Financial Information of Registrant (Parent Company)

12 Months Ended

Dec. 31, 2017

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	2017		2016
Assets:
Investment in subsidiaries, at equity in net assets	$	119,517	$	112,479
Cash and cash equivalents		2,310		3,457
Loan to wholly-owned subsidiary		19,610		23,610
Deferred tax asset		14,883		25,828
Other assets		1,671		1,655
	$	157,991	$	167,029
Liabilities:
Debentures payable	$	40,348	$	40,302
Term loan from principal stockholder		29,805		29,779
Other liabilities		23,081		24,460
Stockholders' equity		64,757		72,488
	$	157,991	$	167,029

	Year Ended December 31,
Statement of Operations	2017			2016			2015
Interest income	$	2,944		$	2,283		$	1,328
Equity in income (loss) of subsidiaries, net of tax		3,390			(27,428	)		(441	)
Expenses		(7,180	)		(4,508	)		(4,238	)
Loss before income taxes		(846	)		(29,653	)		(3,351	)
Provision (benefit) for income taxes		7,758			(371	)		(1,421	)
Net loss	$	(8,604	)	$	(29,282	)	$	(1,930	)

	Year Ended December 31,
Statement of Cash Flows	2017			2016			2015
Cash flows from operating activities:
Net loss	$	(8,604	)	$	(29,282	)	$	(1,930	)
Equity in (income) loss of subsidiaries, net of tax		(3,390	)		27,428			441
Stock-based compensation		299			207			144
Deferred income taxes		10,945			(17,179	)		(684	)
Other		71			95			(203	)
Change in assets and liabilities		(1,394	)		17,300			2,385
Net cash (used in) provided by operating activities		(2,073	)		(1,431	)		153
Cash flows from investing activities:
Dividends from subsidiary		850			1,225			2,025
Loan to wholly-owned subsidiary		4,000			6,400			(30,010	)
Investments in subsidiaries		(4,000	)		(10,900	)		(10,000	)
Net cash (used in) provided by investing activities		850			(3,275	)		(37,985	)
Cash flows from financing activities:
Proceeds from term loan from principal stockholder		—			—			30,000
Net proceeds from issuance of common stock		76			68			91
Net cash provided by financing activities		76			68			30,091
Net change in cash and cash equivalents		(1,147	)		(4,638	)		(7,741	)
Cash and cash equivalents, beginning of period		3,457			8,095			15,836
Cash and cash equivalents, end of period	$	2,310		$	3,457		$	8,095