FirstCity Financial Corporation (FirstCity) is a specialty financial services company. The Company engages in two business segments: Portfolio Asset Acquisition and Resolution, and Special Situations Platform. In the Portfolio Asset Acquisition and Resolution business, the Company acquires portfolios of performing and non-performing loans and other assets, at a discount to their legal principal balances or appraised values, and services and resolves these assets. Through its Special Situations Platform business, the Company provides investment capital to privately-held, middle-market companies through flexible capital structuring arrangements to generate a risk-adjusted return. These capital investments primarily take the form of senior and junior financing arrangements, but also include direct equity investments and common equity warrants.