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BANKING & FINANCE

From Times Staff and Wire Reports

Hibernia Reports Loss, Seeks Merger Partner: Hibernia Corp., Louisiana’s largest banking company, reported a $33.2-million second-quarter loss and said it is seeking a merger partner. Hibernia, once an industry star, also said its chairman, Martin C. Miler, had retired and will be replaced by Sidney W. Lassen, chairman of Hibernia’s executive committee. Hibernia said it is seeking outside investors, a merger partner or both to obtain funds to meet federal capital requirements. The company earned $17 million in the year-ago period.


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