Ex. 99.1

WHITNEY HOLDING CORPORATION

228 ST. CHARLES AVENUE

NEW ORLEANS, LA  70130

www.whitneybank.com

NEWS RELEASE

CONTACT:	Thomas L. Callicutt, Jr.	FOR IMMEDIATE RELEASE
	Trisha Voltz Carlson	October 16, 2008
	504/299-5208
	tcarlson@whitneybank.com

WHITNEY REPORTS THIRD QUARTER 2008 EARNINGS

New Orleans, Louisiana.  Whitney Holding Corporation (NASDAQ—WTNY) earned $7.0 million in the quarter ended September 30, 2008, compared with net income of $12.9 million for the second quarter of 2008 and $48.8 million for 2007’s third quarter.  Earnings were $.11 per diluted share for the third quarter of 2008, $.20 for the current year’s second quarter and $.71 for the third quarter of 2007.  The results for the third quarter of 2008 include casualty losses and expenses from Hurricanes Gustav and Ike totaling $2.1 million ($1.3 million after-tax, or $.02 per diluted share for the quarter.)   During the third quarter of 2007, Whitney reached a settlement on insurance claims arising from the hurricanes that struck portions of its market area in the late summer of 2005.  With this settlement, the Company recognized a gain of $31.3 million ($19.9 million after-tax, or $.29 per diluted share for the quarter.)

“As we noted in our preliminary release on third quarter results, earnings continue to be impacted by the fragile economy and real estate valuation issues, particularly in Florida,” said John C. Hope, III, Chairman and CEO.  “While we are disappointed in the need for another large provision, we were pleased to see continued balance sheet strength through quarterly loan growth, stable noninterest-bearing deposits, a stable net interest margin and a strong level of capital.”

“Given the strong level of capital, we have been able to continue to reward our shareholders and pay our quarterly dividend,” said Hope.  “We are well-capitalized and intend to remain so.  However, we are prepared to reconsider our dividend payout if credit problems persist.  Information continues to become available about the government relief package for financial institutions

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announced earlier this week that will allow us to evaluate possible opportunities available to the Company that would be in the long-term best interest of our shareholders.”

“Today we are focused on addressing credit issues while continuing to be a source of strength and stability for our customers --- just as Whitney has done for the past 125 years,” said Hope.  “We are addressing the challenges present in the current environment and, as you can see from our results, we are still making some money, we are still well-capitalized, we have sufficient levels of liquidity and we are continuing to implement our strategic plan.”

HIGHLIGHTS OF THIRD QUARTER FINANCIAL RESULTS

Loans and Earning Assets

Loans totaled $8.1 billion at the end of the third quarter of 2008, which was up 8%, or $625 million, from September 30, 2007, and up 1%, or $115 million, from the end of 2008’s second quarter.    Loans comprised 81% of average earning assets in the third quarter of 2008, up from 76% in the year-earlier period and 79% in the second quarter of 2008.  Loan demand from Whitney’s Houston, Texas market, was the major contributor to the loan growth from the second quarter of 2008.

Deposits and Funding

Average deposits in the third quarter of 2008 were stable compared to the second quarter of 2008, while deposits at quarter end were down 3% from June 30, 2008.  Noninterest-bearing deposits for the current quarter were up about 1% on both an average and end-of-period basis from the second quarter of 2008.  These demand deposits funded approximately 28% of average earning assets for the period and the percentage of funding from all noninterest-bearing sources totaled 31% in the third quarter of 2008, which was down slightly from 2008’s second quarter.  Higher-cost interest-bearing funds, which include time deposits and borrowings, funded 37% of average earning assets in 2008’s third quarter, up slightly from the second quarter of 2008.

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Net Interest Income

Net interest income (TE) for the third quarter of 2008 was essentially unchanged from the second quarter of 2008.  Both average earning assets and the net interest margin were relatively stable between these periods.  The funding mix shifted further toward higher-cost sources between these periods, mainly from additional short-term borrowings and public funds time deposits.

Whitney’s net interest income (TE) for the third quarter of 2008 decreased  5% compared to the third quarter of 2007.  Average earning assets were up 1% between these periods, and the mix of assets shifted fairly strongly in favor of loans.  The net interest margin (TE) was down 29 basis points from the year-earlier period, mainly reflecting the steep reduction in benchmark rates for the large variable-rate segment of Whitney’s loan portfolio toward the end of 2007 that continued into 2008.  The rates on approximately 31% of the loan portfolio at September 30, 2008 were tied to changes in Libor benchmarks, with another 25% tied to prime.  The reduction in funding costs from declining market rates was partially offset by the impact of a shift toward higher-cost funding sources between these periods.

Provision for Credit Losses and Credit Quality

Whitney provided $40.0 million for credit losses in the third quarter of 2008, compared to $35.0 million in 2008’s second quarter and a $9.0 million provision in the third quarter of 2007.  Net loan charge-offs in 2008’s third quarter were $24.5 million or 1.22% of average loans on an annualized basis, compared to $16.9 million in the second quarter of 2008 and $2.4 million in the third quarter of 2007.  The allowance for loan losses increased $15.5 million during the current quarter and represented 1.55% of total loans at September 30, 2008, up from 1.38% at the end of 2008’s second quarter and 1.10% a year earlier.

Continuing weaknesses in the residential real estate markets, primarily in Florida and coastal Alabama, accounted for approximately $25 million of the provision and approximately $11 million of the gross charge-offs for the third quarter of 2008, mainly related to loans for residential development.   Problem commercial and industrial (C&I) credits added approximately $5 million to the provision for the third quarter of 2008 and accounted for approximately $10 million of charge-offs for the period.  Management added approximately $4 million to the allowance and provision based on its regular assessment of current economic conditions and other qualitative factors.  The quarterly provision also included approximately $4 million related to charge-offs on consumer and other smaller credits and $1 million associated with changes in noncriticized credits.

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The total of loans criticized through the Company’s credit risk-rating process was $586 million at September 30, 2008, which represented 7% of total loans and a net increase of $121 million from June 30, 2008.  The increase was largely concentrated in loans for residential development, the majority of which were from the Florida and Alabama markets.  Included in the criticized loan total at September 30, 2008 were $235 million of nonperforming loans, up a net $88 million from June 30, 2008.  Total foreclosed assets and surplus property increased to $19.6 million at September 30, 2008, up from $14.5 million at June 30, 2008, mainly related to residential development and investment properties as well as some surplus land originally intended for a branch site.

Noninterest Income

Excluding the insurance settlement gain in the third quarter of 2007 that was noted earlier, noninterest income for 2008’s third quarter increased 10%, or $2.3 million, from the year-earlier period.  Deposit service charge income in the third quarter of 2008 was up 5%, or $.4 million, aided mainly by reduced earnings credits allowed on certain commercial deposit accounts.  Fee income from Whitney’s secondary mortgage market operations decreased 18% reflecting difficult financial and housing market conditions.  The categories comprising other noninterest income, excluding the insurance settlement gain, increased a combined $2.1 million compared to the third quarter of 2007, with positive contributions from most recurring revenue sources, including $1.6 million of earnings on the $150 million of life insurance policies purchased under a program implemented in late May 2008.

Noninterest income decreased 3%, or $.7 million, compared to 2008’s second quarter.  There were small declines in most recurring revenue sources, other than from the life insurance program, most of which can be at least partly attributed to recent financial and credit market conditions and overall economic conditions.  Net gains on sales of and other revenue from grandfathered assets were down $.3 million from the $.6 million total recognized in the second quarter of 2008.

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Noninterest Expense

Noninterest expense in the third quarter of 2008 increased 1%, or $1.3 million, from 2007’s third quarter.  The current year’s period included $2.1 million for uninsured casualty losses and expenses arising from Hurricanes Gustav and Ike that struck parts of the Company’s market area in September.

Whitney’s personnel expense decreased 2%, or $1.0 million, between these periods, primarily due to a decrease in compensation associated with management incentive programs and the impact of a 3% reduction in the average full-time equivalent staff level.

Net occupancy expense increased 6%, or $.5 million, compared to the third quarter of 2007.  Increased expenses related to de novo branch expansion, higher energy costs and nonrecurring or periodic facility repairs were partly offset by a reduction in the cost of insurance.  Equipment and data processing expense increased 6%, or $.3 million, driven in part by the cost of new customer-oriented applications associated with strategic initiatives and by branch expansion.  The $.3 million reduction in telecommunication and postage expense mainly reflected the elimination of some redundant communication services used during an upgrade project in 2007.  Legal and other professional fees and other noninterest expense were impacted by higher costs associated with problem loan collection efforts.  Other noninterest expense in the third quarter of 2008 also included the $2.1 million storm-related item mentioned earlier and increased deposit insurance expense with the change to the new assessment system in 2008.

Excluding storm-related items, noninterest expense for 2008’s third quarter was up 2%, or $1.9 million, compared to the second quarter of 2008.  Personnel expense increased $.9 million, although this was mainly related to a reduction in share-based compensation in the second quarter of 2008 that resulted from a periodic reassessment of multi-year performance estimates.  Net occupancy expense was up $.7 million on nonrecurring repair costs and seasonal increases in energy costs.  Increased loan collection efforts impacted both legal and other professional services and the other noninterest expense categories.  Deposit insurance expense was up $.6 million after the one-time credit granted in connection with the new assessment system was fully utilized in the second quarter of 2008.

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Capital

Regulatory capital ratios at September 30, 2008 remained well above those required for the Company and Whitney National Bank to be considered well-capitalized institutions.  The Company’s tangible common equity ratio was 7.89% at the end of 2008’s third quarter which was stable with the ratio at June 30, 2008, but down from 8.24% at year-end 2007.  Whitney’s regulatory leverage ratio was 8.14% at September 30, 2008 compared to 8.27% at the end of the second quarter of 2008 and 8.79% at December 31, 2007.  The decline in the ratios from the end of 2007 reflected the completion of a share repurchase program and a dividend payout in excess of earnings over this period.

Conference Call and Additional Financial Information

Management will host a conference call today at 3:30 p.m. CT to review third quarter 2008 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 (800) 753-0420 or (913) 312-9330.  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 October 22, 2008 by dialing (888) 203-1112 or (719) 457-0820, passcode 2427618.

This earnings release, including additional financial tables related to third quarter 2008 results, is posted in the Investor Relations section of the Company's web site at http://investor.whitneybank.com/releases.cfm?ReleasesType=Earnings&Year=2008. 

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.

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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.  Forward-looking statements 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 future dividend payments, capital adequacy and capital ratios, allowance for loan losses and credit quality trends.

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 the Company’s forward-looking statements include, but are not limited to, those 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)

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS
	Third			Third			Nine Months Ended
	Quarter			Quarter			September 30
(dollars in thousands, except per share data)	2008			2007			2008			2007
INCOME DATA
Net interest income	$	111,435		$	116,718		$	336,105		$	348,455
Net interest income (tax-equivalent)		112,601			118,245			339,760			353,086
Provision for credit losses		40,000			9,000			89,000			7,000
Noninterest income		25,472			54,455			80,122			102,601
Net securities gains in noninterest income		67			(1	)		67			(1	)
Noninterest expense		89,549			88,229			259,068			263,334
Net income		7,048			48,766			49,777			120,810
QUARTER-END BALANCE SHEET DATA
Loans	$	8,077,775		$	7,452,905		$	8,077,775		$	7,452,905
Investment securities		1,812,025			1,875,096			1,812,025			1,875,096
Earning assets		9,943,868			9,738,123			9,943,868			9,738,123
Total assets		10,987,447			10,604,834			10,987,447			10,604,834
Noninterest-bearing deposits		2,809,923			2,639,020			2,809,923			2,639,020
Total deposits		8,054,431			8,387,235			8,054,431			8,387,235
Shareholders' equity		1,183,001			1,253,809			1,183,001			1,253,809
AVERAGE BALANCE SHEET DATA
Loans	$	8,007,507		$	7,362,491		$	7,853,872		$	7,278,450
Investment securities		1,853,581			1,916,927			1,997,942			1,865,161
Earning assets		9,892,165			9,746,184			9,922,077			9,562,005
Total assets		10,902,329			10,633,674			10,846,118			10,443,686
Noninterest-bearing deposits		2,771,101			2,686,189			2,722,253			2,718,156
Total deposits		8,230,249			8,480,098			8,275,705			8,394,819
Shareholders' equity		1,192,535			1,224,940			1,211,902			1,193,984
PER SHARE DATA
Earnings per share
Basic	$	.11		$	.72		$	.77		$	1.80
Diluted		.11			.71			.76			1.78
Cash dividends per share	$	.31		$	.29		$	.93		$	.87
Book value per share, end of period	$	18.49		$	18.53		$	18.49		$	18.53
Tangible book value per share, end of period	$	13.13		$	13.35		$	13.13		$	13.35
Trading data
High sales price	$	33.02		$	30.32		$	33.02		$	33.26
Low sales price		13.96			23.02			13.96			23.02
End-of-period closing price		24.25			26.38			24.25			26.38
Trading volume		72,540,716			28,674,777			171,546,268			57,966,204
RATIOS
Return on average assets		.26	%		1.82	%		.61	%		1.55	%
Return on average shareholders' equity		2.35			15.79			5.49			13.53
Net interest margin		4.53			4.82			4.57			4.93
Dividend payout ratio		285.63			40.70			120.98			49.02
Average loans as a percentage of average deposits		97.29			86.82			94.90			86.70
Efficiency ratio		64.89			51.09			61.71			57.79
Allowance for loan losses as a percentage of
loans, end of period		1.55			1.10			1.55			1.10
Annualized net charge-offs (recoveries) as a
percentage of average loans		1.22			.13			.87			.08
Nonperforming assets as a percentage of loans
plus foreclosed assets and surplus
property, end of period		3.15			1.22			3.15			1.22
Average shareholders' equity as a percentage
of average total assets		10.94			11.52			11.17			11.43
Tangible common equity as a percentage of
tangible assets, end of period		7.89			8.81			7.89			8.81
Leverage ratio, end of period		8.14			9.19			8.14			9.19
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).

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
QUARTERLY TRENDS
	Third			Second			First			Fourth			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
(dollars in thousands, except per share data)	2008			2008			2008			2007			2007
INCOME DATA
Net interest income	$	111,435		$	111,125		$	113,545		$	116,336		$	116,718
Net interest income (tax-equivalent)		112,601			112,344			114,815			117,782			118,245
Provision for credit losses		40,000			35,000			14,000			10,000			9,000
Noninterest income		25,472			26,174			28,476			24,080			54,455
Net securities gains in noninterest income		67			-			-			-			(1	)
Noninterest expense		89,549			85,590			83,929			85,774			88,229
Net income		7,048			12,874			29,855			30,244			48,766
QUARTER-END BALANCE SHEET DATA
Loans	$	8,077,775		$	7,962,543		$	7,723,508		$	7,585,701		$	7,452,905
Investment securities		1,812,025			1,955,692			2,131,446			1,985,237			1,875,096
Earning assets		9,943,868			9,955,091			9,882,369			10,122,071			9,738,123
Total assets		10,987,447			11,016,323			10,781,912			11,027,264			10,604,834
Noninterest-bearing deposits		2,809,923			2,773,086			2,724,396			2,740,019			2,639,020
Total deposits		8,054,431			8,266,880			8,295,298			8,583,789			8,387,235
Shareholders' equity		1,183,001			1,183,078			1,214,425			1,228,736			1,253,809
AVERAGE BALANCE SHEET DATA
Loans	$	8,007,507		$	7,866,942		$	7,685,478		$	7,542,040		$	7,362,491
Investment securities		1,853,581			2,025,397			2,116,433			1,979,044			1,916,927
Earning assets		9,892,165			9,929,683			9,944,709			9,857,897			9,746,184
Total assets		10,902,329			10,838,912			10,796,496			10,716,391			10,633,674
Noninterest-bearing deposits		2,771,101			2,747,125			2,647,995			2,679,261			2,686,189
Total deposits		8,230,249			8,220,223			8,377,141			8,406,547			8,480,098
Shareholders' equity		1,192,535			1,213,461			1,229,921			1,257,220			1,224,940
PER SHARE DATA
Earnings per share
Basic	$	.11		$	.20		$	.46		$	.45		$	.72
Diluted		.11			.20			.45			.45			.71
Cash dividends per share	$	.31		$	.31		$	.31		$	.29		$	.29
Book value per share, end of period	$	18.49		$	18.51		$	18.90		$	18.67		$	18.53
Tangible book value per share, end of period	$	13.13		$	13.12		$	13.51		$	13.37		$	13.35
Trading data
High sales price	$	33.02		$	26.32		$	27.49		$	28.35		$	30.32
Low sales price		13.96			17.85			21.12			22.46			23.02
End-of-period closing price		24.25			18.30			24.79			26.15			26.38
Trading volume		72,540,716			53,522,061			45,483,491			30,514,264			28,674,777
RATIOS
Return on average assets		.26	%		.48	%		1.11	%		1.12	%		1.82	%
Return on average shareholders' equity		2.35			4.27			9.76			9.54			15.79
Net interest margin		4.53			4.54			4.64			4.75			4.82
Dividend payout ratio		285.63			155.49			67.23			64.16			40.70
Average loans as a percentage of average deposits		97.29			95.70			91.74			89.72			86.82
Efficiency ratio		64.89			61.79			58.57			60.46			51.09
Allowance for loan losses as a percentage of
loans, end of period		1.55			1.38			1.19			1.16			1.10
Annualized net charge-offs (recoveries) as a
percentage of average loans		1.22			.86			.53			.21			.13
Nonperforming assets as a percentage of loans
plus foreclosed assets and surplus
property, end of period		3.15			2.03			1.96			1.64			1.22
Average shareholders' equity as a percentage
of average total assets		10.94			11.20			11.39			11.73			11.52
Tangible common equity as a percentage of
tangible assets, end of period		7.89			7.86			8.32			8.24			8.81
Leverage ratio, end of period		8.14			8.27			8.45			8.79			9.19
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).

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
DAILY AVERAGE CONSOLIDATED BALANCE SHEETS
	Third			Third			Nine Months Ended
	Quarter			Quarter			September 30
(dollars in thousands)	2008			2007			2008			2007
ASSETS
EARNING ASSETS
Loans	$	8,007,507		$	7,362,491		$	7,853,872		$	7,278,450
Investment securities
Securities available for sale		1,601,202			1,645,979			1,725,933			1,593,250
Securities held to maturity		252,379			270,948			272,009			271,911
Total investment securities		1,853,581			1,916,927			1,997,942			1,865,161
Federal funds sold and short-term investments		21,681			445,225			56,276			397,579
Loans held for sale		9,396			21,541			13,987			20,815
Total earning assets		9,892,165			9,746,184			9,922,077			9,562,005
NONEARNING ASSETS
Goodwill and other intangible assets		343,720			351,965			345,471			345,850
Accrued interest receivable		40,731			49,505			43,228			48,458
Other assets		736,862			562,606			633,122			565,238
Allowance for loan losses		(111,149	)		(76,586	)		(97,780	)		(77,865	)
Total assets	$	10,902,329		$	10,633,674		$	10,846,118		$	10,443,686
LIABILITIES
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits	$	1,013,472		$	1,000,496		$	1,065,852		$	1,035,871
Money market investment deposits		1,193,546			1,238,855			1,221,660			1,219,333
Savings deposits		932,454			910,828			918,024			929,899
Other time deposits		722,900			863,651			754,403			821,240
Time deposits $100,000 and over		1,596,776			1,780,079			1,593,513			1,670,320
Total interest-bearing deposits		5,459,148			5,793,909			5,553,452			5,676,663
Short-term borrowings		1,202,585			631,189			1,072,588			606,161
Long-term debt		156,962			168,754			159,744			125,713
Total interest-bearing liabilities		6,818,695			6,593,852			6,785,784			6,408,537
NONINTEREST-BEARING LIABILITIES
Noninterest-bearing deposits		2,771,101			2,686,189			2,722,253			2,718,156
Accrued interest payable		19,039			28,923			21,640			23,922
Other liabilities		100,959			99,770			104,539			99,087
Total liabilities		9,709,794			9,408,734			9,634,216			9,249,702
SHAREHOLDERS' EQUITY		1,192,535			1,224,940			1,211,902			1,193,984
Total liabilities and shareholders' equity	$	10,902,329		$	10,633,674		$	10,846,118		$	10,443,686
EARNING ASSETS LESS
INTEREST-BEARING LIABILITIES	$	3,073,470		$	3,152,332		$	3,136,293		$	3,153,468

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WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
	September 30			December 31			September 30
(dollars in thousands)	2008			2007			2007
ASSETS
Cash and due from financial institutions	$	296,143		$	290,199		$	243,327
Federal funds sold and short-term investments		46,117			534,558			391,437
Loans held for sale		7,951			16,575			18,685
Investment securities
Securities available for sale		1,565,459			1,698,795			1,601,895
Securities held to maturity		246,566			286,442			273,201
Total investment securities		1,812,025			1,985,237			1,875,096
Loans		8,077,775			7,585,701			7,452,905
Allowance for loan losses		(125,370	)		(87,909	)		(82,135	)
Net loans		7,952,405			7,497,792			7,370,770
Bank premises and equipment		183,669			190,095			186,256
Goodwill		331,295			331,295			331,295
Other intangible assets		11,626			17,103			19,247
Accrued interest receivable		37,592			44,860			50,334
Other assets		308,624			119,550			118,387
Total assets	$	10,987,447		$	11,027,264		$	10,604,834
LIABILITIES
Noninterest-bearing demand deposits	$	2,809,923		$	2,740,019		$	2,639,020
Interest-bearing deposits		5,244,508			5,843,770			5,748,215
Total deposits		8,054,431			8,583,789			8,387,235
Short-term borrowings		1,465,857			910,019			654,636
Long-term debt		156,907			165,455			168,683
Accrued interest payable		18,457			27,079			28,924
Other liabilities		108,794			112,186			111,547
Total liabilities		9,804,446			9,798,528			9,351,025
SHAREHOLDERS' EQUITY
Common stock, no par value		2,800			2,800			2,800
Capital surplus		412,163			408,266			403,666
Retained earnings		875,347			885,792			874,954
Accumulated other comprehensive income (loss)		(12,437	)		(18,803	)		(27,541	)
Treasury stock at cost		(94,872	)		(49,319	)		(70	)
Total shareholders' equity		1,183,001			1,228,736			1,253,809
Total liabilities and shareholders' equity	$	10,987,447		$	11,027,264		$	10,604,834

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12

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
	Third		Third			Nine Months Ended
	Quarter		Quarter			September 30
(dollars in thousands, except per share data)	2008		2007			2008		2007
INTEREST INCOME
Interest and fees on loans	$	116,501	$	141,448		$	358,973	$	415,877
Interest and dividends on investments		21,823		22,233			69,334		63,864
Interest on federal funds sold and
short-term investments		115		5,764			1,495		15,557
Total interest income		138,439		169,445			429,802		495,298
INTEREST EXPENSE
Interest on deposits		19,393		43,798			71,189		122,641
Interest on short-term borrowings		5,259		6,363			15,323		18,501
Interest on long-term debt		2,352		2,566			7,185		5,701
Total interest expense		27,004		52,727			93,697		146,843
NET INTEREST INCOME		111,435		116,718			336,105		348,455
PROVISION FOR CREDIT LOSSES		40,000		9,000			89,000		7,000
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES		71,435		107,718			247,105		341,455
NONINTEREST INCOME
Service charges on deposit accounts		8,252		7,882			24,893		22,550
Bank card fees		4,452		4,344			13,024		12,178
Trust service fees		3,189		3,244			9,964		9,615
Secondary mortgage market operations		1,063		1,295			3,559		3,707
Other noninterest income		8,449		37,691			28,615		54,552
Securities transactions		67		(1	)		67		(1	)
Total noninterest income		25,472		54,455			80,122		102,601
NONINTEREST EXPENSE
Employee compensation		39,456		40,582			115,908		119,911
Employee benefits		8,547		8,414			26,547		25,453
Total personnel		48,003		48,996			142,455		145,364
Net occupancy		9,177		8,666			26,309		25,546
Equipment and data processing		6,048		5,710			18,510		17,200
Telecommunication and postage		2,684		3,033			8,136		9,527
Corporate value and franchise taxes		2,324		2,417			6,994		7,176
Legal and other professional services		2,951		2,712			7,728		7,678
Amortization of intangibles		1,641		2,853			5,478		8,735
Other noninterest expense		16,721		13,842			43,458		42,108
Total noninterest expense		89,549		88,229			259,068		263,334
INCOME BEFORE INCOME TAXES		7,358		73,944			68,159		180,722
INCOME TAX EXPENSE		310		25,178			18,382		59,912
NET INCOME	$	7,048	$	48,766		$	49,777	$	120,810
EARNINGS PER SHARE
Basic	$	.11	$	.72		$	.77	$	1.80
Diluted		.11		.71			.76		1.78
WEIGHTED -AVERAGE
SHARES OUTSTANDING
Basic		64,057,895		67,526,329			64,324,441		66,957,065
Diluted		64,740,931		68,237,485			65,113,263		67,896,650
CASH DIVIDENDS PER SHARE	$	.31	$	.29		$	.93	$	.87

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13

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
SUMMARY OF INTEREST RATES (TAX-EQUIVALENT)*
	Third			Second			Third			Nine Months Ended
	Quarter			Quarter			Quarter			September 30
	2008			2008			2007			2008			2007
EARNING ASSETS
Loans**		5.79	%		5.93	%		7.62	%		6.10	%		7.63	%
Investment securities		4.95			4.81			4.89			4.86			4.83
Federal funds sold and short-term investments		2.13			2.18			5.14			3.55			5.23
Total interest-earning assets		5.62	%		5.70	%		6.97	%		5.83	%		6.99	%
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
NOW account deposits		.53	%		.59	%		1.20	%		.66	%		1.18	%
Money market investment deposits		.95			.98			3.01			1.18			2.97
Savings deposits		.40			.39			1.01			.47			.98
Other time deposits		2.79			3.27			3.95			3.28			3.78
Time deposits $100,000 and over		2.29			2.61			4.56			2.79			4.51
Total interest-bearing deposits		1.41	%		1.57	%		3.00	%		1.71	%		2.89	%
Short-term borrowings		1.74			1.69			4.00			1.91			4.08
Long-term debt		6.00			5.99			6.08			6.00			6.05
Total interest-bearing liabilities		1.58	%		1.69	%		3.17	%		1.84	%		3.06	%
NET INTEREST SPREAD (tax-equivalent)
Yield on earning assets less cost of interest-
bearing liabilities		4.04	%		4.01	%		3.80	%		3.99	%		3.93	%
NET INTEREST MARGIN (tax-equivalent)
Net interest income (tax equivalent) as a
percentage of average earning assets		4.53	%		4.54	%		4.82	%		4.57	%		4.93	%
COST OF FUNDS
Interest expense as a percentage of average interest-
bearing liabilities plus interest-free funds		1.09	%		1.16	%		2.15	%		1.26	%		2.06	%

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14

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN QUALITY
	Third			Third			Nine Months Ended
	Quarter			Quarter			September 30
(dollars in thousands)	2008			2007			2008			2007
ALLOWANCE FOR LOAN LOSSES
Allowance at beginning of period	$	109,852		$	75,099		$	87,909		$	75,927
Allowance of acquired banks		-			-			-			2,791
Provision for credit losses		40,000			9,400			89,000			7,900
Loans charged off		(27,325	)		(5,119	)		(56,659	)		(12,698	)
Recoveries on loans previously charged off		2,843			2,755			5,120			8,215
Net loans charged off		(24,482	)		(2,364	)		(51,539	)		(4,483	)
Allowance at end of period	$	125,370		$	82,135		$	125,370		$	82,135
Allowance for loan losses as a percentage of
loans, at end of period		1.55	%		1.10	%		1.55	%		1.10	%
Annualized net charge-offs as a percentage
of average loans		1.22			.13			.87			.08
Annualized gross charge-offs as a percentage of
average loans		1.36			.28			.96			.23
Recoveries as a percentage of gross charge-offs		10.40			53.82			9.04			64.70
RESERVE FOR LOSSES ON
UNFUNDED CREDIT COMMITMENTS
Reserve at beginning of period	$	1,300		$	1,400		$	1,300		$	1,900
Provision for credit losses		-			(400	)		-			(900	)
Reserve at end of period	$	1,300		$	1,000		$	1,300		$	1,000
	September 30			June 30			December 31			September 30
(dollars in thousands)	2008			2008			2007			2007
NONPERFORMING ASSETS
Loans accounted for on a nonaccrual basis	$	235,136		$	147,383		$	120,096		$	88,580
Restructured loans		-			-			-			-
Total nonperforming loans		235,136			147,383			120,096			88,580
Foreclosed assets and surplus property		19,597			14,524			4,624			2,628
Total nonperforming assets	$	254,733		$	161,907		$	124,720		$	91,208
Loans 90 days past due still accruing	$	6,145		$	7,490		$	8,711		$	2,967
Nonperforming assets as a percentage of loans plus
foreclosed assets and surplus property, at end of period		3.15	%		2.03	%		1.64	%		1.22	%
Allowance for loan losses as a percentage of
nonperforming loans, at end of period		53.32			74.54			73.20			92.72
Loans 90 days past due still accruing as a
percentage of loans, at end of period		.08			.09			.11			.04

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15

WHITNEY HOLDING CORPORATION AND SUBSIDIARIES
LOAN PORTFOLIO DETAIL
LOAN PORTFOLIO AT QUARTER-END
				2008									2007
(dollars in millions)				September			June			March			December			September
Commercial, financial & agricultural				$	3,101		$	3,087		$	2,897		$	2,823		$	2,837
Real estate - commercial, construction & other					3,612			3,537			3,533			3,477			3,345
Real estate - residential mortgage					1,003			983			950			934			924
Individuals					362			356			344			352			347
Total loans				$	8,078		$	7,963		$	7,724		$	7,586		$	7,453
GEOGRAPHIC DISTRIBUTION OF LOAN PORTFOLIO AT SEPTEMBER 30, 2008
										Alabama/						Percent
(dollars in millions)	Louisiana			Texas			Florida			Mississippi			Total			of total
Commercial, financial & agricultural	$	2,147		$	583		$	101		$	270		$	3,101			38	%
Residential construction		74			89			57			45			265			3	%
Commercial construction,
land & land development		377			367			433			241			1,418			18	%
Commercial - owner-user		488			89			180			65			822			10	%
Commercial - other		512			155			313			127			1,107			14	%
Real estate - commercial, construction & other		1,451			700			983			478			3,612			45	%
Real estate - residential mortgage		533			125			221			124			1,003			12	%
Individuals		244			16			64			38			362			4	%
Total	$	4,375		$	1,424		$	1,369		$	910		$	8,078			100	%
Percent of total		54	%		18	%		17	%		11	%		100	%
CRITICIZED LOANS AT SEPTEMBER 30, 2008
										Alabama/						Percent
(dollars in millions)	Louisiana			Texas			Florida			Mississippi			Total			of loans
Commercial, financial & agricultural	$	29		$	38		$	6		$	26		$	99			3	%
Residential construction		8			10			20			3			41			15	%
Commercial construction,
land & land development		28			3			140			34			205			14	%
Commercial - owner-user		35			2			17			12			66			8	%
Commercial - other		36			-			49			18			103			9	%
Real estate - commercial, construction & other		107			15			226			67			415			11	%
Real estate - residential mortgage		24			2			31			6			63			6	%
Individuals		5			-			2			2			9			2	%
Total	$	165		$	55		$	265		$	101		$	586			7	%
Percent of loans		4	%		4	%		19	%		11	%		7	%

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