First NBC was the creation of Ashton Ryan Jr., who chose a name that recalled First National Bank of Commerce, a prominent New Orleans bank that was acquired by Bank One in 1998.Now that the scheme has fallen apart, the direct line it draws through that whole scene is interesting.
As the new bank grew, so too did Ryan's celebrity, earning him status as the city's best-known banker, even though his bank was far from the biggest. He earned roughly $1.6 million in total compensation in 2015.
Over the years, he's been a regular presence within many of the city's civic groups, including the boards of Greater New Orleans Inc., the University of New Orleans Foundation and Junior Achievement of Greater New Orleans.
He's also been recognized for his civic contributions, including by the New Orleans Council for Community and Justice, which awarded Ryan its annual Weiss Award in 2014.
Cantrell said the couple refinanced their home in 2013 in order to pay off the debt, with a portion of their regular mortgage payments intended to go toward their tax bill. Parish records confirm the couple obtained a mortgage from First NBC Bank that year for $210,000.I don't actually think LaToya's tax bill is a big deal. Bagneris's taxes are also in this story. It's not a scandal either. In LaToya's case it looks like a failed bank has screwed up her paperwork. It's not uncommon. It is kind of a fun deal that the failed bank is First NBC, though. Maybe that's a coincidence. It's a small town.
But the IRS apparently never received those payments from First NBC, and the agency put a lien on the property the following year, Cantrell said, blaming the bank for the error.
Cantrell said she expects the IRS to issue a letter soon indicating that the problem has been resolved, but she would not say whether she and her husband have paid off the entire tax bill at this point.
Whitney Bank took over the mortgage after First NBC went bust this spring, and Cantrell said she has asked that bank to provide a letter confirming her description of what happened.