The decline and fall of First NBC Bank: What happened? | The Advocate

The affidavit, filed in Orleans Parish Civil District Court on April 28, the day of the seizure, added that First NBC was "in an unsafe and unsound condition, and cannot any longer continue the business of banking."

Despite a tumultuous year for the New Orleans-based bank that saw its stock price tumble by 90 percent ahead of the closing, the sudden failure still caught many observers by surprise.

Ducrest's affidavit shows the situation deteriorated rapidly, with the bank taking heavy losses in recent months in its portfolio of loans and tax-credit investments, despite measures to shore up its finances.

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SBA OKs funds for Isaac loans | The Advocate

The U.S. Small Business Administration has approved more than $63 million in federal disaster loans for Louisiana homeowners, renters and businesses who sustained damage from Hurricane Isaac.

SBA District Director Michael Ricks said the agency approved $60 million in loans to 1,865 residents and $3.2 million in loans to 90 businesses and private, nonprofit organizations impacted by the disaster.

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Shareholders approve Hancock buyout of Whitney | BusinessWeek

Hancock Holding Co.'s proposed acquisition of Gulf Coast banking rival Whitney Holding Corp. was approved Friday by shareholders of both companies. In a joint statement, the two companies said the deal was backed by 98.4 percent of Hancock's shareholders and 98.7 percent of Whitney's common shareholders.

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More bank mergers are likely on the horizon | NOLA.com

The past few months have seen a frenzy of marriages between local banks, and it's only the beginning. In December, Mississippi-based Hancock Holding Co. announced it was merging with Whitney Holding Corp., creating the second largest bank in the New Orleans area. In February, Lafayette-based IberiaBank Corp. announced it was buying Omni Bancshares Inc. to deepen its presence in the New Orleans area, and then in March, announced it was buying Cameron Bancshares Inc. to get into Lake Charles...

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Whitney Nat'l Bank merges with Mississippi bank | DailyComet.com

In a $1.5 billion merger announced Wednesday, the parent company of Hancock Bank of Gulfport will buy Whitney National Bank of New Orleans. Whitney has nine branches in Terrebonne and Lafourche...

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