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Bank Failures

Bid Summary for First NBC Bank, New Orleans, LA

First NBC Bank, New Orleans, LA
Closing Date: April 28, 2017

Failed Bank Information for First NBC Bank, New Orleans, LA

BidderType of TransactionDeposit Premium %Asset Premium/ (Discount) $(000)Optional Loan Pool 30-Performing Single Family (% of BV)Optional Loan Pool 30-Non-Performing Single Family (% of BV)Optional Loan Pool 40 ADC (% of BV)Optional Loan Pool 50 Commercial Real Estate-Performing (% of BV)Optional Loan Pool 55 Commercial Real Estate-Non-Performing (% of BV)Optional Loan Pool 60 Land and Agr (% of BV)Optional Loan Pool 70 C&I Performing (% of BV)Optional Loan Pool 75 C&I Non-Performing (% of BV)Optional Loan Pool 80 Gov't Guaranteed (% of BV)Optional OREO Pool (% of BV)Conforming Bid
Winning Bid and Bidder:
Whitney Bank, Gulfport, MS
All deposit Basic P&A with Optional Loans Pools$35,000N/A100%No BidNo BidNo BidNo BidNo BidNo BidNo BidNo BidNo BidNo - 1,2
Cover Bid:
None
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Other Bids:              
First-Citizens Bank & Trust Company, Raleigh, NCAll deposit Whole Bank0.00%($1,389,000)N/AN/AN/AN/AN/AN/AN/AN/AN/ANo BidYes

Conforming Bid Notes:

1- Excludes non-performing loans in the optional SFR pool. 
2- Requires FDIC to payout all non-transaction deposit accounts.

Other Bidder Names & Locations:

None

Notes:

  • The winning bidder’s acquisition of all the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets.
  • The cover (second best) bid is the bid that: a. Is less costly then liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
  • There is no linkage between bidder names and bids, except in the case of the winning and cover bids.
  • There may be more bids than bidders because one or more bidders submitted more than one bid.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: December 20, 2021