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FOR
IMMEDIATE RELEASE
February 12, 2007
Hancock
Bank geared up for more grant closings, new era of Coast growth
GULFPORT,
MS (February 12, 2007) - Following Governor Haley Barbour's
recent announcement that Mississippi's Phase I homeowner grant
program hit a 10,000th grant delivery milestone, state and
local leaders hope more Mississippians will soon have the
money to make post-Hurricane Katrina rebuilding decisions.
The anticipated boost to the local economy and collective
Coast spirit has Hancock Bank officers poised and ready to
expedite more grant closings and, ultimately, a regional renaissance.
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| HELPING
PEOPLE ACHIEVE NEW DREAMS
- Jeff Theiler (right), the Hancock Bank
senior vice president managing Hancock's MDA grant closing
process, and Loan-by-Phone Telebanking Sales Manager Kim
Rugh help a grant recipient customer schedule a closing
with one of 30 Hancock lenders at 30 different Coast locations. |
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"Hancock
Bank has been committed to recovery, rebuilding, and renewal
from the moment Katrina crossed the coastline. We have financial
professionals dedicated to following MDA procedures to help
customers receive their grant money as quickly as possible.
We believe this ongoing influx of rebuilding funds will, ultimately,
facilitate commerce and opportunity across the Gulf Coast,"
said Jeff Theiler, the Hancock senior vice president and direct
banking manager who oversees Hancock's grant closing process.
According
to Theiler, when MDA approves a grant for a customer with
a Hancock Bank mortgage, MDA assigns grant closing to Hancock
as the first lien holder and sends a grant award packet to
the applicant. The packet instructs the applicant to contact
Hancock to schedule a grant closing. After meeting with the
customer, a Hancock banker returns the completed closing documents
by FedEx to MDA. After MDA further processes these documents,
and if documents are in order under program guidelines, MDA
issues a grant check payable to the customer and Hancock Bank
as the first lien holder. Finally, upon receipt of the check,
the customer calls Hancock Bank to set up a disbursement appointment.
"Once
MDA issues a grant award packet and the customer contacts
us to schedule a closing, our team kicks into high gear to
guide the customer through closing. We try to make that process
as easy as possible. Recipients assigned to Hancock Bank by
MDA can schedule closings with one of 30 lenders at 30 convenient
Coast branches simply by calling Hancock's Loan-by-Phone at
1-800-965-5626," said Theiler.
Since
the first-of-its-kind comprehensive homeowner grant program
began, MDA has issued 508 grant award packets listing Hancock
Bank as the closing agent. Of those awards, Hancock has scheduled
499 closings totaling $30 million. Hancock has closed 480
grants totaling $28.7 million, enabling MDA to distribute
$24.0 million in grant proceeds to 367 homeowners. Nineteen
scheduled grant closings are pending as applicants and Hancock
bankers sort through circumstances unique to the homeowners.
Hancock receives approximately 10-20 grant closing assignment
notifications from MDA each week and expects that figure to
remain relatively constant through the end of Phase I and
Phase II.
"The
MDA program is an unprecedented effort that must provide for
many different homeowner scenarios. We at Hancock Bank are
pleased to be part of another effort to help folks rebuild
their lives and another testament to South Mississippians
and the commitment of many different agencies and individuals
to rebuilding a brighter Gulf Coast," Theiler said.
Under
the MDA grant program, recipients must agree to covenants
requiring flood insurance, minimum elevations, and adherence
to applicable building codes for rebuilt structures. According
to the governor's office, Phase II - approved by the Department
of Housing and Urban Development in December 2006 - will begin
during first quarter 2007 and targets low to moderate income
families, regardless of insurance or flood zone status.
MDA
assigns grant recipients without mortgages to a third-party
closer.
About
Hancock Bank
Hancock
Holding Company - parent company of Hancock Bank (Mississippi),
Hancock Bank of Louisiana, Hancock Bank of Florida, and Magna
Insurance Company - has assets of $6.0 billion. Founded in
1899, Hancock Bank stands among the strongest, safest financial
institutions in the United States and is the only financial
services company headquartered in the Gulf South to rate among
the top 20 percent of America's top-performing banks. Hancock
offers comprehensive financial solutions through more than
140 banking
and financial services offices and more than 131 automated
teller machines across south Mississippi, Louisiana, south
Alabama, and the Florida Panhandle. Additional corporate
information and on-line
banking and bill
pay services are available at www.hancockbank.com.
FOR
MORE INFORMATION
R. Paul Maxwell, VP & Corporate Communications
Manager
228.563.7953 or paul_maxwell@hancockbank.com
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