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Question and Answer Guide

First NBC Bank, New Orleans, LA

The following list of responses to frequently asked questions may assist you in understanding what is happening at First NBC Bank.

On Friday, April 28, 2017, First NBC Bank, New Orleans, LA was closed by the Louisiana Office of Financial Institutions. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Whitney Bank, Gulfport, MS acquired all the transactional deposits and some of the assets of First NBC Bank from the FDIC as Receiver. Share price does not trigger a bank closing and was not the reason for First NBC Bank's failure. All shares of stock were owned by the holding company, which was not involved in this transaction.

YOUR MONEY IS SAFE! No one lost any money on deposit as a result of the closure of this bank. All transactional deposits, regardless of dollar amount, were transferred to Whitney Bank. The acquired branch locations will re-open during normal business hours as Whitney Bank in Louisiana and Hancock Bank in Florida.

CD AND IRA ACCOUNTS: Please note the FDIC will mail checks for the total balance of your CDs and IRAs no later than Monday, May 1, 2017, to your address of record with the bank, unless your CD secures a loan. 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 ( and/or your tax advisor concerning the possible tax consequences of this distribution.

ACCESS TO YOUR MONEY: You may continue to use your same checks and they will clear up to the balance in your account. Your ATM/Debit card will continue to work as usual. The total balance in your account(s), including checking, savings, and money markets, has been transferred to Whitney Bank and will be available for transactions during regular business hours at the former bank branches.

DIRECT DEPOSITS: All direct deposits, for example, social security, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.

AUTOPAYMENTS/BILLPAY/ONLINE BANKING: These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by Whitney Bank.

INTEREST RATES: Interest on deposits accrued through close of business on Friday, April 28, 2017 will be paid at your same rate. First NBC Bank's rates will be reviewed by Whitney Bank and may be adjusted; however, you will be notified in writing of any changes. You may withdraw funds from any transferred account, regardless of whether your interest rate changes, without early withdrawal penalty until you enter into a new deposit agreement with Whitney Bank.

BROKERED DEPOSITS: Brokered deposits will be paid by the FDIC. If you are a customer who has a First NBC deposit through a broker, you must contact your broker with any questions.

TAX REPORTING – 1098 AND/OR 1099: Whitney Bank will be responsible for mailing your 1099 tax information. Your 1098 reporting will be done by the FDIC or the servicer of your loan. You will be notified of any changes in ownership or servicing of your loan.

SAFE DEPOSIT BOXES: You may continue to access your safe deposit box during normal business hours. Any changes will be communicated by Whitney Bank.

OVERDRAFT LINES OF CREDIT: These lines have been transferred to Whitney Bank. Please contact Whitney Bank if you have additional questions regarding your accounts.

LOAN PAYMENTS: You should continue to make your payments according to the terms of your written contract. You may continue to make your payments at the branch office or send them to the same payment address with checks made payable to First NBC Bank. You will receive a letter notifying you of the owner of your loan.

ESCROW PAYMENTS: All services previously performed related to your loan will continue. Should you receive notification that any portion of your taxes or insurance was not paid, notify your loan officer immediately.

LOANS IN PROCESS: Please contact your current loan officer directly.

SHARES OF STOCK: All shares of stock were owned by the holding company, First NBC Bank Holding Company, New Orleans, LA. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder, please do not contact or file a claim with the receiver. You must contact the holding company directly for more information:

First NBC Bank Holding Company
P.O. Box 61035
New Orleans, LA 70161-1035

CLAIMS: Please send claims to the following address:

FDIC as Receiver for First NBC Bank
1601 Bryan Street
Dallas, TX  75201
Attention: Claims Agent

DEPOSIT INSURANCE INFORMATION: If you have accounts in both First NBC Bank and Whitney Bank, they will be insured separately for at least six months following the merger of the banks. This will allow you time to restructure your accounts if necessary.

ADDITIONAL QUESTIONS: You may contact the FDIC Call Center at the number provided below with any additional questions:

FDIC Customer Service Department: (888) 206-4662
Monday - Friday (excluding federal holidays):8:00 AM - 4:00 PM Central Time

SCAMS: Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating that they are acting on behalf of either First NBC Bank, Whitney Bank, or the FDIC. If you are contacted by anyone requesting personal information from you related to this event, please contact the FDIC Call Center listed above to report the incident.

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