Hancock Whitney Receives Regulatory Approvals for its Acquisition of Sabal Trust Company
Hancock Whitney Corporation (NASDAQ:HWC) (the "Company") announced that Hancock Whitney Bank, its wholly owned bank subsidiary, received all regulatory approvals to complete its proposed acquisition of the non-depository trust company, Sabal Trust Company ("Sabal"), based in St. Petersburg, Florida.
The proposed acquisition was announced on January 21, 2025, and is expected to close on May 2, 2025, subject to the satisfaction or waiver of the remaining customary closing conditions. Sabal earned revenues of $22.1 million in the year ended December 31, 2024, and had assets under management of approximately $3 billion at December 31, 2024.
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; and mortgage services. The company also operates combined loan and deposit production offices in the greater metropolitan areas of Nashville, Tennessee and Atlanta, Georgia. More information is available at www.hancockwhitney.com.
About Sabal Trust Company
Sabal Trust Company is the largest independent, employee-owned non-depository trust company in Florida. Sabal Trust Company is headquartered in St. Petersburg, Florida, and has additional offices in Tampa, Sarasota, and the Villages, Florida and has assets under management of approximately $3 billion. Sabal Trust Company provides trust administration, investment management, retirement planning, estate settlement, and family office services. More information is available at www.sabaltrust.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of, and subject to the protections of, section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words "believes," "expects," "anticipates," "estimates," "intends," "plans," "forecast," "goals," "targets," "initiatives," "focus," "potentially," "probably," "projects," "outlook," or similar expressions or future conditional verbs such as "may," "will," "should," "would," and "could." Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events.
Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Statements about the proposed acquisition, including future financial and operating results, may differ materially from those set forth in the forward looking statements, including as a result of changes in the level of business contracts to be acquired, the ability to retain customers and employees following closing and the ability to realize expected cost savings or other synergies from the acquisition. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 and in other periodic reports that we file with the SEC.
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For More Information
Kathryn Mistich, VP, Investor Relations Manager
(504) 539-7836 or [email protected]