Brooke Credit Corporation Announces Selected Results for June 2005
July 15 2005 - 10:26AM
PR Newswire (US)
Brooke Credit Corporation Announces Selected Results for June 2005
OVERLAND PARK, Kan., July 15 /PRNewswire-FirstCall/ -- Michael
Lowry, President of Brooke Credit Corporation, the finance
subsidiary of Brooke Corporation (NASDAQ:BXXX), announced selected
June 2005 results. Lowry announced that loan portfolio balances for
Brooke Credit Corporation on June 30, 2005, totaled approximately
$232,000,000, as compared to loan portfolio balances of
approximately $220,000,000 on May 31, 2005, and approximately
$208,000,000 on April 30, 2005. Lowry also announced that, during
June, Brooke Credit Corporation received net interest and servicing
income of approximately $709,000 and incurred operating interest
expense of approximately $104,000. To help put these June results
into perspective, Lowry noted that, during the preceding 12 months,
the monthly average of net interest and servicing income totaled
approximately $591,000 and the monthly average of operating
interest expense totaled approximately $90,000. Lowry also
announced that, during June, Brooke Credit Corporation incurred a
gain on loan sale activities of approximately $384,000. To help
observers put the June gain on loan sale revenues into perspective,
Lowry noted that, during the preceding 12 months, the monthly
average of gain on loan sale revenues totaled approximately
$312,000. All results included within this press release exclude
portfolio balances and revenues derived from lending activities
with parent and sister companies. About our company ... Brooke
Credit Corporation is a subsidiary of Brooke Corporation
(NASDAQ:BXXX) that originates loans to insurance agencies,
financial services practices, funeral homes and other local
businesses, including Brooke franchises. Brooke Credit's loan
portfolio balances totaled approximately $232,000,000 on June 30,
2005. Loans have been mostly sold as individual loans to
participating lenders or as pooled loans to investors through
asset-backed securitizations. The Brooke organization was founded
on the belief that local business owners distribute insurance and
financial services more efficiently than others if supported by a
franchise system. Email Distribution ... If you would like to
receive electronic press release information then please visit the
"Investor Relations" section of Brooke Corporation's website at
http://www.brookecorp.com/ and subscribe to our "Email Alerts"
on-line. This press release may contain forward-looking statements.
Investors are cautioned that 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 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
Brooke Corporation with the Securities and Exchange Commission.
Investors are directed to Brooke Corporation's most recent annual,
quarterly and current reports, which are available from Brooke
Corporation without charge or at http://www.sec.gov/ , for a more
complete description of Brooke's business. DATASOURCE: Brooke
Corporation CONTACT: Anita Larson of Brooke Corporation, ,
+1-913-661-0123 Web site: http://www.brookecorp.com/
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