President of First NBC Bank Steps Down

One of the founders of the troubled First NBC Bank has resigned as president of the New Orleans based company.

Ashton Ryan, Jr. stepped down effective April 6.  The bank says he will continue to work with the company in an "advisory capacity."

The bank has faced questions about its capital level and accounting practices and the stock price has plunged by nearly 90% since December 2015 to under $4 per share.

Earlier this year, First NBC sold nine branches the Hancock Holding Company.

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