First NBC Bank was a state-chartered commercial bank founded in 2006 to serve the New Orleans metropolitan area and the Florida Panhandle. The bank grew rapidly in the aftermath of Hurricane Katrina, becoming a key local lender. However, it later faced significant financial distress due to a high concentration of troubled loans, particularly those related to federal and state historic rehabilitation tax credits. After failing to raise sufficient capital to cover its losses, First NBC Bank was closed on April 28, 2017, by the Louisiana Office of Financial Institutions. The Federal Deposit Insurance Corporation (FDIC) was named as receiver, and its deposits and a majority of its assets were subsequently acquired by Whitney Bank (now Hancock Whitney).

Founded in

United States