First Trinity Financial Corporation
2012 ResultsFirst Trinity Financial Corporation (FTFC) and its two primary subsidiaries, Trinity Life Insurance Company
(TLIC) and Family Benefit Life Insurance Company (FBLIC), continued to show positive results for 2012.
While macroeconomic challenges and a low interest rate environment has effected many industries, including the insurance industry, FTFC increased its assets, expanded its insurance operations and ended the year with positive earnings for the third straight year.
* FTFC declared and paid its second 5% stock dividend to our shareholders.
* FTFC completed its $11,000,000 stock offering at $7.50 per share.
* FBLIC expanded its footprint into seven additional states and is now licensed to conduct business in the states of Arizona, Arkansas, Colorado, Illinois, Indiana, Kansas, Kentucky, Missouri, Nebraska, New Mexico, North Dakota, Oklahoma, Pennsylvania, South Dakota, Texas, and West Virginia.
About the Company
FTFC is an insurance holding company based in Tulsa, Oklahoma. FTFC operates two life insurance companies, Trinity Life Insurance Company (TLIC), Tulsa, Oklahoma and Family Benefit Life Insurance Company (FBLIC), Jefferson City, Missouri. 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 insurance operations began in early 2007, and shortly thereafter our country and the entire financial sector faced tremendous economic challenges and uncertainty. We saw both the bond and stock markets suffer tremendous losses along with the demise of several large financial institutions. As a result, the consumer confidence in our country’s financial institutions was shaken. However in spite of the turbulent economic times, FTFC has achieved tremendous growth. From December 31, 2007 to December 31, 2012, FTFC’s assets grew from $12,529,238 to $165,450,317 an increase of 1,221%, shareholder equity increased from $11,779,815 to $33,722,112, or 186 % during the same period. Statutory premium income from our life insurance operations grew from $972,547 to $22,109,331 by December 31, 2012 an increase of 2,173%.
In 2008 FTFC acquired First Life America Corporation (FLAC) a Kansas based life insurer. FLAC offered both traditional life insurance and fixed annuity products. In 2009 FLAC was re-domesticated to Oklahoma and merged with TLIC. In 2011 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 17 states. It is the goal of the company to continue to expand FBLIC into additional states over the next 12 months.