Marlin Business Services Q1 net income $4.1 million
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First quarter 2015 lease and loan production is $81.6 million, compared to $89.5 million in the fourth quarter of 2014 and $74 million in first quarter of 2014.
First quarter 2015 lease and loan production is $81.6 million.
The company's cost of funds was 85 basis points, compared to 86 basis points for the fourth quarter of 2014 and 80 basis points for the first quarter of 2014.
The allowance for credit losses as a percentage of total finance receivables is 1.47% at March 31, 2015, and represents 228% of total 60+ day delinquencies.
30+ day delinquencies were 0.87% of total finance receivables as of March 31, 2015, 2 basis points higher than the fourth quarter of 2014 and the first quarter of 2014. 60+ day delinquencies were 0.57% of total finance receivables as of March 31, 2015, up slightly, from 0.51% at December 31, 2014.
First quarter net charge-offs were 1.70% of average total finance receivables versus 1.56% for the fourth quarter ended December 31, 2014 and 1.38% a year ago.
The company's efficiency ratio was 52% for the quarter ended March 31, 2015 compared to 54% a year ago.
The company's consolidated equity to assets ratio is 22.76% and risk based capital ratio is 27.25%. ■