Basswood Capital Enters into Cooperation Agreement with Regional Management
January 30, 2018 at 09:10 pm
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On January 26, 2018, Basswood Capital Management, L.L.C. announced that it has entered into a cooperation agreement with Regional Management Corp. pursuant to which the Company appointed Jonathan D. Brown, a representative of Basswood Capital, to the Board, effective January 26, 2018. Basswood Capital stated that the Company also agreed that, subject to the conditions set forth in the cooperation agreement, the Board would nominate Jonathan D. Brown for election to the Board at the Company’s 2018 annual meeting of stockholders.
Regional Management Corp. is a diversified consumer finance company. The Company provides installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. Its products include small and large installment loans. It provides its customers optional payment and collateral protection insurance. It offers small installment loans with cash proceeds to customers ranging from $500 to $2,500, with terms of up to 48 months. It offers large installment loans with cash proceeds to customers ranging from $2,501 to $25,000, with terms between 18 and 60 months. It offers its customers optional payment and collateral protection insurance relating to its loan products, including credit life insurance, accident and health insurance, involuntary unemployment insurance, and personal property insurance. The Company also offers indirect retail installment loans of up to $7,500. It operates under the name Regional Finance.
REGIONAL MANAGEMENT CORP. 
