This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Regional Management Corp. Announces Second Quarter 2012 Results

Stocks in this article: RM

Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, today announced results for the second quarter and six-month period ended June 30, 2012.

Second Quarter 2012 Highlights and Subsequent Events

  • Total second quarter 2012 revenue was $32.0 million, a 31.4% increase from the prior-year period.
  • Net income for the second quarter of 2012 was $6.6 million, a 40.3% increase from the prior-year period, and diluted earnings per share was $0.52 based on a diluted share count of 12.7 million.
  • Finance receivables as of June 30, 2012 were $345.4 million, an increase of 33.3% from the prior-year period. Net charge-offs as a percentage of average finance receivables for the second quarter of 2012 were 6.1%, an increase from 5.6% in the prior-year period.
  • Same-store revenue growth 1 for the second quarter of 2012 was 17.3%.
  • Opened 12 new branches in the second quarter of 2012, including the first branch in New Mexico in May 2012. As of June 30, 2012, Regional Management’s branch network consisted of 206 locations.
  • On July 31, 2012, Regional Management received an increase in the availability of the company’s senior revolving credit facility to $325 million from its previous amount of $255 million, with a maturity date of July 2015.

“We performed solidly in the second quarter, led by double-digit growth in net finance receivables, revenue, same-store sales and net income,” said Thomas Fortin, Chief Executive Officer of Regional Management Corp. “In addition, we recorded an efficiency ratio of 41.4% in the second quarter, a decline of 30 basis points from the prior-year period and continuing our overall trend of reducing G&A expenses as a percentage of total revenue on a year-over-year basis, despite the increase in costs of being a public company. We also continued our westward expansion in the quarter with the opening of our first branch in New Mexico, and were pleased to open 12 de novo branches in the quarter, bringing our total for the year to 17 as of June 30. Finally, we are very pleased to receive a substantial increase in the availability of our senior revolving credit facility, which is a testament to our fiscal responsibility and strength as we continue to expand Regional Management. We intend to utilize any additional monies from the facility to fund our product, channel and de novo branch growth strategies, as well as any value-added acquisition opportunities.”

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs