Hancock Whitney to Buy Sabal Trust Company 

Hancock Whitney has announced that its bank subsidiary, Hancock Whitney Bank, will acquire Sabal Trust Company, a non-depository trust company based in St. Petersburg, FL. The strategic acquisition aims to expand Hancock Whitney’s wealth and asset management presence in the high-growth Florida market, particularly in the Tampa and Orlando metropolitan areas. 

While financial terms weren’t disclosed, the acquisition is projected to be immediately accretive to GAAP EPS (excluding one-time costs) and meets the company’s minimum thresholds for Internal Rate of Return and Return on Invested Capital. 

Sabal Trust Company generated revenues of $22.1 million in 2024 and managed approximately $3 billion in assets as of December 31, 2024. The transaction is expected to close in the second quarter.   

“With the combination, we believe Hancock Whitney will have one of the most talented teams of advisors located across the Gulf South, and the opportunity to grow fee income and expand relationships with private banking, wholesale banking, and retail services offerings,” said John M. Hairston, President & CEO. 

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