$1 Billion Dollar hit to FDIC over First NBC Bank Closure

by John Galt April 28, 2017 23:20 ET Welcome back to FDIC Bank Failure Fridays! Tonight’s failure will cost taxpayers, er, the FDIC Deposit Insurance Fund over $996 million dollars which means this is no small hit. Here is the full press release and get ready for a larger wave of bank failures as we move into the second half of 2017: Whitney Bank, Gulfport, Mississippi, Assumes All Transactional Deposit Accounts of First NBC Bank, New Orleans, Louisiana FDIC to Mail Checks to Holders of Time Deposit Accounts, Including IRAs and…

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