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Bank Failures

Bid Summary

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

Bidder Type of Transaction Deposit 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 $35,000 N/A 100% No Bid No Bid No Bid No Bid No Bid No Bid No Bid No Bid No Bid No - 1,2
Cover Bid:
None		 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Other Bids:                            
First-Citizens Bank & Trust Company, Raleigh, NC All deposit Whole Bank 0.00% ($1,389,000) N/A N/A N/A N/A N/A N/A N/A N/A N/A No Bid Yes

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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html

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Last Updated: December 20, 2021