Brooke Credit Corporation Announces Selected Results for November 2005
December 15 2005 - 9:56AM
PR Newswire (US)
OVERLAND PARK, Kan., Dec. 15 /PRNewswire-FirstCall/ -- Michael
Lowry, President of Brooke Credit Corporation, the finance
subsidiary of Brooke Corporation (NASDAQ:BXXX), announced selected
November 2005 results. Lowry announced that loan portfolio balances
for Brooke Credit Corporation on November 30, 2005, totaled
approximately $275,000,000 as compared to loan portfolio balances
of approximately $264,000,000 on October 31, 2005, and
approximately $260,000,000 on September 30, 2005. The loan
portfolio is comprised of outstanding loans either held in
inventory or sold with retained servicing rights. Lowry also
announced that, during November, Brooke Credit Corporation received
net interest and servicing income of approximately $1,100,000 and
incurred operating interest expense of approximately $246,000. To
help put these November results into perspective, Lowry noted that,
during the preceding 12 months, the monthly average of net interest
and servicing income totaled approximately $788,000 and the monthly
average of operating interest expense totaled approximately
$143,000. Lowry also announced that, during November, Brooke Credit
Corporation incurred a gain on loan sale activities of
approximately $236,000. To help observers put the November gain on
loan sale activities into perspective, Lowry noted that, during the
preceding 12 months, the monthly average of gain on loan sale
revenues totaled approximately $240,000. 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 $275,000,000 on November
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 contains forward-looking statements.
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. A more
complete description of Brooke's business is provided in Brooke
Corporation's most recent annual, quarterly and current reports,
which are available from Brooke Corporation without charge or at
http://www.sec.gov/ . DATASOURCE: Brooke Corporation CONTACT: Anita
Larson, of Brooke Corporation, , +1-913-661-0123 Web site:
http://www.brookecorp.com/
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