First NBC bank IPO | TigerDroppings.com
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death valley driver
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CHOPPA CITY
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First NBC bank IPO

[quote]First NBC Bank Holding Company, a full-service bank operating more than 30 branches in the New Orleans metropolitan area, announced terms for its IPO on Tuesday. The New Orleans, LA-based company plans to raise $100 million by offering 4.2 million shares at a price range of $22 to $26.

At the midpoint of the proposed range, First NBC Bank Holding Company would command a fully diluted market value of $426 million. First NBC Bank Holding Company, which was founded in 2006 and booked $120 million in revenue for the 12 months ended 12/31/2012, plans to list on the NASDAQ and announced its ticker would be NBCB. Sandler O'Neill and Keefe Bruyette Woods are the joint bookrunners on the deal.

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Is this a buy??


Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
21567 posts

re: First NBC bank IPO
quote:

which was founded in 2006


Ohhhh so that's why it took them so long to develop that property on St. Charles Ave. by the McD's.

I remember seeing that sign (the one saying location coming soon) pre-Katrina or shortly after and it taking years to actually happen.


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LSURussian
LSU Fan
Member since Feb 2005
85145 posts

re: First NBC bank IPO
quote:

Is this a buy??
A speculative buy, counting on a larger bank some day buying them at a premium over their market price.


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schexyoung
LSU Fan
Deaf Valley
Member since May 2008
4563 posts

re: First NBC bank IPO
I worked on NBC as a consultant while I was in Public Accounting. We found several significant credit administration "issues" and our firm was released from our contract when we brought those "issues" to the top. I don't know if they have changed management since 2010, but I would be skeptical.

IMO there are a lot more regional FIs with better management groups and better performing loan portfolios.

Just my $.02.


LSURussian
LSU Fan
Member since Feb 2005
85145 posts

re: First NBC bank IPO
Isn't this the bank whose senior management founded it after the previous First NBC (First Commerce Corporation) bank got bought by Bank One back in the 1990's and they were let go by Bank One?


rsande2
LSU Fan
Member since Jan 2006
3423 posts

re: First NBC bank IPO
quote:

Isn't this the bank whose senior management founded it after the previous First NBC (First Commerce Corporation) bank got bought by Bank One back in the 1990's and they were let go by Bank One?


Pretty much. The main guy there is Ashton Ryan, he started FNBC then got bought out, think your right it was bank one, and could not operate for a certain number of years and is now in business again under the same name. I don't know him personally but have family and close friends that are close to him and that is the story as I remember it. I might be a little off on some minor details though.


Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
21567 posts

re: First NBC bank IPO
quote:

Pretty much. The main guy there is Ashton Ryan, he started FNBC then got bought out, think your right it was bank one, and could not operate for a certain number of years and is now in business again under the same name. I don't know him personally but have family and close friends that are close to him and that is the story as I remember it. I might be a little off on some minor details though.


Sounds like a nice gig if you can get it.


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