- The company yesterday announced the sale of $1.3B in loans and and nine branches to Hancock Holding's (NASDAQ:HBHC) Whitney Bank. Alongside, Whitney will assume about $511M in deposits and $605M in FHLB borrowings.
- First NBC (OTC:FNBC) will pull in about $178M in cash at closing, with adjustments likely to boost total liquidity higher by more than $200M.
- Along with lifting liquidity, the deal should strengthen regulatory capital ratios by 300-400 basis points.
- Shares +15.1% premarket