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January 04, 2013 at 08:00 AM EST
Regional Management Corp. Expands to Georgia with New AutoCredit Source Store in Atlanta

Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, announced today the expansion of its operations to Georgia, its eighth U.S. state, with the opening of a new AutoCredit Source (ACS) branch in Atlanta. The company also announced the recent opening of a new AutoCredit Source branch in Austin, Texas.

Collectively, ACS Atlanta and ACS Austin represent the fifth and sixth ACS branches in major metropolitan markets, following the successful launch of ACS branches in Charlotte, Dallas-Fort Worth, Houston and San Antonio. The branches are also the company’s 222nd and 223rd locations and continue Regional Management’s de novo expansion in the Southeastern and Southwestern U.S.

“The AutoCredit Source brand and unit has been a successful extension of our business since we opened the first branch in early 2011, and the opening this week of ACS branches in Atlanta and Austin represent a continuation of our indirect auto lending strategy focusing on major metro markets,” said Thomas Fortin, Chief Executive Officer of Regional Management Corp. “We are excited to provide Atlanta residents with a new source for their indirect auto lending needs, while at the same time providing us with a beachhead to establish additional de novo branches for our various product offerings in Georgia.”

Automobile lending currently represents approximately 42 percent of Regional’s overall lending dollar asset base, and indirect auto lending currently encompasses approximately 15 percent of Regional’s total auto lending asset base.

“Accessing the indirect channel through our ACS locations enables us to introduce our products to higher credit score consumers who shop on franchised dealer lots for new and used cars, as well as to finance lower mileage, newer vehicles that represent better collateral,” added Mr. Fortin. “Our indirect lending strategy complements our traditional direct lending model to used car dealers through traditional Regional branch locations and further supports our cross-selling activities.”

About Regional Management Corp.

Regional Management Corp. (NYSE: RM) is a diversified specialty 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 expanded its branch network to 213 locations with over 219,000 active accounts across South Carolina, Texas, North Carolina, Tennessee, Alabama, Oklahoma and New Mexico as of September 30, 2012. Each of its loan products is secured, 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, furniture and appliance retailers and its consumer website. For more information, please visit http://www.RegionalManagement.com.

Forward-Looking Statements

This press release may contain various “forward-looking statements” within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended, which represent Regional Management’s expectations or beliefs concerning future events. 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: the continuation or worsening of adverse conditions in the global and domestic credit markets and uncertainties regarding, or the impact of governmental responses to those conditions; changes in interest rates; risks related to acquisitions and new branches; risks inherent in making loans, including repayment risks and value of collateral, which risks may increase in light of adverse or recessionary economic conditions; recently-enacted or proposed legislation; 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 charge-offs); changes in Regional Management’s markets and general changes in the economy (particularly in the markets served by Regional Management). Such factors are discussed in greater detail in Regional Management’s filings with the Securities and Exchange Commission. Regional Management Corp. will not and is not responsible for updating the information contained in this press release beyond the publication date, or for changes made to this document by wire services or Internet services.

Contacts:

Regional Management Corp.
Investor Relations
Garrett Edson, 203-682-8331
or
Media Relations
Kim Paone, 646-277-1216
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