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Business Description
Whitney Holding Corporation is a Louisiana bank holding company functioning as the parent of Whitney National Bank (the Bank), which serves the greater New Orleans area. The Company also owns Whitney Community Development Corporation, which is authorized to make equity and debt investments in corporations or projects whose activities promote community welfare. Such activities could include providing housing, services or jobs for residents of areas with mainly low or moderate incomes and supporting small businesses that service such areas. Whitney Securities, L.L.C., a broker-dealer in securities, is a wholly owned subsidiary of the Bank. Through the Bank, Whitney engages in community banking, serving a market area that covers the five-state Gulf Coast region stretching from Houston, Texas, across southern Louisiana and the coastal region of Mississippi, to central and south Alabama and into the western panhandle of Florida.

Financial Information
For the nine months ended 9/30/04, total interest income rose 3% to $262.7 million. Net interest income after LLP rose 5% to $233.7 million. Net income fell 6% to $70.1 million. Net interest income reflects higher investment income and lower deposit costs. Earnings were offset by lower income from secondary market mortgage operations.