NEW ORLEANS -- First NBC Bank has closed.
Starting Saturday, April 29, all branches of First NBC Banks will reopen as Whitney Banks. According to Louisiana's Office of Financial Institutions, First NBC customers will be able to access their accounts through Whitney Bank.
“No depositor of First NBC is expected to incur a loss as the result of the transaction,” according to the OFI.
“Whitney has acquired all transactional deposit accounts, consisting of checking, savings, NOW, and money market accounts of the former First NBC Bank, which was closed today,” the statement from the OFI read. “Whitney Bank also assumed certificates of deposit (CDs) securing loans. These First NBC Bank depositors will automatically become customers of Whitney Bank.”
On April 28, First NBC Bank was placed under the conservatorship of the Commissioner of Financial Institutions by the Orleans Parish Civil District Court. The commissioner then ordered the bank closed and then through an agreement with the Federal Deposit Insurance Corporation, First NBC Bank will be acquired by Whitney Bank, based in Gulfport, Ms.
First NBC bank customers with questions can reach out to the FDIC at their website or by calling 1-800-913-3062.