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First City Bows Out: First City Bancorp....

First City Bows Out: First City Bancorp. of Texas says it has withdrawn its bid to purchase the state’s two largest remaining ailing banks. Instead, the Houston-based bank holding company said it would concentrate on efforts to buy out the 18% interest the federal government still holds in First City. First City, itself the recipient last year of $1 billion in federal aid, was one of a group of bidders for Ft. Worth-based Texas American Bancshares Inc. and San Antonio’s National Bancshares Corp. of Texas, which together have about $7 billion in assets. Los Angeles-based Security Pacific Corp. remains in the bidding for the two banks.


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