Exhibit 99.1

NEWS RELEASE

CONTACT:
Thomas L. Callicutt, Jr.
FOR IMMEDIATE RELEASE
 
Trisha Voltz Carlson
January 25, 2007
 
504/299-5208
 
 
tcarlson@whitneybank.com
 

WHITNEY REPORTS ANNUAL AND FOURTH QUARTER 2006 EARNINGS

New Orleans, Louisiana. Whitney Holding Corporation (NASDAQ—WTNY) earned $145 million for the year ended December 31, 2006, compared with annual net income of $102 million for 2005. Per share earnings were $2.24 per basic share and $2.20 per diluted share in 2006, compared to $1.65 and $1.63, respectively, in 2005. Whitney saw a rapid build-up of deposits following the late-summer hurricanes of 2005 that impacted parts of Whitney’s market area, and the funds retained from these deposits during 2006 were a major factor behind the significant growth in average earning assets and net interest income compared to 2005. Annual average deposits in 2006 were up 17%, or $1.3 billion, from 2005. The results for 2006 included approximately $16 million in expenses associated with the storms. This total included both the cost to implement initiatives that reduced the exposure of the Company’s operations to future disasters and improved operational resilience as well as certain increased operating costs and additional expenditures and charges directly related to the 2005 storms. Approximately $5 million of storm-related expenses were recognized in 2005. Management’s initial assessment of the storms’ impact on credit quality was the main factor in the $38 million annual provision for loan losses in 2005.
Whitney earned $33.9 million in the quarter ended December 31, 2006, compared with net income of $35.1 million for the fourth quarter of 2005. Per share earnings were $.52 per basic share and $.51 per diluted share in 2006’s fourth quarter, compared to $.56 and $.55, respectively, for the year-earlier period. The results for the fourth quarter of 2006 included approximately $4.9 million in expenses associated with the 2005 hurricanes. The components of these expenses are discussed in more detail below. The current quarter’s results were also affected by a reduction in average

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The following information was filed by Whitney Holding Corp (WTNY) on Thursday, January 25, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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