On March 2, 2026, Regional Management Corp. entered into a Program Management Agreement with Column National Association to establish a new installment lending program where Column acts as lender and the Company as service provider and program manager. The agreement includes fee structures, loan purchase options post-hold period, financial covenants, and an initial term ending March 31, 2031 with automatic renewals.
Key takeaways
Entered PMA with Column National Association on March 2, 2026
Column serves as lender for secured and unsecured installment loans in select states
Company performs marketing, processing, and loan servicing; receives marketing, processing, and servicing fees
Column pays platform and usage fees to Company; retains control over program, credit risk, and underwriting
Company must purchase loans offered by Column after hold period except in limited circumstances
Initial term ends March 31, 2031; auto-renews for 2-year terms unless 365 days' notice
Includes monthly financial covenants on liquidity and total net worth