Stephen A. Hansel, chief executive officer of New Orleans-based Hibernia Corp., is happy to watch hometown rival First Commerce Corp. be swallowed by Banc One Corp. of Columbus, Ohio.

Banc One's planned purchase of First Commerce-which is scheduled to close in the first quarter-will change the competitive landscape in Louisiana and position $10.1 billion-asset Hibernia as one of the last big home-state banks.

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