GULFPORT, MS (AP) — Hancock Holding Co. says it will sell four Whitney Bank branches in Houston to Community Trust Bank of Ruston, Louisiana.
Community Trust Bank will acquire $15 million in loans and $135 million in deposits, pending regulatory approval. The sale is expected to close by the end of March.
No purchase price was disclosed.
Hancock is realigning its Houston operations to focus on business customers and selling traditional branches. It says it will open two more business-focused branches in the move.
Based in Gulfport, Hancock has $19.5 billion in assets, operating as Hancock Bank in Mississippi, Alabama and Florida and as Whitney Bank in Louisiana and Texas.
Community Trust Bank, a unit of Community Trust Financial Corp., has $3.5 billion in assets, with 36 offices in Louisiana, Texas and Mississippi.
