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    David Scharf

    Managing Director and Senior Equity Research Analyst at JMP Securities

    David Scharf is a Managing Director and Senior Equity Research Analyst at Citizens JMP, a division of Citizens Capital Markets and Advisory, specializing in financials with a focus on financial processing and credit services companies. He covers and issues ratings on firms such as PRA Group, Affirm, Synchrony Financial, Pagaya Technologies, and Jernigan Capital, with a professional track record including a 50% success rate and an average return of approximately -4.6% according to recent analyst ranking platforms. Scharf began his tenure at JMP Securities in January 2001, previously gaining experience in financial processing and outsourcing industry coverage; he has since led research teams and contributed to major sector analyses. He holds industry licenses and FINRA securities registrations relevant to his senior analyst role.

    David Scharf's questions to FirstCash Holdings (FCFS) leadership

    David Scharf's questions to FirstCash Holdings (FCFS) leadership • Q1 2016

    Question

    In a follow-up, David Scharf of JMP Securities sought clarification on the timeline for entering Peru and Colombia, the expected combined tax rate, and the future of the remaining non-pawn operations.

    Answer

    Chairman and CEO Rick Wessel clarified that Colombia is the top priority for a de novo entry and estimated a pro forma tax rate of 34-35%. President and CEO Brent Stuart added that non-pawn operations would be a de minimis part of the business going forward (around 6% of revenue) and would be maintained but not expanded.

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