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First NBC Bank Holding Chapter 11 Bankruptcy

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First NBC Bank Holding filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Louisiana, case number 17-11213. The bank holding company is represented by William E. Steffes of Steffes, Vingiello & McKenzie.

On April 28, 2017, the Company’s wholly-owned banking subsidiary, First NBC Bank, was closed by the Louisiana Office of Financial Institutions; and the Federal Deposit Insurance Corporation (FDIC) was subsequently named Receiver. As a result of First NBC Bank’s closure, the Company’s total asset figure fell from the $4.7 billion reported in its most recent 10-K filing to just $1 to 10 million indicated in the Chapter 11 petition.

The U.S. Trustee assigned to the case scheduled a June 9, 2017 341-Meeting of Creditors.

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