Regional Management (RM) 8-K Regional Management Corp. Announces Second Quarter 2019 Results

Exhibit 99.1

Regional Management Corp. Announces Second Quarter 2019 Results

-    Net income of $8.4 million and diluted earnings per share of $0.70    -

-    17^th consecutive quarter of year-over-year double-digit total finance receivables growth    -

-    12^th consecutive quarter of year-over-year double-digit revenue growth    -

Greenville, South Carolina – July 31, 2019 –Regional Management Corp. (NYSE: RM) (the “Company”), a diversified consumer finance company, today announced results for the second quarter ended June 30, 2019.

Second Quarter 2019 Highlights

• Net income for the second quarter of 2019 was $8.4 million, a 1.3% reduction from the prior-year period. Diluted earnings per share for the second quarter of 2019 was $0.70, comparable with the prior-year period.

• Total finance receivables as of June 30, 2019 were $973.4 million, an increase of 14.9%, or $126.2 million, from the prior-year period.

• 17^th consecutive quarter of year-over-year double-digit finance receivables growth.

• Total core small and large loan finance receivables increased $153.2 million, or 19.7%, compared to the prior-year period.

• Large loan finance receivables of $498.8 million increased $106.7 million, or 27.2%, from the prior-year period and represented 51.2% of the total loan portfolio. Small loan finance receivables as of June 30, 2019 were $431.2 million, an increase of 12.1% over the prior-year period.

• Total revenue for the second quarter of 2019 was $84.3 million, an $11.9 million, or 16.4%, increase from the prior-year period.

• 12^th consecutive quarter of year-over-year double-digit revenue growth.

• Interest and fee income increased 13.7%, driven by a 14.9% increase in finance receivables compared to the prior-year period.

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• Insurance income, net increased $2.2 million, driven by an increase in premium revenue and a decrease innon-file insurance claims expense (due to the previously disclosed change in business practice to lower the utilization ofnon-file insurance).

• Provision for credit losses for the second quarter of 2019 was $25.7 million, an increase of $5.5 million, or 27.3%, from the prior-year period. The increase was primarily due to $5.4 million of higher net credit losses, including $1.4 million related to the change in non-file insurance business practice. This change had no impact on net income.

• Annualized net credit losses as a percentage of average finance receivables were 10.7%, a 120 basis point increase from 9.5% in the prior-year period. Approximately 60 basis points of the increase stemmed from higher late-stage delinquencies at March 31, 2019 compared to March 31, 2018, and the other 60 basis points of the increase was due to incremental non-file insurance claims shifting from insurance income, net to credit losses as compared to the prior-year period. The second quarters of 2019 and 2018 included 60 and 50 basis points of hurricane-related credit losses, respectively.

• 30+ day contractual delinquencies as of June 30, 2019 were 6.4%, compared to 6.3% as of June 30, 2018.

• During the second quarter of 2019, the Company repurchased 285,204 shares of its common stock at a weighted-average price of $25.02 per share under the Company’s $25.0 million share repurchase program. As of July 30, 2019, the Company had repurchased 489,428 shares of its common stock under the program at a weighted-average price of $25.54 per share, and there remained $12.5 million available for repurchases under the program.

“We were pleased to complete another strong quarter of performance, including consistent, year-over-year double-digit revenue growth and record sequential finance receivable growth of $61 million,” said Peter R. Knitzer, President and Chief Executive Officer of Regional Management. “We continue to execute very well on our hybrid growth strategy of increasing receivables in existing branches while achieving strong growth from our de novo branches. We also made progress toward becoming a true omni-channel provider for our customers, having launched our new customer-facing website this week.”

“Additionally, our custom credit scorecards are performing very well and, as of June 30th, over 50% of our loan portfolio has been underwritten by these advanced capabilities. We expect to reap the benefits of these advanced tools on our credit performance by the end of 2019 and throughout 2020 and beyond,” added Mr. Knitzer. “We also kept our overall expenses as a percentage of average receivables consistent from the prior year, as we remain focused on controlling expenses. Overall, given our strong second quarter performance, we continue to expect to return to year-over-year double-digit net income growth in the second half of 2019.”

Second Quarter 2019 Results

Finance receivables outstanding at June 30, 2019 were $973.4 million, a 14.9% increase from $847.2 million in the prior-year period. The finance receivables increase was driven by double-digit growth in both the core small and large loan portfolios.

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For the second quarter ended June 30, 2019, the Company reported total revenue of $84.3 million, a 16.4% increase from $72.4 million in the prior-year period. Interest and fee income for the second quarter of 2019 was $76.0 million, a 13.7% increase from $66.8 million in the prior-year period, related to continued consistent growth in the small and large loan portfolios.

The provision for credit losses in the second quarter of 2019 was $25.7 million, a $5.5 million, or 27.3%, increase compared to $20.2 million in the prior-year period. The increase was primarily due to $5.4 million of higher net credit losses, including $1.4 million related to the change in business practice to lower the utilization of non-file insurance.

Net credit losses were $24.9 million in the second quarter of 2019, an increase of $5.4 million over the prior-year period. Annualized net credit losses as a percentage of average finance receivables in the second quarter of 2019 were 10.7%, a 120 basis point increase from 9.5% in the prior-year period. Approximately 60 basis points of the increase stemmed from higher late-stage delinquencies at March 31, 2019 compared to March 31, 2018, and the other 60 basis points of the increase was due to incremental non-file insurance claims shifting from insurance income, net to credit losses as compared to the prior-year period. The second quarters of 2019 and 2018 also included 60 and 50 basis points of hurricane-related credit losses, respectively.

General and administrative expenses for the second quarter of 2019 were $37.7 million, an increase of $4.5 million, or 13.6%, from the prior-year period. Annualized general and administrative expenses as a percentage of average finance receivables were 16.2%, comparable with the prior-year period. General and administrative expenses for the second quarter of 2019 included $1.3 million of incremental costs related to 16 net new branches that opened since the prior-year period. The second quarter of 2019 also included $2.3 million of incremental costs for our existing branches to support ongoing loan portfolio growth.

Interest expense was $9.8 million in the second quarter of 2019, compared to $7.9 million in the prior-year period. The increase in interest expense was due to higher cost of funding due to federal funds rate increases and larger long-term debt amounts outstanding from the ongoing growth in finance receivables. In addition, the Company had larger unused lines of credit and incremental debt issuance costs associated with the 2018 asset-backed securitization transactions.

Net income for the second quarter of 2019 was $8.4 million, a slight decrease from $8.5 million in the prior-year period. Diluted earnings per share for the second quarter of 2019 was $0.70, comparable with the prior-year period.

2019 De Novo Outlook

As of June 30, 2019, the Company’s branch network consisted of 356 locations. The Company opened 22 de novo branches since the end of the second quarter of 2018 and expects to open an additional 15 branches by the end of the year.

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Liquidity and Capital Resources

As of June 30, 2019, the Company had finance receivables of $973.4 million and outstanding long-term debt of $689.3 million, consisting of:

• $345.6 million on its $638.0 million senior revolving credit facility,

• $12.3 million on its amortizing loan,

• $50.9 million on its $125.0 million revolving warehouse credit facility, and

• $280.6 million through its asset-backed securitizations.

The Company had a fundeddebt-to-equity ratio of 2.4 to 1.0 and a shareholder equity ratio of 28.4% as of June 30, 2019.

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 (800) 319-4610 (toll-free) or (631)891-4304 (direct). 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 be available on Regional Management’s website atwww.RegionalManagement.com.

A replay will be available following the end of the call through Wednesday, August 7, 2019, by telephone at (844) 512-2921 (toll-free) or (412) 317-6671 (international), passcode 10007210. A webcast replay of the call will be available atwww.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: changes in general economic conditions, including levels of unemployment and bankruptcies; risks associated with Regional Management’s transition to a new loan origination and servicing software system; risks related to opening new branches, including the ability or inability to open new branches as planned; risks inherent in making loans, including credit risk, repayment risk, and value of collateral, which risks may

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increase in light of adverse or recessionary economic conditions; risks associated with the implementation of new underwriting models and processes, including as to the effectiveness of new custom scorecards; risks relating to Regional Management’s asset-backed securitization transactions; changes in interest rates; the risk that Regional Management’s existing sources of liquidity become insufficient to satisfy its needs or that its access to these sources becomes unexpectedly restricted; changes in federal, state, or local laws, regulations, or regulatory policies and practices, and risks associated with the manner in which laws and regulations are interpreted, implemented, and enforced; the impact of changes in tax laws, guidance, and interpretations, including related to certain provisions of the Tax Cuts and Jobs Act; 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 credit losses); changes in Regional Management’s markets and general changes in the economy (particularly in the markets served by Regional Management); changes in the competitive environment in which Regional Management operates or a decrease in the demand for its products; the impact of a prolonged shutdown of the federal government; risks related to acquisitions; 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 that provides attractive, easy-to-understand installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. Regional Management operates under the name “Regional Finance” in 356 branch locations across 11 states in the Southeastern, Southwestern, Mid-Atlantic, and Midwestern United States. Most of its loan products are secured, and each is structured on a fixed rate, fixed term basis with fully amortizing equal monthly installment payments, repayable at any time without penalty. Regional Management sources loans through its multiple channel platform, which includes branches, centrally-managed direct mail campaigns, digital partners, retailers, and its consumer website. For more information, please visitwww.RegionalManagement.com.

Contact:

Investor Relations

Garrett Edson, (203)682-8331

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Regional Management Corp. and Subsidiaries

Consolidated Statements of Income

(Unaudited)

(in thousands, except per share amounts)

							Better (Worse)												Better (Worse)
	2Q 19			2Q 18			$			%			YTD 19			YTD 18			$			%
Revenue
Interest and fee income	$	75,974		$	66,829		$	9,145			13.7	%	$	150,296		$	132,980		$	17,316			13.0	%
Insurance income, net		5,066			2,882			2,184			75.8	%		9,179			6,271			2,908			46.4	%
Other income		3,234			2,705			529			19.6	%		6,547			5,790			757			13.1	%
Total revenue		84,274			72,416			11,858			16.4	%		166,022			145,041			20,981			14.5	%
Expenses
Provision for credit losses		25,714			20,203			(5,511	)		(27.3	)%		49,057			39,718			(9,339	)		(23.5	)%
Personnel		22,511			19,390			(3,121	)		(16.1	)%		44,904			40,618			(4,286	)		(10.6	)%
Occupancy		6,210			5,478			(732	)		(13.4	)%		12,375			11,096			(1,279	)		(11.5	)%
Marketing		2,261			2,258			(3	)		(0.1	)%		3,912			3,711			(201	)		(5.4	)%
Other		6,761			6,089			(672	)		(11.0	)%		14,735			12,382			(2,353	)		(19.0	)%
Total general and administrative		37,743			33,215			(4,528	)		(13.6	)%		75,926			67,807			(8,119	)		(12.0	)%
Interest expense		9,771			7,915			(1,856	)		(23.4	)%		19,492			15,092			(4,400	)		(29.2	)%
Income before income taxes		11,046			11,083			(37	)		(0.3	)%		21,547			22,424			(877	)		(3.9	)%
Income taxes		2,677			2,601			(76	)		(2.9	)%		5,070			5,298			228			4.3	%
Net income	$	8,369		$	8,482		$	(113	)		(1.3	)%	$	16,477		$	17,126		$	(649	)		(3.8	)%
Net income per common share:
Basic	$	0.71		$	0.73		$	(0.02	)		(2.7	)%	$	1.41		$	1.47		$	(0.06	)		(4.1	)%
Diluted	$	0.70		$	0.70		$	—			0.0	%	$	1.37		$	1.42		$	(0.05	)		(3.5	)%
Weighted-average shares outstanding:
Basic		11,706			11,658			(48	)		(0.4	)%		11,709			11,638			(71	)		(0.6	)%
Diluted		12,022			12,138			116			1.0	%		12,049			12,084			35			0.3	%
Return on average assets (annualized)		3.4	%		4.0	%								3.4	%		4.1	%
Return on average equity (annualized)		11.5	%		13.4	%								11.5	%		13.8	%

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Regional Management Corp. and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

(in thousands, except par value amounts)

							Increase (Decrease)
	2Q 19			2Q 18			$			%
Assets
Cash	$	694		$	2,799		$	(2,105	)		(75.2	)%
Gross finance receivables		1,300,043			1,121,711			178,332			15.9	%
Unearned finance charges and insurance premiums		(326,609	)		(274,473	)		(52,136	)		(19.0	)%
Finance receivables		973,434			847,238			126,196			14.9	%
Allowance for credit losses		(57,200	)		(48,450	)		(8,750	)		(18.1	)%
Net finance receivables		916,234			798,788			117,446			14.7	%
Restricted cash		41,803			26,356			15,447			58.6	%
Lease assets		25,575			—			25,575			100.0	%
Property and equipment		14,132			12,072			2,060			17.1	%
Intangible assets		9,953			10,785			(832	)		(7.7	)%
Deferred tax asset		437			—			437			100.0	%
Other assets		10,488			17,420			(6,932	)		(39.8	)%
Total assets	$	1,019,316		$	868,220		$	151,096			17.4	%
Liabilities and Stockholders’ Equity
Liabilities:
Long-term debt	$	689,310		$	595,765		$	93,545			15.7	%
Unamortized debt issuance costs		(7,357	)		(7,437	)		80			1.1	%
Net long-term debt		681,953			588,328			93,625			15.9	%
Lease liabilities		27,454			—			27,454			100.0	%
Accounts payable and accrued expenses		19,690			17,526			2,164			12.3	%
Deferred tax liability		—			3,832			(3,832	)		(100.0	)%
Total liabilities		729,097			609,686			119,411			19.6	%
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, 13,494 shares issued and 11,663 shares outstanding at June 30, 2019 and 13,334 shares issued and 11,788 shares outstanding at June 30, 2018)		1,349			1,333			16			1.2	%
Additionalpaid-in-capital		100,486			96,369			4,117			4.3	%
Retained earnings		220,574			185,878			34,696			18.7	%
Treasury stock (1,831 shares at June 30, 2019 and 1,546 shares at June 30, 2018)		(32,190	)		(25,046	)		(7,144	)		(28.5	)%
Total stockholders’ equity		290,219			258,534			31,685			12.3	%
Total liabilities and stockholders’ equity	$	1,019,316		$	868,220		$	151,096			17.4	%

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Regional Management Corp. and Subsidiaries

Selected Financial Data

(Unaudited)

(in thousands, except per share amounts)

	Finance Receivables by Product
	2Q 19		1Q 19		QoQ $ Inc (Dec)			QoQ % Inc (Dec)			2Q 18		YoY $ Inc (Dec)			YoY % Inc (Dec)
Small loans	$	431,214	$	421,712	$	9,502			2.3	%	$	384,690	$	46,524			12.1	%
Large loans		498,757		440,707		58,050			13.2	%		392,101		106,656			27.2	%
Total core loans		929,971		862,419		67,552			7.8	%		776,791		153,180			19.7	%
Automobile loans		15,686		20,511		(4,825	)		(23.5	)%		39,414		(23,728	)		(60.2	)%
Retail loans		27,777		29,320		(1,543	)		(5.3	)%		31,033		(3,256	)		(10.5	)%
Total finance receivables	$	973,434	$	912,250	$	61,184			6.7	%	$	847,238	$	126,196			14.9	%
Number of branches at period end		356		360		(4	)		(1.1	)%		340		16			4.7	%
Average finance receivables per branch	$	2,734	$	2,534	$	200			7.9	%	$	2,492	$	242			9.7	%

	Averages and Yields
	2Q 19					1Q 19					2Q 18
	Average Finance Receivables		Average Yield (Annualized)			Average Finance Receivables		Average Yield (Annualized)			Average Finance Receivables		Average Yield (Annualized)
Small loans	$	419,349		38.6	%	$	434,195		38.2	%	$	366,647		40.1	%
Large loans		468,305		28.6	%		437,475		28.0	%		375,836		28.6	%
Automobile loans		17,933		14.6	%		23,226		14.8	%		43,980		16.0	%
Retail loans		28,786		18.8	%		30,052		18.6	%		31,530		18.8	%
Total interest and fee yield	$	934,373		32.5	%	$	924,948		32.1	%	$	817,993		32.7	%
Total revenue yield	$	934,373		36.1	%	$	924,948		35.4	%	$	817,993		35.4	%

	Components of Increase in Interest and Fee Income 2Q 19 Compared to 2Q 18 Increase (Decrease)
	Volume			Rate			Volume & Rate			Net
Small loans	$	5,279		$	(1,363	)	$	(196	)	$	3,720
Large loans		6,609			38			9			6,656
Automobile loans		(1,042	)		(153	)		91			(1,104	)
Retail loans		(129	)		2			—			(127	)
Product mix		(1,209	)		1,158			51			—
Total increase in interest and fee income	$	9,508		$	(318	)	$	(45	)	$	9,145

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	Net Loans Originated (1) (2)
	2Q 19		1Q 19		QoQ $ Inc (Dec)			QoQ % Inc (Dec)			2Q 18		YoY $ Inc (Dec)			YoY % Inc (Dec)
Small loans	$	174,440	$	129,245	$	45,195			35.0	%	$	165,023	$	9,417			5.7	%
Large loans		169,373		84,068		85,305			101.5	%		109,186		60,187			55.1	%
Retail loans		5,179		6,197		(1,018	)		(16.4	)%		6,713		(1,534	)		(22.9	)%
Total net loans originated	$	348,992	$	219,510	$	129,482			59.0	%	$	280,922	$	68,070			24.2	%

(1) Represents the balance of loan origination and refinancing net of unearned finance charges.

(2) The Company ceased originating automobile loans in November 2017.

	Other Key Metrics
	2Q 19			1Q 19			2Q 18
Net credit losses (1) (2)	$	24,915		$	25,243		$	19,503
Percentage of average finance receivables (annualized)		10.7	%		10.9	%		9.5	%
Provision for credit losses (3)	$	25,714		$	23,343		$	20,203
Percentage of average finance receivables (annualized)		11.0	%		10.1	%		9.9	%
Percentage of total revenue		30.5	%		28.6	%		27.9	%
General and administrative expenses	$	37,743		$	38,183		$	33,215
Percentage of average finance receivables (annualized)		16.2	%		16.5	%		16.2	%
Percentage of total revenue		44.8	%		46.7	%		45.9	%
Same store results:
Finance receivables atperiod-end	$	956,277		$	902,090		$	839,741
Finance receivable growth rate		12.9	%		12.1	%		15.6	%
Number of branches in calculation		333			337			334

(1) Includes hurricane-related net credit losses of $1,429, $896, and $1,073 for 2Q 19, 1Q 19, and 2Q 18, respectively.

(2) Includes net credit losses related to lower utilization ofnon-file insurance of $1,779, $1,634, and $344 for 2Q 19, 1Q 19, and 2Q 18, respectively.

(3) Includes hurricane-related provision for credit losses of $(571), $(704), and $(677) for 2Q 19, 1Q 19, and 2Q 18, respectively.

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	Contractual Delinquency by Aging
	2Q 19				1Q 19				2Q 18
Allowance for credit losses (1)	$	57,200	5.9	%	$	56,400	6.2	%	$	48,450	5.7	%
Current		805,215	82.7	%		762,748	83.6	%		704,770	83.1	%
1 to 29 days past due		106,017	10.9	%		85,942	9.4	%		89,510	10.6	%
Delinquent accounts:
30 to 59 days		22,082	2.3	%		18,066	2.0	%		18,886	2.3	%
60 to 89 days		13,961	1.4	%		13,850	1.5	%		12,103	1.4	%
90 to 119 days		9,962	1.1	%		11,745	1.3	%		8,373	1.0	%
120 to 149 days		8,089	0.8	%		9,902	1.1	%		6,857	0.8	%
150 to 179 days		8,108	0.8	%		9,997	1.1	%		6,739	0.8	%
Total contractual delinquency (2)	$	62,202	6.4	%	$	63,560	7.0	%	$	52,958	6.3	%
Total finance receivables	$	973,434	100.0	%	$	912,250	100.0	%	$	847,238	100.0	%
1 day and over past due	$	168,219	17.3	%	$	149,502	16.4	%	$	142,468	16.9	%
	Contractual Delinquency by Product
	2Q 19				1Q 19				2Q 18
Small loans	$	33,276	7.7	%	$	34,990	8.3	%	$	28,347	7.4	%
Large loans		25,447	5.1	%		24,893	5.6	%		19,600	5.0	%
Automobile loans		1,294	8.2	%		1,534	7.5	%		2,909	7.4	%
Retail loans		2,185	7.9	%		2,143	7.3	%		2,102	6.8	%
Total contractual delinquency (2)	$	62,202	6.4	%	$	63,560	7.0	%	$	52,958	6.3	%

(1) Includes incremental hurricane allowance for credit losses of $2,000 in 1Q 19.

(2) Includes 0.4% delinquency related to hurricane-affected branches for 1Q 19.

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	Income Statement Quarterly Trend
	2Q 18		3Q 18		4Q 18		1Q 19		2Q 19		QoQ $ B(W)			YoY $ B(W)
Revenue
Interest and fee income	$	66,829	$	72,128	$	75,013	$	74,322	$	75,974	$	1,652		$	9,145
Insurance income, net		2,882		2,898		5,624		4,113		5,066		953			2,184
Other income		2,705		2,890		3,112		3,313		3,234		(79	)		529
Total revenue		72,416		77,916		83,749		81,748		84,274		2,526			11,858
Expenses
Provision for credit losses		20,203		23,640		23,698		23,343		25,714		(2,371	)		(5,511	)
Personnel		19,390		21,376		22,074		22,393		22,511		(118	)		(3,121	)
Occupancy		5,478		5,490		5,933		6,165		6,210		(45	)		(732	)
Marketing		2,258		2,132		1,902		1,651		2,261		(610	)		(3	)
Other		6,089		6,863		6,707		7,974		6,761		1,213			(672	)
Total general and administrative		33,215		35,861		36,616		38,183		37,743		440			(4,528	)
Interest expense		7,915		8,729		9,643		9,721		9,771		(50	)		(1,856	)
Income before income taxes		11,083		9,686		13,792		10,501		11,046		545			(37	)
Income taxes		2,601		2,237		3,022		2,393		2,677		(284	)		(76	)
Net income	$	8,482	$	7,449	$	10,770	$	8,108	$	8,369	$	261		$	(113	)
Net income per common share:
Basic	$	0.73	$	0.64	$	0.92	$	0.69	$	0.71	$	0.02		$	(0.02	)
Diluted	$	0.70	$	0.61	$	0.90	$	0.67	$	0.70	$	0.03		$	—
Weighted-average shares outstanding:
Basic		11,658		11,672		11,672		11,712		11,706		6			(48	)
Diluted		12,138		12,133		12,010		12,076		12,022		54			116
Net interest margin	$	64,501	$	69,187	$	74,106	$	72,027	$	74,503	$	2,476		$	10,002
Net credit margin	$	44,298	$	45,547	$	50,408	$	48,684	$	48,789	$	105		$	4,491

	Balance Sheet Quarterly Trend
	2Q 18		3Q 18		4Q 18		1Q 19		2Q 19		QoQ $ Inc (Dec)		YoY $ Inc (Dec)
Total assets	$	868,220	$	893,279	$	956,395	$	953,467	$	1,019,316	$	65,849	$	151,096
Finance receivables	$	847,238	$	888,076	$	932,243	$	912,250	$	973,434	$	61,184	$	126,196
Allowance for credit losses	$	48,450	$	55,300	$	58,300	$	56,400	$	57,200	$	800	$	8,750
Long-term debt	$	595,765	$	611,593	$	660,507	$	628,786	$	689,310	$	60,524	$	93,545

	Other Key Metrics Quarterly Trend
	2Q 18			3Q 18			4Q 18			1Q 19			2Q 19			QoQ Inc (Dec)			YoY Inc (Dec)
Interest and fee yield (annualized)		32.7	%		33.2	%		32.9	%		32.1	%		32.5	%		0.4	%		(0.2	)%
Operating expense ratio (1)		16.2	%		16.5	%		16.1	%		16.5	%		16.2	%		(0.3	)%		0.0	%
30+ contractual delinquency		6.3	%		7.1	%		7.7	%		7.0	%		6.4	%		(0.6	)%		0.1	%
Net credit loss (2)		9.5	%		7.7	%		9.1	%		10.9	%		10.7	%		(0.2	)%		1.2	%
Book value per share	$	21.93		$	22.68		$	23.70		$	24.15		$	24.88		$	0.73		$	2.95

(1) Annualized general and administrative expenses as a percentage of average finance receivables.

(2) Annualized net credit losses as a percentage of average finance receivables.

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	Finance Receivables by Product
	2Q 19		1Q 19		QoQ $ Inc (Dec)			QoQ % Inc (Dec)			2Q 18		YoY $ Inc (Dec)			YoY % Inc (Dec)
Small loans	$	431,214	$	421,712	$	9,502			2.3	%	$	384,690	$	46,524			12.1	%
Large loans		498,757		440,707		58,050			13.2	%		392,101		106,656			27.2	%
Total core loans		929,971		862,419		67,552			7.8	%		776,791		153,180			19.7	%
Automobile loans		15,686		20,511		(4,825	)		(23.5	)%		39,414		(23,728	)		(60.2	)%
Retail loans		27,777		29,320		(1,543	)		(5.3	)%		31,033		(3,256	)		(10.5	)%
Total finance receivables	$	973,434	$	912,250	$	61,184			6.7	%	$	847,238	$	126,196			14.9	%
Number of branches at period end		356		360		(4	)		(1.1	)%		340		16			4.7	%
Average finance receivables per branch	$	2,734	$	2,534	$	200			7.9	%	$	2,492	$	242			9.7	%

	Averages and Yields
	YTD 19					YTD 18
	Average Finance Receivables		Average Yield (Annualized)			Average Finance Receivables		Average Yield (Annualized)
Small loans	$	426,732		38.4	%	$	368,570		40.1	%
Large loans		452,975		28.3	%		365,865		28.5	%
Automobile loans		20,565		14.8	%		49,715		15.7	%
Retail loans		29,415		18.7	%		32,091		18.7	%
Total interest and fee yield	$	929,687		32.3	%	$	816,241		32.6	%
Total revenue yield	$	929,687		35.7	%	$	816,241		35.5	%

	Components of Increase in Interest and Fee Income YTD 19 Compared to YTD 18 Increase (Decrease)
	Volume			Rate			Volume & Rate			Net
Small loans	$	11,663		$	(3,208	)	$	(506	)	$	7,949
Large loans		12,422			(342	)		(82	)		11,998
Automobile loans		(2,288	)		(235	)		138			(2,385	)
Retail loans		(250	)		4			—			(246	)
Product mix		(3,065	)		2,757			308			—
Total increase in interest and fee income	$	18,482		$	(1,024	)	$	(142	)	$	17,316

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	Net Loans Originated (1) (2)
	YTD 19		YTD 18		YTD $ Inc (Dec)			YTD % Inc (Dec)
Small loans	$	303,685	$	288,779	$	14,906			5.2	%
Large loans		253,441		197,959		55,482			28.0	%
Retail loans		11,376		14,015		(2,639	)		(18.8	)%
Total net loans originated	$	568,502	$	500,753	$	67,749			13.5	%

(1) Represents the balance of loan origination and refinancing net of unearned finance charges.

(2) The Company ceased originating automobile loans in November 2017.

	Other Key Metrics
	YTD 19			YTD 18
Net credit losses (1) (2)	$	50,157		$	40,178
Percentage of average finance receivables (annualized)		10.8	%		9.8	%
Provision for credit losses (3)	$	49,057		$	39,718
Percentage of average finance receivables (annualized)		10.6	%		9.7	%
Percentage of total revenue		29.5	%		27.4	%
General and administrative expenses	$	75,926		$	67,807
Percentage of average finance receivables (annualized)		16.3	%		16.6	%
Percentage of total revenue		45.7	%		46.8	%

(1) Includes hurricane-related net credit losses of $2,325 and $1,819 for YTD 19 and YTD 18, respectively.

(2) Includes net credit losses related to lower utilization of non-file insurance of $3,413 and $949 for YTD 19 and YTD 18, respectively.

(3) Includes hurricane-related provision for credit losses of $(1,275) and $(981) for YTD 19 and YTD 18, respectively.

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