- Net income for the three months ended March 31, 2015 rose 31.5%
- Total assets increased to a company-record $488.01 million at March 31, 2015
- Total deposits grew to a record $438.81 million at March 31, 2015
- The company continued to demonstrate strong asset quality, including a 0.51% ratio of nonperforming loans to total loans and a decline in the dollar amount of total nonperforming loans even as the company's portfolio of loans grew.
- Book value per share increased to $10.60 at March 31, 2015 compared with $9.31 at March 31, 2014
- In the fourth quarter 2014, the company purchased a bank facility in Harrisonburg, Virginia, with plans to open a full-service branch in third quarter 2015
A few of the positives;
- Non-performing assets to total assets decreased to 0.75% from 1.00% at December 31, 2014
- Tangible book value per share was $8.96 at March 31, 2015, compared to $8.29 at March 31, 2014. An increase of 8.1% Y/Y.
- During the first quarter of 2015, the Company repurchased 28,588 shares for a total of $244,000 - comes to $8.53 per share, very good value.
Stated back in December that I was surprised there wasn't more people latching on to this company and posting here, especially when message boards for other BDCs (not of the quality of MRCC) are quite active.