Hancock Whitney Corporation completed its acquisition of OFB Bancshares, Inc., the parent company of One Florida Bank, in an all-cash transaction valued at $377.6 million. The deal adds approximately $1.7 billion in loans and $1.8 billion in deposits, with Florida deposits representing 21% of total deposits on a pro forma basis. Management expects the acquisition to be immediately accretive to earnings, projecting high-single-digit earnings growth and approximately $15.8 million in annual cost savings, while one-time merger-related charges are expected to be $30 million. The transaction resulted in a Common Equity Tier 1 ratio of 11.4% at closing and met or exceeded Hancock Whitney's minimum return thresholds for IRR and ROIC. Systems conversion is expected in the fourth quarter of 2026, and the company anticipates leveraging One Florida Bank's local relationships to drive loan growth and expand fee income opportunities.
Hancock Whitney CorpCompleted acquisition expected to be immediately accretive with cost savings and growth.
HSBC Holdings PLC
State Street CorpAcquired by Hancock Whitney in a cash deal, providing value to shareholders.