First Trinity Financial Corporation Announces Operating Results for Year Ended December 31, 2011
March 23, 2013
Form 10-K 12-31-2013 and 2013 Definiite Proxy 2012 forms Click here to view
March 16, 2012
First Trinity Financial Corporation today reported operating results for the year ended December 31, 2011. For the year ended December 31, 2011, net income increased to $7,359,993 compared to $91,336 for the year ended December 31, 2010...read more...
First Trinity Financial Corporation (FTFC) is a financial holding company with its home office in Tulsa, Oklahoma.
FTFC has two wholly owned subsidiaries: Trinity Life Insurance Company (TLIC) and First Trinity Capital Corporation (FTCC). In a series of stock offerings FTFC successfully raised $26,475,000 through Private Placement and public stock offerings. FTFC is currently owned by over 4,000 Oklahoma residents. Since inception FTFC has dedicated itself to help stem the outflow of capital from our state by providing a broadly held Oklahoma financial services corporation offering innovative, attractive and competitive financial products and financial services.
Our premium finance and life insurance subsidiaries began operations in early 2007, and shortly thereafter our country and the entire financial sector faced tremendous economic challenges and uncertainty. We have seen both the bond and stock market suffer tremendous losses along with the demise of several large financial institutions. As a result, the consumer confidence in our country’s financial institutions has been shaken. However in spite of these turbulent economic times, FTFC has achieved tremendous growth. From December 31, 2007 to March 31, 2012, FTFC’s assets grew from $12,529,238 to $155,000,745 an increase of 1,137%, while shareholder equity increased from $11,779,815 to $30,436,490 or 158 % during the same period. Statutory premium income from our life insurance operations grew from $972,547 to $21,813,172 by December 31, 2011 an increase of 2,143%.
In 2011 FTFC’s wholly owned subsidiary TLIC acquired Family Benefit Life Insurance Company, (FBLIC) a 47 year old life insurance company in Jefferson City, MO. With the acquisition of FBLIC our combined insurance operations now reach across 12 states. It is the goal of the company to expand FBLIC into an additional 13 states over the next18 months.
To enhance our ability to meet our goals, FTFC plans to raise additional capital. In July 2012 intends to begin to raise an additional $5,000,000 through a private placement offering in the states of Kansas and Missouri.