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Nicholas adds Midwest offices


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  • | 9:23 p.m. April 5, 2011
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CLEARWATER — Nicholas Financial Inc. (symbol: NICK), the Clearwater-based auto lender, opened two new offices in the Midwest this month: one in St. Louis, and one in Villa Park, Ill., near Chicago.

Nicholas now operates 56 offices in 14 states throughout the nation, and plans to grow more in the near future.

“We intend to add additional branches in our new Missouri and Illinois markets as soon as they can be developed,” explains Douglas Marohn, a senior vice president with Nicholas, in a prepared statement. “Our success in Ohio, Michigan and Indiana has convinced us that the opportunity for successful growth in these markets is excellent.”

Nicholas Financial earned $4.5 million in profits on $16 million in revenues over the last three months of 2010. An unsolicited acquisition offer made by an unnamed party in early January boosted the company's stock value by nearly 20%; today, the stock trades for roughly $12.25 a share.

 

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