Beach Community Bank terminates acquisition of First City Bank.

Beach Community Bank, a provided of banking services, terminated the acquisition of First City Bank, a chartered bank. Financial terms were not disclosed. Beach Community Bank on March 24 provided Florida First with verbal notice that it would not be able to satisfy the deal's conditions. Florida First in January filed a Chapter 11 petition, which it said would facilitate the transaction. In the filing, Florida First said a March 26 sale hearing in bankruptcy court could be canceled because there are no other potential bidders qualified or having submitted any bids. The bankruptcy filing affected only the holding company and not the day-to-day operations of unit First City Bank of Florida.