I have about $5,000 of stock in First NBC Bank in New Orleans. They were a great buy with positive growth. The stock has been down as of late do to their annual report issues. I am ready to sell my stock and take the hit but I keep hoping they will bounce back or be bought out by another bank. They were growing so fast but now the stock is down and they are at risk of being delisted from the stock exchange. Should I sell or keep it?

LINK

This post was edited on 8/15/16 at 11:07 pm

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Posted by LSURussian

Member since Feb 2005

127246 posts

Posted on 8/15/16 at 10:32 pm to GeauxTigers1983

I have no insider info nor do I know what is causing their regulatory filing delays.

However just last week it was disclosed in the Baton Rouge paper that they have filed a lawsuit against a Baton Rouge commercial developer for not paying interest or principle on a fairly sizeable loan. The numbers were quite big.

The developer is a politically connected guy who wanted to develop the Mississippi River commercial park next to Hollywood Casino near downtown. It's about 3 years past due getting started.

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Posted by LSUFanHouston

NOLA

Member since Jul 2009

37302 posts

Posted on 8/16/16 at 11:23 am to GeauxTigers1983

From public information out there, and included in your link, they are going to restate 2013 and 2014, which is causing also a delay for 2015.

I know they grew very fast through acquisitions and it may be that some of the numbers they used are bad.

The people running that bank are very smart and have success in the banking industry. Quite simply they grew too fast.

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