Hancock Announces Sale of 10 Whitney Bank Branches Previously Slated for
GULFPORT, Miss., July 22, 2013 (GLOBE NEWSWIRE) -- Hancock Holding Company
(Nasdaq:HBHC) announced today it has signed purchase agreements with buyers to
acquire 10 of 40 branch locations the Company previously announced were
scheduled for closure on August 30, 2013 or by year-end 2013.
"We have been honored to help create commerce and opportunities in the
communities we serve," said Hancock Holding Company President and Chief
Executive Officer Carl J. Chaney. "Through the transactions announced today,
we are able to continue that local commitment by keeping both jobs and
business opportunities in these markets."
Chaney said decisions to relocate, close, buy, or sell branches are common
business strategies used by banks to sustain strength, enhance service, and
align growth with changes in demographics, customer habits, and industry
Hancock has agreed to sell three retail branch locations in the greater
Alexandria (Louisiana) market to Sabine State Bank in Many, La. As part of the
branch acquisition, Sabine expects to acquire approximately $20 million in
loans and to assume approximately $30 million in deposits. The branch
locations to be sold are
203 Ansley Blvd., Alexandria, La.
4716 Jackson St., Alexandria, La.
2704 Hwy 28 E., Pineville, La.
Hancock has agreed to sell seven retail branch locations in the greater
Houston (Texas) market to Texas Dow Employees Credit Union ("TDECU") in Lake
Jackson, Texas. As part of the branch acquisition, TDECU expects to acquire
approximately $34 million in loans and to assume approximately $30 million in
deposits. The branch locations to be sold are
3800 SW Fwy. Ste. 100, Houston, Texas
6348 Woodway, Houston, Texas
5102 Richmond Ave., Houston, Texas
24250 Cinco Ranch Blvd., Katy, Texas
9915 Broadway, Pearland, Texas
24706 SW Fwy., Rosenberg, Texas
2109 State Hwy 6, Sugar Land, Texas
The branch sales, which are subject to regulatory approvals and certain
closing conditions, are expected to be completed by year-end 2013 and will be
reflected in Hancock's fourth quarter 2013 financial results.
Morgan Stanley acted as financial advisor to Hancock Holding Company.Jones
Walker, LLP acted as its legal advisor.
About Hancock Holding Company
Hancock Holding Company, the parent company of Hancock Bank and Whitney Bank,
operates branches and ATMs across Mississippi, Louisiana, Alabama, Florida,
The Hancock Holding Company family of financial services companies also
includes Hancock Investment Services, Inc.; Hancock Insurance Agency and
Whitney Insurance Agency, Inc.; corporate trust offices in Gulfport and
Jackson, Miss., New Orleans and Baton Rouge, La., and Orlando, Fla.; and
Harrison Finance Company.
Additional information is available at www.hancockbank.com and
This news release contains "forward-looking statements" within the meaning of
section 27A of the Securities Act of 1933, as amended, and section 21E of the
Securities Exchange Act of 1934, as amended, and we intend such
forward-looking statements to be covered by the safe harbor provisions therein
and are including this statement for purposes of invoking these safe-harbor
provisions.Forward-looking statements provide projections of results of
operations or of financial condition or state other forward-looking
information, such as expectations about future conditions and descriptions of
plans and strategies for the future.
Hancock's ability to accurately project results or predict the effects of
future plans or strategies is inherently limited.Although Hancock believes
that the expectations reflected in its forward-looking statements are based on
reasonable assumptions, actual results and performance could differ materially
from those set forth in the forward-looking statements.Factors that could
cause actual results to differ from those expressed in Hancock's
forward-looking statements include, but are not limited to, those risk factors
outlined in Hancock's public filings with the Securities and Exchange
Commission, which are available at the SEC's internet site
You are cautioned not to place undue reliance on these forward-looking
statements.Hancock does not intend, and undertakes no obligation, to update
or revise any forward-looking statements, whether as a result of differences
in actual results, changes in assumptions or changes in other factors
affecting such statements, except as required by law.
CONTACT: R. Paul Maxwell
VP, Director Corporate Communications
Trisha Voltz Carlson
SVP, Investor Relations Manager
Press spacebar to pause and continue. Press esc to stop.