Mississippi-based Hancock Holding Co. is buying New Orleans-based Whitney Holding Co. in a $1.5 billion stock deal. The combined company will be headquartered in the Crescent City and branches will retain their current branding and identity; branches in Alabama, Mississippi and Florida will remain Hancock Bank locations and Whitney Bank branches in Louisiana and Texas will retain the Whitney name.

The 127-year-old Whitney is Louisiana’s largest bank, with $11.5 billion in assets. The new Hancock-Whitney company will have $20 billion in assets.

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