Hancock Whitney Bank acquires One Florida Bank

Hancock Whitney Corporation is set to acquire OFB Bancshares, Inc., the parent company of One Florida Bank, in a transaction valued at $2.1 billion. The deal, announced today, will be executed as an all-cash transaction and marks a strategic expansion for Hancock Whitney into the Florida market.

The acquisition will involve One Florida Bank's operations, encompassing five financial centers in the greater Orlando area and an additional location in the Florida Panhandle. According to the companies’ joint statement, the transaction is slated to close in the third quarter of 2026. Hancock Whitney projects that the deal will immediately enhance its GAAP earnings per share, excluding one-time transaction expenses, and aligns with its internal financial metrics for returns on investment and capital.

John M. Hairston, President and CEO of Hancock Whitney, highlighted the strategic significance of the move, citing Orlando's robust economic conditions and demographic dynamics as pivotal elements that align with Hancock Whitney's growth objectives. Hairston emphasized the potential for increased client engagement and value creation by leveraging the complementary strengths of both banks in terms of scale, resources, and product offerings. Meanwhile, Rick Pullum, President and CEO of One Florida Bank, noted that partnering with Hancock Whitney provides access to a broader platform and expanded capabilities, enhancing growth prospects for the local bank.

The acquisition underscores Hancock Whitney's intent to bolster its presence in high-growth markets, a strategy that could prompt competitive challenges among regional players. With One Florida Bank's focus on personalized, community-driven banking services, the deal is likely to intensify competition in Florida's financial services sector, compelling other institutions to reassess their strategies in the region.

Completion of the transaction is subject to regulatory and shareholder approvals, along with customary closing conditions. Financial advisors for this acquisition include Raymond James & Associates for Hancock Whitney and Piper Sandler & Co. for OFB Bancshares. The legal proceedings are being handled by Wachtell, Lipton, Rosen & Katz for Hancock Whitney, and Smith Mackinnon, PA for OFB Bancshares. As both parties progress towards finalizing the acquisition, the market will be watching the regulatory landscape and shareholder reception closely.