Julie Booth joins Regional Management board

GREENVILLE, S.C. - Regional Management Corp. (NYSE: RM), a diversified consumer finance company, has expanded its Board of Directors with the appointment of Julie Booth, effective immediately. Booth, who recently served as Chief Financial Officer and Treasurer of Rocket Companies (NYSE: RKT), brings extensive financial services experience to the nine-member board. According to InvestingPro data, Rocket Companies has demonstrated strong financial health with a current ratio of 21.12, indicating robust liquidity management under Booth’s leadership.

Booth’s addition to the board is expected to bolster the company’s financial expertise and contribute to its long-term growth strategy. She will serve on the Audit Committee, leveraging her background that includes leading Rocket through its IPO in 2020 and holding various senior financial positions over her two-decade tenure there. Booth’s career also includes 13 years in Ernst & Young’s audit group and interim CFO for a Michigan-based pharmaceutical startup.

Maria Contreras-Sweet, Chair of the Corporate Governance and Nominating Committee at Regional Management, expressed confidence that Booth’s insights and leadership experience will be valuable assets to the company.

Booth shared her enthusiasm for joining the board, emphasizing her commitment to collaborating with the board and management to further the company’s growth and enhance shareholder value.

Regional Management Corp. provides installment loan products, primarily to customers with limited access to consumer credit from traditional sources. Operating in 19 states, the company offers secured loans with fixed rates and terms, repayable without penalty. Its loan sourcing channels include branches, direct mail campaigns, digital partners, and its consumer website. For deeper insights into both companies’ financial metrics and growth potential, investors can access comprehensive Pro Research Reports available on InvestingPro, covering over 1,400 US equities with detailed analysis and actionable intelligence.

The company’s forward-looking statements in the press release are subject to risks and uncertainties, and actual results may differ materially. Factors that could affect performance include managing growth, implementing growth strategies, credit risk, economic conditions, and changes in laws or regulations.

This news is based on a press release statement from Regional Management Corp.

In other recent news, Rocket Companies reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an earnings per share (EPS) of $0.04, exceeding the forecast of $0.03. Revenue reached $1.19 billion, outpacing the anticipated $1.16 billion, marking a 34% year-over-year increase. The company also announced plans to acquire Redfin in an all-stock deal valued at $1.75 billion, aiming to integrate its digital mortgage services with Redfin’s real estate platform. This acquisition is expected to bring significant revenue synergies, with Rocket anticipating more than $200 million in run-rate synergies by 2027.

Additionally, Rocket Companies declared a special cash dividend of $0.80 per share of Class A common stock. On the analyst front, Keefe, Bruyette & Woods raised Rocket Companies’ stock price target to $12.00 from $10.50 but maintained an Underperform rating. The firm revised its EPS estimates for 2025, 2026, and 2027, reflecting cautious optimism amid high mortgage rates. Despite these developments, analysts expressed concerns about the potential risks associated with sustained high mortgage rates and uncertain improvements in refinance volumes through 2027.

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