Blogging is a new "feature" of the internet. It allows an easier way to update web pages and gives a "log" type setup with some automatic features. This is the second Blog I've created, the first can be seen here.

 

New Orleans Loses Again

Ok, maybe I'm being paranoid, but New Orleans, and Louisiana, has lost another home grown company. This time it is Hibernia National Bank which just announced it is being purchased by Capital One Bank, the credit card company.

In a deal that gives Hibernia Bank stockholders a 24% premium over the closing price from March 4, Capital One becomes the largest lender in Louisiana and gives the company 314 branches spread between Texas and Louisiana. Capital One currently has no branches anywhere within the US doing all of it's marketing and business via TV ad's, mass mailings, and the Internet.

With two accounts at Hibernia I'm going to be watching closely to see what changes Capital One makes to the terms of my accounts. I recently switched my accounts to Hibernia since I wanted a local bank and my former bank, Regions Bank just wasn't giving me the incentives to stay with them.

This link will give you a Google search of the latest news stories regarding the merger.

Be good to yourself,
Westley Annis
westley@da-parish.com
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posted by Westley at 3/07/2005 12:45:00 AM