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At March 31 2009 the allowance for loan losses totaled$5435000 or 1

June 14, 2010 by admin  
Filed under Entertainment

At March 31, 2009, the allowance for loan losses totaled$5,435,000 or 1.82% of total loans outstanding versus $4,951,000 or 1.64% oftotal loans outstanding at December 31, 2008, and $4,720,000 or 1.51% of totalloans outstanding at March 31, 2008. Noninterest income totaled $1,645,000 for the first quarter of 2009, down 7%from $1,765,000 in the year-earlier quarter, reflecting primarily lower servicecharges on deposit accounts. Noninterest expense for the first quarter of 2009declined 6% to $4,115,000 from $4,356,000 in the first quarter of 2008,resulting primarily from lower salaries and employee benefits due to a reductionin employee headcount over the past year, lower advertising and marketingexpense, and reduced legal and professional costs. For informational purposes and to provide a greater understanding of the Company`s businesses. Management believes that information provided with this level of detail is meaningful and useful in understanding the activities and business metrics of the Company`s operations.

(Note: the Company did not commence business in the cardservices distribution channel until the third quarter of 2008) CASH AMERICA INTERNATIONAL, INC. The Company acquires aparticipation interest in the cash advance receivables generated through this program. Cash advance fees associated with the Company`s card services activities include revenue from the Company`s participation interest in the receivablesgenerated by the third party lender, as well as marketing, processing and other miscellaneous fee income. Management believes that information provided with this level of detail is meaningful and useful in understanding theactivities and business metrics of the Company`s operations. Each non-GAAPfinancial measure is provided immediately following its most comparable GAAPamount and can be reconciled to its most comparable GAAP amount through the presentation of the financial information above.(b) Cash advances written by third-party lenders that were arranged by the Companyon behalf of the third-partylenders.(c) Includes (i) cash advances written by the Company, and (ii) cash advances written by third-party lenders that were arranged by the Company on behalf of the third-party lenders.(d) Amounts recorded in the Company`s consolidated financial statements.(e) Cash advances issued by a third-party lender utilizing the Company as a processor to process these cash advances under a line of credit offered on certainstored-value and payroll cards issued by such lender. For informational purposes and to provide a greaterunderstanding of the Company`s businesses.

AND SUBSIDIARIES FINANCIAL AND OPERATING DATA (Continued)($ in thousands unless otherwise noted)Three Months Ended March 31,2009 2008Average check cashed (not in thousands) – Company-owned locations:Check cashing segment $461 $416 Cash advance segment 691606 Pawn lending segment 520557 Combined company-owned locations 641575 Franchised locations – check cashing segment (a) 544517 Combined average check cashed (a) $560 $527 (a) Non-GAAP presentation. stockholders` equity 596,345 519,115 575,041Noncontrolling interest 4,891 – 4,694Total stockholders’ equity601,236 519,115 579,735Total liabilities and stockholders` equity $1,129,612$919,885$1,186,510CASH AMERICA INTERNATIONAL, INC. $23,911 $ 25,811Earnings Per Share: Net Income attributable to Cash America International, Inc. common stockholders:Basic $0.80 $ 0.88Diluted $0.79 $ 0.86Weighted average common shares outstanding: Basic29,770 29,376Diluted30,419 29,995Dividends declared per common share $0.035$ 0.035 CASH AMERICA INTERNATIONAL, INC.

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