Regional Mgmt Corp Stock Price, News & Analysis

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.

Regional Management Corp. (NYSE: RM) announced the opening of its first branch in Riverside, California, marking its expansion into the state. This is the 16th U.S. state for the company, enhancing its coast-to-coast presence and increasing its market reach by approximately 33%. CEO Robert W. Beck highlighted that the expansion aligns with their strategy to capture market share and provide affordable financial solutions. Regional Management operates under the name 'Regional Finance' and offers installment loan products primarily to consumers with limited access to credit.

Regional Management Corp. (NYSE: RM) will report its second quarter 2022 results on August 3, 2022, after market close. A conference call will be held at 5:00 PM ET the same day to discuss the results, with a live webcast available on the company's website. Participants can join the call using the toll-free number (855) 327-6837 or (631) 891-4304 for international calls, dialing in 10 minutes prior. A replay of the call will be accessible for one year on the website, providing insights into their consumer finance operations across 15 states.