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Mixed Results for First American

Santa Ana-based First American Financial Corp. reported title insurance and acquisitions boosted fourth-quarter revenue 11% to $1.5 billion.

Net income slipped to $81 million from $81.6 million in the same period a year earlier. The results included an expense of $66.3 million for the first phase of the company’s pension plan termination.

Both the housing industry and the general economy should continue to improve in 2017 and benefit the company, Chief Executive Dennis Gilmore said in a statement.

Revenue from title insurance and services increased 10% to $1.4 billion, the statement said. Information and other revenue, which consist of fees associated with title search and related reports, climbed 17% to $188.9 million, aided by recent acquisitions of Forsythe Appraisals, RedVision and TD Service Financial.

First American shares were flat in recent trading and have climbed about 7.7% this year.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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