SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) August 21, 1998
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FIRSTCITY FINANCIAL CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-7614 76-0243729
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
6400 Imperial Drive, Waco, TX 76712
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (254) 751-1750
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HOFS02...:\92\54892\0004\1848\FRM8248R.50A
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
Press Release of August 21, 1998.
Item 7. Exhibits
Exhibit number Description
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99.1 Press Release of August 21, 1998
2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRSTCITY FINANCIAL CORPORATION
By: /s/ Matt A. Landry, Jr.
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Name: Matt A. Landry, Jr.
Title: Executive Vice President and Chief
Administrative Officer
Date: August 24, 1998
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EXHIBIT INDEX
Exhibit number Description
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99.1 Press Release of August 21, 1998
4
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N E W S R E L E A S E
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FIRSTCITY
FINANCIAL CORPORATION
Suzy W. Taylor
P.O. Box 105
Houston, Texas 77001
(713) 652-1810
FirstCity Announces Management Changes at Mortgage Corp.
Houston, Texas, August 21, 1998... FirstCity Financial Corporation
today announced that Rick R. Hagelstein, Executive Vice President and Director
of Subsidiary Operations, has been named Chairman and CEO of FirstCity Financial
Mortgage Corporation, the company's conventional residential origination and
servicing subsidiary. Mr. Hagelstein replaces Richard J. Gillen who has elected
to retire. Mr. Gillen will continue to serve on the company's board of
directors.
FirstCity's Chairman and CEO James Hawkins said, "Harbor Mortgage has
experienced unprecedented growth since its merger with FirstCity in July, 1997.
Under Dick's management, quarterly production levels are now three times the
1997 levels and the servicing platform has grown to nearly $10 billion. The
challenge facing us now is to manage this growth at Harbor to ensure that
FirstCity's capital is deployed to its most profitable uses."
Mr. Hagelstein added, "We have a dedicated team of mortgage
professionals who recognize the opportunities we have at this time to center our
attention on the things we do extremely well. Dick Gillen, as he grew Harbor
over the years, provided us with a solid foundation upon which to build a tight,
focused business."
FirstCity is a diversified financial services company with operations
dedicated to mortgage lending, portfolio asset acquisition and resolution and
consumer lending through over 90 offices in the US and with affiliate
organizations in Europe and Mexico. Its common (FCFC) and preferred (FCFCP and
FCFCO) stocks are listed on the NASDAQ National Market System.
