BANKING

Texas Commerce Wins Bulk of First City Banks: Texas Commerce Bancshares will buy five of First City Bancorporation’s 20 banks, while the remaining portions of the failed bank will be sold in pieces to other buyers, federal officials announced. First City was the largest bank failure in the nation in 1992. The deal had an unexpected bonus for taxpayers: Federal Deposit Insurance Corp. officials said it would likely cost the government nothing, a stunning development after they had projected it would take $500 million to liquidate First City. The winning bidders will pay $434 million for First City’s parts.