GREENVILLE, S.C.--(BUSINESS WIRE)--Dec. 18, 2017--
Regional Management Corp. (NYSE: RM), a diversified consumer finance
company, acknowledges the filing on December 15, 2017 of a Schedule 13D
by Basswood Capital Management, L.L.C. and issues the following
statement relating to the matters raised in the filing:
“Regional Management is focused on executing a business strategy that
aligns the best interests of the Company and all of its shareholders.
The Company regularly engages its shareholders, including Basswood, in
open dialogue and welcomes constructive input towards the mutual goal of
driving long-term shareholder value. We look forward to continuing to
engage with Basswood and the rest of our shareholder base.
“Basswood’s director request will be reviewed by the Company’s Board of
Directors, including its Corporate Governance and Nominating Committee,
in a manner consistent with the Company’s corporate governance processes
and principles. The Corporate Governance and Nominating Committee and
the full Board of Directors regularly review the mix of relevant
experience, qualifications, and skills of its directors in order to
ensure that the Board, as a whole, has the necessary tools to perform
its oversight function effectively. Any decisions regarding the
structure or composition of the Board will be informed by a careful,
thoughtful process to identify director candidates who possess the
expertise and perspective necessary to complement the diversity of
skills and experience currently possessed by the Company’s existing
About Regional Management Corp.
Regional Management Corp. (NYSE: RM) is a diversified consumer finance
company providing a broad array of loan products primarily to customers
with limited access to consumer credit from banks, thrifts, credit card
companies, and other traditional lenders. Regional Management began
operations in 1987 with four branches in South Carolina and has since
expanded its branch network across South Carolina, Texas, North
Carolina, Tennessee, Alabama, Oklahoma, New Mexico, Georgia, and
Virginia. Each of its loan products is structured on a fixed rate, fixed
term basis with fully amortizing equal monthly installment payments and
is repayable at any time without penalty. Regional Management’s loans
are sourced through its multiple channel platform, including in its
branches, through direct mail campaigns, independent and franchise
automobile dealerships, online credit application networks, retailers,
and its consumer website. For more information, please visit www.RegionalManagement.com.
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Source: Regional Management Corp.
For Regional Management Corp.
John McKenna, 203-682-8252