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Hancock Whitney Receives Regulatory Approvals for its Acquisition of Sabal Trust Company

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Hancock Whitney (HWC) has received all regulatory approvals for its subsidiary Hancock Whitney Bank to acquire Sabal Trust Company, a non-depository trust company based in St. Petersburg, Florida. The acquisition, initially announced on January 21, 2025, is expected to close on May 2, 2025, subject to remaining customary closing conditions.

Sabal Trust Company reported revenues of $22.1 million for the year ending December 31, 2024, and managed approximately $3 billion in assets under management as of the same date.

Hancock Whitney (HWC) ha ricevuto tutte le approvazioni regolatorie per la sua controllata Hancock Whitney Bank per acquisire Sabal Trust Company, una società fiduciaria non depositaria con sede a St. Petersburg, Florida. L'acquisizione, annunciata inizialmente il 21 gennaio 2025, dovrebbe concludersi il 2 maggio 2025, soggetta al rispetto delle consuete condizioni di chiusura.

Sabal Trust Company ha riportato ricavi di $22,1 milioni per l'anno che si è concluso il 31 dicembre 2024 e gestiva circa $3 miliardi in attività sotto gestione alla stessa data.

Hancock Whitney (HWC) ha recibido todas las aprobaciones regulatorias para que su filial Hancock Whitney Bank adquiera Sabal Trust Company, una compañía fiduciaria no depositaria con sede en St. Petersburg, Florida. La adquisición, anunciada inicialmente el 21 de enero de 2025, se espera que se cierre el 2 de mayo de 2025, sujeto a las condiciones habituales de cierre.

Sabal Trust Company reportó ingresos de $22.1 millones para el año que terminó el 31 de diciembre de 2024, y gestionaba aproximadamente $3 mil millones en activos bajo gestión a esa misma fecha.

핸콕 휘트니 (HWC)는 자회사인 핸콕 휘트니 은행이 플로리다주 세인트피터즈버그에 본사를 둔 비예금 신탁회사인 사발 트러스트 컴퍼니를 인수하기 위한 모든 규제 승인을 받았습니다. 이 인수는 2025년 1월 21일에 처음 발표되었으며, 2025년 5월 2일에 마감될 예정이며, 남아 있는 관례적인 마감 조건에 따라 다릅니다.

사발 트러스트 컴퍼니는 2024년 12월 31일로 끝나는 연도에 $2210만의 수익을 보고했으며, 같은 날짜 기준으로 약 $30억의 자산을 관리하고 있었습니다.

Hancock Whitney (HWC) a reçu toutes les approbations réglementaires pour que sa filiale Hancock Whitney Bank acquière Sabal Trust Company, une société de fiducie non dépositaire basée à St. Petersburg, en Floride. L'acquisition, annoncée initialement le 21 janvier 2025, devrait se conclure le 2 mai 2025, sous réserve du respect des conditions de clôture habituelles.

Sabal Trust Company a déclaré des revenus de 22,1 millions de dollars pour l'année se terminant le 31 décembre 2024, et gérait environ 3 milliards de dollars d'actifs sous gestion à la même date.

Hancock Whitney (HWC) hat alle regulatorischen Genehmigungen erhalten, damit ihre Tochtergesellschaft Hancock Whitney Bank die Sabal Trust Company, ein nicht-depotpflichtiges Treuhandunternehmen mit Sitz in St. Petersburg, Florida, erwerben kann. Die Akquisition, die ursprünglich am 21. Januar 2025 angekündigt wurde, soll am 2. Mai 2025 abgeschlossen werden, vorbehaltlich der verbleibenden üblichen Abschlussbedingungen.

Sabal Trust Company meldete für das Jahr, das am 31. Dezember 2024 endete, Einnahmen von 22,1 Millionen US-Dollar und verwaltete zum gleichen Datum etwa 3 Milliarden US-Dollar an verwalteten Vermögenswerten.

Positive
  • Acquisition adds $3 billion in assets under management
  • Adds $22.1 million in annual revenue stream
  • Expands presence in Florida market
Negative
  • None.

GULFPORT, Miss.--(BUSINESS WIRE)-- Hancock Whitney Corporation (Nasdaq: HWC) (the “Company”) announced that Hancock Whitney Bank, its wholly owned bank subsidiary, received all regulatory approvals to complete its proposed acquisition of the non-depository trust company, Sabal Trust Company (“Sabal”), based in St. Petersburg, Florida.

The proposed acquisition was announced on January 21, 2025, and is expected to close on May 2, 2025, subject to the satisfaction or waiver of the remaining customary closing conditions. Sabal earned revenues of $22.1 million in the year ended December 31, 2024, and had assets under management of approximately $3 billion at December 31, 2024.

About Hancock Whitney

Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; and mortgage services. The company also operates combined loan and deposit production offices in the greater metropolitan areas of Nashville, Tennessee and Atlanta, Georgia. More information is available at www.hancockwhitney.com.

About Sabal Trust Company

Sabal Trust Company is the largest independent, employee-owned non-depository trust company in Florida. Sabal Trust Company is headquartered in St. Petersburg, Florida, and has additional offices in Tampa, Sarasota, and the Villages, Florida and has assets under management of approximately $3 billion. Sabal Trust Company provides trust administration, investment management, retirement planning, estate settlement, and family office services. More information is available at www.sabaltrust.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of, and subject to the protections of, section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “forecast,” “goals,” “targets,” “initiatives,” “focus,” “potentially,” “probably,” “projects,” “outlook," or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events.

Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Statements about the proposed acquisition, including future financial and operating results, may differ materially from those set forth in the forward looking statements, including as a result of changes in the level of business contracts to be acquired, the ability to retain customers and employees following closing and the ability to realize expected cost savings or other synergies from the acquisition. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 and in other periodic reports that we file with the SEC.

For More Information

Kathryn Mistich, VP, Investor Relations Manager

(504) 539-7836 or kathryn.mistich@hancockwhitney.com

Source: Hancock Whitney Corporation

FAQ

What is the value of assets under management at Sabal Trust Company being acquired by HWC?

Sabal Trust Company had approximately $3 billion in assets under management as of December 31, 2024.

When is the expected closing date for HWC's acquisition of Sabal Trust Company?

The acquisition is expected to close on May 2, 2025, subject to customary closing conditions.

How much revenue did Sabal Trust Company generate in 2024?

Sabal Trust Company earned revenues of $22.1 million in the year ended December 31, 2024.

What regulatory milestone has HWC achieved for the Sabal Trust acquisition?

Hancock Whitney Bank has received all necessary regulatory approvals to complete the proposed acquisition.
Hancock Whitney Corporation

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