Regional Management Corp. - 10-Q filing on 2012-08-13

Finance Receivables, Credit Quality Information, and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2012


	June 30, 2012		December 31, 2011
	(Unaudited)
Small installment loans	$	121,300	$	130,257
Large installment loans		57,053		36,938
Automobile purchase loans		146,478		128,660
Furniture and appliance purchase loans		20,580		10,739

Finance receivables	$	345,411	$	306,594


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Unaudited)						(Unaudited)
Balance at beginning of period	$	19,860		$	18,000		$	19,300		$	18,000
Provision for loan losses		5,908			3,489			11,535			7,325
Finance receivables charged off		(5,210	)		(3,612	)		(10,452	)		(7,616	)
Recoveries		222			123			397			291

Balance at end of period	$	20,780		$	18,000		$	20,780		$	18,000


	Balance April 1, 2012		Provision		Charge- Offs			Recoveries		Balance June 30, 2012		Finance Receivables June 30, 2012		Allowance as Percentage of Loan Balance June 30, 2012
Small installment loans	$	8,147	$	4,296	$	(2,983	)	$	91	$	9,551	$	121,300		7.9	%
Large installment loans		3,490		519		(812	)		96		3,293		57,053		5.8	%
Automobile purchase loans		7,756		985		(1,325	)		35		7,451		146,478		5.1	%
Furniture and appliance purchase loans		467		108		(90	)		—		485		20,580		2.4	%

Total	$	19,860	$	5,908	$	(5,210	)	$	222	$	20,780	$	345,411		6.0	%


	Balance April 1, 2011		Provision		Charge- Offs			Recoveries		Balance June 30, 2011		Finance Receivables June 30, 2011		Allowance as Percentage of Loan Balance June 30, 2011
Small installment loans	$	6,953	$	2,603	$	(2,361	)	$	86	$	7,281	$	105,441		6.9	%
Large installment loans		2,478		541		(418	)		14		2,615		34,186		7.6	%
Automobile purchase loans		8,399		177		(798	)		22		7,800		114,739		6.8	%
Furniture and appliance purchase loans		170		168		(35	)		1		304		4,834		6.3	%

Total	$	18,000	$	3,489	$	(3,612	)	$	123	$	18,000	$	259,200		6.9	%


	Balance January 1, 2012		Provision		Charge- Offs			Recoveries		Balance June 30, 2012		Finance Receivables June 30, 2012		Allowance as Percentage of Finance Receivables June 30, 2012
Small installment loans	$	8,838	$	6,746	$	(6,246	)	$	213	$	9,551	$	121,300		7.9	%
Large installment loans		2,448		2,009		(1,285	)		121		3,293		57,053		5.8	%
Automobile purchase loans		7,618		2,532		(2,761	)		62		7,451		146,478		5.1	%
Furniture and appliance purchase loans		396		248		(160	)		1		485		20,580		2.4	%

Total	$	19,300	$	11,535	$	(10,452	)	$	397	$	20,780	$	345,411		6.0	%


	Balance January 1, 2011		Provision		Charge- Offs			Recoveries		Balance June 30, 2011		Finance Receivables June 30, 2011		Allowance as Percentage of Finance Receivables June 30, 2011
Small installment loans	$	8,974	$	2,924	$	(4,826	)	$	209	$	7,281	$	105,441		6.9	%
Large installment loans		2,972		607		(997	)		33		2,615		34,186		7.6	%
Automobile purchase loans		5,909		3,566		(1,723	)		48		7,800		114,739		6.8	%
Furniture and appliance purchase loans		145		228		(70	)		1		304		4,834		6.3	%

Total	$	18,000	$	7,325	$	(7,616	)	$	291	$	18,000	$	259,200		6.9	%


	Finance Receivables in Bankruptcy as of June 30, 2012		Finance Receivables in Bankruptcy as of December 31, 2011
	(Unaudited)
Small installment loans	$	364	$	352
Large installment loans		1,775		586
Automobile purchase loans		2,433		2,160
Furniture and appliance purchase loans		53		32

Total	$	4,625	$	3,130


	June 30, 2012 (Unaudited)
	Small Installment Loans					Large Installment Loans					Automobile Purchase Loans					Furniture and Appliance Purchase Loans					Total
	$		%			$		%			$		%			$		%			$ %
Current	$	91,219		75.2	%	$	42,282		74.0	%	$	107,863		73.7	%	$	17,194		83.5	%	$	258,558	75.0	%
1 to 29 days delinquent		20,743		17.1	%		10,699		18.8	%		31,663		21.6	%		2,677		13.0	%		65,782	19.0	%

Delinquent accounts
30 to 59 days		3,443		2.8	%		1,933		3.4	%		4,143		2.8	%		302		1.5	%		9,821	2.8	%
60 to 89 days		1,937		1.6	%		771		1.4	%		1,336		0.9	%		143		0.7	%		4,187	1.2	%
Over 90 days		3,958		3.3	%		1,368		2.4	%		1,473		1.0	%		264		1.3	%		7,063	2.0	%

Total delinquency	$	9,338		7.7	%	$	4,072		7.2	%	$	6,952		4.7	%	$	709		3.5	%	$	21,071	6.0	%

Total loans	$	121,300		100.0	%	$	57,053		100.0	%	$	146,478		100.0	%	$	20,580		100.0	%	$	345,411	100.0	%

Loans in nonaccrual status	$	3,958		3.3	%	$	1,368		2.4	%	$	1,473		1.0	%	$	264		1.3	%	$	7,063	2.0	%


	December 31, 2011
	Small Installment Loans					Large Installment Loans					Automobile Purchase Loans					Furniture and Appliance Purchase Loans					Total
	$		%			$		%			$		%			$		%			$		%
Current	$	97,240		74.7	%	$	25,787		69.8	%	$	91,947		71.5	%	$	9,101		84.7	%	$	224,075		73.0	%
1 to 29 days delinquent		22,784		17.5	%		8,202		22.2	%		30,376		23.6	%		1,313		12.2	%		62,675		20.5	%

Delinquent accounts
30 to 59 days		4,084		3.1	%		1,484		4.0	%		3,962		3.1	%		146		1.4	%		9,676		3.2	%
60 to 89 days		3,002		2.3	%		686		1.9	%		1,185		0.9	%		75		0.7	%		4,948		1.6	%
90 days and over		3,147		2.4	%		779		2.1	%		1,190		0.9	%		104		1.0	%		5,220		1.7	%

Total delinquency	$	10,233		7.8	%	$	2,949		8.0	%	$	6,337		4.9	%	$	325		3.1	%	$	19,844		6.5	%

Total loans	$	130,257		100.0	%	$	36,938		100.0	%	$	128,660		100.0	%		10,739		100.0	%	$	306,594		100.0	%

Loans in nonaccrual status	$	3,147		2.4	%	$	779		2.1	%	$	1,190		0.9	%	$	104		1.0	%	$	5,220		1.7	%


	June 30, 2012		December 31, 2011
	(Unaudited)
Finance receivables evaluated for impairment
Accounts 180 or more days past due, excluding accounts of customers in bankruptcy	$	1,549	$	1,074
Customers in Chapter 13 bankruptcy		4,625		3,130

Total impaired accounts specifically evaluated	$	6,174	$	4,204
Finance receivables evaluated collectively		339,237		302,390

Finance receivables outstanding	$	345,411	$	306,594

Accounts in bankruptcy in nonaccrual status	$	902	$	783


Total impaired accounts specifically evaluated	$	6,174	$	4,204

Amount of the specific reserve for impaired accounts	$	3,089	$	2,187

Finance receivables evaluated collectively	$	339,237	$	302,390

Amount of the general component of the reserve	$	17,691	$	17,113