Sort and wash beans; place in a large Dutch oven. Cover with water 2 inches above beans; let soak overnight.
Saute green peppers, onion and garlic in olive oil in a skillet until tender. Drain beans; stir in vegetables and next 4 ingredients. Bring to a boil over medium heat; reduce heat to low and cook, uncovered, 1 to 1 1/2 hours or until beans are tender, stirring occasionally.
Remove ham hock and bay leaves from beans; scrape meat from bone. Add meat and vinegar to beans; stir well. Serve over rice, if desired.