| Business Summary | | Reliance
Acceptance
Group,
Inc.,
formerly
known
as
Cole
Taylor
Financial
Group,
Inc.,
is
a
financial
services
company
engaged
in
the
consumer
loan
acceptance
business
through
its
wholly
owned
subsidiaries
operating
as
Reliance
Acceptance
Corporation
(the
Finance
Company).
The
Finance
Company's
operations
have
focused
on
purchasing
closed-end
retail
sales
finance
contracts,
primarily
in
connection
with
sales
of
used
automobiles
by
franchised
dealers.
The
Finance
Company
commenced
operations
in
January,
1993
and,
at
December
31,
1996,
operated
53
Reliance
Acceptance
Corp.
offices,
with
six
offices
in
Georgia,
four
offices
in
Ohio,
18
offices
in
Texas,
four
offices
in
Florida,
three
offices
in
Colorado,
two
offices
in
Indiana,
three
offices
in
Tennessee,
two
offices
in
Nevada,
one
office
in
New
Mexico,
one
office
in
Kentucky,
one
office
in
South
Carolina,
one
office
in
Arizona,
four
offices
in
Illinois,
one
office
in
North
Carolina,
one
office
in
Missouri
and
one
office
in
Washington. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Reliance
Acceptance
Group
is
a
financial
services
co.
engaged
in
the
consumer
loan
acceptance
business.
For
the
nine
months
ended
9/97,
total
interest
income
rose
19%
to
$61.6
million.
Net
interest
loss
after
loan
loss
provision
totalled
$56.5
million
vs.
income
of
$37.1
million.
Net
loss
from
continuing
operations
totalled
$62.9
million
vs.
income
of
$10.7
million.
Results
reflect
an
increase
in
net
receivables,
offset
by
a
$93.1
million
provision
for
credit
losses
due
to
losses
and
employment
of
a
static
pool
reserve. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1996
Compensation | | Pay | Exer | |
| Howard Silverman, 58 Chairman | $469K | -- | Thomas Barlow, 51 Pres,
CEO | 1.2M | $353K | James Dolph, 47 Sr.
VP and CFO | -- | -- | James Kaplan, 42 Sr.
VP, Gen. Counsel and Corp. Sec. | -- | -- | Dollar
amounts are as of 31-Dec-1996 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|