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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) announced the appointment of Philip Bancroft as a new member of its Board of Directors. With a strong background as the former CFO of Chubb (NYSE: CB) and extensive experience in financial and risk management, Bancroft's addition increases the board's size to nine members. His expertise is expected to enhance Regional's financial capabilities and support ongoing digital growth initiatives. The announcement signifies a strategic move to bolster leadership as the company continues to expand its market presence.
Regional Management Corp. (NYSE: RM) will release its fourth quarter 2021 results on February 9, 2022, after market close. A conference call to discuss these results is scheduled for 5:00 PM ET the same day, with a live webcast available on their website. Interested participants can dial in at (855) 327-6837 or (631) 891-4304. The company, operating approximately 350 branches across 13 states, specializes in consumer finance, providing secure installment loans primarily to customers with limited access to traditional credit.
Regional Management Corp. (NYSE: RM) announced that its President and CEO, Robert W. Beck, along with CFO Harp Rana, will participate in a fireside chat at the Stephens Annual Investment Conference on December 1, 2021, at 1:00 PM Central Time. Investors interested in the event can listen to the webcast via the company’s investor relations website. Regional Management Corp. provides installment loans primarily to consumers with limited access to credit, operating over 340 branches across 13 states, with a focus on secured, fixed-rate loan products.
Regional Management Corp. has achieved a major milestone by migrating 100% of its workloads to VMware Cloud, transitioning from on-premises data centers in under six months. This strategic move enhances the company's operational resilience and agility, aligning with its omni-channel growth strategy. The partnership with Deloitte and VMware improves infrastructure, minimizes downtime, and supports innovation in customer experience. Joseph Manavalan, the CTO, emphasizes that this cloud transition allows the company to focus on delivering better value and innovation for customers while retaining top engineering talent.
Regional Management Corp. (RM) reported a net income of $22.2 million with diluted earnings per share of $2.11 for Q3 2021, reflecting a 23.1% year-over-year revenue growth. The company achieved record loan originations of $420.7 million, with finance receivables totaling $1.3 billion. Delinquencies remained stable at 4.7%, well below the allowance for credit losses of $150.1 million. The company plans to expand operations to 5-7 states by 2022 and has raised its full-year income outlook to between $85 million and $87 million.
Regional Management Corp. (NYSE: RM) has successfully closed a $125 million private asset-backed securitization with a large institutional investor, featuring a fixed coupon rate of 3.875%. This transaction enhances the company’s capital structure by providing fixed-rate funding for five years, allowing for the reduction of variable-rate debt. With 87% of its long-term debt now fixed rate and a weighted average cost of 2.7%, the company is poised for sustainable growth and increased returns for shareholders.
Regional Management Corp. (NYSE: RM) will report its third quarter 2021 results on November 2, 2021, 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 toll-free dial-in for the call is (855) 327-6837. A replay will be accessible for one year.
Regional Management, operating over 360 branches in 13 states, specializes in consumer finance through installment loans for customers with limited access to traditional credit sources.
Regional Management Corp. (NYSE: RM) has expanded its operations by opening a new branch in Provo, Utah, marking the company's entry into its 13th U.S. state. CEO Robert W. Beck expressed enthusiasm about providing affordable financial solutions to consumers in Utah and indicated plans for an additional branch in Salt Lake City later this year. The company aims to enter five to seven more states by the end of 2022 while enhancing its digital capabilities. This expansion strategy positions Regional Management to gain market share and deliver strong returns to shareholders.
Regional Management Corp. (NYSE: RM) has announced that its director, Maria Contreras-Sweet, has been recognized as one of the most influential leaders in the boardroom by the National Association of Corporate Directors (NACD) in their 2021 NACD Directorship 100. This honor highlights her significant impact on corporate governance since joining the board in 2018. The recognition will take place during a virtual gala on November 9, 2021, and honorees will feature prominently in the NACD's magazine.
Regional Management Corp. (NYSE: RM) has appointed Chris Peterson as the Chief Data and Analytics Officer to enhance its data-driven strategies. His experience includes over 20 years in data sciences, previously at Capital One, where he led data science teams. This move supports Regional's growth initiatives, particularly in digital lending, and aims to optimize underwriting and risk management using alternative data sources. The appointment aligns with the company’s omni-channel model and commitment to sustainable long-term growth for shareholders.
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