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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) will report its first quarter 2023 results on May 3, 2023, after market close. A conference call to discuss the results will follow at 5:00 PM ET, accessible via dial-in at (855) 327-6837 (toll-free) or (631) 891-4304 (international). Interested parties can also tune in to a live webcast on Regional Management’s website. A replay of the call will be available for one year. Regional Management offers consumer finance solutions, primarily targeting customers with limited access to traditional credit, through its online and branch operations in 19 states in the U.S.
Regional Management Corp. (NYSE: RM) has announced the commencement of lending operations in Arizona, marking its entry into the 19th U.S. state. The company plans to open its first branch in Arizona during Q2 2023. President Robert W. Beck emphasized the excitement of offering affordable financial solutions and highlighted the company's strategy of measured expansion for sustainable growth. Regional Management specializes in providing installment loans to customers with limited access to traditional credit sources, operating under the name 'Regional Finance.'
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
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.
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