Financial Information of Registrant (Parent Company)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Financial Information of Registrant (Parent Company)

FIRST ACCEPTANCE CORPORATION AND SUBSIDIARIES

SCHEDULE II. FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

(in thousands)

	December 31,
Balance Sheets	2014		2013
Assets:
Investment in subsidiaries, at equity in net assets	$	126,494	$	108,356
Cash and cash equivalents		15,836		8,578
Deferred tax asset		7,965		94
Other assets		2,274		2,262
	$	152,569	$	119,289
Liabilities:
Debentures payable	$	40,341	$	40,301
Other liabilities		5,264		2,055
Stockholders’ equity		106,964		76,932
	$	152,569	$	119,289

	Year Ended December 31,
	2014			2013			2012
Statements of Operations
Investment income	$	61		$	52		$	93
Equity in income (loss) of subsidiaries, net of tax		23,804			11,657			(6,830	)
Expenses		(2,887	)		(2,529	)		(2,303	)
Income (loss) before income taxes		20,978			9,180			(9,040	)
Benefit for income taxes		(7,090	)		—			—
Net income (loss)	$	28,068		$	9,180		$	(9,040	)

	Year Ended December 31,
Statements of Cash Flows	2014		2013			2012
Cash flows from operating activities:
Net income (loss)	$	28,068	$	9,180		$	(9,040	)
Equity in income (loss) of subsidiaries, net of tax		(23,804)		(11,657	)		6,830
Stock-based compensation		185		243			604
Deferred income taxes		(7,871)		(2	)		1
Other		30		(4	)		(6	)
Change in assets and liabilities		3,197		790			792
Net cash used in operating activities		(195)		(1,450	)		(819	)
Cash flows from investing activities:
Dividends from subsidiary		7,425		6,635			5,150
Maturities of investments, available-for-sale		—		—			3,518
Improvements to foreclosed real estate		(2)		(2	)		(2	)
Investments in subsidiaries		(44)		—			(13,000	)
Net cash provided by investing activities		7,379		6,633			(4,334	)
Cash flows from financing activities:
Net proceeds from issuance of common stock		74		51			52
Net cash provided by (used in) financing activities		74		51			52
Net increase in cash and cash equivalents		7,258		5,234			(5,101	)
Cash and cash equivalents, beginning of year		8,578		3,344			8,445
Cash and cash equivalents, end of year	$	15,836	$	8,578		$	3,344