Kroll Bond Rating Agency Assigns BBB/K3 Senior Long-Term and Short-Term Debt Ratings to First NBC Bank Holding Company

NEW YORK--()--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term rating of K3 to First NBC Bank Holding Company (NASDAQ: FNBC) (“FNBC” or the “Company”), a bank holding company headquartered in New Orleans, Louisiana. In addition, KBRA has assigned a senior deposit rating of BBB+ and a short-term rating of K2 to First NBC Bank (the “Bank”). The outlook on all ratings is stable.

      Ratings            

Entity

   

Type

    Rating     Outlook

First NBC Bank Holding

Company

    Senior Unsecured Debt     BBB     Stable
RSSD ID: 3485541     Subordinated Debt     BBB-     Stable
     

Short-Term

 

    K3      
First NBC Bank     Senior Deposit     BBB+     Stable
FDIC Certificate #: 58302     Short-Term     K2      

The ratings are supported by FNBC’s sound financial fundamentals as indicated by the Company’s strong market presence in New Orleans, seasoned leadership, as well as positive earnings metrics. These strengths are balanced by concerns surrounding the Company’s rapid growth and concentrated footprint in a geographic area previously depressed due to natural disaster as well as a high concentration of commercial lending.

To view the report, please use the following link: https://www.krollbondratings.com/show_report/1932

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

Contacts

Analytical:
Kroll Bond Rating Agency
Leah Hallfors, 240-394-4147
Senior Analyst
lhallfors@kbra.com
or
Marjan Riggi, 646-731-2354
Managing Director
mriggi@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Leah Hallfors, 240-394-4147
Senior Analyst
lhallfors@kbra.com
or
Marjan Riggi, 646-731-2354
Managing Director
mriggi@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com