Hancock Holding Company Business Performance and Outlook

Hancock Holding Company has a strong presence in the banking industry, with a long history dating back to 1899. The company's roots in Mississippi have allowed it to build a loyal customer base.

Hancock Holding Company operates under several brand names, including Hancock Bank, Whitney Bank, and Hibernia Bank, among others. These brands have a combined 240 branches across the Gulf South region.

The company's financial performance has been solid, with net income reaching $244.4 million in 2020. This growth can be attributed to Hancock Holding Company's focus on digital banking and its efforts to improve customer experience.

Hancock Holding Company has a diverse portfolio of assets, including loans, investments, and deposits. Its total assets stood at $21.2 billion as of 2020, a significant increase from $14.8 billion in 2015.

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Hancock Holding Company's financial information reveals a strong presence in the banking industry.

The company reported total assets of approximately $44.4 billion as of 2022.

With a market capitalization of around $6.5 billion, Hancock Holding Company is a significant player in the financial sector.

The company's net income for 2022 was around $432 million.

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Hancock Holding Company's estimated annual revenue is a significant $1.3B per year. This staggering figure gives us an idea of the company's financial scale.

The revenue per employee is also noteworthy, standing at $273,518. This is a substantial amount, indicating a high level of productivity within the organization.

To put these numbers into perspective, we can consider the company's overall valuation. However, we don't have specific information on that in this section.

Hancock and its subsidiary depository institutions are well capitalized and would remain so on consummation of the proposal.

The Board reviews the financial condition of organizations involved on both a parent-only and consolidated basis, as well as the financial condition of subsidiary banks and significant nonbanking operations.

The proposed transaction is structured as a share exchange, and based on its review of the record, the Board concludes that Hancock has sufficient financial resources to effect the proposal.

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The Board has considered the managerial resources of the applicant, including the proposed management of the organization, and has reviewed the examination records of Hancock and its subsidiary depository institutions.

Hancock and its subsidiary depository institutions are considered to be well managed, with good risk-management systems and operations.

The Board has considered its supervisory experiences and those of other relevant bank supervisory agencies with the organizations and their records of compliance with applicable banking law, including anti-money-laundering laws.

The Board has also considered Hancock's plans for implementing the proposal, including the proposed management after consummation of the proposal.

In addition, the Board has considered the future prospects of the organizations involved in the proposal in light of financial and managerial resources and the proposed business plan.

The Board concludes that consideration relating to the financial and managerial resources and future prospects of the proposal are consistent with approval.

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Hancock Holding Company has a strong focus on regulatory compliance, which is essential for maintaining a good reputation and avoiding costly fines.

The company's board of directors is responsible for overseeing the company's compliance with regulatory requirements.

Hancock Holding Company is a bank holding company that operates under the Community Reinvestment Act, which requires banks to meet the credit needs of the communities they serve.

The company has a dedicated compliance department that works closely with regulatory agencies to ensure compliance with all relevant laws and regulations.

Hancock Holding Company has received several awards for its commitment to community development and financial inclusion, including the 2019 Community Development Financial Institution (CDFI) Award.

The company's compliance efforts are led by a team of experienced professionals who are well-versed in regulatory requirements and industry best practices.

Hancock Holding Company's organizational structure is designed to support its community banking model. The company operates through its subsidiary, Hancock Bank, which is a full-service bank providing a wide range of financial services to individuals, businesses, and government entities.

The bank's community banking model is built on a network of local branches and banking centers, with over 100 locations across the Gulf Coast region. This extensive network allows Hancock Bank to maintain a strong presence in the communities it serves.

At the top of the organizational structure is the Board of Directors, which oversees the company's overall strategy and direction.

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The company's organizational structure is made up of several key subsidiaries that play a crucial role in its operations.

Hancock Bank of Louisiana is a notable subsidiary, operating out of a prominent location in Gulfport, Mississippi, through its subsidiary Gulfport Building, Inc.

The company's insurance arm is represented by Hancock Insurance Agency and Harrison Life Insurance Company, in which it holds a significant 79% stake.

Hancock Bank Securities Corporation and Harrison Financial Services, Inc. are also part of the company's financial services offerings.

In addition to these, Hancock Mortgage Corporation and Town Properties, Inc. are other subsidiaries that contribute to the company's overall business.

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Hancock Holding Company has a significant workforce, with 4826 employees on their team.

Their employee count has been steadily growing, with a 5% increase last year.

Hancock's subsidiary depository institutions compete directly in nine banking markets, located in Alabama, Florida, Mississippi, and Louisiana.

The Board has carefully reviewed the competitive effects of the proposal in each of these banking markets, considering factors such as the number of competitors that would remain.

In the markets where Hancock and Whitney compete, the relative shares of total deposits in depository institutions controlled by Hancock's insured depository institutions and Whitney National Bank are significant.

The concentration levels of market deposits have been calculated using the Herfindahl-Hirschman Index (HHI) under the Department of Justice Merger Guidelines.

The increase in concentration levels has been measured, and Hancock has made commitments to reduce the potential adverse effects on competition by divesting eight Whitney branches.

Hancock Holding Company has a history of acquisitions, with a notable one being the proposed acquisition of Whitney Holding Corporation.

Hancock is seeking approval from the Board under section 3 of the Bank Holding Company Act to acquire Whitney and indirectly acquire Whitney's subsidiary bank, Whitney National Bank.

The acquisition would make Hancock the 55th largest depository organization in the United States, with total consolidated assets of approximately $20 billion.

In Mississippi, Hancock would remain the third largest depository organization, controlling deposits of approximately $4.7 billion, which represents approximately 10 percent of deposits of insured depository institutions in the state.

In Louisiana, Hancock would become the largest depository organization, controlling deposits of approximately $10.8 billion, which represents approximately 25 percent of deposits of insured depository institutions in the state.

On May 25, 2018, Hancock Holding Company officially changed its name to Hancock Whitney Corporation. This change marked a significant milestone for the company, which had been serving the Gulf South region since the 1800s.

The name change was accompanied by a change in the company's common stock ticker from "HBHC" to "HWC". This change was also effective on May 25, 2018.

Hancock Whitney Corporation's website, signs, mobile app, and online banking had already debuted its new brand earlier in the month. The company was celebrating its 100th anniversary of the first transaction between Hancock and Whitney.

Here's a list of the company's legal entities and their corresponding names and tickers after the name change:

The name change was a significant step forward for the company, which had been growing and evolving over the years.

The Justice Department has agreed to a deal with Whitney Holding Corporation, requiring the company to divest eight branch offices in Louisiana and Mississippi. This deal is part of a larger merger between Hancock Holding Company and Whitney Holding Corporation.

The divested branches will remain operational, providing consumers and small businesses with continued access to banking services. The divestitures will include commercial loans associated with the divested branches.

The divested branches are located in the Biloxi and Gulfport area in Mississippi, and one branch in Washington Parish, Louisiana. The total deposits of the divested branches amount to approximately $202 million.

The Justice Department's Antitrust Division has stated that the divestitures will not have an adverse effect on competition in local markets for retail banking or small business banking services. The department has advised the Federal Reserve Board that it will not challenge the merger provided that the parties divest the branch offices specified in the agreement.

Here are the details of the divested branches:

Hancock Holding Company's acquisition of Whitney Holding Corporation was approved by the Board.

Hancock, the 110th largest depository organization in the US, controls approximately $7 billion in deposits.

With total consolidated assets of approximately $8.2 billion, Hancock operates in four states through three subsidiary banks.

Whitney, on the other hand, is the 82nd largest depository organization in the US, with total consolidated assets of approximately $11.8 billion.

Whitney National Bank, Whitney's only subsidiary depository institution, operates in five states.

After the acquisition, Hancock would become the 55th largest depository organization in the US, with total consolidated assets of approximately $20 billion.

Hancock would control deposits of approximately $16.2 billion, which represent less than 1 percent of the total amounts of deposits of insured depository institutions in the US.

In Mississippi, Hancock would remain the third largest depository organization, controlling deposits of approximately $4.7 billion.

In Louisiana, Hancock would become the largest depository organization, controlling deposits of approximately $10.8 billion.

The acquisition would also give Hancock a significant presence in Alabama, Florida, and Texas.