Hancock Holding Company announces Florida acquisition

GULFPORT, MS (March 13, 2004) - Hancock Holding Company (NASDAQ: HBHC) announced today that the 104-year-old Gulf South financial services leader will open its doors in Florida's capital city, as Hancock assumes all deposit liabilities of Guaranty National Bank of Tallahassee, FL.

Hancock Holding Company - the parent company of Hancock Bank Mississippi, Hancock Bank of Louisiana, and Hancock Bank of Florida - has assets of $4.3 billion. With the transaction, Hancock acquires approximately $66.9 million in deposits from the Federal Deposit Insurance Corporation (FDIC) for a premium of $13.6 million, or 20 percent of acquired deposits.

The Office of the Comptroller of the Currency closed all locations of Guaranty National Bank of Tallahassee, FL, at 5 p.m. (EST) yesterday, March 12, 2004. All five locations will reopen Monday, March 15, 2004, as new Hancock Bank of Florida branches, introducing Sunshine State customers to Hancock's comprehensive array of financial services.

According to Hancock executives, acquiring a banking franchise in the Florida state capital fits perfectly with Hancock's stated plan for growth throughout residential and commercial hubs bordering the Interstate 10 infrastructure from South Central Louisiana eastward to the Florida Panhandle. Hancock management said the bank's Tallahassee acquisition constitutes another significant phase in Hancock's strategic I-10 corridor expansion, and the all-cash nature of the transaction represents reasonable, logical use of the company's capital.

"As we bring Hancock's traditions of strength, stability, integrity, and service to our Florida neighbors, we look forward to a long, prosperous relationship with the citizens of Tallahassee and the surrounding region," said Hancock Holding Company Chief Executive Office George A. Schloegel.

Forbes ranked Tallahassee among the top 50 Best Places to Live. Home to Florida State University and Florida A&M University, Tallahassee recently earned additional recognition as the second best medium-sized college town in the country based on the city's emphasis on arts, commitment to intellectual growth, and economic growth. The metro area experienced a 33-percent population growth since 1990, with a projected 26-percent additional increase by 2020. With a median household income of $37,382 in 2000, the metropolitan area maintains a relatively low unemployment rate (2.9 percent).

Schloegel said Hancock's senior officers are completing plans to ensure smooth transitions for customers as well as employees at the five Tallahassee locations.

"While we offer customers the comprehensive resources of a large regional financial services company, we also subscribe to a strong community banking philosophy of convenient, personalized service. Retaining local financial services experts with a vested interest in the success of their hometowns has been integral to Hancock's success since 1899," he added.

Founded on October 9, 1899, Hancock Bank ranks among the top 4.6 percent of America's financial institutions for financial strength and stability, according to Veribanc, Inc., and has received a BauerFinancial, Inc., five-star superior rating (the highest rating possible) for the past 36 consecutive quarters. Hancock Bank operates 102 full-service offices and more than 140 automated teller machines in South Mississippi and Louisiana as well as subsidiaries Hancock Investment Services, Inc., Hancock Insurance Agency, Hancock Mortgage Corporation, Magna Insurance Company, and Harrison Finance Company. Additional corporate information and on-line banking and bill pay services are available 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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