FirstCity Financial Reports Second Quarter 2006 Earnings and Restructure of Mexican Investments

First City Financial reported earnings today, and included a statement about restructuring Mexican investments:

• FirstCity reports 2nd quarter 2006 earnings of $1,263,000 or $.11 per diluted share

• FirstCity invested $19 million in portfolio assets for the quarter.

• FirstCity closes restructuring transaction of Mexican investment platform, will receive approximately $2 million in consulting fees during third quarter.

James T. Sartain, President and CEO, said, “We were pleased with the strong acquisitions and equity investments in the second quarter. Our pipeline is strong and we are currently evaluating 35 different transactions representing over $4 billion in face value of assets. In addition we are very excited about the restructure of our Mexican investment platform and believe that this new structure with AIG, a highly respected worldwide investor, may further enhance FirstCity’s investment opportunities in Mexico as well as other parts of Latin America.”

For a complete financial breakdown, click here.