HANCOCK HOLDING COMPANY (NASDAQ:HBHC) Files An 8-K Other EventsItem 8.01.
HANCOCK HOLDING COMPANY (NASDAQ:HBHC) Files An 8-K Other Events
On March 10, 2017, to the previously disclosed Purchase and Assumption Agreement (the “P&A Agreement“), dated as of December 30, 2016, by and between Hancock Holding Company’s banking subsidiary Whitney Bank (“Whitney”) and First NBC Bank Holding Company’s banking subsidiary First NBC Bank (“First NBC”), Whitney completed the acquisition of certain loans and other assets from First NBC (the “Asset Acquisition“). The transaction was announced on December 30, 2016.
In the transaction, Whitney acquired approximately $1.3 billion in total loans (inclusive of approximately $300 million in previously closed tranches) and 9 branch locations, and assumed approximately $400 million in deposits and approximately $600 million in Federal Home Loan Bank of Dallas borrowings from First NBC. Whitney paid approximately $320 million in total cash in connection with the Asset Acquisition, including just under $42 million in a transaction premium.
Item 9.01. Exhibits.
(a) Financial statements of business acquired. Not applicable.
(b) Pro forma financial information. Not applicable.
(c) Shell company transactions. Not applicable.
About HANCOCK HOLDING COMPANY (NASDAQ:HBHC)
Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The Company operates through overall banking operations segment. Whitney Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas. The Bank operates across the Gulf South region comprising southern Mississippi; southern and central Alabama; southern Louisiana; the northern, central, and panhandle regions of Florida; Houston, Texas, and Nashville, Tennessee. The Bank offers a range of traditional and online community banking services to commercial, small business and retail customers, providing a variety of transaction and savings deposit products, treasury management services, investment brokerage services, secured and unsecured loan products, and letters of credit and similar financial guarantees. HANCOCK HOLDING COMPANY (NASDAQ:HBHC) Recent Trading Information
HANCOCK HOLDING COMPANY (NASDAQ:HBHC) closed its last trading session down -0.45 at 45.90 with 522,317 shares trading hands.
Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The Company operates through overall banking operations segment. Whitney Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas. The Bank operates across the Gulf South region comprising southern Mississippi; southern and central Alabama; southern Louisiana; the northern, central, and panhandle regions of Florida; Houston, Texas, and Nashville, Tennessee. The Bank offers a range of traditional and online community banking services to commercial, small business and retail customers, providing a variety of transaction and savings deposit products, treasury management services, investment brokerage services, secured and unsecured loan products, and letters of credit and similar financial guarantees. HANCOCK HOLDING COMPANY (NASDAQ:HBHC) Recent Trading Information
HANCOCK HOLDING COMPANY (NASDAQ:HBHC) closed its last trading session down -0.45 at 45.90 with 522,317 shares trading hands.