October 6, 1995
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/ RANDOLF F. KASSMEIER
Randolf F. Kassmeier
Vice President and Associate Counsel
RFK/gbp
Enclosures
cc: Joseph Lomnicky
Ron E. Samford, Jr.
Stephen D. M. Schuetz
<PAGE>
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) October 6, 1995
_________________
September 7, 1995
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 7, 1995, the Registrant announced that it had
agreed to merge with Bunkie Bancshares, Inc., a state bank
headquartered in Bunkie, Louisiana, subject to the satisfaction of
certain conditions, including receipt of required regulatory
approvals.
EXHIBIT INDEX
Exhibit Page
Number Description Number
28.24 News Release issued by the Registrant
on September 7, 1995 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: October 6, 1995 By: /s/ RONALD E. SAMFORD, JR.
Ronald E. Samford, Jr.
Chief Accounting Officer
<PAGE>
EXHIBIT 28.24
NEWS RELEASE
HIBERNIA CORPORATION
For Additional Information: For Release:
IMMEDIATE
September 7, 1995
MEDIA INQUIRIES:
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 MERGER WITH BUNKIE BANCSHARES
WOULD EXPAND COVERAGE OF CENTRAL LOUISIANA
NEW ORLEANS -- Hibernia announced today it has signed a
definitive agreement to merge with Bunkie Bancshares, Inc., parent
of Bunkie Bank & Trust Company.
The transaction would expand Hibernia's coverage of Central
Louisiana to Avoyelles Parish. Bunkie's 32% deposit market share,
the largest in Avoyelles, would increase Hibernia's share in the
region to 26% from 19%.
Bunkie Bank & Trust, founded in 1953, had $109 million in
assets at June 30, 1995, and three offices: one each in Bunkie,
Cottonport and Marksville.
Bunkie shareholders would receive approximately 170 shares of
Hibernia stock for each Bunkie share in a tax-free pooling of
interests, or 1,874,760 shares of Hibernia stock valued at
<PAGE>
approximately $19.7 million. The merger is subject to approvals by
regulators and Bunkie shareholders and should be completed by the
end of the year.
"For decades, Bunkie Bank & Trust has supported the community
with financial strength and a commitment to service," said Stephen
A. Hansel, Hibernia president and chief executive officer.
"They've been very successful, and Hibernia pledges to continue
that tradition of customer service and hometown banking."
"Hibernia has been well-established in neighboring Rapides
Parish for many years. With this merger, we'll have more banking
offices in central Louisiana than any other bank."
Hansel pointed out that Hibernia's statewide network, longer
hours and 24-hour telebanking will enhance banking convenience for
Bunkie customers. He also explained that its expansion into
Avoyelles would make Hibernia's $7.2 billion in resources and its
comprehensive products and services, including investment products,
available to more agribusinesses, consumers and small businesses.
Lynn Bordelon, president of Bunkie Bank & Trust, will serve as
Hibernia's area president.
"We're pleased that so many customers have placed their trust
in Bunkie Bank over the years," Bordelon said. "I know they'll
appreciate the new products Hibernia will offer, and they'll
continue to receive excellent service from the same hometown people
they know today. Our partnership with Hibernia will help our
customers, our community and our employees."
<PAGE>
Bordelon also emphasized that Hibernia is serious about its
corporate citizenship, donating approximately $1.5 million annually
throughout the state for education, health and human services,
community services, and art and culture. "That commitment will
continue in Avoyelles Parish," he said, "because Hibernia wants to
improve the quality of life where its customers and employees live
and work."
Bunkie Bank & Trust customers should continue using their
checks, making loan payments and conducting other transactions as
usual.
With another pending merger with First National Bank of Lake
Providence in northeast Louisiana, Hibernia would have
approximately $7.2 billion in assets and 165 banking locations
serving 25 parishes and 60 cities, representing more than 70% of
the state's population. It would be either first, second or third
in deposit market share in 19 of these parishes.
The company's common stock (HIB) is listed on the New York
Stock Exchange.
# # #
<PAGE>
HIBERNIA'S MERGERS
COMPLETED MERGERS: 11
NAME LOCATION ASSETS OFFICES
(in millions)
First Commercial Bank Acadiana $165 8
Bastrop National Bank Northeast $117 4
First National Bank of
West Monroe Northeast $157 6
Southern National Bank
at Tallulah Northeast $59 1
First National Bank of
Jefferson Parish Suburban New Orleans $372 9
Pioneer Bank and Trust
Co. Northwest $351 8
First State Bank and
Trust Company Northshore $146 7
New Orleans
American Bank River Parishes $89 5
State Bank and Trust
Company River Parishes $92 4
Progressive Bank and
Trust Houma region $142 6
Bank of St. John River Parishes $124 4
PENDING MERGERS: 2
NAME LOCATION ASSETS OFFICES
(in millions)
First National Bank
of Lake Providence Northeast $59 2
Bunkie Bank &
Trust Company Central $109 3
