Peoples First Closed by Office of Thrift Supervision

Branch in Palm Harbor Shopping Center one of 29 acquired by Hancock Bank

Palm Coast, FL – December 22, 2009 – Bank regulators shut down Panama City-based Peoples First Community Bank on Friday. A news release stated that the savings bank “was critically undercapitalized and in an unsafe and unsound condition to transact business.” Peoples had 29 branches and $1.7 billion in deposits. Of five northeast Florida branches, one was in Flagler County; located in the Palm Harbor Shopping Center.

Peoples First was acquired by Gulfport, Miss-based Hancock Bank, which already has operations in the Florida panhandle. Hancock now has 137 branches. Customers of Peoples First became customers of Hancock over the weekend. They can continue to use their checks and ATM/debit cards.

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