Marlin YTD Net Income Up 13%; Q3 Volume Off 4% Y/Y



Marlin Business Services reported Q3/14 net income of $4.9 million, up 5.0% compared to $4.7 million for Q3/13. Year-to-date net income of $14.5 million was up 13% compared to $12.8 million for the same period a year earlier. Net interest and fee income for Q3/14 and YTD was $19.3 million and $57.6 million, respectively up from $18.7 million and $53.4 million for the same year-ago periods.

Highlights from the report included:

  • Origination volume was $82.5 million, down from $88.9 million sequentially and $86.1 million in Q3/13. Third quarter origination volume was impacted by seasonal trends along with slack customer demand and slightly lower approval rates.
  • Reflective of the current competitive low interest rate environment, the yield on new originations for the quarter was 11.06% compared to 11.35% sequentially and 11.86% in Q3/13.
  • Net interest and fee margin of 12.71% is up 5 basis points sequentially and down from 13.44% a year earlier.
  • The company’s cost of funds remained stable at 82 basis points, compared to 81 basis points for Q2/14. Cost of funds for Q3/13 was 75 basis points.

“We reported a solid earnings quarter,” said Daniel P. Dyer, co-founder and CEO. “Our disciplined operating model continues to deliver profitable growth and attractive returns on capital. We remain well positioned to grow our core business and we are excited to launch our Franchise Finance Group.”

To view the full Marlin Business Services news release, click here.


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