Hancock Whitney Acquires OFB Bancshares for $2.1 Billion

Hancock Whitney Corporation has agreed to acquire OFB Bancshares, Inc., the parent company of One Florida Bank, in an all-cash transaction valued at $2.1 billion. This acquisition marks Hancock Whitney's strategic entry into the Florida market, particularly in the economically robust Orlando area, and represents a significant move to expand its geographic footprint and client base.

Under the terms of the agreement, Hancock Whitney will integrate One Florida Bank’s six financial centers, primarily located in the Orlando region and the Florida Panhandle, into its operations. As of March 31, 2026, One Florida Bank reported substantial total assets and deposits, though specific figures were not disclosed. The deal is expected to close in the third quarter of 2026, pending regulatory and shareholder approval, and is projected to be immediately accretive to Hancock Whitney’s earnings per share, excluding one-time costs.

Hancock Whitney's President and CEO, John M. Hairston, highlighted Orlando's demographic potential and strong economic fundamentals as key drivers for the acquisition. He noted that the integration of One Florida Bank's local expertise with Hancock Whitney's broader scale and resources will enhance value delivery to clients and shareholders. Rick Pullum, CEO of One Florida Bank, emphasized that the partnership will provide expanded capabilities and resources, further accelerating growth from an established base of strong client relationships.

The acquisition positions Hancock Whitney to capitalize on the growth potential in Florida, where a robust economy and favorable demographics offer significant business opportunities. For competitors, the move underscores the strategic importance of scale and regional diversification in the financial services sector. The addition of Florida's dynamic market could potentially place pressure on regional banks to reevaluate their strategic initiatives and growth trajectories.

The transaction awaits necessary approvals and is anticipated to satisfy standard closing conditions. Hancock Whitney's financial advisor on the deal is Raymond James & Associates, while Wachtell, Lipton, Rosen & Katz serves as legal counsel. OFB Bancshares engaged Piper Sandler & Co. as its financial advisor, with legal advice from Smith Mackinnon, PA. Stakeholders and industry observers will likely watch closely to see how the merged entity performs in an increasingly competitive and consolidating banking landscape.