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FOR
IMMEDIATE RELEASE
August 17, 2006
Hancock
Holding Company to open Wall Street on Katrina anniversary
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GULFPORT,
MS (August 17, 2006) - When executives from Hancock Holding
Company open The NASDAQ Market on August 29, 2006, that
official bell-ringing signals not only a new day at America's
largest electronic stock market but also the dawn of an
unprecedented era of growth and opportunity for storm-ravaged
Gulf Coast communities.
NASDAQ
officials invited Hancock Holding Company, parent company
of 107-year-old Hancock Bank, to open the market on
Hurricane Katrina's one-year anniversary to recognize
the company's leadership in the Gulf Coast's determined
comeback from America's worst natural disaster and Hancock's
exceptional performance in a challenging post-storm
business climate.
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"The
response of Hancock Bank's leadership and employees in the
aftermath of Hurricane Katrina was nothing short of phenomenal,
as many of them were victims, too. When Hancock executives
ring the ceremonial bell to open The NASDAQ Market on August
29, it will be another sign to all the world that Mississippi
had reopened for business," said Mississippi Governor
Haley Barbour.
In
the four months following Katrina, Hancock grew $1.6 billion
- more than in the company's first 95 years - and ranked among
the top 20 percent of America's top-performing banks, according
to the fourth quarter 2005 issue of Bank Director Magazine.
As of August 14, 2006, Hancock Holding Company common stock
(NASDAQ: HBHC) had appreciated 40 percent since January 1,
2006, and 72 percent since Hurricane Katrina.
"We
are very honored that NASDAQ has asked Hancock Holding Company
to open the market exactly one year after Hurricane Katrina.
This is a tribute to our Hancock associates' unwavering commitment
to the communities we serve and the resilient spirit of the
people from those Gulf South hometowns. Their innate resolve
to overcome adversity is lighting the way toward an exciting
future for the Gulf Coast," said Hancock Holding Company
Chief Executive Officer George A. Schloegel.
The
bell-ringing will take place between 8:15 a.m. - 8:30 a.m.
(CDT), the same approximate time one year ago that Katrina's
full fury was decimating many of the Mississippi, Louisiana,
and Alabama communities Hancock serves. The Opening Bell Ceremony
also marks the fifteenth year Hancock Holding Company common
stock has traded on The NASDAQ Market.
Bruce
Aust, Executive Vice President of The NASDAQ Stock Market,
said, "NASDAQ is pleased to have Hancock Holding Company
ring the Opening Bell on the one-year anniversary of Hurricane
Katrina. Hancock is located in the heart of where Katrina
hit and, despite this, has managed to continue its growth
efforts with a successful increase in market capitalization.
We are thrilled to have Hancock join us in opening the market
in recognition of their innovative approach to business and
as one of the companies that are leading the way in the Gulf
Coast's revitalization efforts."
NASDAQ
will air the opening ceremonies live beginning at 8:20 a.m.
(CDT) on the MarketSite Tower, one of the world's largest
stationary video screens, in the heart of New York City's
Times Square and on the NASDAQ MarketSite Live Webcam link.
Webcam viewers should complete downloading by 8:15 a.m. (CDT)
to ensure successful viewing. Before 8:20 a.m., the webcam
will show the MarketSite tower; at 8:20 a.m., the camera switches
to the NASDAQ studio.
Interestingly, Hancock's NASDAQ market-opening occurs on the
same day as the internal debut of a core ideology program
that reiterates the fundamental tenets on which Hancock was
founded: honor and integrity, strength and stability, service,
teamwork, and personal responsibility. According to Hancock's
senior management, the core values program reinforces a century-old
way of doing business that has consistently distinguished
Hancock as one of America's strongest, safest financial services
leaders.
"The
ideals that have been part of Hancock's culture for more than
100 years - and, especially, the associates who practice those
principles daily - are the sources of our success before,
during, and after Katrina. The August 29th NASDAQ bell-ringing
will be a resounding thank-you to our shareholders, customers,
and associates and a reaffirmation of Hancock's commitment
to building a better, brighter Gulf South," said Hancock
Holding Company Chief Financial Officer Carl J. Chaney.
Weathering
the Storm
Instead
of the red glow of a late summer sunrise, a raging whiteout
of wind, rain, and sea spray enveloped Mississippi's Gulf
Coast on August 29, 2005. As the windows of One Hancock Plaza
- Hancock Holding Company's headquarters- bowed from the pounding
pressure of Katrina's relentless gales, Hancock Bank senior
vice president Diane Havard suspected that the storm was no
ordinary hurricane. When projectile debris from collapsed
buildings south of the 15-story landmark began shattering
windows, and white-capped surge inundated the glass and granite
first-floor lobby, Havard knew that Katrina was history in
the making.
Havard
and approximately 22 other Hancock disaster recovery team
associates rode out Katrina in One Hancock Plaza, which dominates
the downtown Gulfport skyline about one-quarter mile inland
from the Gulf of Mexico. For what seemed an eight-hour eternity,
the group dodged flying glass, falling ceiling tiles, and
swirling cyclones of paper.
"Experiencing
the intensity of the storm first-hand was unbelievable. When
we saw the extent of the damage just in Gulfport, we realized
the people we serve would need our help now more than ever,"
said Havard.
Twenty-five
miles east of One Hancock Plaza, Hancock's Ocean Springs branch
operations manager Margaret Migues knew her Jackson County
customers would need cash as soon as possible. As Katrina's
winds and waters subsided, Miques skirted debris and downed
power lines to reach the bank's main Ocean Springs office.
By 10:00 a.m. the next day, Migues was cashing checks from
a folding table outside her damaged branch to help Katrina
survivors. By Wednesday, hundreds of citizens lined up at
the improvised outdoor teller window as Migues and fellow
Hancock bankers worked non-stop.
"We
never thought twice about trying our best to be there when
our customers needed us. It's part of our core values. It's
who we are as a company and as a community," said Migues.
Seventy-five
miles west of Gulfport, in New Orleans, the Katrina story
was just beginning to unfold.
Catalyst
for Renaissance
When
the post-Katrina figures were tallied, 190 Hancock associates
- more than 10 percent of the company's total work force -
had lost their homes and more than 400 employees and their
immediate families suffered significant property damage or
loss. Fifty-nine of 155 Hancock properties in four states
received damages totaling more than $49 million. Twenty-two
of those sites suffered more than 50 percent damage. In South
Mississippi alone, Katrina destroyed approximately 70,000
homes, nearly 2,000 businesses, and more than 600 buildings
on the National Historic Register.
Yet,
less than 24 hours after the hurricane, Havard, Migues, and
hundreds of other Hancock associates - many who had lost everything
in the storm - instinctively tackled the task of recovery.
They rallied with Hancock bankers from less affected areas
to secure bank properties, open makeshift branches, assist
fellow employees, help businesses meet payrolls, waive ATM
and overdraft fees, and serve customers and non-customers
from mobile banking units in devastated coastal cities such
as Bay St. Louis, Waveland, and Pass Christian.
Within
days of Katrina - and 36 years after another infamous hurricane,
Camille, slammed South Mississippi - Hancock launched an array
of "Together We Rebuild" financial initiatives and
associate assistance programs reminiscent of the bank's 1969
post-storm response. Within weeks, many Hancock officers helped
Mississippi's elected officials, business leaders, and world-renowned
architects craft detailed strategies for smart-growth redevelopment.
Hancock
Bank of Louisiana's headquarters at CitiPlace in Baton Rouge,
a back-up call center in Denham Springs, LA, and offices in
Purvis and Tallahassee became key sites in the weeks following
Katrina. Busloads of Hancock employees made 250-mile round
trips daily for several months to keep bank operations running.
"We
had designated teams of Hancock associates that traveled across
the Gulf South each day to make sure our customers received
crucial services, despite destroyed phone lines and utilities.
We are very proud of these folks' hard work, especially when
many of them had suffered major losses in the storm,"
said Hancock Chief Information Officer Shane Loper, who also
directs the company's corporate human resources division.
One
month after Katrina, Hancock became the first financial institution
to reopen in the central downtown Gulfport business district.
Already an SBA Express Lender since 2002, Hancock established
special loan centers, extended hours, and expanded Saturday
banking at strategically located Hancock Bank branches across
South Mississippi. By October 2005, the company unveiled a
massive multi-million-dollar restoration project for One Hancock
Plaza that positioned Hancock as an icon for rebuilding and
renewal.
When
Hancock announced renovation of its headquarters, Blake Wilson,
executive director of the Mississippi Economic Council (the
state's Chamber of Commerce) said, "The Coast has been
and will again be an electromagnet for opportunity. Our state
thanks the people of South Mississippi and Hancock Bank for
their courage and commitment to rebuilding and renewal."
Hancock
plans to celebrate the reopening of One Hancock Plaza in late
October 2006. Key operations units have already relocated
to facilities less vulnerable to high winds and storm-surge.
Additionally, as initiatives to help families and businesses
recover take shape throughout the state and region, and as
an estimated $20-$30 billion flow toward rebuilding the Gulf
Coast, Hancock expects its trademark strength, stability,
integrity, and service to support continued corporate growth
in existing and new markets, including Pensacola, FL..
About
Hancock Holding Company
Hancock
Holding Company - parent company of Hancock Bank (Mississippi),
Hancock Bank of Louisiana, Hancock Bank of Florida, and Magna
Insurance Company - has assets of $6.26 billion. Founded in
1899, Hancock Bank stands among the strongest, safest financial
institutions in the United States, according to the Veribanc,
Inc., and BauerFinancial, Inc., and is the only financial
services company headquartered in the Gulf South to rate among
the top 25 of America's top-performing banks.
Hancock
offers comprehensive financial solutions through more than
140 banking and financial services offices
and more than 130 automated
teller machinesthroughout South Mississippi, Louisiana,
southern Alabama, and the Florida Panhandle, including subsidiaries
Hancock Investment Services, Inc., Hancock Insurance Agency
and its divisions of Ross
King Walker and J. Everett
Eaves, Harrison Finance Company; corporate trust offices
in Gulfport, Jackson, MS, Baton Rouge, and downtown New Orleans;
and a business financial center in Alabama's port city of
Mobile. Additional corporate information and on-line banking
and bill-pay services are available online.
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For
More Information
R. Paul Maxwell
Hancock Holding Company Corporate Communications
228.563.7953 or paul_maxwell@hancockbank.com
Paul
D. Guichet
Hancock Holding Company Investor Relations
228.563.6559 or paul_guichet@hancockbank.com
Stephanie
Lowenthal
NASDAQ Corporate Communications
646.441.5220 or stephanie.lowenthal@nasdaq.com
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