Hancock Holding Company by oxo41447

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									Hancock Holding Company




      HHC Corporate Headquarters
            Gulfport, MS
              Overview of Firm

   Hancock Bank established in 1899 in Bay St. Louis,
    Mississippi
      Hancock Bank of Mississippi
      Hancock Bank of Louisiana
      Hancock Bank of Alabama
      Hancock Bank of Florida
   157 branches and financial offices
   137 ATMs
   $7.2 billion in bank assets
               Payment Keeper
2004 Hancock Bank Transitioned from Credit Life to
  Debt Protection

   Positives:
      Bank acted quickly
      Adopted the benefits of DP very early
      Chose to be pro active in finding a work - around
       for the “systems” constraints
               Payment Keeper

   Negatives
     Not enough consideration placed on lender’s
      feelings of product set
     Payment keeper was billed outside of loan
      payment – separate ACH
     Lack of accountability

     Value of product not recognized on division level
   Original Program Results

Dismal – from the 2004 Inception Date
 through May 2008 sales acceptance
 averaged 4%
      Time to Make a Change

3 Key Issues went into Decision:
   Product Review
   Process – sales and back office

   Pricing – must include fee with loan payment
    Project Implementation Team

   17 Bank Departments

   23 Bank Employees

   New administrator – Life of the South
         Project Implementation

   1200 programming hours
   New documents
   Ability to calculate payment with accrued Payment
    Keeper fee
   New reporting requirements
   Legal/Auditing requirements
Payment Keeper Product
      Summary
         Key Factors for Success

   Structure attention getting incentive program

   Direct revenue stream to branch/division
    where sale occurs


        WE DID - AND WE DID
      Current Incentive Program

   Sale of single loss of life $20.00
   Sale of joint loss of life    $30.00
   Sale of Single or joint loss of life with either
    disability or job loss        $40.00
   Sale of single or joint loss of life with both
    disability and job loss       $50.00
                         Results

   “New” payment keeper rollout – 4/7/2008
   April,08 sales penetration     20%
   Current sales penetration      25%
       Hancock Bank Mississippi   30%

At year end, 2008 we had written more contracts than
  04,05,06 and 07 combined
               Incentive Results

   Average incentive payout (quarterly) from 04, to Mar
    08 - $1,500.00

   2nd Quarter 08 payout $18,000.00
   3rd Quarter 08 payout $19,500.00
   Top Earner - $840.00
   175 lenders received incentive
   Average amount paid $111.00
               Measurement

   Projected growth rate through 2008 135%
    monthly
   4th QT. 08 average growth rate around 112%
   Presently writing installment loans only
   Will add Heloc’s 1st Quarter 2010

								
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