Hancock, Whitney shareholders to vote on merger

GULFPORT — Hancock Holding Co.’s proposed buyout of its longtime Gulf Coast banking rival, New Orleans-based Whitney Holding Corp., will be judged today by shareholders of both companies.

Separate shareholder meetings are scheduled to decide whether to go along with Hancock’s $1.5-billion stock-for-stock deal to acquire Whitney. Both groups have to approve.

The companies also are awaiting federal banking approval. Hancock hopes to close the acquisition during the current fiscal quarter.

The combined bank will have about $20 billion in assets and about $16 billion in total deposits.

Source: AP