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) September 22, 1994
September 19, 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
<PAGE>
Item 5. Other Events.
On September 19, 1994, the Registrant announced that it had
agreed to merge with American Bank, headquartered in Norco,
Louisiana, subject to the satisfaction of certain conditions,
including receipt of required regulatory approvals.
EXHIBIT INDEX
Exhibit Page
Number Description Number
28.2 News Release issued by the Registrant
on September 19, 1994 2
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: September 22, 1994 By: /S/ RONALD E. SAMFORD, JR.
Ronald E. Samford, Jr.
Chief Accounting Officer
NEWS RELEASE
HIBERNIA CORPORATION
HIBERNIA SIGNS MERGER AGREEMENT WITH AMERICAN BANK
TO EXPAND ITS SERVICES TO RIVER PARISHES REGION
For Additional Information: For Release:
MEDIA INQUIRIES:
Jim Lestelle, Manager IMMEDIATE
Corporate Communications
Office: (504) 533-5482 September 19, 1994
Home: (504) 488-8826
INVESTOR INQUIRIES:
Linda Meche, Manager
Finance & Investor Relations
Office: (504) 533-2180
Home: (504) 832-3604
NEW ORLEANS -- Hibernia Corporation announced it has signed a
definitive agreement to merge with the $93-million-asset American
Bank, headquartered in Norco.
The transaction will significantly expand Hibernia's coverage
of the river Parishes area outside New Orleans, a rapidly growing
industrial region, by giving it five banking offices in St. Charles
Parish: one each in Norco, Boutte, Destrehan, Hahnville and
Luling.
Based on Hibernia's Friday closing price of $8.125 per share,
shareholders of American Bank would receive approximately 4.6
shares of Hibernia stock for each share of American stock in a tax-
free pooling of interests valued at approximately $18.3 million.
The transaction is subject to approvals by regulators and American
shareholders and should be completed in early 1995.
"Customers have valued their relationship with American Bank
because we've made service our top priority," said Darryl Chauvin,
Page 2
Hibernia Corporation
president of the almost 30-year-old bank. "Hibernia will enhance
that commitment to service and offer our customers financial
products that haven't been available before."
Chauvin referred to Hibernia's upgraded and expanded statewide
ATM network, brokerage, trust services and private banking, among
others.
"St. Charles Parish is home to some of Louisiana's most
important and promising industries, as well as small businesses and
growing residential communities," said Hibernia president and CEO
Stephen A. Hansel. "A partnership with American Bank and its
excellent employees will improve our ability to serve businesses
and consumers upriver from New Orleans."
American customers will not see any changes for a number of
months. Only after the bank is converted to Hibernia's operating
systems would checks, signs and forms change. Until then, American
customers should continue using their checks, making loan payments
and conducting other transactions just as before.
Hibernia National Bank is Louisiana's largest statewide bank.
When the American Bank and other pending mergers are complete, it
will have $6.3 million in assets and 152 banking offices serving
New Orleans and the River Parishes, Baton Rouge, Lafayette and the
Acadiana region, Alexandria, Shreveport and northwest Louisiana,
and the northeast, including Monroe, West Monroe, Bastrop and
Tallulah.
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