First American Financial Corporation Appoints Marsha A. Spence to Board of Directors

Rhea-AI Summary

First American Financial Corporation (NYSE: FAF) announced the appointment of Marsha A. Spence to its board of directors. Spence brings 45 years of industry experience, having led Mother Lode Holding Company through significant growth, increasing its office locations from 35 to 92 since 2001. Her leadership will enhance the board's collective expertise as First American drives digital transformation in the title and settlement sector.

The company reported total revenue of $9.2 billion in 2021 and has been recognized as one of the 100 Best Companies to Work For by Fortune for seven years.

Positive

• Appointment of Marsha A. Spence enhances board expertise.
• Spence's leadership may contribute to further growth in digital transformation initiatives.
• Company's strong revenue of $9.2 billion in 2021 reflects solid financial health.

Negative

• None.

SANTA ANA, Calif.--(BUSINESS WIRE)-- First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, announced today that Marsha A. Spence has been appointed to the company’s board of directors.

Over the course of her distinguished 45-year career in title and settlement, Spence’s skillful leadership has consistently produced high-performing teams and profitable growth at Mother Lode Holding Company, a California-based provider of title insurance, underwriting and escrow services for residential and commercial real estate transactions known for its strong employee-centric culture. Spence has played a key role in driving Mother Lode Holding Company’s substantial growth, expanding its number of offices from 35 when she was named CEO in 2001 to 92 offices across multiple states today.

“I’m very pleased to welcome Marsha to First American’s board,” said Dennis J. Gilmore, chairman of First American Financial Corporation. “Her deep industry knowledge and experience leading a highly successful, forward-looking title business will further augment our strong board, providing valuable insight as the company leads the digital transformation of the title and settlement industry.”

Spence currently serves as chairman of the board of Mother Lode Holding Company. Spence previously held the combined role of chairman and chief executive officer at Mother Lode for 15 years, after ascending to the roles of chief executive officer in 2001 and president in 1997. She joined Placer Title Company, which is now Mother Lode’s principal subsidiary, in 1977. First American acquired Mother Lode and its 17 operating subsidiaries on May 2. Spence also served on the California Land Title Association Board of Governors for 10 years and was president of the board from 2005-2006.

About First American

First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $9.2 billion in 2021, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2022, First American was named one of the 100 Best Companies to Work For by Great Place to Work^® and Fortune Magazine for the seventh consecutive year. More information about the company can be found at www.firstam.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005296/en/

Media Contact:

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

714-250-3298

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

714-250-5214

Source: First American Financial Corporation

FAQ

Who is Marsha A. Spence, and what is her role at First American Financial Corporation?

Marsha A. Spence is appointed to the board of directors of First American Financial Corporation, bringing 45 years of industry experience, notably from her leadership at Mother Lode Holding Company.

What impact could Marsha A. Spence's appointment have on FAF stock?

Her extensive experience in the title industry may enhance First American's board capabilities, potentially leading to better strategic decisions that could positively impact stock performance.

What was First American Financial Corporation's revenue in 2021?

First American Financial Corporation reported total revenue of $9.2 billion in 2021.