EX-99.1 2 hwc-ex99_1.htm EX-99.1 EX-99.1

 

Exhibit 99.1

img88180657_0.jpg

 

FOR IMMEDIATE RELEASE

October 14, 2025

For more information

Kathryn Shrout Mistich, VP, Investor Relations Manager

504.539.7836 or kathryn.mistich@hancockwhitney.com

 

 

Hancock Whitney reports third quarter 2025 EPS of $1.49

 

GULFPORT, Miss. (October 14, 2025) — Hancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the third quarter of 2025. Net income for the third quarter of 2025 totaled $127.5 million, or $1.49 per diluted common share (EPS), compared to $113.5 million, or $1.32 per diluted common share, in the second quarter of 2025. The company reported net income for the third quarter of 2024 of $115.6 million, or $1.33 per diluted common share. The second quarter of 2025 included $5.9 million, or $0.05 per share, of supplemental disclosure items related to the acquisition of Sabal Trust Company. There were no supplemental disclosure items in the third quarters of 2025 and 2024.

Third Quarter 2025 Highlights

•
Net income totaled $127.5 million, or $1.49 per diluted share, compared to $113.5 million, or $1.32 per diluted share in the second quarter of 2025
•
Adjusted pre-provision net revenue (PPNR) totaled $175.6 million, up $7.6 million, or 5%, compared to the second quarter of 2025
•
Loans increased $134.8 million, or 2% linked quarter annualized (LQA)
•
Deposits decreased $386.9 million, or 5% LQA
•
Criticized commercial loans continued to moderate and nonaccrual loans increased
•
ACL coverage solid at 1.45%, unchanged from prior quarter
•
NIM 3.49%, consistent with prior quarter
•
CET1 ratio estimated at 14.08%, up 11 bps linked-quarter; TCE ratio of 10.01%, up 17 bps linked-quarter; total risk-based capital ratio estimated at 15.91%, up 9 bps linked-quarter
•
Efficiency ratio of 54.10%, improved 81 bps compared to prior quarter

“The third quarter of 2025 results reflect another quarter of exceptionally strong performance,” said John M. Hairston, President & CEO. “We saw continued improvement in profitability and progress on our growth plan for 2025. Our ROA was a remarkable 1.46%, our efficiency ratio improved to 54.10%, and our NIM was stable at 3.49% despite a falling rate environment. Our earnings performance contributed to growth in all of our capital ratios, while we continued to deploy capital through organic balance sheet growth and repurchasing 662,500 shares of our common stock. As 2025 draws to a close, we remain committed to executing on our organic growth plan, maintaining operational efficiency, and proactively managing capital.”

 

1

 

 

Loans

Total loans were $23.6 billion at September 30, 2025, up $134.8 million, or 1%, from June 30, 2025. Loan growth was realized across commercial real estate-owner occupied loans, commercial real estate-income producing loans, and equipment finance loans, partially offset by higher loan payoffs and lower credit line utilization.

Average loans totaled $23.4 billion for the third quarter of 2025, up $176.7 million, or 1%, linked-quarter. For 2025, we expect low-single digit growth both year-over-year and in the fourth quarter of 2025.

Deposits

Total deposits at September 30, 2025 were $28.7 billion, down $386.9 million, or 1%, from June 30, 2025.

Noninterest-bearing DDAs totaled $10.3 billion at September 30, 2025, down $333.5 million, or 3%, from June 30, 2025, and comprised 36% of total period-end deposits. The linked-quarter decrease in noninterest-bearing DDA was related to unfavorable seasonality, expected outflows of temporary balances, and a decrease in public fund DDA balances.

Interest-bearing transaction and savings deposits totaled $11.8 billion at the end of the third quarter of 2025, up $278.0 million, or 2%, linked-quarter. This increase was due to competitive products and pricing.

Compared to June 30, 2025, retail time deposits of $3.8 billion were down $145.4 million, or 4%, driven by maturity concentration and promotional rate reductions during the third quarter of 2025. Interest-bearing public fund deposits decreased $186.0 billion, or 6%, linked-quarter, totaling $2.8 billion at September 30, 2025. The decrease in interest-bearing public funds resulted from seasonal outflows.

Average deposits for the third quarter of 2025 were $28.5 billion, down $157.8 million, or 1%, linked-quarter. Management expects 2025 period-end deposit levels to be up low-single digits from December 31, 2024 levels.

Asset Quality

The total allowance for credit losses (ACL) was $341.5 million at September 30, 2025, up $1.2 million, or less than 1%, from June 30, 2025. During the third quarter of 2025, the company recorded a provision for credit losses of $12.7 million, compared to $14.9 million in the second quarter of 2025. There were $11.4 million of net charge-offs in the third quarter of 2025, or 0.19% of average total loans on an annualized basis, compared to net charge-offs of $17.8 million, or 0.31% of average total loans in the second quarter of 2025. The ratio of ACL to period-end loans was 1.45% at September 30, 2025, consistent with June 30, 2025.

 

Criticized commercial loans totaled $549.2 million, or 3.01% of total commercial loans, at September 30, 2025, compared to $569.3 million, or 3.15% of total commercial loans, at June 30, 2025. Nonaccrual loans totaled $113.6 million, or 0.48% of total loans, at September 30, 2025, compared to $94.9 million, or 0.40% of total loans, at June 30, 2025. ORE and foreclosed assets were $11.1 million at September 30, 2025, down $15.7 million, or 59%, compared to June 30, 2025.

 

 

 

 

2

 

 

Net Interest Income and Net Interest Margin (NIM)

Net interest income (TE) for the third quarter of 2025 was $282.3 million, an increase of $2.9 million, or 1%, from the second quarter of 2025. The net interest margin (NIM) (TE) was 3.49% in the third quarter of 2025, flat linked-quarter, as securities yields (+2 bps) and better earning assets mix and higher average loans (+2 bps), were offset by an unfavorable other borrowings volumes and rates (-4 bps).

Average earning assets were $32.2 billion for the third quarter of 2025, up $132.5 million, or less than 1%, from the second quarter of 2025.

Noninterest Income

Noninterest income totaled $106.0 million for the third quarter of 2025, up $7.5 million, or 8%, from the second quarter of 2025.

Service charges on deposits were up $1.0 million, or 4%, from the second quarter of 2025 due to higher client account activity. Bank card and ATM fees were down $0.2 million, or 1%, from the second quarter of 2025.

Investment and annuity income and insurance fees were up $3.9 million, or 37%, linked-quarter, related to higher annuity sales and higher fees earned on investment trading. Trust fees were up $1.5 million, or 6% linked-quarter, due to an additional month of revenue from the acquisition of Sabal Trust Company. Fees from secondary mortgage operations totaled $3.5 million for the third quarter of 2025, down $0.7 million, or 16%, linked-quarter.

Other noninterest income was $16.8 million in the third quarter of 2025, up $2.0 million, or 14%, from the second quarter of 2025. The increase was primarily due to higher syndication fees, gains on the sale of leases and SBA loans, and higher BOLI income, partially offset by lower SBIC income.

Noninterest Expense & Taxes

Noninterest expense totaled $212.8 million, down $3.2 million, or 1% linked-quarter. There were no supplemental disclosure items in the third quarter of 2025. The second quarter of 2025 included $5.9 million of supplemental disclosure items related to one-time expenses incurred due to the acquisition of Sabal Trust Company.

Personnel expense totaled $122.0 million in the third quarter of 2025, up $5.5 million, or 5%, linked-quarter, or up $6.9 million, or 6%, linked quarter adjusted for Sabal Trust Company acquisition costs. This increase was related to hiring efforts, one additional work day, and higher incentive expenses.

Net occupancy and equipment expense totaled $18.2 million in the third quarter of 2025, down $0.1 million, or 1%, from the second quarter of 2025. Amortization of intangibles totaled $2.7 million for the third quarter of 2025, up $0.2 million, or 7%, linked-quarter.

Net gains on ORE and other foreclosed assets totaled $0.3 million in the third quarter of 2025, compared to a net expense of $1.2 million in the second quarter of 2025.

Other expenses totaled $70.2 million in the third quarter of 2025, down $7.2 million, or 9%, linked-quarter, or down $2.8 million, or 4%, linked quarter adjusted for Sabal Trust Company acquisition costs. This decrease is primarily related to lower data processing and professional services expense. Prior quarter’s other expenses included $4.5 million of one-time expenses included in the supplemental disclosure items related to the acquisition of Sabal Trust Company.

3

 

 

The effective income tax rate for the third quarter of 2025 was 20.5%.

Capital

Common stockholders’ equity at September 30, 2025 totaled $4.5 billion, up $109.1 million, or 2%, from June 30, 2025. The tangible common equity (TCE) ratio was 10.01%, up 17 bps linked-quarter. The company’s CET1 ratio is estimated to be 14.08% at September 30, 2025, up 11 bps linked-quarter. Total risk-based capital ratio is estimated to be 15.91% at September 30, 2025, up 9 bps linked-quarter. During the third quarter of 2025, the company repurchased 662,500 shares of its common stock at an average price of $60.45 per share. This stock repurchase is pursuant to the company’s share buyback program (which authorized the repurchase of up to 4,306,000 shares of the company’s outstanding common stock), which expires on December 31, 2026. Since its inception, the company has repurchased 1,762,500 shares under this share buyback program.

Conference Call and Slide Presentation

Management will host a conference call for analysts and investors at 3:30 p.m. Central Time on Tuesday, October 14, 2025 to review third quarter of 2025 results. A live listen-only webcast of the call will be available under the Investor Relations section of Hancock Whitney’s website at investors.hancockwhitney.com. A link to the release with additional financial tables, and a link to a slide presentation related to third quarter results are also posted as part of the webcast link. To participate in the Q&A portion of the call, dial 800-715-9871 or 646-307-1963, access code 8545141.

An audio archive of the conference call will be available under the Investor Relations section of our website. A replay of the call will also be available through October 21, 2025 by dialing 800-770-2030 or 609-800-9909, access code 8545141.

About Hancock Whitney

Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; and mortgage services. The company also operates combined loan and deposit production offices in the greater metropolitan areas of Nashville, Tennessee, and Atlanta, Georgia. More information is available at www.hancockwhitney.com.

Non-GAAP Financial Measures

This news release includes non-GAAP financial measures to describe Hancock Whitney’s performance. These non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently. The reconciliations of those measures to GAAP measures are provided either in the financial tables or in Appendix A thereto.

Consistent with the provisions of subpart 229.1400 of the Securities and Exchange Commission’s Regulation S-K, “Disclosures by Bank and Savings and Loan Registrants,” the company presents net interest income, net interest margin and efficiency ratios on a fully taxable equivalent (“TE”) basis. The TE basis adjusts for the tax-favored status of net interest income from certain loans and investments using the statutory federal tax rate to increase tax-exempt interest income to a taxable equivalent basis. The company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

4

 

 

The company presents certain additional non-GAAP financial measures to assist the reader with a better understanding of the company’s performance period over period, as well as to provide investors with assistance in understanding the success management has experienced in executing its strategic initiatives. The company highlights certain items that are outside of our principal business and/or are not indicative of forward-looking trends in supplemental disclosures items below our GAAP financial data and presents certain “Adjusted” ratios that exclude these disclosed items. These adjusted ratios provide management or the reader with a measure that may be more indicative of forward-looking trends in our business, as well as demonstrates the effects of significant gains or losses and changes.

We define Adjusted Pre-Provision Net Revenue as net income excluding provision expense and income tax expense, plus the taxable equivalent adjustment (as defined above), less supplemental disclosure items (as defined above). Management believes that adjusted pre-provision net revenue is a useful financial measure because it enables investors and others to assess the company’s ability to generate capital to cover credit losses through a credit cycle. We define Adjusted Revenue as net interest income (te) and noninterest income less supplemental disclosure items. We define Adjusted Noninterest Expense as noninterest expense less supplemental disclosure items. We define our Efficiency Ratio as noninterest expense to total net interest income (te) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items, if applicable. Management believes adjusted revenue, adjusted noninterest expense and the efficiency ratio are useful measures as they provide a greater understanding of ongoing operations and enhance comparability with prior periods.

Important Cautionary Statement about Forward-Looking Statements

This release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements that we may make include statements regarding our expectations of our performance and financial condition, balance sheet and revenue growth, the provision for credit losses, capital levels, deposits (including growth, pricing, and betas), investment portfolio, other sources of liquidity, loan growth expectations, management’s predictions about charge-offs for loans, the impact of current and future economic conditions, including the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment, inflationary pressures, increasing insurance costs, fluctuations in interest rates, including the impact of changes in interest rates on our financial projections, models and guidance and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing, general economic business conditions in our local markets, Federal Reserve action with respect to interest rates, the effects of war or other conflicts, acts of terrorism, climate change, the impact of natural or man-made disasters, the adequacy of our enterprise risk management framework, potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings, assessments, and enforcement actions, as well as the impact of negative developments affecting the banking industry and the resulting media coverage; the potential impact of current (including Sabal Trust Company) or future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, success of revenue-generating and cost reduction initiatives, the potential impact of third-party business combinations in our footprint on our performance and financial condition, the effectiveness of derivative financial instruments and hedging activities to manage risks, projected tax rates, increased cybersecurity risks, including potential business disruptions or financial losses, the adequacy of our internal controls over financial and non-financial reporting, the financial impact of regulatory requirements and tax reform legislation, deposit trends, credit quality trends, net interest margin trends, future expense

5

 

 

levels, future profitability, improvements in expense to revenue (efficiency) ratio, purchase accounting impacts and expected returns. Also, any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “forecast,” “goals,” “targets,” “initiatives,” “focus,” “potentially,” “probably,” “projects,” “outlook," or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events.

Forward-looking statements are subject to significant risks and uncertainties. Any forward-looking statement made in this release is subject to the safe harbor protections set forth in the Private Securities Litigation Reform Act of 1995. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and in other periodic reports that we file with the SEC.

 

 

 

6

 

 

HANCOCK WHITNEY CORPORATION

 

FINANCIAL HIGHLIGHTS

 

(Unaudited)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

(dollars and common share data in thousands, except per share amounts)

 

9/30/2025

 

 

6/30/2025

 

 

9/30/2024

 

 

9/30/2025

 

 

9/30/2024

 

NET INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

279,738

 

 

$

276,959

 

 

$

271,764

 

 

$

826,602

 

 

$

808,365

 

Net interest income (TE) (a)

 

 

282,309

 

 

 

279,455

 

 

 

274,457

 

 

 

834,475

 

 

 

816,716

 

Provision for credit losses

 

 

12,651

 

 

 

14,925

 

 

 

18,564

 

 

 

38,038

 

 

 

40,255

 

Noninterest income

 

 

106,001

 

 

 

98,524

 

 

 

95,895

 

 

 

299,316

 

 

 

272,920

 

Noninterest expense

 

 

212,753

 

 

 

215,979

 

 

 

203,839

 

 

 

633,791

 

 

 

617,577

 

Income tax expense

 

 

32,869

 

 

 

31,048

 

 

 

29,684

 

 

 

93,588

 

 

 

84,712

 

Net income

 

$

127,466

 

 

$

113,531

 

 

$

115,572

 

 

$

360,501

 

 

$

338,741

 

Supplemental disclosure items - included above, pre-tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in noninterest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sabal Trust Company acquisition expense

 

$

—

 

 

$

5,911

 

 

$

—

 

 

$

5,911

 

 

$

—

 

FDIC special assessment

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,800

 

PERIOD-END BALANCE SHEET DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

23,596,565

 

 

$

23,461,750

 

 

$

23,455,587

 

 

$

23,596,565

 

 

$

23,455,587

 

Securities

 

 

7,991,281

 

 

 

7,868,011

 

 

 

7,769,780

 

 

 

7,991,281

 

 

 

7,769,780

 

Earning assets

 

 

32,532,320

 

 

 

31,965,130

 

 

 

32,045,222

 

 

 

32,532,320

 

 

 

32,045,222

 

Total assets

 

 

35,766,407

 

 

 

35,212,652

 

 

 

35,238,107

 

 

 

35,766,407

 

 

 

35,238,107

 

Noninterest-bearing deposits

 

 

10,305,303

 

 

 

10,638,785

 

 

 

10,499,476

 

 

 

10,305,303

 

 

 

10,499,476

 

Total deposits

 

 

28,659,750

 

 

 

29,046,612

 

 

 

28,982,905

 

 

 

28,659,750

 

 

 

28,982,905

 

Common stockholders' equity

 

 

4,474,479

 

 

 

4,365,419

 

 

 

4,174,687

 

 

 

4,474,479

 

 

 

4,174,687

 

AVERAGE BALANCE SHEET DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

23,425,895

 

 

$

23,249,241

 

 

$

23,552,002

 

 

$

23,249,212

 

 

$

23,759,083

 

Securities (b)

 

 

8,383,771

 

 

 

8,271,777

 

 

 

8,218,896

 

 

 

8,299,542

 

 

 

8,210,192

 

Earning assets

 

 

32,213,632

 

 

 

32,081,140

 

 

 

32,263,748

 

 

 

32,106,914

 

 

 

32,452,619

 

Total assets

 

 

34,751,209

 

 

 

34,527,276

 

 

 

34,780,386

 

 

 

34,546,116

 

 

 

34,959,722

 

Noninterest-bearing deposits

 

 

10,121,707

 

 

 

10,317,446

 

 

 

10,359,390

 

 

 

10,200,640

 

 

 

10,519,199

 

Total deposits

 

 

28,492,076

 

 

 

28,649,900

 

 

 

28,940,163

 

 

 

28,630,511

 

 

 

29,189,160

 

Common stockholders' equity

 

 

4,368,746

 

 

 

4,284,279

 

 

 

4,021,211

 

 

 

4,279,294

 

 

 

3,889,265

 

COMMON SHARE DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - diluted

 

$

1.49

 

 

$

1.32

 

 

$

1.33

 

 

$

4.17

 

 

$

3.88

 

Cash dividends per share

 

 

0.45

 

 

 

0.45

 

 

 

0.40

 

 

 

1.35

 

 

 

1.10

 

Book value per share (period-end)

 

 

52.82

 

 

 

51.15

 

 

 

48.47

 

 

 

52.82

 

 

 

48.47

 

Tangible book value per share (period-end)

 

 

41.07

 

 

 

39.46

 

 

 

38.10

 

 

 

41.07

 

 

 

38.10

 

Weighted average number of shares - diluted

 

 

85,453

 

 

 

85,943

 

 

 

86,560

 

 

 

85,977

 

 

 

86,650

 

Period-end number of shares

 

 

84,711

 

 

 

85,351

 

 

 

86,136

 

 

 

84,711

 

 

 

86,136

 

Market data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High sales price

 

$

64.66

 

 

$

58.24

 

 

$

57.78

 

 

$

64.66

 

 

$

57.78

 

Low sales price

 

 

56.87

 

 

 

43.90

 

 

 

45.26

 

 

 

43.90

 

 

 

41.19

 

Period-end closing price

 

 

62.61

 

 

 

57.40

 

 

 

51.17

 

 

 

62.61

 

 

 

51.17

 

Trading volume

 

 

51,077

 

 

 

43,450

 

 

 

35,017

 

 

 

136,219

 

 

 

94,834

 

PERFORMANCE RATIOS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on average assets

 

 

1.46

%

 

 

1.32

%

 

 

1.32

%

 

 

1.40

%

 

 

1.29

%

Return on average common equity

 

 

11.58

%

 

 

10.63

%

 

 

11.43

%

 

 

11.26

%

 

 

11.63

%

Return on average tangible common equity

 

 

15.00

%

 

 

13.71

%

 

 

14.70

%

 

 

14.48

%

 

 

15.12

%

Tangible common equity ratio (c)

 

 

10.01

%

 

 

9.84

%

 

 

9.56

%

 

 

10.01

%

 

 

9.56

%

Net interest margin (TE)

 

 

3.49

%

 

 

3.49

%

 

 

3.39

%

 

 

3.47

%

 

 

3.36

%

Noninterest income as a percentage of total revenue (TE)

 

 

27.30

%

 

 

26.07

%

 

 

25.89

%

 

 

26.40

%

 

 

25.05

%

Efficiency ratio (d)

 

 

54.10

%

 

 

54.91

%

 

 

54.42

%

 

 

54.73

%

 

 

55.67

%

Average loan/deposit ratio

 

 

82.22

%

 

 

81.15

%

 

 

81.38

%

 

 

81.20

%

 

 

81.40

%

Allowance for loan losses as a percentage of period-end loans

 

 

1.33

%

 

 

1.33

%

 

 

1.35

%

 

 

1.33

%

 

 

1.35

%

Allowance for credit losses as a percentage of period-end loans (e)

 

 

1.45

%

 

 

1.45

%

 

 

1.46

%

 

 

1.45

%

 

 

1.46

%

Annualized net charge-offs to average loans

 

 

0.19

%

 

 

0.31

%

 

 

0.30

%

 

 

0.23

%

 

 

0.19

%

Allowance for loan losses as a % of nonaccrual loans

 

 

276.20

%

 

 

329.94

%

 

 

382.87

%

 

 

276.20

%

 

 

382.87

%

FTE headcount

 

 

3,603

 

 

 

3,580

 

 

 

3,458

 

 

 

3,603

 

 

 

3,458

 

(a) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

(b) Average securities does not include unrealized holding gains/losses on available for sale securities.

 

(c) The tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets.

 

(d) The efficiency ratio is noninterest expense to total net interest income (TE) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items noted above.

 

(e) The allowance for credit losses includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.

 

 

7

 

 

HANCOCK WHITNEY CORPORATION

 

QUARTERLY FINANCIAL HIGHLIGHTS

 

(Unaudited)

 

 

 

Three Months Ended

 

(dollars and common share data in thousands, except per share amounts)

 

9/30/2025

 

 

6/30/2025

 

 

3/31/2025

 

 

12/31/2024

 

 

9/30/2024

 

NET INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

279,738

 

 

$

276,959

 

 

$

269,905

 

 

$

273,556

 

 

$

271,764

 

Net interest income (TE) (a)

 

 

282,309

 

 

 

279,455

 

 

 

272,711

 

 

 

276,291

 

 

 

274,457

 

Provision for credit losses

 

 

12,651

 

 

 

14,925

 

 

 

10,462

 

 

 

11,912

 

 

 

18,564

 

Noninterest income

 

 

106,001

 

 

 

98,524

 

 

 

94,791

 

 

 

91,209

 

 

 

95,895

 

Noninterest expense

 

 

212,753

 

 

 

215,979

 

 

 

205,059

 

 

 

202,333

 

 

 

203,839

 

Income tax expense

 

 

32,869

 

 

 

31,048

 

 

 

29,671

 

 

 

28,446

 

 

 

29,684

 

Net income

 

$

127,466

 

 

$

113,531

 

 

$

119,504

 

 

$

122,074

 

 

$

115,572

 

Supplemental disclosure items - included above, pre-tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in noninterest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sabal Trust Company acquisition expense

 

$

—

 

 

$

5,911

 

 

$

—

 

 

$

—

 

 

$

—

 

PERIOD-END BALANCE SHEET DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

23,596,565

 

 

$

23,461,750

 

 

$

23,098,146

 

 

$

23,299,447

 

 

$

23,455,587

 

Securities

 

 

7,991,281

 

 

 

7,868,011

 

 

 

7,694,969

 

 

 

7,597,154

 

 

 

7,769,780

 

Earning assets

 

 

32,532,320

 

 

 

31,965,130

 

 

 

31,661,169

 

 

 

31,857,841

 

 

 

32,045,222

 

Total assets

 

 

35,766,407

 

 

 

35,212,652

 

 

 

34,750,680

 

 

 

35,081,785

 

 

 

35,238,107

 

Noninterest-bearing deposits

 

 

10,305,303

 

 

 

10,638,785

 

 

 

10,614,874

 

 

 

10,597,461

 

 

 

10,499,476

 

Total deposits

 

 

28,659,750

 

 

 

29,046,612

 

 

 

29,194,733

 

 

 

29,492,851

 

 

 

28,982,905

 

Common stockholders' equity

 

 

4,474,479

 

 

 

4,365,419

 

 

 

4,278,672

 

 

 

4,127,636

 

 

 

4,174,687

 

AVERAGE BALANCE SHEET DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

23,425,895

 

 

$

23,249,241

 

 

$

23,068,573

 

 

$

23,248,512

 

 

$

23,552,002

 

Securities (b)

 

 

8,383,771

 

 

 

8,271,777

 

 

 

8,241,514

 

 

 

8,257,061

 

 

 

8,218,896

 

Earning assets

 

 

32,213,632

 

 

 

32,081,140

 

 

 

32,023,885

 

 

 

32,333,012

 

 

 

32,263,748

 

Total assets

 

 

34,751,209

 

 

 

34,527,276

 

 

 

34,355,515

 

 

 

34,770,663

 

 

 

34,780,386

 

Noninterest-bearing deposits

 

 

10,121,707

 

 

 

10,317,446

 

 

 

10,163,221

 

 

 

10,409,022

 

 

 

10,359,390

 

Total deposits

 

 

28,492,076

 

 

 

28,649,900

 

 

 

28,752,416

 

 

 

29,108,381

 

 

 

28,940,163

 

Common stockholders' equity

 

 

4,368,746

 

 

 

4,284,279

 

 

 

4,182,814

 

 

 

4,138,326

 

 

 

4,021,211

 

COMMON SHARE DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - diluted

 

$

1.49

 

 

$

1.32

 

 

$

1.38

 

 

$

1.40

 

 

$

1.33

 

Cash dividends per share

 

 

0.45

 

 

 

0.45

 

 

 

0.45

 

 

 

0.40

 

 

 

0.40

 

Book value per share (period-end)

 

 

52.82

 

 

 

51.15

 

 

 

49.73

 

 

 

47.93

 

 

 

48.47

 

Tangible book value per share (period-end)

 

 

41.07

 

 

 

39.46

 

 

 

39.40

 

 

 

37.58

 

 

 

38.10

 

Weighted average number of shares - diluted

 

 

85,453

 

 

 

85,943

 

 

 

86,462

 

 

 

86,602

 

 

 

86,560

 

Period-end number of shares

 

 

84,711

 

 

 

85,351

 

 

 

86,033

 

 

 

86,124

 

 

 

86,136

 

Market data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High sales price

 

$

64.66

 

 

$

58.24

 

 

$

61.57

 

 

$

62.40

 

 

$

57.78

 

Low sales price

 

 

56.87

 

 

 

43.90

 

 

 

49.46

 

 

 

48.36

 

 

 

45.26

 

Period-end closing price

 

 

62.61

 

 

 

57.40

 

 

 

52.45

 

 

 

54.72

 

 

 

51.17

 

Trading volume

 

 

51,077

 

 

 

43,450

 

 

 

41,692

 

 

 

32,670

 

 

 

35,017

 

PERFORMANCE RATIOS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on average assets

 

 

1.46

%

 

 

1.32

%

 

 

1.41

%

 

 

1.40

%

 

 

1.32

%

Return on average common equity

 

 

11.58

%

 

 

10.63

%

 

 

11.59

%

 

 

11.74

%

 

 

11.43

%

Return on average tangible common equity

 

 

15.00

%

 

 

13.71

%

 

 

14.72

%

 

 

14.96

%

 

 

14.70

%

Tangible common equity ratio (c)

 

 

10.01

%

 

 

9.84

%

 

 

10.01

%

 

 

9.47

%

 

 

9.56

%

Net interest margin (TE)

 

 

3.49

%

 

 

3.49

%

 

 

3.43

%

 

 

3.41

%

 

 

3.39

%

Noninterest income as a percentage of total revenue (TE)

 

 

27.30

%

 

 

26.07

%

 

 

25.79

%

 

 

24.82

%

 

 

25.89

%

Efficiency ratio (d)

 

 

54.10

%

 

 

54.91

%

 

 

55.22

%

 

 

54.46

%

 

 

54.42

%

Average loan/deposit ratio

 

 

82.22

%

 

 

81.15

%

 

 

80.23

%

 

 

79.87

%

 

 

81.38

%

Allowance for loan losses as a percentage of period-end loans

 

 

1.33

%

 

 

1.33

%

 

 

1.38

%

 

 

1.37

%

 

 

1.35

%

Allowance for credit losses as a percentage of period-end loans (e)

 

 

1.45

%

 

 

1.45

%

 

 

1.49

%

 

 

1.47

%

 

 

1.46

%

Annualized net charge-offs to average loans

 

 

0.19

%

 

 

0.31

%

 

 

0.18

%

 

 

0.20

%

 

 

0.30

%

Allowance for loan losses as a % of nonaccrual loans

 

 

276.20

%

 

 

329.94

%

 

 

305.26

%

 

 

327.61

%

 

 

382.87

%

FTE headcount

 

 

3,603

 

 

 

3,580

 

 

 

3,497

 

 

 

3,476

 

 

 

3,458

 

(a) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

(b) Average securities does not include unrealized holding gains/losses on available for sale securities.

 

(c) The tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets.

 

(d) The efficiency ratio is noninterest expense to total net interest income (TE) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosures noted above.

 

(e) The allowance for credit losses includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.

 

 

8

 

 

HANCOCK WHITNEY CORPORATION

 

INCOME STATEMENT

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

(dollars in thousands, except per share data)

 

9/30/2025

 

 

6/30/2025

 

 

9/30/2024

 

 

9/30/2025

 

 

9/30/2024

 

NET INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

409,020

 

 

$

402,581

 

 

$

429,476

 

 

$

1,206,922

 

 

$

1,278,705

 

Interest income (TE) (f)

 

 

411,591

 

 

 

405,077

 

 

 

432,169

 

 

 

1,214,795

 

 

 

1,287,056

 

Interest expense

 

 

129,282

 

 

 

125,622

 

 

 

157,712

 

 

 

380,320

 

 

 

470,340

 

Net interest income (TE)

 

 

282,309

 

 

 

279,455

 

 

 

274,457

 

 

 

834,475

 

 

 

816,716

 

Provision for credit losses

 

 

12,651

 

 

 

14,925

 

 

 

18,564

 

 

 

38,038

 

 

 

40,255

 

Noninterest income

 

 

106,001

 

 

 

98,524

 

 

 

95,895

 

 

 

299,316

 

 

 

272,920

 

Noninterest expense

 

 

212,753

 

 

 

215,979

 

 

 

203,839

 

 

 

633,791

 

 

 

617,577

 

Income before income taxes

 

 

160,335

 

 

 

144,579

 

 

 

145,256

 

 

 

454,089

 

 

 

423,453

 

Income tax expense

 

 

32,869

 

 

 

31,048

 

 

 

29,684

 

 

 

93,588

 

 

 

84,712

 

Net income

 

$

127,466

 

 

$

113,531

 

 

$

115,572

 

 

$

360,501

 

 

$

338,741

 

Supplemental disclosure items - included above, pre-tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in noninterest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sabal Trust Company acquisition expense

 

$

—

 

 

$

5,911

 

 

$

—

 

 

$

5,911

 

 

$

—

 

FDIC special assessment

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,800

 

NONINTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

25,220

 

 

$

24,256

 

 

$

23,144

 

 

$

73,595

 

 

$

67,658

 

Trust fees

 

 

24,211

 

 

 

22,753

 

 

 

18,014

 

 

 

64,986

 

 

 

53,564

 

Bank card and ATM fees

 

 

21,814

 

 

 

22,004

 

 

 

21,639

 

 

 

64,532

 

 

 

64,088

 

Investment and annuity fees and insurance commissions

 

 

14,507

 

 

 

10,603

 

 

 

10,890

 

 

 

36,525

 

 

 

32,523

 

Secondary mortgage market operations

 

 

3,475

 

 

 

4,147

 

 

 

3,379

 

 

 

11,090

 

 

 

9,816

 

Other income

 

 

16,774

 

 

 

14,761

 

 

 

18,829

 

 

 

48,588

 

 

 

45,271

 

Total noninterest income

 

$

106,001

 

 

$

98,524

 

 

$

95,895

 

 

$

299,316

 

 

$

272,920

 

NONINTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personnel expense

 

$

122,022

 

 

$

116,512

 

 

$

115,771

 

 

$

352,881

 

 

$

355,654

 

Net occupancy and equipment expense

 

 

18,222

 

 

 

18,366

 

 

 

18,127

 

 

 

54,259

 

 

 

53,220

 

Other real estate and foreclosed assets expense (income), net

 

 

(337

)

 

 

1,181

 

 

 

(411

)

 

 

2,624

 

 

 

(1,706

)

Other expense

 

 

70,152

 

 

 

77,396

 

 

 

68,060

 

 

 

216,696

 

 

 

203,202

 

Amortization of intangibles

 

 

2,694

 

 

 

2,524

 

 

 

2,292

 

 

 

7,331

 

 

 

7,207

 

Total noninterest expense

 

$

212,753

 

 

$

215,979

 

 

$

203,839

 

 

$

633,791

 

 

$

617,577

 

COMMON SHARE DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.50

 

 

$

1.32

 

 

$

1.33

 

 

$

4.20

 

 

$

3.89

 

Diluted

 

 

1.49

 

 

 

1.32

 

 

 

1.33

 

 

 

4.17

 

 

 

3.88

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(f) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

 

9

 

 

HANCOCK WHITNEY CORPORATION

 

INCOME STATEMENT

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

(in thousands, except per share data)

 

9/30/2025

 

 

6/30/2025

 

 

3/31/2025

 

 

12/31/2024

 

 

9/30/2024

 

NET INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

409,020

 

 

$

402,581

 

 

$

395,321

 

 

$

414,286

 

 

$

429,476

 

Interest income (TE) (f)

 

 

411,591

 

 

 

405,077

 

 

 

398,127

 

 

 

417,021

 

 

 

432,169

 

Interest expense

 

 

129,282

 

 

 

125,622

 

 

 

125,416

 

 

 

140,730

 

 

 

157,712

 

Net interest income (TE)

 

 

282,309

 

 

 

279,455

 

 

 

272,711

 

 

 

276,291

 

 

 

274,457

 

Provision for credit losses

 

 

12,651

 

 

 

14,925

 

 

 

10,462

 

 

 

11,912

 

 

 

18,564

 

Noninterest income

 

 

106,001

 

 

 

98,524

 

 

 

94,791

 

 

 

91,209

 

 

 

95,895

 

Noninterest expense

 

 

212,753

 

 

 

215,979

 

 

 

205,059

 

 

 

202,333

 

 

 

203,839

 

Income before income taxes

 

 

160,335

 

 

 

144,579

 

 

 

149,175

 

 

 

150,520

 

 

 

145,256

 

Income tax expense

 

 

32,869

 

 

 

31,048

 

 

 

29,671

 

 

 

28,446

 

 

 

29,684

 

Net income

 

$

127,466

 

 

$

113,531

 

 

$

119,504

 

 

$

122,074

 

 

$

115,572

 

Supplemental disclosure items - included above, pre-tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in noninterest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sabal Trust Company acquisition expense

 

$

—

 

 

$

5,911

 

 

$

—

 

 

$

—

 

 

$

—

 

NONINTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

$

25,220

 

 

$

24,256

 

 

$

24,119

 

 

$

23,447

 

 

$

23,144

 

Trust fees

 

 

24,211

 

 

 

22,753

 

 

 

18,022

 

 

 

18,170

 

 

 

18,014

 

Bank card and ATM fees

 

 

21,814

 

 

 

22,004

 

 

 

20,714

 

 

 

21,403

 

 

 

21,639

 

Investment and annuity fees and insurance commissions

 

 

14,507

 

 

 

10,603

 

 

 

11,415

 

 

 

10,901

 

 

 

10,890

 

Secondary mortgage market operations

 

 

3,475

 

 

 

4,147

 

 

 

3,468

 

 

 

2,558

 

 

 

3,379

 

Other income

 

 

16,774

 

 

 

14,761

 

 

 

17,053

 

 

 

14,730

 

 

 

18,829

 

Total noninterest income

 

$

106,001

 

 

$

98,524

 

 

$

94,791

 

 

$

91,209

 

 

$

95,895

 

NONINTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personnel expense

 

$

122,022

 

 

$

116,512

 

 

$

114,347

 

 

$

113,723

 

 

$

115,771

 

Net occupancy and equipment expense

 

 

18,222

 

 

 

18,366

 

 

 

17,671

 

 

 

17,862

 

 

 

18,127

 

Other real estate and foreclosed assets expense (income), net

 

 

(337

)

 

 

1,181

 

 

 

1,780

 

 

 

(763

)

 

 

(411

)

Other expense

 

 

70,152

 

 

 

77,396

 

 

 

69,148

 

 

 

69,305

 

 

 

68,060

 

Amortization of intangibles

 

 

2,694

 

 

 

2,524

 

 

 

2,113

 

 

 

2,206

 

 

 

2,292

 

Total noninterest expense

 

$

212,753

 

 

$

215,979

 

 

$

205,059

 

 

$

202,333

 

 

$

203,839

 

COMMON SHARE DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.50

 

 

$

1.32

 

 

$

1.38

 

 

$

1.41

 

 

$

1.33

 

Diluted

 

 

1.49

 

 

 

1.32

 

 

 

1.38

 

 

 

1.40

 

 

 

1.33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(f) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

 

10

 

 

 

HANCOCK WHITNEY CORPORATION

 

PERIOD-END BALANCE SHEET

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(dollars in thousands)

 

9/30/2025

 

 

6/30/2025

 

 

3/31/2025

 

 

12/31/2024

 

 

9/30/2024

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate loans

 

$

9,680,597

 

 

$

9,760,733

 

 

$

9,636,594

 

 

$

9,876,592

 

 

$

9,588,309

 

Commercial real estate - owner occupied loans

 

 

3,279,258

 

 

 

3,136,182

 

 

 

3,000,998

 

 

 

3,011,955

 

 

 

3,096,173

 

Total commercial and industrial loans

 

 

12,959,855

 

 

 

12,896,915

 

 

 

12,637,592

 

 

 

12,888,547

 

 

 

12,684,482

 

Commercial real estate - income producing loans

 

 

4,076,643

 

 

 

3,940,309

 

 

 

3,809,664

 

 

 

3,798,612

 

 

 

3,988,661

 

Construction and land development loans

 

 

1,197,305

 

 

 

1,219,514

 

 

 

1,287,919

 

 

 

1,281,115

 

 

 

1,423,615

 

Residential mortgage loans

 

 

4,027,600

 

 

 

4,057,307

 

 

 

4,025,145

 

 

 

3,961,328

 

 

 

3,988,309

 

Consumer loans

 

 

1,335,162

 

 

 

1,347,705

 

 

 

1,337,826

 

 

 

1,369,845

 

 

 

1,370,520

 

Total loans

 

 

23,596,565

 

 

 

23,461,750

 

 

 

23,098,146

 

 

 

23,299,447

 

 

 

23,455,587

 

Loans held for sale

 

 

33,161

 

 

 

30,760

 

 

 

26,596

 

 

 

21,525

 

 

 

24,624

 

Securities

 

 

7,991,281

 

 

 

7,868,011

 

 

 

7,694,969

 

 

 

7,597,154

 

 

 

7,769,780

 

Short-term investments

 

 

911,313

 

 

 

604,609

 

 

 

841,458

 

 

 

939,715

 

 

 

795,231

 

Earning assets

 

 

32,532,320

 

 

 

31,965,130

 

 

 

31,661,169

 

 

 

31,857,841

 

 

 

32,045,222

 

Allowance for loan losses

 

 

(313,636

)

 

 

(313,189

)

 

 

(318,119

)

 

 

(318,882

)

 

 

(317,271

)

Goodwill and other intangible assets

 

 

995,096

 

 

 

997,790

 

 

 

888,563

 

 

 

890,677

 

 

 

892,883

 

Other assets

 

 

2,552,627

 

 

 

2,562,921

 

 

 

2,519,067

 

 

 

2,652,149

 

 

 

2,617,273

 

Total assets

 

$

35,766,407

 

 

$

35,212,652

 

 

$

34,750,680

 

 

$

35,081,785

 

 

$

35,238,107

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing deposits

 

$

10,305,303

 

 

$

10,638,785

 

 

$

10,614,874

 

 

$

10,597,461

 

 

$

10,499,476

 

Interest-bearing transaction and savings deposits

 

 

11,758,885

 

 

 

11,480,849

 

 

 

11,400,171

 

 

 

11,308,645

 

 

 

10,895,521

 

Interest-bearing public fund deposits

 

 

2,799,957

 

 

 

2,985,985

 

 

 

3,004,316

 

 

 

3,212,500

 

 

 

2,704,106

 

Time deposits

 

 

3,795,605

 

 

 

3,940,993

 

 

 

4,175,372

 

 

 

4,374,245

 

 

 

4,883,802

 

Total interest-bearing deposits

 

 

18,354,447

 

 

 

18,407,827

 

 

 

18,579,859

 

 

 

18,895,390

 

 

 

18,483,429

 

Total deposits

 

 

28,659,750

 

 

 

29,046,612

 

 

 

29,194,733

 

 

 

29,492,851

 

 

 

28,982,905

 

Short-term borrowings

 

 

1,891,520

 

 

 

1,044,927

 

 

 

542,780

 

 

 

639,015

 

 

 

1,265,944

 

Long-term debt

 

 

210,657

 

 

 

210,620

 

 

 

210,582

 

 

 

210,544

 

 

 

236,431

 

Other liabilities

 

 

530,001

 

 

 

545,074

 

 

 

523,913

 

 

 

611,739

 

 

 

578,140

 

Total liabilities

 

 

31,291,928

 

 

 

30,847,233

 

 

 

30,472,008

 

 

 

30,954,149

 

 

 

31,063,420

 

COMMON STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock net of treasury and capital surplus

 

 

1,943,187

 

 

 

1,976,208

 

 

 

2,008,987

 

 

 

2,029,122

 

 

 

2,032,599

 

Retained earnings

 

 

2,947,752

 

 

 

2,859,038

 

 

 

2,784,657

 

 

 

2,704,606

 

 

 

2,617,584

 

Accumulated other comprehensive (loss)

 

 

(416,460

)

 

 

(469,827

)

 

 

(514,972

)

 

 

(606,092

)

 

 

(475,496

)

Total common stockholders' equity

 

 

4,474,479

 

 

 

4,365,419

 

 

 

4,278,672

 

 

 

4,127,636

 

 

 

4,174,687

 

Total liabilities & stockholders' equity

 

$

35,766,407

 

 

$

35,212,652

 

 

$

34,750,680

 

 

$

35,081,785

 

 

$

35,238,107

 

CAPITAL RATIOS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tangible common equity

 

$

3,479,383

 

 

$

3,367,629

 

 

$

3,390,109

 

 

$

3,236,959

 

 

$

3,281,804

 

Tier 1 capital (g)

 

 

3,923,114

 

 

 

3,864,727

 

 

 

3,931,841

 

 

 

3,886,926

 

 

 

3,800,864

 

Common equity as a percentage of total assets

 

 

12.51

%

 

 

12.40

%

 

 

12.31

%

 

 

11.77

%

 

 

11.85

%

Tangible common equity ratio

 

 

10.01

%

 

 

9.84

%

 

 

10.01

%

 

 

9.47

%

 

 

9.56

%

Leverage (Tier 1) ratio (g)

 

 

11.46

%

 

 

11.35

%

 

 

11.55

%

 

 

11.29

%

 

 

11.03

%

Common equity tier 1 (CET1) ratio (g)

 

 

14.08

%

 

 

13.97

%

 

 

14.48

%

 

 

14.14

%

 

 

13.78

%

Tier 1 risk-based capital ratio (g)

 

 

14.08

%

 

 

13.97

%

 

 

14.48

%

 

 

14.14

%

 

 

13.78

%

Total risk-based capital ratio (g)

 

 

15.91

%

 

 

15.82

%

 

 

16.37

%

 

 

15.93

%

 

 

15.56

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(g) Estimated for most recent period-end. Regulatory capital ratios for 2024 reflect the election to use the five-year transition rules for the adoption of ASC 326, commonly referred to as Current Expected Credit Loss, or CECL.

 

 

 

11

 

 

HANCOCK WHITNEY CORPORATION

 

AVERAGE BALANCE SHEET

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

(in thousands)

 

9/30/2025

 

 

6/30/2025

 

 

9/30/2024

 

 

9/30/2025

 

 

9/30/2024

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate loans

 

$

9,646,077

 

 

$

9,687,575

 

 

$

9,631,318

 

 

$

9,655,233

 

 

$

9,758,388

 

Commercial real estate - owner occupied loans

 

 

3,195,141

 

 

 

3,040,258

 

 

 

3,092,836

 

 

 

3,078,016

 

 

 

3,086,179

 

Total commercial and industrial loans

 

 

12,841,218

 

 

 

12,727,833

 

 

 

12,724,154

 

 

 

12,733,249

 

 

 

12,844,567

 

Commercial real estate - income producing loans

 

 

4,016,842

 

 

 

3,879,443

 

 

 

4,028,195

 

 

 

3,911,615

 

 

 

4,035,934

 

Construction and land development loans

 

 

1,183,117

 

 

 

1,225,418

 

 

 

1,427,592

 

 

 

1,226,941

 

 

 

1,499,923

 

Residential mortgage loans

 

 

4,052,310

 

 

 

4,081,987

 

 

 

3,996,986

 

 

 

4,038,261

 

 

 

3,986,899

 

Consumer loans

 

 

1,332,408

 

 

 

1,334,560

 

 

 

1,375,075

 

 

 

1,339,146

 

 

 

1,391,760

 

Total loans

 

 

23,425,895

 

 

 

23,249,241

 

 

 

23,552,002

 

 

 

23,249,212

 

 

 

23,759,083

 

Loans held for sale

 

 

22,162

 

 

 

24,423

 

 

 

26,565

 

 

 

22,378

 

 

 

22,344

 

Securities (h)

 

 

8,383,771

 

 

 

8,271,777

 

 

 

8,218,896

 

 

 

8,299,542

 

 

 

8,210,192

 

Short-term investments

 

 

381,804

 

 

 

535,699

 

 

 

466,285

 

 

 

535,782

 

 

 

461,000

 

Earning assets

 

 

32,213,632

 

 

 

32,081,140

 

 

 

32,263,748

 

 

 

32,106,914

 

 

 

32,452,619

 

Allowance for loan losses

 

 

(316,542

)

 

 

(323,273

)

 

 

(317,969

)

 

 

(320,819

)

 

 

(315,229

)

Goodwill and other intangible assets

 

 

996,408

 

 

 

961,675

 

 

 

893,997

 

 

 

949,616

 

 

 

896,361

 

Other assets

 

 

1,857,711

 

 

 

1,807,734

 

 

 

1,940,610

 

 

 

1,810,405

 

 

 

1,925,971

 

Total assets

 

$

34,751,209

 

 

$

34,527,276

 

 

$

34,780,386

 

 

$

34,546,116

 

 

$

34,959,722

 

LIABILITIES AND COMMON STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing deposits

 

$

10,121,707

 

 

$

10,317,446

 

 

$

10,359,390

 

 

$

10,200,640

 

 

$

10,519,199

 

Interest-bearing transaction and savings deposits

 

 

11,662,596

 

 

 

11,341,852

 

 

 

10,905,268

 

 

 

11,403,964

 

 

 

10,812,730

 

Interest-bearing public fund deposits

 

 

2,847,336

 

 

 

2,946,187

 

 

 

2,770,592

 

 

 

2,968,184

 

 

 

2,951,764

 

Time deposits

 

 

3,860,437

 

 

 

4,044,415

 

 

 

4,904,913

 

 

 

4,057,723

 

 

 

4,905,467

 

Total interest-bearing deposits

 

 

18,370,369

 

 

 

18,332,454

 

 

 

18,580,773

 

 

 

18,429,871

 

 

 

18,669,961

 

Total deposits

 

 

28,492,076

 

 

 

28,649,900

 

 

 

28,940,163

 

 

 

28,630,511

 

 

 

29,189,160

 

Short-term borrowings

 

 

1,135,304

 

 

 

853,652

 

 

 

972,148

 

 

 

876,749

 

 

 

965,036

 

Long-term debt

 

 

210,639

 

 

 

211,145

 

 

 

236,412

 

 

 

210,783

 

 

 

236,374

 

Other liabilities

 

 

544,444

 

 

 

528,300

 

 

 

610,452

 

 

 

548,779

 

 

 

679,887

 

Common stockholders' equity

 

 

4,368,746

 

 

 

4,284,279

 

 

 

4,021,211

 

 

 

4,279,294

 

 

 

3,889,265

 

Total liabilities & stockholders' equity

 

$

34,751,209

 

 

$

34,527,276

 

 

$

34,780,386

 

 

$

34,546,116

 

 

$

34,959,722

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(h) Average securities does not include unrealized holding gains/losses on available for sale securities.

 

 

12

 

 

 

HANCOCK WHITNEY CORPORATION

 

AVERAGE BALANCE AND NET INTEREST MARGIN SUMMARY

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

9/30/2025

 

 

6/30/2025

 

 

9/30/2024

 

(dollars in millions)

 

Average
 Balance

 

 

Interest

 

 

Rate

 

 

Average
  Balance

 

 

Interest

 

 

Rate

 

 

Average
 Balance

 

 

Interest

 

 

Rate

 

AVERAGE EARNING ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans (TE) (i)

 

$

18,041.2

 

 

$

277.9

 

 

 

6.12

%

 

$

17,832.7

 

 

$

271.1

 

 

 

6.10

%

 

$

18,179.9

 

 

$

298.5

 

 

 

6.53

%

Residential mortgage loans

 

 

4,052.3

 

 

 

40.6

 

 

 

4.00

%

 

 

4,082.0

 

 

 

41.6

 

 

 

4.07

%

 

 

3,997.0

 

 

 

39.9

 

 

 

3.99

%

Consumer loans

 

 

1,332.4

 

 

 

27.7

 

 

 

8.25

%

 

 

1,334.5

 

 

 

27.8

 

 

 

8.34

%

 

 

1,375.1

 

 

 

30.6

 

 

 

8.85

%

Loan fees & late charges

 

 

—

 

 

 

(0.3

)

 

 

0.00

%

 

 

—

 

 

 

(0.6

)

 

 

0.00

%

 

 

—

 

 

 

1.9

 

 

 

0.00

%

Total loans (TE) (j) (k)

 

 

23,425.9

 

 

 

345.9

 

 

 

5.87

%

 

 

23,249.2

 

 

 

339.9

 

 

 

5.86

%

 

 

23,552.0

 

 

 

370.9

 

 

 

6.27

%

Loans held for sale

 

 

22.2

 

 

 

0.4

 

 

 

6.73

%

 

 

24.4

 

 

 

0.4

 

 

 

6.55

%

 

 

26.5

 

 

 

0.6

 

 

 

8.63

%

US Treasury and government agency securities

 

 

661.7

 

 

 

5.4

 

 

 

3.25

%

 

 

628.9

 

 

 

5.0

 

 

 

3.16

%

 

 

556.4

 

 

 

4.1

 

 

 

2.92

%

CMOs and mortgage backed securities

 

 

6,962.1

 

 

 

50.3

 

 

 

2.89

%

 

 

6,864.2

 

 

 

48.4

 

 

 

2.82

%

 

 

6,807.9

 

 

 

44.2

 

 

 

2.60

%

Municipals (TE)

 

 

742.5

 

 

 

5.5

 

 

 

2.96

%

 

 

761.2

 

 

 

5.6

 

 

 

2.95

%

 

 

831.1

 

 

 

6.2

 

 

 

2.96

%

Other securities

 

 

17.4

 

 

 

0.1

 

 

 

3.72

%

 

 

17.5

 

 

 

0.1

 

 

 

3.69

%

 

 

23.5

 

 

 

0.2

 

 

 

3.86

%

Total securities (TE) (l)

 

 

8,383.7

 

 

 

61.3

 

 

 

2.92

%

 

 

8,271.8

 

 

 

59.1

 

 

 

2.86

%

 

 

8,218.9

 

 

 

54.7

 

 

 

2.66

%

Total short-term investments

 

 

381.8

 

 

 

4.0

 

 

 

4.19

%

 

 

535.7

 

 

 

5.7

 

 

 

4.28

%

 

 

466.3

 

 

 

6.0

 

 

 

5.16

%

Average earning assets yield (TE)

 

$

32,213.6

 

 

$

411.6

 

 

 

5.08

%

 

$

32,081.1

 

 

$

405.1

 

 

 

5.06

%

 

$

32,263.7

 

 

$

432.2

 

 

 

5.34

%

INTEREST-BEARING LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing transaction and savings deposits

 

$

11,662.6

 

 

$

63.1

 

 

 

2.15

%

 

$

11,341.9

 

 

$

59.7

 

 

 

2.11

%

 

$

10,905.3

 

 

$

65.1

 

 

 

2.37

%

Time deposits

 

 

3,860.5

 

 

 

34.0

 

 

 

3.50

%

 

 

4,044.4

 

 

 

35.9

 

 

 

3.57

%

 

 

4,904.9

 

 

 

57.5

 

 

 

4.66

%

Public funds

 

 

2,847.3

 

 

 

21.0

 

 

 

2.93

%

 

 

2,946.2

 

 

 

22.1

 

 

 

3.01

%

 

 

2,770.6

 

 

 

24.6

 

 

 

3.54

%

Total interest-bearing deposits

 

 

18,370.4

 

 

 

118.1

 

 

 

2.55

%

 

 

18,332.5

 

 

 

117.7

 

 

 

2.58

%

 

 

18,580.8

 

 

 

147.2

 

 

 

3.15

%

Short-term borrowings

 

 

1,135.3

 

 

 

8.2

 

 

 

2.87

%

 

 

853.7

 

 

 

4.9

 

 

 

2.29

%

 

 

972.2

 

 

 

7.4

 

 

 

3.04

%

Long-term debt

 

 

210.6

 

 

 

3.0

 

 

 

5.66

%

 

 

211.1

 

 

 

3.0

 

 

 

5.67

%

 

 

236.4

 

 

 

3.1

 

 

 

5.18

%

Total borrowings

 

 

1,345.9

 

 

 

11.2

 

 

 

3.30

%

 

 

1,064.8

 

 

 

7.9

 

 

 

2.96

%

 

 

1,208.6

 

 

 

10.5

 

 

 

3.46

%

Total interest-bearing liabilities cost

 

 

19,716.3

 

 

 

129.3

 

 

 

2.60

%

 

 

19,397.3

 

 

 

125.6

 

 

 

2.60

%

 

 

19,789.4

 

 

 

157.7

 

 

 

3.17

%

Net interest-free funding sources

 

 

12,497.3

 

 

 

 

 

 

 

 

 

12,683.8

 

 

 

 

 

 

 

 

 

12,474.3

 

 

 

 

 

 

 

Total cost of funds

 

 

32,213.6

 

 

 

129.3

 

 

 

1.59

%

 

 

32,081.1

 

 

 

125.6

 

 

 

1.57

%

 

 

32,263.7

 

 

 

157.7

 

 

 

1.94

%

Net Interest Spread (TE)

 

 

 

 

$

282.3

 

 

 

2.48

%

 

 

 

 

$

279.5

 

 

 

2.46

%

 

 

 

 

$

274.5

 

 

 

2.17

%

Net Interest Margin (TE)

 

$

32,213.6

 

 

$

282.3

 

 

 

3.49

%

 

$

32,081.1

 

 

$

279.5

 

 

 

3.49

%

 

$

32,263.7

 

 

$

274.5

 

 

 

3.39

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(i) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

(j) Includes nonaccrual loans.

 

(k) Included in interest income is net purchase accounting accretion of $0.5 million for the three months ended September 30, 2024. There was no net purchase accounting accretion in 2025.

 

(l) Average securities does not include unrealized holding gains/losses on available for sale securities.

 

 

13

 

 

HANCOCK WHITNEY CORPORATION

 

AVERAGE BALANCE AND NET INTEREST MARGIN SUMMARY

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

 

9/30/2025

 

 

9/30/2024

 

(dollars in millions)

 

Average
 Balance

 

 

Interest

 

 

Rate

 

 

Average
 Balance

 

 

Interest

 

 

Rate

 

AVERAGE EARNING ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans (TE) (i)

 

$

17,871.8

 

 

$

816.1

 

 

 

6.10

%

 

$

18,380.4

 

 

$

895.6

 

 

 

6.51

%

Residential mortgage loans

 

 

4,038.3

 

 

 

120.8

 

 

 

3.99

%

 

 

3,986.9

 

 

 

114.5

 

 

 

3.83

%

Consumer loans

 

 

1,339.1

 

 

 

83.1

 

 

 

8.29

%

 

 

1,391.8

 

 

 

92.5

 

 

 

8.88

%

Loan fees & late charges

 

 

—

 

 

 

(1.1

)

 

 

0.00

%

 

 

—

 

 

 

4.8

 

 

 

0.00

%

Total loans (TE) (j) (k)

 

 

23,249.2

 

 

 

1,018.9

 

 

 

5.86

%

 

 

23,759.1

 

 

 

1,107.4

 

 

 

6.22

%

Loans held for sale

 

 

22.4

 

 

 

1.1

 

 

 

6.66

%

 

 

22.3

 

 

 

1.3

 

 

 

7.88

%

US Treasury and government agency securities

 

 

626.7

 

 

 

14.8

 

 

 

3.14

%

 

 

534.7

 

 

 

11.2

 

 

 

2.80

%

CMOs and mortgage backed securities

 

 

6,886.5

 

 

 

145.4

 

 

 

2.81

%

 

 

6,802.6

 

 

 

129.8

 

 

 

2.54

%

Municipals (TE)

 

 

768.7

 

 

 

17.0

 

 

 

2.96

%

 

 

849.4

 

 

 

18.9

 

 

 

2.96

%

Other securities

 

 

17.6

 

 

 

0.5

 

 

 

3.68

%

 

 

23.5

 

 

 

0.7

 

 

 

3.74

%

Total securities (TE) (l)

 

 

8,299.5

 

 

 

177.7

 

 

 

2.85

%

 

 

8,210.2

 

 

 

160.6

 

 

 

2.61

%

Total short-term investments

 

 

535.8

 

 

 

17.1

 

 

 

4.27

%

 

 

461.0

 

 

 

17.7

 

 

 

5.13

%

Average earning assets yield (TE)

 

$

32,106.9

 

 

$

1,214.8

 

 

 

5.05

%

 

$

32,452.6

 

 

$

1,287.0

 

 

 

5.30

%

INTEREST-BEARING LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing transaction and savings deposits

 

$

11,404.0

 

 

$

180.1

 

 

 

2.11

%

 

$

10,812.7

 

 

$

186.6

 

 

 

2.31

%

Time deposits

 

 

4,057.7

 

 

 

109.9

 

 

 

3.62

%

 

 

4,905.5

 

 

 

173.3

 

 

 

4.72

%

Public funds

 

 

2,968.2

 

 

 

66.4

 

 

 

2.99

%

 

 

2,951.8

 

 

 

79.4

 

 

 

3.59

%

Total interest-bearing deposits

 

 

18,429.9

 

 

 

356.4

 

 

 

2.59

%

 

 

18,670.0

 

 

 

439.3

 

 

 

3.14

%

Short-term borrowings

 

 

876.7

 

 

 

14.9

 

 

 

2.27

%

 

 

965.0

 

 

 

21.8

 

 

 

3.02

%

Long-term debt

 

 

210.8

 

 

 

9.0

 

 

 

5.72

%

 

 

236.4

 

 

 

9.2

 

 

 

5.19

%

Total borrowings

 

 

1,087.5

 

 

 

23.9

 

 

 

2.94

%

 

 

1,201.4

 

 

 

31.0

 

 

 

3.45

%

Total interest-bearing liabilities cost

 

 

19,517.4

 

 

 

380.3

 

 

 

2.61

%

 

 

19,871.4

 

 

 

470.3

 

 

 

3.16

%

Net interest-free funding sources

 

 

12,589.5

 

 

 

 

 

 

 

 

 

12,581.2

 

 

 

 

 

 

 

Total cost of funds

 

 

32,106.9

 

 

 

380.3

 

 

 

1.58

%

 

 

32,452.6

 

 

 

470.3

 

 

 

1.94

%

Net Interest Spread (TE)

 

 

 

 

$

834.5

 

 

 

2.45

%

 

 

 

 

$

816.7

 

 

 

2.13

%

Net Interest Margin (TE)

 

$

32,106.9

 

 

$

834.5

 

 

 

3.47

%

 

$

32,452.6

 

 

$

816.7

 

 

 

3.36

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(i) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

(j) Includes nonaccrual loans.

 

(k) Included in interest income is net purchase accounting accretion of $1.6 million for the nine months ended September 30, 2024. There was no net purchase accounting accretion in 2025.

 

(l) Average securities does not include unrealized holding gains/losses on available for sale securities.

 

 

 

 

14

 

 

HANCOCK WHITNEY CORPORATION

 

ASSET QUALITY INFORMATION

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

(dollars in thousands)

9/30/2025

 

6/30/2025

 

9/30/2024

 

9/30/2025

 

9/30/2024

 

Nonaccrual loans (m)

$

113,554

 

$

94,922

 

$

82,866

 

$

113,554

 

$

82,866

 

ORE and foreclosed assets

 

11,140

 

 

26,847

 

 

27,732

 

 

11,140

 

 

27,732

 

Total nonaccrual loans + ORE and foreclosed assets

$

124,694

 

$

121,769

 

$

110,598

 

$

124,694

 

$

110,598

 

Nonaccrual loans as a percentage of loans

 

0.48

%

 

0.40

%

 

0.35

%

 

0.48

%

 

0.35

%

Nonaccrual loans + ORE and foreclosed assets as a % of loans, ORE and foreclosed assets

 

0.53

%

 

0.52

%

 

0.47

%

 

0.53

%

 

0.47

%

Accruing loans 90 days past due

$

24,576

 

$

58,702

 

$

5,967

 

$

24,576

 

$

5,967

 

Accruing loans 90 days past due as a percentage of loans

 

0.10

%

 

0.25

%

 

0.03

%

 

0.10

%

 

0.03

%

Modified loans - still accruing

$

82,218

 

$

62,234

 

$

90,156

 

$

82,218

 

$

90,156

 

Modified loans - still accruing as a % of loans

 

0.35

%

 

0.27

%

 

0.38

%

 

0.35

%

 

0.38

%

PROVISION AND ALLOWANCE FOR CREDIT LOSSES:

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

313,189

 

$

318,119

 

$

316,148

 

$

318,882

 

$

307,907

 

Provision for loan losses

 

11,877

 

 

12,856

 

 

19,150

 

 

34,217

 

 

43,656

 

Charge-offs

 

(15,736

)

 

(22,328

)

 

(21,113

)

 

(51,357

)

 

(56,430

)

Recoveries

 

4,306

 

 

4,542

 

 

3,086

 

 

11,894

 

 

22,138

 

Net charge-offs

 

(11,430

)

 

(17,786

)

 

(18,027

)

 

(39,463

)

 

(34,292

)

Ending Balance

$

313,636

 

$

313,189

 

$

317,271

 

$

313,636

 

$

317,271

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

Beginning balance

$

27,100

 

$

25,031

 

$

26,079

 

$

24,053

 

$

28,894

 

Provision for losses on unfunded lending commitments

 

774

 

 

2,069

 

 

(586

)

 

3,821

 

 

(3,401

)

Ending balance

$

27,874

 

$

27,100

 

$

25,493

 

$

27,874

 

$

25,493

 

Total allowance for credit losses

$

341,510

 

$

340,289

 

$

342,764

 

$

341,510

 

$

342,764

 

Total provision for credit losses

$

12,651

 

$

14,925

 

$

18,564

 

$

38,038

 

$

40,255

 

Allowance for loan losses as a percentage of period-end loans

 

1.33

%

 

1.33

%

 

1.35

%

 

1.33

%

 

1.35

%

Allowance for credit losses as a percentage of period-end loans

 

1.45

%

 

1.45

%

 

1.46

%

 

1.45

%

 

1.46

%

Allowance for loan losses as a % of nonaccrual loans

 

276.20

%

 

329.94

%

 

382.87

%

 

276.20

%

 

382.87

%

NET CHARGE-OFF INFORMATION

 

 

 

 

 

 

 

 

 

 

Net charge-offs (recoveries):

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans

$

7,472

 

$

14,704

 

$

14,464

 

$

29,236

 

$

23,830

 

Residential mortgage loans

 

181

 

 

196

 

 

28

 

 

157

 

 

(201

)

Consumer loans

 

3,777

 

 

2,886

 

 

3,535

 

 

10,070

 

 

10,663

 

Total net charge-offs

$

11,430

 

$

17,786

 

$

18,027

 

$

39,463

 

$

34,292

 

Net charge-offs (recoveries) as a percentage of average loans:

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans

 

0.16

%

 

0.33

%

 

0.32

%

 

0.22

%

 

17.00

%

Residential mortgage loans

 

0.02

%

 

0.02

%

 

0.00

%

 

0.01

%

 

(0.01

)%

Consumer loans

 

1.12

%

 

0.87

%

 

1.02

%

 

1.01

%

 

1.02

%

Total net charge-offs as a percentage of average loans

 

0.19

%

 

0.31

%

 

0.30

%

 

0.23

%

 

0.19

%

AVERAGE LOANS

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans

$

18,041,177

 

$

17,832,694

 

$

18,179,941

 

$

17,871,805

 

$

18,380,424

 

Residential mortgage loans

 

4,052,310

 

 

4,081,987

 

 

3,996,986

 

 

4,038,261

 

 

3,986,899

 

Consumer loans

 

1,332,408

 

 

1,334,560

 

 

1,375,075

 

 

1,339,146

 

 

1,391,760

 

Total average loans

$

23,425,895

 

$

23,249,241

 

$

23,552,002

 

$

23,249,212

 

$

23,759,083

 

 

 

 

 

 

 

 

 

 

 

 

(m) Included in nonaccrual loans are nonaccruing modified loans to borrowers experiencing financial difficulties totaling $9.3 million at September 30, 2025, $13.1 million at June 30, 2025, and $5.4 million at September 30, 2024.

 

 

 

 

 

 

 

15

 

 

HANCOCK WHITNEY CORPORATION

 

ASSET QUALITY INFORMATION

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

(dollars in thousands)

9/30/2025

 

6/30/2025

 

3/31/2025

 

12/31/2024

 

9/30/2024

 

Nonaccrual loans (m)

$

113,554

 

$

94,922

 

$

104,214

 

$

97,335

 

$

82,866

 

ORE and foreclosed assets

 

11,140

 

 

26,847

 

 

26,690

 

 

27,797

 

 

27,732

 

Total nonaccrual loans + ORE and foreclosed assets

$

124,694

 

$

121,769

 

$

130,904

 

$

125,132

 

$

110,598

 

Nonaccrual loans as a percentage of loans

 

0.48

%

 

0.40

%

 

0.45

%

 

0.42

%

 

0.35

%

Nonaccrual loans + ORE and foreclosed assets as a % of loans, ORE and foreclosed assets

 

0.53

%

 

0.52

%

 

0.57

%

 

0.54

%

 

0.47

%

Accruing loans 90 days past due

$

24,576

 

$

58,702

 

$

15,593

 

$

21,852

 

$

5,967

 

Accruing loans 90 days past due as a percentage of loans

 

0.10

%

 

0.25

%

 

0.07

%

 

0.09

%

 

0.03

%

Modified loans - still accruing

$

82,218

 

$

62,234

 

$

70,617

 

$

79,324

 

$

90,156

 

Modified loans - still accruing as a % of loans

 

0.35

%

 

0.27

%

 

0.31

%

 

0.34

%

 

0.38

%

PROVISION AND ALLOWANCE FOR CREDIT LOSSES:

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

313,189

 

$

318,119

 

$

318,882

 

$

317,271

 

$

316,148

 

Provision for loan losses

 

11,877

 

 

12,856

 

 

9,484

 

 

13,352

 

 

19,150

 

Charge-offs

 

(15,736

)

 

(22,328

)

 

(13,293

)

 

(16,654

)

 

(21,113

)

Recoveries

 

4,306

 

 

4,542

 

 

3,046

 

 

4,913

 

 

3,086

 

Net charge-offs

 

(11,430

)

 

(17,786

)

 

(10,247

)

 

(11,741

)

 

(18,027

)

Ending Balance

$

313,636

 

$

313,189

 

$

318,119

 

$

318,882

 

$

317,271

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

27,100

 

$

25,031

 

$

24,053

 

$

25,493

 

$

26,079

 

Provision for losses on unfunded lending commitments

 

774

 

 

2,069

 

 

978

 

 

(1,440

)

 

(586

)

Ending balance

$

27,874

 

$

27,100

 

$

25,031

 

$

24,053

 

$

25,493

 

Total allowance for credit losses

$

341,510

 

$

340,289

 

$

343,150

 

$

342,935

 

$

342,764

 

Total provision for credit losses

$

12,651

 

$

14,925

 

$

10,462

 

$

11,912

 

$

18,564

 

Allowance for loan losses as a percentage of period-end loans

 

1.33

%

 

1.33

%

 

1.38

%

 

1.37

%

 

1.35

%

Allowance for credit losses as a percentage of period-end loans

 

1.45

%

 

1.45

%

 

1.49

%

 

1.47

%

 

1.46

%

Allowance for loan losses as a % of nonaccrual loans

 

276.20

%

 

329.94

%

 

305.26

%

 

327.61

%

 

382.87

%

NET CHARGE-OFF INFORMATION

 

 

 

 

 

 

 

 

 

 

Net charge-offs (recoveries)

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans

$

7,472

 

$

14,704

 

$

7,060

 

$

7,488

 

$

14,464

 

Residential mortgage loans

 

181

 

 

196

 

 

(220

)

 

(14

)

 

28

 

Consumer loans

 

3,777

 

 

2,886

 

 

3,407

 

 

4,267

 

 

3,535

 

Total net charge-offs

$

11,430

 

$

17,786

 

$

10,247

 

$

11,741

 

$

18,027

 

Net charge-offs (recoveries) as a percentage of average loans:

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans

 

0.16

%

 

0.33

%

 

0.16

%

 

0.17

%

 

0.32

%

Residential mortgage loans

 

0.02

%

 

0.02

%

 

(0.02

)%

 

(0.00

)%

 

0.00

%

Consumer loans

 

1.12

%

 

0.87

%

 

1.02

%

 

1.24

%

 

1.02

%

Total net charge-offs as a percentage of average loans:

 

0.19

%

 

0.31

%

 

0.18

%

 

0.20

%

 

0.30

%

AVERAGE LOANS

 

 

 

 

 

 

 

 

 

 

Commercial & real estate loans

$

18,041,177

 

$

17,832,694

 

$

17,738,216

 

$

17,915,970

 

$

18,179,941

 

Residential mortgage loans

 

4,052,310

 

 

4,081,987

 

 

3,979,689

 

 

3,967,895

 

 

3,996,986

 

Consumer loans

 

1,332,408

 

 

1,334,560

 

 

1,350,668

 

 

1,364,647

 

 

1,375,075

 

Total average loans

$

23,425,895

 

$

23,249,241

 

$

23,068,573

 

$

23,248,512

 

$

23,552,002

 

 

 

 

 

 

 

 

 

 

 

 

(m) Included in nonaccrual loans are nonaccruing modified loans to borrowers experiencing financial difficulties totaling $9.3 million at September 30, 2025, $13.1 million at June 30, 2025, $25.0 million at March 31, 2025, $20.2 million at December 31, 2024, and $5.4 million at September 30, 2024.

 

 

16

 

 

 

HANCOCK WHITNEY CORPORATION

 

Appendix A to the Earnings Release

 

Reconciliation of Non-GAAP Measure

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PRE-PROVISION NET REVENUE (TE) AND ADJUSTED PRE-PROVISION NET REVENUE (TE)

 

 

 

Three Months Ended

 

Nine Months Ended

 

(in thousands)

 

9/30/2025

 

6/30/2025

 

3/31/2025

 

12/31/2024

 

9/30/2024

 

9/30/2025

 

9/30/2024

 

Net Income (GAAP)

 

$

127,466

 

$

113,531

 

$

119,504

 

$

122,074

 

$

115,572

 

$

360,501

 

$

338,741

 

Provision for credit losses

 

 

12,651

 

 

14,925

 

 

10,462

 

 

11,912

 

 

18,564

 

 

38,038

 

 

40,255

 

Income tax expense

 

 

32,869

 

 

31,048

 

 

29,671

 

 

28,446

 

 

29,684

 

 

93,588

 

 

84,712

 

Pre-provision net revenue

 

 

172,986

 

 

159,504

 

 

159,637

 

 

162,432

 

 

163,820

 

 

492,127

 

 

463,708

 

Taxable equivalent adjustment (n)

 

 

2,571

 

 

2,496

 

 

2,806

 

 

2,735

 

 

2,693

 

 

7,873

 

 

8,351

 

Pre-provision net revenue (TE)

 

 

175,557

 

 

162,000

 

 

162,443

 

 

165,167

 

 

166,513

 

 

500,000

 

 

472,059

 

Adjustments from supplemental disclosure items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sabal Trust Company acquisition expense

 

 

—

 

 

5,911

 

 

—

 

 

—

 

 

—

 

 

5,911

 

 

—

 

FDIC special assessment

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

3,800

 

Adjusted pre-provision net revenue (TE)

 

$

175,557

 

$

167,911

 

$

162,443

 

$

165,167

 

$

166,513

 

$

505,911

 

$

475,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUE (TE), ADJUSTED REVENUE (TE) AND EFFICIENCY RATIO

 

 

 

Three Months Ended

 

Nine Months Ended

 

(in thousands)

 

9/30/2025

 

6/30/2025

 

3/31/2025

 

12/31/2024

 

9/30/2024

 

9/30/2025

 

9/30/2024

 

Net interest income

 

$

279,738

 

$

276,959

 

$

269,905

 

$

273,556

 

$

271,764

 

$

826,602

 

$

808,365

 

Noninterest income

 

 

106,001

 

 

98,524

 

 

94,791

 

 

91,209

 

 

95,895

 

 

299,316

 

 

272,920

 

Total GAAP revenue

 

 

385,739

 

 

375,483

 

 

364,696

 

 

364,765

 

 

367,659

 

 

1,125,918

 

 

1,081,285

 

Taxable equivalent adjustment (n)

 

 

2,571

 

 

2,496

 

 

2,806

 

 

2,735

 

 

2,693

 

 

7,873

 

 

8,351

 

Total revenue (TE)

 

$

388,310

 

$

377,979

 

$

367,502

 

$

367,500

 

$

370,352

 

 

1,133,791

 

 

1,089,636

 

GAAP Noninterest expense

 

$

212,753

 

$

215,979

 

$

205,059

 

$

202,333

 

$

203,839

 

$

633,791

 

$

617,577

 

Amortization of intangibles

 

 

(2,694

)

 

(2,524

)

 

(2,113

)

 

(2,206

)

 

(2,292

)

 

(7,331

)

 

(7,207

)

Adjustments from supplemental disclosure items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sabal Trust Company acquisition expense

 

 

—

 

 

(5,911

)

 

—

 

 

—

 

 

—

 

 

(5,911

)

 

—

 

FDIC special assessment

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(3,800

)

Adjusted noninterest expense for efficiency

 

$

210,059

 

$

207,544

 

$

202,946

 

$

200,127

 

$

201,547

 

$

620,549

 

$

606,570

 

Efficiency ratio (o)

 

 

54.10

%

 

54.91

%

 

55.22

%

 

54.46

%

 

54.42

%

 

54.73

%

 

55.67

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(n) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%.

 

 

 

(o) The efficiency ratio is noninterest expense to total net interest income (TE) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items noted above.

 

 

17