Brooke Credit Corporation Announces Selected Results for December 2005
January 17 2006 - 9:47AM
PR Newswire (US)
OVERLAND PARK, Kan., Jan. 17 /PRNewswire-FirstCall/ -- Michael
Lowry, President of Brooke Credit Corporation, the finance
subsidiary of Brooke Corporation (NASDAQ:BXXX), announced selected
December 2005 results. Lowry announced that loan portfolio balances
for Brooke Credit Corporation on Dec. 31, 2005, totaled
approximately $277,000,000 as compared to loan portfolio balances
of approximately $275,000,000 on Nov. 30, 2005, and approximately
$264,000,000 on Oct. 31, 2005. The loan portfolio is comprised of
outstanding loans either held in inventory or sold with retained
servicing rights. Lowry also announced that, during December,
Brooke Credit Corporation received net interest and servicing
income of approximately $1,088,000 and incurred operating interest
expense of approximately $181,000. To help put these December
results into perspective, Lowry noted that, during the preceding 12
months, the monthly average of net interest and servicing income
totaled approximately $807,000 and the monthly average of operating
interest expense totaled approximately $154,000. Additionally,
Lowry announced that, during December, Brooke Credit Corporation
incurred a gain on loan sale activities of approximately
$4,757,000. The December gain on loan sales primarily resulted from
the Dec. 15, 2005, issuance of $51,500,000 in asset-backed
securities through Brooke Securitization Company V, LLC. To help
observers put the December 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
$241,000. 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 $277,000,000 on Dec. 31,
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/. First Call Analyst: FCMN Contact:
solol@brookecorp.com DATASOURCE: Brooke Corporation CONTACT: Anita
Larson of Brooke Corporation, +1-913-661-0123, or Web site:
http://www.brookecorp.com/
Copyright
Brooke Corp (MM) (NASDAQ:BXXX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brooke Corp (MM) (NASDAQ:BXXX)
Historical Stock Chart
From Jul 2023 to Jul 2024