| Ticker: CFAC | 5480 Ferguson Drive | |
| Exchange: NASDAQ-National Market | Commerce, California 90022 | |
| Industry: Financial | (213) 720-8600 |
| Type of Shares: | Common Shares | Filing Date: | 4/22/96 | |
| U.S. Shares: | 1,850,000 | Offer Date: | 6/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.50 - $11.50 | |
| Primary Shares: | 1,850,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $19,425,000 | Selling: | $0.48 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,000,000 | |||
| Spin out parent firm: | Banner's Central Electric, Inc. | |||
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | 4156272220 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $26.59 | $9.29 | $4.85 | Assets: | $97.33 |
| Net Income: | $3.12 | $1.10 | $0.68 | Liabilities: | $63.80 |
| EPS: | $0.61 | $0.21 | Equity: | $33.53 | |
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 specialized consumer finance company that serves primarily low income hispanics. The consumer finance company provides consumer credit and other financial services to people that cannot secure credit through traditional means. During its 40 years of operation, the Company believes it has established customer loyalty by, among other things, granting credit on terms comparable to those charged by the Company's competitors. While the Company operates primarily in greater Los Angeles, the Company's objective is to become the leading provider of consumer credit and other financial services to the low income Hispanic population in urban areas in California and throughout the United States. Because the Company's customers are primarily low0income consumers, the Company is more susceptible to the risk that its customers will not be able to satisfy their repayment obligations than are less specialized consumer finance companies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for debt repayment, general corporate purposes and expansion of the company's business, including possible acquisitions. |
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