FOR IMMEDIATE RELEASE
June 16, 2010
PANAMA CITY, Fla. (June 16, 2010) – This week, as Hancock Bank completes the systems conversion needed to finalize a merger with Peoples First Community Bank, local Hancock leaders announced plans to purchase the former Peoples First headquarters on West 23rd Street from the FDIC for an undisclosed price.
Hancock will designate the 90,000 square-foot tower as "Hancock Center," the Panama City headquarters for the 111-year-old company. Today's announcement follows Hancock's decision last month to move banking services and branch employees from the nearby four-story One Stanford Centre to the first floor of the eight-story landmark overlooking one of the city's busiest commercial thoroughfares and to reopen a drive-through facility at 3123 West 23rd Street.
"We continue to reinforce our commitment to Panama City and Bay County with a substantial investment in buying and refurbishing the former Peoples First tower as Hancock's local headquarters and as premium commercial space for other tenants. Hancock will honor existing leases, and we look forward to welcoming new businesses as our neighbors in Hancock Center," said David Powell, a senior business banker and Hancock Bank's Panama City market president.
Freeman Electric Co., Inc., of Panama City began installing Hancock Bank signs on the building today.
Hancock Center first opened in May 2000 as the corporate office for Peoples First Community Bank. On December 18, 2010, Hancock Bank acquired Peoples First from the FDIC through a loss-share agreement that expanded Hancock's existing Florida footprint with 29 additional branches. Today, with the merger, Hancock operates more than 180 Gulf South banking and financial services offices - including 35 branches along a Florida corridor spanning Pensacola to Orlando - and more than 160 ATMs in Florida, Alabama, Mississippi, and Louisiana.
Founded October 9, 1899, Hancock Bank has rated as one of America's strongest, safest banks for more than 20 consecutive years. Hancock Holding Company (NASDAQ: HBHC), parent company of Hancock Bank, has assets of approximately $8.6 billion. Additional corporate information and e-banking are available at www.hancockbank.com.
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R. Paul Maxwell, VP & Corporate Communications Manager
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