Hancock Holding gets approval to merge with Whitney - WLOX.com - The News for South Mississippi

Hancock Holding gets approval to merge with Whitney

GULFPORT, MS (WLOX) -

Hancock Holding Company announced Friday that the company has received all federal regulatory approvals required in its proposed merger of Whitney Holding Corporation. The closing of the merger should be effective at 11:59 pm on Saturday, June 4, 2011.

"Hancock and Whitney were both founded to facilitate commerce and opportunities for people throughout the Gulf South region," said Hancock Holding Company President and Chief Executive Officer Carl J. Chaney.

"For more than a century, both institutions have served complementary geographical footprints according to core values that reflect the spirit of those communities -- integrity, service, resilience, and teamwork. We believe today's announcement presents an unprecedented opportunity to enhance shareholder value and strengthen the financial options available to individuals and businesses from Texas to Central Florida."

Hancock officials say the combined company is expected to be the 32nd largest bank holding company headquartered in the United States with approximately $20 billion in total assets, $16 billion in deposits, $12 billion in loans, over 300 branches, nearly 400 ATMs, and almost 5,000 employees across the five contiguous states of Texas, Louisiana, Mississippi, Alabama, and Florida.

Copyright 2011 WLOX. All rights reserved.

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