Footnotes

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549	OMB Number: 3235-0060 Expires: February 28, 2013 Estimated average burden hours per response........5.68
FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 9, 2012
Presidential Life Corporation (Exact name of registrant as specified in its charter)
Delaware 000-05486 13-2652144 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)
69 Lydecker Street Nyack, New York 10960 (Address of principal executive offices) (Zip Code)
(845) 358-2300
Registrant’s telephone number, including area code
(Former name or former address, if changed since last report.)

UNITED STATES

~~Check~~SECURITIES ~~the~~AND ~~appropriate~~EXCHANGE ~~box~~COMMISSION ~~below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):~~

[WASHINGTON, ]DC ~~Written~~20549 ~~communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)~~

[FORM ~~] Soliciting material pursuant to Rule 14a~~8-~~12 under the Exchange Act (17 CFR 240.14a-12)~~K

[CURRENT ]REPORT ~~Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))~~

[Pursuant ~~] Pre-commencement communications pursuant~~ to ~~Rule~~Section 13 ~~13e-4~~OR 15(cd) ~~under~~of the ~~Exchange Act (17 CFR 240.13e-4(c))~~

~~Item~~Securities ~~2.02~~Exchange Act of 1934

~~Results~~Date of ~~Operations~~report ~~and~~(Date ~~Financial~~of ~~Condition~~earliest event reported): December 20, 2012

OnPRESIDENTIAL ~~November~~LIFE 9,CORPORATION 2012, Presidential Life Corporation (the “Company”) issued a press release announcing the Company’s financial results for its third quarter ended September 30, 2012. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

~~The information included in this Current Report on Form 8-K~~ (~~including~~Exact ~~Exhibit~~Name ~~99.1 hereto) that is furnished pursuant to this Item 2.02 shall not be deemed to be “filed” for the purposes~~ of ~~Section~~Registrant ~~18 of the Securities Exchange Act of 1934,~~ as ~~amended,~~Specified ~~or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, the information included~~ in ~~this~~its ~~Current Report on Form 8-K (including Exhibit 99.1 hereto~~Charter) that is furnished pursuant to this Item 2.02 shall not be incorporated by reference into any filing of the Registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference into such filing.

Item 9.01 Financial Statements and Exhibits

Delaware

000-05486

13-2652144

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

~~(d) Exhibits:~~69 Lydecker Street

~~99.1 Press~~Nyack, ~~Release~~New ~~entitled~~York ~~“Presidential~~10960 ~~Life Corporation Announces Third Quarter 2012 Results” issued by Presidential Life Corporation on November 9, 2012.~~

~~SIGNATURES~~(Address of Principal executive offices, including Zip Code)

~~Pursuant~~(845) to358-2300 ~~the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~

(Registrant’s telephone number, including area code)

~~EXHIBIT~~Check ~~INDEX~~the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

~~Exhibit~~¨ Written communications pursuant to Rule 425 under the Securities Act

~~99.1~~¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

~~Press~~¨ ~~Release~~Pre-commencement ~~entitled~~communications ~~“Presidential~~pursuant ~~Life~~to ~~Corporation~~Rule ~~Announces~~14d-2(b) ~~Third~~under ~~Quarter~~the ~~2012~~Exchange ~~Results” issued by Presidential Life Corporation on November 9, 2012.~~Act

~~99.1~~¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

~~Presidential~~Item 5.07 ~~Life~~Submission ~~Corporation~~of ~~Announces~~Matters ~~Third~~to ~~Quarter~~a ~~2012~~Vote ~~Results~~of Security Holders.

-Presidential ~~Reports~~Life ~~third~~Corporation ~~quarter~~(the “Company”) held a Special Meeting of Shareholders on December 20, 2012 ~~EPS~~to consider and vote on (i) a proposal to adopt the Agreement and Plan of $0Merger, dated as of July 12, 2012, by and among Athene Annuity & Life Assurance Company, an insurance company organized under the laws of the State of Delaware (“Athene”), Eagle Acquisition Corp.18, ~~compared~~a Delaware corporation and wholly owned subsidiary of Athene (“Merger Sub”), and the Company, as it may be amended from time to ~~$0.10~~time (the “Merger Agreement”), pursuant to which (and subject to the conditions set forth therein) Merger Sub will merge with and into the Company (the “Merger”) and (ii) a proposal to approve, on a non-binding advisory basis, certain compensation arrangements for the ~~third~~Company’s named ~~quarter~~executive ofofficers ~~2011~~in –connection with the Merger.

~~Nyack,~~Each ~~N.Y.~~proposal ~~(November~~is 9,described ~~2012)~~in —detail ~~Presidential~~in ~~Life~~the ~~Corporation~~Company’s ~~(“Presidential~~definitive ~~Life”~~proxy statement, orwhich ~~the~~was ~~“Company”)~~filed ~~(NASDAQ:~~with ~~PLFE)~~the ~~today~~Securities ~~announced~~and ~~results~~Exchange ~~for~~Commission (the ~~third~~“SEC”) ~~quarter~~ and ~~nine~~first ~~months~~mailed ~~ended~~to ~~September~~the 30Company’s shareholders on November 15, 2012~~. Presidential Life~~, ~~through~~as ~~its~~supplemented ~~wholly~~by ~~owned~~the ~~subsidiary,~~supplement ~~Presidential~~to ~~Life~~the ~~Insurance~~proxy ~~Company~~statement, iswhich ~~engaged~~was infiled with the ~~sale~~SEC ~~of individual fixed deferred~~ and ~~immediate~~first ~~annuities,~~mailed ~~life~~to ~~insurance~~the ~~and~~Company’s ~~accident~~shareholders ~~and~~on ~~health~~December 11, ~~insurance products~~2012.

~~Net~~There ~~income~~were ~~for~~present at the ~~nine months ended September 30~~meeting, ~~2012~~either ~~was~~in person ~~$12.1 million~~ or ~~$0.41~~by ~~per share~~proxy, ~~compared with net income of $24.2 million or $0.82 per share for the nine months ended September 30, 2011. Third quarter 2012 net income was $5.2 million or $0.~~18 ~~per share~~,065,427 ~~compared~~shares ~~with net income~~ of ~~$2.9 million or $0.10 per share for~~ the ~~comparable~~Company’s ~~quarter~~common instock ~~2011. Income~~(“Common ~~before~~Stock”) ~~income~~out ~~taxes~~of ~~was~~a ~~$7.9~~total ~~million and $4.4 million for the third quarters~~ of ~~2012 and 2011~~29, ~~respectively~~591,439 ashares ~~period-over-period increase~~ of ~~$3.5~~Common ~~million. The~~Stock, ~~growth~~issued, inoutstanding ~~income~~and ~~before~~entitled ~~income taxes of $3.5 million is principally due~~ to anvote ~~increase~~as inof ~~net~~the ~~realized~~Record ~~gains of $2~~Date.1 ~~million,~~This aconstituted ~~decrease in other-than-temporary-impairment losses (“OTTI”) of $2~~61.805% ~~million and a net decrease in liability for future policy benefits~~ of outstanding ~~$2.1~~Common ~~million,~~Stock ~~partially~~entitled ~~offset~~to byvote anat ~~increase~~the ~~in general expenses of $2~~meeting.1 ~~million~~The ~~and~~vote aresults ~~decrease~~detailed inbelow ~~net~~represent ~~investment~~final ~~spread~~results ofas ~~$1.4~~certified ~~million. Income~~by ~~taxes were $2.8 million and $1.5 million for~~ the ~~third~~Inspector ~~quarter~~ of ~~2012 and 2011, respectively, an increase of $1~~Elections.3 ~~million.~~

~~Total revenues in the third quarter of 2012 were $62.4 million, an increase of 14.~~1~~% or $7~~.7 ~~million~~The ~~from~~proposal ~~$54.7~~to ~~million~~adopt in the ~~third~~Merger ~~quarter 2011~~Agreement. ~~Total~~ ~~revenues for the nine months ended September 30, 2012 were $179.5 million, a decrease of 7.4% or $14.3 million from $193.8 million for the nine months ended September 30, 2011.~~ The ~~increase~~results inare ~~revenues~~as of $7.7 million for the third quarter was principally attributable to the aforementioned increase in net realized investment gains of $2.1 million, lower OTTI losses of $2.8 million and higher annuity considerations. follows:

“The Presidential Life management team remains focused on providing high quality service to its customers as the sale of the Company to Athene Holding Ltd. continues to progress”, said Donald Barnes, Vice Chairman of the Board, CEO and President.


For	Against	Abstain
17,813,786	236,500	15,141

~~Key~~This ~~Items~~proposal ~~for~~was approved at the ~~Third~~special ~~Quarter~~meeting ~~Results~~because the votes cast in favor of the proposal constituted a majority of the outstanding shares of Common Stock on the November 8, 2012 record date.

·2. The proposal to approve, on a non-binding advisory basis, certain compensation arrangements for the Company’s named executive officers in connection with the Merger. The results are as follows:

Our investment spread margin1 totaled 0.69% for the nine months ended September 30, 2012 compared to 0.91% for the nine months ended September 30, 2011. The decline primarily relates to the effect of lower market reinvestment yields on the company’s fixed income portfolio, partly offset by lower OTTI losses in the first nine months of 2012 relative to 2011. Net realized investment gains and OTTI losses tend to fluctuate from period-to-period as a result of changing economic conditions.


For	Against	Abstain
9,620,019	7,246,355	1,199,053

·This proposal was approved because the votes cast in favor of the proposal constituted a majority of the shares of Common Stock present in person or by proxy at the special meeting.

~~Total annuity sales2 were $13.~~Item 8 ~~million and $12~~.~~9 million in the third quarter 2012 and 2011, respectively, an increase of $0~~01.9 ~~million~~Other ~~or 7~~Events.0% ~~compared to 2011 levels as the low interest rate environment continues to challenge sales of fixed annuity products.~~

·On December 20, 2012, the Company issued a press release announcing the results of the Special Meeting, which is attached hereto as Exhibit 99.1 and incorporated herein by reference.

~~Deferred~~It ~~annuity~~is ~~surrenders~~currently ~~were~~expected ~~$28.4~~that ~~million~~the inMerger ~~the~~will ~~third~~close ~~quarter~~on ofDecember 28, 2012, ~~compared~~subject to ~~$24.2~~the ~~million~~satisfaction or ~~for~~waiver of the ~~same~~conditions ~~period~~set forth in ~~2011,~~the aMerger 17Agreement.4% ~~increase~~However, ~~representing~~there ~~average~~can ~~surrender~~be ~~rates~~no ofassurance ~~1.42%~~that ~~and~~the ~~1.30%~~closing ~~for~~of the ~~third~~Merger ~~quarters~~will ofoccur ~~2012~~during ~~and~~that ~~2011,~~time ~~respectively~~period or at all.

·Item 9.01. Financial Statements and Exhibits.

~~Our~~(d) ~~statutory capital base remains strong at September 30, 2012 with our estimated Risk-Based Capital ratio3 at 571% compared with 556% at December 31, 2011.~~Exhibits

Discussion of Third Quarter 2012 and Year-to-Date Financial and Operating Results


Exhibit Number		Description of Exhibit

99.1		Press Release issued by Presidential Life Corporation on December 20, 2012

AsSIGNATURE previously discussed, total revenues were $62.4 million and $54.7 million in the third quarters of 2012 and 2011, respectively, a period-over-period increase of $7.7 million or 14.1%, and were $179.5 million and $193.8 million for the nine months ended September 30, 2012 and 2011, respectively, a decrease of $14.3 million or 7.4%. The increase in the current quarter was largely attributable to an increase in net realized investment gains of $2.1 million, lower OTTI losses of $2.8 million and higher annuity considerations for the quarter. On a year to date basis, the decline of $14.3 million in total revenues is primarily the result of lower net realized capital gains of $15.4 million, largely driven by a gain from one hedge fund redemption of $10.6 million in the second quarter of 2011.

~~Total~~Pursuant ~~insurance~~to ~~revenues were $11.1 million and $7.0 million in~~ the ~~third~~requirements ~~quarters~~ of ~~2012 and 2011, respectively, a period-over-period increase of $4.1 million or 58.6%, and were $29.6 million and $22.2 million for~~ the ~~nine~~Securities ~~months~~Exchange ~~ended September~~Act ~~30, 2012 and 2011, respectively, a period-over-period increase~~ of ~~$7.4 million or 33.3%. Immediate annuity considerations with life contingencies were $5.7 million and $1.6 million in the third quarters of 2012 and 2011~~1934, ~~respectively, a period-over-period increase of $4.1 million or 256.3%, and were $14.2 million and $6.0 million for~~ the ~~nine~~Registrant ~~months~~has ~~ended~~duly ~~September~~caused ~~30,~~this ~~2012~~Report ~~and~~to ~~2011,~~be ~~respectively,~~signed aon ~~period-over-period~~its ~~increase~~behalf ofby ~~$8.2 million or 136.7%. Life insurance and accident and health premiums were $4.6 million in~~ the ~~third~~undersigned ~~quarters~~hereunto ofduly ~~2012 and 2011 and were $12~~authorized.9 ~~million and $13.5 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period decrease of $0.6 million or 4.4%.~~

Sales of deferred annuities and immediate annuities without life contingencies were $8.2 million and $11.3 million in the third quarters of 2012 and 2011, respectively, a period-over-period decrease of $3.1 million or 27.4%, and were $40.5 million and $40.8 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period decline of $0.3 million or 0.7%.

Net investment income was $45.8 million and $48.2 million in the third quarters of 2012 and 2011, respectively, a period-over-period decrease of $2.4 million or 5.0%, and was $139.0 million and $146.6 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period decrease of $7.6 million or 5.2%. Excluding the return on the Company’s limited partnership investments and other realized gains, the investment yields for the nine months ended September 30, 2012 and 2011 were 5.62% and 5.90%, respectively.

Net realized investment gains, including OTTI, were $4.0 million and net realized losses were $0.9 million in the third quarters of 2012 and 2011, respectively, a period-over-period increase of $4.9 million, and were $6.8 million and $20.9 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period decrease of $14.1 million. The year-to-date decrease in net realized gains was due to $13.3 million of decreases in net realized investment gains within our limited partnership portfolio, primarily due to a gain from one hedge fund redemption of $10.6 million in the second quarter of 2011, a decrease in net realized investment gains within our bond and stock portfolios of $5.7 million, offset by $1.3 million lower realized losses related to other-than-temporary impairments and a lesser decline in the fair value of payor swaptions of $3.6 million.

Interest credited and benefits paid and accrued to policyholders were $45.5 million and $43.8 million in the third quarters of 2012 and 2011, respectively, a period-over-period increase of $1.7 million or 3.9%, and were $135.0 million and $131.8 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period increase of $3.2 million or 2.4%. The increases are

principally due to the increase in liabilities for immediate annuities with life contingencies in 2012 compared to 2011 related to the increase in sales of this product in 2012.

Commissions to agents, net were $1.3 million and $0.7 million in the third quarters of 2012 and 2011, respectively, a period-over-period increase of $0.6 million or 85.7%, and were $3.7 million and $3.1 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period increase of $0.6 million or 19.4%. Commission expense increased slightly in the third quarter 2012 relative to 2011 due to higher annuity sales compared to the previous year. The net expense from changes in the deferred policy acquisition costs was $1.1 million and $1.3 million in the third quarters of 2012 and 2011, respectively, a period-over-period decrease of $0.2 million or 15.4%, and was $2.3 million and $4.5 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period decrease of $2.2 million or 48.9%, principally related to lower amortization of DAC on annuity sales due to lower realized gains. Deferred acquisition costs were reduced by $0.5 million for the first nine months of 2012 relative to 2011 primarily due to a reduction in deferred costs resulting from the prospective adoption of a new accounting principle in 2012 that reduced the scope of deferrable costs to those directly linked to successful sales efforts.

General expenses and taxes were $6.6 million and $4.5 million in the third quarters of 2012 and 2011, respectively, a period-over-period increase of $2.1 million or 46.7%, and were $20.1 million and $17.6 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period increase of $2.5 million or 14.2%. The third quarter increase was primarily due to higher transaction costs incurred in connection with the sale of the Company and increased consulting fees associated with systems implementation projects.

The Company recorded income tax expenses of $2.8 million and $1.5 million in the third quarters of 2012 and 2011, respectively, a period-over-period increase of $1.3 million or 86.7%. Income tax expense was $6.3 million and $12.7 million for the nine months ended September 30, 2012 and 2011, respectively, a period-over-period decrease of $6.4 million or 50.4%. The decrease in income tax expense for 2012 relative to 2011 results mainly from lower pre-tax income. The effective tax rate was 34.1% and 34.5% for the nine months ended September 30, 2012 and 2011, respectively, a decline of 0.4%.

Cautionary statement regarding forward-looking statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, quotations from management, statements about our future plans and business strategy, and expected or anticipated future events or performance.

These forward-looking statements involve risks and uncertainties that are discussed in our filings with the Securities and Exchange Commission, including economic, competitive, legal and other factors. Accordingly, there is no assurance that our plans, strategy and expectations will be realized. Actual future events and results may differ materially from those expressed or implied in forward-looking statements.

About Presidential Life

Presidential Life Corporation, through its wholly owned subsidiary Presidential Life Insurance Company, is a provider of fixed deferred and immediate annuities, life insurance and accident & health insurance products to financial service professionals and their clients. Headquartered in Nyack, New York, the Company was founded in 1969 and markets its products in 50 states and the District of Columbia. For more information, visit our website www.presidentiallife.com.

Contacts

Presidential Life Corporation Donald Barnes President and Chief Executive Officer (845) 358-2300 ext. 250 Presidential Life Corporation P.B. (Pete) Pheffer Senior Vice President and Chief Financial Officer (845) 358-2300 ext. 205

PRESIDENTIAL LIFE CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands)
			September 30,		December 31,
			2012		2011
ASSETS:			(Unaudited)
Investments:
	Fixed maturities:
		Available for sale at market (Amortized cost
		of $ 3,162,017 and $ 3,206,884 respectively)	$	3,584,243	$	3,520,755
	Common stocks (Cost of $ 748 and
		$ 748, respectively)		1,468		1,302
	Derivative instruments, at fair value			1,651		3,358
	Real estate			415		415
	Policy loans			19,565		18,442
	Short-term investments			126,723		61,233
	Limited Partnerships			171,729		166,923
		Total Investments	$	3,905,794	$	3,772,428
Cash and cash equivalents				15,802		47,110
Accrued investment income				45,489		47,289
Deferred policy acquisition costs				37,732		41,746
Furniture and equipment, net				2,385		1,065
Amounts due from reinsurers				29,962		19,116
Amounts due from investment transactions				228		23,880
Federal income taxes recoverable				15,477		-
Other assets				2,321		1,649
TOTAL ASSETS			$	4,055,190	$	3,954,283
LIABILITIES AND SHAREHOLDERS' EQUITY:
Liabilities:
Policy Liabilities:
	Policyholders' account balances		$	2,286,808	$	2,323,364
	Annuity			624,608		634,397
	Life and accident and health			92,357		83,855
	Other policy liabilities			17,528		20,633
		Total Policy Liabilities	$	3,021,301	$	3,062,249
Deposits on policies to be issued				659		490
General expenses and taxes accrued				4,002		2,521
Federal income taxes payable				-		1,411
Deferred federal income taxes, net				136,036		82,355
Amounts due for investment transactions				6,173		268
Other liabilities				18,550		17,045
		Total Liabilities	$	3,186,721	$	3,166,339
Commitments and Contingencies
Shareholders’ Equity:
	Capital stock ($.01 par value; authorized
	100,000,000 shares outstanding,
	29,591,739 and 29,574,697 shares, respectively)		$	296	$	296
	Additional paid in capital			7,532		7,408
	Accumulated other comprehensive income			266,642		192,815
	Retained earnings			593,999		587,425
		Total Shareholders’ Equity		868,469		787,944
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			$	4,055,190	$	3,954,283

PRESIDENTIAL LIFE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands, except share data)
				THREE MONTHS ENDED				NINE MONTHS ENDED
				September 30,				September 30,
				(Unaudited)				(Unaudited)
REVENUES:				2012		2011		2012		2011
	Insurance Revenues:
		Premiums		$	4,615	$	4,572	$	12,896	$	13,533
		Annuity considerations			5,661		1,586		14,203		5,983
		Universal life and investment type policy fee income			828		849		2,477		2,647
	Equity in earnings (losses) on limited partnerships				182		103		1,312		2,067
	Net investment income				45,754		48,212		138,981		146,555
	Net realized investment gains (losses):
		Total Other-than-temporary impairment ("OTTI") losses		$	(586)	$	(3,971)	$	(5,660)	$	(10,687)
		OTTI losses recognized in other comprehensive income			235		836		235		3,924
		Net OTTI losses recognized in earnings		$	(351)	$	(3,135)	$	(5,425)	$	(6,763)
		Net realized capital gains, excluding OTTI losses			4,313		2,215		12,229		27,626
	Other income				1,404		257		2,837		2,201
			TOTAL REVENUES	$	62,406	$	54,659	$	179,510	$	193,849
BENEFITS AND EXPENSES:
	Death and other life insurance benefits			$	4,416	$	4,519	$	13,113	$	13,435
	Annuity benefits				19,810		20,426		59,651		62,284
	Interest credited to policyholders' account balances				24,348		25,428		73,514		76,454
	Other interest and other charges				434		243		1,112		950
	Decrease in liability for future policy benefits				(3,522)		(6,836)		(12,380)		(21,293)
	Commissions to agents, net				1,289		700		3,673		3,064
	General expenses and taxes				6,588		4,460		20,109		17,583
	Change in deferred policy acquisition costs				1,105		1,295		2,336		4,457
			TOTAL BENEFITS AND EXPENSES	$	54,468	$	50,235	$	161,128	$	156,934
	Income before income taxes			$	7,938	$	4,424	$	18,382	$	36,915
	Provision (benefit) for income taxes:
		Current		$	(13,273)	$	16,051	$	(7,667)	$	18,341
		Deferred			16,023		(14,525)		13,927		(5,605)
				$	2,750	$	1,526	$	6,260	$	12,736
NET INCOME				$	5,188	$	2,898	$	12,122	$	24,179
OTHER COMPREHENSIVE INCOME (after tax)
	Net unrealized investment gains from available for sale securities, net of income tax expense of $39,753 and $52,613, respectively.				29,000		63,203		73,827		97,711
TOTAL OTHER COMPREHENSIVE INCOME				$	29,000	$	63,203	$	73,827	$	97,711
TOTAL COMPREHENSIVE INCOME				$	34,188	$	66,101	$	85,949	$	121,890
	Earnings per common share, basic			$	0.18	$	0.10	$	0.41	$	0.82
	Earnings per common share, diluted			$	0.18	$	0.10	$	0.41	$	0.82
	Weighted average number of shares outstanding during the period, basic				29,591,739		29,574,697		29,588,007		29,574,697
	Weighted average number of shares outstanding during the period, diluted				29,609,653		29,574,697		29,597,614		29,574,697

PRESIDENTIAL LIFE CORPORATION

Date: November 9, 2012

/s/ Donald L. Barnes

Donald L. Barnes

Chief Executive Officer

1 Defined as the yield on invested assets over the cost of money on annuity liabilities. Yield is inclusive of realized capital gains/ (losses), other-than-temporary-impairments and equity in earnings/(losses) on limited partnerships.

2 In accordance with Generally Accepted Accounting Principles (“GAAP”), current quarter sales of deferred annuities and immediate annuities without life contingencies ($8.2 million) are not reported as insurance revenues, but rather as additions to policyholder account balances. In addition, sales of immediate annuities with life contingencies, which are reported as insurance revenues under GAAP, totaled $5.6 million.

3 Risk-Based Capital (“RBC”) refers to the ratio of adjusted statutory surplus divided by Company Action Level capital that triggers regulatory involvement, as those terms are defined by the National Association of Insurance Commissioners (“NAIC”).

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