News/Press Releases

FOR IMMEDIATE RELEASE
January 15, 2004

Hancock Holding Company reports 2003 earnings - up 8 percent

GULFPORT, MS (January 15, 2004) - Hancock Holding Company (NASDAQ: HBHC) today announced earnings for the year ended December 31, 2003. Net income for 2003 totaled $55.0 million, compared to $51.0 million reported for 2002, an increase of $4 million, or 8 percent. Diluted earnings per share for 2003 were $3.29, compared to $3.00 for 2002, resulting in an increase of $0.29 per share, or 10 percent.

Net income for the fourth quarter of 2003 was $15.2 million, an increase of $1.4 million, or 10 percent, from the $13.8 million reported for the fourth quarter of 2002. Diluted earnings per share were $0.91 for the fourth quarter of 2003, compared to $0.82 for the fourth quarter of 2002, an increase of $0.09 per share, or 11 percent.

The Company's returns on average assets and average common stockholders' equity for the fourth quarter of 2003 were 1.47 percent and 15.21 percent, respectively, compared with 1.39 percent and 13.87 percent, respectively, for the fourth quarter of 2002. Annualized returns on average assets and average common stockholders' equity for the year ended December 31, 2003 were 1.34 percent and 13.88 percent, respectively, compared with 1.32 percent and 13.13 percent, respectively, for the year ended December 31, 2002.

In commenting on Hancock's operating results for the fourth quarter of 2003, George A. Schloegel, Chief Executive Officer, stated, "Hancock is pleased to report increased earnings for both the fourth quarter as well as for all of 2003. These results are a testament to the hard work and dedication of all team members. However, we all remain focused on the challenges that the coming year presents and are fully committed to achieving our 2004 goals."

Hancock Holding Company subscribes to the highest standards of corporate responsibility with respect to legal, moral, and regulatory relationships with shareholders, customers, employees, and communities Hancock serves. Accordingly, these unwavering business principles support a corporate culture of ethical compliance and accountability that ensures that financial statements are prepared and audited in accordance with accounting principles generally accepted in the United States of America (GAAP). The Company's systems of internal controls and risk management processes are in place and fully functional.

Hancock Holding Company - parent company of Hancock Bank (Mississippi) and Hancock Bank of Louisiana - has assets of $4.150 billion. Founded in 1899, Hancock Bank stands among the strongest, safest five-star financial institutions in America. Hancock Bank operates 101 full-service offices and more than 140 automated teller machines throughout South Mississippi and Louisiana as well as subsidiaries Hancock Investment Services, Inc., Hancock Insurance Agency, Hancock Mortgage Corporation, Harrison Finance Company, and Magna Insurance Company. Investors can access additional corporate information or online banking and bill pay services at www.hancockbank.com.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Congress passed the Private Securities Litigation Act of 1995 in an effort to encourage corporations to provide information about companies' anticipated future financial performance. This act provides a safe harbor for such disclosure, which protects the companies from unwarranted litigation if actual results are different from management expectations. This release contains forward-looking statements and reflects management's current views and estimates of future economic circumstances, industry conditions, company performance, and financial results. These forward-looking statements are subject to a number of factors and uncertainties which could cause the company's actual results and experience to differ from the anticipated results and expectations expressed in such forward-looking statements.

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FOR MORE INFORMATION

R. Paul Maxwell, Corporate Communications Manager
800.522.6542 (ext. 5252) or 228.214.5252
paul_maxwell@hancockbank.com