GREENVILLE, S.C.--(BUSINESS WIRE)--Regional Management Corp. (NYSE: RM), a diversified consumer finance company, announced today that Peter R. Knitzer, its President and Chief Executive Officer, recently accepted the Latino Corporate Directors Association (LCDA) 2019 Corporate Visionary Award, recognizing Regional Management’s commitment to an inclusive and diverse Board of Directors, which includes four Latino members.
This year’s honorees are at the forefront of those working to increase the number of Latinos on corporate boards. Only 2.7% of Fortune 1000 company board seats are held by Latinos, and the number of Latinas on boards is less than 1%. Yet, study after study has shown the financial benefits of inclusivity, with the latest research finding that inclusive organizations are 6x more likely to be innovative and agile and 2x more likely to meet or exceed financial targets.
“We are proud of having instilled a culture of inclusion across our company – one that fosters the participation of diverse skill sets, experiences, and perspectives when making critical decisions about our business and operations,” said Mr. Knitzer. “We are honored that Regional Management has been recognized by the Latino Corporate Directors Association as a recipient of the 2019 Corporate Visionary Award. We will continue to prioritize the inclusion of diverse viewpoints and backgrounds on our Board and among our team members, as we believe that diversity significantly contributes to our company’s success.”
Regional Management is pleased to acknowledge and celebrate the contributions of its four Latino board members – Carlos Palomares, Roel C. Campos, Alvaro G. de Molina, and Maria Contreras-Sweet – who collectively make up half of Regional Management’s Board.
“LCDA’s Corporate Visionary Award is presented to a select group of forward-looking companies who are leading the way and have the distinction of having two or more US Latinos serving on their boards,” said Esther Aguilera, LCDA President and CEO. “We were honored to recognize Regional Management as an exemplary company that leverages the expertise and experience of Latinos in the boardroom.”
This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Regional Management Corp.’s expectations or beliefs concerning future events. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “outlook,” and similar expressions may be used to identify these forward-looking statements. 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: changes in general economic conditions, including levels of unemployment and bankruptcies; risks associated with Regional Management’s transition to a new loan origination and servicing software system; risks related to opening new branches, including the ability or inability to open new branches as planned; risks inherent in making loans, including credit risk, repayment risk, and value of collateral, which risks may increase in light of adverse or recessionary economic conditions; risks associated with the implementation of new underwriting models and processes, including as to the effectiveness of new custom scorecards; risks relating to Regional Management’s asset-backed securitization transactions; changes in interest rates; the risk that Regional Management’s existing sources of liquidity become insufficient to satisfy its needs or that its access to these sources becomes unexpectedly restricted; changes in federal, state, or local laws, regulations, or regulatory policies and practices, and risks associated with the manner in which laws and regulations are interpreted, implemented, and enforced; the impact of changes in tax laws, guidance, and interpretations, including related to certain provisions of the Tax Cuts and Jobs Act; 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 credit losses); changes in Regional Management’s markets and general changes in the economy (particularly in the markets served by Regional Management); changes in the competitive environment in which Regional Management operates or a decrease in the demand for its products; risks related to acquisitions; changes in operating and administrative expenses; and the departure, transition, or replacement of key personnel. Such factors and others are discussed in greater detail in Regional Management’s filings with the Securities and Exchange Commission. Regional Management will not update the information contained in this press release beyond the publication date, except to the extent required by law, and is not responsible for changes made to this document by wire services or Internet services.
About Regional Management Corp.
Regional Management Corp. (NYSE: RM) is a diversified consumer finance company that provides attractive, easy-to-understand installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. Regional Management operates under the name “Regional Finance” in 356 branch locations across 11 states in the Southeastern, Southwestern, Mid-Atlantic, and Midwestern United States. Most of its loan products are secured, and each is structured on a fixed rate, fixed term basis with fully amortizing equal monthly installment payments, repayable at any time without penalty. Regional Management sources loans through its multiple channel platform, which includes branches, centrally-managed direct mail campaigns, digital partners, retailers, and its consumer website. For more information, please visit www.RegionalManagement.com.
About the Latino Corporate Directors Association
The Latino Corporate Directors Association (LCDA) is a new and dynamic association that has been fully operational since 2016. Comprised of US Latinos that serve on publicly traded or large privately held company boards, as well as C-level aspiring directors, LCDA convenes accomplished Latino executives at the highest levels of corporate leadership who share our mission: to increase the number of US Latinos on corporate boards. Our model is focused on expanding opportunities and lifting up the next wave of Latino directors. For more information, please visit www.latinocorporatedirectors.org.