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The FDIC has selected DebtX to sell $1 billion in loans it obtained after being named the receiver for First NBC Bank.
New Orleans-based First NBC Bank closed its doors in late April. First NBC had $3.33 billion in assets at March 31 and Hancock Holding Co. agreed to acquire $1 billion of assets after a relatively quick marketing process that lasted a few weeks.
The FDIC has used DebtX, an online marketplace for loans that allows buyers to review extensive documentation tied to the assets, to execute 77 transactions with more than $5.4 billion in unpaid principal...