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April 26, 2015 7:32 PM ET

Thrifts and Mortgage Finance

Company Overview of First National Financial Corporation

Company Overview

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

Suite 700

North Tower

Toronto, ON M5J 1V6

Canada

770 Employees

Phone:

416-593-1100

Fax:

416-593-1900

Key Executives for First National Financial Corporation

Chairman, Chief Executive Officer and President
Total Annual Compensation: $750.0K
Chief Financial Officer
Total Annual Compensation: $313.7K
Executive Vice President, Secretary and Director
Total Annual Compensation: $750.0K
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 Dividend for the Month of April 2015, Payable on May 15, 2015

First National Financial Corporation announced its monthly dividend payment of $0.125 per common share for the period April 1 to April 30, 2015. The dividend will be payable on May 15, 2015 to shareholders of record at the close of business on April 30, 2015.

First National Financial Corporation Issues $175 Million of 5-Year Unsecured Notes

First National Financial Corporation announced it has issued $175,000,000 of new senior unsecured notes. Priced at $99.96 each, the notes were issued pursuant to a private placement under an offering memorandum for a five-year term maturing on April 9, 2020. The notes bear interest at 4.01% payable in equal semi-annual payments commencing October 9, 2015. The net proceeds of the issuance will be invested in First National Financial LP which in turn will repay a portion of the outstanding amount drawn on its bank credit facility. On May 7, 2015, the LP plans to draw on the bank credit facility to repay the company's maturing 5.07% $175,000,000 debentures.

First National Financial Corporation Announces Common Share Dividend for the Month of March 2015 and Preference Shares Dividend for the Period January 1 to March 31, 2015, Payable on April 15, 2015

First National Financial Corporation announced its monthly dividend payment of $0.125 per common share for the period March 1 to March 31, 2015. The dividend will be payable on April 15, 2015 to shareholders of record at the close of business on March 31, 2015. The Company also announced its quarterly dividend on its 4.65% Class A Preference Shares for the period January 1 to March 31, 2015. The dividend of $0.290625 per share will be payable on April 15, 2015 to holders of record at the close of business on March 31, 2015.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
April 9, 2015
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