SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT (PARENT COMPANY ONLY)

12 Months Ended

Dec. 31, 2015

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

December 31, 2015 and 2014

(In thousands)



	2015			2014
Assets
Cash and cash equivalents	$	11,429		$	13,474
Investments in subsidiaries	419,285			482,495
Debt and equity securities	540			10,671
Other assets (intercompany receivable of $19,974 in 2015 and $21,982 in 2014)	20,648			23,523
Total assets	$	451,902		$	530,163

Liabilities and shareholders’ equity
Accounts payable, accrued expenses and other liabilities (intercompany payable of $102,697 in 2015 and $101,767 in 2014)	$	104,077		$	103,269

Common stock, $.001 par value; authorized 100,000 shares, 23,116 issued and 23,038 outstanding at December 31, 2015, and 23,083 issued and 23,005 outstanding at December 31, 2014	23			23
Additional paid-in capital	494,207			491,662
Accumulated deficit	(151,366		)	(69,508		)
Accumulated other comprehensive income	4,961			4,717
Total shareholders’ equity	347,825			426,894
Total liabilities and shareholders’ equity	$	451,902		$	530,163

This statement should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Form 10-K.

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS

For the years ended December 31, 2015, 2014 and 2013

(In thousands, except per share data)



	2015			2014			2013
Revenues:
Investment income (intercompany interest and dividends of $142 in 2015, $75,589 in 2014, and $952 in 2013)	$	948		$	77,124		$	1,035

Expenses:
Expenses (intercompany interest of $2,468 in 2015, $7,389 in 2014, and $7,204 in 2013)	12,735			20,551			17,676
Income (loss) from continuing operations before income taxes	(11,787		)	56,573			(16,641		)
Equity in loss of subsidiaries	(70,071		)	(108,998		)	(5,657		)
Net loss	$	(81,858	)	$	(52,425	)	$	(22,298	)

This statement should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Form 10-K.

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

For the years ended December 31, 2015, 2014 and 2013

(In thousands)



	2015			2014			2013
Operating activities:
Cash used in operating activities	$	(5,997	)	$	(3,439	)	$	(14,823	)

Investing activities:
Proceeds from the sale of debt and equity securities	10,153			6,027			3,162
Purchases of debt and equity securities				(264		)	(1,144		)
Purchases of and advances to subsidiaries	(18,563		)	(8,376		)	(35,118		)
Cash received from the repayment of loans and advances to subsidiaries	12,496			8,909			4,348
Dividends received from subsidiaries				12,088
Purchases of property, plant and equipment	(8		)	(39		)	(37		)
Cash received for sale of property, plant and equipment							24
Net cash provided by (used in) investing activities	4,078			18,345			(28,765		)

Financing activities:
Payment of withholding taxes on exercise of restricted stock units	(126		)	(4,118		)
Cash used in financing activities	(126		)	(4,118		)	—

Net increase (decrease) in cash and cash equivalents	(2,045		)	10,788			(43,588		)
Cash and cash equivalents, beginning of year	13,474			2,686			46,274
Cash and cash equivalents, end of year	$	11,429		$	13,474		$	2,686

Supplemental disclosure of cash flow information:
Cash during the year for:
Refund of federal and state income taxes	$	(3	)	$	(4,127	)

Non-cash investing and financing activities:
Issuance of common stock for vested restricted stock units	$	559		$	7,464
Dividend received from subsidiaries				$	62,600

This statement should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Form 10-K.