October 22, 2009 (FinancialWire) — Whitney Holding Corp. (NASDAQ: WTNY) announced an underwritten public offering of $200 million of its common stock.

The company intends to grant the underwriters a 30-day option to purchase an additional fifteen percent of the shares to cover over-allotments, if any. The company expects to use the proceeds from the offering for working capital and general corporate purposes, which may include capital to support organic growth, to better position the company for the eventual redemption of the company’s preferred stock and warrant issued to the U.S. Department of Treasury pursuant to the Capital Purchase Program, and to facilitate future acquisition opportunities.

J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey, Inc. will serve as joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Sandler O’Neill + Partners, L.P. will serve as co-managers.

Whitney Holding Corp., through its banking subsidiary Whitney National Bank, serves the five-state Gulf Coast region stretching from Houston, Texas; across southern Louisiana and the coastal region of Mississippi; to central and south Alabama; the panhandle of Florida; and the Tampa Bay metropolitan area of Florida.

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