Hancock Whitney is buying Capital One National Association's trust and asset management business.

The price was not disclosed.

The segment serves wealthy individuals and institutional investors, and a "significant portion" of the business lies in Louisiana and east Texas, according to Hancock Whitney. The deal will secure one of the highest market shares of investment management and trust along the Interstate 10 corridor from Houston to Gulfport, Mississippi, the site of Hancock Whitney's headquarters.

Hancock Whitney also will maintain a presence in the New York metro area for existing and new clients.

The deal will make Hancock Whitney one of the Top 50 trust firms in the United States based on revenue. Hancock Whitney will have combined annual revenue of approximately $70 million to $75 million, administering around $26 billion in assets and managing roughly $10 billion in assets. Asset administration typically include services such as accounting and tax reporting and, unlike asset management, does not involve making investment decisions for clients.

Hancock Whitney had approximately $16 billion in assets under administration and $6 billion in assets under management at Sept. 30 and reported trust fees of $33.5 million for the first nine months of 2017.