GULFPORT, Miss., May 6, 2009 (GLOBE NEWSWIRE) -- Forbes has named Hancock Holding Company (Nasdaq:HBHC), parent company of 110-year-old Hancock Bank, among "The 100 Most Trustworthy Companies" in America.
Underscoring the company's trademark strength, stability, and integrity, Hancock's newest accolade comes just weeks after Bank Director magazine listed Hancock as one of the Top 10 Best Banks in America for the second year in a row and BauerFinancial, Inc. rated Hancock one of the nation's strongest, safest financial institutions for the 78th consecutive quarter.
"We are extremely honored by this latest testament to Hancock's century-old commitment to sound business practices, proactive risk management, and fundamental values. Our associates continue to uphold our founding pledge to provide customers a safe place for their money and facilitate commerce and opportunity across the region," said Hancock Holding Company President and Chief Executive Officer Carl J. Chaney.
"The 100 Most Trustworthy Companies" is a Forbes.com exclusive report. Based on an annual study by Audit Integrity, the leading independent provider of accounting and governance reliability and risk analysis of public companies, the top-100 includes companies that have consistently demonstrated transparent, conservative accounting, solid corporate governance, and responsible leadership. After tracking quarterly 8,500 U.S. companies with a market cap of $200 million-plus, Audit Integrity uses a proprietary Accounting & Governance Risk (AGR) rating system and subdivides the 100 most trustworthy corporations into large-, mid-, and small-cap categories. With a market cap of $1.4 billion as of January 1, 2009, Hancock falls within the mid-cap group.
"Forbes' recognition of Hancock's trustworthiness reaffirms the fundamental business philosophy that has repeatedly prepared Hancock for the best and the most challenging times in America's history. By noting the responsibility and reliability central to our corporate ideology, this distinction reinforces the shareholder and customer confidence that has kept Hancock strong and stable for 110 years," added CEO and Chief Operating Officer John M. Hairston.
Audit Integrity applies additional criteria to select the 100 Most Trustworthy Companies: AGR rating of "conservative" or "average" for the last four quarters; Audit Integrity Financial Condition Rating of "strong" or "average"; AGR Equity Factor of 4 or 5 (the highest ratings), indicating a positive forecast for equity returns; no SEC or shareholder class action litigation for the last four quarters; no amended filings or material reinstatements for the last four quarters; no substantial insider trading compared to peers; and no flagged executive compensation metrics within the AGR analysis.
Hancock Holding Company -- parent company of Hancock Bank Mississippi, Hancock Bank of Louisiana, Hancock Bank of Florida, and Hancock Bank of Alabama -- has assets of approximately $7.2 billion. Founded in 1899, Hancock Bank operates 157 banking and financial services offices and 137 ATMs along a Gulf South I-10 corridor spanning four states. 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 e-banking are available at www.hancockbank.com.
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CONTACT: Hancock Holding Company
R. Paul Maxwell, VP & Corporate Communications Manager
1.800.522.6542
paul_maxwell@hancockbank.com