HWC 8-K

Hancock Whitney Corp (HWC)

8-K 2024-10-15 For: 2024-10-15

View Original

Added on April 07, 2026

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Exhibit Number	Description
99.1	Press Release dated October 15, 2024 for Quarter Ended September 30, 2024.
99.2	Presentation Slides dated October 15, 2024 (furnished with the Commission as part of this Form 8-K).
104	Cover Page Interactive Data File (embedded within the inline XBRL document)


		HANCOCK WHITNEY CORPORATION


October 15, 2024	By:	/s/ Michael M. Achary
		Michael M. Achary
		Chief Financial Officer


HANCOCK WHITNEY CORPORATION
FINANCIAL HIGHLIGHTS
(Unaudited)
	Three Months Ended									Nine Months Ended
(dollars and common share data in thousands, except per share amounts)	9/30/2024			6/30/2024			9/30/2023			9/30/2024			9/30/2023
NET INCOME
Net interest income	$	271,764		$	270,430		$	269,234		$	808,365		$	828,139
Net interest income (TE) (a)		274,457			273,258			272,086			816,716			836,412
Provision for credit losses		18,564			8,723			28,498			40,255			42,151
Noninterest income		95,895			89,174			85,974			272,920			249,529
Noninterest expense		203,839			206,016			204,675			617,577			607,697
Income tax expense		29,684			30,308			24,297			84,712			85,821
Net income	$	115,572		$	114,557		$	97,738		$	338,741		$	341,999
Supplemental disclosure items - included above, pre-tax
Included in noninterest expense
FDIC special assessment	$	—		$	—		$	—		$	3,800		$	—
PERIOD-END BALANCE SHEET DATA
Loans	$	23,455,587		$	23,911,616		$	23,983,679		$	23,455,587		$	23,983,679
Securities		7,769,780			7,535,836			7,916,101			7,769,780			7,916,101
Earning assets		32,045,222			32,056,415			32,733,591			32,045,222			32,733,591
Total assets		35,238,107			35,412,291			36,298,301			35,238,107			36,298,301
Noninterest-bearing deposits		10,499,476			10,642,213			11,626,371			10,499,476			11,626,371
Total deposits		28,982,905			29,200,718			30,320,337			28,982,905			30,320,337
Common stockholders' equity		4,174,687			3,920,718			3,501,003			4,174,687			3,501,003
AVERAGE BALANCE SHEET DATA
Loans	$	23,552,002		$	23,917,361		$	23,830,724		$	23,759,083		$	23,526,808
Securities (b)		8,218,896			8,214,172			8,888,477			8,210,192			9,010,201
Earning assets		32,263,748			32,539,363			33,137,565			32,452,619			33,171,798
Total assets		34,780,386			34,998,880			35,626,927			34,959,722			35,665,505
Noninterest-bearing deposits		10,359,390			10,526,903			11,453,236			10,519,199			12,184,410
Total deposits		28,940,163			29,069,097			29,757,180			29,189,160			29,311,176
Common stockholders' equity		4,021,211			3,826,296			3,572,487			3,889,265			3,518,105
COMMON SHARE DATA
Earnings per share - diluted	$	1.33		$	1.31		$	1.12		$	3.88		$	3.92
Cash dividends per share		0.40			0.40			0.30			1.10			0.90
Book value per share (period-end)		48.47			45.40			40.64			48.47			40.64
Tangible book value per share (period-end)		38.10			35.04			30.16			38.10			30.16
Weighted average number of shares - diluted		86,560			86,765			86,437			86,650			86,368
Period-end number of shares		86,136			86,355			86,148			86,136			86,148
Market data
High sales price	$	57.78		$	49.11		$	45.15		$	57.78		$	54.38
Low sales price		45.26			41.56			35.34			41.19			31.02
Period-end closing price		51.17			47.83			36.99			51.17			36.99
Trading volume		35,017			29,308			34,506			94,834			112,391
PERFORMANCE RATIOS
Return on average assets		1.32	%		1.32	%		1.09	%		1.29	%		1.28	%
Return on average common equity		11.43	%		12.04	%		10.85	%		11.63	%		13.00	%
Return on average tangible common equity		14.70	%		15.73	%		14.53	%		15.12	%		17.51	%
Tangible common equity ratio (c)		9.56	%		8.77	%		7.34	%		9.56	%		7.34	%
Net interest margin (TE)		3.39	%		3.37	%		3.27	%		3.36	%		3.37	%
Noninterest income as a percentage of total revenue (TE)		25.89	%		24.60	%		24.01	%		25.05	%		22.98	%
Efficiency ratio (d)		54.42	%		56.18	%		56.38	%		55.67	%		55.14	%
Average loan/deposit ratio		81.38	%		82.28	%		80.08	%		81.40	%		80.27	%
Allowance for loan losses as a percentage of period-end loans		1.35	%		1.32	%		1.28	%		1.35	%		1.28	%
Allowance for credit losses as a percentage of period-end loans (e)		1.46	%		1.43	%		1.40	%		1.46	%		1.40	%
Annualized net charge-offs to average loans		0.30	%		0.12	%		0.64	%		0.19	%		0.27	%
Allowance for loan losses as a % of nonaccrual loans		382.87	%		366.54	%		507.68	%		382.87	%		507.68	%
FTE headcount		3,458			3,541			3,681			3,458			3,681
(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.


HANCOCK WHITNEY CORPORATION
QUARTERLY FINANCIAL HIGHLIGHTS
(Unaudited)
	Three Months Ended
(dollars and common share data in thousands, except per share amounts)	9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023
NET INCOME
Net interest income	$	271,764		$	270,430		$	266,171		$	269,460		$	269,234
Net interest income (TE) (a)		274,457			273,258			269,001			272,294			272,086
Provision for credit losses		18,564			8,723			12,968			16,952			28,498
Noninterest income		95,895			89,174			87,851			38,951			85,974
Noninterest expense		203,839			206,016			207,722			229,151			204,675
Income tax expense		29,684			30,308			24,720			11,705			24,297
Net income	$	115,572		$	114,557		$	108,612		$	50,603		$	97,738
Supplemental disclosure items - included above, pre-tax
Included in noninterest income
Gain on sale of parking facility	$	—		$	—		$	—		$	16,126		$	—
Loss on securities portfolio restructure		—			—			—			(65,380	)		—
Included in noninterest expense
FDIC special assessment		—			—			3,800			26,123			—
PERIOD-END BALANCE SHEET DATA
Loans	$	23,455,587		$	23,911,616		$	23,970,938		$	23,921,917		$	23,983,679
Securities		7,769,780			7,535,836			7,559,182			7,599,974			7,916,101
Earning assets		32,045,222			32,056,415			31,985,610			32,175,097			32,733,591
Total assets		35,238,107			35,412,291			35,247,119			35,578,573			36,298,301
Noninterest-bearing deposits		10,499,476			10,642,213			10,802,127			11,030,515			11,626,371
Total deposits		28,982,905			29,200,718			29,775,906			29,690,059			30,320,337
Common stockholders' equity		4,174,687			3,920,718			3,853,436			3,803,661			3,501,003
AVERAGE BALANCE SHEET DATA
Loans	$	23,552,002		$	23,917,361		$	23,810,163		$	23,795,681		$	23,830,724
Securities (b)		8,218,896			8,214,172			8,197,410			8,579,444			8,888,477
Earning assets		32,263,748			32,539,363			32,556,821			33,128,130			33,137,565
Total assets		34,780,386			34,998,880			35,101,869			35,538,300			35,626,927
Noninterest-bearing deposits		10,359,390			10,526,903			10,673,060			11,132,354			11,453,236
Total deposits		28,940,163			29,069,097			29,560,956			29,974,941			29,757,180
Common stockholders' equity		4,021,211			3,826,296			3,818,840			3,560,978			3,572,487
COMMON SHARE DATA
Earnings per share - diluted	$	1.33		$	1.31		$	1.24		$	0.58		$	1.12
Cash dividends per share		0.40			0.40			0.30			0.30			0.30
Book value per share (period-end)		48.47			45.40			44.49			44.05			40.64
Tangible book value per share (period-end)		38.10			35.04			34.12			33.63			30.16
Weighted average number of shares - diluted		86,560			86,765			86,726			86,604			86,437
Period-end number of shares		86,136			86,355			86,622			86,345			86,148
Market data
High sales price	$	57.78		$	49.11		$	49.10		$	49.65		$	45.15
Low sales price		45.26			41.56			41.19			32.16			35.34
Period-end closing price		51.17			47.83			46.04			48.59			36.99
Trading volume		35,017			29,308			30,508			38,574			34,506
PERFORMANCE RATIOS
Return on average assets		1.32	%		1.32	%		1.24	%		0.56	%		1.09	%
Return on average common equity		11.43	%		12.04	%		11.44	%		5.64	%		10.85	%
Return on average tangible common equity		14.70	%		15.73	%		14.96	%		7.55	%		14.53	%
Tangible common equity ratio (c)		9.56	%		8.77	%		8.61	%		8.37	%		7.34	%
Net interest margin (TE)		3.39	%		3.37	%		3.32	%		3.27	%		3.27	%
Noninterest income as a percentage of total revenue (TE)		25.89	%		24.60	%		24.62	%		12.51	%		24.01	%
Efficiency ratio (d)		54.42	%		56.18	%		56.44	%		55.58	%		56.38	%
Average loan/deposit ratio		81.38	%		82.28	%		80.55	%		79.39	%		80.08	%
Allowance for loan losses as a percentage of period-end loans		1.35	%		1.32	%		1.31	%		1.29	%		1.28	%
Allowance for credit losses as a percentage of period-end loans (e)		1.46	%		1.43	%		1.42	%		1.41	%		1.40	%
Annualized net charge-offs to average loans		0.30	%		0.12	%		0.15	%		0.27	%		0.64	%
Allowance for loan losses as a % of nonaccrual loans		382.87	%		366.54	%		382.21	%		521.56	%		507.68	%
FTE headcount		3,458			3,541			3,564			3,591			3,681
(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.


HANCOCK WHITNEY CORPORATION
INCOME STATEMENT
(Unaudited)

	Three Months Ended									Nine Months Ended
(dollars in thousands, except per share data)	9/30/2024			6/30/2024			9/30/2023			9/30/2024			9/30/2023
NET INCOME
Interest income	$	429,476		$	427,545		$	415,827		$	1,278,705		$	1,193,703
Interest income (TE) (f)		432,169			430,373			418,679			1,287,056			1,201,976
Interest expense		157,712			157,115			146,593			470,340			365,564
Net interest income (TE)		274,457			273,258			272,086			816,716			836,412
Provision for credit losses		18,564			8,723			28,498			40,255			42,151
Noninterest income		95,895			89,174			85,974			272,920			249,529
Noninterest expense		203,839			206,016			204,675			617,577			607,697
Income before income taxes		145,256			144,865			122,035			423,453			427,820
Income tax expense		29,684			30,308			24,297			84,712			85,821
Net income	$	115,572		$	114,557		$	97,738		$	338,741		$	341,999
Supplemental disclosure items - included above, pre-tax
Included in noninterest expense
FDIC special assessment	$	—		$	—		$	—		$	3,800		$	—
NONINTEREST INCOME
Service charges on deposit accounts	$	23,144		$	22,275		$	22,264		$	67,658		$	64,377
Trust fees		18,014			18,473			16,593			53,564			50,720
Bank card and ATM fees		21,639			21,827			20,555			64,088			62,258
Investment and annuity fees and insurance commissions		10,890			9,789			8,520			32,523			25,628
Secondary mortgage market operations		3,379			3,546			2,609			9,816			7,076
Other income		18,829			13,264			15,433			45,271			39,470
Total noninterest income	$	95,895		$	89,174		$	85,974		$	272,920		$	249,529
NONINTEREST EXPENSE
Personnel expense	$	115,771		$	118,726		$	116,266		$	355,654		$	346,453
Net occupancy and equipment expense		18,127			17,470			18,210			53,220			52,902
Other real estate and foreclosed assets (income) expense, net		(411	)		(1,099	)		(26	)		(1,706	)		(153	)
Other expense		68,060			68,530			67,412			203,202			199,611
Amortization of intangibles		2,292			2,389			2,813			7,207			8,884
Total noninterest expense	$	203,839		$	206,016		$	204,675		$	617,577		$	607,697
COMMON SHARE DATA
Earnings per share:
Basic	$	1.33		$	1.31		$	1.12		$	3.89		$	3.93
Diluted		1.33			1.31			1.12			3.88			3.92

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


HANCOCK WHITNEY CORPORATION
PERIOD-END BALANCE SHEET
(Unaudited)

(dollars in thousands)	9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023
ASSETS
Commercial non-real estate loans	$	9,588,309		$	9,847,759		$	9,926,333		$	9,957,284		$	10,075,585
Commercial real estate - owner occupied loans		3,096,173			3,094,258			3,080,192			3,093,763			3,081,327
Total commercial and industrial loans		12,684,482			12,942,017			13,006,525			13,051,047			13,156,912
Commercial real estate - income producing loans		3,988,661			4,053,812			4,042,797			3,986,943			4,027,553
Construction and land development loans		1,423,615			1,528,393			1,541,773			1,551,091			1,614,846
Residential mortgage loans		3,988,309			4,000,211			3,983,321			3,886,072			3,721,106
Consumer loans		1,370,520			1,387,183			1,396,522			1,446,764			1,463,262
Total loans		23,455,587			23,911,616			23,970,938			23,921,917			23,983,679
Loans held for sale		24,624			27,354			16,470			26,124			15,862
Securities		7,769,780			7,535,836			7,559,182			7,599,974			7,916,101
Short-term investments		795,231			581,609			439,020			627,082			817,949
Earning assets		32,045,222			32,056,415			31,985,610			32,175,097			32,733,591
Allowance for loan losses		(317,271	)		(316,148	)		(313,726	)		(307,907	)		(306,291	)
Goodwill and other intangible assets		892,883			895,175			897,564			900,090			902,762
Other assets		2,617,273			2,776,849			2,677,671			2,811,293			2,968,239
Total assets	$	35,238,107		$	35,412,291		$	35,247,119		$	35,578,573		$	36,298,301
LIABILITIES
Noninterest-bearing deposits	$	10,499,476		$	10,642,213		$	10,802,127		$	11,030,515		$	11,626,371
Interest-bearing transaction and savings deposits		10,895,521			10,813,648			10,954,231			10,659,970			10,668,241
Interest-bearing public fund deposits		2,704,106			2,921,724			3,066,270			3,143,015			2,853,236
Time deposits		4,883,802			4,823,133			4,953,278			4,856,559			5,172,489
Total interest-bearing deposits		18,483,429			18,558,505			18,973,779			18,659,544			18,693,966
Total deposits		28,982,905			29,200,718			29,775,906			29,690,059			30,320,337
Short-term borrowings		1,265,944			1,363,959			667,760			1,154,829			1,425,928
Long-term debt		236,431			236,393			236,355			236,317			236,279
Other liabilities		578,140			690,503			713,662			693,707			814,754
Total liabilities		31,063,420			31,491,573			31,393,683			31,774,912			32,797,298
COMMON STOCKHOLDERS' EQUITY
Common stock net of treasury and capital surplus		2,032,599			2,041,597			2,049,215			2,049,184			2,044,611
Retained earnings		2,617,584			2,537,057			2,457,736			2,375,604			2,351,386
Accumulated other comprehensive (loss)		(475,496	)		(657,936	)		(653,515	)		(621,127	)		(894,994	)
Total common stockholders' equity		4,174,687			3,920,718			3,853,436			3,803,661			3,501,003
Total liabilities & stockholders' equity	$	35,238,107		$	35,412,291		$	35,247,119		$	35,578,573		$	36,298,301
CAPITAL RATIOS
Tangible common equity	$	3,281,804		$	3,025,543		$	2,955,872		$	2,903,571		$	2,598,241
Tier 1 capital (g)		3,800,571			3,726,751			3,652,180			3,584,474			3,552,824
Common equity as a percentage of total assets		11.85	%		11.07	%		10.93	%		10.69	%		9.65	%
Tangible common equity ratio		9.56	%		8.77	%		8.61	%		8.37	%		7.34	%
Leverage (Tier 1) ratio (g)		11.03	%		10.71	%		10.49	%		10.10	%		10.01	%
Common equity tier 1 (CET1) ratio (g)		13.79	%		13.25	%		12.65	%		12.33	%		12.06	%
Tier 1 risk-based capital ratio (g)		13.79	%		13.25	%		12.65	%		12.33	%		12.06	%
Total risk-based capital ratio (g)		15.57	%		15.00	%		14.34	%		13.93	%		13.63	%

(g) Estimated for most recent period-end. Regulatory capital ratios 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.


HANCOCK WHITNEY CORPORATION
AVERAGE BALANCE SHEET
(Unaudited)

	Three Months Ended									Nine Months Ended
(in thousands)	9/30/2024			6/30/2024			9/30/2023			9/30/2024			9/30/2023
ASSETS
Commercial non-real estate loans	$	9,631,318		$	9,839,115		$	10,057,941		$	9,758,388		$	9,984,957
Commercial real estate - owner occupied loans		3,092,836			3,083,561			3,060,659			3,086,179			3,068,259
Total commercial and industrial loans		12,724,154			12,922,676			13,118,600			12,844,567			13,053,216
Commercial real estate - income producing loans		4,028,195			4,090,000			3,822,711			4,035,934			3,756,906
Construction and land development loans		1,427,592			1,519,879			1,737,658			1,499,923			1,748,508
Residential mortgage loans		3,996,986			4,000,570			3,669,922			3,986,899			3,452,799
Consumer loans		1,375,075			1,384,236			1,481,833			1,391,760			1,515,379
Total loans		23,552,002			23,917,361			23,830,724			23,759,083			23,526,808
Loans held for sale		26,565			24,980			43,390			22,344			30,563
Securities (h)		8,218,896			8,214,172			8,888,477			8,210,192			9,010,201
Short-term investments		466,285			382,850			374,974			461,000			604,226
Earning assets		32,263,748			32,539,363			33,137,565			32,452,619			33,171,798
Allowance for loan losses		(317,969	)		(316,039	)		(315,371	)		(315,229	)		(312,081	)
Goodwill and other intangible assets		893,997			896,330			904,127			896,361			907,037
Other assets		1,940,610			1,879,226			1,900,606			1,925,971			1,898,751
Total assets	$	34,780,386		$	34,998,880		$	35,626,927		$	34,959,722		$	35,665,505
LIABILITIES AND COMMON STOCKHOLDERS' EQUITY
Noninterest-bearing deposits	$	10,359,390		$	10,526,903		$	11,453,236		$	10,519,199		$	12,184,410
Interest-bearing transaction and savings deposits		10,905,268			10,728,709			10,583,224			10,812,730			10,570,452
Interest-bearing public fund deposits		2,770,592			2,967,284			2,851,965			2,951,764			2,996,975
Time deposits		4,904,913			4,846,201			4,868,755			4,905,467			3,559,339
Total interest-bearing deposits		18,580,773			18,542,194			18,303,944			18,669,961			17,126,766
Total deposits		28,940,163			29,069,097			29,757,180			29,189,160			29,311,176
Short-term borrowings		972,148			1,138,893			1,311,049			965,036			1,929,204
Long-term debt		236,412			236,374			236,260			236,374			240,099
Other liabilities		610,452			728,220			749,951			679,887			666,921
Common stockholders' equity		4,021,211			3,826,296			3,572,487			3,889,265			3,518,105
Total liabilities & stockholders' equity	$	34,780,386		$	34,998,880		$	35,626,927		$	34,959,722		$	35,665,505

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


HANCOCK WHITNEY CORPORATION
AVERAGE BALANCE AND NET INTEREST MARGIN SUMMARY
(Unaudited)

	Three Months Ended
	9/30/2024							6/30/2024							9/30/2023
(dollars in millions)	Average Balance		Interest		Rate			Average Balance		Interest		Rate			Average Balance		Interest		Rate
AVERAGE EARNING ASSETS
Commercial & real estate loans (TE) (i)	$	18,179.9	$	298.5		6.53	%	$	18,532.6	$	301.4		6.54	%	$	18,679.0	$	294.1		6.25	%
Residential mortgage loans		3,997.0		39.9		3.99	%		4,000.6		37.7		3.77	%		3,669.9		33.7		3.67	%
Consumer loans		1,375.1		30.6		8.85	%		1,384.2		30.6		8.90	%		1,481.8		32.2		8.61	%
Loan fees & late charges		—		1.9		0.00	%		—		2.0		0.00	%		—		0.3		0.00	%
Total loans (TE) (j) (k)		23,552.0		370.9		6.27	%		23,917.4		371.7		6.24	%		23,830.7		360.3		6.01	%
Loans held for sale		26.5		0.6		8.63	%		25.0		0.4		7.06	%		43.4		0.8		7.30	%
US Treasury and government agency securities		556.4		4.1		2.92	%		531.9		3.7		2.80	%		535.3		3.4		2.52	%
CMOs and mortgage backed securities		6,807.9		44.2		2.60	%		6,807.4		43.2		2.54	%		7,450.5		42.7		2.29	%
Municipals (TE)		831.1		6.2		2.96	%		851.4		6.3		2.96	%		879.2		6.5		2.98	%
Other securities		23.5		0.2		3.86	%		23.5		0.2		3.86	%		23.5		0.2		3.51	%
Total securities (TE) (l)		8,218.9		54.7		2.66	%		8,214.2		53.4		2.60	%		8,888.5		52.8		2.37	%
Total short-term investments		466.3		6.0		5.16	%		382.8		4.9		5.14	%		375.0		4.8		5.08	%
Average earning assets yield (TE)	$	32,263.7	$	432.2		5.34	%	$	32,539.4	$	430.4		5.31	%	$	33,137.6	$	418.7		5.02	%
INTEREST-BEARING LIABILITIES
Interest-bearing transaction and savings deposits	$	10,905.3	$	65.1		2.37	%	$	10,728.7	$	61.4		2.30	%	$	10,583.2	$	51.4		1.93	%
Time deposits		4,904.9		57.5		4.66	%		4,846.2		56.8		4.71	%		4,868.7		53.8		4.38	%
Public funds		2,770.6		24.6		3.54	%		2,967.3		26.4		3.58	%		2,852.0		25.6		3.57	%
Total interest-bearing deposits		18,580.8		147.2		3.15	%		18,542.2		144.6		3.14	%		18,303.9		130.8		2.84	%
Short-term borrowings		972.2		7.4		3.04	%		1,138.9		9.4		3.33	%		1,311.0		12.7		3.85	%
Long-term debt		236.4		3.1		5.18	%		236.4		3.1		5.19	%		236.3		3.1		5.19	%
Total borrowings		1,208.6		10.5		3.46	%		1,375.3		12.5		3.65	%		1,547.3		15.8		4.06	%
Total interest-bearing liabilities cost		19,789.4		157.7		3.17	%		19,917.5		157.1		3.17	%		19,851.2		146.6		2.93	%
Net interest-free funding sources		12,474.3							12,621.9							13,286.4
Total cost of funds		32,263.7		157.7		1.94	%		32,539.4		157.1		1.94	%		33,137.6		146.6		1.76	%
Net Interest Spread (TE)			$	274.5		2.17	%			$	273.3		2.14	%			$	272.1		2.09	%
Net Interest Margin (TE)	$	32,263.7	$	274.5		3.39	%	$	32,539.4	$	273.3		3.37	%	$	33,137.6	$	272.1		3.27	%

(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, $0.8 million and $0.6 million for the three months ended September 30, 2024, June 30, 2024, and September 30, 2023, respectively.
(l) Average securities does not include unrealized holding gains/losses on available for sale securities.


HANCOCK WHITNEY CORPORATION
ASSET QUALITY INFORMATION
(Unaudited)

	Three Months Ended									Nine Months Ended
(dollars in thousands)	9/30/2024			6/30/2024			9/30/2023			9/30/2024			9/30/2023
Nonaccrual loans (m)	$	82,866		$	86,253		$	60,331		$	82,866		$	60,331
ORE and foreclosed assets		27,732			2,114			4,527			27,732			4,527
Total nonaccrual loans + ORE and foreclosed assets	$	110,598		$	88,367		$	64,858		$	110,598		$	64,858
Nonaccrual loans as a percentage of loans		0.35	%		0.36	%		0.25	%		0.35	%		0.25	%
Nonaccrual loans + ORE and foreclosed assets as a % of loans, ORE and foreclosed assets		0.47	%		0.37	%		0.27	%		0.47	%		0.27	%
Accruing loans 90 days past due	$	5,967		$	6,069		$	24,170		$	5,967		$	24,170
Accruing loans 90 days past due as a percentage of loans		0.03	%		0.03	%		0.10	%		0.03	%		0.10	%
Modified loans - still accruing	$	90,156		$	57,422		$	28,849		$	90,156		$	28,849
Modified loans - still accruing as a % of loans		0.38	%		0.24	%		0.12	%		0.38	%		0.12	%
PROVISION AND ALLOWANCE FOR CREDIT LOSSES:
Allowance for loan losses:
Beginning balance	$	316,148		$	313,726		$	314,496		$	307,907		$	307,789
Provision for loan losses		19,150			9,707			30,045			43,656			45,847
Charge-offs		(21,113	)		(11,951	)		(41,234	)		(56,430	)		(55,822	)
Recoveries		3,086			4,666			2,984			22,138			8,477
Net charge-offs		(18,027	)		(7,285	)		(38,250	)		(34,292	)		(47,345	)
Ending Balance	$	317,271		$	316,148		$	306,291		$	317,271		$	306,291
Reserve for unfunded lending commitments:
Beginning balance	$	26,079		$	27,063		$	31,160		$	28,894		$	33,309
Provision for losses on unfunded lending commitments		(586	)		(984	)		(1,547	)		(3,401	)		(3,696	)
Ending balance	$	25,493		$	26,079		$	29,613		$	25,493		$	29,613
Total allowance for credit losses	$	342,764		$	342,227		$	335,904		$	342,764		$	335,904
Total provision for credit losses	$	18,564		$	8,723		$	28,498		$	40,255		$	42,151
Allowance for loan losses as a percentage of period-end loans		1.35	%		1.32	%		1.28	%		1.35	%		1.28	%
Allowance for credit losses as a percentage of period-end loans		1.46	%		1.43	%		1.40	%		1.46	%		1.40	%
Allowance for loan losses as a % of nonaccrual loans		382.87	%		366.54	%		507.68	%		382.87	%		507.68	%
NET CHARGE-OFF INFORMATION
Net charge-offs (recoveries):
Commercial & real estate loans	$	14,464		$	4,112		$	35,506		$	23,830		$	40,094
Residential mortgage loans		28			(83	)		(383	)		(201	)		(835	)
Consumer loans		3,535			3,256			3,127			10,663			8,086
Total net charge-offs	$	18,027		$	7,285		$	38,250		$	34,292		$	47,345
Net charge-offs (recoveries) as a percentage of average loans:
Commercial & real estate loans		0.32	%		0.09	%		0.75	%		0.17	%		0.29	%
Residential mortgage loans		0.00	%		(0.01	)%		(0.04	)%		(0.01	)%		(0.03	)%
Consumer loans		1.02	%		0.95	%		0.84	%		1.02	%		0.71	%
Total net charge-offs as a percentage of average loans		0.30	%		0.12	%		0.64	%		0.19	%		0.27	%
AVERAGE LOANS
Commercial & real estate loans	$	18,179,941		$	18,532,555		$	18,678,969		$	18,380,424		$	18,558,630
Residential mortgage loans		3,996,986			4,000,570			3,669,922			3,986,899			3,452,799
Consumer loans		1,375,075			1,384,236			1,481,833			1,391,760			1,515,379
Total average loans	$	23,552,002		$	23,917,361		$	23,830,724		$	23,759,083		$	23,526,808

(m) Included in nonaccrual loans are nonaccruing modified loans to borrowers experiencing financial difficulties totaling $5.4 million at September 30, 2024, $5.3 million at June 30, 2024, and less than $0.1 million at September 30, 2023.


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)	9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023			9/30/2024			9/30/2023
Net Income (GAAP)	$	115,572		$	114,557		$	108,612		$	50,603		$	97,738		$	338,741		$	341,999
Provision for credit losses		18,564			8,723			12,968			16,952			28,498			40,255			42,151
Income tax expense		29,684			30,308			24,720			11,705			24,297			84,712			85,821
Pre-provision net revenue		163,820			153,588			146,300			79,260			150,533			463,708			469,971
Taxable equivalent adjustment (n)		2,693			2,828			2,830			2,834			2,852			8,351			8,273
Pre-provision net revenue (TE)		166,513			156,416			149,130			82,094			153,385			472,059			478,244
Adjustments from supplemental disclosure items
Gain on sale of parking facility		—			—			—			(16,126	)		—			—			—
Loss on securities portfolio restructure		—			—			—			65,380			—			—			—
FDIC special assessment		—			—			3,800			26,123			—			3,800			—
Adjusted pre-provision net revenue (TE)	$	166,513		$	156,416		$	152,930		$	157,471		$	153,385		$	475,859		$	478,244

REVENUE (TE), ADJUSTED REVENUE (TE) AND EFFICIENCY RATIO
	Three Months Ended															Nine Months Ended
(in thousands)	9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023			9/30/2024			9/30/2023
Net interest income	$	271,764		$	270,430		$	266,171		$	269,460		$	269,234		$	808,365		$	828,139
Noninterest income		95,895			89,174			87,851			38,951			85,974			272,920			249,529
Total GAAP revenue		367,659			359,604			354,022			308,411			355,208			1,081,285			1,077,668
Taxable equivalent adjustment (n)		2,693			2,828			2,830			2,834			2,852			8,351			8,273
Total revenue (TE)		370,352			362,432			356,852			311,245			358,060			1,089,636			1,085,941
Adjustments from supplemental disclosure items
Gain on sale of parking facility		—			—			—			(16,126	)		—			—			—
Loss on securities portfolio restructure		—			—			—			65,380			—			—			—
Adjusted revenue (TE)	$	370,352		$	362,432		$	356,852		$	360,499		$	358,060		$	1,089,636		$	1,085,941
GAAP Noninterest expense	$	203,839		$	206,016		$	207,722		$	229,151		$	204,675		$	617,577		$	607,697
Amortization of Intangibles		(2,292	)		(2,389	)		(2,526	)		(2,672	)		(2,813	)		(7,207	)		(8,884	)
Adjustments from supplemental disclosure items
FDIC special assessment		—			—			(3,800	)		(26,123	)		—			(3,800	)		—
Adjusted noninterest expense for efficiency	$	201,547		$	203,627		$	201,396		$	200,356		$	201,862		$	606,570		$	598,813
Efficiency ratio (o)		54.42	%		56.18	%		56.44	%		55.58	%		56.38	%		55.67	%		55.14	%

(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.