On Friday, April 28, 2017, First NBC Bank, New Orleans, LA was closed by the Louisiana Office of Financial Institutions. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
All transactional deposit accounts (checking, savings, NOW, and money market) have been transferred to Whitney Bank, Gulfport, MS and will be available immediately. For more information on Whitney Bank, visit us at https://www.hancockwhitney.com.
The FDIC will mail checks for the total balance of time deposit accounts, including certificates of deposit (CDs), individual retirement accounts (IRAs),and brokered deposits, no later than Monday, May 1, 2017, unless your CD secured a loan. Checks will be mailed to your address of record with the bank. There will be no early withdrawal penalty. You have 60 days to reinvest this IRA into another retirement vehicle to qualify as a rollover for income tax purposes. You should consult IRS Publication 590-B (www.irs.gov) and/or your tax advisor concerning the possible tax consequences of this distribution.
The FDIC has assembled useful information regarding your relationship with First NBC Bank. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.
Please select the link below to read more about this event:
FDIC Bank Closing Information for First NBC Bank