Hibernia National Bank

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Hibernia National Bank, founded in 1870, was a personal banking and commercial lending institution headquartered in New Orleans, Louisiana. It was the largest and oldest bank headquartered in the state, and also had locations in Texas, Mississippi, and Arkansas.

Hibernia's service area is divided into twelve regions: Alexandria, Baton Rouge, Bayou, Beaumont, Dallas, Houston, Lake Charles/Lafayette, Marshall, Monroe, New Orleans, Shreveport, and Texarkana. With the exception of Bayou, which is not named after a city, and Lake Charles/Lafayette, which is named after two cities, each region's headquarters is located in the city from which it takes its name.

In March 2005, it was announced that Capital One would be acquiring Hibernia National Bank for $5.3 billion. The acquisition was set to close in September; however, just a few days before the deal was to be completed, Hurricane Katrina hit New Orleans — Hibernia's headquarters and biggest market. Capital One later agreed to acquire Hibernia at a lower price (approximately $5.0 billion). Hibernia National Bank became a wholly owned subsidiary of Capital One Financial Corporation in November 2005.

Capital One replaced the Hibernia name and brand with its own on April 24, 2006.

External link

http://www.hibernia.com

Commercial banks in the United States