# EDGAR Filing Document

**Accession Number:** 0001101215
**File Stem:** 0001101215-23-000009
**Filing Date:** 2023-1
**Character Count:** 12158
**Document Hash:** 7205449b54a290fca3aaa31ad82d61f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001101215-23-000009.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001101215-23-000009

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BREAD FINANCIAL HOLDINGS, INC.
- **CENTRAL INDEX KEY:** 0001101215
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 311429215
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-15749
- **FILM NUMBER:** 23553895

**BUSINESS ADDRESS:**
- **STREET 1:** 3095 LOYALTY CIRCLE
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43219
- **BUSINESS PHONE:** 6147294000

**MAIL ADDRESS:**
- **STREET 1:** 3095 LOYALTY CIRCLE
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43219

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLIANCE DATA SYSTEMS CORP
- **DATE OF NAME CHANGE:** 19991217

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#### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

#### FORM 8-K

#### CURRENT REPORT

#### PURSUANT TO SECTION 13 OR 15(d) OF THE

#### SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):

#### January 26, 2023
![graphic](image00001.jpg)

### BREAD FINANCIAL HOLDINGS, INC.
(Exact Name of Registrant as Specified in Charter)

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| | | |
|:---|:---|:---|
| **Delaware**<br>| **001-15749**<br>| **31-1429215**<br>|
| (State or Other Jurisdiction | (Commission | (IRS Employer |
| of Incorporation) | File Number) | Identification No.) |

---

#### 3095 LOYALTY CIRCLE

#### COLUMBUS, Ohio 43219
(Address and Zip Code of Principal Executive Offices)

(614) 729-4000

(Registrant's Telephone Number, including Area Code)

#### NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| <u>Title of each class</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, par value $0.01 per share<br> BFH<br>| NYSE<br>|

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

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#### Item 7.01 Regulation FD Disclosure.
On January 26, 2023, Bread Financial Holdings, Inc. issued a press release providing a performance update as of and for the period ended December 31, 2022. A copy of this press release is attached hereto as Exhibit 99.1.

#### Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

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| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Document Description</u>** |
| [99.1](exhibit_99-1.htm) | Press release dated January 26, 2023 providing a performance update as of and for the period ended December 31, 2022. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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The information contained in this report (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | Bread Financial Holdings, Inc. | Bread Financial Holdings, Inc. |
| Date: January 26, 2023 | By: | <u>/s/ Joseph L. Motes III</u> |
|  |  | Joseph L. Motes III |
|  |  | Executive Vice President, Chief<br> Administrative Officer, General<br> Counsel and Secretary |

---

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## Exhibit 99.1

#### Exhibit 99.1

![](image0.jpg)

#### BREAD FINANCIAL PROVIDES

#### PERFORMANCE UPDATE FOR DECEMBER 2022

**COLUMBUS, Ohio, January 26, 2023 –** Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company providing simple, personalized payment, lending and saving solutions, provided a performance update. The following tables present the Company's net loss rate and delinquency rate for the periods indicated.

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| | | |
|:---|:---|:---|
|  | **For the**<br> **month ended**<br> **December 31, 2022<sup>(1)</sup>** | **For the three**<br> **months ended**<br> **December 31, 2022<sup>(1)(2)</sup>** |
|  | (dollars in millions) | (dollars in millions) |
|  End-of-period credit card and other loans  | $21364 | $21364 |
|  Average credit card and other loans  | $20541 | $19820 |
|  Year-over-year change in average credit card and other loans  | 23% | 23% |
|  Net principal losses  | $114 | $312 |
|  Net loss rate  | 6.7% | 6.3% |

---

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| | | |
|:---|:---|:---|
|  | **As of**<br> **December 31, 2022<sup>(1)</sup>** | **As of**<br> **December 31, 2021** |
|  | (dollars in millions) | (dollars in millions) |
|  30 days + delinquencies – principal  | $1112 | $647 |
|  Period ended credit card and other loans – principal  | $20107 | $16590 |
|  Delinquency rate  | 5.5% | 3.9% |

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<sup>(1)</sup> As previously communicated, the month and three months ended December 31, 2022 Net principal losses, Net loss rate, 30 days + delinquencies – principal, and Delinquency rate were impacted by the transition of our credit card processing services.

<sup>(2)</sup> Results for the three months ended December 31, 2022 include the effects of our acquisition of the AAA credit card portfolio in October 2022.

**About Bread Financial**<sup>™</sup>

**Bread Financial**<sup>TM</sup> (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive product suite, including private label and co-brand credit cards, installment lending, and buy now, pay later (BNPL). Bread Financial also offers direct-to-consumer solutions that give customers more access, choice and freedom through its branded **Bread Cashback**<sup>TM</sup> **American Express**<sup>®</sup> **Credit Card** and **Bread Savings**<sup>TM</sup> products.

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Bread Financial Holdings, Inc.

January 26, 2023

#### Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as "believe," "expect," "anticipate," "estimate," "intend," "project," "plan," "likely," "may," "should" or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, rising interest rates, unemployment levels and the increased probability of a recession, and the related impact on consumer payment rates, savings rates and other behavior; global political and public health events and conditions, including the ongoing war in Ukraine and the continuing effects of the global COVID-19 pandemic; future credit performance, including the level of future delinquency and write-off rates; the loss of, or reduction in demand from, significant brand partners or customers in the highly competitive markets in which we compete; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives, including the spinoff of our former LoyaltyOne<sup>®</sup> segment; our level of indebtedness and ability to access financial or capital markets; pending and future legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; and failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Additional information will also be set forth in our Annual Report on Form 10-K for the year ended December 31, 2022. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

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| | |
|:---|:---|
| **Contact:** | **<u>Investors/Analysts</u>** |
|  | Brian Vereb |
|  | Bread Financial |
|  | <u>Brian.Vereb@BreadFinancial.com</u> |
|  | **<u>Media</u>** |
|  | Shelley Whiddon |
|  | Bread Financial |
|  | <u>Shelley.Whiddon@BreadFinancial.com</u> |

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