GREENVILLE, S.C.--(BUSINESS WIRE)--
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 directors.”
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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