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First Acceptance Corporation Reports Operating Results for the Quarter Ended March 31, 2021 and Announces Special Dividend

First Acceptance Corporation Reports Operating Results for the Quarter Ended March 31, 2021 and Announces Special Dividend ACCESSWIRE 05 May 2021, 06:19 GMT+10 NASHVILLE, TN / ACCESSWIRE / May 4, 2021 / First Acceptance Corporation (OTCQX: FACO) today reported its financial results for the quarter ended March 31, 2021. A quarterly report can be found at www.otcmarkets.com/stock/FACO/disclosure. Income before income taxes, for the three months ended March 31, 2021 was $2.7 million, compared with loss before income taxes of $2.3 million for the three months ended March 31, 2020. Net income for the three months ended March 31, 2021 was $2.1 million, compared with net loss of $1.8 million for the three months ended March 31, 2020. Diluted net income per share was $0.05 for the three months ended March 31, 2021 compared with diluted net loss per share of $0.04 for the for the three months ended March 31, 2020.

First Acceptance Corporation Reports Operating Results for the Quarter and Year Ended December 31, 2020

First Acceptance Corporation Reports Operating Results for the Quarter and Year Ended December 31, 2020
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AM Best Upgrades Credit Ratings of First Acceptance Corporation and Its Subsidiaries

Share: AM Best has upgraded the Financial Strength Rating (FSR) to B (Fair) from B- (Fair) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to bb from bb- of the subsidiaries of First Acceptance Corporation (collectively referred to as First Acceptance) (Delaware) (OTCQX:FACO). (See below for a detailed list of companies). Concurrently, AM Best has upgraded the Long-Term ICR to b- from ccc+ of First Acceptance Corporation. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect First Acceptance s balance sheet strength, which AM Best categorizes as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.

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