Hancock Holding Company reports first quarter 1996 results.GULFPORT, Miss.--(BUSINESS WIRE)--April 11, 1996--Hancock Holding Company (NASDAQ/NMS:HBHC HBHC Healthy Babies Healthy Children (Ontario, Canada) ) today announced results for the quarter ending March 31, 1996. Net income for the quarter was $7.8 million compared to $6.8 million for the same period in 1995. Earnings per share amounted to $0.87 in 1996 and $0.76 in 1995 on 8.9 million average shares outstanding. 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., President and Chief Executive Officer, commenting on the results said, "The improved earnings for the first quarter, over last year's, has been aided by a stable business and economic environment in our market areas, an increase in loan portfolio balances, higher over-all service charge income, as well as holding the line on non-interest expenses. We continue to work toward further consolidation of functions within our operations and better customer service, including improved products and services. These efforts should benefit our customers, shareholders and staff." Hancock Holding Company, headquartered in Gulfport, Mississippi Gulfport is the second largest city in Mississippi after the state capital Jackson. It is the larger (population wise) of two principal cities of the Gulfport-Biloxi, Mississippi Metropolitan Statistical Area, which is included in the Gulfport-Biloxi-Pascagoula, Mississippi , is the parent company of Hancock Bank in Gulfport, Mississippi, Hancock Bank of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. in Baton Rouge, Louisiana For the Canadian restaurant, see . Baton Rouge (from the French bâton rouge), pronounced /ˈbætn ˈɹuːʒ/ in English, and , and First National Bank of Denham Springs, Denham Springs, Louisiana Denham Springs is a city in Livingston Parish, Louisiana, United States. The population was 10,206 at a 2005 population estimate. Geography Denham Springs is located at (30.479739, -90.954105)GR1. . Through its banks in Mississippi and Louisiana, the company operates 71 full service offices and 102 automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. . Bank-related affiliates include Hancock Mortgage Corporation and Harrison Finance Company. Hancock Holding Company's 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 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. -0-
Hancock Holding Company
Financial Highlights
(Amounts in thousands, except per share data)
Three Months Ended
March 31,
1996 1995
Interest income $ 42,320 $ 38,286
Interest expense 16,152 14,181
Net interest income 26,168 24,105
Provision for loan losses 1,104 175
Net interest income after
provision for loan losses 25,164 23,930
Non-interest income 6,126 5,614
Non-interest expense 19,667 19,422
Income before income taxes 11,623 10,122
Income taxes 3,855 3,342
Net income $ 7,768 $ 6,780
Net income per share $0.87 $0.76 Dividends declared per share $0.25 $0.23 Weighted average shares outstanding 8,880 8,879 Return on assets 1.36% 1.26%
March 31, March 31, December 31,
1996 1995 1995
Total assets $2,322,012 $2,201,884 $2,234,286
Cash and due from banks 141,360 117,639 124,276
Investment securities 924,699 875,123 848,305
Net loans 1,045,810 978,164 1,017,586
Total deposits 2,055,428 1,926,591 1,927,681
Stockholders' equity 229,285 210,582 224,179
CONTACT: Hancock Holding Company, Gulfport Leo W. Seal, Jr. or Stan STAN Stanchion STAN Stärke- und Ausrüstungsnachweis (German) Stan Standard Man (human patient simulator) STAN SEMCIP Technical Assistance Network STAN System Trace Audit Number STAN Star Trek Area Network Bailey, 601/868-4727 |
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