Hancock Holding Company Announces Earnings for Second Quarter 2007

Hancock Holding Company Announces Earnings for Second Quarter 2007

Hancock Holding Company (Nasdaq:HBHC) announced earnings for the second quarter ended June 30, 2007. Hancock’s second quarter 2007 earnings were $20.3 million, a decrease of $1.7 million, or 7.6 percent, from the second quarter of 2006. Diluted earnings per share for the second quarter of 2007 were $0.62, a decrease of $0.04 from the same quarter a year ago. Earnings for the second quarter of 2007 were up $1.1 million, or 5.7 percent, from the first quarter of 2007. Diluted earnings per share were up $0.04 from the first quarter of 2007.

In commenting on Hancock’s second quarter 2007 results, Chief Executive Officer Carl J. Chaney stated, “The increase in earnings from the first quarter was a clear sign that the Company was on track toward superior financial performance and that the rebuilding of the region was in full swing.”

For comparative purposes, net income for 2006 was affected by several items related to the impact of Hurricane Katrina, which made landfall in the Company’s operating region on August 29, 2005. In the third quarter of 2006, the Company reversed $20.0 million from the storm-related allowance for loan losses due to better than expected loss experience with storm-impacted credits. In addition, the Company negotiated a final settlement with the primary property and casualty insurance provider and recognized a $5.1 million gain in 2006’s fourth quarter. There were no significant storm-related items in the first and second quarters of 2006 and 2007.

Also commenting on Hancock’s second quarter earnings was Chief Executive Officer John M. Hairston: “The quarter’s results are a clear indication of the Company’s ongoing tradition of strength and stability and building shareholder value.”