First National Financial Corporation, through its subsidiary, First National Financial LP, is engaged in the origination, underwriting, and servicing of residential and commercial mortgages in Canada. It operates in two segments, Residential and Commercial. The company originates and underwrites prime single family residential mortgages; conventional multi-unit residential and commercial mortgages; and Canada Mortgage and Housing Corporation-insured multi-unit residential mortgages on apartment buildings and long-term residential care facilities, as well as provides other mortgage origination services. It also offers mortgage broker and mortgage servicing solutions. The company is headquarte...
100 University Avenue
Toronto, ON M5J 1V6
First National Financial Corporation Announces Financial Results for the Second Quarter and Six Months Ended June 30, 2014
Jul 29 14
First National Financial Corporation announced financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $201,596,000 against $229,830,000 a year ago. Income before income taxes was $38,217,000 against $91,945,000 a year ago, due to changes in gains and losses on financial instruments primarily due to lower interest rate yields in the bond market which negatively affected the fair value of the company's interest rate hedges. Pre-FMV EBITDA was $48,392,000 against $51,193,000 a year ago. Cash used in operating activities was $468,136,000 against $353,329,000 a year ago. Adjusted cash flow was $16,660,000 against $43,035,000 a year ago. Adjusted cash flow available for common shareholders was $15,498,000 or $0.26 per share against $41,873,000 or $0.70 per share a year ago.
For the six months, the company reported revenue of $374,301,000 against $375,058,000 a year ago. Income before income taxes was $69,478,000 against $123,181,000 a year ago. Pre-FMV EBITDA was $89,780,000 against $88,057,000 a year ago. Cash used in operating activities was $517,822,000 against $544,832,000 a year ago. Adjusted cash flow was $24,316,000 against $57,635,000 a year ago. Adjusted cash flow available for common shareholders was $21,991,000 or $0.37 per share against $55,310,000 or $0.92 per share a year ago.
First National Financial Corporation Declares July Dividend Payable on August 15, 2014
Jul 15 14
First National Financial Corporation announced its monthly dividend payment of $0.125 per common share for the period July 1 to July 31, 2014. The dividend will be payable on August 15, 2014 to shareholders of record at the close of business on July 31, 2014.
First National Financial Corporation to Report Q2, 2014 Results on Jul 29, 2014
Jul 7 14
First National Financial Corporation announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 29, 2014