SOURCE: Surety Capital Corporation

Surety Capital Corporation

April 14, 2011 09:45 ET

Surety Capital First Quarter Earnings Reported

FORT WORTH, TX--(Marketwire - Apr 14, 2011) - Surety Capital Corp. (PINKSHEETS: SRYP) announces its first quarter ended March 31, 2011 financial results. Surety's Chairman of the Board and CEO Ralph Mendoza stated "Surety's net income for the quarter was $13,018.31. This is the first time in many years that Surety has had a net income from its ordinary business operations. Our acquisition of Herrera Financial Company has proven to be very successful."

Surety finalized the acquisition of Herrera Financial Company's customer list, web-site, systems and name as of December 31, 2010. Herrera Financial is a leading insurance assignment company operating throughout the United States. Veronica Herrera established Herrera Financial in 2007 to provide insurance assignment financing primarily for Hispanic funeral homes.

CEO, Chairman Mendoza stated, "Business looks good for the remainder of the year. We are still looking to expand our Hispanic business as it is the fastest growing segment in America. Herrera has shown favorable results in expanding on our business plan of serving the Hispanic market. In fact the recent census shows Texas' population growing by over 20% during the past 10 years with Hispanics accounting for a substantial amount of that growth."

Chairman Mendoza stated that Surety is exploring opportunities to allow Herrera's clients to participate in the future growth of this publicly held corporation. Chairman Mendoza stated, "We hope to provide a unique rewards program that no other company offers. We are excited over the prospect that our clients will have an additional way to profit from the business they transact with us. This plan will be announced shortly."

Forward-Looking Statement
This release contains forward-looking statements that reflect Surety's plans and expectations. In this press release and related comments by Company management, words like "hope," "profit," "leading," "opportunity," "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Contact Information

  • Media Contact
    Chairman Ralph Mendoza
    Email: Email Contact
    Tel. (817) 984-8808