BNET Industries

Portfolio Recovery Associates Inc.

(PRAA) is in the Financial Services Industry

Market Cap:$559.8M
Last Fiscal Year Sales:$263.2M
  • Public
  • US
Dow Jones Description

PRA began operations in 1996 and has been a public company since November 2002. Since our initial public offering, we have invested approximately $1 billion in portfolio purchases and our portfolio of purchased consumer debt has increased from $5.1 billion to over $35 billion in face value. We employ over 1,800 people in offices from coast to coast. PRA operates businesses that focus on the following: Debt Purchase: We acquire portfolios of charged-off and bankrupt consumer debt at a discount and seek to collect a multiple of our purchase price over the economic life of a portfolio. Skip Location: We locate collateral and coordinate asset recovery for auto loan issuers and servicers. Government Revenue Administration: For municipalities, we identify and recover sources of revenue, assist with the collection of unpaid debts, conduct taxpayer auditing, and offer complete turn-key, outsourced tax administration. Portfolio Recovery Associates, Inc. common stock is traded on The NASDAQ Global Stock Market under the ticker symbol "PRAA". PRA was a founding member of the American Asset Buyers Association, and is currently a member of ACA International, DBA International, and numerous Chambers of Commerce.

President, CEO, ChairmanSteven D. Fredrickson
Number of Employees 2,032
Contact Information

120 Corporate Blvd

Norfolk, Virginia 23502

www.portfoliore...

(757) 519-9300

NAICS Code Collection Agencies: 561440

Recent Events

  • Collection Agencies Call Up Revenue in Recession

    6/23/09 - Bond / Stock Rating - View Story

  • UPDATE 1-Portfolio Recovery Q1 profit falls 15 pct

    4/28/09 - Financial Announcement - View Story

  • Portfolio Recovery shares rise on in-line Q4 profit

    2/13/09 - Financial Announcement - View Story

News & Analysis

portfolio recovery associates inc. - All News and Analysis

Additional Resources

  • Portfolio Recovery Associates to Present at William Blair Growth Stock Conference

    - 2009-06-09

    Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases, collects and manages portfolios ofdefaulted consumer receivables and provides a broad range of accountsreceivable management services, announced today that Steve Fredrickson,CEO, Kevin Stevenson, CFO and Neal Stern, COO - Owned Portfolios, will bemaking a presentation to the investment community at...

  • Portfolio Recovery Associates to Present at JMP Securities Research Conference

    - 2009-05-19

    Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases, collects and manages portfolios ofdefaulted consumer receivables and provides a broad range of accountsreceivable management services, announced today that Steve Fredrickson,CEO, and Neal Stern, COO - Owned Portfolios, will be making a presentationto the investment community at the JMP Securities...

Decision Makers

Name (plus bio) Position
Kevin P. Stevenson CFO, Chief Admin Officer, Treasurer, Executive Vice President & Assistant Secretary
Neal Stern COO & Senior Vice President
Judith S. Scott Executive Vice President, General Counsel and Secretary
Kent McCammon Senior Vice President
Michael Petit Senior Vice President
William F O Daire Senior Vice President
William O Daire Senior Vice President
Chris Graves Vice President
Claire Arndt Assistant Vice President, Portfolio Acquisitions
Joel Lewis Vice President, Utility Acq
Julie Paulina Assistant Vice President, Healthcare Acquisitions
Luanne Ormsbee Vice President, Bankruptcy Underwriting
Andrew J Holmes Co-Founder
David Roberts Director
Peter A. Cohen Director

Board of Directors

Name (plus bio) Position
Steven D. Fredrickson President, CEO, Chairman
James M. Voss Chairman
Penelope W. Kyle Board of Directors
Scott M Tabakin Board of Directors
William P. Brophey Board of Directors

Array

Organization Position Status
Portfolio Recovery Associates, Inc. President, CEO, Chairman Current
Hrsc Former
Anchor Post Products of Texas, Inc. Former
Federal Deposit Insurance Corporation Former
University of Illinois M.B.A. Degree Former
The Ohio State University B.S.B.A. Former
University of Denver B.S. Degree Former

Prior to co-founding Portfolio Recovery Associates in 1996, Mr. Stevenson served as Controller and Department Manager of Financial Control and Operations Support at Household Recovery Services ("HRSC") from June 1994 to March 1996, supervising a department of approximately 30 employees. Prior to joining HRSC, he served as Controller of Household Bank's Regional Processing Center in Worthington, Ohio where he also managed the collections, technology, research and ATM departments. While at Household Bank, Mr. Stevenson participated in eight bank acquisitions and numerous branch acquisitions or divestitures. He is a certified public accountant and received his B.S.B.A. with a major in accounting from the Ohio State University.

Organization Position Status
Portfolio Recovery Associates, Inc. CFO, Chief Admin Officer, Treasurer, Executive Vice President & Assistant Secretary Current
Portfolio Recovery Associates, Inc. Board of Directors Current
Portfolio Recovery Associates, Inc. Co-Founder Former
Hrsc Controller Former
The Ohio State University B.S.B.A. Former
Organization Position Status
Portfolio Recovery Associates, Inc. COO & Senior Vice President Current
Organization Position Status
Factoring Tip Executive Vice President, General Counsel and Secretary Current
Portfolio Recovery Associates, Inc. Executive Vice President, General Counsel and Secretary Current
Portfolio Recovery Associates, Inc. Board of Directors Current
Factoring Tip Senior Vice President, General Counsel and Secretary Former
The Catholic University of America J.D. Former
Virginia State University B.S. In Business Administration Former
Swarthmore College Degree In Economics Former
Organization Position Status
Portfolio Recovery Associates, Inc. Senior Vice President Current
Organization Position Status
Portfolio Recovery Associates, Inc. Senior Vice President Current
Organization Position Status
Portfolio Recovery Associates, Inc. Senior Vice President Current
Organization Position Status
Portfolio Recovery Associates, Inc. Senior Vice President Current
Organization Position Status
Portfolio Recovery Associates, Inc. Vice President Current
Organization Position Status
Portfolio Recovery Associates, Inc. Assistant Vice President, Portfolio Acquisitions Current
Organization Position Status
Portfolio Recovery Associates, Inc. Vice President, Utility Acq Current
Organization Position Status
Portfolio Recovery Associates, Inc. Assistant Vice President, Healthcare Acquisitions Current
Junior League of Norfolk-Virginia Beach, Inc Vice President Communications Current
Junior League of Norfolk-Virginia Beach, Inc Board of Directors Current
Aca International Inc Board of Directors Current
Bon Secours Depaul Medical Center Former
Indiana University of Pennsylvania BA In Communications Media, Sociology Former
Organization Position Status
Portfolio Recovery Associates, Inc. Vice President, Bankruptcy Underwriting Current
Organization Position Status
Factoring Tip Senior Vice President Administration Current
Portfolio Recovery Associates, Inc. Co-Founder Current

Mr. Voss was appointed as a Director in 2002. Mr. Voss has more than 40 years of prior experience as a senior finance executive. He currently heads Voss Consulting, Inc., serving as a consultant to community banks regarding policy, organization, credit risk management and strategic planning. From 1992 through 1998, he was the executive vice president and chief credit officer of First Midwest Bank. He served in a variety of senior executive roles during his 24 year career (1965-1989) with Continental Bank of Chicago, and was Chief Financial Officer at Allied Products Corporation (1990-1991), a publicly traded (NYSE) diversified manufacturer. Currently, he serves on the board of Elgin State Bank. Mr. Voss has a Bachelor of Science degree from Northwestern University and a MBA from Kellogg School of Management.

Organization Position Status
Portfolio Recovery Associates, Inc. Chairman Current
Portfolio Recovery Associates, Inc. Director Former
Factoring Tip Director Current
Portfolio Recovery Associates, Inc. Committee Member Current
First Midwest Bank chief credit officer Former
First Midwest Bank executive vice president Former
Hrsc Former
NYSE Group, Inc. Former
Northwestern University MBA Former
University of Illinois M.B.A. Degree Former
University of Denver B.S. Degree Former
Organization Position Status
Angelo, Gordon & Co., L.P. Executive Vice President and Director Current
Angelo, Gordon & Co., L.P. Senior Managing Director Current
Portfolio Recovery Associates, Inc. Director Current
Cryptek, Inc. Director Current
Aveta Inc. Director Current
Givology Board of Directors Current
Debtconnection.Com Director Current
Factoring Tip Director Current
Portfolio Recovery Associates, Inc. Committee Member Current
Angelo, Gordon & Co., L.P. Founder Former
The Wharton School of the University of Pennsylvania B.S. Degree Former
Wharton Graduate School of the University of Pennsylvania B.S. Degree In Economics Former
Organization Position Status
Radford University President Former
Portfolio Recovery Associates, Inc. Board of Directors Current
Factoring Tip Director Current
CSX Corporation vice president Former
CSX Corporation officer Former
Virginia Lottery Director Former
University of Virginia Degree Former
Organization Position Status
Ramius Capital Group LLC Founder Current
Tri-Artisan Capital Partners, LLC Current
Ramius Capital Group LLC Chairman Current
Presidential Life Corporation Board of Directors Current
Factoring Tip Director Current
Kroll Inc. Board of Directors Current
Scientific Games Corporation Board of Directors Current
Titan Corporation Board of Directors Current
Ramius Capital Group LLC Managing Member Current
Shearson Ltd Chief Executive Officer Former
Lehman Brothers Holdings Inc. Chief Executive Officer Former
American Express Company chief operating officer Former
Republic New York Corporation Advisor Former
Ramius Capital Group LLC principal Former
Shearson Ltd Chairman Former
Lehman Brothers Holdings Inc. Chairman of the Board Former
Republic New York Corporation Vice Chairman of the Board Former
Scientific Games Corporation Vice Chairman Former
The Ohio State University Bachelor's Degree Former
Organization Position Status
Factoring Tip Director Current
Portfolio Recovery Associates, Inc. Board of Directors Current
Golden Gate National Senior Care Holdings LLC Cfo Former
Amerigroup Corporation Cfo Former
Amerigroup Corporation Executive Vice President Former
Golden Gate National Senior Care Holdings LLC Executive Vice President Former
University of Illinois B.S. Degree In Accounting Former

Mr. Brophey was appointed as a Director in 2002. Mr. Brophey has more than 35 years of experience as President and Chief Executive Officer and member of the Board of Directors of an automotive product and service retailer, Brad Ragan, Inc., a 75% owned public subsidiary of Goodyear Tire and Rubber Company. Mr. Brophey served as Vice President of original equipment tire sales world wide at Goodyear. From 1998 until his retirement in 2000, he served as President and Chief Executive Officer and Vice Chairman of the board of directors of Brad Ragan, Inc. Throughout his career, he held numerous field and corporate positions at Goodyear in the areas of wholesale, retail, credit, and sales and marketing, including the position of General Marketing Manager for commercial tire products. Mr. Brophey holds a business degree from Ohio Valley College and attended advanced management programs at Kent State University, Northwestern University, Morehouse College and Columbia University.

Organization Position Status
Portfolio Recovery Associates, Inc. Board of Directors Current
Factoring Tip Director Current
Portfolio Recovery Associates, Inc. Committee Member Current
The Goodyear Tire & Rubber Company Inc. vice president, original equipment Former
The Goodyear Tire & Rubber Company Inc. vice president, original equipment tire sales Former

Executive News

  • Portfolio Recovery Associates to Present at William Blair Growth

    Market Wire via MSN Money - 6/09/09 - View Story

  • Ramius, Cowen Set Merger

    The Wall Street Journal Interactive Edition - 6/05/09 - View Story

  • Cowen Group to Merge With Ramius, a Hedge Fund

    New York Times - 6/04/09 - View Story

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     PRAA $39.80 -0.64 (-1.58% )
Intraday | 3 Month | 6 Month | 1 Year
Average Volume 149,941
Shares Outstanding 15.34M
Market Cap 610.5M
Year High 52.73
Year Low 19.41
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
IndustryTop Rated

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