WACO, Texas, May 25, 2010 (GLOBE NEWSWIRE) -- FirstCity Financial Corporation (Nasdaq:FCFC) today announced that on May 25, 2010, VFC Partners 4 LLC, an affiliate of FirstCity Financial Corporation ("FirstCity"), acquired a portfolio of non-performing and underperforming assets from Intervest National Bank and Intervest Mortgage Corporation (collectively the "Sellers"). VFC Partners 4 LLC is an entity formed by FirstCity and Värde Partners, Inc. ("Värde") for the acquisition. An affiliate of FirstCity, FirstCity Servicing Corporation will serve as exclusive servicer and asset manager of the purchased portfolio.
FirstCity Financial Corporation And Varde Partners, Inc. Announce Acquisition Of A Portfolio Of Non-Performing And Underperforming Assets And The Acquisition Of Class A Common Stock Of Intervest Bancshares Corporation
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