Daily News: January 22, 2014

SFG Finance Achieves 30% Year-Over-Year Growth

SFG Finance announced its portfolio grew 30% over the last year. The majority of this increase came from the company’s subprime flow program — an initiative in which independent, indirect auto lenders originate and immediately pass through auto loans that meet SFG Finance’s program guidelines.

“We are thrilled to see our flow program contribute to such extraordinary growth in our auto loan portfolio,” said Adrienne Schlitz, SVP of portfolio acquisitions at SFG Finance. “In 2014, we look forward to a similar pace of expansion with more new partners. Our flow program is a natural fit for lenders looking for a reliable, consistent funding source, as well as a strategy to expand their buying power without the need for additional infrastructure.”

SFG Finance recently unveiled a new custom scorecard for analysis of its bulk portfolio acquisitions. “Our updated scorecard allows for even greater flexibility and more competitive pricing in the marketplace,” Schlitz said.

This year, SFG Finance plans to further diversify its portfolio among auto lenders, buy-here-pay-here auto dealers, credit unions, banks and other financial institutions nationwide. The company will focus on partners who desire an entrepreneurial, flexible approach; superior execution; and one of the most seasoned leadership teams in the industry.

Based in Arlington, TX, SFG Finance is an active purchaser of auto finance receivables. SFG Finance is owned by Southside Bank, a wholly owned subsidiary of Southside Bancshares, a $3.5 billion publicly traded bank holding company.