A very large bank failure occurred today when state regulators closed First NBC Bank, New Orleans, and appointed the FDIC as receiver. To prevent losses to depositors, the FDIC took a significant hit to its Deposit Insurance Fund and sold First NBC Bank to Whitney Bank, Gulfport, Mississippi. In terms of asset size the collapse of […]
Five Billion Dollar Bank Failure – First NBC Bank, New Orleans, Closed by Regulators
April 29, 2017 By Leave a Comment
Central Progressive Bank, Louisiana, Closed By Regulators
November 18, 2011 By Leave a Comment
Central Progressive Bank, Lacombe, Louisiana, was closed today by state regulators who appointed the FDIC as receiver. The FDIC sold the failed bank to First NBC Bank, New Orleans, LA, which will assume all deposits of Central Progressive. Central Progressive Bank was founded in 1967 to serve the banking needs of the Northshore communities of […]