First Investors Financial Services will serve as a NationsBank automobile financing source in Oklahoma under an agreement signed Tuesday.

Houston-based First Investors' alliance with the NationsBank Dealer Financial Services Group's automobile dealer network will initially target large-volume Oklahoma and Missouri automobile dealers who offer sub-prime loan products.

The NationsBank group serves more than 4,500 auto and other dealers in 36 states and the District of Columbia, which services about 80 automobile dealers in Oklahoma and Missouri, according to NationsBank spokesperson Gordon Turner.

First Investors is a consumer finance company engaged in the purchase and retention of automobile finance receivables originated primarily from franchised automobile dealers from the sale of new and late-model used vehicles. The company maintains relationships with more than 1,300 franchised dealerships in 19 states.

In addition to the NationsBank deal, First Investors has a similar agreement with National City Bank and is in discussions with other financial institutions.

"First Investors continues to pursue a strategy of portfolio growth with an emphasis on maintaining acceptable credit quality and risk-adjusted yields," said Tommy A. Moore Jr., president and chief executive of First Investors. "We believe this is the only formula for long-term success in non-prime lending."

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