Exhibit 99.1

For more information

Trisha Voltz Carlson, EVP, Investor Relations Manager

504.299.5208 or [email protected]

Hancock Whitney reports third quarter 2020 EPS of $.90

GULFPORT, Miss. (October 20, 2020) — Hancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the third quarter of 2020. Net income for the third quarter of 2020 was $79.4 million, or $0.90 per diluted common share (EPS), compared to a net loss of $117.1 million, or ($1.36) per diluted common share, in the second quarter of 2020. Net income for the third quarter of 2019 was $67.8 million, or $0.77 per diluted common share. The net loss for the second quarter of 2020 reflected a provision for credit losses of $306.9 million that included both a special provision related to the sale of $497 million in energy loans and an additional build in the reserve for credit losses related to COVID-19. The third quarter of 2019 included $28.8 million ($0.26 per share impact) of merger costs associated with the September 2019 acquisition of MidSouth Bancorp, Inc.

On July 21, 2020, the Company sold $497 million in energy loans that included reserve-based (RBL), midstream and nondrilling service credits. The company received proceeds of $257.5 million from the sale of these loans. All loans included in the transaction were re-classified as held for sale as of June 30, 2020, and second quarter of 2020 earnings results included a special provision for credit losses of approximately $160 million (pre-tax), or $1.47 per diluted share (21% tax rate), related to the energy loan sale.

“I am very pleased to report a return to profitability this quarter,” said John M. Hairston, President and CEO. “The de-risking strategies implemented in the first half of 2020 positioned us for better results moving forward, as exhibited by performance in the third quarter. While still impacted by the pandemic-related economy, we reported solid results and began rebuilding capital.  Pre-provision net revenue was up 7% linked quarter, provision for credit losses returned to a more normalized level and our CET1 ratio improved to 10.29%. Last quarter we stated an expectation that our actions through the first half of 2020 would provide a stronger reserve with less risk in the balance sheet, which in turn should lead to improved returns for our shareholders; 3Q20 results reflect the execution of our strategy.”  

Third Quarter 2020 Highlights

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Loans

Loans totaled $22.2 billion at September 30, 2020, down $388 million, or 2%, linked-quarter. Average loans totaled $22.4 billion for the third quarter of 2020, down 2% linked-quarter, mainly reflecting last quarter’s energy loan sale.

The contraction in loan balances in the third quarter was related to limited demand throughout our footprint in light of the current economic environment as a result of COVID-19. The decline was driven by decreases in mortgage, indirect and consumer loans, as well as a reduction of $14 million in energy loans and another $153 million in payoffs, paydowns and charge-offs of nonenergy commercial loans.

Management’s expectations for loan growth through the remainder of the year are tempered given today’s economic environment and continued contraction in total loans is expected for the fourth quarter of 2020.  

Deposits

Total deposits at September 30, 2020 were $27.0 billion, down $292 million, or 1%, from June 30, 2020. A decrease of $631 million in time deposits was the largest driver of the decrease, partly offset by increases in DDAs and interest-bearing transaction and savings accounts.

DDAs totaled $11.9 billion at September 30, 2020, up $122 million, or 1%, from June 30, 2020 and comprised 44% of total period-end deposits at September 30, 2020. Interest-bearing transaction and savings deposits totaled $10.0 billion at the end of the third quarter of 2020, up $367 million, or 4%, linked-quarter. Compared to June 30, 2020, time deposits of $2.0 billion were down $631 million, or 24%, split between decreases in both retail and brokered CDs. Interest-bearing public fund deposits decreased $150 million, or 5%, to $3.2 billion.

Average deposits for the third quarter of 2020 were $26.8 billion, up $61.2 million, or less than 1%, linked-quarter.

Asset Quality

The total allowance for credit losses (ACL) was $480.2 million at September 30, 2020, virtually unchanged from June 30, 2020. During the third quarter of 2020, the company recorded a total provision for credit losses of $25.0 million, compared to $306.9 million in the second quarter of 2020. The second quarter of 2020 provision for credit losses included approximately $146.8 million related to the COVID-19 recessionary environment, with an additional $160.1 million provision related to the previously mentioned energy loan sale.

Net charge-offs totaled $24.0 million in the third quarter of 2020, or 0.43% of average total loans on an annualized basis, down from $302.7 million, or 5.30% of average total loans in the second quarter of 2020. Included in this quarter’s charge-offs are $17.3 million of healthcare-dependent credits, $6.0 million of various other commercial credits and no energy-related charge-offs. Included in the second quarter’s total were $243 million of charge-offs related to the energy loan sale and $26 million in other energy-related charge-offs.

The ratio of ACL to period-end loans was 2.16% (2.40% excluding PPP loans) at September 30, 2020, compared to 2.12% (2.36% excluding PPP loans) at June 30, 2020. The allowance for credits in the remaining energy portfolio totaled $21.4 million, or 6.3% of funded energy loans, at September 30, 2020. The allowance for credits in the nonenergy portfolio totaled $458.8 million, or 2.09% of funded nonenergy loans (2.33% excluding PPP loans), at September 30, 2020.

Beginning in the first quarter of 2020, the company began offering loan deferrals to customers impacted by COVID-19. Deferrals peaked in May 2020 with 9,252 notes totaling $3.6 billion of outstandings. Deferrals began expiring

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in late June 2020, and as of September 30, 2020 there were 761 notes deferred, totaling $284 million, compared to 6,954 notes deferred, totaling $2.7 billion as of June 30, 2020.

Nonperforming assets (NPAs) totaled $192.2 million at September 30, 2020, down $20.3 million, or 10%, from June 30, 2020. During the third quarter of 2020, total nonperforming loans decreased $13.3 million, or 7%, while ORE and foreclosed assets declined $7.1 million, or 38%. Nonperforming assets as a percent of total loans, ORE and other foreclosed assets was 0.86% at September 30, 2020, down 8 bps from June 30, 2020.

Net Interest Income and Net Interest Margin (NIM)

Net interest income (TE) for the third quarter of 2020 was $238.4 million, down $2.7 million from the second quarter of 2020. The decrease from 2Q20 reflects a variety of factors including a lower level of purchase accounting accretion, lower levels of earning assets and yields, partially offset by growth in DDAs and aggressive deposit pricing.

The net interest margin (TE) was 3.23% for the third quarter of 2020, unchanged linked-quarter. Headwinds from the impact of lower earning asset yields and a full quarter’s impact of the subordinated debt issued in June of 2020, were offset by a reduction in excess liquidity and a lower cost of deposits.

Average earning assets were $29.4 billion for the third quarter of 2020, down $602 million, or 2%, from the second quarter of 2020.

Noninterest Income

Noninterest income totaled $83.7 million for the third quarter of 2020, up $9.8 million, or 13%, from the second quarter of 2020. Improvement was noted across all fee categories as the economy began to re-open and consumer activity rebounded, though not to pre-pandemic levels. Low interest rates supported continued mortgage refinance activity, and certain specialty income categories contributed to growth in the third quarter. Similar levels of mortgage and specialty income are not expected in the fourth quarter of 2020.

Increased activity was noted in service charges on deposits, up $2.9 million, or 19%, from the second quarter of 2020, bank card and ATM fees, up $1.3 million, or 8%, from the second quarter and investment and annuity income and insurance fees, up $0.6 million, or 12%, linked-quarter.

Fees from secondary mortgage operations totaled $12.9 million for the third quarter of 2020, up $3.1 million, or 31% linked-quarter.

Other noninterest income totaled $14.8 million, up $1.7 million, or 13%, from the second quarter of 2020. The increase in other noninterest income is primarily due to increases in specialty income (BOLI).

Noninterest Expense & Taxes

Noninterest expense totaled $195.8 million, down $0.8 million, or less than 1% linked-quarter. A focus on expense control in today’s environment and offsetting nonrecurring items led to a slightly lower level of expense linked-quarter.

Total personnel expense was $117.9 million in the third quarter of 2020, down $2.6 million, or 2%, from the second quarter of 2020. The decrease was mostly related to lower incentive pay and payroll taxes, partly offset by severance related to closures of 12 branches in Louisiana and Mississippi scheduled for late October 2020 and the closure of two trust offices in New York and New Jersey. Personnel expense is expected to be lower in the fourth quarter related to these items and the overall lower level of FTE headcount (down 138) compared to June 30, 2020.

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Occupancy and equipment expense totaled $18.5 million in the third quarter of 2020, up $0.2 million, or 1%, from the second quarter of 2020. Amortization of intangibles totaled $4.8 million for the third quarter of 2020, down $0.4 million, or 7%, linked-quarter. Gains on sales of ORE and other foreclosed assets (OFA) exceeded expenses by $0.5 million in both the second and third quarters of 2020.

Other operating expense totaled $55.1 million in the third quarter of 2020, up $2.0 million, or 4%, from the second quarter of 2020, primarily attributed to professional services related to the SBA’s PPP forgiveness program.

The effective income tax rate for the third quarter of 2020 was 19%. The company expects the tax rate to be lower in the fourth quarter of 2020 as tax strategies are evaluated and implemented. The effective income tax rate continues to be less than the statutory rate due primarily to tax-exempt income and tax credits.

Capital

Common stockholders’ equity at September 30, 2020 totaled $3.4 billion, up $59.5 million, or 2%, from June 30, 2020. The tangible common equity (TCE) ratio was 7.53%, up 20 bps from June 30, 2020, as the company began rebuilding capital after de-risking strategies were implemented in the first half of 2020. A full reconciliation of the quarterly change is included in our slide presentation. The company remains well capitalized, with both bank and holding company capital levels in excess of required regulatory minimums. The company’s CET1 ratio is estimated to be 10.29% at September 30, 2020. The company intends to pay its next quarterly dividend and is in consultation with its examiners, while the Board reviews the dividend payout policy quarterly.

Conference Call and Slide Presentation

Management will host a conference call for analysts and investors at 4:00 p.m. Central Time on Tuesday, October 20, 2020 to review the results. A live listen-only webcast of the call will be available under the Investor Relations section of Hancock Whitney’s website at www.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 (877) 564-1219 or (973) 638-3429.  

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 27, 2020 by dialing (855) 859-2056 or (404) 537-3406, passcode 6553289.  

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; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks. 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.

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Consistent with Securities and Exchange Commission Industry Guide 3, 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.

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. These non-GAAP measures may reference the concept “operating.” The company uses the term “operating” to describe a financial measure that excludes income or expense considered to be nonoperating in nature. Items identified as nonoperating are those that, when excluded from a reported financial measure, provide management or the reader with a measure that may be more indicative of forward-looking trends in the company’s business.

Important Cautionary Statement about Forward-Looking Statements

This news 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 regarding our performance and financial condition, balance sheet and revenue growth, the provision for credit losses, loan growth expectations, management’s predictions about charge-offs for loans, including energy-related credits, the impact of significant decreases in oil and gas prices on our energy portfolio, the impact of COVID-19 on the economy and our operations, the adequacy of our enterprise risk management framework, the impact of the MidSouth acquisition, or future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, success of revenue-generating initiatives, 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 reporting, the financial impact of regulatory requirements and tax reform legislation (including potential future legislation enacted as a result of the upcoming 2020 election), the impact of the referenced rate reform, deposit trends, credit quality trends, the impact of PPP loans on our results, changes in interest rates, net interest margin trends, future expense levels, future profitability, improvements in expense to revenue (efficiency) ratio, purchase accounting impacts, accretion levels and expected returns.

Given the many unknowns and risks being heavily weighted to the downside, our forward-looking statements are subject to the risk that conditions will be substantially different than we are currently expecting. If efforts to contain COVID-19 are unsuccessful and restrictions on movement last into the fourth quarter or beyond, the recession would be much longer and much more severe. Ineffective fiscal stimulus, or an extended delay in implementing it, are also major downside risks. The deeper the recession is, and the longer it lasts, the more it will damage consumer fundamentals and sentiment. This could both prolong the recession, and/or make any recovery weaker. Similarly, the recession could damage business fundamentals, and an extended global recession due to COVID-19 would weaken the U.S. recovery. As a result, the outbreak and its consequences, including responsive measures to manage it, have had and are likely to continue to have an adverse effect, possibly materially, on our business and financial performance by adversely affecting, possibly materially, the demand and profitability of our products and services, the valuation of assets and our ability to meet the needs of our customers.

In addition, 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

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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, 2019, in Part II, “Item 1A. Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and in other periodic reports that we file with the SEC.

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(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 nonoperating items.

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

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(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 nonoperating items.

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

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

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