Olympia Financial Group Inc. Announces Third Quarter 2017 Results

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CALGARY, Alberta, Nov. 09, 2017 — Olympia Financial Group Inc. (TSX:OLY) today announced its operating and financial results for the three months ended September 30, 2017.The unaudited condensed interim financial statements and notes, as well as management’s discussion and analysis, are now available on SEDAR (www.sedar.com).Results from operations, include the following (compared to the three months ended September 30, 2016):Total revenue, including interest earned as trustee and interest, increased 7% to $11.09 million from $10.38 million due to an increase in service revenue in the Registered Plans division and interest earned as trustee.  Service revenue increased 3% to $8.92 million from $8.65 million due to an increase in the number of mortgages being funded, as well as new client set-ups in the Registered Plans division.Interest revenue on monies held in trust and interest on Olympia’s own cash increased 25% to $2.17 million from $1.74 million as a result of an increase in off-balance sheet arrangements under administration and increases in the Canadian prime rate.Direct and administrative expenses (excluding depreciation and amortization), increased 3% to $8.73 million from $8.48 million.Earnings before income tax remained similar at $2.07 million.About Olympia Financial Group Inc.Olympia Financial Group Inc. (“OFGI”) conducts most of its operations through its wholly- owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia.  Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services.  OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc., operates an ATM business through its wholly-owned subsidiary Olympia ATM Inc. and provides information technology services to the exempt market dealers, registrants and issuers through its subsidiary Exempt Edge Inc.OFGI’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.For further information, please contact:Olympia Financial Group Inc.
Rick Skauge, President and Chief Executive Officer
Gerhard Barnard, Vice-President, Finance and Chief Financial Officer
Phone: (403) 261-0900
Fax: (403) 265-1455

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Brad Bennett

Brad Bennett

Brad grew up in a small town in northern Iowa. He studied chemistry in college, graduated, and married his wife one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children.
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