NEW ORLEANS (AP) — The former CEO of Hancock and Whitney banks is taking over the reins of a troubled New Orleans bank.
First NBC Bank Holding Co. said Monday that it has named Carl Chaney as CEO, pending regulator approval.
Chaney retired from Hancock Holding Co. in 2015 after six years as co-CEO with John Hairston.
First NBC is selling nine branches and $1.3 billion in loans to the Whitney unit of Hancock after regulators cited credit problems in November.
The bank signed a consent order with the Federal Deposit Insurance Corp. and the Louisiana Office of Financial Institutions, agreeing to review management, accounting and loan review process and raise capital. The bank says the sale of branches and loans will raise such capital.
First NBC operates 39 branches in Louisiana and Florida.
