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Guaranty National Bank has reopened the doors to its five offices as Hancock Bank of Florida, a newly chartered bank.
At the time it was closed by the Office of the Comptroller of the Currency, Guaranty National here had total deposits of approximately $66.9 million. Depositors of the bank have automatically become depositors of Hancock Bank, according to the FDIC.
Carl F. Chaney, chief financial officer of Hancock Holding Co., described the $13.6 million cash deal as a "clean bank transaction." As part of the agreement, he said, the Federal Deposit Insurance Corp. stripped out all of the nonperforming assets and transferred only the good performing assets to Hancock. The company picked up about $67 million...