Hancock Whitney has 186 locations in the five states that are adjacent to the Gulf and has been successful in markets in western Florida but has not yet been able to expand to its Atlantic and central regions. This acquisition will increase its loans and deposits in the state by 30 percent.
Rick Pullum, CEO and President of One Florida, will be retained and lead the new combination of banks. Pullum expressed his pride in the banking system his company has built in the Orlando market with its engagement in the community and strong client relationships. He added:
“Partnering with Hancock Whitney allows us to accelerate that momentum while gaining access to broader resources, expanded capabilities and a larger platform for growth.”
News of such purchases and their benefits for a company and its clients is often made known throughout a community with flyer printing.
John Hairston, CEO of Hancock Whitney, said that Orlando is a high-growth and dynamic market, making this is significant step in the strategy of the company for its long-term growth.
This is an all-cash deal with a purchase price of $377.60 million and requires the approval of OFB shareholders next month. It is set to close in the third quarter of this year.