Exhibit 99.1

Nicholas Financial Reports

1^st Quarter Results

August 3, 2017 – Clearwater, Florida - Nicholas Financial, Inc. (NASDAQ: NICK) announced that for the three months ended June 30, 2017, diluted earnings per share decreased 73% to $0.10 as compared to $0.37 for the three months ended June 30, 2016. Net earnings were $0.8 million and $2.9 million for the three months ended June 30, 2017 and 2016, respectively. Revenue decreased 3% to $22.2 million for the three months ended June 30, 2017 as compared to $22.9 million for the three months ended June 30, 2016.

Our net earnings for the three months ended June 30, 2017 were adversely affected primarily by an increase in the provision for credit losses due to higher charge-offs and past-due accounts along with a reduction in the gross portfolio yield. Additionally, several negative factors, continue to put pressure on our net earnings, including an extremely competitive market, higher than expected losses, and a continuous decline in auction proceeds. We remain cautious with respect to near term losses as delinquency percentages remain elevated.

“Throughout this past quarter, we continued to experience intense competition from existing market participants. During this same time period, automobile dealerships which the Company conducts business with have reported declining sales. The combination of robust competition, fewer applications received by the Company for potential loan approval and recent changes by the Company to its underwriting guidelines has led to a 33% reduction in Contracts acquired during the three months ended June 30, 2017 as compared to the three months ended June 30, 2016. We will not expand the number of contracts purchased by incurring risk that is not priced appropriately and not conducive to providing long-term sustainable value. These ongoing market conditions require us to gain momentum regarding our ability to adapt to a competitive cycle that, for the foreseeable future, gives no indication of subsiding. For us, that involves further evaluation of our current business structure, as well as, our overall operating strategy” stated Ralph T. Finkenbrink, the Company’s President and CEO.

Nicholas Financial, Inc. is one of the largest publicly-traded specialty consumer finance companies in North America. The Company operates branch locations in both Southeastern and Midwestern U.S. states. The Company has approximately 7,824,000 shares of common stock outstanding. For an index of Nicholas Financial, Inc.’s news releases or to obtain a specific release, visit our web site at www.nicholasfinancial.com.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties including general economic conditions, access to bank financing, and other risks detailed from time to time in the Company’s filings and reports with the Securities and Exchange Commission including the Company’s Annual Report on Form 10-K for the year ended March 31, 2017. Such statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially. All forward-looking statements and cautionary statements included in this document are made as of the date hereby based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward looking statement or cautionary statement.

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Nicholas Financial, Inc.

Condensed Consolidated Statements of Income

(Unaudited, Dollars in Thousands, Except Share and Per Share Amounts)

Condensed Consolidated Balance Sheets

(Unaudited, In Thousands)

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Note: All three-month performance indicators expressed as percentages have been annualized.

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The following tables present certain information regarding the delinquency rates experienced by the Company with respect to automobile finance installment contracts (“Contracts”) and direct consumer loans (“Direct Loans”) on a gross basis which includes unearned interest, excluding any Chapter 13 bankruptcy accounts:

(In thousands, except percentages)

The following table presents selected information on Contracts purchased by the Company, net of unearned interest (1):

The following table presents selected information on the entire Contract portfolio of the Company (1):

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