Hancock Whitney to acquire Sabal Trust, sees accretion

Hancock Whitney (HWC) announced that Hancock Whitney Bank, its wholly owned bank subsidiary, entered into an agreement to acquire the non-depository trust company, Sabal Trust, based in St. Petersburg, Florida. Financial terms of the transaction were not disclosed. The transaction is expected to be immediately accretive to GAAP EPS excluding one-time costs and meets or exceeds the company’s minimum thresholds for internal rate of return and return on invested capital. The business being acquired has four locations within the greater Tampa, Florida and Orlando, Florida metropolitan statistical areas. Sabal earned revenues of $22.1M in the year ended December 31, 2024, and had assets under management of approximately $3B at December 31, 2024. The transaction is expected to close during the second quarter of 2025, subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions.