Thrifts and Mortgage Finance
Company Overview of First National Financial Corporation
First National Financial Corporation, through its subsidiaries, engages in the origination, underwriting, and servicing of residential and commercial mortgages in Canada. The company originates and underwrites prime single family residential mortgages; conventional multi-unit residential and commercial mortgages; and Canada Mortgage and Housing Corporation-insured multi-unit residential mortgages on apartment buildings and long-term residential care facilities, as well as offers other mortgage origination services. It also provides mortgage servicing solutions. The company is headquartered in Toronto, Canada.
100 University Avenue
Toronto, ON M5J 1V6
Key Executives for First National Financial Corporation
Co-Founder, Chairman, Chief Executive Officer and President
Total Annual Compensation: $750.0K
Co-Founder, Executive Vice President, Secretary and Director
Total Annual Compensation: $750.0K
Chief Financial Officer
Total Annual Compensation: $313.7K
Senior Vice President of Commercial Mortgages
Total Annual Compensation: $350.0K
Senior Vice President of Residential Mortgages
Total Annual Compensation: $349.1K
Compensation as of Fiscal Year 2014.
First National Financial Corporation Key Developments
First National Financial Corporation Announces August Dividend, Payable on September 15, 2015
Aug 14 15
First National Financial Corporation announced its monthly dividend payment of $0.125 per common share for the period August 1 to August 31, 2015. The dividend will be payable on September 15, 2015 to shareholders of record at the close of business on August 31, 2015.
First National Financial Corporation Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 27 15
First National Financial Corporation announced consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's revenue was CAD 251.2 million compared with CAD 201.6 million a year ago. The increase was due primarily to higher revenues from the company's growing portfolio of securitized mortgages as well as a gain on financial instruments which increased revenue by CAD 15.9 million over last year. Income before income taxes was CAD 57.5 million compared with CAD 38.2 million a year ago. About CAD 15.9 million of the CAD 19.5 million year-over-year change was due to changes in the value of financial instruments primarily the result of the company's hedging practices. Pre-FMV EBITDA was CAD 52.0 million compared with CAD 48.4 million a year ago. The increase was due to higher net interest on securitized mortgages together with sustained growth in the company's placement business particularly with respect to deferred placement and mortgage renewal income. Net income up 51% to CAD 42.5 million or CAD 0.68 per common share compared to CAD 28.2 million or CAD 0.44 per common share in the 2014 second quarter.
For the quarter, the company's revenue was CAD 418.7 million compared with CAD 374.3 million a year ago. Income before income taxes was CAD 52.6 million compared with CAD 69.5 million a year ago. Pre-FMV EBITDA was CAD 90.5 million compared with CAD 89.8 million a year ago.
First National Financial Corporation Announces July 2015 Dividend, Payable on August 14, 2015
Jul 15 15
First National Financial Corporation announced its monthly dividend payment of $0.125 per common share for the period July 1 to July 31, 2015. The dividend will be payable on August 14, 2015 to shareholders of record at the close of business on July 31, 2015.
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