Brooke Credit Corporation Announces Selected Results for August 2007.OVERLAND PARK Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Kan. -- Brooke Credit Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BRCR BRCR Brices Cross Roads National Battlefield Site (US National Park Service) ; BRCRW; BRCRU) today announced selected results for the month of August 2007. As of August 31, 2007, loan portfolio balances totaled approximately $607.7 million, compared to approximately $595.7 million on July 31, 2007. The Company's loan portfolio balances were positively impacted by August loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. of approximately $22.5 million, and offset by August principal payments of approximately $10.5 million. August originations included $7.0 million in Brooke franchise insurance agency loans, $8.9 million in non-franchise insurance agency loans and $6.6 million in non-franchise death care loans. As of August 31, 2007, the Company's total loan portfolio was composed of approximately $84.6 million in loan balances held in the Company's inventory for future sale, and approximately $523.1 million in loan balances sold to investors with retained interest Retained interest (also colloquially known as a payout penalty) is future, currently unpaid, interest that some lenders add to the remaining principal of a loan to determine a payout figure in the event that the loan is terminated before the completion of the original term. . Brooke Credit also announced that during July, the Company received net interest and servicing income of approximately $2.2 million, and incurred operating interest expense of approximately $103,000. Additionally, during August Brooke Credit realized a gain on loan sale activities of approximately $1.1 million. All results included within this news release exclude portfolio balances and revenues derived from lending activities with Brooke Corporation and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . Brooke Corporation is Brooke Credit's largest shareholder, owning approximately 62 percent of Brooke Credit. About the Company... Brooke Credit is a specialty finance company that originates loans to insurance agencies and related businesses. Brooke Credit's loan portfolio balances totaled approximately $607.7 million on August 31, 2007. Loans have been mostly sold as individual loans to participating lenders or as pooled loans to investors through asset-backed securitizations. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . All forward-looking statements involve risks and uncertainties, and several factors could cause actual results to differ materially from those in the forward-looking statements. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: the uncertainty that the Company will achieve its short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. profitability and growth goals, uncertainties associated with market acceptance of and demand for the Company's products and services, the impact of competitive products and pricing, the dependence on third-party suppliers and their pricing, its ability to meet product demand, the availability of funding sources, the exposure to market risks, uncertainties associated with the development of technology, changes in the law and in economic, political and regulatory environments, changes in management, the dependence on intellectual property rights, the effectiveness of internal controls, and risks and factors described from time to time in reports and registration statements filed by the Company with the Securities and Exchange Commission. A more complete description of the Company's business is provided in the Company's reports and registration statements, which are available from the Company without charge or at www.sec.gov. |
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