Regional Management Corp. Announces Second Quarter 2016 Results

Net income of $5.9 million; diluted earnings per share of
$0.49

Non-GAAP net income of $6.3 million; non-GAAP diluted
earnings per share of $0.53

Total finance receivables of $646 million, up 12.8% compared
to prior-year period

GREENVILLE, S.C.–(BUSINESS WIRE)–Regional Management Corp. (NYSE:RM), a diversified consumer finance
company, today announced results for the second quarter ended June 30,
2016.

Second Quarter 2016 Highlights

  • Net income for the second quarter of 2016 was $5.9 million, an
    increase of $0.5 million, or 9.3%, from the prior-year period;
    non-GAAP net income was $6.3 million, an increase of 16.5% from the
    prior-year period. Diluted earnings per share were $0.49, and on a
    non-GAAP basis, diluted earnings per share were $0.53, each calculated
    on a diluted share count of 12.0 million. Non-GAAP net income excludes
    $0.6 million of non-operating system implementation costs.
  • Total finance receivables as of June 30, 2016 were $646 million, an
    increase of 12.8% from the prior year and up 6.3% sequentially:

    • Fifth consecutive quarter that total finance receivables have
      increased at least 10% over the prior-year period.
    • Large loan finance receivables of $195 million increased $102
      million, or 109%, from the prior-year period and now represent
      over 30% of the total loan portfolio.
  • Total revenue for the second quarter of 2016 was $57.3 million, a $4.3
    million, or 8.2%, increase from the prior-year period. Revenue growth
    over the prior-year period was driven by a 12.8% increase in
    receivables, partially offset by an overall yield decline of 180 basis
    points. On a sequential basis, total yield was comparable to the prior
    two quarters.
  • Net charge-offs for the second quarter of 2016 were $13.4 million, an
    increase of $0.5 million versus the prior-year period. Annualized net
    charge-offs of 8.6% of average finance receivables were down 80 basis
    points compared to the prior-year period.
  • Total delinquencies as a percentage of total finance receivables as of
    June 30, 2016 were 18.3%, an increase from the seasonally low 16.7% as
    of March 31, 2016 and an improvement from 20.6% as of June 30, 2015.

    • 30+ day contractual delinquencies were 6.8%, an increase
      sequentially from 6.2% as of March 31, 2016 and from 6.4% as of
      June 30, 2015.

“The second quarter was a very solid quarter for the company across a
number of important dimensions,” said Michael R. Dunn, Chief Executive
Officer of Regional Management Corp. “Non-GAAP net income of $6.3
million was up 17% versus the prior-year period, driven by the combined
dynamic of volume-driven revenue, strong credit performance and a
relatively flat expense base. This is the operating model that we have
been building over the last six quarters, and it continues to produce
improved operating performance.”

“Earlier this month, we converted our second state, New Mexico, to our
new operating platform,” continued Mr. Dunn. “The system continues to
perform up to our expectations, and we remain on track to convert all of
our remaining states by year end. Finally, we also announced the
appointment of our new CEO, Peter R. Knitzer, effective August 1st.
Given Peter’s background, I am confident that he will successfully lead
the company going forward and believe that he will fully leverage the
company’s market opportunities.”

“I would also like to thank the entire Regional team for their
collective efforts in helping to re-establish Regional on the right
track over the past couple of years. We are now in a much better
position than when I first became CEO, and that is in large measure due
to their hard work and commitment to what we needed to do. I know they
will continue to support Peter with the same energy and commitment with
which they supported me,” concluded Mr. Dunn.

Second Quarter 2016 Results

Finance receivables outstanding at June 30, 2016 were $645.7 million, a
12.8% increase from $572.5 million in the prior year. Finance
receivables increased primarily due to an increase in both the small and
large loan portfolios and the net addition of 22 de novo branches since
June 30, 2015.

For the second quarter ended June 30, 2016, the Company reported total
revenue of $57.3 million, an 8.2% increase from $53.0 million in the
prior-year period. Interest and fee income for the second quarter of
2016 was $52.6 million, a 10.3% increase from $47.7 million in the
prior-year period, primarily due to an increase in the portfolios of
both small and large loans compared to the prior-year period and
partially offset by lower interest and fee yield, primarily in the
convenience check portfolio. Insurance income, net for the second
quarter of 2016 was $2.6 million, a decline of $0.5 million from the
prior-year period. Other income for the second quarter of 2016 was $2.1
million, a 3.5% decline from the prior-year period reflective of lower
late fee charges from the improving credit quality of the portfolio.

The provision for credit losses in the second quarter of 2016 was $13.4
million versus $12.1 million in the prior-year period. Net charge-offs
were $13.4 million in the second quarter of 2016 versus $12.9 million in
the prior-year period. Annualized net charge-offs as a percentage of
average finance receivables in the second quarter of 2016 were 8.6%, an
improvement from 9.4% in the prior-year period.

On a sequential basis, net charge-offs of $13.4 million were a reduction
of $1.6 million from the first quarter of 2016, consistent with the
smaller dollar amount of accounts in the last three delinquency buckets
at March 31, 2016 compared to December 31, 2015.

General and administrative expenses for the second quarter of 2016 were
$29.5 million, an increase of 4.6%, or $1.3 million, from the prior-year
period, driven in part by $0.6 million in loan system conversion costs.
Branch expenses in the second quarter of 2016 slightly increased $0.2
million from the prior-year period, even with 22 net new branches added
since June 30, 2015. Excluding the loan system conversion costs in the
second quarter of 2016, general and administrative expenses for the
second quarter of 2016 would have been $28.9 million versus $28.2
million in the prior-year period.

GAAP net income for the second quarter of 2016 was $5.9 million, a 9.3%
increase compared to GAAP net income of $5.4 million in the prior-year
period. Diluted earnings per share for the second quarter of 2016 were
$0.49, an increase from $0.41 in the prior-year period. Excluding the
aforementioned non-operating expense in the second quarter of 2016,
non-GAAP net income in the second quarter of 2016 would have been $6.3
million and diluted earnings per share would have been $0.53. For a
reconciliation of non-GAAP financial measures to the nearest comparable
GAAP financial measure, please refer to the reconciliation table
accompanying this release.

First Half 2016 Results

For the six months ended June 30, 2016, the Company reported total
revenue of $114.0 million, an 8.1% increase from $105.5 million in the
prior-year period. Interest and fee income for the six months ended June
30, 2016 was $103.9 million, a 9.7% increase from $94.7 million in the
prior-year period, primarily due to a significant increase in the
portfolios of both small and large installment loans compared to the
prior-year period. Insurance income for the six months ended June 30,
2016 was $5.5 million, an 8.4% decrease from the prior-year period.
Other income for the six months ended June 30, 2016 was $4.6 million, a
3.2% decline from the prior-year period reflective of lower late fee
charges from the improving credit quality of the portfolio.

The provision for credit losses for the six months ended June 30, 2016
was $27.2 million versus $21.8 million in the prior-year period. Net
charge-offs for the six months ended June 30, 2016 were $28.4 million
compared to $26.2 million in the prior-year period. Annualized net
charge-offs as a percentage of average finance receivables for the six
months ended June 30, 2016 was 9.1%, a decline from 9.6% in the
prior-year period.

General and administrative expenses for the six months ended June 30,
2016 were $59.4 million, a decrease of $1.5 million, or 2.5%, from $60.9
million in the prior-year period. Included in the six months 2016
results were a total of $1.0 million in loan system conversion costs,
while the six months 2015 results included $2.7 million in non-operating
expenses. Branch expenses include changes in staffing and incentive
plans for all branches as well as the expenses associated with 38 net
branches added since December 31, 2014.

GAAP net income for the six months ended June 30, 2016 was $11.1
million, a 16.8% increase compared to GAAP net income of $9.5 million in
the prior-year period, and diluted earnings per share for the six months
ended June 30, 2016 were $0.89 compared to $0.73 in the prior-year
period. Excluding the aforementioned non-operating expenses, non-GAAP
net income for the six months ended June 30, 2016 totaled $11.7 million
and non-GAAP diluted earnings per share were $0.94, compared to non-GAAP
net income of $11.2 million and non-GAAP diluted earnings per share of
$0.86 in the prior-year period.

2016 De Novo Outlook

As of June 30, 2016, the Company’s branch network consisted of 338
locations. The Company closed one branch in the second quarter of 2016.
For the full year 2016, due to its focus on implementing its new loan
system, the Company is now projecting to open approximately 15 de novo
branches.

Liquidity and Capital Resources

As of June 30, 2016, the Company had finance receivables of $645.7
million and outstanding long-term debt of $441.1 million (consisting of
$386.6 million of long-term debt on its $538.0 million senior revolving
credit facility and $54.6 million of long-term debt on its $75.7 million
amortizing loan).

Conference Call Information

Regional Management Corp. will host a conference call and webcast today
at 5:00 PM ET to discuss these results.

The dial-in number for the conference call is (855) 590-2959 (toll-free)
or (503) 343-6651 (direct), passcode 47978795. Please dial the number 10
minutes prior to the scheduled start time.

*** A supplemental slide presentation will be made available on
Regional Management’s website prior to the earnings call at
www.RegionalManagement.com.
***

In addition, a live webcast of the conference call will also be
available on Regional Management’s website at www.RegionalManagement.com.

A replay will be available following the end of the call through
Tuesday, August 2, 2016, by telephone at (855) 859-2056 (toll-free) or
(404) 537-3406 (direct), passcode 47978795. A webcast replay of the call
will be available at www.RegionalManagement.com
for one year following the call.

Forward-Looking Statements

This press release may contain various “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995, which represent Regional Management Corp.’s expectations or
beliefs concerning future events. Words such as “may,” “will,” “should,”
“likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,”
“believes,” “estimates,” “outlook” and similar expressions may be used
to identify these forward-looking statements. Such forward-looking
statements are about matters that are inherently subject to risks and
uncertainties, many of which are outside of the control of Regional
Management. Factors that could cause actual results or performance to
differ from the expectations expressed or implied in such
forward-looking statements include, but are not limited to, the
following: the continuation or worsening of adverse conditions in the
global and domestic credit markets and uncertainties regarding, or the
impact of, governmental responses to those conditions; changes in
interest rates; risks related to acquisitions; risks related to opening
new branches, including the ability or inability to open new branches as
planned; risks inherent in making loans, including repayment risks and
value of collateral, which risks may increase in light of adverse or
recessionary economic conditions; recently-enacted or proposed
legislation; the timing and amount of revenues that may be recognized by
Regional Management; changes in current revenue and expense trends
(including trends affecting delinquencies and charge-offs); changes in
Regional Management’s markets and general changes in the economy
(particularly in the markets served by Regional Management); changes in
operating and administrative expenses; and the departure, transition or
replacement of key personnel. Such factors and others are discussed in
greater detail in Regional Management’s filings with the Securities and
Exchange Commission. Regional Management will not update the information
contained in this press release beyond the publication date, except to
the extent required by law, and is not responsible for changes made to
this document by wire services or Internet services.

About Regional Management Corp.

Regional Management Corp. (NYSE: RM) is a diversified consumer finance
company providing a broad array of loan products primarily to customers
with limited access to consumer credit from banks, thrifts, credit card
companies and other traditional lenders. Regional Management began
operations in 1987 with four branches in South Carolina and has since
expanded its branch network across South Carolina, Texas, North
Carolina, Tennessee, Alabama, Oklahoma, New Mexico, Georgia and
Virginia. Each of its loan products is structured on a fixed rate, fixed
term basis with fully amortizing equal monthly installment payments and
is repayable at any time without penalty. Regional Management’s loans
are sourced through its multiple channel platform, including in its
branches, through direct mail campaigns, independent and franchise
automobile dealerships, online credit application networks, retailers
and its consumer website. For more information, please visit www.RegionalManagement.com.

Regional Management Corp. and Subsidiaries

Consolidated Statements of Income

(Unaudited)

(in thousands, except per share amounts)

           
Better (Worse) Better (Worse)
2Q’16 2Q’15 $   % YTD’16 YTD’15 $   %
Revenue
Interest and fee income $ 52,589 $ 47,668 $ 4,921 10.3 % $ 103,889 $ 94,733 $ 9,156 9.7 %
Insurance income, net 2,601 3,120 (519 ) (16.6

)%

5,540 6,049 (509 ) (8.4

)%

Other income   2,135     2,213     (78 ) (3.5

)%

  4,593     4,743     (150 ) (3.2

)%

Total revenue   57,325     53,001     4,324   8.2 %   114,022     105,525     8,497   8.1 %
 
Expenses
Provision for credit losses 13,386 12,102 (1,284 ) (10.6

)%

27,177 21,814 (5,363 ) (24.6

)%

 
Personnel 16,674 16,211 (463 ) (2.9

)%

33,801 35,971 2,170 6.0 %
Occupancy 4,770 4,227 (543 ) (12.8

)%

9,633 8,333 (1,300 ) (15.6

)%

Marketing 2,062 2,009 (53 ) (2.6

)%

3,577 4,480 903 20.2 %
Other   6,042     5,796     (246 ) (4.2

)%

  12,342     12,082     (260 ) (2.2

)%

Total general and administrative 29,548 28,243 (1,305 ) (4.6

)%

59,353 60,866 1,513 2.5 %
 
Interest expense   4,811     3,932     (879 ) (22.4

)%

  9,521     7,536     (1,985 ) (26.3

)%

 
Income before income taxes 9,580 8,724 856 9.8 % 17,971 15,309 2,662 17.4 %
Income taxes   3,668     3,316     (352 ) (10.6

)%

  6,883     5,818     (1,065 ) (18.3

)%

Net income $ 5,912   $ 5,408   $ 504   9.3 % $ 11,088   $ 9,491   $ 1,597   16.8 %
 
Net income per common share:
Basic $ 0.50   $ 0.42   $ 0.08   19.0 % $ 0.90   $ 0.74   $ 0.16   21.6 %
Diluted $ 0.49   $ 0.41   $ 0.08   19.5 % $ 0.89   $ 0.73   $ 0.16   21.9 %
Weighted-average shares outstanding:
Basic   11,756     12,845     1,089   8.5 %   12,256     12,812     556   4.3 %
Diluted   11,974     13,078     1,104   8.4 %   12,462     13,040     578   4.4 %
 
Return on average assets (annualized)   3.8 %   4.0 %   3.6 %   3.6 %
Return on average equity (annualized)   12.0 %   11.5 %   11.1 %   10.3 %

Regional Management Corp. and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

(in thousands, except par value amounts)

     
Increase (Decrease)
2Q’16 2Q’15 $   %
Assets
Cash $ 2,827 $ 4,793 $ (1,966 ) (41.0

)%

Gross finance receivables 820,688 704,862 115,826 16.4 %
Unearned finance charges, insurance premiums, and commissions   (174,944 )   (132,337 )   (42,607 ) (32.2

)%

Finance receivables 645,744 572,525 73,219 12.8 %
Allowance for credit losses   (36,200 )   (36,171 )   (29 ) (0.1

)%

Net finance receivables 609,544 536,354 73,190 13.6 %
Property and equipment, net of accumulated depreciation 9,073 7,820 1,253 16.0 %
Restricted cash 8,237 1,901 6,336 333.3 %
Intangible assets, net 4,021 1,507 2,514 166.8 %
Goodwill 716 716 0.0 %
Repossessed assets at net realizable value 488 407 81 19.9 %
Deferred tax asset, net 2,305 (2,305 ) (100.0

)%

Other assets   7,897     4,548     3,349   73.6 %
Total assets $ 642,803   $ 560,351   $ 82,452   14.7 %
 
Liabilities and Stockholders’ Equity
Liabilities:
Long-term debt $ 441,147 $ 359,491 $ 81,656 22.7 %
Unamortized debt issuance costs   (2,285 )   (630 )   (1,655 ) (262.7

)%

Net long-term debt 438,862 358,861 80,001 22.3 %
Accounts payable and accrued expenses 10,571 10,733 (162 ) (1.5

)%

Deferred tax liability, net   446         446   100.0 %
Total liabilities 449,879 369,594 80,285 21.7 %
Commitments and Contingencies
Stockholders’ equity:

Preferred stock, $0.10 par value, 100,000 shares authorized, no
shares
issued or outstanding

Common stock, $0.10 par value, 1,000,000 shares authorized, 12,961
shares
issued and 11,415 shares outstanding at June 30, 2016 and
12,889
shares issued and outstanding at June 30, 2015

1,296 1,289 7 0.5 %
Additional paid-in-capital 90,828 88,584 2,244 2.5 %
Retained earnings 125,846 100,884 24,962 24.7 %
Treasury stock, at cost, 1,546 shares at June 30, 2016   (25,046 )       (25,046 ) (100.0

)%

Total stockholders’ equity   192,924     190,757     2,167   1.1 %
Total liabilities and stockholders’ equity $ 642,803   $ 560,351   $ 82,452   14.7 %

Regional Management Corp. and Subsidiaries

Selected Financial Data

(Unaudited)

(in thousands, except per share amounts)

 
Averages and Yields
2Q’16   1Q’16   2Q’15
Average Finance
Receivables
 

Average Yield
(Annualized)

Average Finance
Receivables
 

Average Yield
(Annualized)

Average Finance
Receivables
 

Average Yield
(Annualized)

Branch small loans $ 154,843 44.5 % $ 153,516 43.1 % $ 130,806 45.3 %
Convenience checks 158,545 41.5 % 172,133 40.8 % 171,323 45.0 %
Large loans 178,683 28.8 % 152,938 28.2 % 79,756 27.7 %
Automobile loans 103,626 17.9 % 111,008 18.2 % 143,659 19.3 %
Retail loans   29,007 19.1 %   27,923 19.2 %   24,556 18.8 %
Total interest and fee yield $ 624,704 33.7 % $ 617,518 33.2 % $ 550,100 34.7 %
Total revenue yield $ 624,704 36.7 % $ 617,518 36.7 % $ 550,100 38.5 %
 

Components of Increase in Interest and Fee Income
2Q’16
Compared to 2Q’15

Increase (Decrease)

Volume   Rate   Net
Branch small loans $ 2,677 $ (258 ) $ 2,419
Convenience checks (1,382 ) (1,409 ) (2,791 )
Large loans 7,119 238 7,357
Automobile loans (1,823 ) (472 ) (2,295 )
Retail loans   213     18     231  
Total increase (decrease) in interest and fee income $ 6,804   $ (1,883 ) $ 4,921  
  Net Loans Originated (1)
2Q’16   1Q’16  

QoQ $
Inc (Dec)

 

QoQ %
Inc (Dec)

  2Q’15  

YoY $
Inc (Dec)

 

YoY %
Inc (Dec)

Branch small loans $ 83,276 $ 58,399 $ 24,877 42.6 % $ 80,818 $ 2,458 3.0 %
Convenience checks 69,773 55,978 13,795 24.6 % 90,745 (20,972 ) (23.1

)%

Large loans 72,174 48,569 23,605 48.6 % 46,134 26,040 56.4 %
Automobile loans 9,355 8,485 870 10.3 % 11,802 (2,447 ) (20.7

)%

Retail loans   8,627   8,701   (74 ) (0.9

)%

  8,136   491   6.0 %
Total net loans originated $ 243,205 $ 180,132 $ 63,073   35.0 % $ 237,635 $ 5,570   2.3 %
(1)   Represents the balance of loan origination and refinancing net of
unearned finance charges
  Other Key Metrics
2Q’16     1Q’16     2Q’15
Net charge-offs $ 13,416 $ 15,013 $ 12,881
Percentage of average finance receivables (annualized) 8.6% 9.7% 9.4%
 
Provision for credit losses $ 13,386 $ 13,791 $ 12,102
Percentage of average finance receivables (annualized) 8.6% 8.9% 8.8%
Percentage of total revenue 23.4% 24.3% 22.8%
 
General and administrative expenses $ 29,548 $ 29,805 $ 28,243
Percentage of average finance receivables (annualized) 18.9% 19.3% 20.5%
Percentage of total revenue 51.5% 52.6% 53.3%
 
Same store results:
Finance receivables at period-end $ 611,589 $ 552,313 $ 545,928
Finance receivable growth rate 9.5% 7.3% 8.0%
Number of branches in calculation 306 300 281
  Finance Receivables by Product
2Q’16   1Q’16  

QoQ $
Inc (Dec)

 

QoQ %
Inc (Dec)

  2Q’15  

YoY $
Inc (Dec)

 

YoY %
Inc (Dec)

Branch small loans $ 162,562 $ 148,700 $ 13,862 9.3 % $ 140,161 $ 22,401 16.0 %
Convenience checks 157,515 161,802 (4,287 ) (2.6

)%

174,786 (17,271 ) (9.9

)%

Large loans   194,857   162,301   32,556   20.1 %   93,203   101,654   109.1 %
Total core loans 514,934 472,803 42,131 8.9 % 408,150 106,784 26.2 %
Automobile loans 100,721 106,297 (5,576 ) (5.2

)%

139,593 (38,872 ) (27.8

)%

Retail loans   30,089   28,263   1,826   6.5 %   24,782   5,307   21.4 %
Total finance receivables $ 645,744 $ 607,363 $ 38,381   6.3 % $ 572,525 $ 73,219   12.8 %
 
Number of branches at period end 338 339 (1 ) (0.3

)%

316 22 7.0 %
Average finance receivables per branch $ 1,910 $ 1,792 $ 118   6.6 % $ 1,812 $ 98   5.4 %
  Contractual Delinquency by Aging
2Q’16   1Q’16   2Q’15
Allowance for credit losses $ 36,200   5.6 % $ 36,230   6.0 % $ 36,171   6.3 %
 
Current 527,080 81.7 % 505,801 83.3 % 454,424 79.4 %
1 to 29 days past due   74,439 11.5 %   63,686 10.5 %   81,275 14.2 %
Delinquent accounts:
30 to 59 days 16,710 2.5 % 11,986 1.9 % 14,665 2.5 %
60 to 89 days 10,045 1.6 % 7,640 1.3 % 8,113 1.4 %
90 to 119 days 7,237 1.1 % 7,099 1.1 % 5,633 1.0 %
120 to 149 days 5,358 0.8 % 5,914 1.0 % 4,597 0.8 %
150 to 179 days   4,875 0.8 %   5,237 0.9 %   3,818 0.7 %
Total contractual delinquency $ 44,225 6.8 % $ 37,876 6.2 % $ 36,826 6.4 %
Total finance receivables $ 645,744 100.0 % $ 607,363 100.0 % $ 572,525 100.0 %
 
1 day and over past due $ 118,664 18.3 % $ 101,562 16.7 % $ 118,101 20.6 %
 
Contractual Delinquency by Product
2Q’16 1Q’16 2Q’15
Branch small loans $ 14,096 8.7 % $ 12,627 8.5 % $ 10,804 7.7 %
Convenience checks 12,340 7.8 % 12,351 7.6 % 13,561 7.8 %
Large loans 8,459 4.3 % 5,561 3.4 % 2,748 2.9 %
Automobile loans 7,768 7.7 % 6,120 5.8 % 8,619 6.2 %
Retail loans   1,562 5.2 %   1,217 4.3 %   1,094 4.4 %
Total contractual delinquency $ 44,225 6.8 % $ 37,876 6.2 % $ 36,826 6.4 %
  Quarterly Trend
2Q’15   3Q’15   4Q’15   1Q’16   2Q’16  

QoQ $
B(W)

 

YoY $
B(W)

Revenue
Interest and fee income $ 47,668 $ 49,741 $ 51,320 $ 51,300 $ 52,589 $ 1,289 $ 4,921
Insurance income, net 3,120 2,767 2,838 2,939 2,601 (338 ) (519 )
Other income   2,213   2,588   2,527   2,458   2,135   (323 )   (78 )
Total revenue   53,001   55,096   56,685   56,697   57,325   628     4,324  
 
Expenses
Provision for credit losses 12,102 14,085 11,449 13,791 13,386 405 (1,284 )
 
Personnel 16,211 15,993 17,283 17,127 16,674 453 (463 )
Occupancy 4,227 4,458 4,522 4,863 4,770 93 (543 )
Marketing 2,009 1,134 1,403 1,515 2,062 (547 ) (53 )
Other   5,796   4,597   5,342   6,300   6,042   258     (246 )
Total general and administrative 28,243 26,182 28,550 29,805 29,548 257 (1,305 )
 
Interest expense   3,932   4,335   4,350   4,710   4,811   (101 )   (879 )
Income before income taxes 8,724 10,494 12,336 8,391 9,580 1,189 856
Income taxes   3,316   3,987   4,969   3,215   3,668   (453 )   (352 )
Net income $ 5,408 $ 6,507 $ 7,367 $ 5,176 $ 5,912 $ 736   $ 504  
Net income per common share:
Basic $ 0.42 $ 0.51 $ 0.57 $ 0.41 $ 0.50 $ 0.09   $ 0.08  
Diluted $ 0.41 $ 0.50 $ 0.56 $ 0.40 $ 0.49 $ 0.09   $ 0.08  
Weighted-average shares outstanding:
Basic   12,845   12,881   12,891   12,756   11,756   1,000     1,089  
Diluted   13,078   13,111   13,105   12,949   11,974   975     1,104  
 
Net interest margin $ 49,069 $ 50,761 $ 52,335 $ 51,987 $ 52,514 $ 527   $ 3,445  
 
Net credit margin $ 36,188 $ 38,291 $ 40,552 $ 36,974 $ 39,098 $ 2,124   $ 2,910  
 
2Q’15 3Q’15 4Q’15 1Q’16 2Q’16

QoQ $
Inc (Dec)

YoY $
Inc (Dec)

Total assets $ 560,351 $ 587,508 $ 626,373 $ 609,707 $ 642,803 $ 33,096   $ 82,452  
Finance receivables $ 572,525 $ 601,608 $ 628,444 $ 607,363 $ 645,744 $ 38,381   $ 73,219  
Allowance for credit losses $ 36,171 $ 37,786 $ 37,452 $ 36,230 $ 36,200 $ (30 ) $ 29  
Long-term debt $ 359,491 $ 379,617 $ 411,177 $ 396,543 $ 441,147 $ 44,604   $ 81,656  

Contacts

Regional Management Corp.
Investor Relations
Garrett Edson,
203-682-8331

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