Regional Management Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the fourth quarter ended December 31, 2015, the company reported total revenue was $56.7 million from $53.8 million in the prior-year period. Net income for the fourth quarter of 2015 was $7.4 million compared to net income of $3.4 million in the prior-year period. Diluted earnings per share for the fourth quarter of 2015 were $0.56 from $0.26 in the prior-year period. Income before income taxes was $12.4 million against $5.7 million a year ago. Return on average assets was 4.9% against 2.6% a year ago. Return on average equity was 14.6% against 7.7% a year ago. Non-GAAP net income and diluted earnings per share would have been $6.1 million and $0.47, respectively. Revenue growth over the prior-year period was driven by a 15.1% increase in receivables, partially offset by an overall yield decline of 290 basis points. On a sequential basis, yield declined by 50 basis points, stabilizing from earlier quarters.

For the full year ended December 31, 2015, the company reported total revenue of $217.4 million from $204.7 million in the prior year. GAAP net income was $23.4 million compared to GAAP net income of $14.8 million in the prior year, and diluted earnings per share were $1.79 compared to $1.14 in the prior year. Income before income taxes was $38.2 million against $23.939 million a year ago. Return on average assets was 4.2% against 2.9% a year ago. Return on average equity was 12.2% against 8.7% a year ago. Non-GAAP net income for the full year ended December 31, 2015 totaled $23.8 million and non-GAAP diluted earnings per share were $1.82.

Net charge-offs for the fourth quarter of 2015 were $11.8 million, or 7.7% of average finance receivables.