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Segment Reporting
3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting

12. Segment Reporting

The Company’s reportable operating segments consist of the Hancock segment, which coincides generally with the Company’s Hancock Bank subsidiary, and the Whitney segment, which coincides generally with its Whitney Bank subsidiary. Each of the bank segments offers commercial, consumer and mortgage loans and deposit services as well as certain other services, such as trust and treasury management services. Although the bank segments offer the same products and services, they are managed separately due to different pricing, product demand, and consumer markets. On March 15, 2012, Whitney Bank transferred the assets and liabilities of its operations in Florida, Alabama and Mississippi to Hancock Bank and retained its operations in Louisiana and Texas. In addition, the “Other” column includes activities of other consolidated subsidiaries which do not constitute reportable segments under the quantitative and aggregation accounting guidelines. These subsidiaries provide investment services, insurance agency services, insurance underwriting and various other services to third parties.

 

     Three Months Ended March 31, 2013        
     Hancock     Whitney     Other     Eliminations     Consolidated  

Interest income

   $ 62,813      $ 117,799      $ 5,867      $ (1,207   $ 185,272   

Interest expense

     (4,943     (5,157     (2,249     1,092      $ (11,257
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     57,870        112,642        3,618        (115     174,015   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Provision for loan losses

     (5,422     (2,980     (1,176     —          (9,578

Noninterest income

     18,411        30,794        10,995        (13     60,187   

Depreciation and amortization

     (3,698     (3,981     (282     —          (7,961

Other noninterest expense

     (52,975     (86,863     (11,816     13        (151,641
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes

     14,186        49,612        1,339        (115     65,022   

Income tax expense

     2,690        12,943        813        —          16,446   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 11,496      $ 36,669      $ 526      $ (115   $ 48,576   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Goodwill

   $ 94,130      $ 527,063      $ 4,482      $ —        $ 625,675   

Total assets

   $ 6,380,941      $ 12,696,705      $ 2,884,581      $ (2,898,104   $ 19,064,123   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest income from affiliates

   $ 992      $ 215      $ —        $ (1,207   $ —     

Total interest income from external customers

   $ 61,821      $ 117,584      $ 5,867      $ —        $ 185,272   

 

     Three Months Ended March 31, 2012        
     Hancock     Whitney     Other     Eliminations     Consolidated  

Interest income

   $ 53,243      $ 133,749      $ 5,000      $ (276   $ 191,716   

Interest expense

     (6,540     (7,846     (1,203     161        (15,428
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     46,703        125,903        3,797        (115     176,288   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Provision for loan losses

     2,165        (13,641     1,461        —          (10,015

Noninterest income

     18,816        33,691        8,989        (2     61,494   

Depreciation and amortization

     (3,287     (5,185     (223     —          (8,695

Other noninterest expense

     (51,878     (134,113     (10,779     2        (196,768

Securitites transactions

     4        1        7        —          12   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes

     12,523        6,656        3,252        (115     22,316   

Income tax expense

     535        1,515        1,771        —          3,821   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 11,988      $ 5,141      $ 1,481      $ (115   $ 18,495   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Goodwill

   $ 94,130      $ 548,604      $ 4,482      $ —        $ 647,216   

Total assets

   $ 6,331,361      $ 12,751,548      $ 2,683,298      $ (2,475,110   $ 19,291,097   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest income from affiliates

   $ 908      $ —        $ —        $ (908   $ —     

Total interest income from external customers

   $ 52,335      $ 133,749      $ 5,000      $ 632      $ 191,716