8-K
filed February 8, 2023, 6:59 PM ET
ticker RM
CIK 0001519401
earnings
confidence high
sentiment neutral
materiality 0.75
Regional Management Q4 adj EPS $0.54; declares $0.30 dividend; portfolio grows 19% YoY
Regional Management Corp.
2022-FY EPS reported
$5.30
revenue$507,187,000
- GAAP net income $2.4M ($0.25 EPS); adjusted net income $5.0M ($0.54 EPS). Revenue $132.0M, +10.5% YoY.
- Net finance receivables $1.70B, +19.2% YoY; large loans 71.1% of total portfolio.
- 30+ day contractual delinquencies 7.1% as of Dec 31, 2022, down 10bps from Sep 30 but up 10bps from Dec 2019.
- Provision for credit losses $60.8M, +96% YoY; included $11.8M reserve reduction from NPL sale and $9.1M for portfolio growth.
- Board declared $0.30 per share quarterly dividend, payable March 15, 2023 to holders of record Feb 22, 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Regional Management Corp. reported financial results for the twelve months ended December 31, 2022.
- Period
- the twelve months ended December 31, 2022
- Result
- reported results
Exact text from the filing
On February 8, 2023, the Company issued a press release announcing financial results for the three and twelve months ended December 31, 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Regional Management Corp. reported the fourth quarter ended December 31, 2022 results: revenue $132.0 million, net income $2.4 million, EPS $0.25.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $132.0 million
- Net income
- $2.4 million
- EPS
- $0.25
- Result
- reported results
Exact text from the filing
were $470.3 million in the fourth quarter of 2022, an increase of $36.0 million, or 8.3%, from the prior-year period. • Total revenue for the fourth quarter of 2022 was $132.0 million, an increase of $12.5 million, or 10.5%, from the prior-year period. - Interest and fee income increased $10.3 million, or 9.6%, primarily due to higher average net finance
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Regional Management Corp. entered into RMR VI Credit Agreement with Regions Bank valued at $75 million revolving warehouse facility (effective 2023-02-02).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Regions Bank
- Value
- $75 million revolving warehouse facility
- Effective
- 2023-02-02
Exact text from the filing
On February 2, 2023 (the “ Closing Date ”), Regional Management Corp. (the “ Company ”) and its wholly-owned subsidiary, Regional Management Receivables VI, LLC (“ RMR VI ”), entered into a Credit Agreement, dated as of February 2, 2023 (the “ RMR VI Credit Agreement ”), by and among the Company, as servicer (the “ Servicer ”), RMR VI, as borrower (the “ Borrower ”), the lenders and agents from time to time parties thereto, Regions Bank, as administrative agent (the “ Administrative Agent ”), and Computershare Trust Company, N.A., as securities intermediary (the “ Securities Intermediary ”) and backup servicer (the “ Backup Servicer ”).
View on SEC.gov
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