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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 January 25, 1996
Date of Earliest Event Reported January 24, 1996
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The New Iberia Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Louisiana 0-13307 72-0969631
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
800 South Lewis Street, New Iberia, Louisiana 70560
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(Address of principal executive offices) (Zip Code)
(318) 365-6761
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(Registrant's telephone number, including area code)
None
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
The New Iberia Bancorp, Inc. (the "Company") will negotiate with
Whitney Holding Corporation ("Whitney") a definitive agreement for the
acquisition of the Company by Whitney for consideration consisting of $54
million in the aggregate, payable in Whitney common stock to the shareholders
of the Company. A definitive agreement will have to be approved by the boards
of both institutions as a condition to completing the transaction and the
closing would also be subject to regulatory approval, approval by the
shareholders of the Company and other conditions.
Item 7. Exhibits
1. Press release dated January 24, 1996.
SIGNATURES
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.
THE NEW IBERIA BANCORP, INC.
(Registrant)
Date: January 25, 1996 By: /s/ LEONARD J. FREYOU
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Name: Leonard J. Freyou
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Title: Senior Vice President/
Cashier
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JANUARY 24, 1996
FOR IMMEDIATE RELEASE
THE NEW IBERIA BANCORP, INC.
FOR INFORMATION CONTACT:
ERNEST FREYOU
318-365-6761
Ernest Freyou, the President of The New Iberia Bancorp, Inc. and William L.
Marks, the Chairman of Whitney Holding Corporation, announced today that the
institutions will negotiate a definitive agreement for the acquisition of The
New Iberia Bancorp by Whitney Holding Corporation for consideration consisting
of $54 Million in the aggregate, payable in Whitney Holding Corporation common
stock to the shareholders of The New Iberia Bancorp at the approximate rate of
$27 in value of Whitney stock for each share of The New Iberia Bancorp stock
outstanding. Mr. Freyou stated that the Board of Directors of The New Iberia
Bancorp authorized negotiation of a definitive agreement with Whitney, which
must be approved by the boards of both institutions as a condition to the
consummation of the transaction. Closing would also be subject to customary
conditions, including regulatory approval and approval by the shareholders of
The New Iberia Bancorp. The merger is intended to be accounted for as a
pooling-of-interests.
The New Iberia Bancorp, Inc. is located in Iberia Parish, Louisiana, where it
operates its wholly-owned subsidiary, The New Iberia Bank. The company's stock
is traded on the American Stock Exchange (symbol NIB). The New Iberia Bank
presently operates eight full service offices in Iberia Parish, three full
service offices in Lafayette Parish, and one full service office in Vermilion
Parish, Louisiana.
Whitney Holding Corporation (NASDAQ symbol WTNY) is a bank holding company
based in New Orleans, Louisiana. Its primary bank subsidiary is Whitney
National Bank, which has 45 branches throughout southern Louisiana including
New Orleans, Jefferson and St. Tammany parishes as well as Baton Rouge and
Lafayette. The Whitney Bank of Alabama has seven branches in Mobile and the
Alabama Gulf region.
