OneMain Holdings Reports Major Loss

The company acquired OneMain Financial Holdings LLC in fourth quarter 2015.

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Evansville-based OneMain Holdings Inc. (NYSE: OMF) is reporting a net loss of $242 million in 2015, compared with net income of $505 million the previous year. The company, formerly known as Springleaf Holdings Inc., acquired OneMain Financial Holdings LLC in late-2015.

The company is also reporting a net loss of $219 in fourth quarter 2015, compared with a loss of $46 million during the same period the previous year.

"The new OneMain has the potential to drive strong overall returns through greater scale and enhanced credit performance," Jay Levine, president and CEO of OneMain Holdings. "2015 was a very successful year for us as we met or exceeded all of the company’s performance goals, and we are well-positioned for continued success in 2016 as we execute on the very significant opportunities presented by the combination of the former Springleaf and OneMain."

The $4.5 billion acquisition led to OneMain Holdings having control of more than 1,800 branches in 43 states. The the newly-merged company will soon be headquartered in Connecticut. The company said in November it plans to keep a significant presence in Evansville.