Increased construction activity and growth in commercial real estate and oil and gas service companies helped drive a strong second quarter for New Orleans-based First NBC Bank Holding Co.
The holding company for First NBC Bank reported its second-quarter earnings jumped to $12.4 million, or 65 cents per share, compared to $8.1 million, or 49 cents per share, a year ago.
First NBC’s total loans increased by $482.6 million at June 30, up 23.1 percent from a year ago. Total assets grew to $3.6 billion, an increase of 17.9 percent.
Favorable economic conditions in the New Orleans area continued to be the driving force in loan growth, according to First NBC. The company expects these positive growth trends to continue through the remainder of the year.
Meanwhile, net interest income rose to $26.6 million, a 37.9 percent increase from the $19.3 million reported a year earlier.