Financial Information of Registrant (Parent Company)

12 Months Ended

Dec. 31, 2012

Financial Information of Registrant (Parent Company) [Abstract]

FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

FIRST ACCEPTANCE CORPORATION AND SUBSIDIARIES

SCHEDULE I. FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

(in thousands)

	December 31,
	2012		2011
Balance Sheets
Assets:
Investment in subsidiaries, at equity in net assets	$	108,663	$	109,189
Investments, available-for-sale at fair value		—		3,518
Cash and cash equivalents		3,344		8,445
Other assets		2,361		2,453
	$	114,368	$	123,605
Liabilities:
Debentures payable	$	40,261	$	40,221
Other liabilities		1,315		655
Stockholders’ equity		72,792		82,729
	$	114,368	$	123,605

	Year Ended December 31,			Six Months Ended December 31,			Year Ended June 30,
	2012			2011			2011			2010
Statements of Operations
Investment income	$	93		$	65		$	116		$	119
Equity in income (loss) of subsidiaries, net of tax		(6,830	)		(27,074	)		(49,926	)		13,813
Expenses		(2,303	)		(2,428	)		(6,005	)		(7,206	)
Income (loss) before income taxes		(9,040	)		(29,437	)		(55,815	)		6,726
Provision (benefit) for income taxes		—			—			965			(314	)
Net income (loss)	$	(9,040	)	$	(29,437	)	$	(56,780	)	$	7,040
	Year Ended December 31,			Six Months Ended December 31,			Year Ended June 30,
	2012			2011			2011			2010
Statements of Cash Flows
Cash flows from operating activities:
Net income (loss)	$	(9,040	)	$	(29,437	)	$	(56,780	)	$	7,040
Equity in loss (income) of subsidiaries, net of tax		6,830			27,074			49,926			(13,813	)
Stock-based compensation		604			171			998			1,048
Deferred income taxes		1			2			(98	)		—
Other		(6	)		8			(108	)		(2	)
Change in assets and liabilities		792			(764	)		1,069			4,488
Net cash used in operating activities		(819	)		(2,946	)		(4,993	)		(1,239	)
Cash flows from investing activities:
Dividends from subsidiary		5,150			10,684			7,079			7,670
Maturities of investments, available for sale		3,518			—			—			—
Improvements to foreclosed real estate		(2	)		(2	)		(2	)		(22	)
Investment in subsidiary		(13,000	)		—			—			—
Net cash provided by (used in) investing activities		(4,334	)		10,682			7,077			7,648
Cash flows from financing activities:
Purchases of treasury stock		—			(10,988	)		—			—
Net proceeds from issuance of common stock		52			23			56			67
Net cash provided by (used in) financing activities		52			(10,965	)		56			67
Net change in cash and cash equivalents		5,101			(3,229	)		2,140			6,476
Cash and cash equivalents, beginning of period		8,445			11,674			9,534			3,058
Cash and cash equivalents, end of period	$	3,344		$	8,445		$	11,674		$	9,534