GULFPORT, Miss., June 1, 2009 (GLOBE NEWSWIRE) -- Hancock Holding Company (Nasdaq:HBHC) announced today that veteran Gulf South banker Sam B. Kendricks will serve as Chief Credit Policy Officer for the 110-year-old financial services leader.
With this appointment, Kendricks begins his new executive responsibilities as former Chief Credit Officer Alfred Rath transitions to become Hancock's Chief Risk Officer. Mississippi native Kendricks, who joined Hancock Bank in 2001, previously served as a senior vice president and senior regional credit officer for the Mississippi franchise of Hancock's multi-state business footprint.
"We were very fortunate to have a strong roster of outstanding internal candidates who have all been integral to Hancock's success. We are very pleased that one of those current Hancock associates, Sam Kendricks, will be our new Chief Credit Policy Officer. We expect his 28 years of industry expertise, his active community service, and his demonstrated commitment to Hancock's conservative, community oriented business philosophy will benefit the entire Hancock organization and the markets that Hancock serves," said Hancock Holding President and CEO Carl J. Chaney.
An alumnus of Clarksdale High School, Kendricks holds a bachelor of business administration degree from The University of Mississippi. He is also a graduate of the prestigious Graduate School of Banking at Louisiana State University and was recognized as one of "Top 40 under 40" Mississippi business leaders by the Mississippi Business Journal. He is a past president of the Risk Management Association of South Mississippi and the Exchange Club. Kendricks and his wife, the former Susan Tannehill, have three children.
"Sam Kendricks has exhibited exceptional commitment to Hancock's core values and to preserving the company's trademark financial soundness during prosperous as well as economically challenging periods. We look forward to his leadership as the senior executive responsible for proactively managing Hancock's credit portfolio according to the same sound lending practices that have repeatedly earned Hancock accolades for strength, stability, and integrity," said CEO and Chief Operating Officer John M. Hairston.
Recently named among America's Top-10 Best Banks for the second year in a row by Bank Director magazine and listed as one of "The 100 Most Trustworthy Companies" by Forbes.com, Hancock Bank has rated among the nation's strongest, safest banks for 78 consecutive quarters, according to BauerFinancial, Inc.
Rath emphasized that Kendricks has been a key player on the Credit Administration team since 2002, actively participating in creating many of the current policies and practices that govern Hancock's credit activities.
"I am very pleased that we have one of our own -- another Hancock banker so deeply committed to the conservative credit philosophies that have kept us safe during these uncertain times -- so well prepared to take over this position," Rath said.
Kendricks added, "Safety and soundness have been part of Hancock's legacy for more than a century. With the capable team we have in place, our target goals remain keeping Hancock strong and providing our clients a safe haven during these difficult economic times and as America looks toward a more promising economic horizon."
Founded in 1899, Hancock Bank operates 157 banking and financial services offices and 137 ATMs along an 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. 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. Additional corporate information and e-banking are available at www.hancockbank.com.
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