Arcadia Financial Ltd. - AAC- Profile

Arcadia Financial Ltd. is a public consumer finance company which purchases, securitizes and services automobile loans. These loans are mainly originated by new car dealers affiliated with foreign and domestic manufacturers. The company provides financing facilities to the customers of automobile dealers for purchases of trucks and used automobiles. At present the company has purchased loans from dealers through 17 buying centers in 14 states. The company became publicly held in January 1992. The company has spent approximately $0.8 million towards year 2000 expenses till date. Commission and fees accounted for 35% of 1999 revenues; interest income, 34% and gain on sale of loans, 31%.