NEW ORLEANS, Aug. 18, 2010 (GLOBE NEWSWIRE) -- Whitney National Bank announced it has been selected to provide check cashing services for claimants who receive compensation from the Gulf Coast Claims Facility administered by Kenneth Feinberg and funded by the $20 billion Deepwater Horizon Oil Spill Trust. Citigroup will act as corporate trustee and paying agent. The trust was established to help those affected by the recent oil spill in the Gulf of Mexico.
"We are proud that we have been chosen to help with the disbursement of proceeds in partnership with Citigroup," said Whitney Bank Chairman and CEO John C. Hope, III. "The Whitney has a heritage of supporting our communities. Offering this service for affected coastal residents and businesses is our way of helping bring financial relief to a region we have served devotedly and continuously since our founding in 1883. This is our home and we are committed to preserving our way of life. The Gulf Coast Claims Facility will provide financial relief that will help sustain the long term economic livelihood of these communities."
Recipients can cash their check at any one of the 160 Whitney Bank locations. "With our extensive Gulf Coast branch network, this is an excellent opportunity to serve our communities," said David Frady, Executive Vice President, Commercial Banking. To locate the most convenient Whitney branch, recipients can visit whitneybank.com or call 1.800.844.4450.
Whitney Holding Corporation (Nasdaq:WTNY) through its banking subsidiary Whitney National Bank serves the five state Gulf Coast region stretching from Houston, Texas across South Louisiana and the coastal region of Mississippi; to central and south Alabama; the panhandle of Florida; and the Tampa Bay metropolitan area of Florida. For more information, visit Whitney Bank online at http://www.whitneybank.com">http://www.whitneybank.com.
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