Company Overview of First Investors Financial Services Group Inc.
First Investors Financial Services Group, Inc., together with its subsidiaries, operates as a consumer finance company in the United States. The company specializes in lending to consumers with impaired credit profiles. It engages in originating and holding for investment retail installment sales contracts and promissory notes receivable secured by new and used automobiles, and light trucks primarily arising from the sale of the vehicle by factory authorized franchised dealers or through a refinancing transaction with the vehicle owner. The company also purchases receivables in portfolio acquisitions or from other third party originators; and performs third-party servicing for unaffiliated p...
675 Bering Drive
Houston, TX 77057
Founded in 1988
Key Executives for First Investors Financial Services Group Inc.
Chief Operating Officer and Senior Vice President
Senior Vice President and Director of Risk Management
Compensation as of Fiscal Year 2014.
First Investors Financial Services Group Inc. Key Developments
Consumer Financial Protection Bureau Orders First Investors Financial Services Group to Pay $2.75 Million Fine
Aug 21 14
Consumer Financial Protection Bureau orders First Investors Financial Services Group to pay $2.75 million fine for failing to fix 'known flaws' in computer system that provided inaccurate information to credit-reporting agencies about consumers' loan payments and other information.
First Investors Financial Services Group Inc., Special/Extraordinary Shareholders Meeting, Oct 30, 2012
Oct 4 12
First Investors Financial Services Group Inc., Special/Extraordinary Shareholders Meeting, Oct 30, 2012., at 09:00 Central Standard Time. Location: 675 Bering Drive, Suite 710. Agenda: To consider and vote upon a proposal to approve and adopt the previously announced definitive merger agreement, dated as of September 25, 2012, among the Company, FIFS Holdings Corp. and FIFS Holdings' wholly-owned subsidiary, ACP (TX) Merger Sub, Inc., and approve the transactions contemplated thereby.
First Investors Financial Services Group Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended July 31, 2012
Sep 14 12
First Investors Financial Services Group Inc. reported unaudited consolidated earnings results for the first quarter ended July 31, 2012. For the quarter, the company reported net income of $2,384,000 or $0.35 per diluted share compared to net income of $1,881,000 or $0.34 per diluted share a year ago. Net interest income was $14,013,000 against $11,424,000 a year ago. Income before provision for income taxes was $3,673,000 against $2,899,000 a year ago. Interest income was $17,436,000 against $13,706,000 a year ago. The increase in net income is primarily attributable to an increase in interest income as a result of growth in the average portfolio outstanding. The increase was partially offset by higher interest expense, higher provision for credit losses and lower servicing revenue. The increase in fully-diluted earnings per share was less than the increase in net income due to a 22.3% increase in the weighted average fully-diluted common shares outstanding during the three months ended July 31, 2012. The increase in net interest income was primarily due to the increase in the average portfolio of receivables held for investment.
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