FirstCity Financial Corporation Reports Second Quarter 2012 Results
WACO, Texas, Aug. 9, 2012 (GLOBE NEWSWIRE) --
Highlights and Key Points:
- FirstCity reported second quarter 2012 earnings of $1.5 million or $0.14 per diluted share.
- FirstCity and its partners acquired $48.3 million of portfolio assets with a face value of $88.7 million during the second quarter of 2012.
- FirstCity and its partners, year to date, have acquired $139.6 million of portfolio assets with a face value of $298.8 million.
- FirstCity invested $6.8 million in non-portfolio debt and equity investments during the second quarter of 2012, bringing year-to-date totals to $11.7 million.
Components of FirstCity's quarterly and year-to-date results are summarized below:
|Three Months Ended||Six Months Ended|
|June 30,||June 30,|
|(Dollars in thousands, except per share data)||(Unaudited)|
|Portfolio Asset Acquisition and Resolution||$ 3,092||$ 2,604||$ 13,921||$ 7,589|
|Special Situations Platform||612||1,620||1,027||2,093|
|Corporate and other||(2,217)||(1,796)||(5,096)||(3,529)|
|Net earnings attributable to FirstCity||$ 1,487||$ 2,428||$ 9,852||$ 6,153|
|Diluted earnings per common share||$ 0.14||$ 0.24||$ 0.93||$ 0.60|
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