Whitney Bank, Gulfport, Mississippi, Assumes All Transactional Deposit Accounts of First NBC Bank, New Orleans, Louisiana — 2017-04-28

FDIC to Mail Checks to Holders of Time Deposit Accounts, Including IRAs and CDs First NBC Bank, New Orleans, was closed today by the Louisiana Office of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Whitney Bank, Gulfport, Mississippi. No depositor is losing money as a result of this transaction. At the time of closing, the receiver immediately transferred all transactional deposit accounts—checking, savings, NOW, and money market—of First NBC Bank to Whitney Bank. Whitney Bank also assumed certificates of deposit (CDs) securing loans. The FDIC will mail checks for time deposit accounts, including all other CDs, individual retirement accounts (IRAs), and brokered deposits, directly to account holders on Monday, May 1. Checks will reflect accrued interest.