Financial Information of Registrant (Parent Company)

12 Months Ended

Dec. 31, 2016

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	2016		2015
Assets:
Investment in subsidiaries, at equity in net assets	$	112,479	$	132,430
Cash and cash equivalents		3,457		8,095
Loan to wholly-owned subsidiary		23,610		30,010
Deferred tax asset		25,828		8,649
Other assets		1,655		2,142
	$	167,029	$	181,326
Liabilities:
Debentures payable	$	40,302	$	40,256
Term loan from principal stockholder		29,779		29,753
Other liabilities		24,460		7,647
Stockholders' equity		72,488		103,670
	$	167,029	$	181,326

	Year Ended December 31,
Statement of Operations	2016			2015			2014
Interest income	$	2,283		$	1,328		$	61
Equity in (loss) income of subsidiaries, net of tax		(27,428	)		(441	)		23,804
Expenses		(4,508	)		(4,238	)		(2,887	)
(Loss) income before income taxes		(29,653	)		(3,351	)		20,978
Benefit for income taxes		(371	)		(1,421	)		(7,090	)
Net (loss) income	$	(29,282	)	$	(1,930	)	$	28,068

	Year Ended December 31,
Statement of Cash Flows	2016			2015			2014
Cash flows from operating activities:
Net (loss) income	$	(29,282	)	$	(1,930	)	$	28,068
Equity in (income) loss of subsidiaries, net of tax		27,428			441			(23,804	)
Stock-based compensation		207			144			185
Deferred income taxes		(17,179	)		(684	)		(7,871	)
Other		95			(203	)		28
Change in assets and liabilities		17,300			2,385			3,197
Net cash (used in) provided by operating activities		(1,431	)		153			(197	)
Cash flows from investing activities:
Dividends from subsidiary		1,225			2,025			7,425
Loan to wholly-owned subsidiary		6,400			(30,010	)		—
Investments in subsidiaries		(10,900	)		(10,000	)		(44	)
Net cash (used in) provided by investing activities		(3,275	)		(37,985	)		7,381
Cash flows from financing activities:
Proceeds from term loan from principal stockholder		—			30,000			—
Net proceeds from issuance of common stock		68			91			74
Net cash provided by financing activities		68			30,091			74
Net change in cash and cash equivalents		(4,638	)		(7,741	)		7,258
Cash and cash equivalents, beginning of period		8,095			15,836			8,578
Cash and cash equivalents, end of period	$	3,457		$	8,095		$	15,836