Moving to dominate Louisiana, New Orleans-based Hibernia Corp. said Tuesday it had agreed to purchase CM Bank Holding Co. for $201.7 million in cash.

The deal - Hibernia's second of the week - would place it neck-and-neck with First Commerce Corp., now the state's largest banking company. Each company would hold 17% of Louisiana's deposits.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.