Lease and loan origination volume was $121.5 million, up 30.3% compared to Q2/15.
Net investment in leases and loans ended the quarter at $730.8 million, up 14% year-over-year.
Average monthly equipment finance sources in Q2/16 was 1,138, a slight dip from the 1,143 recorded in Q2/15.
The total number of sales reps rose to 139 in Q2/16 up from 136 at the end of Q1/16 and 127 in Q2/15.
Total new origination loan and lease yield of 11.78% increased nine basis points from Q1/16 and 66 basis points year-over-year.
Average total finance receivables at the end of Q2/16 came in at $706 million, up roughly 12.5% or $79 million from $627 million a year earlier.
“I am very pleased with Marlin’s second quarter results that included accelerating origination volume, excellent credit quality and solid net income growth,” said Jeffrey Hilzinger, who was hired as CEO during the quarter. “We continue to benefit from last year’s strategic investments in expanding our sales force coupled with contributions from Funding Stream, our working capital loan product, and the Transportation and Franchise channel initiatives. Importantly, we are achieving this growth while maintaining our disciplined underwriting standards and strong overall credit quality, which remains a top priority at Marlin.”
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