PR - FirstCity Financial Increases Lending Facilities by $100 million

FirstCity Financial Corporation (Nasdaq:FCFC) announced today that the Company and Bank of Scotland have amended FirstCity’s existing corporate credit facility to increase the maximum available commitment under the revolver from $175 million to $225 million. This increase, along with a $50 million increase in the borrowing facility to FH Partners to finance portfolio and asset purchases represents total increased borrowing capacity for FirstCity of $100 million.

James T. Sartain, President and CEO of FirstCity, stated, "The increased funding available under our bank lending facilities will allow FirstCity to continue the strong growth in its earning asset base by capitalizing on opportunities in the markets."

FirstCity Financial is a diversified financial services company with operations dedicated to portfolio asset acquisition and resolution with offices in the U.S. and with affiliate organizations in Europe and Latin America.