DBRS rates Whitney Bank debt A (low)

DBRS said it confirmed the ratings of Hancock Holding Co. and its rated bank subsidiaries, including Hancock's issuer and senior debt rating of A (low), following the completion of Hancock's acquisition of Whitney Holding Corp.

Furthermore and reflecting the assumption of the outstanding subordinated debt issued by Whitney National Bank, DBRS assigned a subordinated debt rating of A (low) with a negative trend to Whitney Bank.

Whitney Bank, formerly known as Hancock Bank of Louisiana, is a wholly owned bank subsidiary of Hancock. The trend on the short-term instrument ratings of Hancock's banking subsidiaries remains stable. All other ratings remain on negative trend.

The confirmation of Hancock's ratings reflects the view that the combination of Hancock and Whitney creates a top tier Gulf coast regional banking company that is underpinned by deeply rooted community-based banking franchises, especially within the legacy markets of Southern Louisiana and coastal Mississippi, the agency said.

The confirmation is also underpinned by Hancock's solid credit culture, resilient earnings and conservative capital philosophy, the agency added.

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