GULFPORT, Miss., May 15 — Hancock Whitney Corporation (Nasdaq: HWC) (“Hancock Whitney”), parent company of Hancock Whitney Bank, and OFB Bancshares, Inc., parent company of One Florida Bank, announced today that they have entered into a definitive agreement whereby Hancock Whitney will acquire OFB Bancshares, Inc., in an all-cash transaction.
“This transaction represents a significant step in our long-term growth strategy, expanding our footprint into one of the most dynamic and high-growth markets in the country,” said John M. Hairston, President and CEO of Hancock Whitney. “Orlando offers attractive demographics, strong economic fundamentals, and meaningful opportunities to deepen client relationships. By combining our scale, capital strength, and product capabilities with the local expertise of this talented team, we believe we are well-positioned to deliver enhanced value to our clients, associates, and shareholders alike.”
One Florida Bank operates five financial centers in the greater Orlando, Florida, area and one in the Florida Panhandle. As of March 31, 2026, OFB Bancshares, Inc., on a consolidated basis, reported total assets of $2.1 billion, total loans of $1.7 billion, and total deposits of $1.9 billion. This acquisition will enhance Hancock Whitney Bank’s existing financial center footprint by establishing meaningful market presence in the Orlando area.
Rick Pullum, President and CEO of One Florida Bank, commented, “We are proud of the franchise we’ve built in the Orlando market, grounded in strong client relationships and community engagement. Partnering with Hancock Whitney allows us to accelerate that momentum while gaining access to broader resources, expanded capabilities, and a larger platform for growth.”
The transaction is expected to close in the third quarter of 2026 and is expected to be immediately accretive to GAAP EPS excluding one-time costs and meets or exceeds Hancock Whitney’s minimum thresholds for Internal Rate of Return and Return on Invested Capital.
The transaction is subject to the satisfaction of certain customary closing conditions including receipt of regulatory and OFB Bancshares, Inc., shareholder approval. Raymond James & Associates, Inc., is serving as financial advisor to Hancock Whitney and Wachtell, Lipton, Rosen & Katz is serving as legal advisor. Piper Sandler & Co. is serving as financial advisor to OFB Bancshares, Inc., and Smith Mackinnon, PA, is serving as legal advisor.
There is no conference call scheduled. A slide presentation related to the proposed transaction is included in Hancock Whitney’s 8-K filing and is also posted under the “Events & Presentations” section of the Investor Relations website at investors.hancockwhitney.com.