The First American Financial Corporation announces the filing of its application ...
November 8, 1993, SANTA ANA, CALIFORNIA
This news follows the company's earlier announcement of record third quarter results including the highest earnings per share, net income and quarterly revenues in the company's 104-year history.
"We have worked hard to make First American a fully diversified real estate financial services company," President Parker S. Kennedy said. According to Kennedy, the company's established title insurance business together with its growing tax service, home warranty and credit and mortgage reporting services provide First American a leadership position in integrated services.
"It is rare to find such an established company undergoing such an exciting and dramatic growth phase," said board member R.J. Munzer, retired chairman of Petrolane, Inc.
"The company has become the country's second largest title insurer with 18 percent of the national market which provides a solid base for development of new business lines, assuring our future growth," Chairman D.P. Kennedy said. "It is truly remarkable that a mature company has been able to continue its growth and corporate development."
"We believe the greater visibility within the investment community and the prospect of a broader shareholder base provided by the NYSE will contribute to the overall success of our company," President Kennedy said. "We feel very confident about our future and the opportunities created by this move. We expect 1993 to be a record year and we look forward to many years of continued success as a New York Stock Exchange-listed company."
The First American Financial Corporation, based in Santa Ana, Calif., is a leading provider of real estate financial services, including title insurance, tax monitoring and home warranty credit reporting and property information services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California. The company offers its title services through a network of more than 300 offices and 4,000 agents in all 50 states. It also provides title services abroad in the Bahama Islands, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom.