RM 8-K

Regional Management Corp. (RM)

8-K 2025-11-05 For: 2025-10-30

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Added on April 12, 2026

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Delaware	001-35477	57-0847115
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, $0.10 par value	RM	New York Stock Exchange


Exhibit No.		Description
10.1		Offer Letter, dated October 30, 2025, between Lakhbir S. Lamba and Regional Management Corp.
10.2		Letter Agreement, dated October 30, 2025, between Robert W. Beck and Regional Management Corp.
10.3		Regional Management Corp. Executive Severance and Change in Control Plan (as Amended and Restated effective October 30, 2025).
99.1		Press Release issued by Regional Management Corp. on November 5, 2025, announcing financial results for Regional Management Corp. for the three and nine months ended September 30, 2025.
99.2		Presentation of Regional Management Corp., dated November 5, 2025.
99.3		Press Release issued by Regional Management Corp. on November 5, 2025, announcing President and Chief Executive Officer transition.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


	Regional Management Corp.

Date: November 5, 2025	By:	/s/ Harpreet Rana
	Name:	Harpreet Rana
	Title:	Executive Vice President and Chief Financial and Administrative Officer





Signature:	/s/ Lakhbir S. Lamba	Date:	11/3/2025
	Name: Lakhbir S. Lamba

RM 8-K

FORM 8-K

[Signature Page to Follow]

If the terms of this Letter Agreement are acceptable, please sign the letter below and return it to me at your earliest opportunity.

(a) Confidentiality.

If the provisions of Code Section 280G and Section 4999 or any successor provisions are repealed without succession, this Section 7 will be of no further force or effect.


							Better (Worse)												Better (Worse)
	3Q 25			3Q 24			$			%			YTD 25			YTD 24			$			%
Revenue
Interest and fee income	$	148,672		$	133,932		$	14,740			11.0	%	$	425,920		$	390,648		$	35,272			9.0	%
Insurance income, net		11,391			7,422			3,969			53.5	%		34,187			28,903			5,284			18.3	%
Other income		5,424			4,984			440			8.8	%		15,789			14,120			1,669			11.8	%
Total revenue		165,487			146,338			19,149			13.1	%		475,896			433,671			42,225			9.7	%

Expenses
Provision for credit losses		60,474			54,349			(6,125	)		(11.3	)%		179,053			154,574			(24,479	)		(15.8	)%

Personnel		39,517			38,323			(1,194	)		(3.1	)%		119,243			113,240			(6,003	)		(5.3	)%
Occupancy		7,160			6,551			(609	)		(9.3	)%		20,977			19,075			(1,902	)		(10.0	)%
Marketing		4,212			5,078			866			17.1	%		14,677			14,229			(448	)		(3.1	)%
Other		13,179			12,516			(663	)		(5.3	)%		38,159			36,508			(1,651	)		(4.5	)%
Total general and administrative		64,068			62,468			(1,600	)		(2.6	)%		193,056			183,052			(10,004	)		(5.5	)%

Interest expense		21,971			19,356			(2,615	)		(13.5	)%		62,168			54,725			(7,443	)		(13.6	)%
Income before income taxes		18,974			10,165			8,809			86.7	%		41,619			41,320			299			0.7	%
Income taxes		4,618			2,502			(2,116	)		(84.6	)%		10,116			10,007			(109	)		(1.1	)%
Net income	$	14,356		$	7,663		$	6,693			87.3	%	$	31,503		$	31,313		$	190			0.6	%
Net income per common share:
Basic	$	1.53		$	0.79		$	0.74			93.7	%	$	3.32		$	3.25		$	0.07			2.2	%
Diluted	$	1.42		$	0.76		$	0.66			86.8	%	$	3.15		$	3.16		$	(0.01	)		(0.3	)%
Weighted-average common shares outstanding:
Basic		9,370			9,683			313			3.2	%		9,493			9,622			129			1.3	%
Diluted		10,133			10,090			(43	)		(0.4	)%		10,000			9,900			(100	)		(1.0	)%
Return on average assets (annualized)		2.9	%		1.7	%								2.2	%		2.3	%
Return on average equity (annualized)		15.6	%		8.7	%								11.7	%		12.3	%


							Increase (Decrease)
	3Q 25			3Q 24			$			%
Assets
Cash	$	4,084		$	4,745		$	(661	)		(13.9	)%
Net finance receivables		2,053,017			1,819,756			233,261			12.8	%
Unearned insurance premiums		(50,987	)		(46,508	)		(4,479	)		(9.6	)%
Allowance for credit losses		(212,000	)		(192,100	)		(19,900	)		(10.4	)%
Net finance receivables, less unearned insurance premiums and allowance for credit losses		1,790,030			1,581,148			208,882			13.2	%
Restricted cash		104,459			115,576			(11,117	)		(9.6	)%
Lease assets		40,782			37,229			3,553			9.5	%
Intangible assets		30,385			22,250			8,135			36.6	%
Restricted available-for-sale investments		22,344			21,727			617			2.8	%
Property and equipment		12,996			13,425			(429	)		(3.2	)%
Deferred tax assets, net		587			11,833			(11,246	)		(95.0	)%
Other assets		22,599			13,898			8,701			62.6	%
Total assets	$	2,028,266		$	1,821,831		$	206,435			11.3	%
Liabilities and Stockholders’ Equity
Liabilities:
Debt	$	1,581,992		$	1,395,892		$	186,100			13.3	%
Unamortized debt issuance costs		(7,521	)		(4,645	)		(2,876	)		(61.9	)%
Net debt		1,574,471			1,391,247			183,224			13.2	%
Lease liabilities		42,906			39,350			3,556			9.0	%
Other liabilities		38,971			38,306			665			1.7	%
Total liabilities		1,656,348			1,468,903			187,445			12.8	%
Stockholders’ equity:
Preferred stock ($0.10 par value, 100,000 shares authorized, none issued or outstanding)		—			—			—			—
Common stock ($0.10 par value, 1,000,000 shares authorized, 15,220 shares issued and 9,803 shares outstanding at September 30, 2025 and 14,971 shares issued and 10,164 shares outstanding at September 30, 2024)		1,522			1,497			25			1.7	%
Additional paid-in capital		139,868			129,936			9,932			7.6	%
Retained earnings		400,844			371,725			29,119			7.8	%
Accumulated other comprehensive loss		(10	)		(87	)		77			88.5	%
Treasury stock (5,417 shares at September 30, 2025 and 4,807 shares at September 30, 2024)		(170,306	)		(150,143	)		(20,163	)		(13.4	)%
Total stockholders’ equity		371,918			352,928			18,990			5.4	%
Total liabilities and stockholders’ equity	$	2,028,266		$	1,821,831		$	206,435			11.3	%


	Net Finance Receivables
	3Q 25		2Q 25		QoQ $ Inc (Dec)			QoQ % Inc (Dec)			3Q 24		YoY $ Inc (Dec)		YoY % Inc (Dec)
Large loans	$	1,512,140	$	1,413,367	$	98,773			7.0	%	$	1,293,410	$	218,730		16.9	%
Small loans		540,877		546,997		(6,120	)		(1.1	)%		526,346		14,531		2.8	%
Total	$	2,053,017	$	1,960,364	$	92,653			4.7	%	$	1,819,756	$	233,261		12.8	%
Number of branches		349		352		(3	)		(0.9	)%		340		9		2.6	%
Net finance receivables per branch	$	5,883	$	5,569	$	314			5.6	%	$	5,352	$	531		9.9	%


	Average Net Finance Receivables
	3Q 25		2Q 25		QoQ $ Inc (Dec)		QoQ % Inc (Dec)			3Q 24		YoY $ Inc (Dec)		YoY % Inc (Dec)
Large loans	$	1,460,187	$	1,372,783	$	87,404		6.4	%	$	1,279,720	$	180,467		14.1	%
Small loans		541,201		540,106		1,095		0.2	%		513,089		28,112		5.5	%
Total	$	2,001,388	$	1,912,889	$	88,499		4.6	%	$	1,792,809	$	208,579		11.6	%


	Revenue Yields (1)
	3Q 25			2Q 25			QoQ Inc (Dec)			3Q 24			YoY Inc (Dec)
Large loans		27.1	%		26.6	%		0.5	%		26.7	%		0.4	%
Small loans		36.7	%		36.5	%		0.2	%		37.8	%		(1.1	)%
Total interest and fee yield		29.7	%		29.4	%		0.3	%		29.9	%		(0.2	)%
Total revenue yield		33.1	%		32.9	%		0.2	%		32.6	%		0.5	%


	Components of Increase in Interest and Fee Income
	3Q 25 Compared to 3Q 24
	Increase (Decrease)
	Volume		Rate			Volume & Rate			Total
Large loans	$	12,056	$	1,242		$	176		$	13,474
Small loans		2,654		(1,316	)		(72	)		1,266
Product mix		872		(680	)		(192	)		—
Total	$	15,582	$	(754	)	$	(88	)	$	14,740


	Loans Originated (1)
	3Q 25		2Q 25		QoQ $ Inc (Dec)			QoQ % Inc (Dec)			3Q 24		YoY $ Inc (Dec)			YoY % Inc (Dec)
Large loans	$	363,055	$	336,473	$	26,582			7.9	%	$	251,563	$	111,492			44.3	%
Small loans		159,210		173,856		(14,646	)		(8.4	)%		174,632		(15,422	)		(8.8	)%
Total	$	522,265	$	510,329	$	11,936			2.3	%	$	426,195	$	96,070			22.5	%


	Other Key Metrics
	3Q 25			2Q 25			3Q 24
Net credit losses	$	51,274		$	56,887		$	47,649
Percentage of average net finance receivables (annualized)		10.2	%		11.9	%		10.6	%
Provision for credit losses	$	60,474		$	60,587		$	54,349
Percentage of average net finance receivables (annualized)		12.1	%		12.7	%		12.1	%
Percentage of total revenue		36.5	%		38.5	%		37.1	%
General and administrative expenses	$	64,068		$	62,945		$	62,468
Percentage of average net finance receivables (annualized)		12.8	%		13.2	%		13.9	%
Percentage of total revenue		38.7	%		40.0	%		42.7	%
Same store results (1):
Net finance receivables at period-end	$	2,000,665		$	1,915,667		$	1,815,187
Net finance receivable growth rate		9.9	%		8.1	%		3.7	%
Number of branches in calculation		333			335			337


	Contractual Delinquency
	3Q 25				2Q 25				3Q 24
Allowance for credit losses	$	212,000	10.3	%	$	202,800	10.3	%	$	192,100	10.6	%
Current		1,740,356	84.8	%		1,672,027	85.3	%		1,529,171	84.1	%
1 to 29 days past due		168,380	8.2	%		158,951	8.1	%		164,568	9.0	%
Delinquent accounts:
30 to 59 days		40,100	1.9	%		35,362	1.8	%		35,300	1.9	%
60 to 89 days		31,914	1.6	%		28,949	1.5	%		27,704	1.5	%
90 to 119 days		26,304	1.2	%		22,348	1.1	%		23,964	1.4	%
120 to 149 days		23,722	1.2	%		21,625	1.1	%		22,544	1.2	%
150 to 179 days		22,241	1.1	%		21,102	1.1	%		16,505	0.9	%
Total delinquency	$	144,281	7.0	%	$	129,386	6.6	%	$	126,017	6.9	%
Total net finance receivables	$	2,053,017	100.0	%	$	1,960,364	100.0	%	$	1,819,756	100.0	%
1 day and over past due	$	312,661	15.2	%	$	288,337	14.7	%	$	290,585	15.9	%


	Contractual Delinquency by Product
	3Q 25				2Q 25				3Q 24
Large loans	$	85,865	5.7	%	$	76,690	5.4	%	$	76,435	5.9	%
Small loans		58,416	10.8	%		52,696	9.6	%		49,582	9.4	%
Total	$	144,281	7.0	%	$	129,386	6.6	%	$	126,017	6.9	%


	3Q 25
Debt	$	1,581,992
Total stockholders' equity		371,918
Less: Intangible assets		30,385
Tangible equity (non-GAAP)	$	341,533
Funded debt-to-equity ratio		4.3	x
Funded debt-to-tangible equity ratio (non-GAAP)		4.6	x


	Income Statement Quarterly Trend
	3Q 24			4Q 24			1Q 25			2Q 25			3Q 25			QoQ $ B(W)			YoY $ B(W)
Revenue
Interest and fee income	$	133,932		$	138,246		$	136,553		$	140,695		$	148,672		$	7,977		$	14,740
Insurance income, net		7,422			11,792			11,297			11,499			11,391			(108	)		3,969
Other income		4,984			4,794			5,117			5,248			5,424			176			440
Total revenue		146,338			154,832			152,967			157,442			165,487			8,045			19,149
Expenses
Provision for credit losses		54,349			57,626			57,992			60,587			60,474			113			(6,125	)
Personnel		38,323			40,549			41,142			38,584			39,517			(933	)		(1,194	)
Occupancy		6,551			6,748			6,906			6,911			7,160			(249	)		(609	)
Marketing		5,078			4,777			5,406			5,059			4,212			847			866
Other		12,516			12,572			12,589			12,391			13,179			(788	)		(663	)
Total general and administrative		62,468			64,646			66,043			62,945			64,068			(1,123	)		(1,600	)
Interest expense		19,356			19,805			19,771			20,426			21,971			(1,545	)		(2,615	)
Income before income taxes		10,165			12,755			9,161			13,484			18,974			5,490			8,809
Income taxes		2,502			2,841			2,154			3,344			4,618			(1,274	)		(2,116	)
Net income	$	7,663		$	9,914		$	7,007		$	10,140		$	14,356		$	4,216		$	6,693
Net income per common share:
Basic	$	0.79		$	1.02		$	0.73		$	1.07		$	1.53		$	0.46		$	0.74
Diluted	$	0.76		$	0.98		$	0.70		$	1.03		$	1.42		$	0.39		$	0.66
Weighted-average shares outstanding:
Basic		9,683			9,691			9,610			9,504			9,370			134			313
Diluted		10,090			10,128			10,025			9,843			10,133			(290	)		(43	)

	Balance Sheet & Other Key Metrics Quarterly Trends
	3Q 24			4Q 24			1Q 25			2Q 25			3Q 25			QoQ $ Inc (Dec)			YoY $ Inc (Dec)
Total assets	$	1,821,831		$	1,909,109		$	1,900,683		$	1,967,131		$	2,028,266		$	61,135		$	206,435
Net finance receivables	$	1,819,756		$	1,892,535		$	1,890,351		$	1,960,364		$	2,053,017		$	92,653		$	233,261
Allowance for credit losses	$	192,100		$	199,500		$	199,100		$	202,800		$	212,000		$	9,200		$	19,900
Debt	$	1,395,892		$	1,478,336		$	1,477,860		$	1,509,133		$	1,581,992		$	72,859		$	186,100
Interest and fee yield (annualized)		29.9	%		29.8	%		28.9	%		29.4	%		29.7	%		0.3	%		(0.2	)%
Efficiency ratio (1)		42.7	%		41.8	%		43.2	%		40.0	%		38.7	%		(1.3	)%		(4.0	)%
Operating expense ratio (2)		13.9	%		14.0	%		14.0	%		13.2	%		12.8	%		(0.4	)%		(1.1	)%
Delinquency rate (3)		6.9	%		7.7	%		7.1	%		6.6	%		7.0	%		0.4	%		0.1	%
Net credit loss rate (4)		10.6	%		10.8	%		12.4	%		11.9	%		10.2	%		(1.7	)%		(0.4	)%
Book value per share	$	34.72		$	35.67		$	35.48		$	36.43		$	37.94		$	1.51		$	3.22


	Components of Increase in Interest and Fee Income
	YTD 25 Compared to YTD 24
	Increase (Decrease)
	Volume		Rate			Volume & Rate			Total
Large loans	$	24,664	$	3,140		$	310		$	28,114
Small loans		12,083		(4,537	)		(388	)		7,158
Product mix		397		(313	)		(84	)		—
Total	$	37,144	$	(1,710	)	$	(162	)	$	35,272