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Last $2.46 USD
Change Today +0.03 / 1.23%
Volume 18.0K
FAC On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

first acceptance corp (FAC) Snapshot

Open
$2.44
Previous Close
$2.43
Day High
$2.46
Day Low
$2.41
52 Week High
09/15/14 - $2.80
52 Week Low
04/28/14 - $2.09
Market Cap
100.9M
Average Volume 10 Days
9.5K
EPS TTM
$0.67
Shares Outstanding
41.0M
EX-Date
06/14/02
P/E TM
3.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for FIRST ACCEPTANCE CORP (FAC)

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first acceptance corp (FAC) Details

First Acceptance Corporation, through its subsidiaries, is engaged in selling, servicing, and underwriting non-standard personal automobile insurance policies and related products in the United States. The company operates in two segments, Insurance, and Real Estate and Corporate. It issues automobile insurance policies to individuals who are categorized as non-standard based primarily on their inability or unwillingness to obtain insurance coverage from standard carriers due to various factors, including their payment history or need for monthly payment plans, failure to maintain continuous insurance coverage, or driving record. The company also offers optional products that provide ancillary reimbursements and benefits in the event of an automobile accident, including products that provide reimbursements for medical expenses and hospital stays as a result of injuries sustained in an automobile accident, automobile towing and rental, bail bond premiums, and ambulance services; and underwrites a tenant homeowner policy that provides contents and liability coverage to customers who are renters. In addition, it is engaged in the disposition of real estate held for sale. The company markets its products under the Acceptance Insurance, Yale Insurance, and Insurance Plus names. First Acceptance Corporation primarily distributes its products through its retail locations, as well as through call centers and Internet. As of March 4, 2014, it leased and operated 356 retail locations. The company was founded in 1969 and is headquartered in Nashville, Tennessee.

1,100 Employees
Last Reported Date: 03/10/15
Founded in 1969

first acceptance corp (FAC) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $570.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $148.6K
Senior Vice President of Operations
Total Annual Compensation: $360.0K
Vice President, Treasurer and Secretary
Total Annual Compensation: $224.9K
Compensation as of Fiscal Year 2013.

first acceptance corp (FAC) Key Developments

First Acceptance Corp. Reports Financial Results for the Quarter and Year Ended December 31, 2014

First Acceptance Corp. reported financial results for the quarter and year ended December 31, 2014. Income before income taxes for the three months ended December 31, 2014 was $3.1 million, compared with income before income taxes of $3.4 million for the three months ended December 31, 2013. Net income for the three months ended December 31, 2014 was $22.0 million, or $0.53 per share on a diluted basis, compared with net income of $3.2 million, or $0.07 per share on a diluted basis, for the three months ended December 31, 2013. The provision (benefit) for income taxes for the three months ended December 31, 2014 includes a decrease in the valuation allowance for the deferred tax asset of $20.2 million. Revenues for the three months ended December 31, 2014 were $67.9 million, compared with $59.2 million for the three months ended December 31, 2013. Income before income taxes for the year ended December 31, 2014 was $9.7 million, compared with income before income taxes of $9.8 million for the year ended December 31, 2013. Net income for the year ended December 31, 2014 was $28.1 million, or $0.68 per share on a diluted basis, compared with net income of $9.2 million, or $0.22 per share on a diluted basis, for the year ended December 31, 2013. The provision (benefit) for income taxes for the year ended December 31, 2014 includes a decrease in the valuation allowance for the deferred tax asset of $22.4 million. Revenues for the year ended December 31, 2014 were $263.2 million, compared with $240.5 million for the year ended December 31, 2013.

First Acceptance Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

First Acceptance Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, premiums earned were $54,369,000 against $49,467,000 a year ago. Net income before income taxes was $2,377,000 compared with $2,096,000 a year ago. Net income was $2,120,000 compared with $1,932,000 a year ago. Diluted net income per share were $0.05 compared with $0.05 a year ago. For the nine months, the company reported, premiums earned were $161,971,000 against $150,988,000 a year ago. Net income before income taxes was $6,647,000 compared with $6,467,000 a year ago. Net income was $6,100,000 compared with $6,022,000 a year ago. Diluted net income per share were $0.15 compared with $0.15 a year ago.

First Acceptance Corp. Announces Executive Changes, Effective September 30, 2014

First Acceptance Corporation announced that it has promoted Joseph S. Borbely to Chief Executive Officer effective September 30. Borbely also will retain his current position as President. Borbely was brought on as Senior Vice President of Sales and Marketing in July 2011 by current Chief Executive Officer, Mark A. Kelly and spearheaded the company's transformation into a multi-channel leader in non-standard auto insurance. Kelly will remain a member of the Board of Directors and resume his former duties with the private equity activities of Gerald J. Ford, the company's principal stockholder. Mark A. Kelly, the company's current Chief Executive Officer until September 30, 2014, will remain as a director of the company.

 

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Affirmative Insurance Holdings Inc $0.95 USD 0.00
Berkshire Hathaway Inc $217,000 USD +760.09
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Industry Analysis

FAC

Industry Average

Valuation FAC Industry Range
Price/Earnings 3.6x
Price/Sales 0.4x
Price/Book 0.9x
Price/Cash Flow 3.4x
TEV/Sales NM Not Meaningful
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