September 22, 1997
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, one
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
Corporate Counsel and
Secretary
PCM/gbp
Enclosure
cc: Joseph Lomnicky
Ron E. Samford, Jr.
Stephen D. M. Schuetz
g:\docshare\8-k\1997\sept22.doc
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, 1997
__________________
September 17, 1997
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) 533-2486
Page 1
Item 5. Other Events.
On September 17, 1997, the Registrant announced certain changes to its
organization structure, including the resignation of an executive officer
of the Registrant.
EXHIBIT INDEX
Exhibit Page
Number Description Number
28.35 News Release issued by the Registrant
on September 17, 1997 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: September 22, 1997 By: /s/ Patricia C. Meringer
Corporate Counsel and
Secretary
Page 2
EXHIBIT 28.35
NEWS RELEASE HIBERNIA
For immediate release September 17, 1997
MEDIA INQUIRIES:
Jim Lestelle -- Manager,
Corporate Communications
Office: (504) 533-5482;
Home: (504) 488-8826
INVESTOR INQUIRIES:
Trisha Voltz -- Manager,
Investor Relations
Office: (504) 533-2180
Home: (504) 837-8287
ORGANIZATIONAL CHANGES ANNOUNCED BY HIBERNIA
NEW ORLEANS -- Hibernia Corporation today announced organizational
changes that will put all southeast Louisiana banking -- both commercial
and retail -- under one executive, strengthen the integration of retail
marketing and support technology, and integrate credit policy with many
loan-servicing functions.
Stephen A. Hansel, Hibernia's president and CEO, described these
changes, most of which are effective immediately:
Hibernia's 10-parish Southeast Region, including greater New Orleans,
will be led by Randall E. Howard, currently president and CEO of
ArgentBank, as soon as a pending merger with ArgentBank is complete,
probably at year-end. Both retail and commercial banking for the New
Orleans area will report to Howard, who will be Southeast Region
chairman. An expanded Hibernia role for Howard was anticipated
earlier this summer when the merger agreement with ArgentBank was
announced.
Various retail business lines and support units will be coordinated by
K. Kirk Domingos III, senior executive vice president for operational
support functions. Domingos, whose title remains unchanged, will lead
Hibernia's new Retail Arena and Technology area.
Hibernia's current retail arena and Greater New Orleans executive,
Richard L. "Ike" Stage, has resigned to pursue other interests.
Virtually all loan portfolio servicing functions will be integrated
under Hibernia's chief credit officer, Richard G. Wright, who is a
senior executive vice president. Wright will assume responsibility
for business banking loan servicing, other loan servicing and special
assets.
Page 3
"This re-alignment is a partial outgrowth of our business process re-
design effort, Vision 2000, and will bring better integration of various
geographic, business-line and support roles. I believe it will take our
developmental efforts to a new level," Hansel explained.
Howard, 49, built a $760-million-asset, consumer-focused bank with 22
offices in the mid-southern Louisiana area. "Randy has led a significant
public company in Louisiana and has demonstrated he knows how to do a great
job for customers, employees and shareholders," Hansel said. "His general
banking skills will make a significant contribution to Hibernia as we work
to fully develop our potential as a truly high-performance financial
services company."
Domingos, 55, a 30-year banker with retail, commercial, operational,
technological, human resources and marketing experience, will assume new
responsibility for consumer lending, mortgage banking, alternative
delivery, trust and personal asset management, and community development.
He also will be responsible for retail product development, integrating it
with back-room support.
"Kirk shares my vision of delivering true value-added service and
products conveniently and at a reasonable cost to the average retail
customer and to small businesses," Hansel said. "He has a passion to make
our retail effort work, and he has had a record of success integrating our
huge operational area. This new role will bring his excellent
organizational skills to bear on the refinement of products and delivery
channels."
State, 52, who came to Hibernia 18 months ago after a 34-year career
at Huntington Bank in Ohio, said he appreciated the opportunity to help
develop new retail initiatives but will seek different opportunities. "Ike
has a great customer focus -- a real passion for service -- that made a big
difference in a short time," Hansel said. "We wish him well in his new
endeavors."
Wright, 47, has been with Hibernia since 1992, serving as a senior
manager in credit and asset quality areas and assuming his current role in
1996. Most of his career has been in banking, except for a period in the
1980s when he was president of a Texas-based, western sports-equipment
manufacturing company. His expanded role will include small-business loan
servicing, other loan servicing, including lending law, and special assets.
"In addition to his credit policy responsibility, Rich has been responsible
during the past 18 months for overseeing Vision 2000. He has demonstrated
a capacity for this new role," Hansel said.
Page 4
Hibernia will be a $10.8-billion-asset organization following
completion of pending mergers with ArgentBank, Unicorp Bancshares-Texas
Inc. and Northwest Bancshares of Louisiana Inc. It would have 228 banking
locations in 31 Louisiana parishes and five Texas counties. Hibernia would
be either first, second or third in deposit market share in 27 Louisiana
parishes and three Texas counties. Hibernia's Louisiana markets represent
approximately 80% of the state's population and deposits. Its statewide
Louisiana deposit market share would be 20%, and its loan share would be
21%.
The company's common stock (HIB) is listed on the New York Stock
Exchange. Hibernia news releases and product-and-service information are
available through the company's internet site at
http://www.hiberniabank.com.
Page 5
