Welcome to our dedicated page for Regional Mgmt news (Ticker: RM), a resource for investors and traders seeking the latest updates and insights on Regional Mgmt stock.
Regional Management Corp (NYSE: RM) provides essential consumer finance solutions through installment loans and credit services. This news hub offers investors and stakeholders timely updates on corporate developments, financial performance, and industry positioning.
Key resources include quarterly earnings announcements, SEC filings analysis, leadership updates, and strategic initiative reports. Track regulatory developments affecting consumer lending practices and RM's responses to market trends in credit accessibility.
Featured content categories encompass loan portfolio updates, risk management strategies, and service expansion announcements. Discover how RM maintains its market position through customer-centric lending practices and operational efficiency improvements.
Bookmark this page for consolidated access to verified RM updates. Combine regular monitoring with SEC.gov filings for comprehensive investment research. Always consult multiple sources when making financial decisions.
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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