Nov 8 - The board of directors of Hancock Holding Company (Nasdaq: HBHC) has approved a plan to consolidate the legal charters of its two subsidiary banks (Hancock Bank and Whitney Bank) in the first quarter of 2014, pending receipt of required regulatory and bank board approvals.
"The consolidation, which supports our previously announced expense and efficiency initiative, will significantly reduce the considerable cost and complexity of maintaining two separate bank charters in this current regulatory environment," said President and CEO Carl J. Chaney.
"This change will have no noticeable impact on our customers, as the company will continue to do business under its two well-known brands, Whitney Bank in Louisiana and Texas and Hancock Bank in Mississippi, Alabama and Florida. Headquarters, executive leaders, and business and corporate departments will remain in Gulfport, New Orleans and Baton Rouge."
About Hancock Holding Company
Hancock Holding Company is the parent company of Hancock Bank in Mississippi, Alabama and Florida, and Whitney Bank in Louisiana and Texas. The Hancock Holding Company family of financial services companies also includes Hancock Investment Services Inc.; Hancock Insurance Agency and Whitney Insurance Agency Inc.; and corporate trust offices in Gulfport and Jackson, Miss., New Orleans and Baton Rouge, La., and Orlando, Fla.; and Harrison Finance Company. Additional information is available at www.hancockbank.com and www.whitneybank.com.