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Marlin Business Services Corp. has completed its acquisition by funds managed by affiliates of HPS Investment Partners for $23.50 per share in cash, effective January 20, 2022. With this acquisition, Marlin becomes part of HPS's Global Leasing Platforms, which operate in 11 countries with €4.5 billion in lease assets and over €2.4 billion in annual originations. CEO Jeffrey A. Hilzinger expressed optimism about new market opportunities and enhanced service for small businesses. Following the acquisition, Marlin's common stock will no longer be listed on the Nasdaq Global Select Market.
Marlin Business Services Corp. (NASDAQ: MRLN) has updated the status of its proposed merger with an HPS Investment Partners subsidiary. The company has successfully met all closing conditions, including the surrender of banking licenses, known as the De-Banking Condition. The merger is set to close on January 20, 2022, with HPS acquiring all outstanding shares at $23.50 each in an all-cash deal. This merger aims to enhance Marlin's efficiency and market reach, ultimately benefiting small businesses seeking capital solutions.
Marlin Business Services Corp. (MRLN) reported a third-quarter net income of $5.5 million, or $0.45 per diluted share, reflecting an increase from $2.7 million a year prior but a decrease from $10.3 million last quarter. The company reported $98.7 million in sourced origination volume, up 44.1% year-over-year. Marlin's Board declared a quarterly dividend of $0.14 per share, payable on November 18, 2021, with an annualized yield of 2.49%. Progress continues on the proposed merger with HPS Investment Partners, targeting closure within the first six weeks of 2022.
Marlin Business Services Corp. (NASDAQ: MRLN) reported a strong second quarter 2021, achieving net income of $10.3 million ($0.84 per diluted share), a significant improvement from a net loss of $5.9 million a year prior. The company’s total sourced origination volume reached $100.9 million, up 50.1% year-over-year. Additionally, on July 29, 2021, the Board declared a quarterly dividend of $0.14 per share, payable on August 19, 2021. Marlin is progressing towards a merger with HPS Investment Partners, expected to close in Q1 2022, underlining confidence in business performance.
Marlin Business Services Corp. (NASDAQ: MRLN) announced a first-quarter net income of $6.9 million, or $0.57 per diluted share, reversing a net loss of $11.8 million a year ago. However, this is a decline from $15.3 million, or $1.28 per share, in the previous quarter. The company’s total sourced origination volume fell to $83.8 million, down 46.8% year-over-year. Delinquencies decreased to 1.16%, and net charge-offs improved to 1.67%. Marlin declared a quarterly dividend of $0.14 per share, payable on May 20, 2021, representing a 2.50% yield based on the April 28 closing price.
Marlin Business Services Corp. (NASDAQ: MRLN) announced a definitive agreement for HPS Investment Partners LLC to acquire all outstanding shares at $23.50 each, a 65% premium over the April 16 closing price of $14.24. The deal values Marlin at approximately $200 million and is expected to close in Q1 2022, pending regulatory and shareholder approvals. Following the acquisition, Marlin will become a privately held entity, ceasing its operations as a bank. This transaction reflects Marlin's value post-pandemic transformation, aiming to maximize shareholder returns.
Marlin Business Services Corp. (NASDAQ: MRLN) reported a strong fourth quarter, achieving net income of $15.3 million ($1.28 per diluted share), significantly up from $8.4 million ($0.69) a year ago. Despite the challenges of 2020, total stockholders’ equity rose to $196.4 million, and the company declared a $0.14 quarterly dividend payable on February 18, 2021. Total sourced origination volume increased to $84.1 million, yet it's down 64.5% year-over-year. The allowance for credit losses stood at $44.2 million, reflecting a strong capital position with a total risk-based capital ratio of 24.04%.
Marlin Business Services Corp. (NASDAQ: MRLN) will release its fourth quarter and full year 2020 financial results on January 28, 2021, after market close. A conference call to discuss the results is scheduled for January 29, 2021, at 9:00 a.m. ET. Interested parties can participate through a dial-in number or via webcast. Marlin aims to provide capital solutions to small businesses, focusing on helping them achieve their goals. For more details about the conference call and Marlin's mission, visit their website.
Marlin Business Services Corp. (MRLN) reported a net income of $2.7 million, or $0.23 per diluted share, showing recovery from a $5.9 million loss last quarter. The company ended Q3 with $182.4 million in stockholders' equity and a book value of $15.23 per share. However, total sourced origination volume significantly declined by 66% year-over-year to $68.5 million. The company declared a $0.14 dividend, payable on November 19, 2020.
Marlin Business Services Corp. (NASDAQ: MRLN) will announce its third quarter 2020 financial results on October 29, 2020, after market close. A conference call to discuss these results is scheduled for October 30, 2020, at 9:00 a.m. ET. Investors can participate by dialing in or through a webcast. Marlin is dedicated to providing capital solutions to small businesses, helping them achieve their goals. For more information, visit their website or contact their investor relations team.
