GULFPORT, Miss., Nov. 12, 2008 (GLOBE NEWSWIRE) -- As Americans seek safe financial harbor in an uncertain economic climate, 109-year-old Hancock Bank has again ranked among the nation's strongest, safest financial institutions.
For the 76th consecutive quarter, BauerFinancial, Inc. -- the country's leading independent bank research and analysis firm -- has rated Hancock Bank as one of the most financially sound U.S. banks, placing Hancock in the top 26 percent of 8,500 rated institutions. Hancock executives cite strong capital, historically conservative management, and longstanding commitment to helping customers achieve financial security as qualities that have earned Hancock consistent endorsement from BauerFinancial for almost 20 years.
"Our Hancock Bank teams continue to uphold the founding ideals that have underwritten our efforts to facilitate commerce and opportunities for people since 1899. We are dedicated to helping our hometowns prosper. However, we also recognize our inherent obligation to manage the company in the best interest of our shareholders and customers and to offer customers clear financial guidance in managing their own assets. That's why we have always maintained strong capital and avoid risky business practices," said Hancock Holding Company Chief Executive Officer Carl J. Chaney.
Hancock Holding Company (Nasdaq:HBHC) is the parent company of Hancock Bank Mississippi, Hancock Bank of Louisiana, Hancock Bank of Florida, and Hancock Bank of Alabama.
BauerFinancial's rating system is proprietary; but the criteria mirror the CAMELS system that federal regulators use to assess a bank's financial stability, including capitalization. According to the American Bankers Association, 98 percent of America's banks are well-capitalized. Banks must maintain significant capital and reserves (corporate "rainy-day funds") as first-line defense against losses during economic downturns. A sophisticated industry-wide system of risk management checks and balances and FDIC insurance reinforce that protection and peace of mind. Company leaders also believe that a century of financial success gives Hancock survivor insights to help ensure solvency and liquidity in a challenging economy.
Hancock Holding Company has assets of approximately $6.74 billion. Hancock Bank, an FDIC insured institution, operates 164 banking and financial services offices and 136 ATMs along an I-10 corridor market spanning Mississippi, Louisiana, Alabama, and Florida. Bank subsidiaries include Hancock Investment Services, Inc., Hancock Insurance Agency and its divisions of Ross King Walker and J. Everett Eaves, and Harrison Finance Company. Additional corporate information and online banking are available at www.hancockbank.com.
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