Current Report

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 19, 2009

WHITNEY HOLDING CORPORATION

(Exact Name of Registrant as Specified in Charter)


Louisiana	0-1026	72-6017893

(State or Other	(Commission	(IRS Employer
Jurisdiction of	File Number)	Identification No.)
Incorporation)

228 St. Charles Avenue, New Orleans, Louisiana 70130

(Addresses of Principal Executive Offices, including Zip Code)

( 504) 586-7272

(Registrant’s Telephone Number, including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On October 19, 2009, Whitney Holding Corporation (the “Company”) issued a press release announcing the Company’s financial results for the three and nine months ended September 30, 2009 (the “Press Release”). The Press Release is attached to this Current Report as Exhibit 99.1 .

The information contained in this Item 2.02 is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in Exhibit 99.1 furnished pursuant to this Item 2.02 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

Item 8.01 Other Events

On October 19, 2009, the Company made available the supplemental information (the “Supplemental Information”) prepared for use with the Press Release. In connection with the Press Release, the Company will hold an investor call at 4:30 p.m., CT, on October 19, 2009.

Pursuant to General Instruction F to Current Report on Form 8-K, the Supplemental Information is attached to this Current Report as Exhibit 99.2 and is incorporated into this Item 8.01 by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits


Exhibit No.		Description

99.1		Whitney Holding Corporation Press Release, dated October 19, 2009.

99.2		Supplemental Information prepared for use with the Press Release.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	WHITNEY HOLDING CORPORATION
	By:	/s/ Thomas L. Callicutt, Jr.
		Thomas L. Callicutt, Jr.
		Senior Executive Vice President and Chief Financial Officer

Date: October 19, 2009

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Exhibit 99.1

WHITNEY HOLDING CORPORATION
228 ST. CHARLES AVENUE
NEW ORLEANS, LA 70130
www.whitneybank.com

NEWS RELEASE


CONTACT:	Trisha Voltz Carlson	FOR IMMEDIATE RELEASE
	504/299-5208	October 19, 2009
	tcarlson@whitneybank.com

WHITNEY REPORTS 2009 THIRD QUARTER RESULTS

New Orleans, Louisiana. Whitney Holding Corporation (NASDAQ—WTNY) (the “Company”) recorded a net loss of $30.0 million for the third quarter of 2009 compared to a net loss of $21.3 million for the second quarter of 2009. Including dividends on preferred stock, the loss to common shareholders was $34.1 million, or $.50 per diluted common share, for the third quarter of 2009 compared to $25.4 million, or $.38 per diluted share, for the second quarter of 2009. The Company earned $7.0 million, or $.11 per diluted common share, for the third quarter of 2008.

“Whitney is a strong franchise that continues to report a stable core deposit base and a top ranked net interest margin,” said John C. Hope, III, Chairman and CEO. “Our loan portfolio outside of Florida is performing in line with our expectations despite increasing levels of stress from the overall economic environment and we are managing all problem areas aggressively. While addressing credit issues is currently our top priority, we remain committed to our Strategic Plan with the goal of creating long-term value for our shareholders.”

The impact of the acquisition of Parish National Corporation (Parish) is reflected in the Company’s financial information from the November 7, 2008 acquisition date.

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KEY COMPONENTS OF THIRD QUARTER FINANCIAL RESULTS

Loans and Earning Assets

Total loans at the end of the third quarter of 2009 were down $315 million from June 30, 2009, with reductions in most sectors of the loan portfolio and across our regional markets. Commercial and industrial (C&I) loans, including commercial real estate (CRE) loans secured by properties used in the borrower’s business, were down $215 million, construction land and land development loans were down $76 million and other CRE loans were down $15 million. Included in the quarter’s decline were charge-offs of $63.5 million, foreclosures of approximately $16 million and larger problem loan resolutions of $16 million.

Average loans for the third quarter of 2009 were down $284 million, or 3%, compared to the second quarter of 2009. Earning assets were also down approximately 3% on average compared to the second quarter.

Our largest industry exposure is to the oil & gas sector and loans outstanding to those customers represent $962 million, or approximately 11% of loans at September 30, 2009. The shared national credits portfolio totaled $681 million at September 30, 2009, down $102 million from June 30, 2009. Approximately $282 million of the total shared national credit portfolio is related to the oil & gas sector.

Deposits and Funding

Average deposits in the third quarter of 2009 were down 1.5%, or $137 million, compared to the second quarter of 2009. Period-end deposits were down approximately $264 million or 3% compared to June 30, 2009, reflecting mainly declines in competitively bid public fund deposits and deposits held in treasury-management sweep products used by corporate customers.

Noninterest-bearing demand deposits were stable to slightly higher in the third quarter of 2009 and comprised 34% of total average deposits and funded approximately 29% of average earning assets for the period. The percentage of funding from all noninterest-bearing sources totaled 34%. Higher-cost interest-bearing funds, which include time deposits and borrowings, funded 31% of average earning assets in the third quarter of 2009, compared to 33% in the second quarter of 2009.

Net Interest Income

Net interest income (TE) for the third quarter of 2009 decreased less than 1%, or $.8 million, compared to the second quarter of 2009. Although average earning assets were down 3% between

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these periods, the net interest margin (TE) improved 6 basis points to 4.11% from 4.05%. The margin expansion reflected both a small increase in earning asset yields and a further reduction in the cost of funds. Asset yields benefited from an improved asset mix, while the reduction in cost of funds was driven mainly by the maturity or renewal of higher-cost certificates of deposit in the current low interest rate environment. Certificates of deposit from a special campaign a year earlier matured or renewed in September 2009. The start of scheduled rate reductions on deposits from a special money market campaign offered during the second quarter of 2009 also benefited the cost of funds in the third quarter of 2009.

The lost interest on nonaccruing loans reduced the net interest margin by approximately 20 basis points in both the third and second quarters of 2009. The rates on approximately 28% and 27% of the loan portfolio at September 30, 2009 vary based on LIBOR and prime rate benchmarks, respectively. The Bank has increased the use of rate floors on its loan products and approximately 58% of our LIBOR/prime-based loans currently have rate floors.

Provision for Credit Losses and Credit Quality

Whitney provided $80.5 million for credit losses in the third quarter of 2009, compared to $74.0 million in the second quarter of 2009. Provisions related to impaired loans accounted for more than half of the quarter’s total provision for credit losses. Over $30 million of the impaired loan provisions came from the Tampa, Florida market reflecting in part the continued declines in appraised real estate values. The remainder of the quarter’s provision for credit losses was related to a net increase in total criticized loans for the third quarter of 2009 of $131 million, smaller consumer charge-offs and qualitative adjustments. Approximately $100 million of the increase in criticized loans came from oil & gas industry credits and commercial construction, land and land development loans serviced from our Texas market.

Net loan charge-offs in the third quarter of 2009 were $61.9 million, or 2.86%, of average loans on an annualized basis, compared to $46.7 million or 2.09% of average loans in the second quarter of 2009. The majority of total gross charge-offs, approximately 76%, came from credits in the Florida market and was heavily concentrated in residential-related real estate loans.

The provision for loan losses exceeded net charge-offs by $19.1 million during the third quarter which further strengthened the allowance for loan losses to 2.81% of total loans at September 30, 2009, up from 2.50% at June 30, 2009 and 1.55% at September 30, 2008.

Nonperforming loans totaled $406 million at September 30, 2009, a decrease of $7.3 million from June 30, 2009. At September 30, 2009 loans past due 90 days or more and still accruing

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totaled $15 million, down from $20 million at June 30, 2009. Loans past due 30-89 days totaled approximately $87 million, reflecting a $10 million increase from June 30, 2009.

Noninterest Income

Noninterest income for the third quarter of 2009 decreased 10%, or $3.2 million, from the second quarter of 2009. Fee income from Whitney’s secondary mortgage market operations declined 27%, or $.8 million, on a slowdown in refinancing activity. The other noninterest income category declined a total of $2.9 million from the second quarter of 2009 which included a $1.8 million distribution from an investment in a local small business investment company and an additional $.5 million of revenue from the Company’s grandfathered foreclosed assets. Part of the decline in other noninterest income for the third quarter of 2009 was offset by the increase in bankcard fees that reflected a change in the reporting of certain transactions by a new processor.

Noninterest Expense

Total noninterest expense for the third quarter of 2009 decreased $8.2 million, or 7%, from the second quarter of 2009. The second quarter of 2009 included a $5.5 million special deposit insurance assessment that was imposed industry-wide by the FDIC. The provision for valuation allowances on foreclosed property decreased $3.0 million in the third quarter of 2009. Loan collection costs and foreclosed asset management expenses were stable during the third quarter, although they remain at elevated levels.

Total personnel expense for the third quarter of 2009 decreased $.8 million, or 1.5%, from the second quarter of 2009. There was a $.5 million decrease in share-based compensation that reflected the lower cost of the 2009 award relative to the cost of prior awards that vested in the second quarter of 2009. Sales-based incentive plan compensation was also lower in the third quarter. No management cash bonus has been accrued year-to-date in 2009.

Capital

Regulatory capital ratios remain above those required for the Company and Whitney National Bank to be considered well-capitalized institutions. The Company’s tangible common equity ratio was 6.42% at the end of the third quarter of 2009, unchanged from June 30, 2009. The Company’s regulatory leverage, tier 1 and total capital ratios at September 30, 2009 were 8.99%, 10.55% and 13.37% respectively.

“Based on what we know today, management believes that the current capital levels of the Company and the Bank are adequate to absorb further credit losses during this difficult economic cycle,” said John Hope.

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Conference Call and Additional Financial Information

Management will host a conference call today at 4:30 p.m. CT to review third quarter 2009 results. Analysts and investors may dial in and participate in the question/answer session. A live listen-only webcast of the call will be available under the “Investor Relations” section of our website at http://www.whitneybank.com . To participate in the Q&A portion of the call, dial (877) 627-6544 or (719) 325-4819. An audio archive of the conference call will be available under the Investor Relations section of our website. A replay of the call will also be available through October 26, 2009 by dialing (888) 203-1112 or (719) 457-0820, passcode 6114697.

This earnings release, including additional financial tables and a slide presentation related to third quarter 2009 results, is posted in the Investor Relations section of the Company’s web site at http://investor.whitneybank.com/releases.cfm?ReleasesType=Earnings&Year=2009 .

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.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and we intend such forward-looking statements to be covered by the safe harbor provisions therein and are including this statement for purposes of invoking these safe-harbor provisions. Forward-looking statements provide projections of results of operations or of financial condition or state other forward-looking information, such as expectations about future conditions and descriptions of plans and strategies for the future . The forward-looking statements made in this release include, but may not be limited to, expectations regarding future loan demand, capital strength and credit quality trends in the overall loan portfolio, stress test results, and specific industry or geographic segments within the portfolio.

Whitney’s ability to accurately project results or predict the effects of future plans or strategies is inherently limited. Although Whitney believes that the expectations reflected in its forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from those expressed in Whitney’s forward-looking statements include, but are not limited to, those risk factors outlined in Whitney’s public filings with the Securities and Exchange Commission, which are available at the SEC’s internet site (http://www.sec.gov).

You are cautioned not to place undue reliance on these forward-looking statements. Whitney does not intend, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of differences in actual results, changes in assumptions or changes in other factors affecting such statements, except as required by law.

(WTNY-E)

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS


	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
(dollars in thousands, except per share data)	2009			2009			2008			2009			2008

INCOME DATA
Net interest income	$	109,854		$	110,572		$	111,435		$	332,041		$	336,105
Net interest income (tax-equivalent)		110,975			111,820			112,600			335,719			339,760
Provision for credit losses		80,500			74,000			40,000			219,500			89,000
Noninterest income		29,227			32,431			25,472			90,924			80,122
Net securities gains in noninterest income		195			—			67			195			67
Noninterest expense		103,596			111,807			89,549			312,251			259,068
Net income (loss)		(30,024	)		(21,301	)		7,048			(62,464	)		49,777
Net income (loss) to common shareholders		(34,091	)		(25,368	)		7,048			(74,623	)		49,777

QUARTER-END BALANCE SHEET DATA
Loans	$	8,476,989		$	8,791,840		$	8,077,775		$	8,476,989		$	8,077,775
Investment securities		2,005,881			1,942,365			1,812,025			2,005,881			1,812,025
Earning assets		10,561,425			10,861,061			9,943,868			10,561,425			9,943,868
Total assets		11,656,468			11,975,082			10,987,447			11,656,468			10,987,447
Noninterest-bearing deposits		3,130,426			3,081,617			2,809,923			3,130,426			2,809,923
Total deposits		8,880,377			9,144,041			8,054,431			8,880,377			8,054,431
Shareholders’ equity		1,465,431			1,487,994			1,183,001			1,465,431			1,183,001

AVERAGE BALANCE SHEET DATA
Loans	$	8,661,806		$	8,945,911		$	8,007,507		$	8,890,667		$	7,853,872
Investment securities		1,966,020			1,906,932			1,853,581			1,919,666			1,997,942
Earning assets		10,723,215			11,062,643			9,892,165			10,945,607			9,922,077
Total assets		11,796,108			12,140,311			10,902,329			12,030,560			10,846,118
Noninterest-bearing deposits		3,083,404			3,082,248			2,771,101			3,105,176			2,722,253
Total deposits		9,076,350			9,212,882			8,230,249			9,135,921			8,275,705
Shareholders’ equity		1,485,525			1,520,609			1,192,535			1,512,967			1,211,902

COMMON SHARE DATA
Earnings (loss) per share
Basic	$	(.50	)	$	(.38	)	$	.11		$	(1.10	)	$	.77
Diluted		(.50	)		(.38	)		.11			(1.10	)		.76
Cash dividends per share	$	.01		$	.01		$	.31		$	.03		$	.93
Book value per share, end of period	$	17.30		$	17.63		$	18.49		$	17.30		$	18.49
Tangible book value per share, end of period	$	10.63		$	10.93		$	13.13		$	10.63		$	13.13
Trading data
High sales price	$	11.27		$	15.33		$	33.02		$	16.16		$	33.02
Low sales price		7.94			8.33			13.96			7.94			13.96
End-of-period closing price		9.54			9.16			24.25			9.54			24.25
Trading volume		49,059,850			62,308,611			72,540,716			160,264,736			171,546,268

RATIOS
Return on average assets		(1.01	)%		(.70	)%		.26	%		(.69	)%		.61	%
Return on average common equity		(11.36	)		(8.30	)		2.35			(8.19	)		5.49
Net interest margin (TE)		4.11			4.05			4.53			4.10			4.57
Average loans to average deposits		95.43			97.10			97.29			97.32			94.90
Efficiency ratio		73.99			77.51			64.89			73.22			61.71
Annualized expenses to average assets		3.51			3.68			3.29			3.46			3.18
Allowance for loan losses to loans, end of period		2.81			2.50			1.55			2.81			1.55
Annualized net charge-offs to average loans		2.86			2.09			1.22			2.11			.87
Nonperforming assets to loans plus foreclosed assets and surplus property, end of period		5.34			5.17			3.15			5.34			3.15
Average shareholders’ equity to average total assets		12.59			12.53			10.94			12.58			11.17
Tangible common equity to tangible assets, end of period		6.42			6.42			7.89			6.42			7.89
Leverage ratio, end of period		8.99			9.21			8.17			8.99			8.17

Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.

The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income (excluding securities gains and losses).

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
QUARTERLY TRENDS


	Third			Second			First			Fourth			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
(dollars in thousands, except per share data)	2009			2009			2009			2008			2008

INCOME DATA
Net interest income	$	109,854		$	110,572		$	111,615		$	119,540		$	111,435
Net interest income (tax-equivalent)		110,975			111,820			112,924			120,902			112,600
Provision for credit losses		80,500			74,000			65,000			45,000			40,000
Noninterest income		29,227			32,431			29,266			27,050			25,472
Net securities gains in noninterest income		195			—			—			—			67
Noninterest expense		103,596			111,807			96,848			92,026			89,549
Net income (loss)		(30,024	)		(21,301	)		(11,139	)		8,808			7,048
Net income (loss) to common shareholders		(34,091	)		(25,368	)		(15,164	)		8,220			7,048

QUARTER-END BALANCE SHEET DATA
Loans	$	8,476,989		$	8,791,840		$	8,953,307		$	9,081,850		$	8,077,775
Investment securities		2,005,881			1,942,365			1,889,161			1,939,355			1,812,025
Earning assets		10,561,425			10,861,061			10,908,643			11,209,246			9,943,868
Total assets		11,656,468			11,975,082			12,020,481			12,380,501			10,987,447
Noninterest-bearing deposits		3,130,426			3,081,617			3,176,783			3,233,550			2,809,923
Total deposits		8,880,377			9,144,041			9,212,361			9,261,594			8,054,431
Shareholders’ equity		1,465,431			1,487,994			1,522,085			1,525,478			1,183,001

AVERAGE BALANCE SHEET DATA
Loans	$	8,661,806		$	8,945,911		$	9,068,755		$	8,700,317		$	8,007,507
Investment securities		1,966,020			1,906,932			1,885,158			1,876,338			1,853,581
Earning assets		10,723,215			11,062,643			11,054,605			10,719,892			9,892,165
Total assets		11,796,108			12,140,311			12,159,252			11,777,922			10,902,329
Noninterest-bearing deposits		3,083,404			3,082,248			3,150,615			2,975,869			2,771,101
Total deposits		9,076,350			9,212,882			9,119,000			8,646,612			8,230,249
Shareholders’ equity		1,485,525			1,520,609			1,533,293			1,264,714			1,192,535

COMMON SHARE DATA
Earnings (loss) per share
Basic	$	(.50	)	$	(.38	)	$	(.22	)	$	.12		$	.11
Diluted		(.50	)		(.38	)		(.22	)		.12			.11
Cash dividends per share	$	.01		$	.01		$	.01		$	.20		$	.31
Book value per share, end of period	$	17.30		$	17.63		$	18.22		$	18.29		$	18.49
Tangible book value per share, end of period	$	10.63		$	10.93		$	11.46		$	11.48		$	13.13
Trading data
High sales price	$	11.27		$	15.33		$	16.16		$	26.37		$	33.02
Low sales price		7.94			8.33			8.17			14.14			13.96
End-of-period closing price		9.54			9.16			11.45			15.99			24.25
Trading volume		49,059,850			62,308,611			48,896,275			42,771,277			72,540,716

RATIOS
Return on average assets		(1.01	)%		(.70	)%		(.37	)%		.30	%		.26	%
Return on average common equity		(11.36	)		(8.30	)		(4.96	)		2.67			2.35
Net interest margin (TE)		4.11			4.05			4.13			4.49			4.53
Average loans to average deposits		95.43			97.10			99.45			100.62			97.29
Efficiency ratio		73.99			77.51			68.11			62.20			64.89
Annualized expenses to average assets		3.51			3.68			3.19			3.13			3.29
Allowance for loan losses to loans, end of period		2.81			2.50			2.17			1.77			1.55
Annualized net charge-offs to average loans		2.86			2.09			1.41			.91			1.22
Nonperforming assets to loans plus foreclosed assets and surplus property, end of period		5.34			5.17			4.50			3.61			3.15
Average shareholders’ equity to average total assets		12.59			12.53			12.61			10.74			10.94
Tangible common equity to tangible assets, end of period		6.42			6.42			6.68			6.49			7.89
Leverage ratio, end of period		8.99			9.21			9.47			9.87			8.17

Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.

The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income (excluding securities gains and losses).

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
DAILY AVERAGE CONSOLIDATED BALANCE SHEETS


	Third			Second			Third			Nine Months ended
	Quarter			Quarter			Quarter			September 30
(dollars in thousands)	2009			2009			2008			2009			2008

ASSETS
EARNING ASSETS
Loans	$	8,661,806		$	8,945,911		$	8,007,507		$	8,890,667		$	7,853,872
Investment securities
Securities available for sale		1,777,298			1,712,510			1,601,202			1,724,006			1,725,933
Securities held to maturity		188,722			194,422			252,379			195,660			272,009

Total investment securities		1,966,020			1,906,932			1,853,581			1,919,666			1,997,942

Federal funds sold and short-term investments		66,225			151,325			21,681			94,976			56,276
Loans held for sale		29,164			58,475			9,396			40,298			13,987

Total earning assets		10,723,215			11,062,643			9,892,165			10,945,607			9,922,077

NONEARNING ASSETS
Goodwill and other intangible assets		452,614			454,799			343,720			454,849			345,471
Accrued interest receivable		37,901			38,562			40,731			38,955			43,228
Other assets		822,974			797,389			736,862			800,913			633,122
Allowance for loan losses		(240,596	)		(213,082	)		(111,149	)		(209,764	)		(97,780	)

Total assets	$	11,796,108		$	12,140,311		$	10,902,329		$	12,030,560		$	10,846,118


LIABILITIES
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits	$	1,094,418		$	1,149,259		$	1,013,472		$	1,166,095		$	1,065,852
Money market investment deposits		1,801,664			1,693,473			1,193,546			1,604,820			1,221,660
Savings deposits		882,520			901,962			932,454			897,461			918,024
Other time deposits		845,684			839,565			722,900			851,841			754,403
Time deposits $100,000 and over		1,368,660			1,546,375			1,596,776			1,510,528			1,593,513

Total interest-bearing deposits		5,992,946			6,130,634			5,459,148			6,030,745			5,553,452


Short-term borrowings		908,700			1,100,222			1,202,585			1,069,831			1,072,588
Long-term debt		199,610			199,449			156,962			194,183			159,744

Total interest-bearing liabilities		7,101,256			7,430,305			6,818,695			7,294,759			6,785,784

NONINTEREST-BEARING LIABILITIES
Noninterest-bearing deposits		3,083,404			3,082,248			2,771,101			3,105,176			2,722,253
Accrued interest payable		18,026			16,596			19,039			18,422			21,640
Other liabilities		107,897			90,553			100,959			99,236			104,539

Total liabilities		10,310,583			10,619,702			9,709,794			10,517,593			9,634,216

SHAREHOLDERS’ EQUITY
Preferred		294,500			294,186			—			294,187			—
Common		1,191,025			1,226,423			1,192,535			1,218,780			1,211,902

Total shareholders’ equity		1,485,525			1,520,609			1,192,535			1,512,967			1,211,902


Total liabilities and shareholders’ equity	$	11,796,108		$	12,140,311		$	10,902,329		$	12,030,560		$	10,846,118


EARNING ASSETS LESS
INTEREST-BEARING LIABILITIES	$	3,621,959		$	3,632,338		$	3,073,470		$	3,650,848		$	3,136,293

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS


	September 30			June 30			December 31			September 30
(dollars in thousands)	2009			2009			2008			2008

ASSETS
Cash and due from financial institutions	$	209,523		$	228,452		$	299,619		$	296,143
Federal funds sold and short-term investments		54,729			58,026			167,268			46,117
Loans held for sale		23,826			68,830			20,773			7,951
Investment securities
Securities available for sale		1,821,246			1,749,338			1,728,962			1,565,459
Securities held to maturity		184,635			193,027			210,393			246,566

Total investment securities		2,005,881			1,942,365			1,939,355			1,812,025

Loans		8,476,989			8,791,840			9,081,850			8,077,775
Allowance for loan losses		(238,600	)		(219,465	)		(161,109	)		(125,370	)

Net loans		8,238,389			8,572,375			8,920,741			7,952,405

Bank premises and equipment		216,722			213,227			212,501			183,669
Goodwill		435,678			435,678			435,678			331,295
Other intangible assets		15,850			18,042			22,883			11,626
Accrued interest receivable		34,671			34,085			39,799			37,592
Other assets		421,199			404,002			321,884			308,624

Total assets	$	11,656,468		$	11,975,082		$	12,380,501		$	10,987,447


LIABILITIES
Noninterest-bearing demand deposits	$	3,130,426		$	3,081,617		$	3,233,550		$	2,809,923
Interest-bearing deposits		5,749,951			6,062,424			6,028,044			5,244,508

Total deposits		8,880,377			9,144,041			9,261,594			8,054,431

Short-term borrowings		991,189			1,014,940			1,276,636			1,465,857
Long-term debt		199,589			199,626			179,236			156,907
Accrued interest payable		14,505			16,886			19,789			18,457

Other liabilities		105,377			111,595			117,768			108,794

Total liabilities		10,191,037			10,487,088			10,855,023			9,804,446

SHAREHOLDERS’ EQUITY
Preferred stock		294,657			294,340			293,706			—
Common stock		2,800			2,800			2,800			2,800
Capital surplus		398,069			396,629			397,703			412,163
Retained earnings		795,199			829,976			869,918			875,347
Accumulated other comprehensive income (loss)		(12,597	)		(23,054	)		(25,952	)		(12,437	)
Treasury stock at cost		(12,697	)		(12,697	)		(12,697	)		(94,872	)

Total shareholders’ equity		1,465,431			1,487,994			1,525,478			1,183,001

Total liabilities and shareholders’ equity	$	11,656,468		$	11,975,082		$	12,380,501		$	10,987,447

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME


	Third			Second			Third		Nine Months Ended
	Quarter			Quarter			Quarter		September 30
(dollars in thousands, except per share data)	2009			2009			2008		2009			2008

INTEREST INCOME
Interest and fees on loans	$	107,751		$	110,353		$	116,501	$	329,918		$	358,973
Interest and dividends on investments		20,803			20,457			21,823		62,156			69,334
Interest on federal funds sold and short-term investments		103			204			115		485			1,495

Total interest income		128,657			131,014			138,439		392,559			429,802

INTEREST EXPENSE
Interest on deposits		15,918			17,360			19,393		50,784			71,189
Interest on short-term borrowings		387			570			5,259		2,235			15,323
Interest on long-term debt		2,498			2,512			2,352		7,499			7,185

Total interest expense		18,803			20,442			27,004		60,518			93,697

NET INTEREST INCOME		109,854			110,572			111,435		332,041			336,105
PROVISION FOR CREDIT LOSSES		80,500			74,000			40,000		219,500			89,000

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		29,354			36,572			71,435		112,541			247,105

NONINTEREST INCOME
Service charges on deposit accounts		9,390			9,396			8,252		28,622			24,893
Bank card fees		5,258			4,620			4,452		14,265			13,024
Trust service fees		2,865			3,187			3,189		9,018			9,964
Secondary mortgage market operations		2,243			3,091			1,063		7,169			3,559
Other noninterest income		9,276			12,137			8,449		31,655			28,615
Securities transactions		195			—			67		195			67

Total noninterest income		29,227			32,431			25,472		90,924			80,122

NONINTEREST EXPENSE
Employee compensation		40,356			40,868			39,456		119,816			115,908
Employee benefits		10,239			10,485			8,547		32,046			26,547

Total personnel		50,595			51,353			48,003		151,862			142,455
Net occupancy		10,137			9,606			9,177		29,419			26,309
Equipment and data processing		6,570			6,528			6,048		19,452			18,510
Legal and other professional services		4,609			4,639			2,951		13,935			7,728
Deposit insurance and regulatory fees		5,281			9,879			1,661		18,745			3,484
Telecommunication and postage		3,246			2,952			2,684		9,295			8,136
Corporate value and franchise taxes		2,094			2,402			2,324		6,867			6,994
Amortization of intangibles		2,192			2,251			1,641		7,033			5,478
Other noninterest expense		18,872			22,197			15,060		55,643			39,974

Total noninterest expense		103,596			111,807			89,549		312,251			259,068

Income (loss) before income taxes		(45,015	)		(42,804	)		7,358		(108,786	)		68,159
Income tax expense		(14,991	)		(21,503	)		310		(46,322	)		18,382

Net income (loss)	$	(30,024	)	$	(21,301	)	$	7,048	$	(62,464	)	$	49,777

Preferred stock dividends		4,067			4,067			—		12,159			—

Net income (loss) to common shareholders	$	(34,091	)	$	(25,368	)	$	7,048	$	(74,623	)	$	49,777


EARNINGS (LOSS) PER COMMON SHARE
Basic	$	(.50	)	$	(.38	)	$	.11	$	(1.10	)	$	.77
Diluted		(.50	)		(.38	)		.11		(1.10	)		.76

WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
Basic		67,772,139			67,484,913			64,057,895		67,575,306			64,324,441
Diluted		67,772,139			67,484,913			64,352,735		67,575,306			64,688,044

CASH DIVIDENDS PER COMMON SHARE	$	.01		$	.01		$	.31	$	.03		$	.93

- MORE -

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
SUMMARY OF INTEREST RATES (TAX-EQUIVALENT)*


	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
	2009			2009			2008			2009			2008

EARNING ASSETS
Loans**		4.93	%		4.92	%		5.79	%		4.95	%		6.10	%
Investment securities		4.44			4.51			4.95			4.54			4.86
Federal funds sold and short-term investments		.62			.54			2.13			.68			3.55

Total interest-earning assets		4.81	%		4.79	%		5.62	%		4.84	%		5.83	%


INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits		.37	%		.37	%		.53	%		.37	%		.66	%
Money market investment deposits		1.08			1.10			.95			.98			1.18
Savings deposits		.16			.16			.40			.16			.47
Other time deposits		1.80			2.14			2.79			2.14			3.28
Time deposits $100,000 and over		1.69			1.77			2.29			1.87			2.79

Total interest-bearing deposits		1.05	%		1.14	%		1.41	%		1.13	%		1.71	%


Short-term borrowings		.17			.21			1.74			.28			1.91
Long-term debt		5.01			5.04			6.00			5.15			6.00

Total interest-bearing liabilities		1.05	%		1.10	%		1.58	%		1.11	%		1.84	%


NET INTEREST SPREAD (tax-equivalent)
Yield on earning assets less cost of interest- bearing liabilities		3.76	%		3.69	%		4.04	%		3.73	%		3.99	%


NET INTEREST MARGIN (tax-equivalent)
Net interest income (tax equivalent) as a percentage of average earning assets		4.11	%		4.05	%		4.53	%		4.10	%		4.57	%


COST OF FUNDS
Interest expense as a percentage of average interest- bearing liabilities plus interest-free funds		.70	%		.74	%		1.09	%		.74	%		1.26	%


*		Based on a 35% tax rate.

**		Net of unearned income, before deducting the allowance for loan losses and including loans held for sale and loans accounted for on a nonaccrual basis.

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN QUALITY


	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
(dollars in thousands)	2009			2009			2008			2009			2008

ALLOWANCE FOR LOAN LOSSES
Allowance at beginning of period	$	219,465		$	194,179		$	109,852		$	161,109		$	87,909
Provision for credit losses		81,000			72,000			40,000			218,000			89,000
Loans charged off		(63,530	)		(48,544	)		(27,325	)		(145,903	)		(56,659	)
Recoveries on loans previously charged off		1,665			1,830			2,843			5,394			5,120

Net loans charged off		(61,865	)		(46,714	)		(24,482	)		(140,509	)		(51,539	)

Allowance at end of period	$	238,600		$	219,465		$	125,370		$	238,600		$	125,370


Allowance for loan losses as a percentage of loans, at end of period		2.81	%		2.50	%		1.55	%		2.81	%		1.55	%

Annualized net charge-offs as a percentage of average loans		2.86			2.09			1.22			2.11			.87

Annualized gross charge-offs as a percentage of average loans		2.93			2.17			1.36			2.19			.96

Recoveries as a percentage of gross charge-offs		2.62			3.77			10.40			3.70			9.04


RESERVE FOR LOSSES ON UNFUNDED CREDIT COMMITMENTS
Reserve at beginning of period	$	2,800		$	800		$	1,300		$	800		$	1,300
Provision for credit losses		(500	)		2,000			—			1,500			—

Reserve at end of period	$	2,300		$	2,800		$	1,300		$	2,300		$	1,300


	September 30			June 30			March 31			December 31			September 30
(dollars in thousands)	2009			2009			2009			2008			2008

NONPERFORMING ASSETS
Loans accounted for on a nonaccrual basis	$	405,852		$	413,174		$	366,249		$	301,095		$	235,136
Restructured loans accruing		—			—			—			—			—

Total nonperforming loans		405,852			413,174			366,249			301,095			235,136
Foreclosed assets and surplus property		49,737			43,625			38,781			28,067			19,597

Total nonperforming assets	$	455,589		$	456,799		$	405,030		$	329,162		$	254,733

Loans 90 days past due still accruing	$	15,077		$	20,364		$	30,564		$	16,101		$	6,145


Nonperforming assets as a percentage of loans plus foreclosed assets and surplus property, at end of period		5.34	%		5.17	%		4.50	%		3.61	%		3.15	%

Allowance for loan losses as a percentage of nonperforming loans, at end of period		58.79			53.12			53.02			53.51			53.32

Loans 90 days past due still accruing as a percentage of loans, at end of period		.18			.23			.34			.18			.08

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN PORTFOLIO DETAIL

LOAN PORTFOLIO AT QUARTER-END


	2009						2008
(dollars in millions)	September		June		March		December		September

Commercial & industrial	$	3,064	$	3,258	$	3,328	$	3,436	$	3,101
Commercial real estate:
Residential construction		215		239		265		274		265
Commercial construction, land & land development		1,487		1,540		1,615		1,614		1,418
CRE — owner-user		1,057		1,077		1,041		1,015		822
CRE — other		1,220		1,235		1,251		1,254		1,107

Total commercial real estate		3,979		4,091		4,172		4,157		3,612
Residential mortgage		1,011		1,028		1,046		1,079		1,003
Consumer		423		415		407		410		362

Total loans	$	8,477	$	8,792	$	8,953	$	9,082	$	8,078

GEOGRAPHIC DISTRIBUTION OF LOAN PORTFOLIO AT SEPTEMBER 30, 2009


										Alabama/						Percent
(dollars in millions)	Louisiana			Texas			Florida			Mississippi			Total			of total

Commercial & industrial	$	2,124		$	596		$	98		$	246		$	3,064			36	%
Commercial real estate:
Residential construction		81			71			42			21			215			3	%
Commercial construction, land & land development		442			444			365			236			1,487			18	%
CRE — owner-user		655			117			209			76			1,057			12	%
CRE — other		617			136			319			148			1,220			14	%

Total commercial real estate		1,795			768			935			481			3,979			47	%
Residential mortgage		553			137			198			123			1,011			12	%
Consumer		292			23			67			41			423			5	%

Total	$	4,764		$	1,524		$	1,298		$	891		$	8,477			100	%

Percent of total		56	%		18	%		15	%		11	%		100	%

CRITICIZED LOANS AT SEPTEMBER 30, 2009


																Percent of
										Alabama/						loan category
(dollars in millions)	Louisiana			Texas			Florida			Mississippi			Total			total

Commercial & industrial	$	74		$	120		$	10		$	31		$	235			8	%
Commercial real estate:
Residential construction		6			14			21			1			42			20	%
Commercial construction, land & land development		33			124			177			40			374			25	%
CRE — owner-user		47			33			51			17			148			14	%
CRE — other		69			38			99			30			236			19	%

Total commercial real estate		155			209			348			88			800			20	%
Residential mortgage		42			7			65			18			132			13	%
Consumer		5			—			7			3			15			4	%

Total	$	276		$	336		$	430		$	140		$	1,182			14	%

Percent of regional loan total		6	%		22	%		33	%		16	%		14	%

-END-

3Q09 Supplemental Data October 19, 2009

2 Commercial and Business Banking Focus Loan mix Total: $8,477mm Yield: 4.93% Note: Financial data as of September 30, 2009 Geographic Distribution

3 Summary Credit Statistics NCOs/avg. loans NPLs/loans NPAs/loans + OREO Reserves/NPLs Note: Financial data as of September 30, 2009

4 Our Portfolio Outside of Florida Performing As Expected Geographic distribution of loan portfolio Geographic distribution of NPLs Florida loan mix Note: Financial data as of September 30, 2009

5 Construction & Development by Geography Note: Financial data as of September 30, 2009 *Includes agricultural loans *

6 Construction & Development by Selected Property Type Note: Financial data as of September 30, 2009

7 Selected Income-Producing CRE by Geography Note: Financial data as of September 30, 2009 Excludes loans on multifamily apartments

8 Income-Producing CRE by Selected Property Type Note: Financial data as of September 30, 2009

9 Increase of $131 million in criticized loans during 3Q09 to $1.182 billion Texas added $100 million in new larger criticized credits representing a variety of types of credits and industries $48 million in oil & gas credits $45 million in commercial C&D credits Prompt Identification of Stressed Credits NPLs are included in total criticized portfolio Note: Financial data as of September 30, 2009

10 Allowance For Loan Losses by Geography Note: Financial data as of September 30, 2009

11 Charge-Offs $63.5 million of gross charge-offs during 3Q09 $50 million from residential-related credits, mainly Tampa $7 million C&I credits $5 million from other income-producing CRE and C&D credits $2 million of consumer credits Gross Charge-offs by Geography: 3Q09 Note: Financial data as of September 30, 2009

Exhibit 99.2

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS


	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
(dollars in thousands, except per share data)	2009			2009			2008			2009			2008

INCOME DATA
Net interest income	$	109,854		$	110,572		$	111,435		$	332,041		$	336,105
Net interest income (tax-equivalent)		110,975			111,820			112,600			335,719			339,760
Provision for credit losses		80,500			74,000			40,000			219,500			89,000
Noninterest income		29,227			32,431			25,472			90,924			80,122
Net securities gains in noninterest income		195			—			67			195			67
Noninterest expense		103,596			111,807			89,549			312,251			259,068
Net income (loss)		(30,024	)		(21,301	)		7,048			(62,464	)		49,777
Net income (loss) to common shareholders		(34,091	)		(25,368	)		7,048			(74,623	)		49,777

QUARTER-END BALANCE SHEET DATA
Loans	$	8,476,989		$	8,791,840		$	8,077,775		$	8,476,989		$	8,077,775
Investment securities		2,005,881			1,942,365			1,812,025			2,005,881			1,812,025
Earning assets		10,561,425			10,861,061			9,943,868			10,561,425			9,943,868
Total assets		11,656,468			11,975,082			10,987,447			11,656,468			10,987,447
Noninterest-bearing deposits		3,130,426			3,081,617			2,809,923			3,130,426			2,809,923
Total deposits		8,880,377			9,144,041			8,054,431			8,880,377			8,054,431
Shareholders’ equity		1,465,431			1,487,994			1,183,001			1,465,431			1,183,001

AVERAGE BALANCE SHEET DATA
Loans	$	8,661,806		$	8,945,911		$	8,007,507		$	8,890,667		$	7,853,872
Investment securities		1,966,020			1,906,932			1,853,581			1,919,666			1,997,942
Earning assets		10,723,215			11,062,643			9,892,165			10,945,607			9,922,077
Total assets		11,796,108			12,140,311			10,902,329			12,030,560			10,846,118
Noninterest-bearing deposits		3,083,404			3,082,248			2,771,101			3,105,176			2,722,253
Total deposits		9,076,350			9,212,882			8,230,249			9,135,921			8,275,705
Shareholders’ equity		1,485,525			1,520,609			1,192,535			1,512,967			1,211,902

COMMON SHARE DATA
Earnings (loss) per share
Basic	$	(.50	)	$	(.38	)	$	.11		$	(1.10	)	$	.77
Diluted		(.50	)		(.38	)		.11			(1.10	)		.76
Cash dividends per share	$	.01		$	.01		$	.31		$	.03		$	.93
Book value per share, end of period	$	17.30		$	17.63		$	18.49		$	17.30		$	18.49
Tangible book value per share, end of period	$	10.63		$	10.93		$	13.13		$	10.63		$	13.13
Trading data
High sales price	$	11.27		$	15.33		$	33.02		$	16.16		$	33.02
Low sales price		7.94			8.33			13.96			7.94			13.96
End-of-period closing price		9.54			9.16			24.25			9.54			24.25
Trading volume		49,059,850			62,308,611			72,540,716			160,264,736			171,546,268

RATIOS
Return on average assets		(1.01	)%		(.70	)%		.26	%		(.69	)%		.61	%
Return on average common equity		(11.36	)		(8.30	)		2.35			(8.19	)		5.49
Net interest margin (TE)		4.11			4.05			4.53			4.10			4.57
Average loans to average deposits		95.43			97.10			97.29			97.32			94.90
Efficiency ratio		73.99			77.51			64.89			73.22			61.71
Annualized expenses to average assets		3.51			3.68			3.29			3.46			3.18
Allowance for loan losses to loans, end of period		2.81			2.50			1.55			2.81			1.55
Annualized net charge-offs to average loans		2.86			2.09			1.22			2.11			.87
Nonperforming assets to loans plus foreclosed assets and surplus property, end of period		5.34			5.17			3.15			5.34			3.15
Average shareholders’ equity to average total assets		12.59			12.53			10.94			12.58			11.17
Tangible common equity to tangible assets, end of period		6.42			6.42			7.89			6.42			7.89
Leverage ratio, end of period		8.99			9.21			8.17			8.99			8.17

Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.

The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income (excluding securities gains and losses).

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
QUARTERLY TRENDS


	Third			Second			First			Fourth			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
(dollars in thousands, except per share data)	2009			2009			2009			2008			2008

INCOME DATA
Net interest income	$	109,854		$	110,572		$	111,615		$	119,540		$	111,435
Net interest income (tax-equivalent)		110,975			111,820			112,924			120,902			112,600
Provision for credit losses		80,500			74,000			65,000			45,000			40,000
Noninterest income		29,227			32,431			29,266			27,050			25,472
Net securities gains in noninterest income		195			—			—			—			67
Noninterest expense		103,596			111,807			96,848			92,026			89,549
Net income (loss)		(30,024	)		(21,301	)		(11,139	)		8,808			7,048
Net income (loss) to common shareholders		(34,091	)		(25,368	)		(15,164	)		8,220			7,048

QUARTER-END BALANCE SHEET DATA
Loans	$	8,476,989		$	8,791,840		$	8,953,307		$	9,081,850		$	8,077,775
Investment securities		2,005,881			1,942,365			1,889,161			1,939,355			1,812,025
Earning assets		10,561,425			10,861,061			10,908,643			11,209,246			9,943,868
Total assets		11,656,468			11,975,082			12,020,481			12,380,501			10,987,447
Noninterest-bearing deposits		3,130,426			3,081,617			3,176,783			3,233,550			2,809,923
Total deposits		8,880,377			9,144,041			9,212,361			9,261,594			8,054,431
Shareholders’ equity		1,465,431			1,487,994			1,522,085			1,525,478			1,183,001

AVERAGE BALANCE SHEET DATA
Loans	$	8,661,806		$	8,945,911		$	9,068,755		$	8,700,317		$	8,007,507
Investment securities		1,966,020			1,906,932			1,885,158			1,876,338			1,853,581
Earning assets		10,723,215			11,062,643			11,054,605			10,719,892			9,892,165
Total assets		11,796,108			12,140,311			12,159,252			11,777,922			10,902,329
Noninterest-bearing deposits		3,083,404			3,082,248			3,150,615			2,975,869			2,771,101
Total deposits		9,076,350			9,212,882			9,119,000			8,646,612			8,230,249
Shareholders’ equity		1,485,525			1,520,609			1,533,293			1,264,714			1,192,535

COMMON SHARE DATA
Earnings (loss) per share
Basic	$	(.50	)	$	(.38	)	$	(.22	)	$	.12		$	.11
Diluted		(.50	)		(.38	)		(.22	)		.12			.11
Cash dividends per share	$	.01		$	.01		$	.01		$	.20		$	.31
Book value per share, end of period	$	17.30		$	17.63		$	18.22		$	18.29		$	18.49
Tangible book value per share, end of period	$	10.63		$	10.93		$	11.46		$	11.48		$	13.13
Trading data
High sales price	$	11.27		$	15.33		$	16.16		$	26.37		$	33.02
Low sales price		7.94			8.33			8.17			14.14			13.96
End-of-period closing price		9.54			9.16			11.45			15.99			24.25
Trading volume		49,059,850			62,308,611			48,896,275			42,771,277			72,540,716

RATIOS
Return on average assets		(1.01	)%		(.70	)%		(.37	)%		.30	%		.26	%
Return on average common equity		(11.36	)		(8.30	)		(4.96	)		2.67			2.35
Net interest margin (TE)		4.11			4.05			4.13			4.49			4.53
Average loans to average deposits		95.43			97.10			99.45			100.62			97.29
Efficiency ratio		73.99			77.51			68.11			62.20			64.89
Annualized expenses to average assets		3.51			3.68			3.19			3.13			3.29
Allowance for loan losses to loans, end of period		2.81			2.50			2.17			1.77			1.55
Annualized net charge-offs to average loans		2.86			2.09			1.41			.91			1.22
Nonperforming assets to loans plus foreclosed assets and surplus property, end of period		5.34			5.17			4.50			3.61			3.15
Average shareholders’ equity to average total assets		12.59			12.53			12.61			10.74			10.94
Tangible common equity to tangible assets, end of period		6.42			6.42			6.68			6.49			7.89
Leverage ratio, end of period		8.99			9.21			9.47			9.87			8.17

Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.

The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income (excluding securities gains and losses).

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
DAILY AVERAGE CONSOLIDATED BALANCE SHEETS


	Third			Second			Third			Nine Months ended
	Quarter			Quarter			Quarter			September 30
(dollars in thousands)	2009			2009			2008			2009			2008

ASSETS
EARNING ASSETS
Loans	$	8,661,806		$	8,945,911		$	8,007,507		$	8,890,667		$	7,853,872
Investment securities
Securities available for sale		1,777,298			1,712,510			1,601,202			1,724,006			1,725,933
Securities held to maturity		188,722			194,422			252,379			195,660			272,009

Total investment securities		1,966,020			1,906,932			1,853,581			1,919,666			1,997,942

Federal funds sold and short-term investments		66,225			151,325			21,681			94,976			56,276
Loans held for sale		29,164			58,475			9,396			40,298			13,987

Total earning assets		10,723,215			11,062,643			9,892,165			10,945,607			9,922,077

NONEARNING ASSETS
Goodwill and other intangible assets		452,614			454,799			343,720			454,849			345,471
Accrued interest receivable		37,901			38,562			40,731			38,955			43,228
Other assets		822,974			797,389			736,862			800,913			633,122
Allowance for loan losses		(240,596	)		(213,082	)		(111,149	)		(209,764	)		(97,780	)

Total assets	$	11,796,108		$	12,140,311		$	10,902,329		$	12,030,560		$	10,846,118


LIABILITIES
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits	$	1,094,418		$	1,149,259		$	1,013,472		$	1,166,095		$	1,065,852
Money market investment deposits		1,801,664			1,693,473			1,193,546			1,604,820			1,221,660
Savings deposits		882,520			901,962			932,454			897,461			918,024
Other time deposits		845,684			839,565			722,900			851,841			754,403
Time deposits $100,000 and over		1,368,660			1,546,375			1,596,776			1,510,528			1,593,513

Total interest-bearing deposits		5,992,946			6,130,634			5,459,148			6,030,745			5,553,452


Short-term borrowings		908,700			1,100,222			1,202,585			1,069,831			1,072,588
Long-term debt		199,610			199,449			156,962			194,183			159,744

Total interest-bearing liabilities		7,101,256			7,430,305			6,818,695			7,294,759			6,785,784

NONINTEREST-BEARING LIABILITIES
Noninterest-bearing deposits		3,083,404			3,082,248			2,771,101			3,105,176			2,722,253
Accrued interest payable		18,026			16,596			19,039			18,422			21,640
Other liabilities		107,897			90,553			100,959			99,236			104,539

Total liabilities		10,310,583			10,619,702			9,709,794			10,517,593			9,634,216

SHAREHOLDERS’ EQUITY
Preferred		294,500			294,186			—			294,187			—
Common		1,191,025			1,226,423			1,192,535			1,218,780			1,211,902

Total shareholders’ equity		1,485,525			1,520,609			1,192,535			1,512,967			1,211,902


Total liabilities and shareholders’ equity	$	11,796,108		$	12,140,311		$	10,902,329		$	12,030,560		$	10,846,118


EARNING ASSETS LESS
INTEREST-BEARING LIABILITIES	$	3,621,959		$	3,632,338		$	3,073,470		$	3,650,848		$	3,136,293

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS


	September 30			June 30			December 31			September 30
(dollars in thousands)	2009			2009			2008			2008

ASSETS
Cash and due from financial institutions	$	209,523		$	228,452		$	299,619		$	296,143
Federal funds sold and short-term investments		54,729			58,026			167,268			46,117
Loans held for sale		23,826			68,830			20,773			7,951
Investment securities
Securities available for sale		1,821,246			1,749,338			1,728,962			1,565,459
Securities held to maturity		184,635			193,027			210,393			246,566

Total investment securities		2,005,881			1,942,365			1,939,355			1,812,025

Loans		8,476,989			8,791,840			9,081,850			8,077,775
Allowance for loan losses		(238,600	)		(219,465	)		(161,109	)		(125,370	)

Net loans		8,238,389			8,572,375			8,920,741			7,952,405

Bank premises and equipment		216,722			213,227			212,501			183,669
Goodwill		435,678			435,678			435,678			331,295
Other intangible assets		15,850			18,042			22,883			11,626
Accrued interest receivable		34,671			34,085			39,799			37,592
Other assets		421,199			404,002			321,884			308,624

Total assets	$	11,656,468		$	11,975,082		$	12,380,501		$	10,987,447


LIABILITIES
Noninterest-bearing demand deposits	$	3,130,426		$	3,081,617		$	3,233,550		$	2,809,923
Interest-bearing deposits		5,749,951			6,062,424			6,028,044			5,244,508

Total deposits		8,880,377			9,144,041			9,261,594			8,054,431

Short-term borrowings		991,189			1,014,940			1,276,636			1,465,857
Long-term debt		199,589			199,626			179,236			156,907
Accrued interest payable		14,505			16,886			19,789			18,457

Other liabilities		105,377			111,595			117,768			108,794

Total liabilities		10,191,037			10,487,088			10,855,023			9,804,446

SHAREHOLDERS’ EQUITY
Preferred stock		294,657			294,340			293,706			—
Common stock		2,800			2,800			2,800			2,800
Capital surplus		398,069			396,629			397,703			412,163
Retained earnings		795,199			829,976			869,918			875,347
Accumulated other comprehensive income (loss)		(12,597	)		(23,054	)		(25,952	)		(12,437	)
Treasury stock at cost		(12,697	)		(12,697	)		(12,697	)		(94,872	)

Total shareholders’ equity		1,465,431			1,487,994			1,525,478			1,183,001

Total liabilities and shareholders’ equity	$	11,656,468		$	11,975,082		$	12,380,501		$	10,987,447

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME


	Third			Second			Third		Nine Months Ended
	Quarter			Quarter			Quarter		September 30
(dollars in thousands, except per share data)	2009			2009			2008		2009			2008

INTEREST INCOME
Interest and fees on loans	$	107,751		$	110,353		$	116,501	$	329,918		$	358,973
Interest and dividends on investments		20,803			20,457			21,823		62,156			69,334
Interest on federal funds sold and short-term investments		103			204			115		485			1,495

Total interest income		128,657			131,014			138,439		392,559			429,802

INTEREST EXPENSE
Interest on deposits		15,918			17,360			19,393		50,784			71,189
Interest on short-term borrowings		387			570			5,259		2,235			15,323
Interest on long-term debt		2,498			2,512			2,352		7,499			7,185

Total interest expense		18,803			20,442			27,004		60,518			93,697

NET INTEREST INCOME		109,854			110,572			111,435		332,041			336,105
PROVISION FOR CREDIT LOSSES		80,500			74,000			40,000		219,500			89,000

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		29,354			36,572			71,435		112,541			247,105

NONINTEREST INCOME
Service charges on deposit accounts		9,390			9,396			8,252		28,622			24,893
Bank card fees		5,258			4,620			4,452		14,265			13,024
Trust service fees		2,865			3,187			3,189		9,018			9,964
Secondary mortgage market operations		2,243			3,091			1,063		7,169			3,559
Other noninterest income		9,276			12,137			8,449		31,655			28,615
Securities transactions		195			—			67		195			67

Total noninterest income		29,227			32,431			25,472		90,924			80,122

NONINTEREST EXPENSE
Employee compensation		40,356			40,868			39,456		119,816			115,908
Employee benefits		10,239			10,485			8,547		32,046			26,547

Total personnel		50,595			51,353			48,003		151,862			142,455
Net occupancy		10,137			9,606			9,177		29,419			26,309
Equipment and data processing		6,570			6,528			6,048		19,452			18,510
Legal and other professional services		4,609			4,639			2,951		13,935			7,728
Deposit insurance and regulatory fees		5,281			9,879			1,661		18,745			3,484
Telecommunication and postage		3,246			2,952			2,684		9,295			8,136
Corporate value and franchise taxes		2,094			2,402			2,324		6,867			6,994
Amortization of intangibles		2,192			2,251			1,641		7,033			5,478
Other noninterest expense		18,872			22,197			15,060		55,643			39,974

Total noninterest expense		103,596			111,807			89,549		312,251			259,068

Income (loss) before income taxes		(45,015	)		(42,804	)		7,358		(108,786	)		68,159
Income tax expense		(14,991	)		(21,503	)		310		(46,322	)		18,382

Net income (loss)	$	(30,024	)	$	(21,301	)	$	7,048	$	(62,464	)	$	49,777

Preferred stock dividends		4,067			4,067			—		12,159			—

Net income (loss) to common shareholders	$	(34,091	)	$	(25,368	)	$	7,048	$	(74,623	)	$	49,777


EARNINGS (LOSS) PER COMMON SHARE
Basic	$	(.50	)	$	(.38	)	$	.11	$	(1.10	)	$	.77
Diluted		(.50	)		(.38	)		.11		(1.10	)		.76

WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
Basic		67,772,139			67,484,913			64,057,895		67,575,306			64,324,441
Diluted		67,772,139			67,484,913			64,352,735		67,575,306			64,688,044

CASH DIVIDENDS PER COMMON SHARE	$	.01		$	.01		$	.31	$	.03		$	.93

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
SUMMARY OF INTEREST RATES (TAX-EQUIVALENT)*


	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
	2009			2009			2008			2009			2008

EARNING ASSETS
Loans**		4.93	%		4.92	%		5.79	%		4.95	%		6.10	%
Investment securities		4.44			4.51			4.95			4.54			4.86
Federal funds sold and short-term investments		.62			.54			2.13			.68			3.55

Total interest-earning assets		4.81	%		4.79	%		5.62	%		4.84	%		5.83	%


INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits		.37	%		.37	%		.53	%		.37	%		.66	%
Money market investment deposits		1.08			1.10			.95			.98			1.18
Savings deposits		.16			.16			.40			.16			.47
Other time deposits		1.80			2.14			2.79			2.14			3.28
Time deposits $100,000 and over		1.69			1.77			2.29			1.87			2.79

Total interest-bearing deposits		1.05	%		1.14	%		1.41	%		1.13	%		1.71	%


Short-term borrowings		.17			.21			1.74			.28			1.91
Long-term debt		5.01			5.04			6.00			5.15			6.00

Total interest-bearing liabilities		1.05	%		1.10	%		1.58	%		1.11	%		1.84	%


NET INTEREST SPREAD (tax-equivalent)
Yield on earning assets less cost of interest- bearing liabilities		3.76	%		3.69	%		4.04	%		3.73	%		3.99	%


NET INTEREST MARGIN (tax-equivalent)
Net interest income (tax equivalent) as a percentage of average earning assets		4.11	%		4.05	%		4.53	%		4.10	%		4.57	%


COST OF FUNDS
Interest expense as a percentage of average interest- bearing liabilities plus interest-free funds		.70	%		.74	%		1.09	%		.74	%		1.26	%


*		Based on a 35% tax rate.

**		Net of unearned income, before deducting the allowance for loan losses and including loans held for sale and loans accounted for on a nonaccrual basis.

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN QUALITY


	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
(dollars in thousands)	2009			2009			2008			2009			2008

ALLOWANCE FOR LOAN LOSSES
Allowance at beginning of period	$	219,465		$	194,179		$	109,852		$	161,109		$	87,909
Provision for credit losses		81,000			72,000			40,000			218,000			89,000
Loans charged off		(63,530	)		(48,544	)		(27,325	)		(145,903	)		(56,659	)
Recoveries on loans previously charged off		1,665			1,830			2,843			5,394			5,120

Net loans charged off		(61,865	)		(46,714	)		(24,482	)		(140,509	)		(51,539	)

Allowance at end of period	$	238,600		$	219,465		$	125,370		$	238,600		$	125,370


Allowance for loan losses as a percentage of loans, at end of period		2.81	%		2.50	%		1.55	%		2.81	%		1.55	%

Annualized net charge-offs as a percentage of average loans		2.86			2.09			1.22			2.11			.87

Annualized gross charge-offs as a percentage of average loans		2.93			2.17			1.36			2.19			.96

Recoveries as a percentage of gross charge-offs		2.62			3.77			10.40			3.70			9.04


RESERVE FOR LOSSES ON UNFUNDED CREDIT COMMITMENTS
Reserve at beginning of period	$	2,800		$	800		$	1,300		$	800		$	1,300
Provision for credit losses		(500	)		2,000			—			1,500			—

Reserve at end of period	$	2,300		$	2,800		$	1,300		$	2,300		$	1,300


	September 30			June 30			March 31			December 31			September 30
(dollars in thousands)	2009			2009			2009			2008			2008

NONPERFORMING ASSETS
Loans accounted for on a nonaccrual basis	$	405,852		$	413,174		$	366,249		$	301,095		$	235,136
Restructured loans accruing		—			—			—			—			—

Total nonperforming loans		405,852			413,174			366,249			301,095			235,136
Foreclosed assets and surplus property		49,737			43,625			38,781			28,067			19,597

Total nonperforming assets	$	455,589		$	456,799		$	405,030		$	329,162		$	254,733

Loans 90 days past due still accruing	$	15,077		$	20,364		$	30,564		$	16,101		$	6,145


Nonperforming assets as a percentage of loans plus foreclosed assets and surplus property, at end of period		5.34	%		5.17	%		4.50	%		3.61	%		3.15	%

Allowance for loan losses as a percentage of nonperforming loans, at end of period		58.79			53.12			53.02			53.51			53.32

Loans 90 days past due still accruing as a percentage of loans, at end of period		.18			.23			.34			.18			.08

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN PORTFOLIO DETAIL

LOAN PORTFOLIO AT QUARTER-END


	2009						2008
(dollars in millions)	September		June		March		December		September

Commercial & industrial	$	3,064	$	3,258	$	3,328	$	3,436	$	3,101
Commercial real estate:
Residential construction		215		239		265		274		265
Commercial construction, land & land development		1,487		1,540		1,615		1,614		1,418
CRE — owner-user		1,057		1,077		1,041		1,015		822
CRE — other		1,220		1,235		1,251		1,254		1,107

Total commercial real estate		3,979		4,091		4,172		4,157		3,612
Residential mortgage		1,011		1,028		1,046		1,079		1,003
Consumer		423		415		407		410		362

Total loans	$	8,477	$	8,792	$	8,953	$	9,082	$	8,078

GEOGRAPHIC DISTRIBUTION OF LOAN PORTFOLIO AT SEPTEMBER 30, 2009


										Alabama/						Percent
(dollars in millions)	Louisiana			Texas			Florida			Mississippi			Total			of total

Commercial & industrial	$	2,124		$	596		$	98		$	246		$	3,064			36	%
Commercial real estate:
Residential construction		81			71			42			21			215			3	%
Commercial construction, land & land development		442			444			365			236			1,487			18	%
CRE — owner-user		655			117			209			76			1,057			12	%
CRE — other		617			136			319			148			1,220			14	%

Total commercial real estate		1,795			768			935			481			3,979			47	%
Residential mortgage		553			137			198			123			1,011			12	%
Consumer		292			23			67			41			423			5	%

Total	$	4,764		$	1,524		$	1,298		$	891		$	8,477			100	%

Percent of total		56	%		18	%		15	%		11	%		100	%

CRITICIZED LOANS AT SEPTEMBER 30, 2009


																Percent of
										Alabama/						loan category
(dollars in millions)	Louisiana			Texas			Florida			Mississippi			Total			total

Commercial & industrial	$	74		$	120		$	10		$	31		$	235			8	%
Commercial real estate:
Residential construction		6			14			21			1			42			20	%
Commercial construction, land & land development		33			124			177			40			374			25	%
CRE — owner-user		47			33			51			17			148			14	%
CRE — other		69			38			99			30			236			19	%

Total commercial real estate		155			209			348			88			800			20	%
Residential mortgage		42			7			65			18			132			13	%
Consumer		5			—			7			3			15			4	%

Total	$	276		$	336		$	430		$	140		$	1,182			14	%

Percent of regional loan total		6	%		22	%		33	%		16	%		14	%

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