Capital Briefs: Hibernia Can Merge Texas, Louisiana Banks

The Office of the Comptroller of the Currency said Hibernia National Bank of Texas may be folded into Hibernia National Bank, New Orleans. The Texas offices will be operated as branches of the Louisiana bank.

Hibernia Corp. president and chief executive officer Stephen A. Hansel said the merger would save the $13 billion-asset company money on accounting and marketing. A prohibition against out-of-state banks operating branches in Texas was overturned last spring when the Supreme Court refused to hear an appeal by Lone Star State regulators.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER