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Hancock Reports Fourth Quarter 2012 Financial Results

Hancock's ability to accurately project results or predict the effects of future plans or strategies is inherently limited. Although Hancock believes that the expectations reflected in its forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from those expressed in Hancock's forward-looking statements include, but are not limited to, those risk factors outlined in Hancock's public filings with the Securities and Exchange Commission, which are available at the SEC's internet site ( http://www.sec.gov ).

You are cautioned not to place undue reliance on these forward-looking statements. Hancock does not intend, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of differences in actual results, changes in assumptions or changes in other factors affecting such statements, except as required by law.
 Hancock Holding Company 
 Financial Highlights 
 (amounts in thousands, except per share data and FTE headcount) 
 (unaudited) 
   Three Months Ended   Twelve Months Ended 
  12/31/2012 9/30/2012 12/31/2011 12/31/2012 12/31/2011
Per Common Share Data
           
Earnings per share:          
 Basic $0.55 $0.55 $0.22 $1.77 $1.16
 Diluted $0.54 $0.55 $0.22 $1.75 $1.15
Operating earnings per share: (a)          
Basic $0.54 $0.58 $0.53 $2.15 $2.03
Diluted  $0.54 $0.58 $0.53 $2.13 $2.02
Cash dividends per share  $0.24 $0.24 $0.24 $0.96 $0.96
Book value per share (period-end) $28.91 $28.71 $27.95 $28.91 $27.95
Tangible book value per share (period-end) $19.27 $18.97 $17.76 $19.27 $17.76
Weighted average number of shares:          
 Basic  84,798  84,777  84,696  84,767  65,590
 Diluted  85,777  85,632  85,332  85,588  66,070
Period-end number of shares  84,848  84,782  84,705  84,848  84,705
Market data:          
 High sales price $32.50 $33.27 $33.72 $36.73 $35.68
 Low sales price $29.47 $27.99 $25.38 $27.96 $25.38
 Period end closing price  $31.73 $30.98 $31.97 $31.73 $31.97
 Trading volume  20,910  26,877  41,076  119,519  137,360
           
           
Other Period-end Data
           
FTE headcount  4,235 4,290 4,736  4,235 4,736
Tangible common equity $1,634,833 $1,608,285 $1,504,671 $1,634,833 $1,504,671
Tier I capital $1,666,042 $1,631,372 $1,506,218 $1,666,042 $1,506,218
Goodwill  $628,877 $628,877 $651,162 $628,877 $651,162
Amortizing intangibles $189,409 $197,139 $211,075 $189,409 $211,075
           
Performance Ratios
           
Return on average assets 0.99% 1.00% 0.39% 0.80% 0.52%
Return on average assets (operating) (a) 0.98% 1.07% 0.93% 0.97% 0.90%
Return on average common equity  7.67% 7.77% 3.11% 6.32% 4.26%
Return on average common equity (operating) (a) 7.60% 8.24% 7.39% 7.66% 7.40%
Return on average tangible common equity 11.58% 11.87% 4.75% 9.72% 5.98%
Return on average tangible common equity (operating) (a) 11.48% 12.59% 11.32% 11.78% 10.37%
Tangible common equity ratio  8.77% 9.09% 7.96% 8.77% 7.96%
Earning asset yield (TE) 4.76% 4.84% 4.83% 4.80% 4.82%
Total cost of funds 0.28% 0.30% 0.44% 0.32% 0.57%
Net interest margin (TE) 4.48% 4.54% 4.39% 4.48% 4.25%
Efficiency ratio (b) 60.78% 64.33% 65.39% 64.63% 66.35%
Allowance for loan losses as a percent of period-end loans 1.18% 1.19% 1.12% 1.18% 1.12%
Allowance for loan losses to non-performing loans + accruing loans           
 90 days past due 81.40% 76.72% 101.40% 81.40% 101.40%
Average loan/deposit ratio 76.29% 75.85% 72.80% 74.68% 72.67%
Noninterest income excluding           
 securities transactions as a percent of           
 total revenue (TE) 26.02% 25.86% 25.05% 25.88% 27.91%

(a) Excludes tax-effected merger related expenses, debt early redemption costs and securities transactions. Management believes that this is a useful financial measure because it enables investors to assess ongoing operations.

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