In Brief: Hibernia Buying Investment Banking Firm

NEW ORLEANS -- Hibernia Corp. said Tuesday that it has a deal to buy Southcoast Capital, a private investment banking firm.

Southcoast Capital, also of New Orleans, provides corporate finance, equity research, institutional equity sales and trading services to middle-market growth companies in the Gulf South, including industries such as energy, communications, and retail.

Terms of the deal, expected to close in the second quarter, were not disclosed.

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