November 16, 1994
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N. W.
Washington, D. C. 20549
Re: Hibernia Corporation
Current Report on Form 8-K
Commission File No. 1-10294
Dear Sirs:
Pursuant to rules and regulations adopted under the Securities
Exchange Act of 1934, as amended (the "Act"), transmitted hereby
for filing, on behalf of Hibernia Corporation (the "Company"), is
a Current Report on Form 8-K.
Pursuant to Section 13(a) of the Act, by copy hereof we are
filing with the New York Stock Exchange, the national securities
exchange on which the Common Stock of the Company is listed and
traded, two complete copies, including exhibits. Pursuant to
General Instruction E to Form 8-K, such complete copy being filed
with the Exchange has been manually signed on behalf of the
Company.
Please call the undersigned at (504) 533-2486 if you have any
questions concerning this filing.
Very truly yours,
/s/ PATRICIA C. MERINGER
Patricia C. Meringer
Secretary and Associate Counsel
PCM/gbp
cc: Joseph Lomnicky
Ron E. Samford, Jr.
Stephen D. M. Schuetz
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 16, 1994
November 4, 1994
Hibernia Corporation
(Exact name of issuer as specified in its charter)
Louisiana 1-10294 72-0724532
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
organization)
313 Carondelet Street, New Orleans, Louisiana 70130
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (504) 533-5332
Item 5. Other Events.
On November 4, 1994, the Registrant announced that it had
agreed to merge with STABA Bancshares, Inc., parent company of
First State Bank and Trust Company, headquartered in
Donaldsonville, Louisiana, subject to the satisfaction of certain
conditions, including receipt of required regulatory approvals.
EXHIBIT INDEX
Exhibit Page
Number Description Number
28.21 News Release issued by the Registrant
on November 4, 1994 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
HIBERNIA CORPORATION
(Registrant)
Date: November 16, 1994 By: /s/ RONALD E. SAMFORD, JR.
Ronald E. Samford, Jr.
Chief Accounting Office
EXHIBIT 28.21
NEWS RELEASE
HIBERNIA CORPORATION
For Additional Information: For Release:
HIBERNIA IMMEDIATE
MEDIA INQUIRIES: November 4, 1994
Jim Lestelle, Manager
Corporate Communications
Office: (504) 533-5482
Home: (504) 488-8826
INVESTOR INQUIRIES:
Linda Meche, Manager
Finance & Investor Relations
Office: (504) 533-2180
Home: (504) 832-3604
HIBERNIA SIGNS MERGER AGREEMENT WITH STABA BANCSHARES
THAT WOULD SIGNIFICANTLY BOOST SERVICE TO RIVER PARISHES
NEW ORLEANS -- Hibernia announced today it has signed a
definitive agreement to merge with STABA Bancshares, Inc.,
headquartered in Donaldsonville, a transaction that would make
Hibernia the leading bank in Ascension Parish in both number of
locations and deposits.
STABA operates State Bank of Donaldsonville, with $97 million
in assets. State Bank has two offices in Donaldsonville, one in
Gonzales and another targeted to open December 1 in Prairieville.
Combined with a pending merger with American Bank, the leading
bank in neighboring St. Charles Parish, the STABA merger will allow
Hibernia to significantly increase service to customers in the
River Parishes between New Orleans and Baton Rouge. It also will
give it another important West Bank location.
State Bank has 25% of deposits in Ascension; Hibernia, 4%,
with one office in Gonzales. Combined, they will account for 29%.
Based on Hibernia's November 3 closing price of $8.375 per
share, STABA shareholders would receive approximately 18 shares of
Hibernia stock for each STABA share in a tax-free pooling of
interests valued at approximately $18 million. The transaction is
subject to approvals by regulators and STABA shareholders and
should be completed in early 1995.
"With individuals and families holding more than two thirds of
State Bank's loans, it's obvious our employees have done a good job
serving the communities in which they live and work," said Kenneth
A. Bailey, chief executive officer. "I know State Bank customers
will enjoy the even wider variety of products and expanding office
network that Hibernia offers."
Bailey will continue as area president with Hibernia when the
merger is completed.
After the merger, Hibernia plans to consolidate its smaller
Gonzales location, which it leases at 2020 S. Burnside Ave., with
State Bank's larger and more attractive office at 1300 S. Burnside
Ave. Construction of State Bank's Prairieville office is
substantially complete.
"We're looking forward to continuing the long tradition of
service that State Bank has provided and introducing new financial
services that currently are not available to them, including
brokerage, annuities, trust and a lot more," said Stephen A.
Hansel, Hibernia's president and CEO.
State Bank customers should continue using their checks,
making loan payments and conducting other transactions just as
before. Only after the bank is converted to Hibernia's operating
systems would checks, signs and forms change.
Hibernia National Bank is Louisiana's largest statewide bank.
When the STABA Bancshares merger and three other pending mergers
are complete, it will have approximately $6.4 billion in assets and
156 banking offices serving 20 parishes and 52 cities. They
include New Orleans, Baton Rouge, Lafayette and the Acadiana
region, Alexandria, Shreveport/Bossier City, Monroe, West Monroe,
Bastrop and Tallulah.
