Regional Management(RM) - 2025 Q1 - Quarterly Results

Financial Performance - Net income for Q1 2025 was $7.0 million, with diluted earnings per share of$ 0.70, reflecting a decrease compared to Q1 2024 due to prior-year loan sales[6] - Record first quarter revenue reached $153 million, an increase of 6.0% year-over-year, primarily driven by growth in average net finance receivables[7] - Total revenue for Q1 2025 was$ 152.967 million, an increase of 6.0% compared to $144.308 million in Q1 2024[26] - Net income decreased to$ 7.007 million in Q1 2025, down 53.9% from $15.205 million in Q1 2024[26] - Interest and fee income for Q1 25 was$ 136,553,000, a decrease of $1,693,000 QoQ but an increase of$ 7,735,000 YoY[34] Credit and Delinquency Metrics - The net credit loss rate for Q1 2025 was 12.4%, improving 120 basis points year-over-year after adjusting for prior-year loan sale impacts[4] - Provision for credit losses for Q1 2025 was $58.0 million, a 24.9% increase from the prior-year period, driven by portfolio growth[7] - Net credit losses rose to$ 58,392 million in 1Q 25, compared to $50,226 million in 4Q 24 and$ 46,723 million in 1Q 24, indicating a year-over-year increase of 24.9%[32] - The percentage of net credit losses to average net finance receivables increased to 12.4% in 1Q 25 from 10.8% in 4Q 24 and 10.6% in 1Q 24[32] - Total delinquency rate was 7.1% in 1Q 25, down from 7.7% in 4Q 24, remaining consistent with 7.1% in 1Q 24[33] Asset and Liability Overview - Total assets grew to $1.900 billion, an increase of 8.2% from$ 1.756 billion in Q1 2024[28] - Total liabilities increased to $1.543 billion, an 8.6% rise from$ 1.420 billion in Q1 2024[28] - The debt level in Q1 25 was $1,477,860,000, a decrease of$ 476,000 QoQ and an increase of $119,065,000 YoY[34] Branch and Customer Growth - The company opened 15 new branches since September 2024, with 10 new branches in entirely new markets contributing to rapid growth[8] - Customer accounts increased by 6.4% year-over-year, indicating strong customer acquisition and retention[7] - The number of branches increased to 353, representing a 2.6% growth from 344 branches in the previous quarter[30] Credit Loss Allowance and Expenses - The allowance for credit losses stood at$ 199,100 million in 1Q 25, consistent with 10.5% of total net finance receivables[33] - General and administrative expenses increased to $66,043 million in 1Q 25, representing 43.2% of total revenue, up from 41.8% in 4Q 24[32] Dividend Declaration - A dividend of$ 0.30 per common share was declared for Q2 2025, to be paid on June 11, 2025[10]