|
CONSOLIDATED STATEMENTS OF EARNINGS (USD $)
In Thousands, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Revenues: |
|
|
| Servicing fees ($15,893 and $10,151 from affiliates, respectively) |
$ 16,918 |
$ 11,065 |
| Income from Portfolio Assets |
26,707 |
40,622 |
| Gain on sale of SBA loans held for sale, net |
1,481 |
2,261 |
| Gain on sale of investment securities |
343 |
90 |
| Interest income from SBA loans |
1,507 |
1,433 |
| Interest income from loans receivable - affiliates |
840 |
2,942 |
| Interest income from loans receivable - other |
369 |
606 |
| Revenue from railroad operations |
12,481 |
6,989 |
| Other income |
9,935 |
8,309 |
| Total revenues |
70,581 |
74,317 |
| Costs and expenses: |
|
|
| Interest and fees on notes payable to banks and other |
5,429 |
13,032 |
| Interest and fees on notes payable to affiliates |
|
1,502 |
| Salaries and benefits |
24,756 |
22,794 |
| Provision for loan and impairment losses |
3,930 |
4,165 |
| Asset-level expenses |
3,370 |
6,094 |
| Costs and expenses from railroad operations |
9,538 |
4,583 |
| Other costs and expenses |
21,166 |
16,429 |
| Total costs and expenses |
68,189 |
68,599 |
| Earnings before other revenue and income taxes |
2,392 |
5,718 |
| Equity income from unconsolidated subsidiaries |
15,244 |
2,231 |
| Gain on business combinations |
935 |
433 |
| Gain on debt extinguishment |
|
26,543 |
| Gain on sale of subsidiaries |
1,451 |
1,818 |
| Earnings before income taxes |
20,022 |
36,743 |
| Income tax expense (benefit) |
974 |
3,702 |
| Net earnings |
19,048 |
33,041 |
| Less: Net income attributable to noncontrolling interests |
4,710 |
8,824 |
| Net earnings attributable to FirstCity |
$ 14,338 |
$ 24,217 |
| Basic earnings per share of common stock (in dollars per share) |
$ 1.36 |
$ 2.34 |
| Diluted earnings per share of common stock (in dollars per share) |
$ 1.35 |
$ 2.33 |