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Friday August 22nd 2014

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Story behind the Peoples closure

Peoples First was headquartered in Panama City. The News Herald reported on the closure of the bank and Mississippi-based Hancock Bank winning the FDIC bidding process for the bank.

For most of Friday, it looked like business as usual at Peoples First headquarters on 23rd Street, but as 5 p.m. approached, FDIC employees trickled into the building and collected on the seventh floor, which holds the bank’s executive offices. Most brought luggage with them, as they prepared for a weekend of work leading the transition process.

“This is frantic, to get everything inventoried and turned over to the acquiring institution,” Talbot said.

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