DALLAS -- Hoping the end of its nearly two-year battle with banking regulators is near, First City Bancorp. said it had filed a joint reorganization plan with a Waco, Tex.-based distressed-asset acquirer.

J-Hawk Corp. will merge into First City in exchange for about 50% of the new entity's common stock. The proposed plan must still receive approval from First City shareholders and the bankruptcy court.

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.