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BUSINESS
May 2, 1995
US Facilities Corp., an insurance company, recorded a first-quarter profit of $2.92 million, or 52 cents a share, nearly five times the $600,000, or 10 cents a share, profit the company posted for the same quarter last year. Company officials said the surge could be attributed to strong premium growth this year and to the company's restructuring. Officials also said that its first quarter 1994 performance was affected by a $1.
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BUSINESS
February 5, 1997
Insurance holding company US Facilities Corp. reported 1996 net income of $15 million, or $2.51 a share, an 8% gain from the $13.9 million, or $2.42 a share, recorded for 1995. Revenue was up 8% to $163.1 million from $151.2 million. Net income increased 8% to $3.9 million, or 65 cents a share, from $3.6 million, or 61 cents a share, for the fourth quarter a year ago. Revenue advanced 14% to $45.1 million from $39.5 million.
BUSINESS
September 26, 1996
U.S. Facilities Corp. shares rose slightly Wednesday in the insurance holding company's debut on the New York Stock Exchange. U.S. Facilities, which began trading on the NYSE under the symbol UF, closed at $18.375, up 19 cents from its closing price Tuesday on the Nasdaq market.
BUSINESS
May 26, 1994 | From Times Staff and Wire Reports
U.S. Facilities Corp. shareholders voted on a resolution to put the company up for sale, spurred by a hostile takeover bid from Fidelity National Financial Inc. U.S. Facilities said it will announce the outcome this morning.
BUSINESS
May 5, 1993
US Facilities Corp., the Costa Mesa specialty insurer, reported a 12% gain in net income for the first quarter, to $1.9 million, or 31 cents a share, from $1.7 million, or 28 cents a share, for the similar period in 1992. Revenue was up 35%, to $26 million from $19.3 million.
BUSINESS
September 26, 1996
U.S. Facilities Corp. shares rose slightly Wednesday in the insurance holding company's debut on the New York Stock Exchange. U.S. Facilities, which began trading on the NYSE under the symbol UF, closed at $18.375, up 19 cents from its closing price Tuesday on the Nasdaq market.
BUSINESS
May 24, 1996
A group including Kramer Spellman L.P. has raised its stake in US Facilities Corp. to 7.27%. In a filing with the Securities and Exchange Commission, the group said it bought 80,000 shares of common stock between March 29 and May 21 at prices ranging from $17 to $18.56 a share, and now holds 417,500 shares of the Costa Mesa medical and casualty insurance company.
BUSINESS
May 9, 1996 | James S. Granelli
George Kadonada walked away from his job as chief executive of US Facilities Corp. last year with nearly $1.6 million in cash and property, according to the company's recent proxy. Kadonada, who parted ways with the Costa Mesa medical and casualty insurer amid a hostile takeover attempt, received more than three times the amount believed paid when the company said it would take a $500,000 charge to pay for his severance package.
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