Exhibit 99.1

						FOR IMMEDIATE RELEASE
NICHOLAS                      Nicholas Financial, Inc.  Corporate Headquarters  2454 McMullen-Booth Rd.  Building C, Suite 501  Clearwater, FL 33759		Contact:		Kelly Malson CFO Ph # 727-726-0763		NASDAQ: NICK Web site: www.nicholasfinancial.com

Nicholas Financial Reports

1^st Quarter Results

August 2, 2018 – Clearwater, Florida – Nicholas Financial, Inc. (NASDAQ: NICK) announced that its net income for the three months ending June 30, 2018 was $1.4 million compared to $0.8 million for the three months ending June 30, 2017. Diluted net earnings per share increased to $0.18 for the three months ended June 30, 2018 as compared to $0.10 for the three months ended June 30, 2017. Although, revenue decreased 15.5% to $18.8 million for the three months ended June 30, 2018 as compared to $22.2 million for the three months ended June 30, 2017, the Company’s operating income before income taxes increased for the three months ending June 30, 2018 to $2.0 million compared to $1.3 million for the three months ending June 30, 2017.

“Although we have a long way to go and much more to accomplish, we are pleased with the significant headway we have made thus far,” commented Doug Marohn, President and CEO. “We improved overall operating results in the first quarter and reduced delinquency and charge-off performance year-over-year, which allowed for us to enjoy a nice increase to the bottom line. We not only improved our financial results over the first quarter of fiscal 2018, but also surpassed our internal expectations. Our focus on financing primary transportation to and from work for the subprime borrower continues to contribute to improved metrics in terms of increased yield, smaller amounts financed and shorter terms.”

The Company began modifying its underwriting guidelines half way through fiscal 2018, to improve the quality of contracts being purchased. These changes led to a decrease in the dollar amount of Contracts purchased by approximately $5.0 million, or 18.4%, during the three months ended June 30, 2018 as compared to the three months ended June 30, 2017. However, the number of Contracts purchased only decreased by 176, or 7.5%, over the same period of time. The revenue decrease during the three months ended June 30, 2018 as compared to the three months ended June 30, 2017, was a result of this reduction in Contracts. With tighter underwriting guidelines and a decreasing portfolio, the Company’s provision for credit losses saw a 44.4% improvement for the three months ended June 30, 2018 compared to the three months ended June 30, 2017.

*The averages included in the table are calculated as a simple average.

“In addition to our improved operating control, we continue to revamp our corporate operations to build for the future. In this past quarter we were able to bring in our new CFO, Kelly Malson, and the Audit Committee appointed RSM US, LLP, as our independent registered public accounting firm” added Marohn. “We will continue to remain dedicated to the branch-based model but will also continuously evaluate all aspects of our operations to try and find more and better ways to meet the increasing challenges posed by the competitive market.”

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 7.9 million shares of voting 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 risk relating to competition and our ability to increase and maintain yield and profitability at desirable levels, as well as risks relating to 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, 2018. Such statements are based on the beliefs of Company management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially from those anticipated, estimated or expect. All forward-looking statements and cautionary statements included in this document are made as of the date hereof 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 statement of income 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”), excluding any Chapter 13 bankruptcy accounts:

(In thousands, except percentages)

The following table presents selected information on Contracts purchased by the Company(1):

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

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