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) January 20, 1994
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(January 12, 1994)
Hibernia Corporation
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(Exact name of issuer as specified in its charter)
Louisiana 1-10294 72-0724532
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
organization)
313 Carondelet Street, New Orleans, Louisiana 70130
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (504) 587-5332
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Item 5. Other Events.
On January 12, 1994, the Registrant announced that it had
signed a new data processing contract with Systematics Financial
Services, Inc., a provider of software development and data
processing services to the banking industry worldwide. The new
contract will begin in early 1995 and is expected to provide
substantial savings in the Registrant's data processing costs over
its eight-year term. The Registrant recorded a $12.0 million non-
recurring charge in the fourth quarter of 1993 to reflect costs
associated with this change in vendors and related software.
The Registrant also announced on January 12, 1994 that it had
recorded a $17.5 million negative provision for loan losses in the
fourth quarter of 1993, resulting in a full-year negative provision
of $6.2 million.
EXHIBIT INDEX
Exhibit Page
Number Description Number
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N/A N/A N/A
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: January 20, 1994 By: /s/ Ronald E. Samford, Jr.
_______________________________
Ronald E. Samford, Jr.
Chief Accounting Officer
