News/Press Releases

FOR IMMEDIATE RELEASE
October 9, 2003

Hancock Holding Company earnings up 6 percent for first nine months of 2003

GULFPORT, MS (October 9, 2003) - Hancock Holding Company (NASDAQ: HBHC) today announced earnings for the nine-month period ended September 30, 2003. Net income for the first nine months of 2003 totaled $39.7 million, compared to $37.3 million for the first nine months of 2002, an increase of $2.4 million, or 6 percent. Diluted earnings per share for the first nine months of 2003 were $2.38, compared to $2.18 for the same period in 2002, resulting in an increase of $.20 per share, or 9 percent.

Net income for the third quarter of 2003 was $13.7 million, an increase of $400,000, or 3 percent, from the $13.3 million reported for the third quarter of 2002. Diluted earnings per share were $0.82 for the third quarter of 2003, compared to $0.78 for the third quarter of 2002, an increase of $.04 per share, or 5 percent.

The company's returns on average assets and average common stockholders' equity for the third quarter of 2003 were 1.31 percent and 13.79 percent, respectively, compared with 1.36 percent and 13.30 percent, respectively, for the third quarter of 2002. Annualized returns on average assets and average common stockholders' equity for the nine months ended September 30, 2003, were 1.29 percent and 13.42 percent, respectively, compared with 1.30 percent and 12.87 percent, respectively, for the nine months ended September 30, 2002.

Net income for the third quarter of 2003 was $1.3 million, or 10 percent, higher as compared to the second quarter of 2003. Third quarter diluted earnings per share were $0.08, or 11 percent, higher than the second quarter. Other key performance trends for the third quarter of 2003 included

· Returns on average assets and average common stockholders' equity were 1.31 percent and 13.79 percent, 11 and 137 basis points higher, respectively, in the third quarter versus the second quarter.

· Net interest margin (te) expanded to 4.54 percent - an increase of 17 basis points from the previous quarter, while the efficiency ratio was improved 219 basis points to 57.90 percent.

· Average loans grew $116 million, or 5 percent, over the previous quarter and improved the loan/deposit ratio to 67 percent for the current quarter compared to 63 percent last quarter; average loans grew $303 million, or 15 percent, compared to the same quarter a year ago.

· Net charge-offs were reduced 12 basis points to .52 percent of average loans, while the non-performing assets ratio fell 14 basis points to .86 percent, both compared to the previous quarter.

· Common stock repurchases totaled 155,735 shares in the third quarter of 2003, bringing the total number of shares repurchased thus far this year to 228,509 shares.

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Commenting on Hancock's operating results for the third quarter of 2003, Hancock Holding Company Chief Executive Officer George A. Schloegel stated, "Hancock is proud to report earnings for the third quarter of 2003, a marked improvement over our second quarter results. All aspects of the company's operations exhibited improvement including asset quality, loan growth and the net interest margin. While all Hancock team members are to be congratulated for their contribution to the company's performance, we all remain poised to meet the challenge of exceeding new expectations for future improvement."

General

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 Generally Accepted Accounting Principles (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 $4.143 billion. Founded in 1899, Hancock Bank stands among the strongest, safest five-star financial institutions in America. Hancock Bank operates 102 full-service offices and more than 143 automated teller machines throughout South Mississippi and Louisiana as well as subsidiaries Hancock Investment Services, Inc., Hancock Insurance Agency, Hancock Mortgage Corporation, and Harrison Finance 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
George A. Schloegel, Chief Executive Officer
Carl J. Chaney, Chief Financial Officer
Paul D. Guichet, V.P., Investor Relations
800.522.6542 or 228.214.5242