Message from BCP's Chairman
December 10, 2007
Dear Brooke Capital Corporation Shareholders:
As I noted in a previous letter, 2007 represented a new beginning for Brooke Capital Corporation. A
significant increase in profits to $2.5 million through the first nine months of the year and our company’s
listing on the American Stock Exchange (AMEX:BCP) in August were two achievements that marked this
new beginning.
Brooke Capital Corporation’s new beginning is also illustrated by last month’s merger of Brooke Franchise
Corporation into our company. As a result of the merger, Brooke Capital Corporation now has nearly 500
employees and is a large personal lines insurance broker.
The November merger significantly expanded our company’s management ranks. The Brooke Capital Corporation board of directors elected Kyle Garst as president and chief executive officer, and Dane Devlin as executive vice president and chief operating officer. Mike Hess, a proven rainmaker and experienced executive, remains as vice chairman of our company. As the result of expanding management, my role with our company is now limited to that of non-executive chairman of the board. Together, Mr. Garst, Mr. Devlin and Mr. Hess have 42 combined years of insurance experience with Brooke Corporation or one of its subsidiaries.
The November merger also significantly expanded our company’s insurance activities. Although we had received the required regulatory approvals, from a strategic perspective, we believe it makes sense for Brooke Capital Corporation to focus exclusively on insurance; therefore, our pending acquisition of Brooke Savings Bank is expected to be terminated by mutual agreement. Brooke Savings Bank will remain a subsidiary of our sister company, Brooke Corporation (NASDAQ:BXXX).
In other recent developments, the board of directors of our life insurance subsidiary, First Life America Corporation, elected Chet Stone as director, president and chief executive officer, and Alvin Begnoche vice president, chief marketing officer and treasurer.
Even though I am no longer involved in the day-to-day operations of Brooke Capital Corporation, I remain a significant shareholder and very interested in our company’s future. I have known Kyle Garst, Mike Hess and Dane Devlin for many years and I am confident in their abilities to increase shareholder value.
Happy holidays!
Yours truly,
Robert D. Orr, Chairman
Brooke Capital Corporation
10950 Grandview Drive, Ste 500, Overland Park, KS 66210
(913) 661-0123