Type Public Industry Financial Services Number of employees 10,000 Founded 1912 | Traded as NYSE: OMF Key people Jay Levine Website OneMainFinancial.com | |
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Headquarters Evansville, Indiana, United States Parent organization OneMain Financial Holdings, Inc. Profiles | ||
Onemain financial review
OneMain Financial is one of the largest providers of personal installment loans in the United States with approximately 2.2 million customers and a nationwide branch network of more than 1,700 branches across 44 states. OneMain is headquartered in Evansville, Indiana, and has more than 10,000 employees.
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In March 2015, Springleaf Holdings, Inc. announced plans to acquire OneMain Financial from Citigroup for $4.25 billion. The acquisition was completed in November 2015 and the new company kept the name OneMain Financial. OneMain is currently traded on the NYSE under the ticker symbol “OMF” and is led by CEO Jay Levine.
History
In 1912, OneMain Financial was founded as Commercial Credit in Baltimore, Maryland to provide working capital to manufacturers and building contractors. After several acquisitions, the company became a part of Citicorp in 1998 and in 2011 the name was changed to OneMain Financial.
In 1920, Interstate Finance Corporation was founded in Evansville, Indiana to underwrite sales of Inland Motor Truck vehicles. After several acquisitions, the company became a part of AIG Group in 2001 and was later purchased by Fortress Investment Group in 2010. In 2011, the name was changed to Springleaf Financial Services, and in 2015, the company took the OneMain Financial name after the acquisition of OneMain from Citi.
In order to complete the acquisition of OneMain, the United States Department of Justice required the company to sell 127 branches and certain related assets to Lendmark Financial Services, LLC. The sale was completed in May 2016. The brand migration from Springleaf Financial to OneMain Financial was completed in October 2016.