| Cash Flow for United PanAm Financial Corp. (UPFC) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 10,586 | 19,745 | 26,998 | 19,922 | 13,275 | | Provision for Loan Loss | 69,764 | 46,800 | 31,166 | 25,516 | 17,737 | | Depreciation & Amortization | 2,385 | 1,963 | 1,609 | 2,843 | 4,724 | | Deferred Income Taxes | - | - | - | (13,957) | 4,560 | | Change in Assets (Receivables) | (5,107) | (9,062) | 4,369 | 10,671 | (9,725) | | Change in Liabilities (Payables) | (1,317) | 2,171 | 647 | 1,998 | (1,750) | | Investment Securities Gain | - | - | (3,447) | (1,010) | (506) | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | - | - | - | - | - | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | (26,646) | (23,139) | (19,736) | (9,221) | (5,038) | | Net Cash from Operating Activities | 49,665 | 38,478 | 41,606 | 36,762 | 23,277 | | | | Proceeds from Sale/Mat. Inv. | - | - | 783,668 | 828,750 | 768,230 | | Purchase of Investment Securities | - | - | (478,186) | (423,914) | (1,371,779) | | Net Increase Fed. Funds Sold | - | - | - | - | (9,750) | | Purchase of Property & Equipment | (4,150) | (3,116) | (1,899) | (1,717) | (1,582) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | (138,242) | 340,277 | (80,480) | (138,304) | (115,904) | | Net Cash from Investing Activities | (142,392) | 337,161 | 223,103 | 264,815 | (730,785) | | | Net Change in Deposits | - | - | (71,916) | (426,473) | 29,931 | | Cash Dividends paid | - | - | - | - | - | | Repayment of Long Term Debt | (962,816) | (794,286) | (666,844) | (67,436) | - | | Change in Short Term Debt | - | - | (286,410) | (306,910) | 667,581 | | Issuance of Long term Debt | 1,062,349 | 917,001 | 788,126 | 521,776 | - | | Issuance of Preferred Stock | - | - | - | - | 10,000 | | Issuance of Common Stock | 278 | 1,523 | 5,722 | 4,223 | 651 | | Purchase of Treasury Stock | (13,188) | (19,437) | - | - | - | | Other Financing Activities | (4,949) | (473,441) | (16,329) | (36,729) | - | | Cash from Financing Activities | 81,674 | (368,640) | (247,651) | (311,549) | 708,163 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | (11,053) | 6,999 | 17,058 | (9,972) | 655 | | | Cash at Beginning of Period | 28,294 | 21,295 | 4,237 | 14,209 | 13,554 | | Cash at End of Period | 17,241 | 28,294 | 21,295 | 4,237 | 14,209 | | | |
