NEW ORLEANS, Oct. 21, 2009 (GLOBE NEWSWIRE) -- Whitney Holding Corporation (Nasdaq:WTNY) (the "Company") today announced it has priced a public offering of 25 million shares of its common stock at $8.00 per share. The underwriters will have a 30-day option to purchase up to an additional 3.75 million shares of the Company's common stock to cover overallotments, if any.

The offering will generate gross proceeds of $200 million, without giving effect to the potential exercise of the underwriters' option to purchase additional shares in the next 30 days. The closing date for the transaction is expected to be October 27, 2009.

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. served as joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Sandler O'Neill + Partners, L.P. served as co-managers.

Whitney Holding Corporation, 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.

The Whitney Holding Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5777

The Company is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933, as amended. The offering is being made solely by means of a prospectus supplement and accompanying prospectus. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. A copy of the prospectus supplement and accompanying prospectus relating to the offering can be obtained by contacting J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, (631) 254-1735 or by contacting SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road, NE, Atlanta, Georgia 30326, Attention: Prospectus Department, (404) 926-5463, prospectus@rhco.com.