FirstCity Financial Corporation · Waco, TX United States ·(NASDAQ (GS): FCFC)
Company Description
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This link will open in a new window 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 loans from banks, credit unions, and other financial institutions at a discount to their face value; its portfolio is worth some $10 billion. The company services all the loans it acquires. FirstCity Financial has an acquisition partnership with Cargill Financial, a unit of agricultural giant Cargill , to purchase distressed assets. In 2007 FirstCity joined with Crestone Capital to establish FirstCity Crestone, a platform that invests in special situations, such as restructurings, turnarounds, and executive buyouts. To read the full description, subscribe now.
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Key FirstCity Financial Corporation Financials
| Company Type | Public - NASDAQ (GS): FCFC Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $29.2 |
| 2008 Employees | 265 |
FirstCity Financial Corporation Executives
12 executives listed for FirstCity Financial Corporation's Waco, TX location.
| Title | Name & Bio | Contact |
| Chairman | Richard Bean | Network |
| Vice Chairman | C. Ivan Wilson | Network |
| President, CEO, and Director | James Sartain | Network |
Competition
Competitive Landscape for FirstCity Financial Corporation
Demand for credit reporting and for collections services are driven by the volume of financial transactions, and by the health of the economy. The profitability of individual companies depends largely on efficiency of operations. The profitability of collections companies that buy receivables portfolios depends on their ability to assess recovery potential. Large credit reporting companies have significant economies of scale in operations. Small companies can compete successfully in the collections segment, where customer service and personal contact are important. To read the full description, subscribe now.Top FirstCity Financial Corporation Competitors
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