NEW ORLEANS - Hibernia Corp. signed a definitive agreement to acquire Bank of St. John in LaPlace, La., in a stock swap valued at $26 million.

Bank of St. John has $113 million of assets and four offices: two in LaPlace and one each in Reserve and Edgard.

The acquisition, which is expected to be completed by mid-year after regulatory approvals, will boost Hibernia's deposits in St. John Parish from $41 million to nearly $137 million, giving it the No. 1 market share.

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