Guaranty National Bank, Tallahassee, Fla., which was recently closed by the Office of the Comptroller of the Currency, has reopened the doors to its five offices here as Hancock Bank of Florida, a newly-chartered bank. Carl F. Chaney, chief financial officer of Hancock Holding Co., described the $13.6 million cash deal as a "clean bank transaction." Guaranty National is the second bank to fail this year and the first in Florida since Net 1st National Bank, Boca Raton, was closed on March 1, 2002. According to the OCC, poor management resulted in the closing. Guaranty National, with approximately $71 million in assets, was chartered in 1986. It had losses of over $4 million in 2003 and over $2 million in 2002.
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