GULFPORT, Miss., Nov. 13, 2007 (PRIME NEWSWIRE) -- Hancock Holding Company (Nasdaq:HBHC) today announced the completion of its 2000 Stock Repurchase Plan, previously approved by the board of directors to repurchase up to 10% of the company's outstanding common stock. The company has repurchased 541,285 shares during the fourth quarter this year and 1,527,204 shares year-to-date.
Furthermore, at its November meeting the board of directors approved the 2007 Stock Repurchase Plan, authorizing the repurchase of an additional 3,000,000 shares or approximately 10% of the company's outstanding common stock. Subject to market conditions, repurchases will be conducted solely through a Rule 10b5-1 repurchase plan. Shares purchased under this program will be held in treasury and used for general corporate purposes as determined by Hancock's board of directors.
Hancock Holding Company -- parent company of Hancock Bank of Alabama, Hancock Bank Mississippi, Hancock Bank of Florida, and Hancock Bank of Louisiana -- has assets of more than $5.9 billion. Bank subsidiaries include Hancock Investment Services, Inc., Hancock Insurance Agency, and Harrison Finance Company. Founded October 10, 1899, Hancock Bank is the only financial services company headquartered in the Gulf South to rate among the top 20 percent of America's top performing banks. Hancock consistently ranks as one of the country's strongest, safest financial institutions, according to Veribanc, Inc., and BauerFinancial Services, Inc. Thomson Financial also recently listed Hancock as the ninth largest corporate trustee bank in the U.S. More corporate information and online banking are available at www.hancockbank.com.
Investors can access additional corporate information or on-line banking and bill pay services at www.hancockbank.com.
The Hancock Holding Company logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2758
"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.