July 23, 2016 7:36 AM ET

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Company Overview of Automotive Finance Corporation

Company Overview

Automotive Finance Corporation provides financial and business solutions to independent automotive dealers. It offers floorplan products, such as power sports inventory, salvage, recreational vehicles inventory, and rental/fleet finance, as well as automotive floorplans and commercial truck products. Automotive Finance Corporation was formerly known as CITA, Inc. and changed its name to Automotive Finance Corporation in December 1993. The company was founded in 1987 and is based in Indianapolis, Indiana with branch office locations throughout the United States and Canada. Automotive Finance Corporation operates as a subsidiary of ADESA, Inc.

2950 East Main Street

Plainfield

Indianapolis, IN 46168

United States

Founded in 1987

Phone:

317-838-8022

Fax:

866-550-5439

Key Executives for Automotive Finance Corporation

Chief Executive Officer and President
Age: 45
Chief Financial Officer, Principal Accounting Officer, Treasurer and Controller
Senior Vice President of Operations
Director, Chairman of KAR Holdings Inc and Chief Executive Officer of KAR Holdings Inc
Age: 56
Chief Executive Officer of Adesa Inc, President of Adesa Inc and Director of Adesa Inc
Age: 56
Compensation as of Fiscal Year 2016.

Automotive Finance Corporation Key Developments

Automotive Finance Corporation Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Automotive Finance Corporation announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income of $29.6 million compared to $22.3 million a year ago. EBITDA was $80.2 million compared to $68.3 million a year ago. Adjusted EBITDA was $85.9 million compared to $73.9 million a year ago. Operating profit was $34.4 million compared to $31.0 million a year ago. For the nine months, the company reported net income of $84.1 million compared to $50.3 million a year ago. EBITDA was $234.3 million compared to $149.8 million a year ago. Adjusted EBITDA was $216.1 million compared to $148.5 million a year ago. Operating profit was $98.0 million compared to $87.6 million a year ago.

Automotive Finance Corporation Promotes Johnny Shroyer to Vice President of Operations, West Division, Effective March 2, 2015

Automotive Finance Corporation (AFC) announced that Johnny Shroyer has been promoted to vice president of operations, west division. Shroyer will report directly to Joe Keadle, senior vice president of operations. Shroyer joined AFC in 2010 as regional manager and will begin in his new role on March 2, 2015 with responsibilities for managing, directing and coordinating all AFC field operations in the west division. With more than 20 years of experience, Shroyer brings a wealth of knowledge and insight to the table gleaned from a wide variety of positions in the financial services and automotive industries. Prior to joining AFC, Shroyer was with Reynolds and Reynolds, HSBC Bank of North America and Capital One Auto Finance.

Automotive Finance Corporation Promotes Joe Keadle to Senior Vice President of Operations

Automotive Finance Corporation announced that Joe Keadle has been promoted to senior vice president of operations. Keadle will report directly to John Hammer, AFC CEO and president. In his new role, Keadle will oversee all field operational functions including branch operations, sales and training. He will focus on developing, leading and coordinating AFC field operations while assuring the standardization of all operating practices and procedures and will be instrumental in leading AFC's growth initiatives.

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