $10.7M from $1.7M.
- Restructuring expenses of $3.2M in Q3 ($4.0M YTD) from branch closures and severance.
- Outsourced loan servicing to Westlake Portfolio Management; new credit facility in Jan 2023.

## SEC filing metadata
- accession: 0000950170-23-002356
- form_type: 8-K
- ticker: OMCC
- cik: 0001000045
- company_name: OLD MARKET CAPITAL Corp
- filed_at: 2023-02-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000045/000095017023002356/0000950170-23-002356-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000045/000095017023002356/nick-20230209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-002356
- JSON: https://secwatch.observer/filing/0000950170-23-002356.json
- Plain text: https://secwatch.observer/filing/0000950170-23-002356.txt

## Key facts
- Earnings Releases
  OLD MARKET CAPITAL Corp reported three months ended December 31, 2022 results: net income net loss of $13.4 million, EPS Basic and diluted net loss per share was $1.85.
  - Period: three months ended December 31, 2022
  - Net income: net loss of $13.4 million
  - EPS: Basic and diluted net loss per share was $1.85
  - Result: reported results
  source text: announced a net loss for the three months ended December 31, 2022 of $13.4 million compared to net loss of $0.7 million for the three months ended December 31, 2021. Basic and diluted net loss per share was $1.85 for the three months ended December 31, 2022 as compared to basic and diluted net loss per share of $0.09 for the three months ended December 31, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000045/000095017023002356/0000950170-23-002356-index.htm
- Earnings Releases
  OLD MARKET CAPITAL Corp reported nine months ended December 31, 2022 results: net income net loss for the nine months ended December 31, 2022 of $18.3 million, EPS Basic and diluted net loss per share was $2.49.
  - Period: nine months ended December 31, 2022
  - Net income: net loss for the nine months ended December 31, 2022 of $18.3 million
  - EPS: Basic and diluted net loss per share was $2.49
  - Result: reported results
  source text: announced net loss for the nine months ended December 31, 2022 of $18.3 million compared to net income of $2.6 million for the nine months ended December 31, 2021. Basic and diluted net loss per share was $2.49 for the nine months ended December 31, 2022 as compared to basic and diluted net income per share of $0.34 for the nine months ended December 31, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000045/000095017023002356/0000950170-23-002356-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.