Consumer Portfolio Services, Inc. · NASDAQ:CPSS
Consumer Portfolio Services — Investor Presentation (October 2005)
18 slides from Consumer Portfolio Services's investor presentation, Oct 11, 2005
Slide 1: Consumer Portfolio Services, Inc. Historical Timeline of Significant Events
Consumer Portfolio Services, Inc. Historical Timeline of Significant Events Nasdaq: CPSS
Slide 2: Cautionary Statement
Cautionary Statement Information included in the following slides is believed to be accurate, but is not necessarily complete. Any person considering an investment in securities issued by CPS is urged to review the materials filed by CPS with the U.S. Securities and Exchange Commission ("Commission"
Slide 3: 1991: Founded March 1991
Founded March 1991AcquiredG&A Financial Appointed servicer of RTC portfolios, $16.5 million Flow purchase program with GECCYTD $1.4 mm contracts purchased 1991
Slide 4: 1992: IPO and GECC commitment fulfilled
YTD $16.1 mm contracts purchased IPO -$5.0 mm for 20% of Company1992GECC commitment fulfilled
Slide 5: 1993 timeline
1993 $2.0 mm convertible note issued to institutional investor 5YTD $35.9 mm contracts purchased $50.0 mm contract purchase commitment from institutional investor -“A” rated ABS structures $3.0 mm convertible note issued to institutional investor A second $50.0 mm contract purchase commitment from i
Slide 6: 1994 timeline
$24.0 mm “AAA”ABS insured by FSA (the Company’s first)$13.1 mm ABS$28.9 mm ABS1994 $50 mm warehouse facility with GECC $28.9 mm ABS YTD $132.0 mm contracts purchased Managed portfolio = $168.4 mm
Slide 7: 1995 timeline
$20.0 mm public RISRs1995 YTD $192.5 mm contracts purchased Managed portfolio = $288.9 mm$56.5 mm ABS (first “B” Piece)$100.0 mm warehouse with GECC$20.1 mm ABS$51.9 mm ABS$47.4 mm ABS$13.3 mm secondary equity offering
Slide 8: 1996 timeline
$88.9 mm ABS(first public issuance)2 for 1 stock split1996 $92.9 mm ABS $67.1 mm ABS $92.1 mm ABS YTD $351.4 mm contracts purchased Managed portfolio = $505.9 mm
Slide 9: 1997 timeline
Est. servicing branch in Chesapeake, VA 1997 $119.4 mm ABS $150.0 mm warehouse with First Unionv $105.9 mm ABS $95.7 mm ABS $102.3 mm ABS $20.0 mm public PENs $15.0 mm Stanwich Financial debt $150.0 mm ABS YTD $600.1 mm contracts purchased Managed portfolio = $902.7 mm
Slide 10: 1998 timeline
10YTD $1.1 billion contracts purchased Managed portfolio = $1.5 billion$187.0 mm ABS$211.0 mm ABS$240.3 mm ABS$310.0 mm ABS$33.0 mm residual financing Cross collateralized ABS hit default levels -Cash releases suspended Equity downgraded; Stock to $2.00Global financial crisis temporarily cripples AB
Slide 11: 1999 timeline
1999YTD $424.4 mm contracts purchased Managed portfolio = $821.0 mm Approx. $420 mm sold, servicing released$5.0 mm new LLCP debt; 1.3 mm warrants$318.0 mm contract sale to GECC at discount; servicing released GECC & First Union warehouse lines terminatedFairlane low purchase program start FSA agree
Slide 12: 2000 timeline
2000 YTD $81.0 mm spread cash released YTD $607.0 mm contracts purchased Managed portfolio = $411.9 mm Approx. $600 mm sold, servicing released$16.0 mm new LLCP debt Nuvell flow purchase program starts Residual facility paid off CPS named in Stanwich Financial litigation$75.0 mm warehouse facility w
Slide 13: 2001 timeline
2001YTD $672.3 mm contracts purchased Managed portfolio = $285.5 mm Approx. $ 535 mm sold, servicing released YTD $43.7 mm spread cash released$8.0 mm debt repurchase from LLCP & Stanwich Financial Nuvel program terminated$82.6 mm ABS, insured by FSA, marks return to ABS market
Slide 14: 2002 timeline
2002 $99.3 mm ABS YTD $463.3 mm contracts purchased Managed portfolio = $595.2 mm Approx. $180 mm sold, servicing released Acquired MFN for $123.2 mm($380.0 mm portfolio)Fairlane program terminated$100.0 mm additional warehouse with West LB & XL Capital$55.0 mm ABS$130.5 mm ABS; (first XL Capital de
Slide 15: 2003 timeline
2003 Change in ABS structures to eliminate gain on sale in favor of portfolio accounting YTD $357.3 mm contracts purchased Managed portfolio = $741.1 mm Acquired TFC for $23.7 mm($150.0 mm portfolio)$25.0 mm new LLCP debt$87.5 mm ABS$145.4 mm ABS$109.0 mm ABS$75.0 mm ABS
Slide 16: 2004 timeline
2004Acquired SeaWest assets for $63.2 mm($75.0 mm portfolio)$25.0 mm new LLCP debt$100.0 mm ABS $82.1 mm ABS $96.4 mm ABS $92.8 mm ABS insured by Radian & XL Capital(TFC & SeaWest) $120.0 mm ABS Stanwich Financial debt repaid; Settling primary claims in CA litigation $44.0 mm “BBB” rated residual AB
Slide 17: 2005 timeline
2005 First profitable quarter since change in ABS structures to portfolio accounting $137.4 mm ABS Settlement of Stanwich Financial BK claim in CA$100.0 mm Renewable Note registration $137.5 mm ABSYTD $298.1 mm contracts purchased Managed portfolio = $966.2 mm
Slide 18: Consumer Portfolio Services, Inc.
Consumer Portfolio Services, Inc.Nasdaq: CPSS
Consumer Portfolio Services — Investor Presentation (October 2005) on 6ix