February 25, 2017 5:19 AM ET

Banks

Company Overview of First NBC Bank

Company Overview

First NBC Bank provides personal and business banking products and services. Its personal banking services include checking accounts, savings accounts, money market accounts, certificates of deposit and IRAs, consumer loans and lines of credit, and convenience services. The company’s business banking services include checking accounts, savings accounts, money market accounts, certificates of deposit, business loans and lines of credit, cash management, and convenience services. It also provides a suite of trust and institutional services, such as agency, custodial, investment, escrow, retirement, and traditional banking services to personal clients, corporations, unions, non-profit organizat...

210 Baronne Street

New Orleans, LA 70112

United States

Founded in 2006

Phone:

504-566-8000

Fax:

504-671-3485

Key Executives for First NBC Bank

Interim Chief Executive Officer and Director
President and Director
Age: 66
Chief Financial Officer and Senior Executive Vice President
Age: 69
Interim Chief Operating Officer and Chief Compliance Officer
Age: 54
Vice Chairman and Chief Trust Officer
Compensation as of Fiscal Year 2016.

First NBC Bank Key Developments

First NBC Bank Announces Auditor Changes

First NBC Bank announced that it has appointed Crowe Horwath as its independent auditor for the year that ended December 31, 2016. The bank “intends to work expeditiously” with the firm to finalize financial results for the third and fourth quarters of 2016 and complete the 2016 audit. First NBC’s previous auditor, Ernst & Young, notified the company last year that it did not want to be re-appointed to the position.

First NBC Bank Holding Company Announces Leadership Transition Plan to Strengthen Operations

First NBC Bank Holding Company announced a leadership transition plan designed to strengthen the company’s operations and to best position First NBC for the future. As part of its ongoing review of management and internal controls, the First NBC Board of Directors has announced its intent, subject to regulatory approvals, to: Separate the roles of Chief Executive Officer and President, with Ashton J. Ryan Jr. continuing as President and a member of the Boards of Directors of First NBC Bank and First NBC Bank Holding Company; Appoint Hermann 'Buck' Moyse, III, as Interim Chief Executive Officer of First NBC Bank and First NBC Bank Holding Company; and Appoint Marsha S. Crowle as Interim Chief Operating Officer of First NBC Bank and First NBC Bank Holding Company. Ms. Crowle will continue to serve as Chief Compliance Officer.

First NBC Bank Reports Unaudited Earnings Results for the Third Quarter Ended September 30, 2016

First NBC Bank reported unaudited earnings results for the third quarter ended September 30, 2016. For the quarter, the bank reported preliminary net income of $9.7 million as compared to $12.3 million for the third quarter of 2015 and $4.9 million for the second quarter of 2016. The bank’s preliminary net interest income totaled $39.6 million, an increase of $5.1 million or 14.9% from the third quarter of 2015.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 30, 2016
First NBC Bank, Nine Branches and Certain Assets and Liabilities
 

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