NEW ORLEANS - Hibernia Corp. on Monday announced its intention to buy First Continental Bancshares in a cash and stock transaction valued at $62.8 million.

The deal is Hibernia's first New Orleans-area acquisition since September 1989 and its second-largest in Louisiana.

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.