Bank Restructuring Plan Threatened

Key stockholders are threatening to torpedo a $1.5-billion restructuring plan designed to rescue Houston’s ailing First City Bancorp, according to a report in the Dallas Morning News. They are reportedly unhappy with the plan worked out by the Federal Deposit Insurance Corp. and Chicago banker A. Robert Abboud, who would take over the bank. It calls for the FDIC to pump $1 billion into the failing company, while Abboud would raise $525 million through the sale of securities.