Central Florida’s banking landscape is in for a shake-up. Gulfport, Mississippi-based Hancock Whitney Corporation said Wednesday it will acquire OFB Bancshares, the parent company of Orlando-based One Florida Bank, in an all-cash deal valued at $377.6 million. The move folds One Florida’s six local offices into Hancock Whitney’s footprint and gives the buyer a much firmer foothold in the Orlando market. The transaction is slated to close in the third quarter of 2026, pending standard regulatory and shareholder approvals.
Deal terms and scale
According to Hancock Whitney, the agreement values OFB Bancshares at $377.6 million in cash and brings a franchise with roughly $2.1 billion in consolidated assets into its orbit. One Florida reported about $1.7 billion in loans and $1.9 billion in deposits as of March 31, 2026, according to the same filing.
The company said the acquisition is expected to be immediately accretive to GAAP earnings per share, excluding one-time merger charges. As usual in bank deals, the closing is subject to regulatory nods and shareholder approval, with both sides still targeting a third-quarter 2026 finish line.
Local leadership and community roots
One Florida has built its brand on being a locally focused lender and was named one of Orlando’s fastest-growing private companies in 2025, capping several years of rapid expansion across the metro. As reported by the Orlando Business Journal, the bank operates six offices across Orlando, Winter Park, Longwood, Oviedo, Apopka and Chipley.
In the joint announcement, One Florida CEO Rick Pullum said the sale keeps the bank’s community ties intact while plugging its customers into a broader menu of products and resources, according to Hancock Whitney.
Deal math and investor outlook
Investor materials summarized in market coverage show Hancock Whitney modeling about 40% cost savings on One Florida’s expense base, or roughly $15.8 million, against estimated one-time pre-tax merger charges of around $30 million. That pencils out to a projected tangible book value earnback period of roughly four years.
Analysts note that management is guiding to high-single-digit earnings-per-share accretion and a pro forma 2027 return on tangible common equity of about 16.3%, figures pulled from the company’s 8-K and investor presentation and detailed by MarketScreener.
How this fits Florida’s banking shake-up
The deal lands amid an ongoing consolidation wave that has out-of-state banks muscling up in Florida, redrawing deposit rankings and branch maps from Jacksonville to Miami. In recent weeks, Hoodline’s out-of-state bank storms to No. 1 coverage spotlighted how Mississippi-based players and other non-Florida institutions have been racing to grab deposits and branches across the state.
For now, both Hancock Whitney and One Florida say they will work together on customer communications and integration plans as approvals move forward. One Florida’s clients and staff are being told to expect more details in the coming months. Shareholder votes and regulatory sign-offs remain key hurdles before the deal officially closes, and both banks emphasize that day-to-day service will continue throughout the transition. We will be watching the filings and local reaction as the combination heads toward its projected third-quarter 2026 close.
