Gulfport, Miss.-based Hancock Holding Co. has signed deals to sell 10 branches — three in the Alexandria area — that the company planned to close by the end of the year.
Sabine State Bank in Many will buy two branches in Alexandria and one in Pineville. The deal includes about $20 million in loans and $30 million in deposits. The branches were formerly Whitney Bank locations. Hancock bought Whitney in late 2010 in a $1.5 billion deal.
Hancock has also agreed to sell seven branches in the greater Houston market to Texas Dow Employees Credit Union. The credit union will acquire around $34 million in loans and $30 million in deposits.
Hancock plans to shed 30 more branches by the end of the year.
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