Hancock Holding Company completes merger with First National Bank of Denham Springs, La.GULFPORT, Miss.--(BUSINESS WIRE)--Jan. 13, 1995--Leo W. Seal, Jr., president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Hancock Holding Company, and Robert E. Easterly, CEO of First National Bank of Denham Springs announce the merger of First National Bank of Denham Springs into the Hancock Holding Company family of banks. At a special stockholders meeting held Jan. 11, 1995, formal approval was authorized by a unanimous vote of Denham Springs shareholders present and voting. Approval of the transaction has been granted by all bank regulatory bodies and is effective as of Jan. 13, 1995. Hancock Bank was founded in 1899 and operates 40 offices along the Mississippi Gulf Coast The Mississippi Gulf Coast refers to the three Mississippi counties which lie on the Gulf of Mexico: Hancock County, Mississippi, Harrison County, Mississippi, and Jackson County, Mississippi. . Hancock moved into Louisiana in 1990 with the purchase of American Bank and Trust Company (AmBank) in Baton Rouge Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , and
further acquired the First State Bank of Baker, La. in April, 1994. The
First National Bank acquisition lifts Hancock Holding Company assets to
over $2 billion, while expanding its presence in Louisiana to 26
full-service locations.
Hancock Holding Company is the largest financial institution in South Mississippi and is listed by Veribanc, Inc. as one of the strongest, safest banks in the United States. Its common stock is listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market System under the symbol HBHC HBHC Healthy Babies Healthy Children (Ontario, Canada) and in the NASDAQ newspaper quotations under the abbreviation abbreviation, in writing, arbitrary shortening of a word, usually by cutting off letters from the end, as in U.S. and Gen. (General). Contraction serves the same purpose but is understood strictly to be the shortening of a word by cutting out letters in the middle, HancHd. First National Bank of Denham Springs, La., established in June, 1964, operates seven banking locations throughout Livingston Parish, La. with assets of $110 million. Livingston Parish is a community of 78,000 residents and one of the fastest growing areas in Louisiana. First National Bank of Denham Springs will remain a separate wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Hancock Holding Company and will maintain its name, its local board of directors, and management team. According to Easterly, "This partnership will provide a broader variety of loans, expanded trust facilities, and more convenient banking services to both its present and prospective customers. The benefits for our shareholders include an excellent return on their investment and the improved liquidity that results from owning a publicly traded stock." Seal noted the merger provides for management decisions to continue to be made locally by First National Bank officers and directors as they have been for the past 30 years and further enhances a partnership of strong, community-based, customer-driven banking services to the people of Livingston Parish. CONTACT: Hancock Holding Company, Gulfport Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. W. Seal, Jr., 601/868-4702 |
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