XML 45 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 33,039 $ 34,802
Restricted cash 1,250 1,229
Portfolio Assets:    
Loan portfolios, net of allowance for loan losses of $617 and $781 68,353 97,090
Real estate held for sale, net 14,320 26,856
Total Portfolio Assets 82,673 123,946
Loans receivable:    
Loans receivable - affiliates 6,757 6,719
Loans receivable - SBA held for sale 4,808 7,614
Loans receivable - SBA held for investment, net of allowance for loan losses of $425 and $333 20,226 19,151
Loans receivable - other, net of allowance for loan losses of $1,083 7,545 12,212
Total loans receivable, net 39,336 45,696
Investment securities available for sale 3,529 3,798
Investments in unconsolidated subsidiaries 103,864 109,393
Service fees receivable ($1,023 and $834 from affiliates) 1,106 913
Servicing assets - SBA loans 1,145 1,090
Assets held for sale 9,948 9,886
Other assets 27,502 25,593
Total Assets 303,392 [1] 356,346 [1]
Liabilities:    
Notes payable to banks and other 139,873 189,936
Liabilities associated with assets held for sale 5,189 5,317
Other liabilities 22,306 23,690
Total Liabilities 167,368 [2] 218,943 [2]
Commitments and contingencies (Note 18)      
Stockholders' equity:    
Optional preferred stock (par value $.01 per share; 98,000,000 shares authorized; no shares issued or outstanding)      
Common stock (par value $.01 per share; 100,000,000 shares authorized; shares issued: 12,056,197 and 11,890,590, respectively; shares outstanding: 10,556,197 and 10,390,590, respectively) 121 119
Treasury stock, at cost: 1,500,000 shares (10,923) (10,923)
Paid in capital 106,822 106,330
Retained earnings 28,243 18,391
Accumulated other comprehensive loss (1,969) (1,941)
FirstCity Stockholders' Equity 122,294 111,976
Noncontrolling interests 13,730 25,427
Total Equity 136,024 137,403
Total Liabilities and Equity $ 303,392 $ 356,346
[1] Our consolidated assets at June 30, 2012 and December 31, 2011 include the following assets of certain variable interest entities ("VIEs") that can only be used to settle the liabilities of those VIEs: Cash and cash equivalents, $18.5 million and $20.4 million; Portfolio Assets, $68.9 million and $98.4 million; Loans receivable, $39.3 million and $45.7 million; Equity investments, $41.5 million and $51.7 million; various other assets, $37.8 million and $35.9 million; and Total assets, $206.0 million and $252.2 million, respectively.
[2] Our consolidated liabilities at June 30, 2012 and December 31, 2011 include the following VIE liabilities for which the VIE creditors do not have recourse to FirstCity: Notes payable, $43.9 million and $70.2 million; Other liabilities, $17.3 million and $19.0 million; and Total liabilities, $61.2 million and $89.2 million, respectively.