Marlin Business Services reported fourth quarter and full year 2012 net income of $3.6 million and $11.7 million, respectively up 76.9% from $2.1 million and 89.4% from $6.2 million in the same periods in 2011.

Marlin said fourth quarter 2012 lease production was $87.8 million, up from $81.6 million for the third quarter of 2012 and 28% higher than the fourth quarter of 2011. Full year 2012 lease origination volume was $322.2 million, a 41% increase year-over-year.

Marlin noted there were 1,207 average monthly new business sources in Q4/12 compared to 911 in the same year-ago period. Individual lease counts of 6,500 in Q4/12 were up from 5,016 a year earlier and the number of sales reps increased from 93 to 114 year-over-year.

“There were many positive developments for our business in 2012,” says Daniel P. Dyer, Marlin’s co-founder and chief executive officer. “We delivered strong asset and profit growth and favorable credit quality performance, with a focus on delivering value-added credit products
and services to our customers,” says Dyer.

To read Marlin Business Services’ news release: click here.