Hancock Whitney 2

Hancock Whitney Corp. said its third quarter earnings were down when compared to the year before due to costs related to its merger with MidSouth Bancorp.

Gulfport, Mississippi-based Hancock Whitney, which has a major presence in New Orleans, said its net income for the third quarter was $67.8 million or 77 cents per diluted share. That compares to third quarter 2018 earnings of $83.9 million or 96 cents per share. The bank said the quarter results included costs related to the acquisition of MidSouth that totaled $28.8 million or 26 cents per share.

Two of the former MidSouth Bank buildings in the Lafayette area have been sold to other banks in the region.

Cottonport Bank in Avoyelles Parish has bought the office in west Lafayette, and Opelousas-based St. Landry Homestead Federal Savings Bank bought the office in Carencro, according to documents filed in the Lafayette Parish Clerk of Court’s Office.

Officials with Hancock Whitney, which purchased MidSouth for $214 million in a deal that closed in September, sold the building at 2218 Ambassador Caffery Parkway for $862,452 and the old Carencro branch, 800 Veterans Drive, for $900,000, documents show.

The buildings were two of five Hancock Whitney acquired when it bought MidSouth Bank. The buildings have sat vacant since they closed earlier this year.

Cottonport Bank, which has offices in Avoyelles, East Baton Rouge and West Baton Rouge parishes, earlier got approval to open a branch office at 1921 Kaliste Saloom Road, Suite 203B. The bank 13 offices in four parishes and $343 million in total assets, $315,158 in total deposits and 134 employees.

Established in 1922, St. Landry Homestead has three locations in St. Landry parishes with $219,997 in assets, $142,972 in total deposits and 49 employees.

Hancock Whitney also sold the two MidSouth Bank offices in Baton Rouge last week. It sold the office at 6677 Siegen Lane to BancorpSouth for $2.255 million and the office at 5379 Highland Road to Houma-based South Louisiana Bank for $500,000.

Other properties as a result of the merger that records show have not been sold include offices at 2805 Moss St. and 3600 Johnston St. 

Acadiana Business Today: FMOLHS plans to invest in Mississippi hospital, Lafayette, Baton Rouge; Two former MidSouth Bank locations sold to Cottonport Bank, St. Landry Homestead Bank

Email Adam Daigle at adaigle@theadvocate.com.