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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 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.
Regional Management Corp. (NYSE: RM) reported a strong second quarter for 2021, with net income soaring to $20.2 million compared to $7.5 million a year earlier. The company achieved a record loan origination of $373 million, driving net receivables to an all-time high of $1.2 billion. Key performance indicators included a 7.1% ROA and a 28.7% ROE. The 30+ day delinquency rate fell to a historic low of 3.6%, while total revenue increased by 10.9% to $99.7 million. The company also plans to open 15 to 20 new branches in 2021 and has approved a $20 million increase in its stock repurchase program.
Regional Management Corp. (NYSE: RM) will report its second quarter 2021 results after market close on August 3, 2021. A conference call is scheduled for 5:00 PM ET, with a live webcast available on Regional Management’s website. Dial-in details include a toll-free number (855) 327-6837 and an international line (631) 891-4304, with participants advised to call 10 minutes early. A replay of the call will be accessible on the website for one year. Regional Management specializes in consumer finance, offering installment loans to customers with limited access to traditional credit.
Regional Management Corp. (NYSE: RM) announced it raised over $120,000 for the American Heart Association (AHA) through its community outreach program, Regional Reach. The virtual Upstate Heart Walk, held on April 24, had participation from over 600 walkers across 366 branches in 12 states. Regional Management has excelled as the top fundraising team for two consecutive years, significantly contributing to the AHA’s mission to combat heart disease. The company's CEO emphasized their commitment to community support, which is integral to their corporate identity.
Regional Management Corp. (NYSE: RM) reported record earnings for Q1 2021, with net income of $25.5 million, a significant turnaround from a net loss of $6.3 million in Q1 2020. The company saw a 1.7% increase in total revenue to $97.7 million, boosted by enhanced credit performance and a 25% increase in quarterly dividends to $0.25 per share. The allowance for credit losses decreased by 77.1%, reflecting improved delinquency rates, which fell to 4.3%. The company also launched a new $30 million stock repurchase program, aiming to further strengthen shareholder returns.
Regional Management Corp. (NYSE: RM) announced a $100 million expansion of its warehouse facility capacity, reaching a total of $300 million, through a new deal with JP Morgan. This complements previous agreements with Wells Fargo and Credit Suisse, marking a total increase of $175 million from the prior capacity of $125 million. CEO Robert W. Beck emphasized that this expansion will enhance their growth strategy and shareholder returns, positioning the company for sustainable growth.
Regional Management Corp. (NYSE: RM) announced the expansion of operations into Illinois, marking its 12th U.S. state with a new branch in Maryville. This branch is the company’s 366th location and is part of an ongoing strategy to enhance its Midwest presence. The company plans to open more branches in Illinois throughout 2021, alongside entering four to six additional states in the next 18 months. Additionally, it has increased warehouse capacity by $75 million, allowing for greater investment in growth initiatives.
Regional Management Corp. (NYSE: RM) will announce its first quarter 2021 results on May 4, 2021, after market close.
A conference call is scheduled for 5:00 PM ET that same day, with a live webcast available at www.RegionalManagement.com. Investors can join the call by dialing (855) 327-6837 or (631) 891-4304 internationally, 10 minutes before it starts. A replay of the call will be accessible for one year on the company's website.
Regional Management provides consumer finance products primarily to customers with limited access to traditional credit.
Regional Management Corp. (NYSE: RM) announces participation in a fireside chat at the Credit Suisse 22nd Annual Virtual Financial Services Forum on February 24, 2021, at 12:10 PM ET. President Robert W. Beck and CFO Harp Rana will represent the company. This event offers investors the chance to listen via the company’s investor relations website.
Regional Management provides accessible installment loan products primarily aimed at customers with limited credit access, operating 365 branches across 11 U.S. states as of December 31, 2020.
Regional Management Corp. (NYSE: RM) reported strong fourth-quarter results for 2020, showing portfolio growth and profitability even in challenging conditions. Key highlights include a net income of $14.3 million with diluted earnings per share of $1.28. Core loan portfolio expanded by $80 million in the quarter, with total net finance receivables at $1.1 billion, a 7.2% increase from the previous quarter. The company aims to expand its market share and invest in digital initiatives while maintaining a stable delinquency rate of 5.3%. Additionally, they declared a dividend of $0.20 per share for Q1 2021.
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