On September 16, 2016, the Board of Directors of First NBC Bank Holding Company appointed Shivan Govindan as Chairman of the Board, effective immediately. Mr. Govindan has served as a director of First NBC since its inception in 2006 and had served as Vice Chairman since 2013. Prior to the Board's decision to separate the offices of Chairman and Chief Executive Officer as a good corporate governance practice, Chief Executive Officer and President Ashton J. Ryan had served in the dual capacity. Mr. Govindan's compensation arrangements, as previously disclosed, were not changed in connection with his appointment as Chairman of the Board.