Hancock, Whitney Strike DOJ Deal Over $1.5B Merger

Law360, New York (April 1, 2011, 3:41 PM EDT) -- Whitney Holding Corp. will sell eight of its bank branches to win U.S. Department of Justice approval of its $1.5 billion merger with Hancock Holding Co., the department said Friday.

By shedding the eight branches, which hold $202 million in deposits, Whitney resolves antitrust concerns, according to the DOJ.

Seven of the branches are in the Biloxi and Gulfport areas in Mississippi, and the remaining location is in Washington Parish, La. The branches' commercial loans will be included in the sale, the DOJ said.

“With the...
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