REGIONAL MANAGEMENT CORP - RM STOCK NEWS

Regional Management Corp. (NYSE: RM) reported strong fourth-quarter results for 2022, achieving a net income of $2.4 million, or $0.25 diluted EPS. Adjusted net income rose to $5.0 million, yielding an adjusted diluted EPS of $0.54. The company’s finance receivables grew to $1.7 billion, up 19.2% year-over-year. Despite a 30+ day delinquency rate of 7.1%, early indicators show improved credit performance. Notably, the company sold a non-performing loan portfolio, negatively impacting revenue by $2.2 million. The Board declared a $0.30 dividend, payable on March 15, 2023. Looking forward, RM aims for controlled growth focusing on quality originations.

Regional Management Corp. (NYSE: RM) will report its fourth quarter 2022 results on February 8, 2023, after market close. A conference call is scheduled for 5:00 PM ET the same day, with a live webcast available on the company's website. The call can be accessed via dial-in at (855) 327-6837 for U.S. participants and (631) 891-4304 for international callers. A replay of the webcast will be available for one year. Regional Management provides consumer finance products primarily to customers with limited access to credit in 18 U.S. states.

Regional Management Corp. (NYSE: RM) has announced the commencement of lending operations in Idaho, marking its expansion into the Pacific Northwest and its 18th U.S. state. The company plans to open its first branch in Idaho in Q1 2023, aiming to provide affordable financial solutions to customers with limited access to credit. CEO Robert W. Beck emphasized that this expansion aligns with their strategy to capture more market share and deliver sustainable value to shareholders.

Regional Management Corp. (NYSE: RM) reported a net income of $10.1 million and diluted earnings per share of $1.06 for Q3 2022, marking decreases of 54.7% and 49.8% year-over-year. Despite these declines, the company achieved 22.3% growth in net finance receivables, reaching an all-time high of $1.61 billion, and 17.9% revenue growth to $131.5 million. Delinquencies rose to 7.2%, but proactive measures and strong demand for loan products helped maintain credit quality. The company also expanded into California and Louisiana, indicating ongoing growth.

Regional Management Corp. (NYSE: RM) successfully completed a $200 million asset-backed securitization, marking its ninth securitization. For the first time, the senior class of notes received an “AAA” rating from Standard & Poor's Ratings Services, indicating strong investor confidence. This transaction features a 2-year revolving period, strengthening the company’s balance sheet and diversifying funding sources. Nearly 100% of the company’s debt is fixed-rate with a weighted average coupon of 3.6%, positioning Regional Management to expand sustainably and profitably.

Polished.com Inc. has appointed Rick Bunka as interim CEO and Bob Barry as interim CFO, effective immediately. This leadership change follows the resignations of Albert Fouerti, Maria Johnson, and Elie Fouerti. The Board believes Bunka's extensive retail experience and Barry's finance expertise will strengthen the company’s operations. Polished has a track record of profitable growth in the household appliances market, valued at $22 billion, and aims to sustain momentum during this transitional phase.

Regional Management Corp. (NYSE: RM) announced its third quarter 2022 results will be released after market close on November 1, 2022. A conference call to discuss the results is scheduled for 5:00 PM ET that day, with a live webcast available on the company’s website. Interested parties can join the call by dialing (855) 327-6837 for toll-free or (631) 891-4304 for international access, 10 minutes before the start time. A replay will be accessible on the website for one year.

Regional Management provides consumer finance solutions across 17 states in the U.S., offering secured installment loans to clients with limited credit access.

Regional Management Corp. (NYSE: RM) has expanded its operations by opening a new branch in Metairie, Louisiana, now serving 17 U.S. states. This expansion increases the company’s total addressable market by approximately 75% since the pandemic began. CEO Robert W. Beck highlighted the company's commitment to providing affordable financial solutions to consumers in Louisiana, positioning for continued growth and long-term shareholder value.

Regional Management Corp. (NYSE: RM) reported strong second-quarter results for 2022, featuring a net income of $12 million and diluted EPS of $1.24. The firm achieved a record revenue of $122.9 million, marking a 23.3% year-over-year growth, alongside an all-time high in net finance receivables of $1.53 billion, up 28.9%. Despite rising credit losses and delinquencies, the company maintained a low operating expense ratio of 14.7%, indicating effective cost management. The company announced a dividend of $0.30 per share for Q3 2022, reinforcing its commitment to returning value to shareholders.