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Home > Company Index > Financial Services > Mortgage Banking & Related Services > FirstCity Financial Corporation

FirstCity Financial Corporation
Nasdaq: FCFC
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 PROFILE
FirstCity Financial is all about loans. Operating through subsidiaries, the company buys, manages, and sells portfolios of loans and other assets. FirstCity Financial mostly purchases nonperforming consumer and commercial loans at a discount to their face value and services all the loans it acquires. The company has an acquisition partnership with Cargill Financial (a unit of agricultural giant Cargill) to purchase distressed assets. It also originates subprime automobile loans, but sold 49% of its auto finance unit to Bank of Scotland subsidiary IFA Incorporated to pay down debt. FirstCity Financial also dissolved its mortgage banking unit, which declared bankruptcy in 1999.

 COMPETITION
Delta Financial Corporation (DLTO)
General Motors Acceptance Corporation (dossier)
WFS Financial Inc. (WFSI)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 52.20
1-Yr. Sales Growth: (11.4)%
Employees: 140
Revenue per employee: $372,857.14

 KEY PEOPLE
• James T. Sartain
    CEO
• J. Bryan Baker
    CFO

 CONTACT INFO
6400 Imperial Dr.
Waco, TX 76712
US
Phone: 254-751-1750
Fax: 254-751-7648
Online: Web Site

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