How To Get The Featured Post Excerpt?

My theme (Hickory) has a featured post area but doesn’t show the excerpt. I’m customizing it and have been trying to figure out how to pull the excerpt, but with no luck.

I can get the permalink and the post title with this:

<?php echo get_permalink($postid[0]) ?>
and
<?php echo get_the_title($postid[0]); ?>

But I can’t get the excerpt with $postid[0]

Any ideas?! Thanks in advance!