Dallas - Credit card giant Advanta Corp. is bidding for the failed First City Bancorp., lured by the prospect of a physical presence in Texas and hundreds of millions in tax breaks.

The Horsham, Pa.-based consumer finance company told a bankcruptcy court here it would invest as much as $20 million to acquire the remaining assets of the troubled bank holding company.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.