Question

When the following institution failed and the FDIC became the receiver, depositors had to wait one month before they had access to their funds. First NBC Bank 210 Baronne Street New Orleans, LA 70112 FDIC Certificate #: 58302

True

False

Answer 1

true

this statement is yes

EXPLANATION ; when the first NBC bank 210 baronna street new orleans , la 70112 FDIC  

certificated # 58302 failed the FDIC was obiligation to payoff stockholders before insured deposit

this is always the case when the FDIC because the receiver of the failed bank this is because stake

holders especially the preferred stockholder have first right for their repayment in case of bank or institutions failure and ordinary depositors or shareholder are lost in the quieue