Calcasieu Marine merger with Hibernia becomes effective; A.T.M. network available immediately.NEW ORLEANS--(BUSINESS WIRE)--Aug. 26, 1996--Hibernia National Bank made its statewide automated teller machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATM) network available to southwest Louisiana today as its merger with CM Bank Holding Company, parent of Calcasieu Marine National Bank, became effective. Louisiana's largest statewide bank also wasted no time giving a preview of two of its most popular loan products which will be available in the region starting Sept. 3: TABBSLine, a line of credit for small businesses that is as easy as writing a check and offers flexible repayment terms; and the Louisiana PurchaseLine, a line of credit that gives consumers pre-approved purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. wherever they go. Hibernia's full range of products and services will be available to former Calcasieu Marine customers later this year when computer systems change over to Hibernia. Signs also will be changed at that time. "Hibernia brings financial resources, innovation and the convenience of statewide banking that have never before been available to Lake Charles and surrounding communities," said A. Hartie Spence, Hibernia's Lake Charles area president and formerly president of Calcasieu Marine. "The reaction to the merger from businesses and individuals has been encouraging. This is an exciting day for southwest Louisiana, and all of us are pleased the partnership is now official." "Local people continue to offer customers the kind of hometown service that earned Calcasieu Marine such strong customer loyalty," said Stephen A. Hansel han·sel n. & v. Variant of handsel. , Hibernia president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "They're also busy serving the communities where they live and work, but as Hibernia employees now." The transaction had already been approved by regulators and CM Bank Holding Company shareholders. Under the terms of the agreement, Hibernia purchased all of the outstanding stock of CM Bank Holding Company for approximately $201.7 million. With additional pending mergers with $406-million-asset Texarkana National Bank in east Texas and $254-million-asset St. Bernard St. Bernard a very large (110-200 lb) dog with massive, broad head, medium-sized ears lying close to the head, and a long tail. There are two varieties, the most familiar (rough) has a long, thick coat, while the smooth variety has a shorter coat, lying close to the body. Bank and Trust in suburban New Orleans, Hibernia's assets will total approximately $8.9 billion. Hibernia would have 199 banking locations in 29 Louisiana parishes and one Texas county. It would be either first, second or third in deposit market share in 24 of these parishes and first in the one Texas county. Hibernia's Louisiana markets represent approximately 88% of the state's population and deposits. Its statewide Louisiana market share would be more than 17%. The company's common stock (HIB Hib abbr. Haemophilus influenzae type b ) is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . CONTACT: Hibernia Corporation, New Orleans Media Inquiries: Jim Lestelle, office: 504/533-5482; home: 504/488-8826 or Investor Inquiries: Dana Combes Combes may refer to:
home: 504/895-8480 |
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