Business

Thursday, Nov. 05, 2009

IN BRIEF

Hancock’s common stock offering raises $175M

Hancock Holding Company’s recent public offering of common stock raised about $175.5 million in gross proceeds for general corporate purposes and potential growth. It was the lowest discount-to-last-sale of any public bank equity raise in the country year to date, according to information released Thursday by the company. The discount on Hancock’s offering relative to the price of the stock prior to filing was 2.7 percent in a year where the average discount has been more than 12 percent.

“We are very pleased with the overwhelming interest and the results this offering generated,” said Hancock Holding Company President and Chief Executive Officer Carl J. Chaney.

On Oct. 20, Hancock Holding Company, in connection with the offering, issued 4,945,000 shares of common stock, including 645,000 shares issued pursuant to the full exercise of the underwriters’ over-allotment option.

Congress extends jobless benefits

Congress on Thursday decisively approved an extension of unemployment benefits for almost two million people out of work nearly a year or more as the U.S. continues to lose jobs.

The White House quickly announced that President Barack Obama on Friday morning would sign the bill that House Speaker Nancy Pelosi characterized as a lifeline “to the men and women hardest hit by the recession,” the people who still can’t find work even as the economy shows signs of coming back to life. The measure cleared the House 403-12 Thursday.

Ohio voters approve casino openings

Ohio voters have approved the opening of casinos in Toledo and three other cities, leaving officials and gambling interests in neighboring Indiana and Michigan worried that millions of dollars in gambling revenues — and taxes — are at risk.

Indiana’s casinos pay more than $900 million in state and local taxes annually. Any loss of casino tax revenue would also hurt Detroit and Michigan.

— The Associated Press