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Hibernia Corporation Expands Presence in Louisiana Following Successful Bank Mergers

Strategic Insights

— 2 min read

Following the merger with State Bank and Trust, Hibernia Corporation has successfully converted the former bank's computer systems and installed new signs in various locations across Louisiana. The company's Ascension Parish president, Ken Bailey, expressed the bank's commitment to improving banking services and convenience in the region. As a result of the merger, Hibernia now has four offices in Ascension Parish and has pledged to introduce new products and services to support the economic growth of the River Parishes.

Key Takeaways:

  • Hibernia Corporation has successfully converted State Bank and Trust's computer systems and installed new signs in Donaldsonville, Prairieville, and Gonzales, marking the completion of the merger.
  • The bank is now operating under the Hibernia name, with the distinctive "Tower" symbol displayed on former State Bank and Trust offices.
  • Ken Bailey, Hibernia's Ascension Parish president, emphasized the bank's commitment to improving banking services and convenience, and to supporting the economic growth of the River Parishes.
  • The bank has introduced new products and services, including the "Back in a Flash or a Hundred in Cash" program, which guarantees a response to business loan requests within 72 hours or provides a cash guarantee of $100.
  • Hibernia has also introduced a simplified application form for loan requests under $35,000, eliminating the need for financial statements and tax returns.
  • As a result of the merger, Hibernia now has four offices in Ascension Parish and is poised to expand its presence in the region with new products and services.
  • The bank has a significant presence in the state, with assets of $6.7 billion and a pending merger with FNB Bancshares that would increase assets to approximately $7.1 billion.

Statistics:

  • Hibernia's assets grew to $6.7 billion following the second quarter, with a pending merger that would increase assets to approximately $7.1 billion.
  • The bank now has four offices in Ascension Parish: two in Donaldsonville and one each in Gonzales and Prairieville.
  • Hibernia ended the second quarter with assets of $6.7 billion, and the pending merger with FNB Bancshares would increase assets to approximately $7.1 billion.
  • The bank has 162 banking locations serving 24 parishes and 57 cities, representing more than 70% of the state's population.
  • Hibernia has a significant presence in the state's deposit market share, ranking first, second, or third in 18 parishes.

Sources:

  • Business Wire, August 1, 1995: "Hibernia Corporation Completes Merger with State Bank and Trust"
  • Hibernia Corporation press release, August 1, 1995: "Hibernia Corporation Expands Presence in Louisiana Following Successful Bank Mergers"

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