BATON ROUGE, LA (WAFB) - Hancock Holding Company announced Friday that its banking subsidiary, Whitney Bank, has acquired some assets and liabilities of First NBC from the Federal Deposit Insurance Corporation (FDIC).
Effective Friday, April 28, Whitney Bank has acquired the following assets and liabilities from First NBC:
- Approximately $1.6 billion in deposits
- Approximately $1 billion in assets including cash, securities, consumer and residential mortgage loans
- Net cash to Hancock of approximately $0.6 billion
Whitney now has the option to purchase 29 branch locations, 24 of which are in Louisiana.
Acquired branch locations will resume normal business hours on Saturday, April 29 or on Monday, May 1. Certificates of deposit not being assumed by Whitney will be paid out in full by the FDIC, while all open CDs will be mailed by the FDIC to customers beginning Monday.
"Our first and most important priority is to assure former FNBC customers that their deposits are safe, secure, and accessible. The FDIC has agreed to remit the balances of CDs directly to former FNBC clients. In the near term, beginning Saturday, April 29, 2017, it will be business as usual at the former FNBC locations. Over the next few weeks, we will evaluate overlapping offices and work with former FNBC employees to fill open positions throughout our company. We are honored to welcome former FNBC clients to the Hancock Whitney franchise," said John M. Hairston, president and CEO of Hancock Holding Company.
There is a First NBC Bank location in Denham Springs, located at 1010 S Range Ave. There is another branch in Hammond on SW Railroad Ave.
Additional information about the acquired branches and a FAQs page can be found here.