TDECU Announces Purchase of Seven Whitney Bank Branches Previously Slated
LAKE JACKSON, Texas -- July 22, 2013
TDECU-Your Credit Union announced today it has signed a purchase agreement to
acquire seven retail branch locations in the greater Houston (Texas) market
from Hancock Holding Company (NASDAQ: HBHC). Hancock Holding Company is the
parent company of Whitney Bank. As part of the branch acquisition, TDECU
expects to acquire approximately $34 million in consumer and real estate loans
and to assume approximately $30 million in deposits.
“TDECU is committed to serving our members where they live and work. This
transaction complements our current branches in the Houston area and further
strengthens the credit union for the future. We look forward to a smooth
transition for employees and account holders at each of these branches,” said
Stephanie Sherrodd, TDECU President and CEO.
The branch locations to be acquired by TDECU are:
*3800 SW Fwy. Ste. 100, Houston, Texas
*6348 Woodway, Houston, Texas
*5102 Richmond Ave., Houston, Texas
*24250 Cinco Ranch Blvd., Katy, Texas
*9915 Broadway, Pearland, Texas
*24706 SW Fwy., Rosenberg, Texas
*2109 State Hwy 6, Sugar Land, Texas
The branch sales, which are subject to regulatory approvals and certain
closing conditions, are expected to be complete by year-end 2013.
Locke Lord LLP acted as legal advisor to TDECU.
Founded in 1955, TDECU is a not-for-profit financial cooperative with over
176,000 members and more than $2 billion in assets. TDECU currently has 32
service locations, including 25 branches, and offers a complete selection of
convenient, innovative, and competitive products and services, including a
full suite of deposit products as well as mortgage, auto and personal loan
products, online and mobile banking. TDECU also offers, through its
subsidiaries, retirement planning and wealth management, personal and business
insurance products, and full title and realty services. Members can also
access a nationwide network of over 50,000 surcharge-free ATMs. For more
information visit TDECU.org or call 800.839.1154.
Marcie Casas, 210-236-5000
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