The First American Financial Corporation board of directors announces the retirement ...


September 1, 1993, SANTA ANA, CALIFORNIA

The board of directors of The First American Financial Corporation (NASDAQ: FAMR) has regretfully announced the retirement of Jack H. Derloshon of Orange, California, as vice president-chief financial officer of The First American Financial Corporation and senior vice president-chief financial officer of its principal subsidiary, First American Title Insurance Company. Thomas A. Klemens has been elected as vice president-chief financial officer of both companies.

Derloshon, 64, is taking a somewhat early retirement due to ill health. He had worked with the company for 33 years, and will continue serving on the board of directors of First American Title Insurance Company through December.

"Jack was one of the original group which was responsible for the growth and for the present success of the company," Chairman D.P. Kennedy said. "He's been a tremendous representative in the community and throughout the United States for First American. We will miss him very much and wish him well in his retirement."

Derloshon joined First American in 1960 and was elected a vice president in 1970. He was elected to the board of directors of First American Title Insurance Company in 1971, and serves on the boards of several First American subsidiaries and affiliates. He is the past chairman of the accounting committees of the American Land Title Association and the California Land Title Association. Prior to his association with First American, Derloshon was with the auditing firm of Price Waterhouse for seven years. A certified public accountant since 1955, he is a member of the California Society and American Institute of Certified Public Accountants.

Derloshon has been active in many charitable and philanthropic Orange County organizations, including the American Diabetes Association, Casa Santa Maria, a housing project for the elderly, and the Finance Committee of the Diocese of Orange.

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 services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California and credit reporting and property information services in selected Eastern states. 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 Bahamas, Bermuda, Canada, Guam, Mexico, Puerto Rico, the Virgin Islands and the United Kingdom.

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