| Ticker: SFC | One Centerpointe Drive, Suite 500 | |
| Exchange: New York Stock Exchange | Lake Oswego, Oregon 97035 | |
| Industry: Financial | (503) 684-4700 |
| Type of Shares: | Common Shares | Filing Date: | 4/5/96 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 6/13/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 2,000,000 | Gross Spread: | $1.19 | |
| Offering Amount: | $80,000,000 | Selling: | $0.70 | |
| Expenses: | $1,045,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,375,000 | |||
| Spin out parent firm: | Imperial Credit Industries, Inc. | |||
| Manager | Tier | Phone |
| Natwest Securities Ltd | Lead Manager | (212) 602-4800 |
| Montgomery Securities | Co-manager | 4156272220 |
| Prudential Securities Incorporated | Co-manager | (212) 214-3000 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $22.30 | $11.98 | $3.82 | Assets: | $111.75 |
| Net Income: | $7.34 | $4.39 | $1.61 | Liabilities: | $94.47 |
| EPS: | $0.35 | $0.35 | Equity: | $17.28 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a specialty finance company engaged in the business of originating, purchasing and selling high-yielding, non-conforming mortgage loans secured primarily by one-to-four family residences. The majority of the company's loans are made to owners of single family residences who use the loan proceeds for purposes such as debt consolidation, financing of home improvements and educational expenditures. The company originates loans through its Wholesale Division and its recently formed Retail/Telemarketing Division and purchases loans through its Bulk Purchase Program and Institutional Division. The company commenced operations in January 1993 as a division of Southern Pacific Thrift & Loan Association, a wholly-owned subsidiary of ICII, and has been an operating subsidiary of ICII since April 1995. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay debt, fund loan originations and purchases, support securitization transactions, implement a telemarketing agreement and for general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.