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The company plans to place a greater emphasis on commercial banking in cities such as Houston and Jacksonville, Fla.
May 24 -
A handful of banks, including CertusHoldings and Hancock Holding, have dual CEOs, which they believe helps with internal management and growth initiatives such as acquisitions.
March 22 -
Hancock Holding in Gulfport, Miss., has raised the ire of analysts and investors in an unusual way — by unveiling a plan to cut costs over the next two years.
April 26 -
The $8.3 billion-asset Hancock is buying the larger $11.5 billion-asset Whitney, which has faced growing losses and deteriorating credit quality for several quarters. The deal would expand Hancock's operations in the Southeast and create a combined institution with approximately $20 billion of assets.
December 22
Carl Chaney will have plenty of opportunities to work on a Cajun dialect.
Chaney, co-CEO at Hancock Holding in Gulfport, Miss., quietly relocated to New Orleans last week. The $19 billion-asset company's
"We've been having discussions about this for quite some time," says Chaney, who spent much of the last weekend unpacking. "It makes sense for me to be here night and day and entrench my family in the area."
The reasons are twofold, he says. New Orleans accounts for nearly 40% of Hancock's loans and deposits. Hancock
"When you look at where our markets are moving, the Mississippi coast is very stable but there's not a lot growth," Chaney says. "But when you look at southeast Louisiana boy, the market here is just exploding."
The energy sector has been a major contributor to Louisiana's economic rebound in recent years.
New Orleans is likely to remain a key contributor to Hancock's bottom line. The company announced last month that it would
Management has also been facing pressure from analysts to
The new set-up also affirms Hancock's decision to have two banks: Hancock Bank and Whitney Bank. "The two-bank structure has worked extraordinarily well," Chaney says. "It makes sense for us to keep that Whitney brand. The goodwill of both of those names is well worth it."
Chaney also kept his Gulfport office and plans to stop by that office from time to time. But living in New Orleans will also yield another benefit to the self-professed football fan.
"I'm a huge Saints fan, so being in the city is a wonderful plus," Chaney says. "And the culture of New Orleans is phenomenal."