BANKING & FINANCE - March 4, 1992
From Times Staff and Wire Reports
Texas Bank Plan May Be Brewing: Federal regulators are working on a plan to provide more than $350 million in assistance to spark the sale of troubled First City Bancorp. in Texas, the trade newspaper American Banker reported. San Francisco-based BankAmerica is considered by industry sources to be the leading contender to acquire First City if a deal can be worked out. Although BankAmerica is expected to cool its aggressive acquisition activity after its expected combination with Security Pacific Corp., BofA executives have made it clear that they would make an exception for acquisitions in Texas.
