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Regional Management Corp. (symbol: RM) is a leading consumer finance company in the United States, established in 1987. The company specializes in providing installment loan products to individuals with limited access to traditional consumer credit from banks, thrifts, credit card companies, and other lenders. With a focus on customer-centric services, Regional Management Corp. offers both small and large installment loans, along with optional payment and collateral protection insurance. The company's primary revenue comes from interest and fee income on outstanding loans.
Regional Management Corp. takes immense pride in its commitment to quality customer service and has built a strong reputation for putting its customers first. The company’s success is largely attributed to its dedicated employees who are integral to its operations. There are ample opportunities for career advancement within the company, making it an attractive workplace for those who are hardworking and diligent.
Recent achievements and ongoing projects at Regional Management Corp. include expanding their range of financial products and enhancing customer service technologies to provide an even better customer experience. The company continues to grow steadily, reflecting its robust financial health and strategic partnerships. By focusing on community needs, Regional Management Corp. not only aims to improve the financial well-being of its customers but also contributes positively to the broader economic landscape.
Stay updated with the latest news and developments about Regional Management Corp. to keep track of their performance, new projects, and financial reports.
Regional Management Corp. (NYSE: RM) has announced a $30 million stock repurchase program through December 2026 and outlined its growth outlook for 2025. The company expects 10-12% growth in ending net receivables for 2025, up from approximately 6% in 2024. Since 2020, RM has expanded into eight new states, increasing its addressable market by over 80%. The company plans to open 10 new branches in Q4 2024/Q1 2025, with up to 10 additional branches in H2 2025. Growth strategy focuses on auto-secured and higher-margin small loan portfolios, leveraging improved consumer health and stronger macroeconomic conditions.
Regional Management Corp (NYSE: RM) has completed its 11th asset-backed securitization worth $250 million. The RMIT 2024-2 notes were issued at a weighted-average coupon of 5.34%, representing an 85 bps improvement over the previous issuance. The securitization is secured by $284 million in receivables with a 2-year revolving period. The Class A notes received 'AAA' ratings from S&P and Morningstar DBRS. The proceeds were used to pay off RMIT 2022-2B notes with a 7.51% coupon. The deal was 5.4 times oversubscribed, with the company's fixed-rate debt now representing 83% of total debt, carrying a 4.1% weighted-average coupon.
Regional Management Corp. (NYSE: RM) reported third quarter 2024 results with net income of $7.7 million and diluted earnings per share of $0.76, impacted by $4.3 million due to hurricane events. The company achieved record revenue of $146.3 million and net finance receivables of $1.8 billion, driven by $46 million sequential portfolio growth. Credit performance improved with a net credit loss rate of 10.6% and 30+ day delinquency rate of 6.9%, both showing 40 basis points improvement year-over-year. Operating expenses increased only 0.6% with an improved ratio of 13.9%. The Board declared a dividend of $0.30 per share for Q4 2024.
Regional Management Corp. (NYSE: RM), a diversified consumer finance company, has announced it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company will host a conference call to discuss the results at 5:00 PM ET on the same day.
Interested parties can access the live webcast of the conference call on Regional Management's website at www.RegionalManagement.com. For those who prefer to dial in, the toll-free number is (844) 826-3035, while the international number is (412) 317-5195. Participants are advised to dial in 10 minutes before the scheduled start time. A replay of the webcast will be available on the company's website for one year following the call.
Regional Management Corp. (NYSE: RM), a consumer finance company, is offering assistance to customers in the Southeast affected by Hurricane Helene. The company's programs include loan payment deferrals, loan modifications, and fee waivers for eligible customers. Regional Finance team members are also ready to help with filing insurance claims.
Robert W. Beck, President and CEO, expressed concern for impacted customers and team members, thanking first responders and others working to restore communities. He also praised Regional's team for their support efforts since Friday. The company, headquartered in Upstate South Carolina, encourages affected customers to call 877-762-8011 for assistance options and insurance claims filing.
Regional Management Corp. (NYSE: RM) announced strong Q2 2024 results, with net income of $8.4 million and diluted EPS of $0.86, up 37% from $0.63 in the prior-year period. The company reported year-over-year growth of 7% in customer accounts, originations, and revenue, driven by a 5% increase in ending net receivables and an 80 bps increase in total revenue yield. Key highlights include:
- Net finance receivables reached $1.8 billion, up 5.0% year-over-year
- Total revenue increased to $143.0 million, up 7.1% from the prior-year period
- 30+ day contractual delinquency rate of 6.9% as of June 30, 2024
- Operating expense ratio of 13.8%
- Declared a dividend of $0.30 per common share for Q3 2024
The company maintains a strong liquidity position with $149.4 million available and a funded debt-to-equity ratio of 4.0 to 1.0.
Regional Management Corp. (NYSE: RM), a diversified consumer finance company, will release its second quarter 2024 financial results on Wednesday, July 31, 2024, post-market close. The company will hold a conference call to discuss these results at 5:00 PM ET the same day. Investors and interested parties can access the live webcast on the company's website, RegionalManagement.com. Toll-free and international dial-in options are available for the conference call. A replay of the call will be accessible on the website for one year.
Regional Management Corp. (NYSE: RM) has successfully completed a $187.3 million asset-backed securitization, its tenth such transaction. The notes, issued under Regional Management Issuance Trust 2024-1, come with a weighted-average coupon of 6.19%, a 132 bps improvement over the prior issuance. The securitization is backed by $215.7 million in receivables and features a 3-year revolving period. The Class A notes achieved a top 'AAA' rating from Standard & Poor’s and Morningstar DBRS. According to CEO Robert W. Beck, this transaction strengthens the company’s balance sheet, diversifies funding sources, and reduces interest rate risk. The company now has 87% fixed-rate debt with a weighted-average coupon of 4.1% and a revolving duration of 1.2 years. The offering was private and not registered under the Securities Act of 1933.
Regional Management Corp. (NYSE: RM) announced it raised $52,000 for the American Heart Association’s Upstate Heart Walk through its community program, Regional Reach. The event took place on April 21 in downtown Greenville, South Carolina. Over the past five years, the company has raised over $400,000 for the AHA. In this year's walk, three of the company's teams were among the top five fundraisers. The company also engaged in heart-healthy activities, logging over 15,000 minutes in the Move More challenge. CEO Robert Beck emphasized the event's positive impact on the company and the community.
Regional Management Corp. (NYSE: RM) reported strong first quarter 2024 results with a net income of $15.2 million and diluted earnings per share of $1.56, an increase from $0.90 in the prior-year period. The company maintained a 30+ day delinquency rate of 7.1% with disciplined expense management and operating expense ratio of 13.7%. Revenue yield reached 32.8%, up by 80 basis points from the prior year, leading to record quarterly revenue of $144 million. Net finance receivables increased by $68.1 million to $1.7 billion, and total loan originations were $326.4 million, a 7.6% increase from the prior-year period. The provision for credit losses decreased by 2.6% to $46.4 million. The company declared a dividend of $0.30 per common share for the second quarter of 2024. Regional Management Corp. remains cautiously optimistic about the economy and credit performance while focusing on profitable growth and expense management.
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