0000899140-22-000810.txt : 20221129 0000899140-22-000810.hdr.sgml : 20221129 20221129171751 ACCESSION NUMBER: 0000899140-22-000810 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20221129 DATE AS OF CHANGE: 20221129 GROUP MEMBERS: BASSWOOD FINANCIAL FUND, LP GROUP MEMBERS: BASSWOOD FINANCIAL LONG ONLY FUND, LP GROUP MEMBERS: BASSWOOD OPPORTUNITY FUND, INC. GROUP MEMBERS: BASSWOOD OPPORTUNITY PARTNERS, LP GROUP MEMBERS: BASSWOOD PARTNERS, L.L.C. GROUP MEMBERS: BENNETT LINDENBAUM GROUP MEMBERS: JONATHAN D. BROWN GROUP MEMBERS: MATTHEW LINDENBAUM SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Regional Management Corp. CENTRAL INDEX KEY: 0001519401 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 570847115 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86802 FILM NUMBER: 221433638 BUSINESS ADDRESS: STREET 1: 979 BATESVILLE ROAD STREET 2: SUITE B CITY: GREER STATE: SC ZIP: 29651 BUSINESS PHONE: 864-448-7000 MAIL ADDRESS: STREET 1: 979 BATESVILLE ROAD STREET 2: SUITE B CITY: GREER STATE: SC ZIP: 29651 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BASSWOOD CAPITAL MANAGEMENT, L.L.C. CENTRAL INDEX KEY: 0001085393 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 645 MADISON AVENUE STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-521-9500 MAIL ADDRESS: STREET 1: 645 MADISON AVENUE STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: Basswood Capital Management LLC DATE OF NAME CHANGE: 20130814 FORMER COMPANY: FORMER CONFORMED NAME: BASSWOOD CAPITAL MANAGEMENT LLC DATE OF NAME CHANGE: 19990428 SC 13D/A 1 r112922a.htm SCHEDULE 13D/A (AMENDMENT NO. 3)

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
SCHEDULE 13D/A

Under the Securities Exchange Act of 1934
(Amendment No. 3)*

Regional Management Corp.
(Name of Issuer)


Common Stock, $0.10 Par Value
(Title of Class of Securities)

75902K106
(CUSIP Number)

Matthew Lindenbaum
Basswood Capital Management, L.L.C.
645 Madison Avenue, 10th Floor
New York, NY 10022
(212) 521-9500
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

(with a copy to)
Michael E. Brandt, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019
(212) 728-8000


November 11, 2022
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: ☒

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No.  75902K106
  
Page 2 of 13 Pages
1
NAME OF REPORTING PERSON
 
Basswood Capital Management, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
888,852 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
888,852 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
888,852 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.27%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA




CUSIP No.  75902K106
  
Page 3 of 13 Pages
1
NAME OF REPORTING PERSON
 
Basswood Partners, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
290,069 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
290,069 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
290,069 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.03%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO

CUSIP No.  75902K106
  
Page 4 of 13 Pages
1
NAME OF REPORTING PERSON
 
Basswood Financial Fund, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
72,575 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
72,575 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,575 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.76%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN


CUSIP No.  75902K106
  
Page 5 of 13 Pages
1
NAME OF REPORTING PERSON
 
Basswood Financial Long Only Fund, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
34,108 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
34,108 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,108 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.36%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN


CUSIP No. 75902K106
  
Page 6 of 13 Pages
1
NAME OF REPORTING PERSON
 
Basswood Opportunity Partners, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
183,386 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
183,386 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,386 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.91%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN

CUSIP No. 75902K106
  
Page 7 of 13 Pages
1
NAME OF REPORTING PERSON
 
Basswood Opportunity Fund, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
3,788 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
3,788 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,788 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.04%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO

CUSIP No.  75902K106
  
Page 8 of 13 Pages
1
NAME OF REPORTING PERSON
 
Jonathan D. Brown
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
17,789
8
SHARED VOTING POWER
0
9
SOLE DISPOSITIVE POWER
17,789
10
SHARED DISPOSITIVE POWER
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,789 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.19%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN


CUSIP No.  75902K106
  
Page 9 of 13 Pages
1
NAME OF REPORTING PERSON
 
Matthew Lindenbaum
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
888,852 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
888,852 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
888,852 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.27%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN/HC


CUSIP No.  75902K106
  
Page 10 of 13 Pages
1
NAME OF REPORTING PERSON
 
Bennett Lindenbaum
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                (a) ☐
(b) ☒
 
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ☐
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
888,852 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
888,852 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
888,852 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)                                                                                                                                      ☐
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.27%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN/HC




EXPLANATORY NOTE

Pursuant to Rule 13d-2 promulgated under the Act, this Amendment No. 3 to Schedule 13D (this “Amendment No. 3”) is being filed with respect to the common stock, $0.10 par value per share (the “Common Stock”), of Regional Management Corp., a Delaware corporation (the “Issuer”), to amend the Schedule 13D filed on December 15, 2017, as amended by Amendment No. 1 dated January 30, 2018, Amendment No. 2 dated August 16, 2022 and, as amended by this Amendment No. 3, the “Schedule 13D”).  Capitalized terms used herein but not otherwise defined have the meanings ascribed to such terms in the Original Schedule 13D.

Item 4.
Purpose of Transaction.

Item 4 of this Schedule 13D is hereby amended to include the following:

On November 28, 2022, Basswood Capital Management, L.L.C. (the “Management Company”) entered into an Amendment to the Cooperation Agreement with the Issuer (the “Cooperation Agreement Amendment”). Pursuant to the terms of the Cooperation Agreement Amendment, the number of "net long position" shares of Common Stock that must be beneficially owned by the Management Company and its affiliates to maintain the right to designate a member of the Board was amended from 874,705 shares of Common Stock to the lesser of 7.5% of the outstanding shares of Common Stock and 718,657 shares of Common Stock.  In addition, the Issuer confirmed that the Board will nominate Mr. Brown for election to the Board at the Issuer’s 2023 annual meeting of stockholders pursuant to the terms of the Cooperation Agreement.

The foregoing description of the Cooperation Agreement Amendment is qualified by the full text of such agreement, which is attached as an exhibit to this Amendment No. 3.

Item 5.       Interest in Securities of the Issuer.

Items 5(a) - 5(c) of this Schedule 13D is hereby amended to include the following:

(a) and (b). As of the date of this Amendment No. 3, each of the Reporting Persons beneficially owns shares of Common Stock in such numbers as set forth on the cover pages of this Schedule 13D.  The total number of shares each of the Reporting Persons beneficially owns represents such percentages as set forth on the cover pages to this Schedule 13D of the Common Stock outstanding.  The percentages used in this Schedule 13D are calculated based upon the approximately 9,585,782 shares of Common Stock outstanding as of September 30, 2022, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2022.

The Management Company, Matthew Lindenbaum and Bennett Lindenbaum share voting and dispositive power over the 888,852 shares of Common Stock held directly by the Funds and the managed accounts. Basswood Partners, the Management Company, Matthew Lindenbaum and Bennett Lindenbaum share voting and dispositive power over the 290,069 shares of Common Stock held directly by Basswood Financial Fund, LP, Basswood Financial Long Only Fund, LP and Basswood Opportunity Partners, LP.

By virtue of the relationships among the Reporting Persons, as described in this Schedule 13D, the Reporting Persons may be deemed to be a “group” under the Federal securities laws. If the Reporting Persons were deemed to be such a “group,” such group would collectively beneficially own 906,641 shares of Common Stock or 9.46% of Common Stock outstanding on the date of this Amendment No. 3. Each of the Reporting Persons disclaims voting and investment power over shares of the Common Stock, except as set forth on the cover pages of this Schedule 13D, beneficially owned by each other Reporting Person and the filing of this Statement shall not be construed as an admission, for the purposes of Sections 13(d) and 13(g) or under any provision of the Exchange Act or the rules promulgated thereunder or for any other purpose, that any such person is a beneficial owner of any shares as to which it disclaims voting and dispositive power.

(c) Schedule I hereto sets forth all transactions with respect to the Common Stock effected by the Reporting Persons during the past 60 days.  All such transactions were effected in the open market, and per share prices include any commissions paid in connection with such transactions.

Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 6 of this Schedule 13D is hereby amended to include the following:

Item 4 of this Amendment No. 3 is incorporated by reference herein.

Item 7.      Material to be filed as Exhibits.

Item 7 of this Schedule 13D is hereby amended to include the following:
Exhibit 99.4 – Amendment to Cooperation Agreement, dated November 28, 2022, by and between Basswood Capital Management, L.L.C. and Regional Management Corp. (incorporated by reference to Exhibit 10.3 to the Issuer’s Current Report on Form 8-K filed November 28, 2022)
SIGNATURES

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned, severally and not jointly, certifies that the information set forth in this statement is true, complete and correct.



Dated: November 29, 2022
BASSWOOD CAPITAL MANAGEMENT, L.L.C.
     
     
 
By: /s/ Matthew Lindenbaum                        
   
Name: Matthew Lindenbaum
   
Title: Managing Member
     
     
     
Dated: November 29, 2022
BASSWOOD PARTNERS, L.L.C.
     
     
 
By: /s/ Matthew Lindenbaum                        
   
Name: Matthew Lindenbaum
   
Title: Managing Member
     
     
     
Dated: November 29, 2022
BASSWOOD FINANCIAL FUND, LP
 
   By: Basswood Capital Management, L.L.C.
     
     
 
By: /s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
     
     
     
Dated: November 29, 2022
BASSWOOD FINANCIAL LONG ONLY FUND, LP
 
   By: Basswood Capital Management, L.L.C.
     
     
 
By: /s/ Matthew Lindenbaum                        
   
Name: Matthew Lindenbaum
   
Title: Managing Member
     
     
     

Dated: November 29, 2022
BASSWOOD OPPORTUNITY PARTNERS, LP
 
   By: Basswood Capital Management, L.L.C.
     
     
 
By: /s/ Matthew Lindenbaum                                 
   
Name: Matthew Lindenbaum
   
Title: Managing Member
     
     
     
Dated: November 29, 2022
BASSWOOD OPPORTUNITY FUND, INC.
 
   By: Basswood Capital Management, L.L.C.
     
     
 
By: /s/ Matthew Lindenbaum                                 
   
Name: Matthew Lindenbaum
   
Title: Managing Member
     
     
     
Dated: November 29, 2022
/s/ Jonathan D. Brown                                   
 
Jonathan D. Brown
     
     
     
Dated: November 29, 2022
/s/ Matthew Lindenbaum                             
 
Matthew Lindenbaum
     
     
Dated: November 29, 2022
/s/ Bennett Lindenbaum                               
 
Bennett Lindenbaum


Schedule I


Fund
Trade Date
Shares Purchased (Sold)
Price
Basswood Managed Account
11/08/22
(4,189)
$28.75
Basswood Managed Account
11/08/22
(15,236)
$28.75
Basswood Managed Account
11/08/22
(805)
$28.75
Basswood Managed Account
11/08/22
(8,905)
$28.75
Basswood Managed Account
11/10/22
(862)
$32.02
Basswood Managed Account
11/10/22
(3,138)
$32.02
Basswood Managed Account
11/10/22
(166)
$32.02
Basswood Managed Account
11/10/22
(1,834)
$32.02
Basswood Managed Account
11/11/22
(1,606)
$31.63
Basswood Managed Account
11/11/22
(5,843)
$31.63
Basswood Managed Account
11/11/22
(309)
$31.63
Basswood Managed Account
11/11/22
(3,414)
$31.63
Basswood Managed Account
11/14/22
(751)
$31.00
Basswood Managed Account
11/14/22
(2,729)
$31.00
Basswood Managed Account
11/14/22
(144)
$31.00
Basswood Managed Account
11/14/22
(1,595)
$31.00
Basswood Managed Account
11/15/22
(453)
$30.38
Basswood Managed Account
11/15/22
(1,646)
$30.38
Basswood Managed Account
11/15/22
(87)
$30.38
Basswood Managed Account
11/15/22
(962)
$30.38
Basswood Managed Account
11/17/22
(9,071)
$28.58
Basswood Managed Account
11/17/22
(32,996)
$28.58
Basswood Managed Account
11/17/22
(1,743)
$28.58
Basswood Managed Account
11/17/22
(19,283)
$28.58
Basswood Managed Account
11/22/22
(144)
$29.59
Basswood Managed Account
11/22/22
(523)
$29.59
Basswood Managed Account
11/22/22
(27)
$29.59
Basswood Managed Account
11/22/22
(306)
$29.59
Basswood Managed Account
11/23/22
(1,935)
$29.51
Basswood Managed Account
11/23/22
(7,036)
$29.51
Basswood Managed Account
11/23/22
(372)
$29.51
Basswood Managed Account
11/23/22
(4,112)
$29.51
Basswood Financial Fund, LP
11/25/22
911
$29.53
Basswood Financial Long Only Fund LP
11/25/22
170
$29.53
Basswood Opportunity Fund, Inc.
11/25/22
374
$29.53
Basswood Managed Account
11/25/22
(173)
$29.56
Basswood Managed Account
11/25/22
3,579
$29.53
Basswood Managed Account
11/25/22
(628)
$29.56
Basswood Managed Account
11/25/22
(33)
$29.56
Basswood Managed Account
11/25/22
(367)
$29.56
Basswood Financial Fund, LP
11/28/22
308
$29.25
Basswood Financial Long Only Fund LP
11/28/22
58
$29.25
Basswood Opportunity Fund, Inc.
11/28/22
126
$29.25
Basswood Managed Account
11/28/22
(841)
$29.28
Basswood Managed Account
11/28/22
1,211
$29.25
Basswood Managed Account
11/28/22
(3,065)
$29.28
Basswood Managed Account
11/28/22
(148)
$29.28
Basswood Managed Account
11/28/22
(1,638)
$29.28
EX-99.4 2 br112922b.htm EXHIBIT 99.4

Regional Management Corp .
979 Batesville Road, Suite B
Greer, South Carolina 29651
www.regionalmanagement .com


November 28, 2022


Basswood Capital Management, L.L.C.
645 Madison Avenue, 10th Floor
New York, NY 10022
Via Email: jcanninzzaro@bassw ood .com

Dear Justin:

Reference is made to that certain Cooperation Agreement, dated as of January 26, 2018 (the "Agreement"), by and between Basswood Capital Management, L.L.C. ("Basswood") and Regional Management Corp. (the "Company" ). Terms capitalized herein and not otherwise defined herein shall have their meanings set forth in the Agreement.

The Company and Basswood hereby agree that :

1.
For purposes of Section 1. (e) of the Agreement, the definition in the second sentence therein of "Minimum Ownership Threshold" should be deleted therefrom in its entirety and the following sentence should be substituted in replacement thereof:

The term "Minimum Ownership Threshold" shall mean an aggregate Net Long Position of the lesser of 7.5% of the outstanding shares of Common Stock and 718,657 shares of Common Stock.

2.
For purposes of Section 2. (e) (iv) of the Agreement and the definition therein of the Standstill Period, by entering into this Letter Agreement, the Company will be deemed to have provided writt en notice to Basswood that it will nominate Jonathan D. Brown for election to the Board at the 2023 annual stockholders meeting and Basswood will be deemed to have agreed in advance to such nomination.

3.
Except as otherwise modified or amended herein, the terms and provisions of the Agreement should continue in full force and effect.

Please acknowledge your acceptance hereof and agreement herewith by executing and returning the enclosed copy of this Letter Agreement.

Very truly yours,

Regional Management Corp.


By: /s/ Catherine R. Atwood
Catherine R. Atwood
SVP, General Counsel, and Secretary

ACCEPTED AND AGREED
Basswood Capital Management L.P.
/s/ Matthew Lindenbaum
Matthew Lindenbaum
Principal
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