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Goodwill and Intangibles | 9 Months Ended
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Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | 5. Goodwill and Intangibles On April 30, 2019, the Company completed an acquisition of three branches, representing substantially all of the assets, of ML Credit Group, LLC (d/b/a Metrolina Credit Company) (“Metrolina”). Two acquired branches are located in the state of North Carolina and one branch is located in South Carolina. Based on its evaluation of the agreement, the Company accounted for the acquisition as a business combination. In conjunction with the acquisition, the Company allocated the purchase price, tangible assets, and intangible assets among the acquired branches based on the fair values of their respective acquired assets. As of December 31, 2019, the accounting related to this acquisition is preliminary. The final determination of the fair value of the customer lists and goodwill will be completed within the twelve-month measurement period from the date of the acquisition as required by FASB ASC Topic 805-10-25. The Company recorded the following goodwill and intangibles in its preliminary accounting for this acquisition.
|  | As of |
|  | December 31, 2019 |
Acquisitions: |  |  |  |
Number of branches acquired through business combinations |  | 3 |
Purchase price |  | $ | 20,483 |
Tangible assets: |  |  |  |
Finance receivable, net |  |  | 20,097 |
Other assets |  |  | 144 |
Assumed liabilities |  |  | (160 | )
Total net tangible assets |  |  | 20,081 |
Excess of purchase prices over carrying value of net tangible assets |  | $ | 402 |
Indirect dealer network relationships |  | $ | 64 |
Direct customer relationships |  |  | 43 |
Goodwill |  |  | 295 |
Total goodwill and intangible assets |  | $ | 402 |
For the measurement period adjustment, for three months ended as of December 31, 2019, the Company reduced an insignificant amount of liabilities related to the purchase of Metrolina with a corresponding reduction to goodwill. For the nine months ended as of December 31, 2019, the Company incurred approximately $278,000 in expenses related to the purchase of the Metrolina assets.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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