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**UNITED          STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

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**FORM        10-K**

**ANNUAL        REPORT PURSUANT TO SECTION 13 OR 15(d) OF**

**THE        SECURITIES EXCHANGE ACT OF 1934**

| **For                  the fiscal year ended December 31, 2007** | **            Commission                  file number 0-1026** |
|------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------|

**WHITNEY        HOLDING CORPORATION**

**(Exact        name of registrant as specified in its charter)**

| **Louisiana**                                                 | **72-6017893**                                            |
|---------------------------------------------------------------|-----------------------------------------------------------|
| **(State                  of incorporation)**                 | **(I.R.S.                  Employer Identification No.)** |
|                                                          |                                                      |
| **228                  St. Charles Avenue**                   | **(504)                  586-7272**                       |
| **New                  Orleans, Louisiana 70130**             | **(Registrant’s                  telephone number** |
| **(Address                  of principal executive offices)** |                                                      |

**SECURITIES        REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:**

| **Title                  of Each Class**        | **Name                  of Exchange on Which Registered** |
|-------------------------------------------------|-----------------------------------------------------------|
| **Common                  Stock, no par value** | ** Nasdaq                  Global Select Market**    |

**SECURITIES        REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None**

**X**

**X**

**X**
** **

**__**

| Large                  accelerated filer **X** | Accelerated                  filer _ | Non-accelerated                  filer _ |  Smaller                reporting company _ |
|------------------------------------------------|--------------------------------------|------------------------------------------|--------------------------------------------------|

**X**

**DOCUMENTS        INCORPORATED BY REFERENCE**

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|                                   | **WHITNEY                  HOLDING CORPORATION** |                                                                                                                                                                                   |
|----------------------------------------|--------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                   |                                             |                                                                                                                                                                                   |
| **TABLE                  OF CONTENTS** |                                             |                                                                                                                                                                                   |
|                                   |                                             | **                             Page** |
|                                   |                                             |                                                                                                                                                                                   |

|                        |                      |                                                                 |
|-----------------------------|---------------------------|----------------------------------------------------------------------|
| **PART                  I** |                      |                                                                 |
|                        | Item                  1:  | Business                                                             | 1 |
|                        | Item                  1A: | Risk                  Factors                                        | 8 |
|                        | Item                  1B: | Unresolved                  Staff Comments                           | 9 |
|                        | Item                  2:  | Properties                                                           | 9 |
|                        | Item                  3:  | Legal                  Proceedings                                   | 9 |
|                        | Item                  4:  | Submission                  of Matters to a Vote of Security Holders | 9 |

|                         |                      |                                                                                                                                                                                       |
|------------------------------|---------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **PART                  II** |                      |                                                                                                                                                                                       |
|                         | Item                  5:  | Market                  for the Registrant’s Common Equity, Related Stockholder Matters                  and   Issuer                  Purchases of Equity Securities | 10 |
|                         | Item                  6:  | Selected                  Financial Data                                                                                                                                                   | 12 |
|                         | Item                  7:  | Management’s                  Discussion and Analysis of Financial Condition and Results of                  Operations                                                              | 13 |
|                         | Item                  7A: | Quantitative                  and Qualitative Disclosures about Market Risk                                                                                                                | 41 |
|                         | Item                  8:  | Financial                  Statements and Supplementary Data                                                                                                                               | 42 |
|                         | Item                  9:  | Changes                  in and Disagreements with Accountants on Accounting and Financial                  Disclosure                                                                     | 81 |
|                         | Item                  9A: | Controls                  and Procedures                                                                                                                                                   | 81 |
|                         | Item                  9B: | Other                  Information                                                                                                                                                         | 81 |

|                          |                      |                                                                                                                                        |
|-------------------------------|---------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|
| **PART                  III** |                      |                                                                                                                                        |
|                          | Item                  10: | Directors                  and Executive Officers and Corporate Governance                                                                  | 82 |
|                          | Item                  11: | Executive                  Compensation                                                                                                     | 82 |
|                          | Item                  12: | Security                  Ownership of Certain Beneficial Owners and Management  And                  Related Stockholder Matters | 83 |
|                          | Item                  13: | Certain                  Relationships and Related Transactions, and Director                  Independence                                 | 84 |
|                          | Item                  14: | Principal                  Accounting Fees and Services                                                                                     | 84 |

|                         |                      |                                                        |
|------------------------------|---------------------------|-------------------------------------------------------------|
| **PART                  IV** |                      |                                                        |
|                         | Item                  15: | Exhibits                  and Financial Statement Schedules | 85 |
|                         |                      |                                                        |   |
|                         | Signatures                |                                                        | 89 |

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**PART        I**

**Item        1:  BUSINESS**

**ORGANIZATION        AND RECENT DEVELOPMENTS**

**,**

**NATURE        OF BUSINESS AND MARKETS**

**THE        BANK**

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**COMPETITION**

**SUPERVISION        AND REGULATION**

***Supervisory        Authorities***

***Capital***

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**”**

***FDICIA        and Prompt Corrective Action***

***Expansion        and Activity Limitations***

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***Support        of Subsidiary Banks by Holding Companies***

***Limitations        on Acquisitions of Bank Holding Companies***

***Deposit        Insurance***

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***Other        Statutes and Regulations***

**    Anti-Money        Laundering.**

**    Sections        23A        and 23B of the Federal Reserve Act.**

**    Dividends.**

**    Community        Reinvestment Act.**

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**Consumer        Regulation.  **

| ·   | limit                  the interest and other charges collected or contracted for by the                  Bank; |
|--------------------|-----------------------------------------------------------------------------------------------------------------|

| ·   | govern                  the Bank’s disclosures of credit terms to consumer                  borrowers; |
|--------------------|--------------------------------------------------------------------------------------------------------------|

| ·   | require                  the Bank to provide information to enable the public and public                  officials                  to determine whether it is fulfilling its obligation to help meet                  the                  housing needs of the community it                  serves; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | prohibit                  the Bank from discriminating on the basis of  race, creed or                  other prohibited factors when it makes decisions to extend                  credit; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | require                  that the Bank safeguard the personal nonpublic information of its                  customers, provide annual notices to consumers regarding the usage                  and                  sharing of such information, and limit disclosure of such information                  to                  third parties except under specific circumstances;                  and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | govern                  the manner in which the Bank may collect consumer                  debts. |
|--------------------|---------------------------------------------------------------------------------------------------|

| ·   | require                  the Bank to adequately disclose the interest rates and other terms                  of                  consumer deposit accounts; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | impose                  a duty on the Bank to maintain the confidentiality of consumer                  financial                  records and prescribe procedures for complying with administrative                  subpoenas of financial records; and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | govern                  automatic deposits to and withdrawals from deposit accounts with                  the Bank                  and the rights and liabilities of customers who use automated teller                  machines and other electronic banking                  services. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**EMPLOYEES**

**AVAILABLE        INFORMATION**

**www.whitneybank.com**

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**EXECUTIVE        OFFICERS OF THE COMPANY**

| Name                  and                  Age                                          | Position                  Held and Recent Business                  Experience                                                          |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| William                  L. Marks, 64                                                                                                                                                                                                                                                                | Chief                  Executive Officer and Chairman of the Board of the                  Company                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                 | and                  the Bank since 1990                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| John                  C. Hope III, 59                                                                                                                                                                                                                                                                | President                  and Chief Operating Officer of the Company and the Bank                  since                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                 | 2007;                  Executive Vice President of the Company from 1994 to 2007 and of                  the                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                 | Bank                  from 1998 to 2007                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| R.                  King Milling, 67                                                                                                                                                                                                                                                                 | Vice-chairman                  of the Board of the Company and the Bank since 2007;                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                 | President                  of the Company and the Bank from 1994 to 2007;                                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                 | Director                  of the Company and the Bank since 1978                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Robert                  C. Baird, Jr., 57                                                                                                                                                                                                                                                            | Executive                  Vice President of the Company and the Bank since 1995,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Banking                  Services                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Thomas                  L. Callicutt, Jr., 60                                                                                                                                                                                                                                                        | Executive                  Vice President and Chief Financial Officer of the                  Company                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                 | and                  the Bank since 1999 and Treasurer of the Company since                  2001                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Rodney                  D. Chard, 65                                                                                                                                                                                                                                                                 | Executive                  Vice President of the Company and the Bank since 1996,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Strategic                  Project Implementation                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Francisco                  DeArmas, 46                                                                                                                                                                                                                                                               | Executive                  Vice President of the Company and the Bank since 2007,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Operations                  & Technology                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Joseph                  S. Exnicios, 51                                                                                                                                                                                                                                                              | Executive                  Vice President of the Company and the Bank since 2004,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Senior                  Vice President of the Bank from 1994 to 2004,                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                 | New                  Orleans Banking                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Kevin                  P. Reed, 47                                                                                                                                                                                                                                                                   | Executive                  Vice President of the Company and the Bank since 2004,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Senior                  Vice President of the Bank from 1998 to 2004,                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                 | Trust                  & Wealth Management                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Lewis                  P. Rogers, 55                                                                                                                                                                                                                                                                 | Executive                  Vice President of the Company and the Bank since 2004,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Senior                  Vice President of the Bank from 1998 to 2004,                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                 | Credit                  Administration                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| John                  M. Turner, Jr., 46                                                                                                                                                                                                                                                             | Executive                  Vice President of the Company and the Bank since 2005,                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 | Senior                  Vice President of the Bank from 1994 to 2005,                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                 | Banking                  Division                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Joseph                  S. Schwertz, Jr., 51                                                                                                                                                                                                                                                         | Corporate                  Secretary of the Company and the Bank since 1993,                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                 | Senior                  Vice President of the Bank since 1994,                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                 | General                  Counsel                                                                                                                                                                                                                                                                                                                                                                                                     |

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**Item        1A: RISK FACTORS**

| ·   | credit                  risk, which is the risk that borrowers will be unable to meet their                  contractual obligations, leading to loan losses and reduced interest                  income; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | market                  risk, which is the risk that changes in market rates and prices                  will                  adversely affect the results of operations or financial                  condition; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | liquidity                  risk, which is the risk that funds will not be available at a reasonable                  cost to meet operating and strategic needs;                  and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | operational                  risk, which is the risk of loss resulting from inadequate or failed                  internal processes, people and systems, or external events, such                  as                  natural disasters. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

***Whitney’s        profitability depends in substantial part on net interest income and on our        ability to manage interest rate risk.***

***Whitney’s        market area is susceptible to hurricanes and tropical storms, which may increase        the Company’s exposure to credit risk, operational risk and liquidity        risk.***

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***The        composition of Whitney’s loan portfolio could increase the volatility of our        credit quality metrics and provisions for credit        losses.***

**Item        1B: UNRESOLVED STAFF COMMENTS**

**Item        2:  PROPERTIES**

~~ ~~

**Item        3: **
**LEGAL PROCEEDINGS**

**Item        4: **
**SUBMISSION OF MATTERS TO A VOTE OF SECURITY        HOLDERS**

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**PART        II**

|   | **Item                  5:  MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED                  STOCKHOLDER MATTERS AND ISSUER PURCHASES****OF** |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                              **EQUITY SECURITIES** |
|--------|---------------------------------------------------------------------------------------------------------------------|

|     Period |  Total                  Number                  of Shares                  Purchased |   Average                  Price                  Paid  per                  Share | Total                  Number of Shares                  Purchased as Part                  of Publicly Announced                  Plans or Programs                  (1) |  Maximum                  Number of Shares                  that May Yet Be                  Purchased under the                  Plans or Programs (1) |
|--------------------------------|-------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| October                  2007  | 4,425                  (2)                                                                |  $26.78                                                                                           | -                                                                                                                                                                              | -                                                                                                                                                            |
| November                  2007 | 956,794                                                                                   | $25.55                                                                                                 | 956,794                                                                                                                                                                        | 3,043,206                                                                                                                                                    |
| December                  2007 | 938,297                                                                                   | $26.71                                                                                                 | 938,297                                                                                                                                                                        | 2,104,909                                                                                                                                                    |

| (1)   | In                  November 2007, the Board of Directors authorized the Company to                  repurchase                  up to 4 million shares of its common stock.  The program extends                  through December 2008. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Represents                  shares that were tendered to the Company as consideration for the                  exercise                  price of employee stock                  options. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**STOCK        PERFORMANCE GRAPH**

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| **Item                  6:  SELECTED FINANCIAL DATA**                                                                                                                                          |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|----------------|------------|--------|------------|------------|------------|--------|------------|------------|--------|--------|--------|------------|
| **WHITNEY                  HOLDING CORPORATION AND SUBSIDIARIES**                                                                                                                                        |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |
|                                                                                                                                                                                                     |   | *Years                  Ended December 31*           |
| *(dollars                  in thousands, except per share data)*                                                                                                                                         |   | **2007**                                                                                               |           | 2006  |   | 2005  |       | 2004  |   | 2003  |
| **YEAR-END                  BALANCE SHEET DATA**                                                                                                                                                         |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |
|   Total                  assets                                                                                                                                                                |   | **$**                                                                                                  | **11,027,264** |       |   | $          | 10,185,880 |       |   | $          | 10,109,006 |   |   | $      | 8,222,624  |   |   | $ | 7,754,982 |   |
|   Earning                  assets                                                                                                                                                              |   | ** **                                                                                             | **10,122,071** |       |   |       | 9,277,554  |       |   |       | 9,054,484  |   |   |   | 7,648,740  |   |   |   | 7,193,709 |   |
|   Loans                                                                                                                                                                                        |   | ** **                                                                                             | **7,585,701**  |       |   |       | 7,050,416  |       |   |       | 6,560,597  |   |   |   | 5,626,276  |   |   |   | 4,882,610 |   |
|   Investment                  securities                                                                                                                                                       |   | ** **                                                                                             | **1,985,237**  |       |   |       | 1,886,093  |       |   |       | 1,641,451  |   |   |   | 1,991,244  |   |   |   | 2,281,405 |   |
|   Noninterest-bearing                  deposits                                                                                                                                                |   | ** **                                                                                             | **2,740,019**  |       |   |       | 2,947,997  |       |   |       | 3,301,227  |   |   |   | 2,111,703  |   |   |   | 1,943,248 |   |
|   Total                  deposits                                                                                                                                                              |   | ** **                                                                                             | **8,583,789**  |       |   |       | 8,433,308  |       |   |       | 8,604,836  |   |   |   | 6,612,607  |   |   |   | 6,158,582 |   |
|   Shareholders'                  equity                                                                                                                                                        |   | ** **                                                                                             | **1,228,736**  |       |   |       | 1,112,962  |       |   |       | 961,043    |   |   |   | 904,765    |   |   |   | 840,313 |   |
| **AVERAGE                  BALANCE SHEET DATA**                                                                                                                                                          |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|   Total                  assets                                                                                                                                                                |   | **$**                                                                                                  | **10,512,422** |       |   | $          | 10,242,838 |       |   | $          | 8,903,321  |   |   | $      | 7,890,183  |   |   | $ | 7,238,022 |   |
|   Earning                  assets                                                                                                                                                              |   | ** **                                                                                             | **9,636,586**  |       |   |       | 9,349,262  |       |   |       | 8,098,998  |   |   |   | 7,327,233  |   |   |   | 6,717,863 |   |
|   Loans                                                                                                                                                                                        |   | ** **                                                                                             | **7,344,889**  |       |   |       | 6,776,794  |       |   |       | 6,137,676  |   |   |   | 5,179,734  |   |   |   | 4,595,868 |   |
|   Investment                  securities                                                                                                                                                       |   | ** **                                                                                             | **1,893,866**  |       |   |       | 1,824,646  |       |   |       | 1,836,228  |   |   |   | 2,120,594  |   |   |   | 2,004,245 |   |
|   Noninterest-bearing                  deposits                                                                                                                                                |   | ** **                                                                                             | **2,708,353**  |       |   |       | 3,033,978  |       |   |       | 2,439,229  |   |   |   | 1,977,515  |   |   |   | 1,759,414 |   |
|   Total                  deposits                                                                                                                                                              |   | ** **                                                                                             | **8,397,778**  |       |   |       | 8,476,954  |       |   |       | 7,224,426  |   |   |   | 6,347,503  |   |   |   | 5,913,186 |   |
|   Shareholders'                  equity                                                                                                                                                        |   | ** **                                                                                             | **1,209,923**  |       |   |       | 1,065,303  |       |   |       | 935,362    |   |   |   | 881,477    |   |   |   | 823,698 |   |
| **INCOME                  STATEMENT DATA**                                                                                                                                                               |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|   Interest                  income                                                                                                                                                             |   | **$**                                                                                                  | **661,105**    |       |   | $          | 616,371    |       |   | $          | 468,085    |   |   | $      | 360,772    |   |   | $ | 338,069 |   |
|   Interest                  expense                                                                                                                                                            |   | ** **                                                                                             | **196,314**    |       |   |       | 145,160    |       |   |       | 80,986     |   |   |   | 40,682     |   |   |   | 43,509 |   |
|   Net                  interest income                                                                                                                                                         |   | ** **                                                                                             | **464,791**    |       |   |       | 471,211    |       |   |       | 387,099    |   |   |   | 320,090    |   |   |   | 294,560 |   |
|   Net                  interest income (TE)                                                                                                                                                    |   | ** **                                                                                             | **470,868**    |       |   |       | 477,423    |       |   |       | 392,979    |   |   |   | 326,237    |   |   |   | 300,115 |   |
|   Provision                  for credit losses                                                                                                                                                 |   | ** **                                                                                             | **17,000**     |       |   |       | 3,720      |       |   |       | 37,580     |   |   |   | 2,000      |   |   |   | (3,500 | ) |
|   Noninterest                  income                                                                                                                                                          |   | ** **                                                                                             | **126,681**    |       |   |       | 84,791     |       |   |       | 82,235     |   |   |   | 82,523     |   |   |   | 89,504 |   |
|     Net                  securities gain (loss) in noninterest income                                                                                                                |   | ** **                                                                                             | **(1**         | **)**      |   |       | -          |       |   |       | 68         |   |   |   | 68         |   |   |   | 863 |   |
|   Noninterest                  expense                                                                                                                                                         |   | ** **                                                                                             | **349,108**    |       |   |       | 338,473    |       |   |       | 286,398    |   |   |   | 260,278    |   |   |   | 242,923 |   |
|   Net                  income                                                                                                                                                                  |   | ** **                                                                                             | **151,054**    |       |   |       | 144,645    |       |   |       | 102,349    |   |   |   | 97,137     |   |   |   | 98,542 |   |
| **KEY                  RATIOS**                                                                                                                                                                          |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|   Return                  on average assets                                                                                                                                                    |   | ** **                                                                                             | **1.44**       | **%**      |   |       | 1.41       | %          |   |       | 1.15       | %      |   |   | 1.23       | % |   |   | 1.36 | % |
|   Return                  on average shareholders' equity                                                                                                                                      |   | ** **                                                                                             | **12.48**      |       |   |       | 13.58      |       |   |       | 10.94      |   |   |   | 11.02      |   |   |   | 11.96 |   |
|   Net                  interest margin                                                                                                                                                         |   | ** **                                                                                             | **4.89**       |       |   |       | 5.11       |       |   |       | 4.85       |   |   |   | 4.45       |   |   |   | 4.47 |   |
|   Average                  loans to average deposits                                                                                                                                           |   | ** **                                                                                             | **87.46**      |       |   |       | 79.94      |       |   |       | 84.96      |   |   |   | 81.60      |   |   |   | 77.72 |   |
|   Efficiency                  ratio                                                                                                                                                            |   | ** **                                                                                             | **58.42**      |       |   |       | 60.20      |       |   |       | 60.28      |   |   |   | 63.69      |   |   |   | 62.49 |   |
|   Allowance                  for loan losses to loans                                                                                                                                          |   | ** **                                                                                             | **1.16**       |       |   |       | 1.08       |       |   |       | 1.37       |   |   |   | .97        |   |   |   | 1.22 |   |
|   Nonperforming                  assets to loans plus foreclosed                                                                                                                               |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|      and                  surplus property                                                                                                                                      |   | ** **                                                                                             | **1.64**       |       |   |       | .81        |       |   |       | 1.03       |   |   |   | .46        |   |   |   | .62 |   |
|   Net                  charge-offs to average loans                                                                                                                                            |   | ** **                                                                                             | **.11**        |       |   |       | .29        |       |   |       | .08        |   |   |   | .06        |   |   |   | .07 |   |
|   Average                  shareholders' equity to average assets                                                                                                                              |   | ** **                                                                                             | **11.51**      |       |   |       | 10.40      |       |   |       | 10.51      |   |   |   | 11.17      |   |   |   | 11.38 |   |
|   Shareholders'                  equity to total assets                                                                                                                                        |   | ** **                                                                                             | **11.14**      |       |   |       | 10.93      |       |   |       | 9.51       |   |   |   | 11.00      |   |   |   | 10.84 |   |
|   Tangible                  common equity as a percentage of                                                                                                                                   |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|     tangible                  assets, end of period                                                                                                                                  |   | ** **                                                                                             | **8.24**       |       |   |       | 8.08       |       |   |       | 7.40       |   |   |   | 9.46       |   |   |   | 9.76 |   |
|   Leverage                  ratio                                                                                                                                                              |   | ** **                                                                                             | **8.79**       |       |   |       | 8.76       |       |   |       | 8.21       |   |   |   | 9.56       |   |   |   | 10.13 |   |
| **COMMON                  SHARE DATA**                                                                                                                                                                   |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|   Earnings                  Per Share                                                                                                                                                          |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|       Basic                                                                                                                                                                |   | **$**                                                                                                  | **2.26**       |       |   | $          | 2.24       |       |   | $          | 1.65       |   |   | $      | 1.59       |   |   | $ | 1.65 |   |
|       Diluted                                                                                                                                                              |   | ** **                                                                                             | **2.23**       |       |   |       | 2.20       |       |   |       | 1.63       |   |   |   | 1.56       |   |   |   | 1.63 |   |
|   Dividends                                                                                                                                                                                    |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|       Cash                  dividends per share                                                                                                                            |   | **$**                                                                                                  | **1.16**       |       |   | $          | 1.08       |       |   | $          | .98        |   |   | $      | .89        |   |   | $ | .82 |   |
|       Dividend                  payout ratio                                                                                                                               |   | ** **                                                                                             | **52.05**      | **%**      |   |       | 48.85      | %          |   |       | 60.26      | %      |   |   | 56.99      | % |   |   | 50.32 | % |
|   Book                  Value Per Share                                                                                                                                                        |   | **$**                                                                                                  | **18.67**      |       |   | $          | 16.88      |       |   | $          | 15.17      |   |   | $      | 14.57      |   |   | $ | 13.85 |   |
|   Trading                  Data                                                                                                                                                                |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|       High                  price                                                                                                                                          |   | **$**                                                                                                  | **33.26**      |       |   | $          | 37.26      |       |   | $          | 33.69      |   |   | $      | 30.83      |   |   | $ | 27.55 |   |
|       Low                  price                                                                                                                                           |   | ** **                                                                                             | **22.46**      |       |   |       | 27.27      |       |   |       | 24.14      |   |   |   | 26.35      |   |   |   | 20.50 |   |
|       End-of-period                  closing price                                                                                                                         |   | ** **                                                                                             | **26.15**      |       |   |       | 32.62      |       |   |       | 27.56      |   |   |   | 29.99      |   |   |   | 27.33 |   |
|       Trading                  volume                                                                                                                                      |   | ** **                                                                                             | **88,480,468** |       |   |       | 52,778,191 |       |   |       | 50,434,066 |   |   |   | 27,662,252 |   |   |   | 34,386,386 |   |
|   Average                  Shares Outstanding                                                                                                                                                  |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
|       Basic                                                                                                                                                                |   | ** **                                                                                             | **66,953,343** |       |   |       | 64,687,363 |       |   |       | 62,008,004 |   |   |   | 61,122,581 |   |   |   | 59,894,147 |   |
|       Diluted                                                                                                                                                              |   | ** **                                                                                             | **67,858,307** |       |   |       | 65,853,149 |       |   |       | 62,953,293 |   |   |   | 62,083,043 |   |   |   | 60,594,201 |   |
|                                                                                                                                                                                                     |   |                                                                                                   |           |       |   |       |       |       |   |       |       |   |   |   |       |   |   |   |   |   |
| *Tax-equivalent                  (TE) amounts are calculated using a marginal federal income tax                  rate of                  35%.*                                                         |   |                                                                                                   |           |       |   |
| *The                  efficiency ratio is noninterest expense to total net interest (TE)                  and                  noninterest income (excluding securities                  transactions).* |   |

----

**Item        7:  MANAGEMENT’S DISCUSSION AND ANALYSIS OF**

**      FINANCIAL        CONDITION AND RESULTS OF OPERATIONS**

**FORWARD-LOOKING        STATEMENTS**

| ·   | Whitney’s                  ability to effectively manage interest rate risk and other market                  risk,                  credit risk and operational risk; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes                  in interest rates that affect the pricing of Whitney’s financial products,                  the demand for its financial services and the valuation of its                  financial                  assets and liabilities; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Whitney’s                  ability to manage fluctuations in the value of its assets and liabilities                  and off-balance sheet exposure so as to maintain sufficient capital                  and                  liquidity to support its business; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | possible                  changes in general economic and business conditions, including                  the real                  estate and financial markets, in the United States and in the region                  and                  communities Whitney serves; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ·  | the                occurrence of natural disasters or acts of war or terrorism that                directly                or indirectly affect the financial health of Whitney’s customer                base; |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes                  in laws and regulations that significantly affect the activities                  of the                  banking industry and its competitive position relative to other                  financial                  service providers; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | technological                  changes affecting the nature or delivery of financial products                  or services                  and the cost of providing them; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Whitney’s                  ability to develop competitive new products and services in a timely                  manner and the acceptance of such products and services by the                  Bank’s                  customers; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Whitney’s                  ability to effectively expand into new                  markets; |
|--------------------|---------------------------------------------------------------------------------------------------|

| ·   | the                  cost and other effects of material                  contingencies; |
|--------------------|-----------------------------------------------------------------------------------------|

----

| ·   | the                  failure to attract or retain key                  personnel; |
|--------------------|-----------------------------------------------------------------------------------|

| ·   | the                  failure to capitalize on growth opportunities and to realize cost                  savings                  in connection with business acquisitions;                  and |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | management’s                  inability to develop and execute plans for Whitney to effectively                  respond                  to unexpected changes. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**OVERVIEW**

***Insurance        Settlement***

***Mergers        and Acquisitions***

***Loans        and Earning Assets***

----

***Deposits        and Funding***

***Net        Interest Income***

***Provision        for Credit Losses and Credit Quality***

***Noninterest        Income***

***Noninterest        Expense***

----

**CRITICAL        ACCOUNTING POLICIES**

----

**FINANCIAL        CONDITION**

**LOANS,        CREDIT RISK MANAGEMENT AND ALLOWANCE AND RESERVE FOR CREDIT        LOSSES**

***Loan        Portfolio Developments***

| **TABLE                  1.  LOANS OUTSTANDING BY TYPE**      |
|-------------------------------------------------------------------------|
|                                                                    | December                  31, |
| *(in                  thousands)*                                       | **2007** | 2006 | 2005 | 2004 | 2003 |
| Commercial,                  financial and agricultural                 | **$2,822,752** | $2,725,531 | $2,685,894 | $2,399,794 | $2,213,207 |
| Real                  estate – commercial, construction and other | **3,477,558** | 3,094,004 | 2,743,486 | 2,209,975 |     1,726,212 |
| Real                  estate – residential mortgage               | **933,797** | 893,091 | 774,124 | 685,732 |        619,869 |
| Individuals                                                             | **351,594** | 337,790 | 357,093 | 330,775 |     323,322 |
|     Total                  loans                    | **$7,585,701** | $7,050,416 | $6,560,597 | $5,626,276 | $4,882,610 |

----

----

| **TABLE                  2.  LOAN MATURITIES BY TYPE**        |
|-------------------------------------------------------------------------|
|                                                                    | December                  31, 2007 |
|                                                                    | One                  year | One                  through | More                  than |   |
| *(in                  thousands)*                                       | or                  less | five                  years | five                  years | Total |
| Commercial,                  financial and agricultural                 | $1,971,868 | $   777,254 | $  73,630 | $2,822,752 |
| Real                  estate – commercial, construction and other | 1,411,137 | 1,693,592 | 372,829 | 3,477,558 |
| Real                  estate – residential mortgage               | 168,452 | 517,581 | 247,764 | 933,797 |
| Individuals                                                             | 174,261 | 148,893 | 28,440 | 351,594 |
|     Total                                           | $3,725,718 | $3,137,320 | $722,663 | $7,585,701 |

***Credit        Risk Management and Allowance and Reserve for Credit        Losses***

***    General        Discussion of Credit Risk Management and Determination of Credit Loss Allowance        and Reserve***

----

***    Credit        Quality Statistics and Components of Credit Loss Allowance and        Reserve***

----

| **TABLE                  3.  NONPERFORMING ASSETS**                                |   |                               |        |   |   |   |   |   |   |   |   |   |   |   |   |
|----------------------------------------------------------------------------------------------|--------|------------------------------------|-------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                         |   | December                  31  |
| *(dollars                  in thousands)*                                                    |   | **2007**                           |        |   | 2006   |   |   | 2005   |   |   | 2004   |   |   | 2003   |   |
| Loans                  accounted for on a nonaccrual basis                                   |   | **$**                              | **120,096** |   |   | $      | 55,992 |   |   | $      | 65,565 |   |   | $      | 23,597 |   |   | $ | 26,776 |   |
| Restructured                  loans                                                          |   | ** **                         | **-**       |   |   |   | -      |   |   |   | 30     |   |   |   | 49     |   |   |   | 114 |   |
|    Total                  nonperforming loans                                 |   | ** **                         | **120,096** |   |   |   | 55,992 |   |   |   | 65,595 |   |   |   | 23,646 |   |   |   | 26,890 |   |
| Foreclosed                  assets and surplus banking property                              |   | ** **                         | **4,624**   |   |   |   | 800    |   |   |   | 1,708  |   |   |   | 2,454  |   |   |   | 3,490 |   |
|    Total                  nonperforming assets                                |   | **$**                              | **124,720** |   |   | $      | 56,792 |   |   | $      | 67,303 |   |   | $      | 26,100 |   |   | $ | 30,380 |   |
| Loans                  90 days past due still accruing                                       |   | **$**                              | **8,711**   |   |   | $      | 7,574  |   |   | $      | 13,728 |   |   | $      | 3,533  |   |   | $ | 3,385 |   |
| Ratios:                                                                                      |   |                               |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Nonperforming                  assets to loans plus foreclosed             |   |                               |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|         assets                  and surplus property |   | ** **                         | **1.64**    | **%**  |   |   | .81    | %      |   |   | 1.03   | %      |   |   | .46    | % |   |   | .62 | % |
|    Allowance                  for loan losses to                              |   |                               |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|         nonperforming                  loans         |   | ** **                         | **73**      |   |   |   | 136    |   |   |   | 137    |   |   |   | 230    |   |   |   | 221 |   |
|    Loans                  90 days past due still accruing to loans            |   | ** **                         | **.11**     |   |   |   | .11    |   |   |   | .21    |   |   |   | .06    |   |   |   | .07 |   |

----

| **TABLE                  4. SUMMARY OF ACTIVITY IN THE ALLOWANCE FOR LOAN LOSSES                  AND**                                                            |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **                                  RESERVE FOR LOSSES ON UNFUNDED CREDIT COMMITMENTS** |   |
| *(dollars                  in thousands)*                                                                                                                               |   | **2007** |   |   | 2006 |   |   | 2005 |   |   | 2004 |   |   | 2003 |   |
| **ALLOWANCE                  FOR LOAN LOSSES**                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                  at beginning of year                                                                                                                           |   | **$** | **75,927** |   |   | $ | 90,028 |   |   | $ | 54,345 |   |   | $ | 59,475 |   |   | $ | 66,115 |   |
| Allowance                  of acquired banks                                                                                                                            |   | ** ** | **2,791** |   |   |   | 2,908 |   |   |   | 3,648 |   |   |   | 2,461 |   |   |   | - |   |
| Provision                  for credit losses                                                                                                                            |   | ** ** | **17,600** |   |   |   | 2,400 |   |   |   | 37,000 |   |   |   | 2,000 |   |   |   | (3,500 | ) |
| Loans                  charged off:                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Commercial,                  financial and agricultural                                                                                               |   | ** ** | **(9,452** | **)** |   |   | (15,841 | ) |   |   | (7,047 | ) |   |   | (9,680 | ) |   |   | (7,286 | ) |
|    Real                  estate – commercial, construction and other                                                                               |   | ** ** | **(4,370** | **)** |   |   | (6,535 | ) |   |   | (438 | ) |   |   | (932 | ) |   |   | (963 | ) |
|    Real                  estate – residential mortgage                                                                                             |   | ** ** | **(1,726** | **)** |   |   | (555 | ) |   |   | (295 | ) |   |   | (619 | ) |   |   | (1,176 | ) |
|    Individuals                                                                                                                                           |   | ** ** | **(2,408** | **)** |   |   | (2,297 | ) |   |   | (2,876 | ) |   |   | (2,799 | ) |   |   | (3,509 | ) |
|       Total                  charge-offs                                                                                                  |   | ** ** | **(17,956** | **)** |   |   | (25,228 | ) |   |   | (10,656 | ) |   |   | (14,030 | ) |   |   | (12,934 | ) |
| Recoveries                  on loans previously charged off:                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Commercial,                  financial and agricultural                                                                                               |   | ** ** | **7,703** |   |   |   | 3,409 |   |   |   | 2,707 |   |   |   | 2,488 |   |   |   | 2,273 |   |
|    Real                  estate – commercial, construction and other                                                                               |   | ** ** | **179** |   |   |   | 234 |   |   |   | 932 |   |   |   | 223 |   |   |   | 3,666 |   |
|    Real                  estate – residential mortgage                                                                                             |   | ** ** | **407** |   |   |   | 270 |   |   |   | 571 |   |   |   | 246 |   |   |   | 1,873 |   |
|    Individuals                                                                                                                                           |   | ** ** | **1,258** |   |   |   | 1,906 |   |   |   | 1,481 |   |   |   | 1,482 |   |   |   | 1,982 |   |
|       Total                  recoveries                                                                                                   |   | ** ** | **9,547** |   |   |   | 5,819 |   |   |   | 5,691 |   |   |   | 4,439 |   |   |   | 9,794 |   |
| Net                  loans charged off                                                                                                                                  |   | ** ** | **(8,409** | **)** |   |   | (19,409 | ) |   |   | (4,965 | ) |   |   | (9,591 | ) |   |   | (3,140 | ) |
| Balance                  at end of year                                                                                                                                 |   | **$** | **87,909** |   |   | $ | 75,927 |   |   | $ | 90,028 |   |   | $ | 54,345 |   |   | $ | 59,475 |   |
| Ratios                                                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Net                  charge-offs to average loans                                                                                                     |   | ** ** | **.11** | **%** |   |   | .29 | % |   |   | .08 | % |   |   | .19 | % |   |   | .07 | % |
|    Gross                  charge-offs to average loans                                                                                                   |   | ** ** | **.24** |   |   |   | .37 |   |   |   | .17 |   |   |   | .27 |   |   |   | .28 |   |
|    Recoveries                  to gross charge-offs                                                                                                      |   | ** ** | **53.17** |   |   |   | 23.07 |   |   |   | 53.41 |   |   |   | 31.64 |   |   |   | 75.72 |   |
|    Allowance                  for loan losses to loans at end of year                                                                                    |   | ** ** | **1.16** |   |   |   | 1.08 |   |   |   | 1.37 |   |   |   | .97 |   |   |   | 1.22 |   |
| **RESERVE                  FOR LOSSES ON UNFUNDED CREDIT COMMITMENTS**                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reserve                  at beginning of year                                                                                                                           |   | **$** | **1,900** |   |   | $ | 580 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Provision                  for credit losses                                                                                                                            |   | ** ** | **(600** | **)** |   |   | 1,320 |   |   |   | 580 |   |   |   | - |   |   |   | - |   |
| Reserve                  at end of year                                                                                                                                 |   | **$** | **1,300** |   |   | $ | 1,900 |   |   | $ | 580 |   |   | $ | - |   |   | $ | - |   |

| **TABLE                  5. ALLOCATION OF THE ALLOWANCE FOR LOAN                  LOSSES** |   |
|-------------------------------------------------------------------------------------------------|--------|
|                                                                                            |   | **2007**  |   | 2006  |   | 2005  |   | 2004  |   | 2003  |
|                                                                                            |   |   |   |   | %  |   |   |   |   | %  |   |   |   |   | %  |   |   |   |   | %  |   |   |   |   | %  |
| *(dollars                  in millions)*                                                        |   | Balance  |   | Loans  |   | Balance  |   | Loans  |   | Balance  |   | Loans  |   | Balance  |   | Loans  |   | Balance  |   | Loans  |
| Commercial,                  financial                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   and                  agricultural                                                   |   | **$** | **34.4** |   |   | ** ** | **37** | **%** |   | $ | 31.4 |   |   |   | 38 | % |   | $ | 40.6 |   |   |   | 41 | % |   | $ | 24.3 |   |   |   | 43 | % |   | $ | 29.2 |   |   |   | 45 | % |
| Real                  estate – commercial,                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   construction                  and other                                             |   | ** ** | **40.6** |   |   | ** ** | **46** |   |   |   | 31.8 |   |   |   | 44 |   |   |   | 29.8 |   |   |   | 42 |   |   |   | 21.2 |   |   |   | 39 |   |   |   | 19.2 |   |   |   | 35 |   |
| Real                  estate –                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    residential                  mortgage                                         |   | ** ** | **5.4** |   |   | ** ** | **12** |   |   |   | 4.0 |   |   |   | 13 |   |   |   | 7.3 |   |   |   | 12 |   |   |   | 4.2 |   |   |   | 12 |   |   |   | 5.0 |   |   |   | 13 |   |
| Individuals                                                                                     |   | ** ** | **2.3** |   |   | ** ** | **5** |   |   |   | 3.8 |   |   |   | 5 |   |   |   | 7.3 |   |   |   | 5 |   |   |   | 2.7 |   |   |   | 6 |   |   |   | 2.6 |   |   |   | 7 |   |
| Unallocated                                                                                     |   | ** ** | **5.2** |   |   | ** ** | **-** |   |   |   | 4.9 |   |   |   | - |   |   |   | 5.0 |   |   |   | - |   |   |   | 1.9 |   |   |   | - |   |   |   | 3.5 |   |   |   | - |   |
|   Total                                                                               |   | **$** | **87.9** |   |   | ** ** | **100** | **%** |   | $ | 75.9 |   |   |   | 100 | % |   | $ | 90.0 |   |   |   | 100 | % |   | $ | 54.3 |   |   |   | 100 | % |   | $ | 59.5 |   |   |   | 100 | % |

----

**INVESTMENT        SECURITIES**

| **TABLE                  6. DISTRIBUTION OF INVESTMENT MATURITIES**                                                                                                               |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| December                  31, 2007                                                                                                                                                |
|                                                                                                                                                                                   |   |   |   |   | Over                  one through |   |   | Over                  five through |   |   |   |   |   |   |   |
| *(dollars                  in thousands)*                                                                                                                                              |   | One                  year and less |   |   | five                  years |   |   | ten                  years |   |   | Over                  ten years |   |   | Total |   |
|                                                                                                                                                                                   |   | Amount |   |   | Yield  |   | Amount |   |   | Yield  |   | Amount |   |   | Yield  |   | Amount |   |   | Yield  |   | Amount |   |   | Yield  |
| ***Securities                  Available for Sale***                                                                                                                                   |   |
| Mortgage-backed                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   securities(a)                                                                                                                                                              |   | $ | 2,208 |   |   |   | 5.09 | % |   | $ | 210,756 |   |   |   | 4.61 | % |   | $ | 243,883 |   |   |   | 5.09 | % |   | $ | 861,334 |   |   |   | 4.80 | % |   | $ | 1,318,181 |   |   |   | 4.82 | % |
| U.                  S. agency securities                                                                                                                                               |   |   | 230,398 |   |   |   | 3.90 |   |   |   | 104,311 |   |   |   | 4.49 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 334,709 |   |   |   | 4.08 |   |
| Obligations                  of states and                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   political                  subdivisions                  (b)                                                                                                               |   |   | 1,209 |   |   |   | 5.67 |   |   |   | 5,971 |   |   |   | 6.03 |   |   |   | 3,089 |   |   |   | 6,23 |   |   |   | - |   |   |   | - |   |   |   | 10,269 |   |   |   | 6.05 |   |
| Other                  debt securities                                                                                                                                                 |   |   | 1,198 |   |   |   | 6.69 |   |   |   | 3,643 |   |   |   | 5.63 |   |   |   | 250 |   |   |   | 5.10 |   |   |   | - |   |   |   | - |   |   |   | 5,091 |   |   |   | 5.85 |   |
| Equity                  securities(c)                                                                                                                                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 30,545 |   |   |   | 5.84 |   |   |   | 30,545 |   |   |   | 5.84 |   |
|     Total                                                                                                                                                          |   | $ | 235,013 |   |   |   | 3.93 | % |   | $ | 324,681 |   |   |   | 4.61 | % |   | $ | 247,222 |   |   |   | 5.10 | % |   | $ | 891,879 |   |   |   | 4.84 | % |   | $ | 1,698,795 |   |   |   | 4.71 | % |
| ***Securities                  Held to Maturity***                                                                                                                                     |   |
| Obligations                  of states and                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   political                  subdivisions                  (b)                                                                                                               |   | $ | 71,190 |   |   |   | 5.62 | % |   | $ | 79,153 |   |   |   | 5.76 | % |   | $ | 77,495 |   |   |   | 5.94 | % |   | $ | 58,604 |   |   |   | 6.30 | % |   | $ | 286,442 |   |   |   | 5.88 | % |
|     Total                                                                                                                                                          |   | $ | 71,190 |   |   |   | 5.62 | % |   | $ | 79,153 |   |   |   | 5.76 | % |   | $ | 77,495 |   |   |   | 5.94 | % |   | $ | 58,604 |   |   |   | 6.30 | % |   | $ | 286,442 |   |   |   | 5.88 | % |
| *(a)                  Distributed by contractual maturity without regard to repayment                  schedules                  or projected prepayments.*                           |   |
| *(b)                  Tax exempt yields are expressed on a fully taxable-equivalent                  basis.*                                                                           |   |
| *(c)                  These securities have no stated maturities or guaranteed                  dividends. Yield estimated based on expected near-term                  returns.* |   |

----

**DEPOSITS        AND BORROWINGS**

| **TABLE                  7.  DEPOSIT COMPOSITION**    |   |           |          |       |   |       |    |   |   |
|-----------------------------------------------------------------|--------|----------------|---------------|------------|--------|------------|---------|--------|--------|
| *(dollars                  in thousands)*                       |   | **2007**  |          | 2006  |   | 2005  |
| Noninterest-bearing                  demand deposits            |   | **$**          | **2,740,019** |       |   | ** ** | **32**  | **%**  |   | $ | 2,947,997 |   |   |   | 35 | % |   | $ | 3,301,227 |   |   |   | 38 | % |
| Interest-bearing                  deposits:                     |   |           |          |       |   |       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   NOW                  account deposits               |   | ** **     | **1,151,988** |       |   | ** ** | **13**  |   |   |   | 1,099,408 |   |   |   | 13 |   |   |   | 1,116,000 |   |   |   | 13 |   |
|   Money                  market deposits              |   | ** **     | **1,229,715** |       |   | ** ** | **14**  |   |   |   | 1,185,610 |   |   |   | 14 |   |   |   | 1,103,510 |   |   |   | 13 |   |
|   Savings                  deposits                   |   | ** **     | **879,609**   |       |   | ** ** | **10**  |   |   |   | 965,652 |   |   |   | 11 |   |   |   | 1,120,078 |   |   |   | 13 |   |
|   Other                  time deposits                |   | ** **     | **823,884**   |       |   | ** ** | **10**  |   |   |   | 750,165 |   |   |   | 9 |   |   |   | 717,938 |   |   |   | 8 |   |
|   Time                  deposits $100,000 and over    |   | ** **     | **1,758,574** |       |   | ** ** | **21**  |   |   |   | 1,484,476 |   |   |   | 18 |   |   |   | 1,246,083 |   |   |   | 15 |   |
|     Total                  interest-bearing |   | ** **     | **5,843,770** |       |   | ** ** | **68**  |   |   |   | 5,485,311 |   |   |   | 65 |   |   |   | 5,303,609 |   |   |   | 62 |   |
|      Total                             |   | **$**          | **8,583,789** |       |   | ** ** | **100** | **%**  |   | $ | 8,433,308 |   |   |   | 100 | % |   | $ | 8,604,836 |   |   |   | 100 | % |

----

| **TABLE                  8.  MATURITIES OF TIME DEPOSITS** |                         |                               |       |
|----------------------------------------------------------------------|------------------------------|------------------------------------|------------|
|                                                                 | Deposits                  of |  Deposits                  of |       |
|                                                                 | $100,000                     |  less                  than   |       |
| *(in                  thousands)*                                    | or                  more     |  $100,000                     | Total      |
| Three                  months or less                                | $1,184,157                   | $267,904                           | $1,452,061 |
| Over                  three months through six months                | 315,616                      | 239,574                            | 555,190    |
| Over                  six months through twelve months               | 231,872                      | 224,273                            | 456,145    |
| Over                  twelve months                                  | 26,929                       | 92,133                             | 119,062    |
|   Total                                                    | $1,758,574                   | $823,884                           | $2,582,458 |

----

**SHAREHOLDERS’        EQUITY AND CAPITAL ADEQUACY**

| **TABLE                  9. RISK-BASED CAPITAL AND CAPITAL RATIOS**       |   |
|--------------------------------------------------------------------------------|--------|
| *(dollars                  in thousands)*                                      |   | **2007**  |   | 2006  |   | 2005  |   | 2004  |   | 2003  |
| Tier                  1 regulatory capital                                     |   | **$** | **911,141** |   |   | $ | 853,774 |   |   | $ | 765,881 |   |   | $ | 767,717 |   |   | $ | 739,236 |   |
| Tier                  2 regulatory capital                                     |   | ** ** | **238,967** |   |   |   | 77,827 |   |   |   | 90,608 |   |   |   | 54,345 |   |   |   | 59,475 |   |
|   Total                  regulatory capital                          |   | **$** | **1,150,108** |   |   | $ | 931,601 |   |   | $ | 856,489 |   |   | $ | 822,062 |   |   | $ | 798,711 |   |
| Risk-weighted                  assets                                          |   | **$** | **9,023,862** |   |   | $ | 8,340,926 |   |   | $ | 7,746,046 |   |   | $ | 6,527,821 |   |   | $ | 5,777,094 |   |
| Ratios                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Leverage                  ratio (Tier 1 capital to average assets) |   | ** ** | **8.79** | **%** |   |   | 8.76 | % |   |   | 8.21 | % |   |   | 9.56 | % |   |   | 10.13 | % |
|   Tier                  1 capital to risk-weighted assets            |   | ** ** | **10.10** |   |   |   | 10.24 |   |   |   | 9.89 |   |   |   | 11.76 |   |   |   | 12.80 |   |
|   Total                  capital to risk-weighted assets             |   | ** ** | **12.75** |   |   |   | 11.17 |   |   |   | 11.06 |   |   |   | 12.59 |   |   |   | 13.83 |   |
|   Shareholders’                  equity to total assets        |   | ** ** | **11.14** |   |   |   | 10.93 |   |   |   | 9.51 |   |   |   | 11.00 |   |   |   | 10.84 |   |

----

**LIQUIDITY        MANAGEMENT AND CONTRACTUAL OBLIGATIONS**

***Liquidity        Management***

***Contractual        Obligations***

----

| **TABLE                  10.  CONTRACTUAL OBLIGATIONS**                                                                                                                                              |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                           | Payments                  due by period from December 31, 2007 |
|                                                                                                                                                                                                           |   | Less                  than | 1                  - 3 | 3                  – 5 | More                  than |
| *(in                  thousands)*                                                                                                                                                                              | Total | 1                  year | years | years | 5                  years |
| Operating                  lease obligations                                                                                                                                                                   | $  84,593 | $10,082 | $16,239 | $11,924 | $46,348 |
| Purchase                  obligations                                                                                                                                                                          | 26,910 | 12,804 | 9,648 | 4,458 | - |
| Long-term                  debt service(a)                                                                                                                                                                     | 248,721 | 17,629 | 17,625 | 23,811 | 189,656 |
| Other                  long-term liabilities (b)                  (c)                                                                                                                                          | - | - | - | - | - |
|    Total                                                                                                                                                                                        | $360,224 | $40,515 | $43,512 | $40,193 | $236,004 |
| *(a)   Principal                  payments on callable subordinated debentures are scheduled by expected                  call dates.*                                                          |
| *(b)   Obligations                  under the qualified defined benefit pension plan are not                  included.  Whitney anticipates making a                  pension*       |
| *        contribution                  of approximately $8 million during 2008.  No significant                  near-term payments are expected under the*  |
| *        unfunded                  nonqualified pension plan.  A $10.8 million nonqualified plan                  obligation was recorded at year-end 2007.* |
| *(c)  The                  recorded obligation for postretirement benefits other than pensions                  was                  $15.2 million at December 31, 2007.*                            |
| *       The                  funding to purchase benefits for current retirees, net of retiree                  contributions, has not been                  significant.*  |

**OFF-BALANCE        SHEET ARRANGEMENTS**

| **TABLE                  11.  CREDIT-RELATED COMMITMENTS** |                                                                   |
|----------------------------------------------------------------------|------------------------------------------------------------------------|
|                                                                 | Commitments                  expiring by period from December 31, 2007 |
|                                                                 |                                                                   | Less                  than | 1                  - 3 | 3                  - 5 | More                  than |
| * (in                thousands)*                                | Total                                                                  | 1                  year | years | years | 5                  years |
| Loan                  commitments – revolving                  | $2,475,656                                                             | $1,740,114 | $308,981 | $393,552 | $33,009 |
| Loan                  commitments – nonrevolving               | 534,673                                                                | 304,270 | 229,604 | 799 | - |
| Credit                  card and personal credit lines               | 551,748                                                                | 551,748 | - | - | - |
| Standby                  and other letters of credit                 | 391,922                                                                | 308,990 | 35,408 | 47,524 | - |
|    Total                                              | $3,953,999                                                             | $2,905,122 | $573,993 | $441,875 | $33,009 |

----

**ASSET/LIABILITY        MANAGEMENT**

----

**RESULTS        OF OPERATIONS**

**NET        INTEREST INCOME (TE)**

----

|                                                                                                                                                                     |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------|------------|----------------------------------------------------------------|----------|----------------------------------------------------------------|---------|--------|--------|--------|---------|--------|--------|----------|------------|---------|--------|--------|---------|---------|--------|--------|----------|--------|--------|--------|-----------|
| **TABLE                      12. SUMMARY OF AVERAGE BALANCE SHEETS, NET INTEREST INCOME(TE)(a) AND                      YIELDS                      AND RATES**     |   |
|                                                                                                                                                                     |   | Year                      Ended            |       | Year                      Ended            |     | Year                      Ended            |
| *(dollars                      in thousands)*                                                                                                                            |   | December                      31, 2007     |       | December                      31, 2006     |     | December                      31, 2005     |
|                                                                                                                                                                     |   | Average                                                        |       |                                                           |     |                                                           |    | Yield/ |   |   | Average |   |   |     |       |    | Yield/ |   |    | Average |   |   |     |   |   | Yield/ |      |
|                                                                                                                                                                     |   | Balance                                                        |       |                                                           | Interest |                                                           |    | Rate   |   |   | Balance |   |   | Interest |       |    | Rate   |   |    | Balance |   |   | Interest |   |   | Rate   |      |
| **ASSETS**                                                                                                                                                               |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |
| EARNING                      ASSETS                                                                                                                                      |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |
| Loans                      (TE)(b)                      (c)                                                                                                              |   | $                                                              | 7,364,777  |                                                           |     | $                                                              | 556,170 |   |   |   | 7.55    | %      |   | $        | 6,803,228  |    |   | $      | 504,162 |    |   |   | 7.41     | %      |   | $      | 6,174,972 |   |   | $ | 390,835 |   |   |   | 6.33 | % |
| Mortgage-backed                      securities                                                                                                                          |   |                                                           | 1,236,977  |                                                           |     |                                                           | 58,625  |   |   |   | 4.74    |   |   |     | 1,182,700  |    |   |   | 54,024  |    |   |   | 4.57     |   |   |   | 1,185,587 |   |   |   | 50,978 |   |   |   | 4.30 |   |
| U.S.                      agency securities                                                                                                                              |   |                                                           | 312,950    |                                                           |     |                                                           | 12,936  |   |   |   | 4.13    |   |   |     | 317,310    |    |   |   | 12,090  |    |   |   | 3.81     |   |   |   | 314,031   |   |   |   | 10,295 |   |   |   | 3.28 |   |
| U.S.                      Treasury securities                                                                                                                            |   |                                                           | 22,744     |                                                           |     |                                                           | 1,111   |   |   |   | 4.88    |   |   |     | 41,211     |    |   |   | 1,237   |    |   |   | 3.00     |   |   |   | 61,510    |   |   |   | 1,987 |   |   |   | 3.23 |   |
| Obligations                      of states and political                                                                                                                 |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |
|   subdivisions                      (TE)                                                                                                                       |   |                                                           | 285,388    |                                                           |     |                                                           | 16,964  |   |   |   | 5.94    |   |   |     | 249,035    |    |   |   | 15,106  |    |   |   | 6.07     |   |   |   | 236,782   |   |   |   | 14,579 |   |   |   | 6.16 |   |
| Other                      securities                                                                                                                                    |   |                                                           | 35,807     |                                                           |     |                                                           | 2,133   |   |   |   | 5.96    |   |   |     | 34,390     |    |   |   | 1,966   |    |   |   | 5.72     |   |   |   | 38,318    |   |   |   | 1,870 |   |   |   | 4.88 |   |
|      Total                      investment securities                                                                                           |   |                                                           | 1,893,866  |                                                           |     |                                                           | 91,769  |   |   |   | 4.85    |   |   |     | 1,824,646  |    |   |   | 84,423  |    |   |   | 4.63     |   |   |   | 1,836,228 |   |   |   | 79,709 |   |   |   | 4.34 |   |
| Federal                      funds sold and                                                                                                                              |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
|   short-term                      investments                                                                                                                  |   |                                                           | 377,943    |                                                           |     |                                                           | 19,243  |   |   |   | 5.09    |   |   |     | 721,388    |    |   |   | 33,998  |    |   |   | 4.71     |   |   |   | 87,798    |   |   |   | 3,421 |   |   |   | 3.90 |   |
|      Total                      earning assets                                                                                                  |   |                                                           | 9,636,586  |                                                           |     | $                                                              | 667,182 |   |   |   | 6.92    | %      |   |     | 9,349,262  |    |   | $      | 622,583 |    |   |   | 6.66     | %      |   |   | 8,098,998 |   |   | $ | 473,965 |   |   |   | 5.85 | % |
| NONEARNING                      ASSETS                                                                                                                                   |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
| Other                      assets                                                                                                                                        |   |                                                           | 954,840    |                                                           |     |                                                           |    |   |   |   |    |   |   |     | 978,761    |    |   |   |    |    |   |   |     |   |   |   | 870,447   |   |   |   |   |   |   |   |   |   |
| Allowance                      for loan losses                                                                                                                           |   |                                                           | (79,004    | )                                                              |     |                                                           |    |   |   |   |    |   |   |     | (85,185    | )       |   |   |    |    |   |   |     |   |   |   | (66,124   | ) |   |   |   |   |   |   |   |   |
|      Total                      assets                                                                                                          |   | $                                                              | 10,512,422 |                                                           |     |                                                           |    |   |   |   |    |   |   | $        | 10,242,838 |    |   |   |    |    |   |   |     |   |   | $      | 8,903,321 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                     |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
| **LIABILITIES                      AND**                                                                                                                                 |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
| **SHAREHOLDERS'                      EQUITY**                                                                                                                            |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |
| INTEREST-BEARING                      LIABILITIES                                                                                                                        |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |
| NOW                      account deposits                                                                                                                                |   | $                                                              | 1,034,811  |                                                           |     | $                                                              | 12,074  |   |   |   | 1.17    | %      |   | $        | 1,055,979  |    |   | $      | 8,210   |    |   |   | .78      | %      |   | $      | 919,722   |   |   | $ | 4,769 |   |   |   | .52 | % |
| Money                      market deposits                                                                                                                               |   |                                                           | 1,222,341  |                                                           |     |                                                           | 35,454  |   |   |   | 2.90    |   |   |     | 1,172,964  |    |   |   | 26,540  |    |   |   | 2.26     |   |   |   | 1,191,736 |   |   |   | 11,920 |   |   |   | 1.00 |   |
| Savings                      deposits                                                                                                                                    |   |                                                           | 920,028    |                                                           |     |                                                           | 8,879   |   |   |   | .97     |   |   |     | 1,123,647  |    |   |   | 11,384  |    |   |   | 1.01     |   |   |   | 829,777   |   |   |   | 5,986 |   |   |   | .72 |   |
| Other                      time deposits                                                                                                                                 |   |                                                           | 829,264    |                                                           |     |                                                           | 31,736  |   |   |   | 3.83    |   |   |     | 750,557    |    |   |   | 22,350  |    |   |   | 2.98     |   |   |   | 723,396   |   |   |   | 12,742 |   |   |   | 1.76 |   |
| Time                      deposits $100,000 and over                                                                                                                     |   |                                                           | 1,682,981  |                                                           |     |                                                           | 74,857  |   |   |   | 4.45    |   |   |     | 1,339,829  |    |   |   | 53,591  |    |   |   | 4.00     |   |   |   | 1,120,566 |   |   |   | 29,035 |   |   |   | 2.59 |   |
|      Total                      interest-bearing deposits                                                                                       |   |                                                           | 5,689,425  |                                                           |     |                                                           | 163,000 |   |   |   | 2.86    |   |   |     | 5,442,976  |    |   |   | 122,075 |    |   |   | 2.24     |   |   |   | 4,785,197 |   |   |   | 64,452 |   |   |   | 1.35 |   |
| Short-term                      and other borrowings                                                                                                                     |   |                                                           | 641,758    |                                                           |     |                                                           | 25,055  |   |   |   | 3.90    |   |   |     | 564,835    |    |   |   | 21,922  |    |   |   | 3.88     |   |   |   | 642,020   |   |   |   | 15,649 |   |   |   | 2.44 |   |
| Long-term                      debt                                                                                                                                      |   |                                                           | 136,459    |                                                           |     |                                                           | 8,259   |   |   |   | 6.05    |   |   |     | 18,010     |    |   |   | 1,163   |    |   |   | 6.46     |   |   |   | 19,662    |   |   |   | 885 |   |   |   | 4.50 |   |
|      Total                      interest-bearing liabilities                                                                                    |   |                                                           | 6,467,642  |                                                           |     | $                                                              | 196,314 |   |   |   | 3.04    | %      |   |     | 6,025,821  |    |   | $      | 145,160 |    |   |   | 2.41     | %      |   |   | 5,446,879 |   |   | $ | 80,986 |   |   |   | 1.49 | % |
| NONINTEREST-BEARING                                                                                                                                                      |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
|      LIABILITIES                      AND                                                                                                       |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
| SHAREHOLDERS'                      EQUITY                                                                                                                                |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |
| Demand                      deposits                                                                                                                                     |   |                                                           | 2,708,353  |                                                           |     |                                                           |    |   |   |   |    |   |   |     | 3,033,978  |    |   |   |    |    |   |   |     |   |   |   | 2,439,229 |   |   |   |   |   |   |   |   |   |
| Other                      liabilities                                                                                                                                   |   |                                                           | 126,504    |                                                           |     |                                                           |    |   |   |   |    |   |   |     | 117,736    |    |   |   |    |    |   |   |     |   |   |   | 81,851    |   |   |   |   |   |   |   |   |   |
| Shareholders'                      equity                                                                                                                                |   |                                                           | 1,209,923  |                                                           |     |                                                           |    |   |   |   |    |   |   |     | 1,065,303  |    |   |   |    |    |   |   |     |   |   |   | 935,362   |   |   |   |   |   |   |   |   |   |
|      Total                      liabilities and                                                                                                 |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
|        shareholders'                      equity                                                                                      |   | $                                                              | 10,512,422 |                                                           |     |                                                           |    |   |   |   |    |   |   | $        | 10,242,838 |    |   |   |    |    |   |   |     |   |   | $      | 8,903,321 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                     |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
| Net                      interest income and margin (TE)                                                                                                                 |   |                                                           | $          | 470,868                                                        |     |                                                           |    | 4.89   | %      |   |    |   |   |     | $          | 477,423 |   |   |    | 5.11    | %      |   |     |   |   |   | $         | 392,979 |   |   |   | 4.85 | % |
| Net                      earning assets and spread                                                                                                                       |   | $                                                              | 3,168,944  |                                                           |     |                                                           |    |   |   |   | 3.88    | %      |   | $        | 3,323,441  |    |   |   |    |    |   |   | 4.25     | %      |   | $      | 2,652,119 |   |   |   |   |   |   |   | 4.36 | % |
| Interest                      cost of funding                                                                                                                            |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
|   earning                      assets                                                                                                                          |   |                                                           |       |                                                           |     |                                                           |    |   |   |   | 2.03    | %      |   |     |       |    |   |   |    |    |   |   | 1.55     | %      |   |   |      |   |   |   |   |   |   |   | 1.00 | % |
|                                                                                                                                                                     |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |   |   |   |
| *(a)                      Tax-equivalent (TE) amounts are calculated using a marginal                      federal income                      tax rate of 35%.*         |   |                                                           |       |                                                           |     |                                                           |    |   |   |
| *(b)                      Includes loans held for sale.*                                                                                                                 |   |                                                           |       |                                                           |     |                                                           |    |   |   |   |    |   |   |     |       |    |   |   |    |    |   |   |     |   |   |   |      |   |   |   |   |   |   |
| *(c)                      Average balance includes nonaccruing loans of $66,051 in 2007,                      $59,622 in                      2006 and $26,848 in 2005.* |   |                                                           |       |                                                           |     |

----

|                                                                                                                                                                        |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------|---------|------------------------------------------------------------------|--------|------------------------------------------------------|--------|----------------|--------|------------|---------|------------------|--------|--------|--------|--------|--------|--------|
| **TABLE                      13. SUMMARY OF CHANGES IN NET INTEREST INCOME(TE)(a)                      (b)**                                                      |
|                                                                                                                                                                        |   | Year                    Ended December 31,                  |    | Year                    Ended December 31,                  |
|                                                                                                                                                                        |   | 2007                    Compared to 2006     |    | 2006                    Compared to 2005     |
|                                                                                                                                                                        |   | Due                    to                    |    | Total                                                       |   | Due                    to        |   | Total     |
|                                                                                                                                                                        |   | Change                    in                 |    | Increase                                                    |   | Change                    in     |   | Increase  |
| *(dollars                    in thousands)*                                                                                                                                 |   | Volume                                                      |    | Yield/Rate                                                  |   | (Decrease)                                      |   | Volume    |   | Rate  |    | (Decrease)  |
| **INTEREST                    INCOME (TE)**                                                                                                                                 |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |
| Loans                    (TE)                                                                                                                                               |   | $                                                                | 42,258  |                                                             |   | $                                                    | 9,750  |           |   | $          | 52,008  |             |   | $      | 42,300 |   |   | $      | 71,027 |   |   | $ | 113,327 |   |
| Mortgage-backed                    securities                                                                                                                               |   |                                                             | 2,530   |                                                             |   |                                                 | 2,071  |           |   |       | 4,601   |             |   |   | (124   | )      |   |   | 3,170 |   |   |   | 3,046 |   |
| U.S.                    agency securities                                                                                                                                   |   |                                                             | (168    | )                                                                |   |                                                 | 1,014  |           |   |       | 846     |             |   |   | 109    |   |   |   | 1,686 |   |   |   | 1,795 |   |
| U.S.                    Treasury securities                                                                                                                                 |   |                                                             | (699    | )                                                                |   |                                                 | 573    |           |   |       | (126    | )                |   |   | (618   | )      |   |   | (132 | ) |   |   | (750 | ) |
| Obligations                    of states and political                                                                                                                      |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |   |   |   |   |   |   |
|   subdivisions                    (TE)                                                                                                                            |   |                                                             | 2,166   |                                                             |   |                                                 | (308   | )              |   |       | 1,858   |             |   |   | 746    |   |   |   | (219 | ) |   |   | 527 |   |
| Other                    securities                                                                                                                                         |   |                                                             | 83      |                                                             |   |                                                 | 84     |           |   |       | 167     |             |   |   | (204   | )      |   |   | 300 |   |   |   | 96 |   |
|      Total                    investment securities                                                                                                |   |                                                             | 3,912   |                                                             |   |                                                 | 3,434  |           |   |       | 7,346   |             |   |   | (91    | )      |   |   | 4,805 |   |   |   | 4,714 |   |
| Federal                    funds sold and                                                                                                                                   |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |   |   |   |   |   |   |
|   short-term                    investments                                                                                                                       |   |                                                             | (17,299 | )                                                                |   |                                                 | 2,544  |           |   |       | (14,755 | )                |   |   | 29,714 |   |   |   | 863 |   |   |   | 30,577 |   |
|      Total                    interest income (TE)                                                                                                 |   |                                                             | 28,871  |                                                             |   |                                                 | 15,728 |           |   |       | 44,599  |             |   |   | 71,923 |   |   |   | 76,695 |   |   |   | 148,618 |   |
|                                                                                                                                                                        |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |   |   |   |   |   |   |
| **INTEREST                    EXPENSE**                                                                                                                                     |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW                    account deposits                                                                                                                                     |   |                                                             | (168    | )                                                                |   |                                                 | 4,032  |           |   |       | 3,864   |             |   |   | 787    |   |   |   | 2,654 |   |   |   | 3,441 |   |
| Money                    market deposits                                                                                                                                    |   |                                                             | 1,158   |                                                             |   |                                                 | 7,756  |           |   |       | 8,914   |             |   |   | (191   | )      |   |   | 14,811 |   |   |   | 14,620 |   |
| Savings                    deposits                                                                                                                                         |   |                                                             | (1,985  | )                                                                |   |                                                 | (520   | )              |   |       | (2,505  | )                |   |   | 2,520  |   |   |   | 2,878 |   |   |   | 5,398 |   |
| Other                    time deposits                                                                                                                                      |   |                                                             | 2,523   |                                                             |   |                                                 | 6,863  |           |   |       | 9,386   |             |   |   | 495    |   |   |   | 9,113 |   |   |   | 9,608 |   |
| Time                    deposits $100,000 and over                                                                                                                          |   |                                                             | 14,795  |                                                             |   |                                                 | 6,471  |           |   |       | 21,266  |             |   |   | 6,499  |   |   |   | 18,057 |   |   |   | 24,556 |   |
|      Total                    interest-bearing deposits                                                                                            |   |                                                             | 16,323  |                                                             |   |                                                 | 24,602 |           |   |       | 40,925  |             |   |   | 10,110 |   |   |   | 47,513 |   |   |   | 57,623 |   |
| Short-term                    borrowings                                                                                                                                    |   |                                                             | 3,003   |                                                             |   |                                                 | 130    |           |   |       | 3,133   |             |   |   | (2,069 | )      |   |   | 8,342 |   |   |   | 6,273 |   |
| Long-term                    debt                                                                                                                                           |   |                                                             | 7,174   |                                                             |   |                                                 | (78    | )              |   |       | 7,096   |             |   |   | (80    | )      |   |   | 358 |   |   |   | 278 |   |
|      Total                    interest expense                                                                                                     |   |                                                             | 26,500  |                                                             |   |                                                 | 24,654 |           |   |       | 51,154  |             |   |   | 7,961  |   |   |   | 56,213 |   |   |   | 64,174 |   |
|      Change                    in net interest income (TE)                                                                                         |   | $                                                                | 2,371   |                                                             |   | $                                                    | (8,926 | )              |   | $          | (6,555  | )                |   | $      | 63,962 |   |   | $      | 20,482 |   |   | $ | 84,444 |   |
|                                                                                                                                                                        |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |   |   |   |   |   |   |   |   |   |   |   |
| *(a)                    Tax-equivalent (TE) amounts are calculated using a marginal federal                    income                    tax rate of 35%.*                  |   |                                                             |    |                                                             |   |
| *(b)                    The change in interest shown as due to changes in either volume                    or rate                    includes an allocation of the amount* |   |
| *that                    reflects the interaction of volume and rate changes. This allocation                    is based on the absolute dollar*                      |   |
| *amounts                    of change due solely to changes in volume or rate.*                                                                                             |   |                                                             |    |                                                             |   |                                                 |   |           |   |       |    |             |   |

----

**PROVISION          FOR CREDIT LOSSES**

----

**NONINTEREST          INCOME**

| **TABLE                    14.  NONINTEREST  INCOME** |   |       |        |   |                            |       |    |   |   |   |                        |   |      |       |    |
|---------------------------------------------------------------------------|--------|------------|-------------|--------|---------------------------------|------------|---------|--------|--------|--------|-----------------------------|--------|-----------|------------|---------|
| *(dollars                    in thousands)*                               |   | **2007**   |        |   | **%                    change** |       |    | 2006   |   |   | %                    change |   |      | 2005       |    |
| Service                    charges on deposit accounts                    |   | **$**      | **30,676**  |   |                            | ** ** | **9**   | **%**  |   | $      | 28,058                      |   |      | ** ** | **(8**  | **)%** |   | $ | 30,579 |   |
| Bank                    card fees                                         |   | ** ** | **16,487**  |   |                            | ** ** | **10**  |   |   |   | 14,999                      |   |      | ** ** | **25**  |   |   |   | 11,972 |   |
| Trust                    service fees                                     |   | ** ** | **12,969**  |   |                            | ** ** | **15**  |   |   |   | 11,268                      |   |      | ** ** | **19**  |   |   |   | 9,483 |   |
| Secondary                    mortgage market operations                   |   | ** ** | **4,915**   |   |                            | ** ** | **(6**  | **)**  |   |   | 5,254                       |   |      | ** ** | **5**   |   |   |   | 5,022 |   |
| Credit-related                    fees                                    |   | ** ** | **5,417**   |   |                            | ** ** | **2**   |   |   |   | 5,307                       |   |      | ** ** | **6**   |   |   |   | 5,029 |   |
| Investment                    services income                             |   | ** ** | **5,836**   |   |                            | ** ** | **17**  |   |   |   | 4,994                       |   |      | ** ** | **37**  |   |   |   | 3,655 |   |
| ATM                    fees                                               |   | ** ** | **5,374**   |   |                            | ** ** | **4**   |   |   |   | 5,154                       |   |      | ** ** | **26**  |   |   |   | 4,085 |   |
| Other                    fees and charges                                 |   | ** ** | **4,818**   |   |                            | ** ** | **7**   |   |   |   | 4,511                       |   |      | ** ** | **13**  |   |   |   | 3,745 |   |
| Other                    operating income                                 |   | ** ** | **35,181**  |   |                            | ** ** | **999** |   |   |   | 3,201                       |   |      | ** ** | **(25** | **)** |   |   | 4,536 |   |
| Net                    gain on sales and other                            |   |       |        |   |                            |       |    |   |   |   |                        |   |      |       |    |   |   |   |   |   |
|    revenue                    from foreclosed assets       |   | ** ** | **5,109**   |   |                            | ***(a)***  |    |   |   | 2,102  |                        |   | ***(a)*** |       |    |   | 2,692 |   |
| Net                    gain (loss) on disposals of surplus property       |   | ** ** | **(100**    | **)**  |                            | ***(a)***  |    |   |   | (57    | )                           |   | ***(a)*** |       |    |   | 1,369 |   |
| Securities                    transactions                                |   | ** ** | **(1**      | **)**  |                            | ***(a)***  |    |   |   | -      |                        |   | ***(a)*** |       |    |   | 68 |   |
|   Total                    noninterest income                   |   | **$**      | **126,681** |   |                            | ** ** | **49**  | **%**  |   | $      | 84,791                      |   |      | ** ** | **3**   | **%** |   | $ | 82,235 |   |
| *(a)                    Percentage change not meaningful.*                |   |       |        |   |                            |       |    |   |   |   |                        |   |      |       |    |   |   |   |   |   |

----

----

**NONINTEREST          EXPENSE**

| **TABLE                    15.  NONINTEREST  EXPENSE** |   |       |        |   |                            |       |    |   |   |   |                        |   |   |   |   |
|----------------------------------------------------------------------------|--------|------------|-------------|--------|---------------------------------|------------|---------|--------|--------|--------|-----------------------------|--------|--------|--------|--------|
| *(dollars                    in thousands)*                                |   | **2007**   |        |   | **%                    change** |       |    | 2006   |   |   | %                    change |   |   | 2005   |   |
| Employee                    compensation                                   |   | **$**      | **159,850** |   |                            | ** ** | **10**  | **%**  |   | $      | 145,189                     |   |   |   | 10     | % |   | $ | 132,488 |   |
| Employee                    benefits                                       |   | ** ** | **33,694**  |   |                            | ** ** | **(4**  | **)**  |   |   | 35,027                      |   |   |   | 6      |   |   |   | 33,020 |   |
|   Total                    personnel                             |   | ** ** | **193,544** |   |                            | ** ** | **7**   |   |   |   | 180,216                     |   |   |   | 9      |   |   |   | 165,508 |   |
| Net                    occupancy                                           |   | ** ** | **33,568**  |   |                            | ** ** | **13**  |   |   |   | 29,836                      |   |   |   | 31     |   |   |   | 22,846 |   |
| Equipment                    and data processing                           |   | ** ** | **22,886**  |   |                            | ** ** | **9**   |   |   |   | 21,083                      |   |   |   | 22     |   |   |   | 17,344 |   |
| Telecommunication                    and postage                           |   | ** ** | **12,420**  |   |                            | ** ** | **15**  |   |   |   | 10,795                      |   |   |   | 18     |   |   |   | 9,154 |   |
| Corporate                    value and franchise taxes                     |   | ** ** | **9,571**   |   |                            | ** ** | **9**   |   |   |   | 8,780                       |   |   |   | 12     |   |   |   | 7,824 |   |
| Legal                    and other professional services                   |   | ** ** | **10,652**  |   |                            | ** ** | **(9**  | **)**  |   |   | 11,663                      |   |   |   | 91     |   |   |   | 6,091 |   |
| Amortization                    of intangibles                             |   | ** ** | **10,879**  |   |                            | ** ** | **4**   |   |   |   | 10,426                      |   |   |   | 26     |   |   |   | 8,261 |   |
| Security                    and other outsourced services                  |   | ** ** | **15,735**  |   |                            | ** ** | **7**   |   |   |   | 14,755                      |   |   |   | 41     |   |   |   | 10,493 |   |
| Advertising                    and promotion                               |   | ** ** | **4,740**   |   |                            | ** ** | **(32** | **)**  |   |   | 6,999                       |   |   |   | 58     |   |   |   | 4,436 |   |
| Operating                    supplies                                      |   | ** ** | **4,120**   |   |                            | ** ** | **(7**  | **)**  |   |   | 4,419                       |   |   |   | 15     |   |   |   | 3,853 |   |
| Bank                    card processing services                           |   | ** ** | **4,008**   |   |                            | ** ** | **14**  |   |   |   | 3,508                       |   |   |   | 16     |   |   |   | 3,036 |   |
| Deposit                    insurance and regulatory fees                   |   | ** ** | **2,462**   |   |                            | ** ** | **(1**  | **)**  |   |   | 2,494                       |   |   |   | 15     |   |   |   | 2,160 |   |
| Miscellaneous                    operating losses                          |   | ** ** | **4,140**   |   |                            | ** ** | **(51** | **)**  |   |   | 8,449                       |   |   |   | 40     |   |   |   | 6,044 |   |
| Other                    operating expense                                 |   | ** ** | **20,383**  |   |                            | ** ** | **(19** | **)**  |   |   | 25,050                      |   |   |   | 29     |   |   |   | 19,348 |   |
|   Total                    noninterest expense                   |   | **$**      | **349,108** |   |                            | ** ** | **3**   | **%**  |   | $      | 338,473                     |   |   |   | 18     | % |   | $ | 286,398 |   |

----

*Share-Based Payment,*

----

----

**INCOME          TAXES**

| **TABLE                    16.  INCOME TAXES**                |   |       |       |
|-------------------------------------------------------------------------|--------|------------|------------|
| *(in                    thousands)*                                     |   | **2007**   |       |   | 2006 |   |   | 2005 |   |
| Income                    tax expense at 35% of pre-tax income          |   | **$**      | **78,877** |   |   | $ | 74,833 |   |   | $ | 50,875 |   |
| Increase                    (decrease) resulting from                   |   |       |       |   |   |   |   |   |   |   |   |   |
|   Tax                    exempt income                        |   | ** ** | **(3,432** | **)** |   |   | (3,626 | ) |   |   | (3,630 | ) |
|   Low                    income housing credits               |   | ** ** | **(2,408** | **)** |   |   | (2,342 | ) |   |   | (2,387 | ) |
|   Disaster-relief                    credit                   |   | ** ** | **(377**   | **)** |   |   | (704 | ) |   |   | (1,900 | ) |
|   State                    income tax and miscellaneous items |   | ** ** | **1,650**  |   |   |   | 1,003 |   |   |   | 49 |   |
| Income                    tax expense reported                          |   | **$**      | **74,310** |   |   | $ | 69,164 |   |   | $ | 43,007 |   |

----

**FOURTH          QUARTER RESULTS**

| ·   | Whitney’s                    net interest income (TE) decreased less than 1%, or $.7 million,                    from the                    fourth quarter of 2006.  Average earning assets increased 8%                    between these periods, with little change in the mix of                    assets.  The net interest margin (TE) was 4.75% for the fourth                    quarter of 2007, down 39 basis points from the year-earlier                    period.  The overall yield on earning assets decreased 21 basis                    points, mainly reflecting a decline between these periods in                    benchmark                    rates for the large variable-rate segment of Whitney’s loan portfolio and                    the impact of a higher level of nonaccruing loans in the most                    recent                    period.  The cost of funds increased 18 basis points between the                    fourth quarters of 2006 and 2007, mainly in response to the                    customer-driven shift in the funding mix toward higher-cost                    sources.  Net interest income (TE) for the fourth quarter of                    2007 was also down less than 1%, or $.5 million, from the third                    quarter of                    2007.  Average earning assets increased 1% between these                    periods, while the net interest margin decreased 7 basis                    points.  There was some favorable mix of earning assets between                    these periods, but the funding mix was little                    changed. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Whitney                    provided $10.0 million for credit losses in the fourth quarter                    of 2007,                    compared to $1.0 million provision in the fourth quarter of                    2006.  Loan charge-offs, net of recoveries, totaled $3.9 million                    in 2007’s fourth quarter, or .21% of average loans on an annualized                    basis.  The allowance for loans losses increased to 1.16% of                    total loans at December 31, 2007.  The total of loans criticized                    through the Company’s credit risk-rating process increased $47 million                    during the fourth quarter of 2007, mainly related to loans for                    residential                    development and investment and other residential                    purposes. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Noninterest                    income increased 15%, or $3.1 million, from the fourth quarter                    of 2006,                    with gains noted in almost all recurring revenue                    sources.  Deposit service charge income was up 12%, or $.9                    million, driven mainly by improved pricing.  Bank card fees                    increased 14%, or $.5 million, compared to the fourth quarter                    of 2006 on                    higher transaction volumes.  Trust service fees grew 8% and                    revenue from secondary mortgage market operations was up                    14%.  Fees from investment services in the fourth quarter of                    2007 also compared favorably to the year-earlier                    period. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Noninterest                    expense in the fourth quarter of 2007 decreased 2%, or $1.4 million,                    from                    2006’s fourth quarter.  The incremental expense associated with                    acquired operations totaled approximately $1.9 million in the                    fourth                    quarter of 2007, including amortization of acquired                    intangibles.  Whitney’s personnel expense increased 8%, or $3.6                    million, in total, including $.9 million for the staff of acquired                    operations.  $1.5 million of the increase in personnel expense                    was associated with management incentive programs, mainly related                    to                    share-based incentives, and an additional $1.0 million came from                    employee                    incentive plans.  Each of these partly reflected the impact of                    updates to annual performance factor estimates in each quarterly                    period.  Excluding the impact of acquisitions, the average                    full-time equivalent staff level declined approximately 2% between                    these                    periods, with staff reductions identified under cost control                    programs.  The total of all other noninterest expense unrelated                    to personnel decreased a net $5.0 million, or 12%, compared to                    the fourth                    quarter of 2006.  Expenses in the prior year’s quarter included                    $2.1 million of nonrecurring or periodic expense either directly                    associated with the 2005 storms or associated with the Company’s efforts                    to reduce its disaster-risk profile.  In the fourth quarter of                    2007, Whitney recorded a pre-tax charge of $1.0 million to establish                    a                    liability with respect to its obligation as a member of Visa                    USA, Inc. to                    share in certain of Visa’s litigation                    losses. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Item          7A: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET          RISK**

----

| **Item                      8: FINANCIAL STATEMENTS AND SUPPLEMENTARY                      DATA** |   |                                                                                     |           |          |   |          |           |
|--------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------|----------------|---------------|--------|---------------|----------------|
|                                                                                                   |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |
| **SUMMARY                      OF QUARTERLY FINANCIAL INFORMATION (Unaudited)**                        |   |                                                                                     |           |          |   |          |           |
|                                                                                                   |   | **2007                      Quarters**                |
| *(dollars                      in thousands, except per share data)*                                   |   | **4th**                                                                             |           | **3rd**  |   | **2nd**  |           | **1st**  |
| Net                      interest income                                                               |   | **$**                                                                                    | **116,336**    |          |   | **$**         | **116,718**    |   |   | **$** | **116,896** |   |   | **$** | **114,841** |   |
| Net                      interest income (TE)                                                          |   | ** **                                                                               | **117,782**    |          |   | ** **    | **118,245**    |   |   | ** ** | **118,444** |   |   | ** ** | **116,397** |   |
| Provision                      for credit losses                                                       |   | ** **                                                                               | **10,000**     |          |   | ** **    | **9,000**      |   |   | ** ** | **-** |   |   | ** ** | **(2,000** | **)** |
| Noninterest                      income                                                                |   | ** **                                                                               | **24,080**     |          |   | ** **    | **54,455**     |   |   | ** ** | **24,097** |   |   | ** ** | **24,049** |   |
|   Net                      securities gains in noninterest income                            |   | ** **                                                                               | **-**          |          |   | ** **    | **(1**         | **)** |   | ** ** | **-** |   |   | ** ** | **-** |   |
| Noninterest                      expense                                                               |   | ** **                                                                               | **85,774**     |          |   | ** **    | **88,229**     |   |   | ** ** | **88,661** |   |   | ** ** | **86,444** |   |
| Income                      tax expense                                                                |   | ** **                                                                               | **14,398**     |          |   | ** **    | **25,178**     |   |   | ** ** | **17,280** |   |   | ** ** | **17,454** |   |
| Net                      income                                                                        |   | **$**                                                                                    | **30,244**     |          |   | **$**         | **48,766**     |   |   | **$** | **35,052** |   |   | **$** | **36,992** |   |
| Average                      balances                                                                  |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     Total                      assets                                              |   | **$**                                                                                    | **10,716,391** |          |   | **$**         | **10,633,674** |   |   | **$** | **10,558,237** |   |   | **$** | **10,133,651** |   |
|     Earning                      assets                                            |   | ** **                                                                               | **9,857,897**  |          |   | ** **    | **9,746,184**  |   |   | ** ** | **9,665,684** |   |   | ** ** | **9,268,902** |   |
|     Loans                                                                          |   | ** **                                                                               | **7,542,040**  |          |   | ** **    | **7,362,491**  |   |   | ** ** | **7,352,171** |   |   | ** ** | **7,118,002** |   |
|     Deposits                                                                       |   | ** **                                                                               | **8,406,547**  |          |   | ** **    | **8,480,098**  |   |   | ** ** | **8,479,666** |   |   | ** ** | **8,221,857** |   |
|     Shareholders'                      equity                                      |   | ** **                                                                               | **1,257,220**  |          |   | ** **    | **1,224,940**  |   |   | ** ** | **1,211,032** |   |   | ** ** | **1,145,101** |   |
| Ratios                                                                                                 |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     Return                      on average assets                                  |   | ** **                                                                               | **1.12**       | **%**         |   | ** **    | **1.82**       | **%** |   | ** ** | **1.33** | **%** |   | ** ** | **1.48** | **%** |
|     Return                      on average equity                                  |   | ** **                                                                               | **9.54**       |          |   | ** **    | **15.79**      |   |   | ** ** | **11.61** |   |   | ** ** | **13.10** |   |
|     Net                      interest margin                                       |   | ** **                                                                               | **4.75**       |          |   | ** **    | **4.82**       |   |   | ** ** | **4.91** |   |   | ** ** | **5.08** |   |
| Earnings                      per share                                                                |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     Basic                                                                          |   | **$**                                                                                    | **.45**        |          |   | **$**         | **.72**        |   |   | **$** | **.52** |   |   | **$** | **.56** |   |
|     Diluted                                                                        |   | ** **                                                                               | **.45**        |          |   | ** **    | **.71**        |   |   | ** ** | **.51** |   |   | ** ** | **.55** |   |
| Cash                      dividends per share                                                          |   | ** **                                                                               | **.29**        |          |   | ** **    | **.29**        |   |   | ** ** | **.29** |   |   | ** ** | **.29** |   |
| Trading                      data                                                                      |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     High                      price                                                |   | **$**                                                                                    | **28.35**      |          |   | **$**         | **30.32**      |   |   | **$** | **31.92** |   |   | **$** | **33.26** |   |
|     Low                      price                                                 |   | ** **                                                                               | **22.46**      |          |   | ** **    | **23.02**      |   |   | ** ** | **29.69** |   |   | ** ** | **29.07** |   |
|     End-of-period                      closing price                               |   | ** **                                                                               | **26.15**      |          |   | ** **    | **26.38**      |   |   | ** ** | **30.10** |   |   | ** ** | **30.58** |   |
|     Trading                      volume                                            |   | ** **                                                                               | **30,514,264** |          |   | ** **    | **28,674,777** |   |   | ** ** | **13,035,329** |   |   | ** ** | **16,256,098** |   |
|                                                                                                   |   | 2006                      Quarters          |
| *(dollars                      in thousands, except per share data)*                                   |   | 4th                                                                                 |           | 3rd      |   | 2nd      |           | 1st  |
| Net                      interest income                                                               |   | $                                                                                        | 116,954        |          |   | $             | 119,771        |   |   | $ | 121,249 |   |   | $ | 113,237 |   |
| Net                      interest income (TE)                                                          |   |                                                                                     | 118,531        |          |   |          | 121,344        |   |   |   | 122,804 |   |   |   | 114,744 |   |
| Provision                      for credit losses                                                       |   |                                                                                     | 1,000          |          |   |          | -              |   |   |   | 760 |   |   |   | 1,960 |   |
| Noninterest                      income                                                                |   |                                                                                     | 21,024         |          |   |          | 21,348         |   |   |   | 21,243 |   |   |   | 21,176 |   |
|   Net                      securities gains in noninterest income                            |   |                                                                                     | -              |          |   |          | -              |   |   |   | - |   |   |   | - |   |
| Noninterest                      expense                                                               |   |                                                                                     | 87,170         |          |   |          | 89,230         |   |   |   | 82,933 |   |   |   | 79,140 |   |
| Income                      tax expense                                                                |   |                                                                                     | 15,916         |          |   |          | 16,698         |   |   |   | 19,386 |   |   |   | 17,164 |   |
| Net                      income                                                                        |   | $                                                                                        | 33,892         |          |   | $             | 35,191         |   |   | $ | 39,413 |   |   | $ | 36,149 |   |
| Average                      balances                                                                  |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     Total                      assets                                              |   | $                                                                                        | 10,039,062     |          |   | $             | 10,218,601     |   |   | $ | 10,552,631 |   |   | $ | 10,162,685 |   |
|     Earning                      assets                                            |   |                                                                                     | 9,162,597      |          |   |          | 9,320,563      |   |   |   | 9,665,927 |   |   |   | 9,249,232 |   |
|     Loans                                                                          |   |                                                                                     | 6,960,981      |          |   |          | 6,837,875      |   |   |   | 6,792,224 |   |   |   | 6,510,471 |   |
|     Deposits                                                                       |   |                                                                                     | 8,179,884      |          |   |          | 8,399,368      |   |   |   | 8,790,845 |   |   |   | 8,542,554 |   |
|     Shareholders'                      equity                                      |   |                                                                                     | 1,126,915      |          |   |          | 1,095,628      |   |   |   | 1,061,216 |   |   |   | 975,456 |   |
| Ratios                                                                                                 |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     Return                      on average assets                                  |   |                                                                                     | 1.34           | %             |   |          | 1.37           | % |   |   | 1.50 | % |   |   | 1.44 | % |
|     Return                      on average equity                                  |   |                                                                                     | 11.93          |          |   |          | 12.74          |   |   |   | 14.90 |   |   |   | 15.03 |   |
|     Net                      interest margin                                       |   |                                                                                     | 5.14           |          |   |          | 5.17           |   |   |   | 5.09 |   |   |   | 5.02 |   |
| Earnings                      per share                                                                |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     Basic                                                                          |   | $                                                                                        | .52            |          |   | $             | .54            |   |   | $ | .61 |   |   | $ | .58 |   |
|     Diluted                                                                        |   |                                                                                     | .51            |          |   |          | .53            |   |   |   | .60 |   |   |   | .57 |   |
| Cash                      dividends per share                                                          |   |                                                                                     | .27            |          |   |          | .27            |   |   |   | .27 |   |   |   | .27 |   |
| Trading                      data                                                                      |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |   |   |   |
|     High                      price                                                |   | $                                                                                        | 35.88          |          |   | $             | 37.00          |   |   | $ | 37.26 |   |   | $ | 36.17 |   |
|     Low                      price                                                 |   |                                                                                     | 31.23          |          |   |          | 34.42          |   |   |   | 33.80 |   |   |   | 27.27 |   |
|     End-of-period                      closing price                               |   |                                                                                     | 32.62          |          |   |          | 35.77          |   |   |   | 35.37 |   |   |   | 35.46 |   |
|     Trading                      volume                                            |   |                                                                                     | 14,308,855     |          |   |          | 10,339,045     |   |   |   | 13,719,163 |   |   |   | 14,411,128 |   |
| *All                      prices as reported on The Nasdaq Global Select                      Market.* |   |                                                                                     |           |          |   |          |           |   |   |   |   |   |   |

----

**MANAGEMENT’S          REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING**

*Internal Control – Integrated          Framework*

----

**REPORT          OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

*Internal Control          -          Integrated Framework*

----

| **WHITNEY                HOLDING CORPORATION AND SUBSIDIARIES**                                                    |
|--------------------------------------------------------------------------------------------------------------------------------------------------|
| **CONSOLIDATED                BALANCE SHEETS**                                                                     |
|                                                                                                                                             |   |   |   |   |   |   |
|                                                                                                                                             |   | **December                31**  |   | December                31  |
| *(dollars                in thousands)*                                                                                                          |   | **2007**  |   | 2006  |
|                                                                                                                                             |   |   |   |   |   |   |
| ASSETS                                                                                                                                           |   |   |   |   |   |   |
|   Cash                and due from financial institutions                                                                              |   | **$** | **290,199** |   |   | $ | 318,165 |   |
|   Federal                funds sold and short-term investments                                                                         |   | ** ** | **534,558** |   |   |   | 314,079 |   |
|   Loans                held for sale                                                                                                   |   | ** ** | **16,575** |   |   |   | 26,966 |   |
|   Investment                securities                                                                                                 |   |   |   |   |   |   |   |   |
|     Securities                available for sale                                                                             |   | ** ** | **1,698,795** |   |   |   | 1,612,513 |   |
|     Securities                held to maturity, fair values of  $288,444 and $273,793,                respectively |   | ** ** | **286,442** |   |   |   | 273,580 |   |
|       Total                investment securities                                                                   |   | ** ** | **1,985,237** |   |   |   | 1,886,093 |   |
|   Loans,                net of unearned income                                                                                         |   | ** ** | **7,585,701** |   |   |   | 7,050,416 |   |
|     Allowance                for loan losses                                                                                 |   | ** ** | **(87,909** | **)** |   |   | (75,927 | ) |
|       Net                loans                                                                                     |   | ** ** | **7,497,792** |   |   |   | 6,974,489 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
|   Bank                premises and equipment                                                                                           |   | ** ** | **190,095** |   |   |   | 175,109 |   |
|   Goodwill                                                                                                                             |   | ** ** | **331,295** |   |   |   | 291,876 |   |
|   Other                intangible assets                                                                                               |   | ** ** | **17,103** |   |   |   | 23,327 |   |
|   Accrued                interest receivable                                                                                           |   | ** ** | **44,860** |   |   |   | 48,130 |   |
|   Other                assets                                                                                                          |   | ** ** | **119,550** |   |   |   | 127,646 |   |
|       Total                assets                                                                                  |   | **$** | **11,027,264** |   |   | $ | 10,185,880 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| LIABILITIES                                                                                                                                      |   |   |   |   |   |   |   |   |
|   Noninterest-bearing                demand deposits                                                                                   |   | **$** | **2,740,019** |   |   | $ | 2,947,997 |   |
|   Interest-bearing                deposits                                                                                             |   | ** ** | **5,843,770** |   |   |   | 5,485,311 |   |
|       Total                deposits                                                                                |   | ** ** | **8,583,789** |   |   |   | 8,433,308 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
|   Short-term                borrowings                                                                                                 |   | ** ** | **910,019** |   |   |   | 499,533 |   |
|   Long-term                debt                                                                                                        |   | ** ** | **165,455** |   |   |   | 17,394 |   |
|   Accrued                interest payable                                                                                              |   | ** ** | **27,079** |   |   |   | 17,940 |   |
|   Accrued                expenses and other liabilities                                                                                |   | ** ** | **112,186** |   |   |   | 104,743 |   |
|       Total                liabilities                                                                             |   | ** ** | **9,798,528** |   |   |   | 9,072,918 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| SHAREHOLDERS'                EQUITY                                                                                                              |   |   |   |   |   |   |   |   |
|   Common                stock, no par value                                                                                            |   |   |   |   |   |   |   |   |
|     Authorized                - 100,000,000 shares                                                                           |   |   |   |   |   |   |   |   |
|     Issued                - 67,713,296 and 66,103,275 shares, respectively                                                   |   | ** ** | **2,800** |   |   |   | 2,800 |   |
|   Capital                surplus                                                                                                       |   | ** ** | **408,266** |   |   |   | 343,697 |   |
|   Retained                earnings                                                                                                     |   | ** ** | **885,792** |   |   |   | 812,644 |   |
|   Accumulated                other comprehensive loss                                                                                  |   | ** ** | **(18,803** | **)** |   |   | (41,015 | ) |
|   Treasury                stock at cost - 1,887,780 and 173,211 shares, respectively                                                   |   | ** ** | **(49,319** | **)** |   |   | (5,164 | ) |
|       Total                shareholders' equity                                                                    |   | ** ** | **1,228,736** |   |   |   | 1,112,962 |   |
|       Total                liabilities and shareholders' equity                                                    |   | **$** | **11,027,264** |   |   | $ | 10,185,880 |   |
| *The                accompanying notes are an integral part of these financial                statements.*                                       |   |   |   |   |   |   |   |   |

----

| **WHITNEY                  HOLDING CORPORATION AND SUBSIDIARIES**                                         |
|----------------------------------------------------------------------------------------------------------------|
| **CONSOLIDATED                  STATEMENTS OF INCOME**                                                    |
|                                                                                                           |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   | *Years                  Ended December 31*     |
| *(dollars                  in thousands, except per share data)*                                               |   | **2007**  |   | 2006  |   | 2005  |
| INTEREST                  INCOME                                                                               |   |   |   |   |   |   |   |   |   |
|   Interest                  and fees on loans                                                        |   | **$** | **554,991** |   |   | $ | 502,921 |   |   | $ | 390,058 |   |
|   Interest                  and dividends on investment securities                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Taxable                  securities                                                    |   | ** ** | **77,774** |   |   |   | 70,218 |   |   |   | 65,130 |   |
|     Tax-exempt                  securities                                                 |   | ** ** | **9,097** |   |   |   | 9,234 |   |   |   | 9,476 |   |
|   Interest                  on federal funds sold and short-term investments                         |   | ** ** | **19,243** |   |   |   | 33,998 |   |   |   | 3,421 |   |
|     Total                  interest income                                                 |   | ** ** | **661,105** |   |   |   | 616,371 |   |   |   | 468,085 |   |
| INTEREST                  EXPENSE                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|   Interest                  on deposits                                                              |   | ** ** | **163,000** |   |   |   | 122,075 |   |   |   | 64,452 |   |
|   Interest                  on short-term borrowings                                                 |   | ** ** | **25,055** |   |   |   | 21,922 |   |   |   | 15,649 |   |
|   Interest                  on long-term debt                                                        |   | ** ** | **8,259** |   |   |   | 1,163 |   |   |   | 885 |   |
|     Total                  interest expense                                                |   | ** ** | **196,314** |   |   |   | 145,160 |   |   |   | 80,986 |   |
| NET                  INTEREST INCOME                                                                           |   | ** ** | **464,791** |   |   |   | 471,211 |   |   |   | 387,099 |   |
| PROVISION                  FOR CREDIT LOSSES                                                                   |   | ** ** | **17,000** |   |   |   | 3,720 |   |   |   | 37,580 |   |
| NET                  INTEREST INCOME AFTER PROVISION                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|   FOR                  CREDIT LOSSES                                                                 |   | ** ** | **447,791** |   |   |   | 467,491 |   |   |   | 349,519 |   |
| NONINTEREST                  INCOME                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|   Service                  charges on deposit accounts                                               |   | ** ** | **30,676** |   |   |   | 28,058 |   |   |   | 30,579 |   |
|   Bank                  card fees                                                                    |   | ** ** | **16,487** |   |   |   | 14,999 |   |   |   | 11,972 |   |
|   Trust                  service fees                                                                |   | ** ** | **12,969** |   |   |   | 11,268 |   |   |   | 9,483 |   |
|   Secondary                  mortgage market operations                                              |   | ** ** | **4,915** |   |   |   | 5,254 |   |   |   | 5,022 |   |
|   Other                  noninterest income                                                          |   | ** ** | **61,635** |   |   |   | 25,212 |   |   |   | 25,111 |   |
|   Securities                  transactions                                                           |   | ** ** | **(1** | **)** |   |   | - |   |   |   | 68 |   |
|     Total                  noninterest income                                              |   | ** ** | **126,681** |   |   |   | 84,791 |   |   |   | 82,235 |   |
| NONINTEREST                  EXPENSE                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|   Employee                  compensation                                                             |   | ** ** | **159,850** |   |   |   | 145,189 |   |   |   | 132,488 |   |
|   Employee                  benefits                                                                 |   | ** ** | **33,694** |   |   |   | 35,027 |   |   |   | 33,020 |   |
|     Total                  personnel                                                       |   | ** ** | **193,544** |   |   |   | 180,216 |   |   |   | 165,508 |   |
|   Net                  occupancy                                                                     |   | ** ** | **33,568** |   |   |   | 29,836 |   |   |   | 22,846 |   |
|   Equipment                  and data processing                                                     |   | ** ** | **22,886** |   |   |   | 21,083 |   |   |   | 17,344 |   |
|   Telecommunication                  and postage                                                     |   | ** ** | **12,420** |   |   |   | 10,795 |   |   |   | 9,154 |   |
|   Corporate                  value and franchise taxes                                               |   | ** ** | **9,571** |   |   |   | 8,780 |   |   |   | 7,824 |   |
|   Legal                  and other professional services                                             |   | ** ** | **10,652** |   |   |   | 11,663 |   |   |   | 6,091 |   |
|   Amortization                  of intangibles                                                       |   | ** ** | **10,879** |   |   |   | 10,426 |   |   |   | 8,261 |   |
|   Other                  noninterest expense                                                         |   | ** ** | **55,588** |   |   |   | 65,674 |   |   |   | 49,370 |   |
|     Total                  noninterest expense                                             |   | ** ** | **349,108** |   |   |   | 338,473 |   |   |   | 286,398 |   |
| INCOME                  BEFORE INCOME TAXES                                                                    |   | ** ** | **225,364** |   |   |   | 213,809 |   |   |   | 145,356 |   |
| INCOME                  TAX EXPENSE                                                                            |   | ** ** | **74,310** |   |   |   | 69,164 |   |   |   | 43,007 |   |
| NET                  INCOME                                                                                    |   | **$** | **151,054** |   |   | $ | 144,645 |   |   | $ | 102,349 |   |
| EARNINGS                  PER SHARE                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|   Basic                                                                                              |   | **$** | **2.26** |   |   | $ | 2.24 |   |   | $ | 1.65 |   |
|   Diluted                                                                                            |   | ** ** | **2.23** |   |   |   | 2.20 |   |   |   | 1.63 |   |
| WEIGHTED-AVERAGE                  SHARES OUTSTANDING                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|   Basic                                                                                              |   | ** ** | **66,953,343** |   |   |   | 64,687,363 |   |   |   | 62,008,004 |   |
|   Diluted                                                                                            |   | ** ** | **67,858,307** |   |   |   | 65,853,149 |   |   |   | 62,953,293 |   |
| CASH                  DIVIDENDS PER SHARE                                                                      |   | **$** | **1.16** |   |   | $ | 1.08 |   |   | $ | .98 |   |
| *The                  accompanying notes are an integral part of these financial                  statements.* |   |   |   |   |   |   |   |   |   |

----

| **WHITNEY                  HOLDING CORPORATION AND SUBSIDIARIES**                                         |
|----------------------------------------------------------------------------------------------------------------|
| **CONSOLIDATED                  STATEMENTS OF CHANGES IN SHAREHOLDERS'                  EQUITY**          |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   | Accumulated  |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   | Other  |   |   |   |   |   |   |
|                                                                                                           |   | Common  |   | Capital  |   | Retained  |   | Comprehensive  |   | Treasury  |   |   |   |
| *(dollars                  in thousands, except per share data)*                                          | Stock  |   | Surplus  |   | Earnings  |   | Income                  (Loss)  |   | Stock  |   | Total  |
| Balance                  at December 31, 2004                                                                  |   | $ | 2,800 |   |   | $ | 238,426 |   |   | $ | 697,977 |   |   | $ | (2,963 | ) |   | $ | (31,475 | ) |   | $ | 904,765 |   |
| Comprehensive                  income:                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income                                                                                    |   |   | - |   |   |   | - |   |   |   | 102,349 |   |   |   | - |   |   |   | - |   |   |   | 102,349 |   |
| Other                  comprehensive loss:                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                  net holding loss on securities,                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   net                  of reclassifications and tax                                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (17,268 | ) |   |   | - |   |   |   | (17,268 | ) |
| Change                  in minimum pension liability, net of tax                                               |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (992 | ) |   |   | - |   |   |   | (992 | ) |
| Total                  comprehensive income                                                                    |   |   | - |   |   |   | - |   |   |   | 102,349 |   |   |   | (18,260 | ) |   |   | - |   |   |   | 84,089 |   |
| Cash                  dividends, $.98 per share                                                                |   |   | - |   |   |   | - |   |   |   | (61,671 | ) |   |   | - |   |   |   | - |   |   |   | (61,671 | ) |
| Stock                  acquired under repurchase program                                                       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (46,669 | ) |   |   | (46,669 | ) |
| Stock                  issued in business combination                                                          |   |   | - |   |   |   | (714 | ) |   |   | - |   |   |   | - |   |   |   | 57,838 |   |   |   | 57,124 |   |
| Stock                  issued to dividend reinvestment plan                                                    |   |   | - |   |   |   | (103 | ) |   |   | - |   |   |   | - |   |   |   | 2,521 |   |   |   | 2,418 |   |
| Long-term                  incentive plan stock activity:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Performance-based                  restricted stock                                                |   |   | - |   |   |   | 1,444 |   |   |   | - |   |   |   | - |   |   |   | 5,727 |   |   |   | 7,171 |   |
|   Stock                  options                                                                     |   |   | - |   |   |   | 10,063 |   |   |   | - |   |   |   | - |   |   |   | 2,363 |   |   |   | 12,426 |   |
| Directors'                  compensation plan stock activity                                                   |   |   | - |   |   |   | 1,058 |   |   |   | - |   |   |   | - |   |   |   | 332 |   |   |   | 1,390 |   |
| Balance                  at December 31, 2005                                                                  |   | $ | 2,800 |   |   | $ | 250,174 |   |   | $ | 738,655 |   |   | $ | (21,223 | ) |   | $ | (9,363 | ) |   | $ | 961,043 |   |
| Comprehensive                  income:                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income                                                                                    |   |   | - |   |   |   | - |   |   |   | 144,645 |   |   |   | - |   |   |   | - |   |   |   | 144,645 |   |
| Other                  comprehensive income:                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                  net holding gain on securities,                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   net                  of reclassifications and tax                                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,142 |   |   |   | - |   |   |   | 2,142 |   |
| Change                  in minimum pension liability, net of tax                                               |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 86 |   |   |   | - |   |   |   | 86 |   |
| Total                  comprehensive income                                                                    |   |   | - |   |   |   | - |   |   |   | 144,645 |   |   |   | 2,228 |   |   |   | - |   |   |   | 146,873 |   |
| Cash                  dividends, $1.08 per share                                                               |   |   | - |   |   |   | - |   |   |   | (70,656 | ) |   |   | - |   |   |   | - |   |   |   | (70,656 | ) |
| Stock                  issued in business combination                                                          |   |   | - |   |   |   | 75,129 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 75,129 |   |
| Stock                  issued to dividend reinvestment plan                                                    |   |   | - |   |   |   | 322 |   |   |   | - |   |   |   | - |   |   |   | 2,468 |   |   |   | 2,790 |   |
| Long-term                incentive plan stock activity:                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Performance-based                  restricted stock & units                                    |   |   | - |   |   |   | 10,461 |   |   |   | - |   |   |   | - |   |   |   | (571 | ) |   |   | 9,890 |   |
|   Stock                  options                                                                     |   |   | - |   |   |   | 6,332 |   |   |   | - |   |   |   | - |   |   |   | 751 |   |   |   | 7,083 |   |
| Directors'                  compensation plan stock activity                                                   |   |   | - |   |   |   | 1,279 |   |   |   | - |   |   |   | - |   |   |   | 1,551 |   |   |   | 2,830 |   |
| Adoption                  of SFAS No. 158, net of tax (Note 15)                                                |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (22,020 | ) |   |   | - |   |   |   | (22,020 | ) |
| Balance                  at December 31, 2006                                                                  |   | $ | 2,800 |   |   | $ | 343,697 |   |   | $ | 812,644 |   |   | $ | (41,015 | ) |   | $ | (5,164 | ) |   | $ | 1,112,962 |   |
| Adjustment                  on adoption of FIN 48 (Note 23)                                                    |   |   | - |   |   |   | - |   |   |   | 721 |   |   |   | - |   |   |   | - |   |   |   | 721 |   |
| Adjusted                  balance at beginning of period                                                       |   |   | 2,800 |   |   |   | 343,697 |   |   |   | 813,365 |   |   |   | (41,015 | ) |   |   | (5,164 | ) |   |   | 1,113,683 |   |
| Comprehensive                  income:                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income                                                                                    |   |   | - |   |   |   | - |   |   |   | 151,054 |   |   |   | - |   |   |   | - |   |   |   | 151,054 |   |
| Other                  comprehensive income:                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                  net holding gain on securities,                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   net                  of reclassifications and tax                                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 17,641 |   |   |   | - |   |   |   | 17,641 |   |
| Net                  change in prior service credit and                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   net                  actuarial loss on retirement plans,                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   net                  of tax (Note 15)                                                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,571 |   |   |   | - |   |   |   | 4,571 |   |
| Total                  comprehensive income                                                                    |   |   | - |   |   |   | - |   |   |   | 151,054 |   |   |   | 22,212 |   |   |   | - |   |   |   | 173,266 |   |
| Cash                  dividends, $1.16 per share                                                               |   |   | - |   |   |   | - |   |   |   | (78,627 | ) |   |   | - |   |   |   | - |   |   |   | (78,627 | ) |
| Stock                  acquired under repurchase program                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (49,510 | ) |   |   | (49,510 | ) |
| Stock                  issued in business combination                                                          |   |   | - |   |   |   | 48,298 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 48,298 |   |
| Stock                  issued to dividend reinvestment plan                                                    |   |   | - |   |   |   | 1,676 |   |   |   | - |   |   |   | - |   |   |   | 1,443 |   |   |   | 3,119 |   |
| Long-term                  incentive plan stock activity:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Performance-based                  restricted stock & units                                    |   |   | - |   |   |   | 10,709 |   |   |   | - |   |   |   | - |   |   |   | (129 | ) |   |   | 10,580 |   |
|   Stock                  options                                                                     |   |   | - |   |   |   | 1,228 |   |   |   | - |   |   |   | - |   |   |   | 2,626 |   |   |   | 3,854 |   |
| Directors'                  compensation plan stock activity                                                   |   |   | - |   |   |   | 2,658 |   |   |   | - |   |   |   | - |   |   |   | 1,415 |   |   |   | 4,073 |   |
| Balance                  at December 31, 2007                                                                  |   | $ | 2,800 |   |   | $ | 408,266 |   |   | $ | 885,792 |   |   | $ | (18,803 | ) |   | $ | (49,319 | ) |   | $ | 1,228,736 |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| *The                  accompanying notes are an integral part of these financial                  statements.* |   |   |   |   |   |   |   |   |   |

----

| **WHITNEY                  HOLDING CORPORATION AND SUBSIDIARIES**                                      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| **CONSOLIDATED                  STATEMENTS OF CASH FLOWS**                                             |
|                                                                                                                                                |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                |   | *Years                  ended December 31*  |
| *(dollars                  in thousands)*                                                                                                           |   | **2007**  |   | 2006  |   | 2005  |
| OPERATING                  ACTIVITIES                                                                                                               |   |   |   |   |   |   |   |   |   |
| Net                  income                                                                                                                         |   | **$** | **151,054** |   |   | $ | 144,645 |   |   | $ | 102,349 |   |
| Adjustments                  to reconcile net income to net cash provided by operating                  activities:                                 |   |   |   |   |   |   |   |   |   |
|   Depreciation                  and amortization of bank premises and equipment                                                           |   | ** ** | **17,437** |   |   |   | 15,710 |   |   |   | 13,589 |   |
|   Amortization                  of purchased intangibles                                                                                  |   | ** ** | **10,879** |   |   |   | 10,426 |   |   |   | 8,261 |   |
|   Share-based                  compensation earned                                                                                        |   | ** ** | **14,638** |   |   |   | 12,265 |   |   |   | 9,372 |   |
|   Premium                  amortization (discount accretion) on securities, net                                                           |   | ** ** | **910** |   |   |   | 2,558 |   |   |   | 1,060 |   |
|   Provision                  for credit losses and losses on foreclosed assets                                                            |   | ** ** | **17,124** |   |   |   | 3,786 |   |   |   | 37,114 |   |
|   Net                  gains on asset dispositions, including gain on insurance                  settlement                               |   | ** ** | **(33,804** | **)** |   |   | (266 | ) |   |   | (2,601 | ) |
|   Deferred                  tax expense (benefit)                                                                                         |   | ** ** | **3,321** |   |   |   | (2,001 | ) |   |   | (11,615 | ) |
|   Net                  (increase) decrease in loans originated and held for sale                                                          |   | ** ** | **10,391** |   |   |   | 19,712 |   |   |   | (27,004 | ) |
|   Net                  (increase) decrease in interest and other income receivable and                  prepaid                  expenses |   | ** ** | **1,936** |   |   |   | 19,261 |   |   |   | (28,754 | ) |
|   Net                  increase (decrease) in interest payable and accrued income taxes                  and                  expenses    |   | ** ** | **20,113** |   |   |   | (31,595 | ) |   |   | 37,812 |   |
|   Other,                  net                                                                                                             |   | ** ** | **(2,194** | **)** |   |   | 10,609 |   |   |   | (26,219 | ) |
|     Net                  cash provided by operating activities                                                                  |   | ** ** | **211,805** |   |   |   | 205,110 |   |   |   | 113,364 |   |
| INVESTING                  ACTIVITIES                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds                  from sales of investment securities available for sale                                                                    |   | ** ** | **38,964** |   |   |   | 45,815 |   |   |   | 281,400 |   |
| Proceeds                  from maturities of investment securities available for                  sale                                              |   | ** ** | **405,472** |   |   |   | 376,705 |   |   |   | 361,784 |   |
| Purchases                  of investment securities available for sale                                                                              |   | ** ** | **(469,438** | **)** |   |   | (548,187 | ) |   |   | (232,122 | ) |
| Proceeds                  from maturities of investment securities held to maturity                                                                 |   | ** ** | **10,241** |   |   |   | 10,015 |   |   |   | 13,595 |   |
| Purchases                  of investment securities held to maturity                                                                                |   | ** ** | **(23,309** | **)** |   |   | (56,056 | ) |   |   | (14,901 | ) |
| Net                  increase in loans                                                                                                              |   | ** ** | **(318,711** | **)** |   |   | (215,051 | ) |   |   | (547,722 | ) |
| Net                  (increase) decrease in federal funds sold and short-term                  investments                                          |   | ** ** | **(221,628** | **)** |   |   | 490,908 |   |   |   | (756,131 | ) |
| Proceeds                  from sales of foreclosed assets and surplus property                                                                      |   | ** ** | **6,368** |   |   |   | 2,647 |   |   |   | 9,880 |   |
| Proceeds                  from insurance settlement                                                                                                 |   | ** ** | **30,801** |   |   |   | - |   |   |   | - |   |
| Purchases                  of bank premises and equipment                                                                                           |   | ** ** | **(24,788** | **)** |   |   | (26,131 | ) |   |   | (12,592 | ) |
| Net                  cash paid in acquisition                                                                                                       |   | ** ** | **(7,503** | **)** |   |   | (33,992 | ) |   |   | (39,228 | ) |
| Other,                  net                                                                                                                         |   | ** ** | **(2,401** | **)** |   |   | 8,202 |   |   |   | (7,939 | ) |
|     Net                  cash provided by (used in) investing activities                                                        |   | ** ** | **(575,932** | **)** |   |   | 54,875 |   |   |   | (943,976 | ) |
| FINANCING                  ACTIVITIES                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  increase (decrease) in transaction account and savings account                  deposits                                       |   | ** ** | **(319,470** | **)** |   |   | (652,825 | ) |   |   | 1,375,730 |   |
| Net                  increase in time deposits                                                                                                      |   | ** ** | **250,766** |   |   |   | 163,028 |   |   |   | 177,608 |   |
| Net                  increase (decrease) in short-term borrowings                                                                                   |   | ** ** | **384,723** |   |   |   | 63,305 |   |   |   | (258,754 | ) |
| Proceeds                  from issuance of long-term debt                                                                                           |   | ** ** | **149,738** |   |   |   | - |   |   |   | - |   |
| Repayment                  of long-term debt                                                                                                        |   | ** ** | **(7,366** | **)** |   |   | (11,573 | ) |   |   | (23,007 | ) |
| Proceeds                  from issuance of common stock                                                                                             |   | ** ** | **6,932** |   |   |   | 10,113 |   |   |   | 14,185 |   |
| Purchases                  of common stock                                                                                                          |   | ** ** | **(52,782** | **)** |   |   | (3,165 | ) |   |   | (52,924 | ) |
| Cash                  dividends                                                                                                                     |   | ** ** | **(77,340** | **)** |   |   | (68,111 | ) |   |   | (61,150 | ) |
| Other,                  net                                                                                                                         |   | ** ** | **960** |   |   |   | 2,581 |   |   |   | - |   |
|     Net                  cash provided by (used in) financing activities                                                        |   | ** ** | **336,161** |   |   |   | (496,647 | ) |   |   | 1,171,688 |   |
|     Increase                  (decrease) in cash and cash equivalents                                                           |   | ** ** | **(27,966** | **)** |   |   | (236,662 | ) |   |   | 341,076 |   |
|     Cash                  and cash equivalents at beginning of period                                                           |   | ** ** | **318,165** |   |   |   | 554,827 |   |   |   | 213,751 |   |
|     Cash                  and cash equivalents at end of period                                                                 |   | **$** | **290,199** |   |   | $ | 318,165 |   |   | $ | 554,827 |   |
|                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                  received during the period for:                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
|   Interest                  income                                                                                                        |   | **$** | **655,073** |   |   | $ | 617,359 |   |   | $ | 442,647 |   |
|                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                  paid during the period for:                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Interest                  expense                                                                                                       |   | **$** | **188,419** |   |   | $ | 140,763 |   |   | $ | 77,059 |   |
|   Income                  taxes                                                                                                           |   | ** ** | **60,000** |   |   |   | 91,583 |   |   |   | 28,198 |   |
|                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Noncash                  investing activities:                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|   Foreclosed                  assets received in settlement of loans                                                                      |   | **$** | **4,776** |   |   | $ | 1,361 |   |   | $ | 2,754 |   |
|                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| *The                  accompanying notes are an integral part of these financial                  statements.*                                      |   |   |   |   |   |   |   |   |   |

----

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE        1**

**NATURE        OF BUSINESS**

**NOTE        2**

**SUMMARY        OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT        PRONOUNCEMENTS**

***Basis        of Presentation***

***Use        of Estimates***

***Investment        Securities***

----

***Loans        Held for Sale***

***Loans***

***Allowance        for Loan Losses***

***Bank        Premises and Equipment***

**.  **

----

***Foreclosed        Assets and Surplus Property***

***Goodwill        and Other Intangible Assets***

***Share-Based        Compensation***

*Share-Based Payment*

----

***Income          Taxes***

***Earnings        per Share***

***Statements        of Cash Flows***

***Operating        Segment Disclosures***

*Disclosures about Segments of an Enterprise and Related        Information*

***Other***

***Accounting        Standard Developments***

*Accounting for Uncertainty in Income        Taxes*

----

*Fair Value Measurements*

*The Fair Value Option for Financial Assets and        Financial Liabilities*

*Business        Combinations*

*Noncontrolling Interests in Consolidated Financial Statements*
*        an amendment of ARB No. 51*

**NOTE        3**

**MERGERS        AND ACQUISITIONS**

----

**NOTE        4**

**FEDERAL        FUNDS SOLD AND SHORT-TERM INVESTMENTS**

|                                                           |                                                 December 31 |
|----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                              | **2007**                                                                                                                                                                                                          | 2006 |
| Federal                  funds sold                            | **$231,175**                                                                                                                                                                                                      | $110,500 |
| U.                  S. government agency discount notes        | **199,540**                                                                                                                                                                                                       | - |
| Securities                  purchased under resale agreements  | **100,000**                                                                                                                                                                                                       | 200,000 |
| Other                  short-term interest-bearing investments | **3,843**                                                                                                                                                                                                         | 3,579 |
|       Total                      | **$534,558**                                                                                                                                                                                                      | $314,079 |

**NOTE        5**

**INVESTMENT        SECURITIES**

|                                                              |   | Amortized  |          | Unrealized  |   | Unrealized  |      | Fair   |
|-------------------------------------------------------------------|--------|-----------------|---------------|------------------|--------|------------------|-----------|-------------|
| *(in                  thousands)*                                 |   | Cost       |          | Gains       |   | Losses      |      | Value  |
| ***Securities                  Available for Sale***              |   |
| **December                  31, 2007**                            |   |            |          |             |   |             |      |        |   |   |   |   |
| Mortgage-backed                  securities                       |   | **$**           | **1,320,466** |             |   | **$**            | **7,490** |        |   | **$** | **9,775** |   |   | **$** | **1,318,181** |   |
| U.                  S. agency securities                          |   | ** **      | **333,243**   |             |   | ** **       | **2,042** |        |   | ** ** | **576** |   |   | ** ** | **334,709** |   |
| Obligations                  of states and political subdivisions |   | ** **      | **10,135**    |             |   | ** **       | **140**   |        |   | ** ** | **6** |   |   | ** ** | **10,269** |   |
| Other                  securities                                 |   | ** **      | **35,643**    |             |   |             |      |        |   | ** ** | **7** |   |   | ** ** | **35,636** |   |
|     Total                                     |   | **$**           | **1,699,487** |             |   | **$**            | **9,672** |        |   | **$** | **10,364** |   |   | **$** | **1,698,795** |   |
| December                  31, 2006                                |   |            |          |             |   |             |      |        |   |   |   |   |   |   |   |   |
| Mortgage-backed                  securities                       |   | $               | 1,230,461     |             |   | $                | 697       |        |   | $ | 24,634 |   |   | $ | 1,206,524 |   |
| U.                  S. agency securities                          |   |            | 336,969       |             |   |             | 110       |        |   |   | 4,051 |   |   |   | 333,028 |   |
| U.                  S. Treasury securities                        |   |            | 24,857        |             |   |             | -         |        |   |   | 27 |   |   |   | 24,830 |   |
| Obligations                  of states and political subdivisions |   |            | 12,215        |             |   |             | 85        |        |   |   | 9 |   |   |   | 12,291 |   |
| Other                  securities                                 |   |            | 35,840        |             |   |             | 24        |        |   |   | 24 |   |   |   | 35,840 |   |
|     Total                                     |   | $               | 1,640,342     |             |   | $                | 916       |        |   | $ | 28,745 |   |   | $ | 1,612,513 |   |
| ***Securities                  Held to Maturity***                |   |
| **December                  31, 2007**                            |   |            |          |             |   |             |      |        |   |   |   |   |   |   |   |   |
| Obligations                  of states and political subdivisions |   | **$**           | **286,442**   |             |   | **$**            | **2,896** |        |   | **$** | **894** |   |   | **$** | **288,444** |   |
|     Total                                     |   | **$**           | **286,442**   |             |   | **$**            | **2,896** |        |   | **$** | **894** |   |   | **$** | **288,444** |   |
| December                  31, 2006                                |   |            |          |             |   |             |      |        |   |   |   |   |   |   |   |   |
| Obligations                  of states and political subdivisions |   | $               | 273,580       |             |   | $                | 2,325     |        |   | $ | 2,112 |   |   | $ | 273,793 |   |
|     Total                                     |   | $               | 273,580       |             |   | $                | 2,325     |        |   | $ | 2,112 |   |   | $ | 273,793 |   |

----

| **December                  31, 2007**                            |   | Less                  than 12 Months  |       | 12                  Months or Longer  |
|-------------------------------------------------------------------|--------|--------------------------------------------|------------|--------------------------------------------|
|                                                              |   | Fair                                  |       | Unrealized                            |   | Fair  |   | Unrealized  |
| *(in                  thousands)*                                 |   | Value                                 |       | Losses                                |   | Value  |   | Losses  |
| ***Securities                  Available for Sale***              |   |                                       |       |                                       |   |   |   |   |   |   |   |   |
| Mortgage-backed                  securities                       |   | **$**                                      | **20,822** |                                       |   | **$** | **115** |   |   | **$** | **627,356** |   |   | **$** | **9,659** |   |
| U.S.                  agency securities                           |   | ** **                                 | **49,984** |                                       |   | ** ** | **16** |   |   | ** ** | **124,399** |   |   | ** ** | **560** |   |
| Obligations                  of states and political subdivisions |   | ** **                                 | **799**    |                                       |   | ** ** | **2** |   |   | ** ** | **1,338** |   |   | ** ** | **4** |   |
| Other                  securities                                 |   | ** **                                 | **699**    |                                       |   | ** ** | **1** |   |   | ** ** | **744** |   |   | ** ** | **7** |   |
|      Total                               |   | **$**                                      | **72,304** |                                       |   | **$** | **134** |   |   | **$** | **753,837** |   |   | **$** | **10,230** |   |
| ***Securities                  Held to Maturity***                |   |                                       |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Obligations                  of states and political subdivisions |   | **$**                                      | **7,156**  |                                       |   | **$** | **76** |   |   | **$** | **62,236** |   |   | **$** | **818** |   |
|      Total                               |   | **$**                                      | **7,156**  |                                       |   | **$** | **76** |   |   | **$** | **62,236** |   |   | **$** | **818** |   |

| December                  31, 2006                                |   | Less                  than 12 Months  |    | 12                  Months or Longer  |
|-------------------------------------------------------------------|--------|--------------------------------------------|---------|--------------------------------------------|
|                                                              |   | Fair                                  |    | Unrealized                            |   | Fair  |   | Unrealized  |
| *(in                  thousands)*                                 |   | Value                                 |    | Losses                                |   | Value  |   | Losses  |
| ***Securities                  Available for Sale***              |   |                                       |    |                                       |   |   |   |   |   |   |   |   |
| Mortgage-backed                  securities                       |   | $                                          | 171,835 |                                       |   | $ | 281 |   |   | $ | 891,358 |   |   | $ | 24,353 |   |
| U.S.                  agency securities                           |   |                                       | 29,187  |                                       |   |   | 6 |   |   |   | 220,946 |   |   |   | 4,045 |   |
| U.S.                  Treasury securities                         |   |                                       | 24,830  |                                       |   |   | 27 |   |   |   | - |   |   |   | - |   |
| Obligations                  of states and political subdivisions |   |                                       | 4,615   |                                       |   |   | 9 |   |   |   | - |   |   |   | - |   |
| Other                  securities                                 |   |                                       | 441     |                                       |   |   | 9 |   |   |   | 835 |   |   |   | 15 |   |
|      Total                               |   | $                                          | 230,908 |                                       |   | $ | 332 |   |   | $ | 1,113,139 |   |   | $ | 28,413 |   |
| ***Securities                  Held to Maturity***                |   |                                       |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Obligations                  of states and political subdivisions |   | $                                          | 33,490  |                                       |   | $ | 279 |   |   | $ | 68,068 |   |   | $ | 1,833 |   |
|      Total                               |   | $                                          | 33,490  |                                       |   | $ | 279 |   |   | $ | 68,068 |   |   | $ | 1,833 |   |

----

|                                                                | Amortized                                                                    |               Fair  |
|---------------------------------------------------------------------|------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                   |             Cost |               Value |
| ***Securities                  Available for Sale***                |                                                                         |                                                                                      |
| Within                  one year                                    | **$   233,300**                                               | **$   232,805**                                                            |
| One                  to five years                                  | **111,923**                                                                  | **113,925**                                                                               |
| Five                  to ten years                                  | **3,253**                                                                    | **3,339**                                                                                 |
| After                  ten years                                    | **-**                                                                        | **-**                                                                                     |
|   Debt                  securities with single maturities | **348,476**                                                                  | **350,069**                                                                               |
| Mortgage-backed                  securities                         | **1,320,466**                                                                | **1,318,181**                                                                             |
| Equity                  and other debt securities                   | **30,545**                                                                   | **30,545**                                                                                |
|     Total                                       | **$1,699,487**                                                               | **$1,698,795**                                                                            |
| ***Securities                  Held to Maturity***                  |                                                                         |                                                                                      |
| Within                  one year                                    | **$  71,190**                                                      | **$  71,567**                                                                   |
| One                  to five years                                  | **79,153**                                                                   | **79,727**                                                                                |
| Five                  to ten years                                  | **77,495**                                                                   | **78,152**                                                                                |
| After                  ten years                                    | **58,604**                                                                   | **58,998**                                                                                |
|     Total                                       | **$286,442**                                                                 | **$288,444**                                                                              |

**NOTE        6**

**LOANS**

|                                                                    |   | December                  31  |
|-------------------------------------------------------------------------|--------|------------------------------------|
| *(in                  thousands)*                                       |   | **2007**                      |   | 2006  |
| Commercial,                  financial and agricultural                 |   | **$**                              | **2,822,752** |   |   | ** ** | **37** | **%** |   | $ | 2,725,531 |   |   |   | 38 | % |
| Real                  estate – commercial, construction and other |   | ** **                         | **3,477,558** |   |   | ** ** | **46** |   |   |   | 3,094,004 |   |   |   | 44 |   |
| Real                  estate – residential mortgage               |   | ** **                         | **933,797** |   |   | ** ** | **12** |   |   |   | 893,091 |   |   |   | 13 |   |
| Individuals                                                             |   | ** **                         | **351,594** |   |   | ** ** | **5** |   |   |   | 337,790 |   |   |   | 5 |   |
|     Total                                           |   | **$**                              | **7,585,701** |   |   | ** ** | **100** | **%** |   | $ | 7,050,416 |   |   |   | 100 | % |

----

| *(in                  thousands)*                             |   | 2007   |    |
|---------------------------------------------------------------|--------|--------|---------|
| Beginning                  balance                            |   | $      | 54,137  |   |
| Additions                                                     |   |   | 31,671  |   |
| Repayments                                                    |   |   | (50,598 | ) |
| Net                  decrease from changes in related parties |   |   | (10,435 | ) |
| Ending                  balance                               |   | $      | 24,775  |   |

**NOTE        7**

**ALLOWANCE        FOR LOAN LOSSES AND RESERVE FOR LOSSES ON UNFUNDED CREDIT        COMMITMENTS**

|                                            |   | Years                  Ended December 31 |
|-------------------------------------------------|--------|------------------------------------------|
| *(in                  thousands)*               |   | **2007**                                 |   |   | 2006 |   |   | 2005 |   |
| Allowance                  at beginning of year |   | **$**                                    | **75,927** |   |   | $ | 90,028 |   |   | $ | 54,345 |   |
| Allowance                  of acquired bank     |   | ** **                               | **2,791** |   |   |   | 2,908 |   |   |   | 3,648 |   |
| Provision                  for credit losses    |   | ** **                               | **17,600** |   |   |   | 2,400 |   |   |   | 37,000 |   |
| Loans                  charged off              |   | ** **                               | **(17,956** | **)** |   |   | (25,228 | ) |   |   | (10,656 | ) |
| Recoveries                                      |   | ** **                               | **9,547** |   |   |   | 5,819 |   |   |   | 5,691 |   |
|   Net                  charge-offs    |   | ** **                               | **(8,409** | **)** |   |   | (19,409 | ) |   |   | (4,965 | ) |
| Allowance                  at end of year       |   | **$**                                    | **87,909** |   |   | $ | 75,927 |   |   | $ | 90,028 |   |

|                                          |   | Years                Ended December 31        |
|-----------------------------------------------|--------|----------------------------------------------------------------------------------|
| *(in                  thousands)*             |   | **2007**                                                                    |   | 2006  |   | 2005  |
| Reserve                  at beginning of year |   | **$**                                                                            | **1,900** |   |   | $ | 580 |   |   | $ | - |   |
| Provision                  for credit losses  |   | ** **                                                                       | **(600** | **)** |   |   | 1,320 |   |   |   | 580 |   |
| Reserve                  at end of year       |   | **$**                                                                            | **1,300** |   |   | $ | 1,900 |   |   | $ | 580 |   |

----

**NOTE        8**

**IMPAIRED        LOANS, NONPERFORMING LOANS, FORECLOSED ASSETS AND SURPLUS        PROPERTY**

|                                                                           |                                                               December  31 |
|--------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                              | **       2007**                                                                                                                                                                                                                                                               |        2006 |
| Impaired                  loans at year end                                    |                                                                                                                                                                                                                                                                                                             |   |
|   Requiring                  a loss allowance                        | **$  86,920**                                                                                                                                                                                                                                                                                          | $38,308 |
|   Not                  requiring a loss allowance                    | **22,412**                                                                                                                                                                                                                                                                                                       | 12,950 |
|   Total                  recorded investment in impaired loans       | **$109,332**                                                                                                                                                                                                                                                                                                     | $51,258 |
| Impairment                  loss allowance required at year end                | **$22,590**                                                                                                                                                                                                                                                                                                      | $9,773 |
| Average                  recorded investment in impaired loans during the year | **$65,751**                                                                                                                                                                                                                                                                                                      | $54,387 |

|                                                       |                                                                  December  31 |
|------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                          | **2007**                                                                                                                                                                                                                                                                                                                           | 2006 |
| Loans                  accounted for on a nonaccrual basis | **$120,096**                                                                                                                                                                                                                                                                                                                       | $55,992 |
| Restructured                  loans                        | **-**                                                                                                                                                                                                                                                                                                                              | - |
|   Total                  nonperforming loans     | **$120,096**                                                                                                                                                                                                                                                                                                                       | $55,992 |
| Foreclosed                  assets and surplus property    | **$4,624**                                                                                                                                                                                                                                                                                                                         | $800 |

|                                                              |                                                           Years Ended December  31 |
|-------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                 | **           2007**                                                                                                                                                                                                                           |            2006 |            2005 |
| Contractual                  interest                             | **$7,967**                                                                                                                                                                                                                                                                                           | $5,903 | $3,347 |
| Interest                  recognized                              | **1,345**                                                                                                                                                                                                                                                                                            | 1,249 | 2,223 |
|   Decrease                  in reported interest income | **$6,622**                                                                                                                                                                                                                                                                                           | $4,654 | $1,124 |

|                              |                                                         Years Ended December 31 |
|-----------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)* | **     2007**                                                                                                                                                                                                                                        |      2006 |      2005 |
| Revenues                          | **$4,375**                                                                                                                                                                                                                                                                    | $1,944 |  $2,207 |
| Direct                  expenses  | **236**                                                                                                                                                                                                                                                                       | 218 | 210 |

----

**NOTE        9**

**BANK        PREMISES AND EQUIPMENT**

|                                                           |   | December                  31  |
|----------------------------------------------------------------|--------|------------------------------------|
| *(in                  thousands)*                              |   | **2007**                           |   |   | 2006 |   |
| Land                                                           |   | **$**                              | **50,262** |   |   | $ | 47,380 |   |
| Buildings                  and improvements                    |   | ** **                         | **203,093** |   |   |   | 186,967 |   |
| Equipment                  and furnishings                     |   | ** **                         | **125,412** |   |   |   | 117,703 |   |
|                                                           |   | ** **                         | **378,767** |   |   |   | 352,050 |   |
| Accumulated                  depreciation                      |   | ** **                         | **(188,672** | **)** |   |   | (176,941 | ) |
|   Total                  bank premises and equipment |   | **$**                              | **190,095** |   |   | $ | 175,109 |   |

|                                                                     |                  Years                  Ended December 31 |
|--------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                        | **                2007**                                       |                 2006 |                 2005 |
| Buildings                  and improvements                              | ** $  8,062**                                                                                                                   |  $  7,298 |  $  6,830 |
| Equipment                  and furnishings                               | **9,375**                                                                                                                                      | 8,412 | 6,759 |
|   Total                  depreciation and amortization expense | ** $17,437**                                                                                                                              |  $15,710 |  $13,589 |

| *(in                  thousands)* |                |
|-----------------------------------|---------------------|
| 2008                              | $  10,082 |
| 2009                              | 9,004               |
| 2010                              | 7,235               |
| 2011                              | 6,561               |
| 2012                              | 5,363               |
| Later                  years      | 46,348              |
|   Total                 | $84,593             |

**NOTE        10**

**GOODWILL        AND OTHER INTANGIBLE ASSETS**

----

|                                                  |   |                                   |       |
|-------------------------------------------------------|--------|----------------------------------------|------------|
|                                                  |   | **December                  31, 2007** |       |   | December                  31, 2006 |   |
|                                                  |   | Purchase                          |       | Accumulated  |   | Carrying  |   | Purchase  |   | Accumulated  |   | Carrying  |
| *(in                thousands)*                       |   | Value                             |       | Amortization |   | Value  |   | Value  |   | Amortization  |   | Value  |
| Deposit                  relationships and other      |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   identifiable                  intangibles |   | **$**                                  | **49,318** |   |   | **$** | **32,215** |   |   | **$** | **17,103** |   |   | $ | 54,003 |   |   | $ | 31,960 |   |   | $ | 22,043 |   |
| Unidentifiable                  intangibles           |   | ** **                             | **-**      |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   |   | 11,321 |   |   |   | 10,037 |   |   |   | 1,284 |   |
|   Total                                     |   | **$**                                  | **49,318** |   |   | **$** | **32,215** |   |   | **$** | **17,103** |   |   | $ | 65,324 |   |   | $ | 41,997 |   |   | $ | 23,327 |   |

|                                                                      |            Years                  Ended December 31 |
|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                         | **2007**                                                                                                   | 2006 | 2005 |
| Deposit                  relationships and other identifiable intangibles | **$  9,595**                                                                                     | $  8,713 | $6,548 |
| Unidentifiable                  intangibles                               | **    1,284**                                                                          |     1,713 |   1,713 |
|   Total                  amortization                           | **$10,879**                                                                                                | $10,426 | $8,261 |

| *(in                  thousands)*    |   |
|--------------------------------------|--------|
| 2008                                 | $7,102 |
| 2009                                 | 4,533  |
| 2010                                 | 2,175  |
| 2011                                 | 1,505  |
| 2012                  and thereafter | 1,788  |

**NOTE        11**

**DEPOSITS**

|                                                                     |                                      December 31 |
|--------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                        | **     2007**                                                                                                          |      2006 |
| Noninterest-bearing                  demand deposits                     | **$2,740,019**                                                                                                                                  | $2,947,997 |
| Interest-bearing                  deposits:                              |                                                                                                                                            |   |
|   NOW                  account deposits                        | **1,151,988**                                                                                                                                   | 1,099,408 |
|   Money                  market deposits                       | **1,229,715**                                                                                                                                   | 1,185,610 |
|   Savings                  deposits                            | **879,609**                                                                                                                                     | 965,652 |
|   Other                  time deposits                         | **823,884**                                                                                                                                     | 750,165 |
|   Time                  deposits $100,000 and over             | **1,758,574**                                                                                                                                   | 1,484,476 |
|     Total                  interest-bearing deposits | **5,843,770**                                                                                                                                   | 5,485,311 |
|       Total                  deposits      | **$8,583,789**                                                                                                                                  | $8,433,308 |

----

| *(in                  thousands)*    |       |
|--------------------------------------|------------|
| 2008                                 | $2,463,396 |
| 2009                                 | 80,835     |
| 2010                                 | 37,276     |
| 2011                                 | 384        |
| 2012                  and thereafter | 567        |
|   Total                    | $2,582,458 |

**NOTE        12**

**SHORT-TERM        BORROWINGS**

|                                                            |                                         December 31 |
|-----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                               | **     2007**                                                                                                                            |      2006 |
| Securities                  sold under agreements to repurchase | **$771,717**                                                                                                                                                      | $438,643 |
| Federal                  funds purchased                        | **98,302**                                                                                                                                                        | 38,012 |
| Treasury                  Investment Program                    | **40,000**                                                                                                                                                        | 22,878 |
|   Total                  short-term borrowings        | **$910,019**                                                                                                                                                      | $499,533 |

| *(dollars                  in thousands)*            |   | **2007**  |        | 2006  |   | 2005  |
|------------------------------------------------------|--------|----------------|-------------|------------|--------|------------|
| At                  December 31                      |   |           |        |       |   |       |   |   |   |
|   Interest                  rate           |   | ** **     | **3.15**    | **%**      |   |       | 3.91 | % |   |   | 2.73 | % |
|   Balance                                  |   | **$**          | **771,717** |       |   | $          | 438,643 |   |   | $ | 280,390 |   |
| Average                  for the year                |   |           |        |       |   |       |   |   |   |   |   |   |
|   Effective                  interest rate |   | ** **     | **3.80**    | **%**      |   |       | 3.76 | % |   |   | 1.91 | % |
|   Balance                                  |   | **$**          | **583,754** |       |   | $          | 491,619 |   |   | $ | 373,501 |   |
| Maximum                  month-end outstanding       |   | **$**          | **771,717** |       |   | $          | 592,685 |   |   | $ | 451,480 |   |

----

| *(dollars                  in thousands)*            |   | **2007**  |       | 2006  |   | 2005  |
|------------------------------------------------------|--------|----------------|------------|------------|--------|------------|
| At                  December 31                      |   |           |       |       |   |       |   |   |   |
|   Interest                  rate           |   | ** **     | **3.76**   | **%**      |   |       | 4.94 | % |   |   | 4.01 | % |
|   Balance                                  |   | **$**          | **98,302** |       |   | $          | 38,012 |   |   | $ | 99,595 |   |
| Average                  for the year                |   |           |       |       |   |       |   |   |   |   |   |   |
|   Effective                  interest rate |   | ** **     | **4.94**   | **%**      |   |       | 4.80 | % |   |   | 3.20 | % |
|   Balance                                  |   | **$**          | **48,128** |       |   | $          | 61,560 |   |   | $ | 165,813 |   |
| Maximum                  month-end outstanding       |   | **$**          | **98,302** |       |   | $          | 161,869 |   |   | $ | 387,346 |   |

**NOTE        13**

**LONG-TERM        DEBT**

|                                                      | **                                         December 31** |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                         | **2007**                                                                                                                                                                    | 2006 |
| Subordinated                  notes payable               | **$149,758**                                                                                                                                                                | $          - |
| Other                  long-term debt                     | **15,697**                                                                                                                                                                  | 17,394 |
| *   Total                  long-term debt* | **$165,455**                                                                                                                                                                | $17,394 |

----

**NOTE        14**

**OTHER        ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES**

|                                                                           |                                                December                  31 |
|--------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                              | **     2007**                                                                                                                                                                                       |      2006 |
| ***Other                  Assets***                                            |                                                                                                                                                                                                                         |   |
| Net                  deferred income tax asset                                 | **$  51,718**                                                                                                                                                                                                      |   $  66,914 |
| Low-income                  housing tax credit fund investments                | **13,161**                                                                                                                                                                                                                   | 15,639 |
| Cash                  surrender value of life insurance                        | **12,258**                                                                                                                                                                                                                   | 9,134 |
| Prepaid                  expenses                                              | **7,736**                                                                                                                                                                                                                    | 7,283 |
| Insurance                  claim receivable                                    | **-**                                                                                                                                                                                                                        | 5,489 |
| Miscellaneous                  investments, receivables and other assets       | **34,677**                                                                                                                                                                                                                   | 23,187 |
|   Total                  other assets                                | **$119,550**                                                                                                                                                                                                                 |  $127,646 |
| ***Accrued                  Expenses and Other Liabilities***                  |                                                                                                                                                                                                                         |   |
| Accrued                  taxes and other expenses                              | **$  27,969**                                                                                                                                                                                                      | $  21,020 |
| Dividend                  payable                                              | **15,913**                                                                                                                                                                                                                   | 14,704 |
| Liability                  for pension benefits                                | **33,956**                                                                                                                                                                                                                   | 21,318 |
| Obligation                  for postretirement benefits other than pensions    | **15,196**                                                                                                                                                                                                                   | 27,128 |
| Reserve                  for losses on unfunded credit commitments             | **1,300**                                                                                                                                                                                                                    | 1,900 |
| Miscellaneous                  payables, deferred income and other liabilities | **17,852**                                                                                                                                                                                                                   | 18,673 |
|   Total                  accrued expenses and other liabilities      | **$112,186**                                                                                                                                                                                                                 |  $104,743 |

**NOTE        15**

**EMPLOYEE        BENEFIT PLANS**

***Retirement        Plans***

----

|                                                                  |   | **2007**   |        | 2006          |
|-----------------------------------------------------------------------|--------|-----------------|-------------|--------------------|
| *(in                  thousands)*                                     |   | Qualified  |        | Nonqualified  |   | Qualified |   | Nonqualified  |
| ***Changes                  in benefit obligation***                  |   |            |        |               |   |   |   |   |   |   |   |   |
| Benefit                  obligation, beginning of year                |   | **$**           | **148,366** |               |   | **$** | **9,227** |   |   | $ | 142,643 |   |   | $ | 8,212 |   |
| Service                  cost for benefits                            |   | ** **      | **7,862**   |               |   | ** ** | **420** |   |   |   | 7,597 |   |   |   | 391 |   |
| Interest                  cost on benefit obligation                  |   | ** **      | **8,669**   |               |   | ** ** | **577** |   |   |   | 7,774 |   |   |   | 474 |   |
| Net                  actuarial (gain) loss                            |   | ** **      | **(599**    | **)**              |   | ** ** | **587** |   |   |   | (4,477 | ) |   |   | 198 |   |
| Benefits                  paid                                        |   | ** **      | **(5,332**  | **)**              |   | ** ** | **(48** | **)** |   |   | (5,171 | ) |   |   | (48 | ) |
| Benefit                  obligation, end of year                      |   | ** **      | **158,966** |               |   | ** ** | **10,763** |   |   |   | 148,366 |   |   |   | 9,227 |   |
| ***Changes                  in plan assets***                         |   |            |        |               |   |   |   |   |   |   |   |   |   |   |   |   |
| Plan                  assets at fair value, beginning of year         |   | ** **      | **136,275** |               |   | ** ** | **-** |   |   |   | 125,347 |   |   |   | - |   |
| Actual                  return on plan assets                         |   | ** **      | **5,356**   |               |   | ** ** | **-** |   |   |   | 16,621 |   |   |   | - |   |
| Employer                  contribution                                |   | ** **      | **-**       |               |   | ** ** | **48** |   |   |   | - |   |   |   | 48 |   |
| Benefits                  paid                                        |   | ** **      | **(5,332**  | **)**              |   | ** ** | **(48** | **)** |   |   | (5,171 | ) |   |   | (48 | ) |
| Plan                  expenses                                        |   | ** **      | **(526**    | **)**              |   | ** ** | **-** |   |   |   | (522 | ) |   |   | - |   |
| Plan                  assets at fair value, end of year               |   | ** **      | **135,773** |               |   | ** ** | **-** |   |   |   | 136,275 |   |   |   | - |   |
| ***Funded                  status and pension liability recognized*** |   | **$**           | **(23,193** | **)**              |   | **$** | **(10,763** | **)** |   | $ | (12,091 | ) |   | $ | (9,227 | ) |

|                                                   |   | **2007**   |     |   | 2006   |   |
|--------------------------------------------------------|--------|------------|----------|--------|--------|--------|
| Discount                  rate                         |   | ** ** | **6.00** | **%**  |   |   | 5.75 | % |
| Rate                  of future compensation increases |   | ** ** | **3.58** |   |   |   | 3.58 |   |

|                                                 |   | **2007**   |        | 2006          |   | 2005       |
|------------------------------------------------------|--------|-----------------|-------------|--------------------|--------|-----------------|
| *(in                  thousands)*                    |   | Qualified  |        | Nonqualified  |   | Qualified  |   | Nonqualified  |   | Qualified  |   | Nonqualified  |
| Service                  cost for benefits in period |   | **$**           | **7,862**   |               |   | **$**           | **420** |   |   | $ | 7,597 |   |   | $ | 391 |   |   | $ | 6,926 |   |   | $ | 395 |   |
| Interest                  cost on benefit obligation |   | ** **      | **8,669**   |               |   | ** **      | **577** |   |   |   | 7,774 |   |   |   | 474 |   |   |   | 7,208 |   |   |   | 415 |   |
| Expected                  return on plan assets      |   | ** **      | **(10,695** | **)**              |   | ** **      | **-** |   |   |   | (9,838 | ) |   |   | - |   |   |   | (8,352 | ) |   |   | - |   |
| Amortization                  of:                    |   |            |        |               |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Net                  actuarial loss      |   | ** **      | **906**     |               |   | ** **      | **284** |   |   |   | 1,763 |   |   |   | 227 |   |   |   | 920 |   |   |   | 181 |   |
|   Prior                  service credit    |   | ** **      | **(108**    | **)**              |   | ** **      | **(8** | **)** |   |   | (107 | ) |   |   | (9 | ) |   |   | (108 | ) |   |   | (9 | ) |
|   Transition                  obligation   |   | ** **      | **-**       |               |   | ** **      | **-** |   |   |   | - |   |   |   | 53 |   |   |   | - |   |   |   | 57 |   |
|  Net                  periodic pension expense  |   | **$**           | **6,634**   |               |   | **$**           | **1,273** |   |   | $ | 7,189 |   |   | $ | 1,136 |   |   | $ | 6,594 |   |   | $ | 1,039 |   |

----

|                                                      |   | **2007**   |     |   | 2006   |   |   | 2005   |   |
|-----------------------------------------------------------|--------|------------|----------|--------|--------|--------|--------|--------|--------|
| Discount                  rate                            |   | ** ** | **5.75** | **%**  |   |   | 5.50   | %      |   |   | 5.75 | % |
| Rate                  of future compensation increases    |   | ** ** | **3.58** |   |   |   | 3.58   |   |   |   | 4.00 |   |
| Expected                  long-term return on plan assets |   | ** ** | **8.00** |   |   |   | 8.00   |   |   |   | 8.00 |   |

*Employers’ Accounting for Defined Benefit Pension and Other        Postretirement Plans – an amendment of FASB Statements No. 87, 88, 106 and        132(R)*

|                                                                   |   | Net                  actuarial  |    | Prior                  service  |   |        |   |                              |   |                              |    | Total,  |
|------------------------------------------------------------------------|--------|--------------------------------------|---------|--------------------------------------|--------|-------------|--------|-----------------------------------|--------|-----------------------------------|---------|--------------|
| *(in                  thousands)*                                      |   | gain                  (loss)    |    | (cost)                  credit  |   | Total  |   | Tax                  effect  |   | net                  of tax  |
| Balance                  at December 31, 2006                          |   | $                                    | (22,381 | )                                    |   | $           | 152    |                              |   | $                                 | (22,229 | )            |   | $ | 7,780 |   |   | $ | (14,449 | ) |
| Changes                  arising during the period                     |   |                                 | (5,853  | )                                    |   |        | -      |                              |   |                              | (5,853  | )            |   |   | 2,048 |   |   |   | (3,805 | ) |
| Adjustments                  for amounts recognized in                 |   |                                 |    |                                 |   |        |   |                              |   |                              |    |         |   |   |   |   |   |   |   |   |
|   net                  periodic benefit cost                 |   |                                 | 1,190   |                                 |   |        | (116   | )                                 |   |                              | 1,074   |         |   |   | (377 | ) |   |   | 697 |   |
|   Recognized                  in comprehensive income (loss) |   |                                 | (4,663  | )                                    |   |        | (116   | )                                 |   |                              | (4,779  | )            |   |   | 1,671 |   |   |   | (3,108 | ) |
| Balance                  at December 31, 2007                          |   | $                                    | (27,044 | )                                    |   | $           | 36     |                              |   | $                                 | (27,008 | )            |   | $ | 9,451 |   |   | $ | (17,557 | ) |

|                                                             |   |                                     |             |                | Long-range   |   |   |
|------------------------------------------------------------------|--------|------------------------------------------|------------------|---------------------|------------------------|--------|--------|
|                                                             |   | Actual                  Allocation  |             | Average   | Policy            |
|                                                             |   | **2007**                       | 2006   | Target    | Range             |
| Equity                  securities                               |   | ** **                               | **67**           | **%**               |                   |   | 73     | % |   |   | 55 | % |   40-70 | % |
| Corporate                  debt securities                       |   | ** **                               | **13**           |                |                   |   | 11     |   |   |   |   |   |   |   |   |   |
| U.                  S. Treasury and government agency securities |   | ** **                               | **18**           |                |                   |   | 14     |   |   |   |   |   |   |   |   |   |
|   Total                  debt securities               |   | ** **                               | **31**           |                |                   |   | 25     |   |   |   | 40 |   |   30-50 |   |
| Cash                  investments                                |   | ** **                               | **2**            |                |                   |   | 2      |   |   |   | 5 |   |   0-10 |   |
|   Total                                                |   | ** **                               | **100**          | **%**               |                   |   | 100    | % |   |   |   |   |   |   |   |   |

----

***Health        and Welfare Plans***

----

| *(in                  thousands)*                                                                     |   | **2007**   |        |   | 2006   |   |
|-------------------------------------------------------------------------------------------------------|--------|------------|-------------|--------|--------|--------|
| ***Changes                  in benefit obligation***                                                  |   |       |        |   |   |   |
| Benefit                  obligation, beginning of year                                                |   | **$**      | **27,128**  |   |   | $      | 20,150 |   |
| Service                  cost for benefits                                                            |   | ** ** | **434**     |   |   |   | 1,784 |   |
| Interest                  cost on benefit obligation                                                  |   | ** ** | **999**     |   |   |   | 1,057 |   |
| Participant                  contributions                                                            |   | ** ** | **724**     |   |   |   | 671 |   |
| Net                  actuarial (gain) loss                                                            |   | ** ** | **(691**    | **)**  |   |   | 4,903 |   |
| Plan                  amendment                                                                       |   | ** ** | **(11,777** | **)**  |   |   | - |   |
| Benefits                  paid, net of Medicare subsidy received                                      |   | ** ** | **(1,621**  | **)**  |   |   | (1,437 | ) |
| Benefit                  obligation, end of year                                                      |   | ** ** | **15,196**  |   |   |   | 27,128 |   |
| ***Changes                  in plan assets***                                                         |   |       |        |   |   |   |   |   |
| Plan                  assets, beginning of year                                                       |   | ** ** | **-**       |   |   |   | - |   |
| Employer                  contributions                                                               |   | ** ** | **897**     |   |   |   | 766 |   |
| Participant                  contributions                                                            |   | ** ** | **724**     |   |   |   | 671 |   |
| Benefits                  paid, net of Medicare subsidy received                                      |   | ** ** | **(1,621**  | **)**  |   |   | (1,437 | ) |
| Plan                  assets, end of year                                                             |   | ** ** | **-**       |   |   |   | - |   |
| ***Funded                  status and postretirement benefit liability                  recognized*** |   | **$**      | **(15,196** | **)**  |   | $      | (27,128 | ) |

|                                                                           |   | Pre-                  and Post-     |
|--------------------------------------------------------------------------------|--------|------------------------------------------|
|                                                                           |   | Medicare                  Age Cost  |
|                                                                           |   | **2007**                                 |   |   | 2006 |   |
| Cost                  trend rate for next year                                 |   | ** **                               | **8** | **%** |   |   | 8 | % |
| Ultimate                  rate to which the cost trend rate gradually declines |   | ** **                               | **5** |   |   |   | 5 |   |
| Year                  in which the ultimate trend rate is reached              |   | **2011**                                 |   |   | 2010 |   |

| *(in                  thousands)*                                  |   | **2007**   |       |   | 2006   |   |   | 2005   |   |
|--------------------------------------------------------------------|--------|------------|------------|--------|--------|--------|--------|--------|--------|
| Service                  cost for benefits in period               |   | **$**      | **434**    |   |   | $      | 1,784  |   |   | $ | 1,438 |   |
| Interest                  cost on benefit obligation               |   | ** ** | **999**    |   |   |   | 1,057  |   |   |   | 862 |   |
| Amortization                  of:                                  |   |       |       |   |   |   |   |   |   |   |   |   |
|   Net                  actuarial loss                    |   | ** ** | **2,016**  |   |   |   | 722    |   |   |   | 548 |   |
|   Prior                  service credit                  |   | ** ** | **(1,960** | **)**  |   |   | (564   | )      |   |   | (564 | ) |
| Prior                  service credit recognized on plan amendment |   | ** ** | **(734**   | **)**  |   |   | -      |   |   |   | - |   |
| Net                  periodic postretirement benefit expense       |   | **$**      | **755**    |   |   | $      | 2,999  |   |   | $ | 2,284 |   |

----

| *(in                  thousands)*                                              |   | 1%                  Increase  |      | 1%                  Decrease  |
|--------------------------------------------------------------------------------|--------|------------------------------------|-----------|------------------------------------|
| Effect                  on total of service and interest components of expense |   | **$**                              | **69**    |                               |   | **$** | **(44** | **)** |
| Effect                  on postretirement benefit obligation                   |   | ** **                         | **1,060** |                               |   | ** ** | **(654** | **)** |

|                                                                   |   | Net                  actuarial  |    | Prior                  service  |   |        |   |                              |   |                              |    | Total  |
|------------------------------------------------------------------------|--------|--------------------------------------|---------|--------------------------------------|--------|-------------|--------|-----------------------------------|--------|-----------------------------------|---------|-------------|
| *(in                  thousands)*                                      |   | gain                  (loss)    |    | (cost)                  credit  |   | Total  |   | Tax                  effect  |   | net                  of tax  |
| Balance                  at December 31, 2006                          |   | $                                    | (14,061 | )                                    |   | $           | 1,019  |                              |   | $                                 | (13,042 | )           |   | $ | 4,565 |   |   | $ | (8,477 | ) |
| Changes                  arising during the period:                    |   |                                 |    |                                 |   |        |   |                              |   |                              |    |        |   |   |   |   |   |   |   |   |
|   Plan                  amendment                            |   |                                 | 600     |                                 |   |        | 10,444 |                              |   |                              | 11,044  |        |   |   | (3,865 | ) |   |   | 7,179 |   |
|   Other                  changes arising during the period   |   |                                 | 714     |                                 |   |        | -      |                              |   |                              | 714     |        |   |   | (250 | ) |   |   | 464 |   |
| Adjustments                  for amounts recognized in                 |   |                                 |    |                                 |   |        |   |                              |   |                              |    |        |   |   |   |   |   |   |   |   |
|   net                  periodic benefit cost                 |   |                                 | 2,016   |                                 |   |        | (1,960 | )                                 |   |                              | 56      |        |   |   | (20 | ) |   |   | 36 |   |
|   Recognized                  in comprehensive income (loss) |   |                                 | 3,330   |                                 |   |        | 8,484  |                              |   |                              | 11,814  |        |   |   | (4,135 | ) |   |   | 7,679 |   |
| Balance                  at December 31, 2007                          |   | $                                    | (10,731 | )                                    |   | $           | 9,503  |                              |   | $                                 | (1,228  | )           |   | $ | 430 |   |   | $ | (798 | ) |

**NOTE        16**

**SHARE-BASED        COMPENSATION**

----

|                                                                     |   | Tenure-based  |    | Performance-based            |
|--------------------------------------------------------------------------|--------|--------------------|---------|-----------------------------------|
|                                                                     |   |               |    |                              | Weighted-  |   |   |   |   | Weighted-  |
|                                                                     |   |               |    |                              | Average  |   |   |   |   | Average  |
|                                                                     |   |               |    |                              | Grant                  Date  |   |   |   |   | Grant                  Date  |
|                                                                     |   | Shares        |    | Fair                  Value  |   | Shares  |   | Fair                  Value  |
| Nonvested                  at December 31, 2006                          |   |               | -       |                              |   | $ | - |   |   |   | 1,218,240 |   |   | $ | 32.40 |   |
|   Granted                                                      |   |               | 105,175 |                              |   |   | 28.76 |   |   |   | 305,375 |   |   |   | 27.33 |   |
|   Net                  change on updated performance estimates |   |               | -       |                              |   |   | - |   |   |   | 48,240 |   |   |   | 32.82 |   |
|   Vested                                                       |   |               | -       |                              |   |   | - |   |   |   | (342,980 | ) |   |   | 29.08 |   |
|   Actual                  forfeitures                          |   |               | (500    | )                                 |   |   | 28.76 |   |   |   | (25,304 | ) |   |   | 33.17 |   |
| Nonvested                  at December 31, 2007 *(a)*                    |   |               | 104,675 |                              |   | $ | 28.76 |   |   |   | 1,203,571 |   |   | $ | 31.58 |   |

|   | *(a)**Performance-based                  total includes 858,738 shares that could be issued with respect                  to awards                  whose performance measurement periods were not**                       completed by December 31, 2007.  The maximum shares that                  potentially could be issued with respect to these awards total                  1,010,280.  Under certain**                       levels of ** performance,                  no shares would be issued.* |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                              |   |   |      |   | Weighted-                        |
|---------------------------------------------------|--------|--------|-----------|--------|---------------------------------------|
|                                              |   |   |      |   | Average                          |
|                                              |   | Number |      |   | Exercise                  Price  |
| Outstanding                  at December 31, 2004 |   |   | 3,012,497 |   |                                  | $ | 22.47 |   |
|   Options                  granted      |   |   | 506,325   |   |                                  |   | 31.73 |   |
|   Options                  exercised    |   |   | (591,216  | )      |                                  |   | 20.80 |   |
|   Options                  forfeited    |   |   | (19,562   | )      |                                  |   | 28.76 |   |
| Outstanding                  at December 31, 2005 |   |   | 2,908,044 |   |                                  |   | 24.38 |   |
|   Options                  granted      |   |   | 297,300   |   |                                  |   | 35.40 |   |
|   Options                  exercised    |   |   | (379,864  | )      |                                  |   | 21.29 |   |
|   Options                  forfeited    |   |   | (8,250    | )      |                                  |   | 30.43 |   |
| Outstanding                  at December 31, 2006 |   |   | 2,817,230 |   |                                  |   | 25.95 |   |
|   Options                  granted      |   |   | 239,450   |   |                                  |   | 29.06 |   |
|   Options                  exercised    |   |   | (191,027  | )      |                                  |   | 21.08 |   |
|   Options                  forfeited    |   |   | (52,675   | )      |                                  |   | 31.40 |   |
| Outstanding                  at December 31, 2007 |   |   | 2,812,978 |   |                                  | $ | 26.44 |   |
| Exercisable                  at December 31, 2007 |   |   | 2,400,278 |   |                                  | $ | 25.41 |   |

----

| *(dollars                  in thousands,*             |                      | Weighted-                 |                                        |      |
|-------------------------------------------------------|---------------------------|---------------------------|---------------------------------------------|-----------|
| *  except                  per share data)* |                      | Average                   |   Weighted-                       | Aggregate |
|                                                  |                      | Years                  to |   Average                         | Intrinsic |
| Range                  of Exercise Prices             | Number                    | Expiration                |   Exercise                  Price | Value     |
| ***Options                  Exercisable***            |                      |                      |                                        |      |
| $15.31-$18.86                                         |    447,298 |  2.5                 | $17.72                                      |      |
| $20.52-$24.44                                         |    807,074 |  4.1                 |   22.60                           |      |
| $28.86-$29.83                                         |    593,406 |  6.5                 |   28.95                           |      |
| $30.10-$35.37                                         |    552,500 |  7.8                 |   31.94                           |      |
| $15.31-$35.37                                         | 2,400,278                 |  5.1                 | $25.41                                      | $6,636    |
| ***Options                  Outstanding***            |                      |                      |                                        |      |
| $15.31-$35.41                                         | 2,812,978                 | 5.7                       | $26.44                                      | $6,636    |

|                                                 |                  Years                  Ended December 31 |
|------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                    | **2007**                                                                                                                                       | 2006 | 2005 |
| Proceeds                  from option exercises      | **$3,813**                                                                                                                                     | $7,323 | $11,767 |
| Intrinsic                  value of option exercised | **1,703**                                                                                                                                      | 5,068 | 5,983 |
| Tax                  benefit realized                | **475**                                                                                                                                        | 1,503 | 1,738 |

----

| *(in                  thousands, except per share data)*                            |   | 2005   |    |
|-------------------------------------------------------------------------------------|--------|--------|---------|
| Net                  income                                                         |   | $      | 102,349 |   |
| Share-based                  compensation expense included in reported net income,  |   |   |    |   |
|   net                  of related tax effects                             |   |   | 6,091   |   |
| Share-based                  compensation expense determined under fair value-based |   |   |    |   |
|   method                  for all awards, net of related tax effects      |   |   | (7,696  | ) |
| Pro                  forma net income                                               |   | $      | 100,744 |   |
| Earnings                  per share:                                                |   |   |    |   |
|   Basic                  - as reported                                    |   | $      | 1.65    |   |
|   Basic                  - pro forma                                      |   |   | 1.62    |   |
|   Diluted                  - as reported                                  |   |   | 1.63    |   |
|   Diluted                  - pro forma                                    |   |   | 1.60    |   |

|                                                                       |   | **2007**   |      |   | 2006   |   |   | 2005   |   |
|----------------------------------------------------------------------------|--------|------------|-----------|--------|--------|--------|--------|--------|--------|
| Weighted-average                  expected annualized volatility           |   | ** ** | **21.17** | **%**  |   |   | 22.85  | %      |   |   | 22.97 | % |
| Weighted-average                  option life (in years)                   |   | ** ** | **6.61**  |   |   |   | 5.40   |   |   |   | 5.60 |   |
| Expected                  annual dividend yield                            |   | ** ** | **3.50**  | **%**  |   |   | 3.25   | %      |   |   | 3.14 | % |
| Weighted-average                  risk-free interest rate                  |   | ** ** | **4.96**  | **%**  |   |   | 5.14   | %      |   |   | 3.87 | % |
| Weighted-average                  grant date fair value of options awarded |   | **$**      | **5.83**  |   |   | $      | 7.40   |   |   | $ | 6.09 |   |

**NOTE        17**

**REGULATORY        MATTERS**

***Regulatory        Capital Requirements***

----

| *(dollars                    in thousands)*                                                                                                                          |   | Actual  |          |        |   |               | Well-  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------------|-------------|--------|--------------------|-------------|
| **December                    31, 2007**                                                                                                                             |   | Amount  |          | Ratio  |   | Minimum*(a)*  |        | Capitalized*(b)*  |
| Leverage                    (Tier 1 Capital to Average Assets):                                                                                                      |   |         |          |        |   |               |        |   |   |   |   |   |
|       Company                                                                                                                          |   | **$**        | **911,141**   |        |   | ** **         | **8.79**    | **%** |   | **$** | **414,683** |   |   | ***(c)*** |   |
|       Bank                                                                                                                             |   | ** **   | **792,175**   |        |   | ** **         | **7.66**    |   |   | ** ** | **413,744** |   |   | **$** | **517,180** |   |
| Tier                    1 Capital (to Risk-Weighted Assets):                                                                                                         |   |         |          |        |   |               |        |   |   |   |   |   |   |   |   |   |
|       Company                                                                                                                          |   | ** **   | **911,141**   |        |   | ** **         | **10.10**   |   |   | ** ** | **360,954** |   |   | ***(c)*** |   |
|       Bank                                                                                                                             |   | ** **   | **792,175**   |        |   | ** **         | **8.80**    |   |   | ** ** | **360,016** |   |   | ** ** | **540,024** |   |
| Total                    Capital (to Risk-Weighted Assets):                                                                                                          |   |         |          |        |   |               |        |   |   |   |   |   |   |   |   |   |
|       Company                                                                                                                          |   | ** **   | **1,150,108** |        |   | ** **         | **12.75**   |   |   | ** ** | **721,909** |   |   | ***(c)*** |   |
|       Bank                                                                                                                             |   | ** **   | **1,031,011** |        |   | ** **         | **11.46**   |   |   | ** ** | **720,033** |   |   | ** ** | **900,041** |   |
| December                    31, 2006                                                                                                                                 |   |         |          |        |   |               |        |   |   |   |   |   |   |   |   |   |
| Leverage                    (Tier 1 Capital to Average Assets):                                                                                                      |   |         |          |        |   |               |        |   |   |   |   |   |   |   |   |   |
|       Company                                                                                                                          |   | $            | 853,774       |        |   |               | 8.76        | % |   | $ | 389,706 |   |   | *(c)* |   |
|       Bank                                                                                                                             |   |         | 775,536       |        |   |               | 7.98        |   |   |   | 388,964 |   |   | $ | 486,204 |   |
| Tier                    1 Capital (to Risk-Weighted Assets):                                                                                                         |   |         |          |        |   |               |        |   |   |   |   |   |   |   |   |   |
|       Company                                                                                                                          |   |         | 853,774       |        |   |               | 10.24       |   |   |   | 333,637 |   |   | *(c)* |   |
|       Bank                                                                                                                             |   |         | 775,536       |        |   |               | 9.32        |   |   |   | 332,857 |   |   |   | 499,285 |   |
| Total                    Capital (to Risk-Weighted Assets):                                                                                                          |   |         |          |        |   |               |        |   |   |   |   |   |   |   |   |   |
|       Company                                                                                                                          |   |         | 931,601       |        |   |               | 11.17       |   |   |   | 667,274 |   |   | *(c)* |   |
|       Bank                                                                                                                             |   |         | 853,292       |        |   |               | 10.25       |   |   |   | 665,714 |   |   |   | 832,142 |   |
| *(a)                    Minimum capital required for capital adequacy                    purposes.*                                                                  |   |
| *(b)                    Capital required for well-capitalized status under regulatory                    framework                    for prompt corrective action.* |   |
| *(c)                    Not applicable.*                                                                                                                             |   |

***Other        Regulatory Matters***

----

**NOTE        18**

**OFF-BALANCE        SHEET FINANCIAL INSTRUMENTS**

|                                                   |                                                           December 31 |
|--------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                      | **2007**                                                                                                                                                                                                                                                                      | 2006 |
| Loan                  commitments – revolving    | **$2,475,656**                                                                                                                                                                                                                                                                | $2,261,861 |
| Loan                  commitments – nonrevolving | **534,673**                                                                                                                                                                                                                                                                   | 471,264 |
| Credit                  card and personal credit lines | **551,748**                                                                                                                                                                                                                                                                   | 528,276 |
| Standby                  and other letters of credit   | **391,922**                                                                                                                                                                                                                                                                   | 385,478 |

----

**NOTE        19**

**ESTIMATED        FAIR VALUE OF FINANCIAL INSTRUMENTS**

*Disclosures about Fair Value of Financial Instruments*

*Cash,        federal funds sold and short-term investments*

*Investment        in securities*

*Loans*

*Deposits        *

*Short-term        borrowings*

*Long-term        debt*

*Off-balance        sheet financial instruments*

|                                                         |   | **December                  31, 2007**  |          | December                  31, 2006  |
|--------------------------------------------------------------|--------|----------------------------------------------|---------------|------------------------------------------|
|                                                         |   | Carrying                                |          | Fair                                |   | Carrying  |   | Fair  |
| *(in                  thousands)*                            |   | Amount                                  |          | Value                               |   | Amount  |   | Value  |
| ASSETS:                                                      |   |                                         |          |                                     |   |   |   |   |   |   |   |   |
|   Cash                  and short-term investments |   | **$**                                        | **824,757**   |                                     |   | **$** | **824,757** |   |   | $ | 632,244 |   |   | $ | 632,244 |   |
|   Investment                  securities           |   | ** **                                   | **1,985,237** |                                     |   | ** ** | **1,987,239** |   |   |   | 1,886,093 |   |   |   | 1,886,306 |   |
|   Loans                  held for sale             |   | ** **                                   | **16,575**    |                                     |   | ** ** | **16,840** |   |   |   | 26,966 |   |   |   | 27,380 |   |
|   Loans,                  net                      |   | ** **                                   | **7,497,792** |                                     |   | ** ** | **7,503,265** |   |   |   | 6,974,489 |   |   |   | 6,926,462 |   |
| LIABILITIES:                                                 |   |                                         |          |                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|   Deposits                                         |   | ** **                                   | **8,583,789** |                                     |   | ** ** | **8,588,181** |   |   |   | 8,433,308 |   |   |   | 8,432,291 |   |
|   Short-term                  borrowings           |   | ** **                                   | **910,019**   |                                     |   | ** ** | **910,019** |   |   |   | 499,533 |   |   |   | 499,533 |   |
|   Long-term                  debt                  |   | ** **                                   | **165,455**   |                                     |   | ** ** | **161,021** |   |   |   | 17,394 |   |   |   | 17,515 |   |

----

**NOTE        20**

**CONTINGENCIES**

***Legal        Proceedings***

** **

***Indemnification        Obligation***

***Insurance        Matters Related to Natural Disaster***

**NOTE        21**

**OTHER        NONINTEREST INCOME**

|                                                                         |   | Years                  Ended December 31  |
|------------------------------------------------------------------------------|--------|------------------------------------------------|
| *(in                  thousands)*                                            |   | **2007**                                       |   |   | 2006 |   |   | 2005 |   |
| Credit-related                  fees                                         |   | **$**                                          | **5,417** |   |   | $ | 5,307 |   |   | $ | 5,029 |   |
| Investment                  services income                                  |   | ** **                                     | **5,836** |   |   |   | 4,994 |   |   |   | 3,655 |   |
| ATM                  fees                                                    |   | ** **                                     | **5,374** |   |   |   | 5,154 |   |   |   | 4,085 |   |
| Other                  fees and charges                                      |   | ** **                                     | **4,818** |   |   |   | 4,511 |   |   |   | 3,745 |   |
| Other                  operating income                                      |   | ** **                                     | **35,181** |   |   |   | 3,201 |   |   |   | 4,536 |   |
| Net                  gains on sales and other revenue from foreclosed assets |   | ** **                                     | **5,109** |   |   |   | 2,102 |   |   |   | 2,692 |   |
| Net                  gains (losses) on disposals of surplus property         |   | ** **                                     | **(100** | **)** |   |   | (57 | ) |   |   | 1,369 |   |
|      Total                                          |   | **$**                                          | **61,635** |   |   | $ | 25,212 |   |   | $ | 25,111 |   |

----

**NOTE        22**

**OTHER        NONINTEREST EXPENSE**

|                                                    |                  Years                  Ended December 31 |
|---------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                       | **2007**                                                                                                                                       | 2006 | 2005 |
| Security                  and other outsourced services | ** $15,735**                                                                                                                              |  $14,755 |  $10,493 |
| Advertising                  and promotion              | **4,740**                                                                                                                                      | 6,999 | 4,436 |
| Operating                  supplies                     | **4,120**                                                                                                                                      | 4,419 | 3,853 |
| Bank                  card processing services          | **4,008**                                                                                                                                      | 3,508 | 3,036 |
| Deposit                  insurance and regulatory fees  | **2,462**                                                                                                                                      | 2,494 | 2,160 |
| Miscellaneous                  operating losses         | **4,140**                                                                                                                                      | 8,449 | 6,044 |
| Other                  operating expense                | **20,383**                                                                                                                                     | 25,050 | 19,348 |
|     Total                           | ** $55,588**                                                                                                                              |  $65,674 |  $49,370 |

**NOTE        23**

**INCOME        TAXES**

|                                                                                              |   |            Years                  Ended December 31  |
|---------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                                                 |   | **2007**                                                                                                         |   |   | 2006 |   |   | 2005 |   |
| Included                  in net income                                                           |   |                                                                                                             |   |   |   |   |   |   |   |
|   Current                                                                               |   |                                                                                                             |   |   |   |   |   |   |   |
|     Federal                                                                   |   | **$**                                                                                                            | **67,692** |   |   | $ | 68,799 |   |   | $ | 52,538 |   |
|     State                                                                     |   | ** **                                                                                                       | **3,297** |   |   |   | 2,366 |   |   |   | 2,084 |   |
|       Total                  current                                |   | ** **                                                                                                       | **70,989** |   |   |   | 71,165 |   |   |   | 54,622 |   |
|   Deferred                                                                              |   |                                                                                                             |   |   |   |   |   |   |   |   |   |   |
|     Federal                                                                   |   | ** **                                                                                                       | **3,445** |   |   |   | (2,121 | ) |   |   | (11,030 | ) |
|     State                                                                     |   | ** **                                                                                                       | **(124** | **)** |   |   | 120 |   |   |   | (585 | ) |
|       Total                  deferred                               |   | ** **                                                                                                       | **3,321** |   |   |   | (2,001 | ) |   |   | (11,615 | ) |
|       Total                  included in net income                 |   | **$**                                                                                                            | **74,310** |   |   | $ | 69,164 |   |   | $ | 43,007 |   |
| Included                  in shareholders’ equity                                           |   |                                                                                                             |   |   |   |   |   |   |   |   |   |   |
|   Deferred                  tax related to the change in the                            |   |                                                                                                             |   |   |   |   |   |   |   |   |   |   |
|     net                  unrealized gain or (loss) on securities              |   | **$**                                                                                                            | **9,497** |   |   | $ | 1,154 |   |   | $ | (9,298 | ) |
|   Deferred                  tax related to the change in the pension                    |   |                                                                                                             |   |   |   |   |   |   |   |   |   |   |
|     and                  other post-retirement benefits liabilities           |   | ** **                                                                                                       | **2,463** |   |   |   | 46 |   |   |   | (534 | ) |
|   Current                  tax related to nonqualified stock options                    |   |                                                                                                             |   |   |   |   |   |   |   |   |   |   |
|     and                  restricted stock                                     |   | ** **                                                                                                       | **(998** | **)** |   |   | (2,582 | ) |   |   | (2,107 | ) |
|       Total                  included in shareholders’ equity |   | **$**                                                                                                            | **10,962** |   |   | $ | (1,382 | ) |   | $ | (11,939 | ) |

----

|                                                                  |   |                      Years Ended December 31  |
|-----------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| *(in                  percentages)*                                   |   | **2007**                                                          |   |   | 2006 |   |   | 2005 |   |
| Federal                  income tax rate                              |   | ** **                                                        | **35.00** | **%** |   |   | 35.00 | % |   |   | 35.00 | % |
| Increase                  (decrease) resulting from                   |   |                                                              |   |   |   |   |   |   |   |   |   |   |
|   Tax                  exempt income                        |   | ** **                                                        | **(1.52** | **)** |   |   | (1.69 | ) |   |   | (2.50 | ) |
|   Low                  income housing credits               |   | ** **                                                        | **(1.07** | **)** |   |   | (1.10 | ) |   |   | (1.64 | ) |
|   Disaster-relief                  credit                   |   | ** **                                                        | **(.16** | **)** |   |   | (.33 | ) |   |   | (1.31 | ) |
|   State                  income tax and miscellaneous items |   | ** **                                                        | **.72** |   |   |   | .47 |   |   |   | .04 |   |
| Effective                  tax rate                                   |   | ** **                                                        | **32.97** | **%** |   |   | 32.35 | % |   |   | 29.59 | % |

|                                                                                     |                                                     December                  31 |
|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                                        | **2007**                                                                                                                                                                                                                                                   | 2006 |
| Deferred                  tax assets**:**                                                |                                                                                                                                                                                                                                                       |   |
|   Allowance                  for credit losses and losses on foreclosed assets | **$31,041**                                                                                                                                                                                                                                                |  $26,970 |
|   Employee                  compensation and benefits                          | **31,323**                                                                                                                                                                                                                                                 | 28,363 |
|   Net                  unrealized loss on securities available for sale        | **242**                                                                                                                                                                                                                                                    | 9,740 |
|   Unrecognized                  interest income                                | **4,848**                                                                                                                                                                                                                                                  | 5,124 |
|   Other                                                                        | **7,485**                                                                                                                                                                                                                                                  | 6,421 |
|   Total                  deferred tax assets                                   | **74,939**                                                                                                                                                                                                                                                 | 76,618 |
| Deferred                  tax liabilities:                                               |                                                                                                                                                                                                                                                       |   |
|   Depreciable                  and amortizable assets                          | **14,274**                                                                                                                                                                                                                                                 | 8,316 |
|   Gain                  recognized on casualty insurance settlement            | **7,262**                                                                                                                                                                                                                                                  | **-** |
|   Other                                                                        | **1,685**                                                                                                                                                                                                                                                  | 1,388 |
|   Total                  deferred tax liabilities                              | **23,221**                                                                                                                                                                                                                                                 | 9,704 |
|   Net                  deferred tax asset                                      | **$51,718**                                                                                                                                                                                                                                                |  $66,914 |

*Accounting for Uncertainty in Income Taxes*

----

**NOTE        24**

**STOCK        REPURCHASE PROGRAM**

**NOTE        25**

**EARNINGS        PER SHARE**

|                                                                            |                      Years                  Ended December 31 |
|---------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(dollars                  in thousands, except per share data)*                | **      2007**                                                                                                                           |       2006 |       2005 |
| Numerator:                                                                      |                                                                                                                                                                   |   |   |
|   Net                  income                                         | **$151,054**                                                                                                                                                           | $144,645 |  $102,349 |
|   Effect                  of dilutive securities                      | **-**                                                                                                                                                                  | - | - |
|   Numerator                  for diluted earnings per share           | **$151,054**                                                                                                                                                           | $144,645 |  $102,349 |
| Denominator:                                                                    |                                                                                                                                                                   |   |   |
|   Weighted-average                  shares outstanding                | **66,953,343**                                                                                                                                                         | 64,687,363 | 62,008,004 |
|   Effect                  of potentially dilutive securities          |                                                                                                                                                                   |   |   |
|      and                  contingently issuable shares | **904,964**                                                                                                                                                            | 1,165,786 | 945,289 |
|   Denominator                  for diluted earnings per share         | **67,858,307**                                                                                                                                                         | 65,853,149 | 62,953,293 |
| Earnings                  per share:                                            |                                                                                                                                                                   |   |   |
|   Basic                                                               | **$2.26**                                                                                                                                                              | $2.24 |  $1.65 |
|   Diluted                                                             | **2.23**                                                                                                                                                               | 2.20 | 1.63 |
| Antidilutive                  stock options                                     | **1,060,741**                                                                                                                                                          | 137,090 | 425,259 |

**NOTE        26**

**PARENT        COMPANY FINANCIAL STATEMENTS**

| **BALANCE                  SHEETS**                                                       |                                                 December 31 |
|-------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *(in                  thousands)*                                                         | **2007**                                                                                                                                                                                                          | 2006 |
| **ASSETS**                                                                                |                                                                                                                                                                                                              |   |
|   Investment                  in bank subsidiary                                | **$1,121,770**                                                                                                                                                                                                    | $   969,723 |
|   Cash                  and cash equivalents                                    | **125.540**                                                                                                                                                                                                       | 89,968 |
|   Investments                  in nonbank subsidiaries                          | **3,024**                                                                                                                                                                                                         | 3,054 |
|   Notes                  receivable - nonbank subsidiaries                      | **4,184**                                                                                                                                                                                                         | 82,934 |
|   Other                  assets                                                 | **17,099**                                                                                                                                                                                                        | 17,601 |
|     Total                  assets                                     | **$1,271,617**                                                                                                                                                                                                    | $1,160,280 |
| **LIABILITIES**                                                                           |                                                                                                                                                                                                              |   |
|   Subordinated                  debentures                                      | **$     13,389**                                                                                                                                                                         | $     16,818 |
|   Dividends                  payable                                            | **15,914**                                                                                                                                                                                                        | 14,704 |
|   Other                  liabilities                                            | **13,578**                                                                                                                                                                                                        | 15,796 |
|     Total                  liabilities                                | **42,881**                                                                                                                                                                                                        | 47,318 |
| **SHAREHOLDERS’                  EQUITY**                                           | **1,228,736**                                                                                                                                                                                                     | 1,112,962 |
|     Total                  liabilities and shareholders’ equity | **$1,271,617**                                                                                                                                                                                                    | $1,160,280 |

----

| **STATEMENTS                  OF INCOME**                                  |   | Years                  Ended December 31 |        |
|----------------------------------------------------------------------------|--------|------------------------------------------|-------------|
| *(in                  thousands)*                                          |   | **2007**                                 |        |   | 2006 |   |   | 2005 |   |
| Dividend                  income from bank subsidiary                      |   | **$**                                    | **80,000**  |   |   | $ | 95,000 |   |   | $ | 65,000 |   |
| Equity                  in undistributed earnings (losses) of subsidiaries |   |                                     |        |   |   |   |   |   |   |   |   |   |
|   Bank                                                           |   | ** **                               | **66,683**  |   |   |   | 45,981 |   |   |   | 32,510 |   |
|   Nonbanks                                                       |   | ** **                               | **21**      |   |   |   | (11 | ) |   |   | 102 |   |
| Other                  income, net of expenses                             |   | ** **                               | **4,350**   |   |   |   | 3,675 |   |   |   | 4,737 |   |
| Net                  income                                                |   | **$**                                    | **151,054** |   |   | $ | 144,645 |   |   | $ | 102,349 |   |

| **STATEMENTS                  OF CASH FLOWS**                                       |   | Years                  Ended December 31 |         |
|-------------------------------------------------------------------------------------|--------|------------------------------------------|--------------|
| *(in                  thousands)*                                                   |   | **2007**                                 |         |   | 2006 |   |   | 2005 |   |
| **OPERATING                  ACTIVITIES**                                           |   |                                     |         |   |   |   |   |   |   |
| Net                  income                                                         |   | **$**                                    | **151,054**  |   |   | $ | 144,645 |   |   | $ | 102,349 |   |
| Adjustments                  to reconcile net income to net cash provided           |   |                                     |         |   |   |   |   |   |   |   |   |   |
|   by                  operating activities:                               |   |                                     |         |   |   |   |   |   |   |   |   |   |
|   Equity                  in undistributed earnings of subsidiaries       |   | ** **                               | **(66,704**  | **)** |   |   | (45,970 | ) |   |   | (32,612 | ) |
|   Other,                  net                                             |   | ** **                               | **1,593**    |   |   |   | (761 | ) |   |   | 2,080 |   |
|     Net                  cash provided by operating activities  |   | ** **                               | **85,943**   |   |   |   | 97,914 |   |   |   | 71,817 |   |
| **INVESTING                  ACTIVITIES**                                           |   |                                     |         |   |   |   |   |   |   |   |   |   |
|   Investments                  in subsidiaries, net                       |   | ** **                               | **(13,291**  | **)** |   |   | (41,167 | ) |   |   | (55,458 | ) |
|   Loans                  to nonbank subsidiaries, net of repayments       |   | ** **                               | **78,750**   |   |   |   | (500 | ) |   |   | (660 | ) |
|     Net                  cash used in investing activities      |   | ** **                               | **65,459**   |   |   |   | (41,667 | ) |   |   | (56,118 | ) |
| **FINANCING                  ACTIVITIES**                                           |   |                                     |         |   |   |   |   |   |   |   |   |   |
|   Cash                  dividends                                         |   | ** **                               | **(77,340**  | **)** |   |   | (68,111 | ) |   |   | (61,150 | ) |
|   Proceeds                  from issuance of stock                        |   | ** **                               | **6,932**    |   |   |   | 10,113 |   |   |   | 14,185 |   |
|   Purchases                  of stock                                     |   | ** **                               | **(52,782**  | **)** |   |   | (3,165 | ) |   |   | (52,924 | ) |
|   Share-based                  compensation reimbursed by bank subsidiary |   | ** **                               | **13,329**   |   |   |   | 5,817 |   |   |   | - |   |
|   Repayment                  of long-term debt                            |   | ** **                               | **(3,093**   | **)** |   |   | - |   |   |   | - |   |
|   Other,                  net                                             |   | ** **                               | **124**      |   |   |   | 457 |   |   |   | - |   |
|     Net                  cash used in financing activities      |   | ** **                               | **(112,830** | **)** |   |   | (54,889 | ) |   |   | (99,889 | ) |
|   Increase                  (decrease) in cash and cash equivalents       |   | ** **                               | **38,572**   |   |   |   | 1,358 |   |   |   | (84,190 | ) |
|   Cash                  and cash equivalents at beginning of year         |   | ** **                               | **86,968**   |   |   |   | 85,610 |   |   |   | 169,800 |   |
|   Cash                  and cash equivalents at end of year               |   | **$**                                    | **125,540**  |   |   | $ | 86,968 |   |   | $ | 85,610 |   |

----

**Item        9:  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND        FINANCIAL DISCLOSURE**

**Item        9A:  CONTROLS AND PROCEDURES**

***    Evaluation        of        Disclosure Controls and Procedures.  ***

***    Management’s        Report on Internal Control over Financial Reporting and Report of Independent        Registered Public Accounting Firm.***
*** ***

***    Changes        in        Internal Control over Financial Reporting.***

**Item        9B: OTHER INFORMATION**

----

**PART        III**

**Item        10: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE**

| ·   | The                    subsections entitled “Board of Directors,” “Nominating and Corporate                    Governance Committee,” and “Audit Committee” of the section entitled                    “Board of Directors and Its                    Committees.” |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                    section entitled “Section 16(a) Beneficial Ownership Reporting                    Compliance.” |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                    section entitled “Transactions with Related                    Persons.” |
|--------------------|-------------------------------------------------------------------------------------------------------------|

**Item        11: EXECUTIVE COMPENSATION**

| ·   | The                  section entitled “Executive                  Compensation.” |
|--------------------|----------------------------------------------------------------------------------------------|

| ·   | The                  subsections entitled “Board Committees” and “Compensation and Human                  Resources Committee” of the section entitled “Board of Directors and Its                  Committees.” |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                  section entitled “Compensation and Human Resources Committee Interlocks                  and Insider Participation.” |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                  section entitled “Compensation Discussion and                  Analysis.” |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | The                  section entitled “Compensation and Human Resources Committee                  Report.” |
|--------------------|-------------------------------------------------------------------------------------------------------------------------|

----

**Item        12: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND        MANAGEMENT**

**                       AND RELATED STOCKHOLDER MATTERS**

**Equity        Compensation Plan Information**

|                                                                        | (a)                                                                                                                                                                  | (b)                                                                                                                                             | (c)                                                                                                                                                                                                                                                         |
|-----------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **Plan                  category**                                          | Number                  of securities to be issued                  upon exercise of outstanding                  options, warrants                  and rights | Weighted-average                  exercise                  price of outstanding                  options, warrants                  and rights | Number                  of securities remaining                  available for future                  issuance under equity                  compensation plans (excluding                  securities reflected                  in column (a)) |
| Equity                  compensation plans                                  |                                                                                                                                                                 |                                                                                                                                            |                                                                                                                                                                                                                                                        |
|      approved                  by shareholders     |     2,904,765                  (1)                                                                                                               |     $26.44                  (2)                                                                                             |     2,941,016                  (3)                                                                                                                                                                                                      |
| Equity                  compensation plans                                  |                                                                                                                                                                 |                                                                                                                                            |                                                                                                                                                                                                                                                        |
|      not                  approved by shareholders | ---                                                                                                                                                                  | ---                                                                                                                                             | ---                                                                                                                                                                                                                                                         |
|       Total                                   | 2,904,765                                                                                                                                                            | $26.44                                                                                                                                          | 2,941,016                                                                                                                                                                                                                                                   |

|  (1) | The                  total includes an aggregate of 2,434,978 shares that can be issued                  on the                  exercise of options held by employees.  185,450 shares are                  subject to options granted under the 2007 Long-Term Compensation                  Plan                  (2007 LTCP), 1,152,656 shares are subject to options granted under                  the                  2004 Long-Term Incentive Plan (2004 LTIP), and 1,096,872 shares                  are                  subject to options granted under the 1997 Long-Term Incentive Plan                  (1997                  LTIP).  The total also includes an aggregate of 378,000 shares                  that can be issued on the exercise of options held by nonemployee                  directors of the Company.  These options were granted under the                  Directors’ Compensation Plan, as amended and                  restated. |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Also                  included in the total are 91,787 common stock equivalent units                  held in                  deferred compensation accounts maintained for certain of the Company’s                  directors, which must eventually be distributed as common shares                  of the                  Company.  As allowed under the Directors’ Compensation Plan,                  certain nonemployee directors have deferred receipt of annual stock                  awards                  and fees, and the value of these deferrals has been credited to                  a                  bookkeeping account maintained for each director.  The value of                  an account is indexed to the performance of one or more investment                  options                  specified in the plans.  One of the investment options is                  equivalent units of the Company’s common stock.  This option is                  mandatory for deferred stock awards and was extended by the Directors’                  Compensation Plan to deferred compensation account balances maintained                  under a prior deferred compensation plan. The number of common                  stock                  equivalent units allocated to a director’s account for each deferral is                  based on the fair market value of the Company’s common stock on the                  deferral date.  The common stock equivalent units are deemed to                  earn any dividends declared on the Company’s common stock, and additional                  units are allocated on the dividend payment date based on the stock’s fair                  market value. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Represents                  the weighted-average exercise price of options granted under the                  2007                  LTCP, the 2004 LTIP, the 1997 LTIP, and the Directors’ Compensation                  Plan.  It does not include the per share price of common stock                  equivalent units held in deferred compensation accounts for the                  benefit of                  nonemployee directors.  These units are allocated to accounts                  based on the fair market value of the Company’s common stock on the date                  of each account transaction. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (3) | Under                  the 2007 LTCP, the Company is authorized to make awards with respect                  to a                  maximum of 3,200,000 of its common shares.  The 2007 LTCP                  provides for the award of options, stock appreciation rights, restricted                  stock and restricted stock units that represent common shares,                  as well as                  other stock-based awards that the Compensation and Human Resources                  Committee of the Company’s Board of Directors deems consistent with the                  plan’s purposes.  Of the total shares authorized, the Company                  can make awards with respect to a maximum of 2,400,000 shares in                  a form of                  full-value awards, i.e., awards other than in the form of stock                  options or                  stock appreciations rights and which are settled in stock.  A                  maximum of 1,000,000 shares may be issued upon exercise of incentive                  stock                  options awarded under the 2007 LTCP.  At December 31, 2007, the                  Company could make future awards under the 2007 LTCP with respect                  to                  2,560,875 shares of its common stock, of which 1,946,325 can be                  under                  full-value awards.  No incentive stock options had been awarded                  under the 2007 LTCP as of December 31, 2007.  This total has                  been reduced by the maximum number of shares that could be issued                  with                  respect to performance-based awards under the 2007 LTCP for which                  the                  performance measurement period was not completed by December 31,                  2007. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Under                  the Directors’ Compensation Plan as originally implemented, the Company is                  authorized to make awards of stock options or common stock and                  allocations                  of common stock equivalent units with respect to the lesser of                  either                  1,687,500 common shares or 3% of its issued and outstanding common                  shares,                  as determined from time to time.  The Board of Directors                  subsequently amended the plan to reduce the authorized shares to                  no more                  than 937,500.  At December 31, 2007, the Company could make                  future awards or allocations of common stock equivalent units under                  the                  plan with respect to 380,141 shares of its common                  stock. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item          13: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR**
**INDEPENDENCE**

| ·   | The                section entitled “Transactions with Related                Persons.” |
|--------------------|-----------------------------------------------------------------------------------------------------|
| ·   | The                  first paragraph of the subsection entitled “Board of Directors” in the                  section entitled “Board of Directors and Its                  Committees.” |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                  first paragraph of the subsection entitled “Nominating and Corporate                  Governance Committee” in the section entitled “Board of Directors and Its                  Committees.” |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                  first paragraph of the subsection entitled “Audit Committee” in the                  section entitled “Board of Directors and Its                  Committees.” |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                  first paragraph of the subsection entitled “Role of the Compensation and                  Human Resources Committee” in the section entitled “Compensation                  Discussion and Analysis.” |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item        14: PRINCIPAL ACCOUNTING FEES AND SERVICES**

----

**PART        IV**

**Item        15: EXHIBITS AND FINANCIAL STATEMENT SCHEDULES**

|   | (a)(1) | The                  following consolidated financial statements and supplementary data                  of the                  Company and its subsidiaries are included in Part II Item 8 of                  this Form                  10-K: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                     |  Page                  Number |
|----------------------------------------------------------------------------------------------------------|------------------------------------|
|                                                                                                     |                               |
|  Summary                of Quarterly Financial Information                                     |  42                           |
|                                                                                                     |                               |
|  Report                of Independent Registered Public Accounting Firm                             |  44                           |
|                                                                                                     |                               |
|  Consolidated                Balance Sheets --                                                      |                               |
|      December                31,                2007 and 2006    |  45                           |
|                                                                                                     |                               |
|  Consolidated                Statements of Income --                                                |                               |
|      Years                Ended December 31, 2007, 2006 and 2005                |  46                           |
|                                                                                                     |                               |
|  Consolidated                Statements of Changes in Shareholders’ Equity --                 |                               |
|      Years                Ended December 31, 2007, 2006 and 2005           |  47                           |
|                                                                                                     |                               |
|  Consolidated                Statements of Cash Flows --                                            |                               |
|      Years                Ended December 31, 2007, 2006 and 2005                |  48                           |
|                                                                                                     |                               |
|  Notes                to Consolidated Financial Statements                                          |  49                           |

|   | (a)(2) | All                  schedules have been omitted because they are either not applicable                  or the                  required information has been included in the consolidated financial                  statements or notes to the consolidated financial                  statements. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**To        obtain a copy of any listed exhibit send your request to the address        below.  The copy will be furnished upon payment of a        fee.**

**Mrs.        Shirley Fremin, Manager**

**Shareholder        Services**

**Whitney        Holding Corporation**

**P.        O. Box 61260**

**New        Orleans, LA  70161-1260**

**(504)        586-3627 or toll free (800) 347-7272, ext. 3627**

**E-mail:        investor.relations@whitneybank.com**

|   | Exhibit                  3.1 - Copy of the Company’s Composite Charter (filed as Exhibit 3.1 to                  the Company’s quarterly report on Form 10-Q for the quarter ended                  September 30, 2000 (Commission file number 0-1026) and incorporated                  by                  reference). |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  3.2 - Copy of the Company’s Bylaws (filed as Exhibit 3.01 to the                  Company’s current report on Form 8-K filed on October 2, 2006 (Commission                  file number 0-1026) and incorporated by                  reference). |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | Exhibit                  10.1 *- Form of Amended and Restated Executive Agreement between                  Whitney Holding Corporation, Whitney National Bank and certain                  executive                  officers. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.2 *- Form of Amended and Restated Officer Agreement between                  Whitney                  Holding Corporation, Whitney National Bank and an executive                  officer. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.3*****- Whitney Holding Corporation 1997 Long-Term                  Incentive Plan (filed as Exhibit A to the Company’s Proxy Statement dated                  March 18, 1997 (Commission file number 0-1026) and incorporated                  by                  reference). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.4*****- Whitney Holding Corporation 2004 Long-Term                  Incentive Plan (filed as Exhibit B to the Company’s Proxy Statement for                  the Annual Meeting of Shareholders dated March 19, 2004 (Commission                  file                  number 0-1026) and incorporated by                  reference). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.5*****- Whitney Holding Corporation 2007 Long-Term                  Compensation Plan (filed as Exhibit A of the Definitive Additional                  Materials to the Company’s Definitive Proxy Statement on Schedule 14A                  dated March 29, 2007 (Commission file number 0-1026) and incorporated                  by                  reference). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.6*****- Amendment to the Whitney Holding Corporation                  2007 Long-Term Compensation Plan effective as of December 1,                  2007. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.7*****- Form of notice and acceptance of award                  of                  performance-based restricted stock to certain of the Company’s                  non-director executive officers under the Company’s 2004 Long-Term                  Incentive Plan (filed on June 17, 2005 as Exhibit 99.1 to the Company’s                  current report on Form 8-K (Commission file number 0-1026) and                  incorporated by reference). |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.8*****- Form of notice and acceptance of award                  of                  performance-based restricted stock to certain of the Company’s director                  executive officers under the Company’s 2004 Long-Term Incentive Plan                  (filed on June 17, 2005 as Exhibit 99.2 to the Company’s current report on                  Form 8-K (Commission file number 0-1026) and incorporated by                  reference). |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.9*****- Form of performance-based restricted stock                  unit agreement for executive officers under the Company’s 2004 Long-Term                  Incentive Plan (filed on July 6, 2006 as Exhibit 99.1 to the Company’s                  current report on Form 8-K (Commission file number 0-1026) and                  incorporated by reference). |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.10*****- Form of performance-based restricted stock                  unit agreement for executive officers under the Company’s 2007 Long-Term                  Compensation Plan. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.11*****- Form of stock option agreement between                  Whitney Holding Corporation and certain of its officers (filed                  as Exhibit                  10.9b to the Company’s annual report of Form 10-K for the year ended                  December 31, 2001 (Commission file number 0-1026) and incorporated                  by                  reference). |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.12*****- Form of notice and acceptance of stock                  option                  grant to certain of the Company’s officers under the Company’s 2004                  Long-Term Incentive Plan (filed on June 17, 2005 as Exhibit 99.3                  to the                  Company’s current report of Form 8-K (Commission file number 0-1026) and                  incorporated by reference). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit                  10.13*****- Form of notice and acceptance of stock                  option                  grant under the Company’s 2004 Long-Term Incentive Plan (filed on July 6,                  2006 as Exhibit 99.2 to the Company’s current report of Form 8-K                  (Commission file number 0-1026) and incorporated by                  reference). |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | Exhibit                  10.14 *****- Form of notice and acceptance of stock                  option grant under the Company’s 2007                          |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Long-Term                  Compensation Plan.                                                                                                                           |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.15 *- Whitney Holding Corporation Directors’ Compensation Plan                  (filed as Exhibit A                                   |
|   | to                  the Company’s Proxy Statement dated March 24, 1994 (Commission                  file                                                          |
|   |  number                  0-1026) and incorporated by reference).                                                                                                   |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.16 *- Amendment No. 1 to the Whitney Holding Corporation Directors’                  Compensation                                     |
|   | Plan                  (filed as Exhibit A to the Company’s Proxy Statement dated March 15, 1996                  (Commission file                                 |
|   | number                  0-1026) and incorporated by reference).                                                                                                         |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.17 *- Whitney Holding Corporation 2001 Directors’ Compensation Plan                  as amended and                                   |
|   | restated                  effective as of January 1, 2008.                                                                                                              |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.18 *- Whitney Holding Corporation Retirement Restoration Plan                  as                  amended and restated                     |
|   | effective                  January 1, 2008.                                                                                                                             |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.19 *- Whitney Holding Corporation Executive Incentive Compensation                  Plan as amended                                         |
|   | and                  restated effective as of January 1, 2008.                                                                                                          |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.20 *- Whitney Holding Corporation Deferred Compensation Plan                  as                  amended and                               |
|   | restated                  effective as of January 1, 2008.                                                                                                              |
|   |                                                                                                                                                                    |
|   | Exhibit                  10.21 *- Summary of performance measurements to be used under the                  Company’s Executive                                   |
|   | Compensation                  Plan to determine bonus awards to the Company’s executive officers for                  fiscal year                                 |
|   | 2007                  and the maximum bonus opportunities that can be earned by executive                  officers for fiscal year                                     |
|   | 2007                  (filed on December 21, 2006 under Item 5.02 of the Company’s current                  report on Form 8-K/A                                  |
|   | (Commission                  file number 0-1026) and incorporated by reference).                                                                                        |
|   |                                                                                                                                                                    |
|   | Exhibit                  12 - Statement regarding computation of earnings to fixed                  charges                                                             |
|   |                                                                                                                                                                    |
|   | Exhibit                  21 - Subsidiaries                                                                                                                              |
|   |                                                                                                                                                                    |
|   |     Whitney                  Holding Corporation owns 100% of Whitney National Bank, a national                  banking                            |
|   | association                  organized under the laws of the United States of America.  All                  other subsidiaries                               |
|   | considered                  in the aggregate would not constitute a significant                  subsidiary.                                                            |
|   |                                                                                                                                                                    |
|   | Exhibit                  23 - Consent of PricewaterhouseCoopers LLP dated February 29,                  2008.                                                           |
|   |                                                                                                                                                                    |
|   | Exhibit                  31.1 - Certification of the Company’s Chief Executive Officer pursuant                  to Rule 13a-14(a) or                             |
|   | Rule                  15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley                  Act of                  2002.                                |
|   |                                                                                                                                                                    |
|   | Exhibit                  31.2 - Certification of the Company’s Chief Financial Officer pursuant                  to Rule 13a-14(a) or                             |
|   | Rule                  15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley                  Act of                  2002.                                |
|   |                                                                                                                                                                    |
|   | Exhibit                  32 - Certification by the Company’s Chief Executive Officer and Chief                  Financial Officer                                 |
|   | pursuant                  to 18 U.S.C Section 1350, as adopted pursuant to Section 906 of                  the                  Sarbanes-Oxley Act of                   |
|   | 2002                                                                                                                                                                    |
|   |                                                                                                                                                                    |
| *      | Management                  contract or compensatory plan or arrangement.                                                                                               |
| **     | Pursuant                  to Item 601(b)(4)(iii) of Regulation S-K, copies of instruments                  defining                  the rights of certain              |
|   | holders                  of long-term debt are not filed.  The Company will furnish                  copies thereof to the SEC upon                  request. |

----

**SIGNATURES**

| **Signature                                                                                    ** | **Title                                                                                   ** | **Date                                                      ** |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
| /s/                  William L. Marks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Chairman                  of the Board,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | February                  29, 2008                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | William                  L. Marks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Chief                  Executive Officer and Director                                                                                                                                                                                                                                                                                        |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|  /s/                John C. Hope III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | President                and Chief Operating Officer                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  February                29, 2008                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  John                C. Hope III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | and                Director                                                                                                                                                                                                                                                                                                                  |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
| /s/                  R. King Milling                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Vice                  Chairman of the Board and Director                                                                                                                                                                                                                                                                                                                                                                                                                                                |  February                    29, 2008                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | R.                  King Milling                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
| /s/                  Thomas L. Callicutt, Jr.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Executive                  Vice President and                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  February                    29, 2008                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Thomas                  L. Callicutt, Jr.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Chief                  Financial Officer                                                                                                                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Principal                  Accounting Officer)                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
| /s/                  Joel B. Bullard, Jr.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  February                    29, 2008                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Joel                  B. Bullard, Jr.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                         |   |
| /s/                  Angus R. Cooper II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  February                    29, 2008                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Angus                  R. Cooper II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                         |   |

----

| **Signature                                                                                         ** | **Title                                                                                      ** | **Date                                                     ** |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|  /s/                  Richard B. Crowell                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | February                  29, 2008                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Richard                  B. Crowell                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                    William A. Hines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                    29, 2008                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | William                    A. Hines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                    Alfred S. Lippman                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                    29, 2008                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Alfred                    S. Lippman                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                    Michael L. Lomax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                    29, 2008                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Michael                    L. Lomax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                    Eric J. Nickelsen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                    29, 2008                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Eric                    J. Nickelsen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                  John G. Phillips                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                  29, 2008                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | John                    G. Phillips                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                    Kathryn M. Sullivan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                    29, 2008                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Kathryn                    M. Sullivan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |
|  /s/                  Dean E. Taylor                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                  29, 2008                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Dean                    E. Taylor                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                   |   |
| /s/                    Thomas D. Westfeldt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  February                    29, 2008                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Thomas                    D. Westfeldt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                   |   |

|  89 |
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|     |