Categories

A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

Cash America Announces New Share Repurchase Authorization for up to 4 Million Shares

FORT WORTH, Texas–(BUSINESS WIRE)–

Cash America International, Inc. (CSH) announced today that its board of directors, at its regularly scheduled meeting, authorized the repurchase of up to 4.0 million shares of the Company’s outstanding common stock, par value $0.10 per share. The share repurchase authorization does not have an expiration date, and the amount and prices paid for any future share purchases under the new authorization will be based on market conditions and other factors at the time of the purchase. Repurchases under the share repurchase program will be made through open market purchases or private transactions, in accordance with applicable federal securities laws. This new authorization cancels and replaces a previous authorization to purchase up to 2.5 million shares of common stock, under which approximately 41% of the authorized shares had been repurchased as of December 31, 2014.

Repurchased shares will be held as treasury stock for general corporate purposes. As of December 31, 2014, there were approximately 29 million shares of Cash America common stock issued and outstanding; therefore, the new authorization represents approximately 14% of the currently issued and outstanding shares of common stock.

In a separate release today, the Company also announced that its board of directors increased the quarterly cash dividend to 5 cents per share from 3.5 cents per share. The dividend will be payable on February 25, 2015 to shareholders of record on February 11, 2015. See the separate press release for additional details.

About the Company

As of December 31, 2014 Cash America International, Inc. (the “Company”) operated 943 total locations offering specialty financial services to consumers, which included the following:

859 lending locations in 21 states in the United States primarily under the names “Cash America Pawn,” “SuperPawn,” “Cash America Payday Advance,” and “Cashland;” and 84 check cashing centers (all of which are unconsolidated franchised check cashing centers) operating in 12 states in the United States under the name “Mr. Payroll.”

For additional information regarding Cash America International, Inc. visit its website located at www.cashamerica.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward-looking statements about the business, financial condition, operations and prospects of the Company. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation: the effect of, compliance with or changes in domestic pawn, consumer credit, tax and other laws and governmental rules and regulations applicable to the Company’s business or changes in the interpretation or enforcement thereof; the regulatory and examination authority of the Consumer Financial Protection Bureau, including the effect of and compliance with a consent order the Company entered into with the Consumer Financial Protection Bureau in November 2013; risks related to the separation of the Company and Enova International, Inc.; a claim relating to the terms of the Company’s 5.75% senior notes; the actions of third parties who provide, acquire or offer products and services to, from or for the Company; public and regulatory perception of the Company’s business, including its consumer loan business and its business practices; the effect of any current or future litigation proceedings or any judicial decisions or rule-making that affect the Company, its products or its arbitration agreements; fluctuations, including a sustained decrease, in the price of gold or deterioration in economic conditions; a prolonged interruption in the Company’s operations of its facilities, systems and business functions, including its information technology and other business systems; changes in demand for the Company’s services and changes in competition; impairment risk related to the Company’s goodwill and intangible assets; the Company’s ability to attract and retain qualified executive officers; the ability of the Company to open new locations in accordance with its plans or to successfully integrate newly acquired businesses into the Company’s operations; interest rate fluctuations; changes in the capital markets, including the debt and equity markets; changes in the Company’s ability to satisfy its debt obligations or to refinance existing debt obligations or obtain new capital to finance growth; security breaches, cyber-attacks or fraudulent activity; acts of God, war or terrorism, pandemics and other events; the effect of any of such changes on the Company’s business or the markets in which it operates; and other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

FinanceInvestment & Company Information Contact:

Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100

[…]

Trinity Bank Increases Cash Dividend 9.7%

FORT WORTH, TX–(Marketwired – Sep 24, 2014) – Trinity Bank, N.A. (OTCBB: TYBT) announced that on September 23, 2014, the Board of Directors declared a cash dividend of $.34 per share. The dividend will be payable on October 31, 2014 to shareholders of record as of the close of business on October 15, 2014.

President Jeffrey M. Harp stated, “The Board of Directors of Trinity Bank, N.A. is pleased to announce the bank’s sixth cash dividend. The dividend of $.34 per share payable in October, 2014 represents a 9.7% increase over the $.31 per share dividend that was paid in April, 2014.”

“Trinity Bank continued to perform well in the first half of 2014 in terms of growth, profitability, and operating efficiency. With an approximately 12% Capital Ratio, Trinity remains extremely well-capitalized and able to share a portion of net income with shareholders in the form of an increased cash dividend. The Board will review the dividend policy again in the spring when the operating results for the last half of 2014 are available.”

Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank’s website: www.trinitybk.com click on “About Us” and then click on “Investor Information.” Financial information in regulatory reporting format is also available at www.fdic.gov.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future financial conditions, results of operations and the Bank’s business operations. Such forward-looking statements involve risks, uncertainties and assumptions, including, but not limited to, monetary policy and general economic conditions in Texas and the greater Dallas-Fort Worth metropolitan area, the risks of changes in interest rates on the level and composition of deposits, loan demand and the values of loan collateral, securities and interest rate protection agreements, the actions of competitors and customers, the success of the Bank in implementing its strategic plan, the failure of the assumptions underlying the reserves for loan losses and the estimations of values of collateral and various financial assets and liabilities, that the costs of technological changes are more difficult or expensive than anticipated, the effects of regulatory restrictions imposed on banks generally, any changes in fiscal, monetary or regulatory policies and other uncertainties as discussed in the Bank’s Registration Statement on Form SB-1 filed with the Office of the Comptroller of the Currency. Should one or more of these risks or uncertainties materialize, or should these underlying assumptions prove incorrect, actual outcomes may vary materially from outcomes expected or anticipated by the Bank. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. The Bank believes it has chosen these assumptions or bases in good faith and that they are reasonable. However, the Bank cautions you that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The Bank undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless the securities laws require the Bank to do so.

[…]

Woman accused of defrauding 83-year-old gets caught

FORT LAUDERDALE –

Ana Maria Cordero-Noriega waited outside of stores in South Florida to prey on victims, police said.

Lie, after lie, she convinced them to give her cash, and go on shopping sprees that included electronics, luxury watches and clothes at stores like Macy’s and Best Buy.

It all started with a winning lottery ticket. Victims told police Cordero-Noriega, 34, said that because she was an undocumented migrant, she needed help to cash it.

Her accomplice, victims said, impersonated a lottery representative. The problem: The lottery representative needed cash to help them cash the ticket. In exchange for the victim’s cash loan, Cordero-Noriega promised she would share a portion of her winnings, police said.

It was a tempting deal for many. Officers finally caught up to her on Wednesday.

Police arrested her for allegedly defrauding a victim she met outside of a Sedano’s supermarket in Pembroke Pines on Sept. 25th.

Cordero-Noriega told an 83-year-old woman she would get $30,000 for her help. The victim went to the bank and applied for a loan. She was approved.

After a shopping spree, Cordero-Noriega and two accomplices took off with $17,000 in cash and some merchandise. They dropped her off in front of the Sedano’s.

Records show Cordero-Noriega has cases pending in Miami-Dade and Orange County. And she is facing charges of organized fraud, grand theft of the second degree, grand theft to a 65-year-old and older, unlawful use of false name or identity, false representation of ownership and dealing in stolen property.

Her bond was set at $250,000 Thursday.

[…]

Cash America 2Q results miss Street, cuts outlook

FORT WORTH, Texas (AP) — Pawn shop operator and payday lender Cash America International Inc. said Thursday that its net income dropped 16 percent because of lower demand for loans from consumers.

The company’s performance missed Wall Street’s view, and it also cut its full-year earnings outlook again and provided a third-quarter earnings forecast below analysts’ estimates. Shares fell in afternoon trading.

Cash America makes money from loans to consumers, from service fees and from selling jewelry, electronics and other goods in its pawn shops.

For the three months ended June 30, Cash America earned $25.1 million, or 81 cents per share. That’s down from $29.8 million, or 94 cents per share, a year earlier.

Analysts, on average, expected higher earnings of 86 cents per share, according to a FactSet survey.

The Fort Worth, Texas company said that the current quarter’s results were also hindered by increased expenses for health insurance and personnel costs and additional interest expense related to a $300 million debt offering in May.

Revenue dipped slightly to $411 million from $411.6 million. Wall Street predicted $425.5 million in revenue.

Shares of Cash America declined $3.09, or 6.7 percent, to $42.84. The stock has traded between $34.21 and $54.12 over the past year.

Proceeds from merchandise sales dropped, mostly because of weaker commercial sales of refined gold. Cash America also said that it experienced lower demand for loan products. Online revenue climbed.

Janney analyst Sameer Gokhale, who rates the stock “Neutral,” said that net revenue — or total revenue less cost of merchandise and the loan loss provision expense — missed his estimate, primarily because consumer loan fees fell short.

“While it is unclear exactly what is driving weaker-than-expected pawn loan demand in the U.S., the company does not believe it is ceding market share,” the analyst wrote in a note. “The company attributes this more to cautious consumer behavior as they are continuing to de-lever and are less confident about the economy in the near term.”

Cash America President and CEO Daniel Feehan said in a statement that the challenges related to the commercial sale of scrap gold and soft loan demand are likely to continue for the rest of the year.

For the third quarter, Cash America foresees earnings of 75 cents to 85 cents per share. Full-year earnings are expected in a range of $4.15 to $4.35 per share. Its prior annual guidance was for earnings of $4.70 to $5 per share, which had been lowered from $4.75 to $5.15 per share.

Analysts predict third-quarter earnings of $1.01 cents per share and full-year earnings of $4.59 per share.

The company also declared a regular quarterly dividend of 3.5 cents per share. The dividend will be paid on Aug. 21 to shareholders of record on Aug.7.

[…]

UPDATE: BBX Capital Corporation Announces $44 Million Catalfumo Settlement

FORT LAUDERDALE, FL–(Marketwired – June 10, 2013) – BBX Capital Corporation (“BBX Capital” and/or the “Company”) (BBX), formerly BankAtlantic Bancorp, Inc., announced today that it has settled its protracted litigation arising out of the Company’s lending relationship with Daniel S. Catalfumo and certain members of his family and affiliated entities (“Catalfumo”). Pursuant to the settlement, Catalfumo will pay BBX Capital $25 million in cash and transfer property valued at approximately $14 million to BBX Capital by July 3, 2013. An additional $5 million in cash is payable by November 20, 2013. All of the payments and property transfers are subject to certain periods of extension and subject to Bankruptcy Court approval.

The loan to Catalfumo was originated by BankAtlantic and later transferred to BBX Capital when BBX Capital sold BankAtlantic to BB&T. The loan had gone into default and attempts at prior resolution with the borrowers were not successful. Legal collection actions were filed against approximately fifty Catalfumo entities in Florida, South Carolina and the Cayman Islands.

“This settlement reflects the seriousness of our efforts to collect amounts owed by borrowers. As a bank, BankAtlantic was under significant regulations to reduce classified assets quickly even if it involved taking a greater loss. Once the loan was transferred to BBX Capital, we were in a position to take the time and apply the resources to collect the debt. This settlement is expected to ultimately pay the full amount of our judgment, including default interest, attorney’s fees and costs of collection. We are delighted to have this behind us and we will continue to focus on BBX Capital’s other commercial loan borrowers who strategically defaulted to avoid repayment,” commented Mr. John “Jack” E. Abdo, Vice Chairman of BBX Capital.

BBX Capital has been actively pursuing collection efforts on the approximately $600 million of assets it retained in connection with the sale of BankAtlantic. In excess of $200 million of cash and real estate assets have been recovered to date on loans transferred to BBX Capital.

Additional information relating to BBX Capital and the Catalfumo settlement is available in the Company’s Form 8-K, and is available to view on the SEC’s website, www.sec.gov, or on BBX Capital’s website, www.BBXCapital.com.

About BBX Capital Corporation: BBX Capital (BBX), formerly known as BankAtlantic Bancorp, is involved in the ownership, financing and management of real estate and real estate related assets and operating businesses. In addition to its 46% ownership interest in Bluegreen Corporation (a vacation ownership company with 170,000 owners and over 61 owned or managed resorts), the business of BBX Capital involves real estate ownership, direct acquisition and joint venture equity in real estate, as well as the pursuit of specialty finance and investments in middle market operating businesses. For more information, visit www.BBXCapital.com

This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and include words or phrases such as “plans,” “believes,” “will,” “expects,” “anticipates,” “intends,” “estimates,” “our view,” “we see,” “would” and words and phrases of similar import. The forward looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and involve substantial risks and uncertainties. These risks and uncertainties include, but are not limited to the impact of economic, competitive and other factors affecting the Company and its assets, the risk that the assets retained by the Company in connection with the sale of BankAtlantic may not be monetized at the values currently ascribed to them, that amounts payable will not be made pursuant to the terms of the settlement, and that the Bankruptcy Court will not approve the settlement on the terms presented, or at all. Past performance is not indicative of future results. Actual results could differ materially as a result of a variety of risks and uncertainties, many of which are outside of the control of management. Reference is also made to the risks and uncertainties detailed in reports filed by the Company with the SEC, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, which may be viewed on the SEC’s website at www.sec.gov or on BBX Capital’s website at www.BBXCapital.com. The Company cautions that the foregoing factors are not exclusive.

Contact:

BBX Capital Contact Info:

Investor Relations:

Leo Hinkley

Investor Relations Officer

954- 940-5300

Email:

InvestorRelations@BBXCapital.com

Media contact:
Caren Berg
Boardroom Communications
(954) 370-8999
Email: cberg@boardroompr.com

[…]

Cash America's 4Q net income falls on charges

FORT WORTH, Texas (AP) — Cash America International Inc. said Thursday that its net income fell sharply in the fourth quarter, as the pawn shop and payday lender booked hefty charges related to trimming operations in Mexico and other costs.

But the company’s adjusted results exceeded Wall Street’s expectations, helping boost shares more than 7 percent in afternoon trading.

Cash America makes money from loans to consumers, from service fees and from selling jewelry, electronics and other goods in its pawn shops.

The company reported net income of $24.5 million, or 79 cents per share, for the three months ended Dec. 31. That compares with net income of $37.8 million, or $1.18 per share, in the prior-year quarter.

The results included a charge of $7 million, or 23 cents per share, for the closure of 115 pawn shops in Mexico, as well as an after-tax charge of $8.4 million, or 27 cents per share, related to company refunds to some customers in Ohio.

Stripping out those one-time charges, Cash America’s adjusted earnings amounted to $1.29 per share, the company said.

Analysts, on average, had forecast earnings of $1.18 per share, according to FactSet.

Total revenue for the quarter rose 4 percent to $491.6 million from $474 million a year earlier. Analysts had expected $364.7 million.

Cash America’s loan products, driven by higher loan balances outstanding, fueled much of the increase in quarterly revenue, the company said.

At the end of the quarter, combined consumer loan balances totaled $439.8 million, an increase of 27 percent from a year earlier.

Pawn service fees grew 5 percent, while consumer loan fees jumped 24 percent. Cash America’s e-commerce segment posted a 30 percent increase in revenue.

“The e-commerce segment remains the bright spot in the company’s operations,” said Janney Capital Markets analyst Sameer Gokhale. Online lending drove overall consumer loan fees up 23.8 percent compared with the prior year, Gokhale said, maintaining a “Buy” rating on the stock.

For all of 2012, Cash America’s net income fell to $107.5 million, or $3.42 per share, compared with net income of $136 million, or $4.25 per share, in 2011. Excluding one-time charges, full-year earnings were $4.57 per share, the company said.

Revenue for 2012 climbed to $1.80 billion from $1.58 billion the year before.

Cash America expects first-quarter earnings per share to range from $1.35 and $1.42. Analysts are anticipating earnings of $1.27 per share, on average, with estimates ranging from $1.18 to $1.41.

The company projects that its 2013 earnings per share will range from $4.75 to $5.15. Analysts expect earnings of $4.96 per share.

Meanwhile, the company’s board of directors declared a cash dividend of 3.5 cents, payable on Feb. 20 to shareholders of record on Feb. 6.

The board also authorized a buyback of up to 2.5 million shares in the company.

The new stock buyback authorization replaces a previous plan to purchase up to 2.5 million shares that required roughly 40 percent of the shares to be purchased by the end of last month.

Sterne, Agee analyst Henry Coffey said if the company is fully active in its buyback program and continues to set aside low levels of money to cover uncollected loans, it could see the top end of its guidance for the year.

He also said he expects a “favorable outcome for the industry” from deliberations in the Texas legislature over the rights of cities in the state to set rates and terms on financial service products. The bill would only effect store-based lending, not online loans.

Coffey kept a “Buy” rating and $45 price target on the stock.

Cash America shares added $3.04, or 7 percent, to $46.20 in afternoon trading. Earlier, shares traded as high as $47.24, short of the 52-week high of $49.42 recorded in March.

[…]

Cash America Announces 2.5 Million Share Repurchase Authorization

FORT WORTH, Texas–(BUSINESS WIRE)–

Cash America International, Inc. (CSH) announced today that its board of directors, at its regularly scheduled meeting, authorized the repurchase of up to 2,500,000 shares of the Company’s outstanding common stock, par value $0.10 per share. The share repurchase authorization does not have an expiration date, and the amount and prices paid for any future share purchases under the new authorization will be based on market conditions and other factors at the time of the purchase. Repurchases under the share repurchase program will be made through open market purchases or private transactions, in accordance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. This new authorization cancels and replaces a previous authorization to purchase up to 2,500,000 shares of common stock, under which approximately 40% of the authorized shares had been repurchased as of December 31, 2012.

Repurchased shares will be held as treasury stock for general corporate purposes. As of December 31, 2012, there were approximately 29 million shares of Cash America common stock issued and outstanding; therefore, the new authorization represents approximately 9% of the currently issued and outstanding shares of common stock.

About the Company

As of December 31, 2012, Cash America International, Inc. operated 969 total locations offering specialty financial services to consumers, which included the following:

831 lending locations in 22 states in the United States primarily under the names “Cash America Pawn,” “SuperPawn,” “Cash America Payday Advance,” and “Cashland;” 47 pawn lending locations in central and southern Mexico under the name “Cash America casa de empeño” (previously operated under the name “Prenda Fácil”); and 91 check cashing centers (all of which are unconsolidated franchised check cashing centers) operating in 15 states in the United States under the name “Mr. Payroll.”

Additionally, as of December 31, 2012, the Company offered consumer loans over the Internet to customers:

in 32 states in the United States at http://www.cashnetusa.com and http://www.netcredit.com; in the United Kingdom at http://www.quickquid.co.uk and http://www.poundstopocket.co.uk; in Australia at http://www.dollarsdirect.com.au; and in Canada at http://www.dollarsdirect.ca.

For additional information regarding the Company and the services it provides, visit the Company’s websites located at:

http://www.cashamerica.com http://www.poundstopocket.co.uk http://www.enova.com http://www.dollarsdirect.com.au http://www.cashnetusa.com http://www.dollarsdirect.ca http://www.netcredit.com http://www.goldpromise.com http://www.cashlandloans.com http://www.mrpayroll.com http://www.quickquid.co.uk http://www.primaryinnovations.net

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward-looking statements about the business, financial condition, operations and prospects of the Company. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation: changes in domestic and foreign pawn, consumer credit, tax and other laws and governmental rules and regulations applicable to the Company’s business or changes in the interpretation or enforcement thereof; the anticipated regulation of consumer financial products and services by the Consumer Financial Protection Bureau; acceptance by consumers, legislators or regulators of the negative characterization by the media and consumer activists with respect to certain of the Company’s loan products; the reorganization of the Company’s Mexico-based pawn operations; the deterioration of the political, regulatory or economic environment in foreign countries where the Company operates or in the future may operate; the actions of third parties who provide, acquire or offer products and services to, from or for the Company; changes in demand for the Company’s services and the continued acceptance of the online distribution channel by the Company’s online loan customers; fluctuations in the price of gold or a deterioration in economic conditions; changes in competition; the ability of the Company to open new locations in accordance with its plans or to successfully integrate newly acquired businesses into the Company’s operations; interest rate and foreign currency exchange rate fluctuations; the effect of any current or future litigation proceedings or any judicial decisions or rule-making that affect the Company, its products or its arbitration agreements; changes in the capital markets; changes in the Company’s ability to satisfy its debt obligations or to refinance existing debt obligations or obtain new capital to finance growth; a prolonged interruption in the Company’s operations of its facilities, systems and business functions, including its information technology and other business systems; security breaches, cyber attacks or fraudulent activity; the implementation of new, or changes in the interpretation of existing, accounting principles or financial reporting requirements; acts of God, war or terrorism, pandemics and other events; the effect of any of such changes on the Company’s business or the markets in which it operates; and other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

Contact:

Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100

[…]

Cash America to Make Voluntary Reimbursement to Ohio Customers

FORT WORTH, Texas–(BUSINESS WIRE)–

Cash America International, Inc. (CSH) announced today a voluntary program to fully reimburse approximately 14,000 Ohio customers for funds collected in connection with legal proceedings initiated by the Company in Ohio from January 1, 2008 to the present seeking the collection of past due loan amounts owed to the Company.

Cash America recently determined that a small number of employees did not prepare some court documents properly in many of its Ohio collections legal proceedings. While the Company believes the filed documents accurately depict the existence and amount of the debts owed to the Company under consumer lending contracts, the preparation and filing of these documents did not always comply with certain court rules.

“We hold ourselves to the highest ethical standards. When we discovered this problem, we took swift action,” said Daniel R. Feehan, Chief Executive Officer of Cash America. “First and foremost, we will take care of our customers and we are implementing rigorous measures to do so. We will also institute additional steps to help prevent this problem from occurring again.”

Cash America will voluntarily reimburse all amounts received through collections legal proceedings initiated by the Company in Ohio, from January 1, 2008 to the present, plus interest, including the reimbursement of amounts collected in connection with legal proceedings that were not affected by the improper document preparation. The Company is engaging an independent claims administrator to conduct the reimbursement program and to ensure the most comprehensive reimbursement possible. In addition, for all trial court collections proceedings filed in Ohio since January 1, 2008 with the exception of one appellate matter, Cash America will promptly file dismissals, terminate all existing post-judgment collections activities, and request to vacate each judgment entered and/or notify credit reporting bureaus of the vacated judgments, as necessary for each case. While Cash America is taking these actions proactively, it could still be subject to other liabilities, and additional changes in its business practices may also be required.

Cash America has voluntarily disclosed this issue and its intent to implement the reimbursement program to state and federal regulators and will continue to keep regulators informed on the progress of the program and the other measures it will take in connection with this issue.

Cash America estimates that the cost of this reimbursement program and related expenses will be approximately $13.4 million before taxes, which will be included in the financial results for its fourth quarter ended December 31, 2012.

“We are deeply committed to our customers, our shareholders and our 7,000 employees who work diligently to provide the highest level of service to our communities,” Mr. Feehan said. “We are taking these steps to demonstrate our commitment to corporate integrity and community responsibility.”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward-looking statements about the business, financial condition and prospects of the Company. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation: changes in domestic and foreign pawn, consumer credit, tax and other laws and governmental rules and regulations applicable to the Company’s business or changes in the interpretation or enforcement thereof; the anticipated regulation of consumer financial products and services by the Consumer Financial Protection Bureau; acceptance by consumers, legislators or regulators of the negative characterization by the media and consumer activists with respect to certain of the Company’s loan products; the reorganization of the Company’s Mexico-based pawn operations; the deterioration of the political, regulatory or economic environment in foreign countries where the Company operates or in the future may operate; the actions of third parties who provide, acquire or offer products and services to, from or for the Company; changes in demand for the Company’s services and the continued acceptance of the online distribution channel by the Company’s online loan customers; fluctuations in the price of gold or a deterioration in economic conditions; changes in competition; the ability of the Company to open new locations in accordance with its plans or to successfully integrate newly acquired businesses into the Company’s operations; interest rate and foreign currency exchange rate fluctuations; the effect of any current or future litigation proceedings or any judicial decisions or rule-making that affect the Company’s arbitration agreements; changes in the capital markets; changes in the Company’s ability to satisfy its debt obligations or to refinance existing debt obligations or obtain new capital to finance growth; a prolonged interruption in the Company’s operations of its facilities, systems and business functions, including its information technology and other business systems; security breaches, cyber attacks or fraudulent activity; the implementation of new, or changes in the interpretation of existing, accounting principles or financial reporting requirements; acts of God, war or terrorism, pandemics and other events; the effect of any of such changes on the Company’s business or the markets in which it operates; and other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

Contact:

Cash America International, Inc.

Thomas A. Bessant, Jr., 817-335-1100

or

Media Inquiries:

Yolanda Walker, 817-333-1973

[…]

Lawton plans county staff cuts for Dec. 1

FORTY FORT – Cash-flow problems could deplete Luzerne County’s fund balance in December, Chief of Budget and Finance Vic Mazziotti told county council at Monday’s meeting.

The county may have to borrow by selling delinquent tax liens to solve the cash-flow problems, Mazziotti said. County Manager Robert Lawton added he planned to implement staff cuts on Dec. 1.

Council at the meeting began reviewing the $122.2 million budget Lawton proposed for next year. According to the budget submitted, a loan involving overdue tax liens this year would generate $5.5 million, and that will help create $4.35 million in year-end surplus funds to carry over as revenue in 2013.

The county may have to sell or monetize delinquent tax liens next year if revenue falls short again, Mazziotti said. The county would wait until later in 2013 for another monetization loan to reduce the cost of fees, which cold cost about $350,000 Mazziotti said.

“It’s bad policy,” Councilman Jim Bobeck said. “But you have to do it because we have a cash flow problem.”

The process allows a third party to buy delinquent tax liens from the county for about 90 to 95 percent of what is owed. The county would receive an up-front influx of cash and can pay off the debt when property owners pay overdue taxes.

“We’re still in a borrowing mode,” said Michael Giamber, an activist from Sweet Valley. “We’re not addressing the root cause.”

Council members in February rejected the option to sell delinquent tax liens when they adopted a $122.5 million budget for 2012 with a 2 percent tax hike.

Lawton’s budget would keep the county property tax rate at 5.32 mills – $532 for $100,000 in assessed value. General fund spending would be $383,490 less than this year’s budget allocation, and personnel cuts would decrease the county employee count from 1,497 to 1,441.

Also Monday, Lawton said HE determined 25 attorneys, who work part time for the county, receive full-time health and pension benefits. He said he would like to see those part-time employees replaced with fewer full-time employees.

Controller Walter L. Griffith Jr. asked council to fund an additional employee to help his office conduct audits.

“I gave up six people in this county, and I can’t get one,” Griffith said. “And I don’t think that’s fair.”

The controller’s office spent $568,932 in 2011. The controller’s allocation was $319,600 in 2012 and would drop to $287,921 under Lawton’s 2013 budget. Griffith requested $357,536 for 2013.

Monday’s meeting was at the West Side Annex at the Wyoming Valley Airport. Another budget meeting is scheduled for Nov. 14 at the Emergency Management Building in Wilkes-Barre.

mbuffer@citizensvoice.com, 570-821-2073

[…]

Trinity Bank Declares Second Cash Dividend Plus a Special One-Time Dividend

FORT WORTH, TX–(Marketwire – Oct 10, 2012) – Trinity Bank N.A. ( OTCBB : TYBT ) announced that on October 9, 2012, the Board of Directors declared the bank’s second cash dividend of $.20 per share plus a special one-time dividend of $1.00 per share. Both dividends are payable November 15, 2012 to shareholders of record as of the close of business on October 31, 2012.

Jeffrey M. Harp, President, stated, “The primary role of management and the board of any organization is to allocate the bank’s capital to produce the greatest return to shareholders commensurate with acceptable risk. The capital allocation alternatives that the Board reviews on a regular basis include the following.”

1. Internal Growth.
2. Acquisition (another financial institution).
3. Geographic expansion (open a branch).
4. Return some portion of earnings to shareholders in the form of stock repurchase and/or cash dividends.

“In short, we are accumulating capital through retained earnings at a greater rate than is necessary to fund internal growth. We haven’t found an acquisition or geographical expansion that makes sense. We haven’t been able to purchase a significant amount of stock under plans approved by the shareholders and our primary regulator. Therefore, we are declaring both a second cash dividend and a special one-time cash dividend. We know the tax rate for dividends in 2012. We do not know what the dividend tax rate will be in 2013 — but we know it will be higher. We can provide some tangible return now to our shareholders in the most tax-advantageous manner possible.”

“Please rest assured that after these cash dividends, Trinity Bank’s capital position remains well above regulatory minimums. These dividends will not limit our ability to consider any of the remaining investment alternatives should an attractive opportunity appear. The Board will continue to review the dividend policy on a semiannual basis.”

Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank’s website: www.trinitybank.com click on “About Us” and then click on “Investor Information.” Financial information in regulatory reporting format is also available at www.fdic.gov.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future financial conditions, results of operations and the Bank’s business operations. Such forward-looking statements involve risks, uncertainties and assumptions, including, but not limited to, monetary policy and general economic conditions in Texas and the greater Dallas-Fort Worth metropolitan area, the risks of changes in interest rates on the level and composition of deposits, loan demand and the values of loan collateral, securities and interest rate protection agreements, the actions of competitors and customers, the success of the Bank in implementing its strategic plan, the failure of the assumptions underlying the reserves for loan losses and the estimations of values of collateral and various financial assets and liabilities, that the costs of technological changes are more difficult or expensive than anticipated, the effects of regulatory restrictions imposed on banks generally, any changes in fiscal, monetary or regulatory policies and other uncertainties as discussed in the Bank’s Registration Statement on Form SB-1 filed with the Office of the Comptroller of the Currency. Should one or more of these risks or uncertainties materialize, or should these underlying assumptions prove incorrect, actual outcomes may vary materially from outcomes expected or anticipated by the Bank. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. The Bank believes it has chosen these assumptions or bases in good faith and that they are reasonable. However, the Bank cautions you that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The Bank undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless the securities laws require the Bank to do so.

Contact:

For information contact:
Richard Burt
Executive Vice President
Trinity Bank
817-763-9966

[…]