|
Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| Assets |
|
|
| Cash |
$ 2,314 |
$ 4,849 |
| Gross finance receivables |
423,482 |
387,494 |
| Less unearned finance charges, insurance premiums, and commissions |
(78,071) |
(80,900) |
| Finance receivables |
345,411 |
306,594 |
| Allowance for loan losses |
(20,780) |
(19,300) |
| Net finance receivables |
324,631 |
287,294 |
| Premises and equipment, net of accumulated depreciation |
5,025 |
4,446 |
| Deferred tax asset, net |
|
15 |
| Repossessed assets at net realizable value |
400 |
409 |
| Other assets |
8,695 |
7,137 |
| Total assets |
341,065 |
304,150 |
| Liabilities: |
|
|
| Cash overdraft |
6 |
1 |
| Deferred tax liability, net |
4,061 |
|
| Accounts payable and accrued expenses |
6,684 |
7,447 |
| Senior revolving credit facility |
212,731 |
206,009 |
| Mezzanine debt - related parties |
|
25,814 |
| Other notes payable |
1,018 |
|
| Total liabilities |
224,500 |
239,271 |
| Temporary equity |
|
12,000 |
| Commitments and Contingencies |
|
|
| Stockholders' equity: |
|
|
| Common stock -1,000,000,000 shares authorized; 12,486,727 and 9,336,727 issued and outstanding at June 30, 2012 and December 31,2011 respectively; $.10 par value per share) |
1,249 |
934 |
| Additional paid-in-capital |
79,780 |
28,150 |
| Retained earnings |
35,536 |
23,795 |
| Total stockholders' equity |
116,565 |
52,879 |
| Total liabilities and stockholders' equity |
$ 341,065 |
$ 304,150 |