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| American National Financial, Inc. |
| 17911 Von Karman, Suite 200, Irvine, CA 92614 * (949) 622-4700 |
| Business Description | The company provides title insurance services as well as other real estate related financial and informational services including escrow, real estate information, trustee sale guarantees, and appraisals. |
| Offering Information Company has | |||
| Trading As | ANFI (NASNTL) | Industry | Financial (SIC 6361) |
| Type of Stock Offered | Common Shares | Filing Date | 08/27/1998 |
| Domestic Shares Offered | 1,750,000 | Offer Date | 02/11/1999 |
| Foreign Shares Offered | 0 | Filing Range | $6.00 - $7.00 |
| Company Shares | 1,750,000 | Offer Price | $6.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.450 |
| Gross Proceeds | $10,500,000 | Selling | $0.250 |
| Expenses | $570,000 | Reallowance | $0.100 |
| Post-IPO Shares | 6,917,096 | Employees | 766 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1993 | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 06/30/1997 | 06/30/1998 |
| Revenues | 18.576 | 18.293 | 29.721 | 51.732 | 58.666 | 25.141 | 45.275 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | 0.280 | -3.909 | -2.400 | -0.174 | 1.123 | 0.743 | 3.086 |
| E.P.S | - | - | - | - | - | - | 1.060 |
| Revenue Growth (%) | -1.52 | 62.47 | 74.06 | 13.404 | 80.08 | ||
| Net Income Growth (%) | - | - | - | - | 315.34 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | 1.51 | - | - | - | 1.91 | 6.82 | 2.96 |
| Cash Flow - Oper. | 2.84 | - | - | ||||
| Cash Flow - Inv. | -1.79 | - | - | ||||
| Cash Flow - Fin. | 6.17 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 06/30/1998 | Financial Ratios | ||||
| Total Assets | 27.53 | Current Assets | - | Current Ratio | - |
| Total Liab. | 23.32 | Current Liab. | - | Debt Ratio | 84.71% |
| Total Equity | 4.21 | Working Cap. | - | Debt to Equity Ratio | 5.54 |
| Cash | 6.15 | Return on Assets | 11.21% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to finance the acquisition of National and for general corporate purposes which may include strategic alliances. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Rutan & Tucker |
| Bank's Law Firm | Stradling, Yocca, Carlson & Rauth |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | KPMG Peat Marwick |
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| Industry Competition |
The title insurance business is very competitive, primarily in the areas of service and expertise. The size and financial strength of the title insurer who underwrites the policies are also important factors in decisions relating to the purchase of title insurance. Many of the Company's competitors have greater financial, personnel, marketing and other resources than the Company, and some are underwritten by larger title insurance companies. Also, the removal of regulatory barriers in the future might result in new competitors, including financial institutions entering the title insurance business. Intense competition among the more established title insurance companies and any such new entrants could have a material adverse effect on the business, financial condition and results of operations of the Company. |
| Business Plan |
The Company's objective is to become a leading supplier of title insurance and related real estate financial and informational services. The key elements in the Company's strategy to achieve this objective are to: (i) Expand to key geographic markets, (ii) Expand provision of real estate related services, (iii) Recruit highly qualified personnel, (iv) Leverage acquisition of national and (v) Pursue strategic acquisitions. |