8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  July 27, 2010

WHITNEY HOLDING CORPORATION

(Exact Name of Registrant as Specified in Charter)

Louisiana	0-1026	72-6017893
(State or Other	(Commission	(IRS Employer
Jurisdiction of	File Number)	Identification No.)
Incorporation)

228 St. Charles Avenue, New Orleans, Louisiana 70130   

(Addresses of Principal Executive Offices, including Zip Code)

(504) 586-7272               

(Registrant’s Telephone Number, including Area Code)

___________________________

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

q	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
q	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
q	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
q	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On July 27, 2010, Whitney Holding Corporation issued a news release announcing its financial results for the quarter ended June 30, 2010 (the "News Release").  The News Release is attached as exhibit 99.1 to this report and incorporated herein by reference.

Item 9.01 Financial Statement and Exhibits.

(d) Exhibits

Exhibit Number	Description
99.1	News Release, dated July 27, 2010

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	WHITNEY HOLDING CORPORATION
By:	/s/ Thomas L. Callicutt, Jr.
	Thomas L. Callicutt, Jr.
	Senior Executive Vice President
	and Chief Financial Officer

Date:  July 27, 2010

- 2 - -

EXHIBIT INDEX

Exhibit Number	Description
99.1	News Release, dated July 27, 2010

- 3 - -

EX-99.1

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	July 27, 2010
	504/299-5208
	tcarlson@whitneybank.com

WHITNEY REPORTS SECOND QUARTER 2010 FINANCIAL RESULTS

New Orleans, Louisiana.  Whitney Holding Corporation (NASDAQ—WTNY) (the “Company”) reported a net loss of $18.0 million for the second quarter of 2010 compared to net losses of $6.3 million and $21.3 million, respectively, in the first quarter of 2010 and in the second 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 $.23 for the second quarter of 2010, $.11 for the first quarter of 2010 and $.38 for the second quarter of 2009.

"We are disappointed that the economy remained sluggish during the second quarter and did not show the signs of improvement we were expecting," said John C. Hope, III, Chairman and CEO.  "It has become increasingly difficult to predict the timing of a solid economic recovery, and this, coupled with the impact the Gulf oil spill appears to be having on business activity in our markets, has tempered our optimism for the remainder of 2010.  The continued good performance from our core businesses, and the traction we are gaining as we implement the initiatives in our Strategic Plan, are being overshadowed by the impact of current economic conditions on our credit metrics.  However, our long-term earnings capacity, the underlying strengths of our franchise and our capital position all remain strong."

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HIGHLIGHTS OF SECOND QUARTER FINANCIAL RESULTS

Loans and Earning Assets

Total loans at the end of the second quarter of 2010 were $8.0 billion, down $94 million, or 1%, from March 31, 2010.  Funding of new relationships, mainly in Louisiana markets, and stability in the existing loan portfolio helped partially offset the decline from gross charge-offs, foreclosures and problem loan sales.

Average loans for the second quarter of 2010 totaled $8.1 billion, down $159 million, or 2%, compared to the first quarter of 2010.  Average earning assets of $10.3 billion were also down 2%.

Deposits and Funding

Average deposits in the second quarter of 2010 were $8.9 billion, down $131 million, or less than 2%, from the first quarter of 2010.  Total period-end deposits at June 30, 2010 of $8.8 billion were also down less than 2% compared to March 31, 2010.

Noninterest-bearing deposits of $3.2 billion at June 30, 2010 were down $69 million, or 2%, from the end of the first quarter of 2010, while average noninterest-bearing deposits were virtually unchanged between these periods.  Noninterest-bearing demand deposits comprised almost 37% of total average deposits and funded approximately 32% of average earning assets for the quarter.  The percentage of funding from all noninterest-bearing sources totaled 37%.  Higher-cost interest-bearing funds, which include time deposits and borrowings, funded 26% of average earning assets in the second quarter of 2010 unchanged from the first quarter of 2010.

Net Interest Income

The lower level of earning assets was the main factor behind a decrease of $.8 million, or less than 1%, in net interest income (TE) for the second quarter of 2010 compared to the first quarter of 2010.The net interest margin (TE) of 4.15% was unchanged from the first quarter, with both asset yields and funding costs declining moderately between these periods.

Provision for Credit Losses and Credit Quality

Whitney provided $59.0 million for credit losses in the second quarter of 2010, an increase of $21.5 million from the first quarter of 2010, and down $15.0 million from the second quarter of 2009.  As was the case in the past several quarters, the majority of the current quarter’s provision, $35 million, or 60%, came from the Florida portfolio and was predominantly related to real estate credits individually evaluated for impairment.  Approximately $6 million of the Florida provision was related to problem note sales.

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The second quarter provision also included $5 million based on an assessment of the impact of the recent oil spill on tourism in Gulf Coast beach communities.  An increase in the level of criticized loans in Texas contributed to most of the remainder of the provision in the second quarter.

Net loan charge-offs in the second quarter of 2010 were $53.3 million, or 2.65% of average loans on an annualized basis, compared to $37.1 million, or 1.81% of average loans, in the first quarter of 2010.  Approximately 63% of total gross charge-offs came from credits serviced in the Florida market, mainly commercial and residential-related real estate.

 The allowance for loan losses represented 2.88% of total loans at June 30, 2010, up from 2.77% at March 31, 2010 and 2.50% at June 30, 2009.

Classified loans – identified as having a well-defined weakness – totaled $886 million at June 30, 2010, virtually unchanged from March 31, 2010.  Special mention loans – deserving close attention because of a potential weakness – totaled $266 million, a net increase of approximately $75 million from the first quarter of 2010.  The Company’s criticized loan portfolio is the total of classified and special mention loans.  As noted in our pre-release on July 13, 2010, and as discussed in prior quarters, the sluggish economic environment continues to impact various types of credits across our footprint.  During the second quarter, classified loans serviced from Louisiana markets increased $27 million, while those serviced from Texas increased $24 million. The majority of the increase in Louisiana was related to commercial and industrial (C&I) credits, while the majority of the increase in Texas was related to commercial real estate (CRE) credits.  Classified loans decreased $38 million in Florida and $19 million in Alabama from the first quarter of 2010, reflecting mainly charge-offs, foreclosures and note sales.

Management continues to believe that many of the newly classified and special mention credits have lower loss potential compared to the losses incurred on credits impacted by the real estate market problems in Florida.

Nonperforming loans, a subset of classified loans, totaled $451 million at June 30, 2010, a net increase of $15 million from March 31, 2010.  Slightly over 50% of nonperforming loans came from Whitney’s Florida markets, with 21% from Louisiana, 16% from Texas and 11% from Alabama/Mississippi.  Nonperforming loans individually evaluated for impairment, a subset of total nonperforming loans, totaled $376 million at June 30, 2010.  Cumulative charge-offs and the current impaired loss allowance on these loans represented approximately 37% of the contractual principal balances on these credits.  Foreclosed assets totaled $92 million at June 30, 2010, a net increase of approximately $31 million from March 31, 2010.

4

Impact of the Gulf Coast Oil Spill

On April 20, 2010 the Deepwater Horizon drilling rig, which was operating in the deep waters of the Gulf of Mexico, exploded and sank, resulting in a substantial oil leak from the wellhead.  The spill has caused, and continues to cause, significant disruption to the Gulf’s fishing and tourism industries.  In addition, a six-month drilling moratorium on deepwater rigs was imposed by the U.S. Government, directly impacting 33 rigs and indirectly impacting numerous others.  The owner of the well, BP p.l.c., has committed to compensate those impacted by the oil spill and has established a fund to pay claims.

Whitney management and bankers continue to review credits and talk to both customers and industry experts to determine the potential impact of the spill on the Company’s loan portfolio.  This review focused initially on three areas: (1) identifying and evaluating our direct exposure to fishing, seafood processing and marinas, (2) assessing the short-term and long-term impact on oil and gas (O&G) industry companies, including the impact of the moratorium, and (3) evaluating the impact on our customers in coastal communities that rely heavily on summer tourism.

The Bank’s direct exposure to the fishing, seafood processing and marina industries totaled approximately $35 million in outstanding at June 30, 2010 and management currently expects minimal impact to the businesses of our customers within this sector.

Loans outstanding to the O&G sector totaled $762 million, or approximately 10% of total loans at June 30, 2010.  Based on discussions with customers in this industry, and currently available information, management expects minimal near-term impact to their business operations and to the performance of our loans in this portfolio sector.  Management’s current assessment could change depending upon the length of the moratorium on deepwater drilling in the Gulf and the ultimate impact of this disaster on the cost of drilling operations in the future.

 Management has identified approximately $270 million in loans outstanding that could be directly and indirectly impacted by a downturn in tourism, and management is closely monitoring this portion of the loan portfolio.  As noted earlier, the provision for credit losses in the second quarter of 2010 included $5 million based on the assessment of the estimated impact of the oil spill on tourism-related businesses in these Gulf Coast beach communities.

Noninterest Income

Noninterest income for the second quarter of 2010 was up $3.5 million, or 12%, from the first quarter of 2010.

5

Most recurring sources of income registered increases, reflecting increased activity and the benefit of recent marketing campaigns.  Deposit service charge income was up 2%, or $.2 million, bankcard fees increased 10%, or $.5 million, and secondary mortgage market income was up 9%, or approximately $.2 million, during the quarter.  Management expects that the new consumer protection regulations that are being implemented in the third quarter of 2010 and the expiration of the federal tax credit for new homebuyers could result in modestly lower levels of fee income for the remainder of 2010.

Other noninterest income for the second quarter was up $2.5 million compared to the first quarter, including a $1.3 million insurance settlement gain related to the hurricanes in 2008 and a gain of $.8 million from the sale of surplus banking property.

Noninterest Expense

Total noninterest expense for the second quarter of 2010 increased less than 1%, or $.4 million, from the first quarter of 2010.

Total personnel expense for the second quarter of 2010 decreased $.4 million, or less than 1%, from the first quarter of 2010.   Employee compensation increased $1.7 million mainly as a result of the company-wide annual merit increase and final adjustments to 2009 annual sales-based incentive plan compensation in the first quarter of 2010.  No management cash bonus was accrued during the first half of 2010 or during all of 2009.  Employee benefits declined $2.0 million during the second quarter on reductions in the annual cost of retirement benefit plans and a normal decrease in payroll taxes from beginning of year levels.

Loan collection costs, together with foreclosed asset management expenses and provisions for valuation losses, totaled $6.0 million in the second quarter of 2010, down from $6.3 million in the first quarter of 2010.  Legal and other professional services were up $4.1 million during the second quarter and included services associated with collection of problem credits, technology initiatives, and compliance and other regulatory projects.

Other noninterest expense was down $3.3 million in the second quarter of 2010.  The first quarter of 2010 included an estimated $4.5 million loss resulting from repurchase obligations on certain mortgage loans originated and sold by a recently acquired entity.  The second quarter of 2010 included $.4 million for the value of the annual directors’ stock award and an additional $.5 million in deposit insurance assessments.

6

Capital

“We believe our strong capital base will allow us to remain opportunistic in disposing of problem assets,” said Hope.  The Company’s tangible common equity ratio increased to 8.49% at June 30, 2010, compared to 8.38% at March 31, 2010.  The Company’s leverage ratio at June 30, 2010 declined to 10.48% compared to 10.61% at March 31, 2010.  The slight decline was mainly related to an adjustment in the amount of deferred tax assets disallowed for regulatory capital calculations.  Regulatory capital ratios remain above those required for the Company and Whitney National Bank to be considered well-capitalized institutions.

Conference Call and Additional Financial Information

Management will host a conference call today at 3:00 p.m. CST to review second quarter 2010 results.  Analysts and investors may dial in and participate in the question/answer session.  A live listen-only webcast of the call will be available under the Investor Relations section of our website at http://www.whitneybank.com.  To participate in the Q&A portion of the call, dial (877) 354-4079 or (408) 427-3700.

An audio archive of the conference call will be available under the Investor Relations section of our website.  A replay of the call will also be available through August 3, 2010 by dialing (800) 642-1687 or (706) 645-9291, passcode 86132986.

This earnings release, including additional financial tables and a slide presentation related to second quarter results, is posted in the Investor Relations section of the Company's website athttp://investor.whitneybank.com/releases.cfm?ReleasesType=Earnings&Year=2010.

Whitney Holding Corporation, through its banking subsidiary Whitney National Bank, serves the five-state Gulf Coast region stretching from Houston, Texas; across southern Louisiana and the coastal region of Mississippi; to central and south Alabama; the panhandle of Florida; and the Tampa Bay metropolitan area of Florida.

-----

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and we intend such forward-looking statements to be covered by the safe harbor provisions therein and are including this statement for purposes of invoking these safe-harbor provisions.  Forward-looking statements

7

provide projections of results of operations or of financial condition or state other forward-looking information, such as expectations about future conditions and descriptions of plans and strategies for the future.  The forward-looking statements made in this release include, but may not be limited to, expectations regarding credit quality metrics in the loan portfolio and specific industry and geographic segments within the loan portfolio, future profitability, the impact of the oil spill in the Gulf on Whitney’s loan portfolio, the timing and strength of any economic recovery, impact from new regulations, the overall capital strength of Whitney and its ability to dispose of problem assets.

Whitney’s ability to accurately project results or predict the effects of future plans or strategies is inherently limited.  Although Whitney believes that the expectations reflected in its forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements.  Factors that could cause actual results to differ from those expressed in Whitney’s forward-looking statements include, but are not limited to, those risk factors outlined in Whitney’s public filings with the Securities and Exchange Commission, which are available at the SEC’s internet site (http://www.sec.gov).

You are cautioned not to place undue reliance on these forward-looking statements.  Whitney does not intend, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of differences in actual results, changes in assumptions or changes in other factors affecting such statements, except as required by law.

(WTNY-E)

 8

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS
	Second			First			Second			Six Months Ended
	Quarter			Quarter			Quarter			June 30
(dollars in thousands, except per share data)	2010			2010			2009			2010			2009
INCOME DATA
Net interest income	$	105,869		$	106,629		$	110,572		$	212,498		$	222,187
Net interest income (tax-equivalent)		106,810			107,584			111,820			214,394			224,744
Provision for credit losses		59,000			37,500			74,000			96,500			139,000
Noninterest income		31,761			28,247			32,431			60,008			61,697
Net securities gains in noninterest income		-			-			-			-			-
Noninterest expense		110,147			109,706			111,807			219,853			208,655
Net income (loss)		(17,993	)		(6,280	)		(21,301	)		(24,273	)		(32,440	)
Net income (loss) to common shareholders		(22,060	)		(10,347	)		(25,368	)		(32,407	)		(40,532	)
QUARTER-END BALANCE SHEET DATA
Loans	$	7,979,371		$	8,073,498		$	8,791,840		$	7,979,371		$	8,791,840
Investment securities		2,076,313			2,042,307			1,942,365			2,076,313			1,942,365
Earning assets		10,214,267			10,395,252			10,861,061			10,214,267			10,861,061
Total assets		11,416,761			11,580,806			11,975,082			11,416,761			11,975,082
Noninterest-bearing deposits		3,229,244			3,298,095			3,081,617			3,229,244			3,081,617
Total deposits		8,819,051			8,961,957			9,144,041			8,819,051			9,144,041
Shareholders' equity		1,674,166			1,676,240			1,487,994			1,674,166			1,487,994
AVERAGE BALANCE SHEET DATA
Loans	$	8,051,668		$	8,210,283		$	8,945,911		$	8,130,537		$	9,006,994
Investment securities		2,021,359			2,008,095			1,906,932			2,014,764			1,896,105
Earning assets		10,314,161			10,482,211			11,062,643			10,397,722			11,058,646
Total assets		11,503,150			11,656,777			12,140,311			11,579,539			12,149,729
Noninterest-bearing deposits		3,255,019			3,260,794			3,082,248			3,257,891			3,116,242
Total deposits		8,895,731			9,026,703			9,212,882			8,960,855			9,166,202
Shareholders' equity		1,676,468			1,684,537			1,520,609			1,680,480			1,526,916
COMMON SHARE DATA
Earnings (loss) per share
Basic	$	( .23	)	$	( .11	)	$	( .38	)	$	( .34	)	$	( .60	)
Diluted		( .23	)		( .11	)		( .38	)		( .34	)		( .60	)
Cash dividends per share	$	.01		$	.01		$	.01		$	.02		$	.02
Book value per share, end of period	$	14.29		$	14.32		$	17.63		$	14.29		$	17.63
Tangible book value per share, end of period	$	9.65		$	9.67		$	10.93		$	9.65		$	10.93
Trading data
High sales price	$	15.29		$	14.53		$	15.33		$	15.29		$	16.16
Low sales price		9.25			9.05			8.33			9.05			8.17
End-of-period closing price		9.25			13.79			9.16			9.25			9.16
Trading volume		75,477,402			67,377,896			62,308,611			142,855,298			111,204,886
RATIOS
Return on average assets		(.63	)%		(.22	)%		(.70	)%		(.42	)%		(.54	)%
Return on average common equity		(6.41	)		(3.02	)		(8.30	)		(4.72	)		(6.63	)
Net interest margin (TE)		4.15			4.15			4.05			4.15			4.09
Average loans to average deposits		90.51			90.96			97.10			90.73			98.26
Efficiency ratio		79.49			80.77			77.51			80.12			72.84
Annualized expenses to average assets		3.83			3.76			3.68			3.80			3.43
Allowance for loan losses to loans, end of period		2.88			2.77			2.50			2.88			2.50
Annualized net charge-offs to average loans		2.65			1.81			2.09			2.22			1.75
Nonperforming assets to loans plus foreclosed
assets and surplus property, end of period		6.73			6.12			5.17			6.73			5.17
Average shareholders' equity to average total assets		14.57			14.45			12.53			14.51			12.57
Tangible common equity to tangible assets,
end of period		8.49			8.38			6.42			8.49			6.42
Leverage ratio, end of period		10.48			10.61			9.21			10.48			9.21
Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.
The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income (excluding securities gains and losses).
The tangible common equity to tangible assets ratio is total shareholders' equity less preferred stock and intangible assets divided by
total assets less intangible assets.

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
QUARTERLY HIGHLIGHTS
	Second			First			Fourth			Third			Second
	Quarter			Quarter			Quarter			Quarter			Quarter
(dollars in thousands, except per share data)	2010			2010			2009			2009			2009
INCOME DATA
Net interest income	$	105,869		$	106,629		$	111,391		$	109,854		$	110,572
Net interest income (tax-equivalent)		106,810			107,584			112,396			110,975			111,820
Provision for credit losses		59,000			37,500			39,500			80,500			74,000
Noninterest income		31,761			28,247			29,026			29,227			32,431
Net securities gains in noninterest income		-			-			139			195			-
Noninterest expense		110,147			109,706			104,143			103,596			111,807
Net income (loss)		(17,993	)		(6,280	)		318			(30,024	)		(21,301	)
Net income (loss) to common shareholders		(22,060	)		(10,347	)		(3,749	)		(34,091	)		(25,368	)
QUARTER-END BALANCE SHEET DATA
Loans	$	7,979,371		$	8,073,498		$	8,403,443		$	8,476,989		$	8,791,840
Investment securities		2,076,313			2,042,307			2,050,440			2,005,881			1,942,365
Earning assets		10,214,267			10,395,252			10,699,847			10,561,425			10,861,061
Total assets		11,416,761			11,580,806			11,892,141			11,656,468			11,975,082
Noninterest-bearing deposits		3,229,244			3,298,095			3,301,354			3,130,426			3,081,617
Total deposits		8,819,051			8,961,957			9,149,894			8,880,377			9,144,041
Shareholders' equity		1,674,166			1,676,240			1,681,064			1,465,431			1,487,994
AVERAGE BALANCE SHEET DATA
Loans	$	8,051,668		$	8,210,283		$	8,434,397		$	8,661,806		$	8,945,911
Investment securities		2,021,359			2,008,095			2,025,103			1,966,020			1,906,932
Earning assets		10,314,161			10,482,211			10,635,573			10,723,215			11,062,643
Total assets		11,503,150			11,656,777			11,733,149			11,796,108			12,140,311
Noninterest-bearing deposits		3,255,019			3,260,794			3,222,748			3,083,404			3,082,248
Total deposits		8,895,731			9,026,703			9,017,220			9,076,350			9,212,882
Shareholders' equity		1,676,468			1,684,537			1,629,312			1,485,525			1,520,609
COMMON SHARE DATA
Earnings (loss) per share
Basic	$	( .23	)	$	( .11	)	$	( .04	)	$	( .50	)	$	( .38	)
Diluted		( .23	)		( .11	)		( .04	)		( .50	)		( .38	)
Cash dividends per share	$	.01		$	.01		$	.01		$	.01		$	.01
Book value per share, end of period	$	14.29		$	14.32		$	14.37		$	17.30		$	17.63
Tangible book value per share, end of period	$	9.65		$	9.67		$	9.71		$	10.63		$	10.93
Trading data
High sales price	$	15.29		$	14.53		$	9.69		$	11.27		$	15.33
Low sales price		9.25			9.05			7.78			7.94			8.33
End-of-period closing price		9.25			13.79			9.11			9.54			9.16
Trading volume		75,477,402			67,377,896			79,863,609			49,059,850			62,308,611
RATIOS
Return on average assets		(.63	)%		(.22	)%		.01	%		(1.01	)%		(.70	)%
Return on average common equity		(6.41	)		(3.02	)		(1.11	)		(11.36	)		(8.30	)
Net interest margin (TE)		4.15			4.15			4.20			4.11			4.05
Average loans to average deposits		90.51			90.96			93.54			95.43			97.10
Efficiency ratio		79.49			80.77			73.71			73.99			77.51
Annualized expenses to average assets		3.83			3.76			3.55			3.51			3.68
Allowance for loan losses to loans, end of period		2.88			2.77			2.66			2.81			2.50
Annualized net charge-offs to average loans		2.65			1.81			2.59			2.86			2.09
Nonperforming assets to loans plus foreclosed
assets and surplus property, end of period		6.73			6.12			5.52			5.34			5.17
Average shareholders' equity to average total assets		14.57			14.45			13.89			12.59			12.53
Tangible common equity to tangible assets,
end of period		8.49			8.38			8.18			6.42			6.42
Leverage ratio, end of period		10.48			10.61			11.05			8.99			9.21
Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.
The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income (excluding securities gains and losses).
The tangible common equity to tangible assets ratio is total shareholders' equity less preferred stock and intangible assets divided by
total assets less intangible assets.

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
DAILY AVERAGE CONSOLIDATED BALANCE SHEETS
	Second			First			Second			Six Months Ended
	Quarter			Quarter			Quarter			June 30
(dollars in thousands)	2010			2010			2009			2010			2009
ASSETS
EARNING ASSETS
Loans	$	8,051,668		$	8,210,283		$	8,945,911		$	8,130,537		$	9,006,994
Investment securities
Securities available for sale		1,858,996			1,838,179			1,712,510			1,848,645			1,696,919
Securities held to maturity		162,363			169,916			194,422			166,119			199,186
Total investment securities		2,021,359			2,008,095			1,906,932			2,014,764			1,896,105
Federal funds sold and short-term investments		213,031			243,123			151,325			227,994			109,589
Loans held for sale		28,103			20,710			58,475			24,427			45,958
Total earning assets		10,314,161			10,482,211			11,062,643			10,397,722			11,058,646
NONEARNING ASSETS
Goodwill and other intangible assets		447,596			449,009			454,799			448,298			455,985
Accrued interest receivable		34,791			36,086			38,562			35,435			39,490
Other assets		941,391			925,851			797,389			933,664			789,701
Allowance for loan losses		(234,789	)		(236,380	)		(213,082	)		(235,580	)		(194,093	)
Total assets	$	11,503,150		$	11,656,777		$	12,140,311		$	11,579,539		$	12,149,729
LIABILITIES
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits	$	1,148,590		$	1,247,118		$	1,149,259		$	1,197,582		$	1,202,528
Money market investment deposits		1,765,839			1,794,820			1,693,473			1,780,249			1,504,768
Savings deposits		868,829			849,006			901,962			858,972			905,055
Other time deposits		728,121			781,806			839,565			754,815			854,971
Time deposits $100,000 and over		1,129,333			1,093,159			1,546,375			1,111,346			1,582,638
Total interest-bearing deposits		5,640,712			5,765,909			6,130,634			5,702,964			6,049,960
Short-term borrowings		624,931			644,838			1,100,222			634,830			1,151,731
Long-term debt		199,751			199,711			199,449			199,731			191,425
Total interest-bearing liabilities		6,465,394			6,610,458			7,430,305			6,537,525			7,393,116
NONINTEREST-BEARING LIABILITIES
Noninterest-bearing deposits		3,255,019			3,260,794			3,082,248			3,257,891			3,116,242
Accrued interest payable		8,910			12,554			16,596			10,722			18,623
Other liabilities		97,359			88,434			90,553			92,921			94,832
Total liabilities		9,826,682			9,972,240			10,619,702			9,899,059			10,622,813
SHAREHOLDERS' EQUITY
Preferred		295,454			295,140			294,186			295,298			294,029
Common		1,381,014			1,389,397			1,226,423			1,385,182			1,232,887
Total shareholders' equity		1,676,468			1,684,537			1,520,609			1,680,480			1,526,916
Total liabilities and shareholders' equity	$	11,503,150		$	11,656,777		$	12,140,311		$	11,579,539		$	12,149,729
EARNING ASSETS LESS
INTEREST-BEARING LIABILITIES	$	3,848,767		$	3,871,753		$	3,632,338		$	3,860,197		$	3,665,530

11

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
			June 30		March 31		December 31		September 30		June 30
(dollars in thousands)			2010		2010		2009		2009		2009
ASSETS
	Cash and due from financial institutions	$	200,075	$	198,912	$	216,347	$	209,523	$	228,452
	Federal funds sold and short-term investments		130,113		256,505		212,219		54,729		58,026
	Loans held for sale		28,470		22,942		33,745		23,826		68,830
	Investment securities
	Securities available for sale		1,915,587		1,877,653		1,875,495		1,821,246		1,749,338
	Securities held to maturity		160,726		164,654		174,945		184,635		193,027
	Total investment securities		2,076,313		2,042,307		2,050,440		2,005,881		1,942,365
	Loans		7,979,371		8,073,498		8,403,443		8,476,989		8,791,840
	Allowance for loan losses		(229,884	)	(223,890	)	(223,671	)	(238,600	)	(219,465	)
	Net loans		7,749,487		7,849,608		8,179,772		8,238,389		8,572,375
	Bank premises and equipment		227,620		226,105		223,142		216,722		213,227
	Goodwill		435,678		435,678		435,678		435,678		435,678
	Other intangible assets		11,284		12,621		14,116		15,850		18,042
	Accrued interest receivable		29,783		33,277		32,841		34,671		34,085
	Other assets		527,938		502,851		493,841		421,199		404,002
	Total assets	$	11,416,761	$	11,580,806	$	$ 11,892,141	$	11,656,468	$	11,975,082
LIABILITIES
	Noninterest-bearing demand deposits	$	3,229,244	$	3,298,095	$	3,301,354	$	$  3,130,426	$	3,081,617
	Interest-bearing deposits		5,589,807		5,663,862		5,848,540		5,749,951		6,062,424
	Total deposits		8,819,051		8,961,957		9,149,894		8,880,377		9,144,041
	Short-term borrowings		599,106		610,344		734,606		991,189		1,014,940
	Long-term debt		199,764		199,722		199,707		199,589		199,626
	Accrued interest payable		9,794		12,598		11,908		14,505		16,886
	Other liabilities		114,880		119,945		114,962		105,377		111,595
	Total liabilities		9,742,595		9,904,566		10,211,077		10,191,037		10,487,088
	SHAREHOLDERS' EQUITY
	Preferred stock		295,608		295,291		294,974		294,657		294,340
	Common stock		2,800		2,800		2,800		2,800		2,800
	Capital surplus		620,111		618,392		617,038		398,069		396,629
	Retained earnings		756,127		779,158		790,481		795,199		829,976
	Accumulated other comprehensive income (loss)		12,217		(6,704	)	(11,532	)	(12,597	)	(23,054	)
	Treasury stock at cost		(12,697	)	(12,697	)	(12,697	)	(12,697	)	(12,697	)
	Total shareholders' equity		1,674,166		1,676,240		1,681,064		1,465,431		1,487,994
	Total liabilities and shareholders' equity               $		11,416,761	$	11,580,806	$	$  11,892,141	$	$  11,656,468	$	$  11,975,082

12

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
	Second			First			Second			Six Months Ended
	Quarter			Quarter			Quarter			June 30
(dollars in thousands, except per share data)	2010			2010			2009			2010			2009
INTEREST INCOME
Interest and fees on loans	$	98,778		$	100,130		$	110,353		$	198,908		$	222,167
Interest and dividends on investments		20,076			20,502			20,457			40,578			41,353
Interest on federal funds sold and
short-term investments		157			179			204			336			382
Total interest income		119,011			120,811			131,014			239,822			263,902
INTEREST EXPENSE
Interest on deposits		10,398			11,420			17,360			21,818			34,866
Interest on short-term borrowings		255			276			570			531			1,848
Interest on long-term debt		2,489			2,486			2,512			4,975			5,001
Total interest expense		13,142			14,182			20,442			27,324			41,715
NET INTEREST INCOME		105,869			106,629			110,572			212,498			222,187
PROVISION FOR CREDIT LOSSES		59,000			37,500			74,000			96,500			139,000
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES		46,869			69,129			36,572			115,998			83,187
NONINTEREST INCOME
Service charges on deposit accounts		8,662			8,482			9,396			17,144			19,232
Bank card fees		6,217			5,674			4,620			11,891			9,007
Trust service fees		3,076			2,908			3,187			5,984			6,153
Secondary mortgage market operations		2,050			1,882			3,091			3,932			4,926
Other noninterest income		11,756			9,301			12,137			21,057			22,379
Securities transactions		-			-			-			-			-
Total noninterest income		31,761			28,247			32,431			60,008			61,697
NONINTEREST EXPENSE
Employee compensation		40,719			39,044			40,868			79,763			79,460
Employee benefits		9,004			11,051			10,485			20,055			21,807
Total personnel		49,723			50,095			51,353			99,818			101,267
Net occupancy		9,706			9,945			9,606			19,651			19,282
Equipment and data processing		6,923			6,594			6,528			13,517			12,882
Legal and other professional services		9,329			5,232			4,639			14,561			9,326
Deposit insurance and regulatory fees		6,491			6,013			9,879			12,504			13,464
Telecommunication and postage		3,022			3,085			2,952			6,107			6,049
Corporate value and franchise taxes		1,588			1,698			2,402			3,286			4,773
Amortization of intangibles		1,337			1,495			2,251			2,832			4,841
Provision for valuation losses on foreclosed assets		3,479			3,088			5,083			6,567			5,800
Nonlegal loan collection and other foreclosed asset costs		2,560			3,173			2,457			5,733			3,716
Other noninterest expense		15,989			19,288			14,657			35,277			27,255
Total noninterest expense		110,147			109,706			111,807			219,853			208,655
Income (loss) before income taxes		(31,517	)		(12,330	)		(42,804	)		(43,847	)		(63,771	)
Income tax expense		(13,524	)		(6,050	)		(21,503	)		(19,574	)		(31,331	)
Net income (loss)	$	(17,993	)	$	(6,280	)	$	(21,301	)	$	(24,273	)	$	(32,440	)
Preferred stock dividends		4,067			4,067			4,067			8,134			8,092
Net income (loss) to common shareholders	$	(22,060	)	$	(10,347	)	$	(25,368	)	$	(32,407	)	$	(40,532	)
EARNINGS (LOSS) PER COMMON SHARE
Basic	$	(.23	)	$	(.11	)	$	(.38	)	$	(.34	)	$	(.60	)
Diluted		(.23	)		(.11	)		(.38	)		(.34	)		(.60	)
WEIGHTED-AVERAGE COMMON
SHARES OUTSTANDING
Basic		96,538,261			96,534,425			67,484,913			96,563,354			67,475,259
Diluted		96,538,261			96,534,425			67,484,913			96,563,354			67,475,259
CASH DIVIDENDS PER COMMON SHARE	$	.01		$	.01		$	.01		$	.02		$	.02

13

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
SUMMARY OF INTEREST RATES (TAX-EQUIVALENT)*
	Second			First			Second			Six Months Ended
	Quarter			Quarter			Quarter			June 30
	2010			2010			2009			2010			2009
EARNING ASSETS
Loans**		4.91	%		4.93	%		4.92	%		4.92	%		4.96	%
Investment securities		4.15			4.26			4.51			4.20			4.59
Federal funds sold and short-term investments		.30			.30			.54			.30			.70
Total interest-earning assets		4.66	%		4.70	%		4.79	%		4.68	%		4.85	%
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits		.35	%		.36	%		.37	%		.36	%		.37	%
Money market investment deposits		.74			.82			1.10			.78			.92
Savings deposits		.15			.15			.16			.15			.16
Other time deposits		1.31			1.39			2.14			1.35			2.31
Time deposits $100,000 and over		1.22			1.37			1.77			1.29			1.94
Total interest-bearing deposits		.74	%		.80	%		1.14	%		.77	%		1.16	%
Short-term borrowings		.16			.17			.21			.17			.32
Long-term debt		4.98			4.98			5.04			4.98			5.23
Total interest-bearing liabilities		.81	%		.87	%		1.10	%		.84	%		1.14	%
NET INTEREST SPREAD (tax-equivalent)
Yield on earning assets less cost of interest-
bearing liabilities		3.85	%		3.83	%		3.69	%		3.84	%		3.71	%
NET INTEREST MARGIN (tax-equivalent)
Net interest income (tax equivalent) as a
percentage of average earning assets		4.15	%		4.15	%		4.05	%		4.15	%		4.09	%
COST OF FUNDS
Interest expense as a percentage of average interest-
bearing liabilities plus interest-free funds		.51	%		.55	%		.74	%		.53	%		.76	%
*   Based on a 35% tax rate.
** Net of unearned income, before deducting the allowance for loan losses and including loans
held for sale and loans accounted for on a nonaccrual basis.

14

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN QUALITY
	Second			First			Second			Six Months Ended
	Quarter			Quarter			Quarter			June 30
(dollars in thousands)	2010			2010			2009			2010			2009
ALLOWANCE FOR LOAN LOSSES
Allowance at beginning of period	$	223,890		$	223,671		$	194,179		$	223,671		$	161,109
Provision for credit losses		59,300			37,300			72,000			96,600			137,000
Loans charged off		(57,948	)		(39,987	)		(48,544	)		(97,935	)		(82,373	)
Recoveries on loans previously charged off		4,642			2,906			1,830			7,548			3,729
Net loans charged off		(53,306	)		(37,081	)		(46,714	)		(90,387	)		(78,644	)
Allowance at end of period	$	229,884		$	223,890		$	219,465		$	229,884		$	219,465
Allowance for loan losses as a percentage of
loans, at end of period		2.88	%		2.77	%		2.50	%		2.88	%		2.50	%
Annualized net charge-offs as a percentage
of average loans		2.65			1.81			2.09			2.22			1.75
Annualized gross charge-offs as a percentage of
average loans		2.88			1.95			2.17			2.41			1.83
Recoveries as a percentage of gross charge-offs		8.01			7.27			3.77			7.71			4.53
RESERVE FOR LOSSES ON
UNFUNDED CREDIT COMMITMENTS
Reserve at beginning of period	$	2,400		$	2,200		$	800		$	2,200		$	800
Provision for credit losses		(300	)		200			2,000			(100	)		2,000
Reserve at end of period	$	2,100		$	2,400		$	2,800		$	2,100		$	2,800
	June 30			March 31			December 31			September 30			June 30
(dollars in thousands)	2010			2010			2009			2009			2009
NONPERFORMING ASSETS
Loans accounted for on a nonaccrual basis	$	451,405		$	436,680		$	414,075		$	405,852		$	413,174
Restructured loans accruing		-			-			-			-			-
Total nonperforming loans		451,405			436,680			414,075			405,852			413,174
Foreclosed assets and surplus property		91,506			60,879			52,630			49,737			43,625
Total nonperforming assets	$	542,911		$	497,559		$	466,705		$	455,589		$	456,799
Loans 90 days past due still accruing	$	10,539		$	17,591		$	23,386		$	15,077		$	20,364
Nonperforming assets as a percentage of loans
plus foreclosed assets and surplus property,
at end of period		6.73	%		6.12	%		5.52	%		5.34	%		5.17	%
Allowance for loan losses as a percentage of
nonperforming loans, at end of period		50.93			51.27			54.02			58.79			53.12
Loans 90 days past due still accruing as a
percentage of loans, at end of period		.13			.22			.28			.18			.23

15

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN PORTFOLIO DETAIL
LOAN PORTFOLIO AT QUARTER-END
		2010		2009
(dollars in millions)		June	March	December	September	June
Commercial, financial & agricultural		$2,895	$2,869	$3,075	$3,064	$3,258
Owner-occupied real estate		1,053	1,069	1,080	1,057	1,077
Total commercial & industrial		3,948	3,938	4,155	4,121	4,335
Commercial real estate:
Construction, land & land development		1,396	1,479	1,537	1,702	1,779
CRE - other		1,197	1,217	1,246	1,220	1,235
Total commercial real estate		2,593	2,696	2,783	2,922	3,014
Residential mortgage		1,007	1,015	1,035	1,011	1,028
Consumer		431	424	430	423	415
Total loans		$7,979	$8,073	$8,403	$8,477	$8,792
GEOGRAPHIC DISTRIBUTION OF LOAN PORTFOLIO AT JUNE 30, 2010
				Alabama/		Percent
(dollars in millions)	Louisiana	Texas	Florida	Mississippi	Total	of total
Commercial, financial & agricultural	$2,150	$410	$113	$222	$2,895	36%
Owner-occupied real estate	654	121	189	89	1,053	13%
Total commercial & industrial	2,804	531	302	311	3,948	49%
Commercial real estate:
Construction, land & land development	446	440	298	212	1,396	18%
CRE - other	585	154	324	134	1,197	15%
Total commercial real estate	1,031	594	622	346	2,593	33%
Residential mortgage	555	149	178	125	1,007	13%
Consumer	296	21	70	44	431	5%
Total	$4,686	$1,295	$1,172	$826	$7,979	100%
Percent of total	59%	16%	15%	10%	100%
CLASSIFIED LOANS AT JUNE 30, 2010
						Percent
						of loan
				Alabama/		category
(dollars in millions)	Louisiana	Texas	Florida	Mississippi	Total	total
Commercial, financial & agricultural	$   72	$   29	$   11	$   14	$   126	4%
Owner-occupied real estate	53	15	43	19	130	12%
Total commercial & industrial	125	44	54	33	256	6%
Commercial real estate:
Construction, land & land development	32	111	121	38	302	22%
CRE - other	41	39	98	24	202	17%
Total commercial real estate	73	150	219	62	504	19%
Residential mortgage	40	7	50	17	114	11%
Consumer	4	1	5	2	12	3%
Total	$242	$202	$328	$114	$886	11%
Percent of regional loan total	5%	16%	28%	14%	11%

2Q10 Supplemental Data
July 27, 2010

2

2

Commercial and Business Banking Focus

Loan mix

Note: Financial data as of June 30, 2010

Geographic Distribution

C&I

CRE

3

3

CRE: Construction, Land & Land Development Loans

Note: Financial data as of June 30, 2010

($s in millions)	Louisiana	Texas	Florida	Alabama/ Mississippi	Total
Residential construction	$68	$52	$30	$17	$167
Land & Lots:
Residential	145	24	115	69	353
Commercial	118	83	62	52	315
Retail	28	134	13	17	192
Office Buildings	12	35	23	1	71
Hotel/motel	--	--	28	--	28
Multifamily	22	72	--	21	115
Industrial/ warehouse	13	7	2	5	27
Other	40	33	25	30	128
Total	$446	$440	$298	$212	$1,396

4

4

CRE: Other Commercial Real Estate Loans

Note: Financial data as of June 30, 2010

($s in millions)	Louisiana	Texas	Florida	Alabama/ Mississippi	Total
Retail	$174	$76	$86	$34	$370
Office Buildings	104	19	60	30	213
Hotel/motel	122	4	53	23	202
Multifamily	71	38	40	27	176
Industrial/ warehouse	57	14	52	13	136
Other	57	3	33	7	100
Total	$585	$154	$324	$134	$1,197

C&I: Oil & Gas Portfolio

•Oil and gas
portfolio 10%
of total loans

•Currently
expect
minimal near-
term impact
from oil spill
in the Gulf

5

Sector	$ Outstanding	% of Total
Exploration & Production	$262	34%
Drilling & Pre-drilling	$165	22%
Transportation	$152	20%
Service & Supply	$151	20%
Other	$32	4%
Total	$762	100%

$s in millions

Note: Financial data as of June 30, 2010

6

6

Summary Credit Statistics

NCOs/avg. loans

Allowance for loan losses/loans

NPAs/loans + OREO

Reserves/NPLs

Note: Financial data as of June 30, 2010

7

7

Classified Portfolio By Geograaphy

NPLs are included in total classified portfolio

Note: Financial data as of June 30, 2010

8

Classified To Total Loans By Geography

$s in millions	Louisiana	Texas	Florida	Alabama/ Mississippi	Total	% of Total
C&I	125	44	54	33	256	29%
% Classified to Total Loans	4%	8%	18%	11%	7%
CRE	73	150	219	62	504	57%
% Classified to Total Loans	7%	25%	35%	18%	19%
Residential Mortgage	40	7	50	17	114	13%
% Classified to Total Loans	7%	5%	28%	14%	11%
Consumer	4	1	5	2	12	1%
% Classified to Total Loans	1%	5%	7%	5%	3%
Total Classified Loans	$242	$202	$328	$114	$886	100%
% of Portfolio Classified	5%	16%	28%	14%	11%

Note: Financial data as of June 30, 2010

Classified loans include: Substandard and Doubtful

9

Special Mention (OAEM) To Total Loans By Geography

$s in millions	Louisiana	Texas	Florida	Alabama/ Mississippi	Total	% of Total
C&I	13	32	18	2	65	25%
% OAEM to Total Loans	--%	6%	6%	1%	2%
CRE	6	102	56	19	183	69%
% OAEM to Total Loans	1%	17%	9%	6%	7%
Residential Mortgage	5	2	6	2	15	6%
% OAEM to Total Loans	1%	1%	3%	1%	1%
Consumer	3	-	-	-	3	-%
% OAEM to Total Loans	1%	-%	-%	-%	1%
Total OAEM Loans	$27	$136	$80	$23	$266	100%
% of Portfolio OAEM	1%	10%	7%	3%	3%

Note: Financial data as of June 30, 2010

10

10

Construction, Land & Land Development Classified Loans

Note: Financial data as of June 30, 2010

($s in millions)	Louisiana	Texas	Florida	Alabama/ Mississippi	Total	% of Portfolio Total
Residential construction	$4	$11	$14	$1	$30	18%
Land & Lots:
Residential	16	15	54	24	109	31%
Commercial	8	31	32	5	76	24%
Retail	--	30	7	--	37	19%
Office Buildings	4	7	6	--	17	24%
Hotel/motel	--	--	--	--	--	--
Multifamily	--	15	--	--	15	13%
Industrial/ warehouse	--	--	--	--	--	--
Other	2	--	7	7	16	12%
Total	$34	$111	$120	$37	$302	21%

11

11

Other Commercial Real Estate Classified Loans

Note: Financial data as of June 30, 2010

($s in millions)	Louisiana	Texas	Florida	Alabama/ Mississippi	Total	% of Portfolio Total
Retail	$3	$18	$22	$12	$55	15%
Office Buildings	4	--	8	4	16	8%
Hotel/motel	16	--	17	--	33	16%
Multifamily	12	21	24	3	60	34%
Industrial/ warehouse	5	--	24	5	34	25%
Other	--	--	4	--	4	4%
Total	$40	$39	$99	$24	$202	17%

12

•Cumulative charge-offs and the current impaired loss
allowance on the impaired loans represented
approximately 37% of the original contractual
principal balances on these credits

Note: Data as of June 30, 2010

13

Impaired Breakdown By State

Impaired loans ($s in millions)	Current Balance Outstanding (Book Value)	% Charged-Off To-Date of Contractual Balance	% Currently Reserved to Current Book Value
Florida	$198	37%	14%
Alabama/ Mississippi	40	29%	11%
Louisiana	70	13%	11%
Texas	68	9%	10%
Total impaired	$376	28%	12%

Note: Financial data as of June 30, 2010

Percents are not additive. Cumulative charge-offs and the current impaired loss allowance on the
total impaired portfolio represented approximately 37% of the original contractual principal
balances on these credits.

	LA	TX	FL	AL/ MS
Loans	$4,686	$1,296	$1,172	$826
Nonperforming Loans (NPLs)	$93	$73	$235	$50
NPLs/Loans	2%	6%	20%	6%

14

14

Performing As Expected In Current Economic Conditions

Geographic distribution of loan portfolio

Geographic distribution of NPLs

Note: Financial data as of June 30, 2010

($s in millions)

15

15

ALLL Mainly For Florida Portfolio

Note: Financial data as of June 30, 2010

16

16

Charge-Offs Mainly From Florida Portfolio

Gross Charge-offs by
Geography: 2Q10

Note: Financial data as of June 30, 2010

FL

17

17

Allowance for Loan Losses Remains Solid

2Q10 Supplemental Data
July 27, 2010