Company Release – 10/27/2016 16:30

Third Quarter Highlights:

  • Total third quarter origination volume of $128.3 million, a record for a single quarter and up 25.9% year-over-year
  • Total Funding Stream loan origination volume of $10.3 million, up 31.0% from the prior quarter and 4.6 times higher than a year ago
  • Net income of $4.3 million with EPS of $0.35 per share
  • ROE increased 15 basis points from prior year to 11.10%
  • Total new origination loan and lease yield of 11.69% decreased 9 basis points from prior quarter and increased 70 basis points year-over-year
  • Credit quality remained strong with 30+ and 60+ day delinquencies at 78 basis points and 45 basis points, respectively
    Investment in leases and loans (before deferred costs and loss allowance) ended the quarter at $756.1 million, an all-time record and up 15.1% year-over-year
  • Strong capital position with equity to assets ratio of 18.26%

MOUNT LAUREL, N.J., Oct. 27, 2016 (GLOBE NEWSWIRE) — Marlin Business Services Corp. (NASDAQ:MRLN) today reported third quarter 2016 net income of $4.3 million, or $0.35 per diluted share, compared to $4.8 million, or $0.38 per diluted share, for the third quarter last year. Included in Marlin’s third quarter 2016 net income are income tax charges of $0.1 million relating to a true-up of state tax apportionments along with $0.2 million of additional expenses related to the Company’s ‘Marlin 2.0’ initiative. Return on equity for the quarter was 11.10%, up from 10.95% a year ago.

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