Will first NBC bank get bought out? And if so what you think payout to share holders could be
You're not understanding the big picture here.
1) When someone buys a share of FNBC (now FNBCQ) they are buying a share of stock in a Bank Holding Company [BHC]. Period.
2) The actual bank inside of that BHC was First NBC .
3) FNBC was a wholly-owned subsidiary and the principal asset of the BHC. On April 28, 2017 that principle asset was seized by the Louisiana State Banking regulators... and the FDIC was appointed receiver of those assets. The FDIC in turn sold those assets and they now belong to another banking company.
Think of it this way - FNBCQ (the BHC) is like a "bath tub" full of dirty water.. and First NBC bank was the "baby" in that bathtub...but now that the baby has been removed and sold to another company what you own when you hold shares of FNBCQ is the bathtub and the dirty water. Period.
Essentially FNBCQ company is a "shell"...and it's that shell that filed for bankruptcy.
What you have to determine is - What is that bathtub full of dirty water (liabilities) worth?
Keep in mind that the BHC's creditors have first legal claim to any crumbs that might be left over. Shareholders are on the bottom of the totem pole when it comes to rights in a bankruptcy.
Marker: First NBC Bank Holdi (FNBCQ) $0.10 up 0.0082 (8.93%) Volume: 1,526,612
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