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HWC to Expand in High-Growth Orlando Market, Acquire OFB Bancshares
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Key Takeaways
HWC to buy OFB Bancshares for $377.6M cash, adding six One Florida Bank financial centers.
Deal lifts Florida deposits to about 21% pro forma and targets HWC as Florida's No. 5 regional/community bank.
HWC sees high-single-digit GAAP accretion, $15.8M cost saves and 11.4% CET1 at close, targeted Q3 2026.
Hancock Whitney (HWC - Free Report) has agreed to acquire OFB Bancshares, Inc., the parent company of One Florida Bank, in an all-cash transaction valued at $377.6 million. The deal marks a strategic expansion for HWC into the Orlando market, one of the fastest-growing large metro areas in the United States.
One Florida Bank operates six financial centers, including five in the greater Orlando area and one in the Florida Panhandle. As of March 31, 2026, OFB Bancshares had $2.1 billion in total assets, $1.7 billion in loans and $1.9 billion in deposits.
The acquisition will deepen Hancock Whitney’s presence across Florida and enhance its competitive scale against regional and super-regional banks. One Florida Bank is the largest independent bank in Orlando.
On a pro forma basis, about 21% of the company’s deposits are expected to be based in Florida, up from 16% currently. HWC also expects to become the fifth-largest regional or community bank in Florida by market share.
The Orlando market offers strong demographic appeal, supported by population growth, in-migration and a diverse economy spanning tourism, healthcare, technology, logistics and professional services.
Synergies & Closing Timeline of HWC’s Deal
Hancock Whitney expects to leverage One Florida Bank’s local relationships alongside its broader banking platform, private banking offerings and fee-income capabilities, including those strengthened by its 2025 Sabal Trust Company acquisition. Revenue synergies are expected but have not been included in the transaction model.
The transaction is expected to close in the third quarter of 2026, subject to regulatory and shareholder approvals. Rick Pullum, president and CEO of One Florida Bank, is expected to lead the Orlando, Jacksonville and Panhandle markets after closing.
Financial Impact of the Deal on HWC
The acquisition is expected to be immediately accretive to Hancock Whitney’s GAAP earnings, excluding one-time costs. The company projects high-single-digit earnings accretion, about $15.8 million in cost savings, a CET1 ratio of 11.4% at close and a 2027 pro forma ROTCE of 16.3%.
The added loans, deposits, cost savings and Florida growth exposure are expected to drive Hancock Whitney’s earnings growth, profitability and long-term financial performance.
Shares of HWC have rallied 12.8% over the past six months, outpacing the industry’s 9.7% rise.
Earlier this month, Lazard Inc. (LAZ - Free Report) entered into a definitive agreement to acquire Campbell Lutyens, a leading global private markets advisor specializing in fund placement, secondary advisory and GP capital advisory services. The move builds on Lazard’s existing private capital advisory operations.
The acquisition will lead to the formation of a new business unit, Lazard CL, which will operate as Lazard’s third global business pillar, reinforcing its strategic expansion into private capital advisory. The platform will work closely with the company’s mergers and acquisitions (M&A), capital markets, restructuring and liability management and broader advisory divisions to deliver integrated solutions across private markets.
In April, KeyCorp (KEY - Free Report) announced a deal to buy Clearwater Corporate Finance LLP, a U.K.-based middle-market investment banking advisory firm. The financial terms of the deal, expected to close in the second half of the year, haven’t been disclosed yet.
The transaction marks KeyCorp’s entry into the Western European market, broadening its ability to deliver financial advisory services to institutional clients. It also builds on the 2020 collaboration agreement between KeyBanc Capital Markets Inc. and Clearwater, further strengthening the firms’ existing relationship.
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HWC to Expand in High-Growth Orlando Market, Acquire OFB Bancshares
Key Takeaways
Hancock Whitney (HWC - Free Report) has agreed to acquire OFB Bancshares, Inc., the parent company of One Florida Bank, in an all-cash transaction valued at $377.6 million. The deal marks a strategic expansion for HWC into the Orlando market, one of the fastest-growing large metro areas in the United States.
One Florida Bank operates six financial centers, including five in the greater Orlando area and one in the Florida Panhandle. As of March 31, 2026, OFB Bancshares had $2.1 billion in total assets, $1.7 billion in loans and $1.9 billion in deposits.
Deal Strengthens Hancock Whitney’s Florida Franchise
The acquisition will deepen Hancock Whitney’s presence across Florida and enhance its competitive scale against regional and super-regional banks. One Florida Bank is the largest independent bank in Orlando.
On a pro forma basis, about 21% of the company’s deposits are expected to be based in Florida, up from 16% currently. HWC also expects to become the fifth-largest regional or community bank in Florida by market share.
The Orlando market offers strong demographic appeal, supported by population growth, in-migration and a diverse economy spanning tourism, healthcare, technology, logistics and professional services.
Synergies & Closing Timeline of HWC’s Deal
Hancock Whitney expects to leverage One Florida Bank’s local relationships alongside its broader banking platform, private banking offerings and fee-income capabilities, including those strengthened by its 2025 Sabal Trust Company acquisition. Revenue synergies are expected but have not been included in the transaction model.
The transaction is expected to close in the third quarter of 2026, subject to regulatory and shareholder approvals. Rick Pullum, president and CEO of One Florida Bank, is expected to lead the Orlando, Jacksonville and Panhandle markets after closing.
Financial Impact of the Deal on HWC
The acquisition is expected to be immediately accretive to Hancock Whitney’s GAAP earnings, excluding one-time costs. The company projects high-single-digit earnings accretion, about $15.8 million in cost savings, a CET1 ratio of 11.4% at close and a 2027 pro forma ROTCE of 16.3%.
The added loans, deposits, cost savings and Florida growth exposure are expected to drive Hancock Whitney’s earnings growth, profitability and long-term financial performance.
Shares of HWC have rallied 12.8% over the past six months, outpacing the industry’s 9.7% rise.
Image Source: Zacks Investment Research
At present, Hancock Whitney carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Finance Firms That Took Similar Steps
Earlier this month, Lazard Inc. (LAZ - Free Report) entered into a definitive agreement to acquire Campbell Lutyens, a leading global private markets advisor specializing in fund placement, secondary advisory and GP capital advisory services. The move builds on Lazard’s existing private capital advisory operations.
The acquisition will lead to the formation of a new business unit, Lazard CL, which will operate as Lazard’s third global business pillar, reinforcing its strategic expansion into private capital advisory. The platform will work closely with the company’s mergers and acquisitions (M&A), capital markets, restructuring and liability management and broader advisory divisions to deliver integrated solutions across private markets.
In April, KeyCorp (KEY - Free Report) announced a deal to buy Clearwater Corporate Finance LLP, a U.K.-based middle-market investment banking advisory firm. The financial terms of the deal, expected to close in the second half of the year, haven’t been disclosed yet.
The transaction marks KeyCorp’s entry into the Western European market, broadening its ability to deliver financial advisory services to institutional clients. It also builds on the 2020 collaboration agreement between KeyBanc Capital Markets Inc. and Clearwater, further strengthening the firms’ existing relationship.