The combined bank will be headquartered in Gulfport, although Hancock has said that it will maintain a small regional management office in New Orleans. The bank will operate under the brand name of Hancock in Mississippi, Alabama and Florida, while current Whitney Bank locations in Louisiana and Texas will keep that name.
Whitney has struggled for several years with bad loans in Florida, but returned to profitability in the first quarter.
The deal has been widely publicized, particularly after filings with the U.S. Securities and Exchange Commission revealed that Whitney had been in negotiations with another rival bank for more than three months before Hancock swooped in for the acquisition. The rival bank was later confirmed to be IberiaBank.
Other challenges include a class-action lawsuit filed on behalf of Whitney’s shareholders and a claim from a New York watchdog group that Hancock has a poor record of minority lending.
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C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Cypress Bayou GM hosts open house.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Georgia-based fried chicken chain would go up against Raising Cane’s, Chick-fil-A and others (like the Popeyes near its proposed location).
A Scott businessman has pleaded guilty to failing to report a conspiracy to award Opelousas Housing Authority construction bids to his company.
Court-appointed examiner says Lafayette businessman was “effectively on both sides” of transactions, opens door for legal action against him.
Lafayette-based insurance broker/risk management group bought by Florida firm for undisclosed sum; principals Landry and Harris continue to run local operations.
The House labor committee rejected bills Thursday that would have set the state minimum wage higher than the hourly federal rate of $7.25 and would have allowed local governments to set their own minimum wage.
Of the major oil- and gas-producing states, Louisiana gained nine rigs, Texas increased by seven, California gained three and New Mexico increased by one.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,101 from the previous week's total of 1,985. There were 2,444 initial claims during the comparable week in 2013.