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

NEWS RELEASE

CONTACT:
Thomas L. Callicutt, Jr., CFO
 
FOR IMMEDIATE RELEASE
 
Trisha Voltz Carlson, Investor Relations
 
April 27, 2010
 
504/299-5208
   
 
tcarlson@whitneybank.com
   

WHITNEY REPORTS FIRST QUARTER 2010 FINANCIAL RESULTS

New Orleans, Louisiana.  Whitney Holding Corporation (NASDAQ—WTNY) (the “Company”) reported a net loss of $6.3 million for the first quarter of 2010 compared to net income of $318,000 in the fourth quarter of 2009 and a net loss of $11.1 million in the first quarter of 2009.  Including the $4.1 million dividend paid each quarter to the U.S. Treasury on the preferred stock issued under TARP, the loss per diluted common share was $.11 for the first quarter of 2010 and $.04 and $.22 for the fourth quarter and first quarter of 2009, respectively.
"The results for the first quarter were in line with our expectations," said John C. Hope, III, Chairman and CEO.  "Credit metrics, while still showing signs of stress in some areas, did support our view that credit likely turned the corner last quarter, and we now expect the loan portfolio to perform as it typically would in a historical recessionary environment.  The most severe real estate-related issues in Florida, which have impacted credit for over a year now, appear to be subsiding as does the need for outsized loan loss provisions.  The Company’s revenue results for this quarter reflect the reduced level of economic activity in our markets that we, along with others in the industry, noted last quarter.  Overall demand for credit remains weak, which led to a decline in both our loans outstanding and net interest income.  While we continue to focus on credit issues, we remain equally as focused on revenue generation and have recently made several strategic hires and have successfully introduced some updated products to our customers.  We remain encouraged by the prospect of an improving economy, the strong foundation we are creating and the traction we  
 
 
 - MORE -

The following information was filed by Whitney Holding Corp (WTNY) on Tuesday, April 27, 2010 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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