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Started By
Message
First NBC Bank selling 9 branches to Whitney
Posted on 1/1/17 at 7:51 am
Posted on 1/1/17 at 7:51 am
LINK
This is an act of desperation in my opinion. I think they are delaying the inevitable of selling itself as a whole. They are in a very bad position.
5
Posted on 1/1/17 at 8:28 am to GeauxTigers1983
What put the hurt on them? Falling oil prices?
Posted on 1/1/17 at 8:31 am to crazycubes
Improper tax credit accounting, significant internal control deficiencies and credit issues...some oil and gas related.
Posted on 1/1/17 at 8:32 am to crazycubes
They were counting tax credits as assets and the tax credits dried up. They expanded quickly based on the tax credits they were getting in rebuilding New Orleans from the Govt for Katrina recovery. The credits stopped and they realized they didn't have the capital they thought they did. They are in panic mode
Posted on 1/1/17 at 10:12 am to crazycubes
quote:Arrogant management at the top.
What put the hurt on them?
Posted on 1/1/17 at 5:26 pm to LSURussian
quote:
quote:
What put the hurt on them?
Arrogant management at the top.
This. My buddy's dad is a higher up at Gulf Coast Bank and Trust, says upper management at First NBC is a mess. Said they don't know their asses from their elbows.
Posted on 1/1/17 at 7:39 pm to Whodat28
The whole leadership needs to be replaced or the bank needs to sell itself because they wont be able to turn it around with the leadership they have in place.
Posted on 1/1/17 at 8:58 pm to GeauxTigers1983
So is now the time to buy? I wonder what book value is vs share price. If they are turning it around or selling, might it be time to pick up some shares?
Posted on 1/1/17 at 9:54 pm to Crbello4Hiceman
I wouldn't touch it.
Too many questions about what was sold.
But I will say this, I would map out the banks across the street from what was purchased. Might tell you who will buy the rest.
Too many questions about what was sold.
But I will say this, I would map out the banks across the street from what was purchased. Might tell you who will buy the rest.
Posted on 1/2/17 at 7:13 am to Mr.Perfect
quote:
Might tell you who will buy the rest.
Very true. They may be selling the branches that the other bank did not want to get more value and then sell itself to another bank.
Posted on 1/2/17 at 7:42 am to GeauxTigers1983
First NBC = Train Wreck
Avoid
Avoid
Posted on 1/2/17 at 9:05 am to soccerfüt
I disagree. They are positioning themselves for a buyout. It's their only play at the moment.
Posted on 1/2/17 at 9:10 am to SippyCup
quote:
They are positioning themselves for a buyout
I definitely agree. My money is on Iberia or Home Bank buying them out.
Posted on 1/2/17 at 9:31 am to GeauxTigers1983
What does it mean that they are selling them to "Whitney" ? Is Whitney operating separately from Hancock now?
Posted on 1/2/17 at 10:17 am to Cold Cous Cous
Hancock is the holding company that owns and operates Whitney Bank and a few other subsidiaries.
Posted on 1/2/17 at 11:11 am to SippyCup
To clarify, my warning to avoid FNB Bank was directed to potential retail banking consumers.
I wouldn't (personally) presently buy the stock but it might turn out to be a good investment.
FNBC (NASDAQ)
I wouldn't (personally) presently buy the stock but it might turn out to be a good investment.
FNBC (NASDAQ)
Posted on 1/2/17 at 12:41 pm to soccerfüt
I am thinking about buying $5,000 worth of First NBC stock. I think its low risk high reward. Either they turn it around and stock goes back up or they sell to another bank and I still win.
Posted on 1/2/17 at 1:16 pm to GeauxTigers1983
Or the FDIC places FNBC under receivership and the equity holders get wiped out.
This post was edited on 1/2/17 at 1:26 pm
Posted on 1/2/17 at 1:31 pm to GeauxTigers1983
quote:That will almost give you controlling interest in the bank....
I am thinking about buying $5,000 worth of First NBC stock.
Posted on 1/2/17 at 3:15 pm to Blue Horseshoe
True but I don't see that happening. First NBC is to ripe of a target to let that happen. They would be attractive for a buyout from another bank before it got that far.
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