Revenue during the quarter grew 15.61 percent to $21.59 million from $18.68 million in the previous year period. Net interest income for the quarter rose 10.41 percent over the prior year period to $21.72 million. Non-interest income for the quarter rose 80.69 percent over the last year period to $3.75 million.

Marlin Business Services Corp has made provision of $3.88 million for loan losses during the quarter, up 26.31 percent from $3.08 million in the same period last year.

Efficiency ratio for the quarter deteriorated to 76.79 percent from 58.23 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

“Our first quarter represented a great start to 2017 highlighted by strong origination volume, solid portfolio growth and good asset quality, along with excellent progress on our ‘Marlin 2.0’ initiative that we expect will help take the Company to the next level of growth and profitability,” said Jeffrey A. Hilzinger, Marlin’s President and Chief executive officer. “Total first quarter origination volume of $168.8 million increased 49% from a year ago and was 11% higher than the previous record established in the fourth quarter last year. During the quarter, we benefitted from continued strong customer demand for our Equipment Finance business, including meaningful contributions from the previously announced acquisition of Horizon Keystone Financial that we completed early in the first quarter. Funding Stream, our working capital loan business, continues to gain traction with $13.8 million, or 8.2%, of total first quarter originations. We also enjoyed solid growth from our Franchise and Transportation Finance businesses. In total, our Investment in Leases and Loans grew to a record $824.9 million, up 4% compared to the previous quarter and up almost 18% from a year ago. Importantly, our focus on maintaining disciplined underwriting standards continues to be a top priority and credit quality remained consistent with expectations.”

Investments stood at $4.98 million as on Mar. 31, 2017, down 66.55 percent or $9.91 million from year-ago. Shareholders equity stood at $162.64 million as on Mar. 31, 2017, up 6.67 percent or $10.17 million from year-ago.

Return on average assets moved down 121 basis points to 0.67 percent in the quarter from 1.88 percent in the last year period. At the same time, return on average equity decreased 596 basis points to 3.78 percent in the quarter from 9.74 percent in the last year period.