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FDIC AND FIRST CITY AGREE TO STANDSTILL MOTION UNTIL DEC. 6, 1993

 HOUSTON, Oct. 8 /PRNewswire/ -- First City Bancorporation of Texas, Inc., the FDIC and the Texas Banking Commissioner today filed a joint motion in the Dallas bankruptcy court to stay the litigation recently commenced by First City against banking regulators until Dec. 6, 1993. The parties are seeking the litigation moratorium to facilitate their ongoing settlement discussions. However, discussions are at an early stage, making it speculative to predict whether or not a settlement might result or what its timing or scope might be.
 The company will have no further comment on the status of settlement discussions until such time as a settlement agreement is executed or discussions are terminated.
 The joint motion also calls for consolidation of First City's lawsuit in a federal court in Dallas. The litigation was filed on Sept. 24, 1993 in all four federal judicial districts in Texas, as well as in the Dallas bankruptcy court.
 -0- 10/8/93
 /CONTACT: Suzy W. Taylor of First City Bancorporation of Texas, 713-652-1810/
 (FCT)


CO: First City Bancorporation of Texas, Inc.; FDIC ST: Texas IN: FIN SU:

MP -- NY046 -- 0198 10/08/93 13:34 EDT
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Publication:PR Newswire
Date:Oct 8, 1993
Words:188
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