Hancock Whitney Corporation reports developments tied to its regional banking franchise, financial performance and capital returns. The company is the parent of Hancock Whitney Bank, a full-service institution serving communities across the greater Gulf South through offices and financial centers in Mississippi, Alabama, Florida, Louisiana and Texas, with loan and deposit production offices in the Nashville and Atlanta metropolitan areas.
Recurring news includes quarterly earnings, loan and deposit trends, fee income from service charges and card activity, capital ratios, securities portfolio actions, dividend declarations and leadership changes. Company updates also describe traditional and online banking, commercial and small business banking, private banking, trust and investment services, healthcare banking and mortgage services.
Hancock Whitney (Nasdaq: HWC) reported Q2 2024 earnings of $114.6 million, or $1.31 per diluted share, up from $108.6 million, or $1.24 per share in Q1 2024. Key highlights include:
- Net interest margin increased to 3.37%, up 5 bps from Q1
- Loans decreased by $59.3 million, or 1% linked quarter annualized (LQA)
- Deposits decreased by $575.2 million, or 8% LQA
- Efficiency ratio improved to 56.18%, down 26 bps linked-quarter
- CET1 ratio estimated at 13.25%, up 60 bps linked-quarter
The company maintained a solid allowance for credit losses (ACL) coverage of 1.43% and resumed share buybacks during the quarter. Management expects 2024 period-end loan and deposit levels to be flat to slightly down from year-end 2023.
Hancock Whitney (Nasdaq: HWC) will release its second quarter 2024 financial results on Tuesday, July 16, 2024, after the market closes. The company's management will host a conference call for analysts and investors at 3:30 p.m. Central Time the same day to discuss the results.
The call will be webcast live on the Investor Relations section of Hancock Whitney's website. Participants can join the Q&A session by dialing specific numbers provided in the PR. Additionally, an audio archive of the call will be available on the company's website, and a replay can be accessed by phone through July 23, 2024.
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