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FOR
IMMEDIATE RELEASE
October 11, 2004
Hancock
Bank to acquire Ross-King-Walker, Inc.
 GULFPORT,
MS (October 11, 2004) - Executives at 105-year-old Hancock Bank
and at Ross-King-Walker, Inc, (RKW) - a well-known Hattiesburg
based property and casualty insurance leader - announced jointly
today an agreement which will allow Hancock to acquire RKW as
a division of Hancock Insurance Agency.
Established in 1902, Hancock Insurance Agency is a wholly
owned subsidiary of Hancock Bank, one of America's strongest,
safest financial institutions and the largest financial services
company headquartered in South Mississippi. The Independent
Insurance Agents & Brokers of America (IIABA) recently
named Hancock Insurance Agency a "Best Practices"
agency. RKW, with current revenues of $1.75 million and 23
employees at offices in Hattiesburg, Pascagoula, Meridian,
and Columbia, MS, has provided quality protection for thousands
of Gulf South families and businesses since 1901.
"Ross-King-Walker, Inc., is a well-established, highly
regarded Mississippi firm representing some of the nation's
most successful carriers. We expect this partnership will
enhance the insurance opportunities available to customers
through Hancock Insurance Agency and will facilitate RKW clients'
access to Hancock's comprehensive array of commercial and
consumer financial services," said Hancock Bank President
and Chief Executive Officer George A. Schloegel.
According to the anticipated terms of the agreement, Hancock
will acquire RKW in an all-cash transaction. The post-purchase
entity will retain the RKW name and become an affiliate of
Hancock Insurance Agency. Additionally, RKW plans to maintain
its existing agency team and operational structure. Hancock
and RKW officials said both organizations expect the transaction
to close and become effective early in the fourth quarter
of 2004.
"Hancock
Bank has always been a community partner and financial services
leader in the Gulf South, and we have shared a common commitment
to integrity and service for over a century. We at Ross-King-Walker
are very pleased with the opportunity to join Hancock Insurance
Agency and believe our professional expertise and selection
of providers will complement Hancock's suites of quality products
and services. Our current and future customers will benefit
from our ability to serve them through the strengths of our
combined organizations." said RKW President Charles Leggett,
Jr.
Founded in 1899, Hancock Bank operates 103 full-service offices
and more than 130 automated teller machines throughout South
Mississippi, Louisiana, and the Florida Panhandle. Other bank
subsidiaries include Hancock Investment Services, Inc., Hancock
Mortgage Corporation, Magna Insurance Company, and Harrison
Finance Company. Hancock Holding Company (NASDAQ: HBHC) -
the parent company of Hancock Bank Mississippi, Hancock Bank
of Louisiana, and Hancock Bank of Florida - has assets of
$4.6 billion.
Additional
information about RKW is available at www.rosskingwalker.com.
Readers can access Hancock Bank corporate profiles as well
as online banking and bill pay services at www.hancockbank.com.
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FOR
MORE INFORMATION
Carl J. Chaney, EVP & Chief Financial Officer, Hancock
Bank
228.868.4727 or 1.800.522.6542
Paul
D. Guichet, VP, Investor Relations, Hancock Bank
228.214.5242 or 1.800.522.6542
Charles
Leggett, Jr., President, Ross-King-Walker, Inc.
601.544.3300 or 1.800.844.7594
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