EX-99.1 2 ex991.htm EXHIBIT 99.1 Exhibit 99.1
Exhibit 99.1 
Whitney Holding Corporation
Gulf South Bank Conference
May 1, 2007
John C. Hope III, President & Chief Operating Officer
Thomas L. Callicutt, Jr., EVP and CFO
 
-1-
 
Welcome Back to New Orleans
 
-2-
 
Thomas L. Callicutt, Jr.
Chief Financial Officer
 
-3-
 
Forward-Looking Statements
     This presentation may include forward-looking statements containing
expectations about future conditions and descriptions of future plans
and strategies.  Whitney's ability to accurately predict the effects of
future plans or strategies is inherently limited such that actual results
and performance could differ materially from those set forth in the
forward-looking statements.  Factors that could cause actual results to
differ from those expressed in the forward-looking statements are
available in Whitney’s filings with the Securities and Exchange
Commission.  Whitney does not intend, and undertakes no obligation,
to update or revise any forward-looking statements, whether as a
result of differences in actual results, changes in assumptions or
changes in other factors affecting such statements.
 
-4-
 
A Growing, Diversified Company
123-year old name started in New Orleans
Weathered many types of storms
Corporate philosophy:
Soundness
Profitability                                                                                
Growth

In that order of priority
Over 150 locations across 5 states
Focus on Relationship Banking
“It Takes a Whitney Banker”
 
-5-
 
A Look Back at 2006
•
2006 was a year to
return to more normal
operations
•
Normal has a new
meaning post storms
•
Reported record
earnings in 2006
–
$145 million net income
–
41% higher than previous
record earnings in 2005
–
$2.20 per diluted share
 
-6-
 
1Q’07 Earnings
•
Net income $37 million
•
Earnings per share (diluted) $.55
•
Signature merger closed
March 2, 2007
–
Balances at merger:
•
$280MM in assets
•
$220MM in loans
•
$210MM in deposits
•
Linked-quarter organic loan growth
flat from 4Q06
–
Growth in Houston, Alabama, Louisiana
–
Florida markets down reflecting real estate
market trends
•
Anticipated seasonal and post storm
reduction in deposits
 
 
-7-
 
Source: Louisiana Recovery Authority
http://www.rememberrebirth.org/ritadocs/Ritadata091906update.pdf
Additional Government Funds
•
Louisiana Recovery Authority
–
$10.4B available for Louisiana Community Development
Block Grants
•
$8.1B available through the Road Home Program
•
$350MM allocated to businesses
•
$2.0B allocated for infrastructure rebuilding/repair
–
$1.5B available for Hazard Mitigation Grant Program
•
$1.2B available through the Road Home Program
•
$330MM allocated for infrastructure and hazard mitigation
 
-8-
 
NIM 5.08%
–
Return to a more normal mix of
deposits
•
Shift in funding mix from DDA to higher
cost deposits
•
DDA 33% of total deposits at 1Q07
–
Earning asset mix
–
Active management of loan and deposit
pricing
–
Liquidity in the deposit base
•
Issued $150MM in sub-debt in late
March 2007
1Q’07 Earnings
 
-9-
 
Fee-Based Business Growth
•
Fees up 14% from a year ago
–
Net gain on sales and other revenue from
foreclosed assets increased from 1Q06
•
Service Charges on Deposits is the
largest component of fee income
–
Deposit service charges up 9% from a year
earlier
–
Fees are “seasonal” as charges are based on
movement in interest rates and in balances
carried by customers
•
Expanded presence in fee-based
businesses
–
Trust service fees up 23% from 1Q06
–
Positioned relationship officers to attract
and service trust and wealth management
customers across all markets
 
-10-
 
Expense Levels Higher in New Operating Environment 
•
Expenses in 1Q07 increased 9% from a year earlier
–
Incremental operating costs from mergers
•
$.9MM of merger integration-related expenses from Signature
–
Additional amortization of intangibles
–
Elimination of post retirement plan
–
Insurance claim management fees
–
Initiatives implemented to reduce exposure to disasters
–
Reflect a more normal level of activity
 
-11-
 
Diversified Loan Portfolio
•
Commercial portfolio 83%
•
Consumer portfolio 17%
•
Less diversification
–
But, less credit issues
post-storms
•
No Indirect portfolio
•
No meaningful exposure to
subprime home mortgage
loans
•
Minimal Credit Card
portfolio
•
Commercial customers 
diversified by industry
•
Real Estate portfolio
diversified by geography
 
-12-
 
Working Through Nonperforming Assets Post Storms 
   
NPA
ratio:            .48%       .45%        .55%         .77%      .95%        .62%       .46%         1.03%     1.02%      .83%      .80%          .81%          .76%
Pre-storms
 
-13-
 
Loans Internally Classified as Having Above Normal Credit Risks
Pre-storms
Post-storms
1Q07
criticized
portfolio
  includes
$17MM
from
Signature
merger
 
-14-
 
Net Charge-Offs At or Below Peers
Percent Net Charge-offs to Average Loans
Note: Increase in 2Q’06 net charge-offs related to one storm-impacted commercial relationship.  Relationship
identified as impaired shortly after storms in 2005 and a substantial impairment allowance had been
established.
 
-15-
 
 
       1.24%               1.21%          1.33%           1.59%             1.48%          1.22%            .97%              1.37%          1.37%            1.18%            1.09%            1.08%            1.06%
Allowance for Loan Losses
%
Loans
Pre-storms
 
-16-
 
Sound Capital Levels
•
1Q07 Leverage ratio --- 9.02%
•
Dividend payout ratio 53% (of first quarter 2007 diluted earnings per share)
•
Dividend yield 3.7% (based on Whitney’s April 27, 2007 closing price)
 
-17-
 
John C. Hope III
President and Chief Operating Officer
 
-18-
 
Whitney Today
•
Whitney today is a good bank
•
Challenging operating environment
•
Strong balance sheet and solid capital
position
•
Operational resiliency
•
Asset quality trends are showing signs
of sustained, better than anticipated
performance post storms
•
Continuing geographic diversification
through acquisitions in high-growth
markets
 
-19-
 
 
 
Change is Needed to Ensure Continued Success
•
Now is the time to focus on the next chapter in Whitney’s
history
•
Whitney is a good bank --- with the potential to become a
GREAT BANK
•
We will evaluate current strategies resulting in new goals
and new strategies --- this may lead to change
•
Challenging times and circumstances also lead to change
 
-20-
 
An Excellent Credit Bank
•
Our core strength is understanding and
managing credit risk
•
Seasoned, well understood credit culture
•
A track record of excellent commercial loan
growth and quality
 
-21-
 
Acquisitions Are Important To Our Growth
•
Since 1994 successfully merged
20 banks 
–
Assets: $3.7B
–
Loans: $2.3B
–
Deposits: $3.4B
–
States: 5
–
Branches: 114
–
FTE: 1,450
•
Following the flow of commerce
•
Expand our footprint even wider
•
Take advantage of any opportunity
 
-22-
 
Focus On Growing Fee-Based Businesses
•
Acquisitions have added to
fee income
•
Trust - (First National
Bancshares)
•
Investment services - (Destin
Bancshares)
•
Insurance services - (Destin
Bancshares)
•
Treasury Management
 
-23-
 
 
-24-
 
The Whitney – the culture is unique;
we intend to be true to it, and, that’s what our
future should be built on
“Uniquely Ours”
 
-25-
 
Focus On The Whitney Banker
 
-26-
 
Heightened Level of Energy and Urgency
•
Success will depend on our ability to act and
react quickly and decisively
•
Post Katrina we showed an unparalleled level
of energy and urgency
•
Challenge now is to incorporate it in our
culture
 
-27-
 
It’s Time To
Kick It Up A Notch!
 
-28-
 
Whitney Holding Corporation
Gulf South Bank Conference
May 1, 2007
John C. Hope III, President & Chief Operating Officer 
Thomas L. Callicutt, Jr., EVP and CFO
 
-29-