Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

First National Financial Corporation (T:FN)

Business Focus: Corporate Financial Services (NEC)

Sector:  Financials Industry:  Corporate Financial Services
 
Company Contact
Address: 16 York Street, Suite 1900
TORONTO ON M5J 0E6
Tel: N/A
Website: https://www.firstnational.ca
IR: See website
Key People
Stephen J. R. Smith
Executive Chairman of the Board, Co-Founder
Jason Ellis
President, Chief Executive Officer, Director
Robert Inglis
Chief Financial Officer
Moray Tawse
Executive Vice President, Secretary, Director
Hilda W. Wong
Senior Vice President, General Counsel of First National
Thomas Kim
Senior Vice President, Managing Director - Capital Markets
Scott McKenzie
Senior Vice President - Residential Mortgages of First National
Jeremy Wedgbury
Senior Vice President - Commercial Mortgages of First National
 
Business Overview
First National Financial Corporation is a Canada-based parent company of First National Financial LP, which is an originator, underwriter, and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. The Company operates through two segments: Residential and Commercial. The Residential segment include single-family residential mortgages. The Commercial segment include multi-unit residential and commercial mortgages. The Company provides mortgage financing solutions to the residential and commercial mortgage markets in Canada. It provides underwriting and fulfilment processing services to two mortgage originators using the mortgage broker distribution channel. The Company services virtually all mortgages generated through its mortgage origination activities on behalf of a wide range of institutional investors.
Financial Overview
For the fiscal year ended 31 December 2023, First National Financial Corp revenues increased 29% to C$2.02B. Net income applicable to common stockholders increased 28% to C$249M. Revenues reflect Residential segment increase of 30% to C$1.45B, Commercial segment increase of 24% to C$569.9M. Net income was partially offset by Salaries and benefits increase of 4% to C$200.5M (expense), Other operating increase of 7% to C$67.8M (expense).
Employees: 1,686 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $2,024M as of Dec 31, 2023
EBITDA (TTM): $358.07M as of Dec 31, 2023
Net annual income (TTM): $248.95M as of Dec 31, 2023
Free cash flow (TTM): -$302.59M as of Dec 31, 2023
Net Debt Last Fiscal Year: $44,786M as of Dec 31, 2023
Shares outstanding: 59,967,429 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization