Brooke Credit Corporation Announces September Loan Origination Results.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 preliminary loan origination 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. results for September of 2007. Loan origination results are being released prior to the regularly scheduled full monthly results press release in advance of investor meetings scheduled throughout October. Brooke Credit plans to issue its regularly scheduled monthly results press release for September 2007 results on October 31, 2007. As of September 30, 2007, loan portfolio balances totaled approximately $642.9 million, compared to approximately $607.7 million on August 31, 2007. The Company's loan portfolio balances were positively impacted by September loan originations of approximately $50.5 million, and offset by September principal payments of approximately $15.3 million. September originations included $7.1 million in Brooke franchise insurance agency loans, $38.8 million in non-franchise insurance agency loans and $4.6 million in non-franchise death care loans. For the nine months ended September 30, 2007, the Company originated $244.7 million in new loans as compared to $200.6 in new loan originations during the comparable period in 2006. Loan originations during 2007 have increased approximately 22% as compared to the comparable period in 2006. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. loan originations during 2007 are comprised of $106.2 million in Brooke franchise insurance agency loans, $107.6 million in non-franchise insurance agency loans and $30.9 million in non-franchise death care loans, as compared to loan originations during the comparable period during 2006 being comprised of $105.6 million in Brooke franchise insurance agency loans, $66.9 million in non-franchise insurance agency loans and $28.1 million in non-franchise death care loans. For the twelve months ended September 30, 2007, loan portfolio balances have increased $230.4 million or approximately 56% to $642.9 million as compared to loan portfolio balances of $412.5 million on September 30, 2006. The Company's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael Lowry
Michael Lowry (Irish: Micheál Ó Labhraí; born 13 March, 1953) is an Irish politician. Michael Lowry was born in County Tipperary. , stated, "I continue to be pleased with the momentum that Brooke Credit is achieving in its lending activities and the continued diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. within our loan portfolio. I would like to express a special thanks to Brooke Credit's employees, loan sourcing partners and our funding partners." Mr. Lowry also noted, "Small business owners within the insurance and death care industries have been historically underserved and overlooked by traditional lenders. The Brooke Credit team is proud to be a strong supporter of this underserved sector and to play a significant part in making business ownership a reality for our entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. customers." 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. . Results are preliminary and are subject to change after all data is internally reviewed. Results have not been reviewed or audited by the Company's independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. . 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 $642.9 million on September 30, 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 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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