re: First NBC Bank selling 9 branches to Whitney

Ashton Ryan is pretty much out completely now.

Chance for a buyout has always been super low, since the "value" of the company is in tax attributes that are a lot less valuable if they get swallowed up by a larger bank.

They don't have a lot of paths forward.

1) They right themselves with the help of new management and new capital (not likely)
2) They get bought out but not swallowed up - i.e. someone comes in and buys them yet operates them as an independent entity (not likely)
3) FDIC shuts them down and the pieces and parts get spread out, and the tax attributed are lost)

Soon

And it's done

Whitney acquires transaction accounts and $1B of assets

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I heard #3 is a real possibility

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OK so it was LOFI and not FDIC.

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That's how it works. FDIC takes receivership after primary regulator revokes charter.

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I thought FDIC could step in directly if it's a multi-state bank?