Hancock Whitney reports first quarter 2025 EPS of $1.38
Hancock Whitney (HWC) reported Q1 2025 financial results with net income of $119.5 million, or $1.38 per diluted share, compared to $122.1 million ($1.40 EPS) in Q4 2024. Key metrics include:
- Total loans decreased to $23.1 billion, down $201.3 million (3% LQA)
- Deposits declined to $29.2 billion, down $298.1 million (4% LQA)
- Net interest margin improved to 3.43%, up 2 bps
- Efficiency ratio at 55.22% vs 54.46% in prior quarter
- CET1 ratio estimated at 14.51%, up 37 bps
The bank maintained strong asset quality with ACL coverage at 1.49%. During Q1, the company repurchased 350,000 shares at an average price of $59.25. Management expects 2025 period-end loan and deposit balances to grow low-single digits from year-end 2024.
Hancock Whitney (HWC) ha comunicato i risultati finanziari del primo trimestre 2025 con un utile netto di 119,5 milioni di dollari, pari a 1,38 dollari per azione diluita, rispetto a 122,1 milioni di dollari (1,40 dollari per azione) nel quarto trimestre 2024. I principali indicatori includono:
- Prestiti totali scesi a 23,1 miliardi di dollari, in calo di 201,3 milioni (3% su base trimestrale)
- Depositi diminuiti a 29,2 miliardi di dollari, in calo di 298,1 milioni (4% su base trimestrale)
- Margine di interesse netto migliorato al 3,43%, in aumento di 2 punti base
- Rapporto di efficienza al 55,22% rispetto al 54,46% del trimestre precedente
- Rapporto CET1 stimato al 14,51%, in crescita di 37 punti base
La banca ha mantenuto una solida qualità degli attivi con una copertura ACL dell’1,49%. Durante il primo trimestre, la società ha riacquistato 350.000 azioni a un prezzo medio di 59,25 dollari. La direzione prevede che i saldi di prestiti e depositi a fine 2025 cresceranno di una cifra bassa in singola cifra rispetto alla fine del 2024.
Hancock Whitney (HWC) reportó los resultados financieros del primer trimestre de 2025 con un ingreso neto de 119,5 millones de dólares, o 1,38 dólares por acción diluida, en comparación con 122,1 millones de dólares (1,40 dólares por acción) en el cuarto trimestre de 2024. Los indicadores clave incluyen:
- Préstamos totales disminuyeron a 23,1 mil millones de dólares, una baja de 201,3 millones (3% intertrimestral)
- Depósitos bajaron a 29,2 mil millones de dólares, una caída de 298,1 millones (4% intertrimestral)
- Margen neto de interés mejoró a 3,43%, subiendo 2 puntos básicos
- Índice de eficiencia en 55,22% frente a 54,46% del trimestre previo
- Ratio CET1 estimado en 14,51%, un aumento de 37 puntos básicos
El banco mantuvo una sólida calidad de activos con una cobertura ACL del 1,49%. Durante el primer trimestre, la compañía recompró 350,000 acciones a un precio promedio de 59,25 dólares. La gerencia espera que los saldos de préstamos y depósitos al cierre de 2025 crezcan en un dígito bajo respecto al final de 2024.
핸콕 휘트니(HWC)는 2025년 1분기 실적을 발표하며 순이익이 1억 1,950만 달러, 희석 주당순이익(EPS) 1.38달러를 기록했다고 밝혔습니다. 이는 2024년 4분기 1억 2,210만 달러(주당 1.40달러)와 비교됩니다. 주요 지표는 다음과 같습니다:
- 총 대출금 231억 달러로 2억 130만 달러(분기 대비 3%) 감소
- 예금 292억 달러로 2억 9,810만 달러(분기 대비 4%) 감소
- 순이자마진(NIM) 3.43%로 2bp 상승
- 효율성 비율 55.22%로 전 분기 54.46% 대비 상승
- CET1 비율 추정치 14.51%로 37bp 증가
은행은 1.49%의 ACL 커버리지를 유지하며 자산 건전성을 견고하게 유지했습니다. 1분기 동안 회사는 평균 주당 59.25달러에 35만 주를 자사주 매입했습니다. 경영진은 2025년 말 대출 및 예금 잔액이 2024년 말 대비 낮은 한 자릿수 성장할 것으로 예상하고 있습니다.
Hancock Whitney (HWC) a publié ses résultats financiers du premier trimestre 2025 avec un bénéfice net de 119,5 millions de dollars, soit 1,38 dollar par action diluée, contre 122,1 millions de dollars (1,40 dollar par action) au quatrième trimestre 2024. Les indicateurs clés comprennent :
- Prêts totaux en baisse à 23,1 milliards de dollars, soit une diminution de 201,3 millions (3 % sur le trimestre)
- Dépôts en baisse à 29,2 milliards de dollars, soit une baisse de 298,1 millions (4 % sur le trimestre)
- Marge d’intérêt nette améliorée à 3,43 %, en hausse de 2 points de base
- Ratio d’efficacité à 55,22 % contre 54,46 % au trimestre précédent
- Ratio CET1 estimé à 14,51 %, en hausse de 37 points de base
La banque a maintenu une bonne qualité d’actifs avec une couverture ACL à 1,49 %. Au cours du premier trimestre, la société a racheté 350 000 actions à un prix moyen de 59,25 dollars. La direction prévoit que les soldes de prêts et de dépôts à la fin de 2025 croîtront de quelques points de pourcentage par rapport à la fin de 2024.
Hancock Whitney (HWC) meldete die Finanzergebnisse für das erste Quartal 2025 mit einem Nettogewinn von 119,5 Millionen US-Dollar bzw. 1,38 US-Dollar je verwässerter Aktie, verglichen mit 122,1 Millionen US-Dollar (1,40 US-Dollar EPS) im vierten Quartal 2024. Wichtige Kennzahlen umfassen:
- Gesamtkredite sanken auf 23,1 Milliarden US-Dollar, ein Rückgang um 201,3 Millionen (3 % im Quartalsvergleich)
- Einlagen fielen auf 29,2 Milliarden US-Dollar, ein Rückgang um 298,1 Millionen (4 % im Quartalsvergleich)
- Nettozinsmarge verbesserte sich auf 3,43 %, ein Anstieg um 2 Basispunkte
- Effizienzquote bei 55,22 % gegenüber 54,46 % im Vorquartal
- Geschätzte CET1-Quote bei 14,51 %, ein Anstieg um 37 Basispunkte
Die Bank hielt eine starke Vermögensqualität mit einer ACL-Abdeckung von 1,49 %. Im ersten Quartal kaufte das Unternehmen 350.000 Aktien zu einem Durchschnittspreis von 59,25 US-Dollar zurück. Das Management erwartet, dass die Kredit- und Einlagenbestände zum Jahresende 2025 im niedrigen einstelligen Prozentbereich gegenüber Ende 2024 wachsen werden.
- Net income increased 10% year-over-year to $119.5 million
- Net interest margin improved 2 bps to 3.43%
- Strong capital position with CET1 ratio at 14.51%
- 50% year-over-year increase in quarterly common stock dividend
- Criticized commercial loans decreased to 3.35% of total commercial loans
- Net income declined 2.1% quarter-over-quarter to $119.5 million
- Loans decreased by $201.3 million (3% LQA)
- Deposits declined by $298.1 million (4% LQA)
- Efficiency ratio deteriorated to 55.22% from 54.46%
- Nonaccrual loans increased to 0.45% from 0.42% of total loans
Insights
Hancock Whitney reported Q1 2025 EPS of $1.38, representing a
The bank's balance sheet metrics reveal mixed signals. Loans contracted by
Asset quality indicators show relative stability with some nuance. While criticized commercial loans decreased to
Capital positions continued to strengthen significantly, with the CET1 ratio rising to an estimated
The efficiency ratio ticked up slightly to
First Quarter 2025 Highlights
-
Net income totaled
$119.5 million $122.1 million -
Pre-provision net revenue (PPNR) totaled
$162.4 million $165.2 million -
Loans decreased
$201.3 million 3% linked quarter annualized (LQA) -
Deposits decreased
$298.1 million 4% LQA - Criticized commercial loans decreased and nonaccrual loans increased
-
ACL coverage solid at
1.49% , up 2 bps compared to the prior quarter -
NIM
3.43% , up 2 bps compared to the prior quarter -
CET1 ratio estimated at
14.51% , up 37 bps linked-quarter; TCE ratio of10.01% , up 54 bps linked-quarter; total risk-based capital ratio estimated at16.39% -
Efficiency ratio of
55.22% , compared to54.46% in the prior quarter
“The first quarter of 2025 was a very strong start to the year,” said John M. Hairston, President & CEO. “Our team delivered yet another quarter of solid profitability and capital growth. ROA was
Loans
Total loans were
Average loans totaled
Deposits
Total deposits at March 31, 2025 were
DDAs totaled
Average deposits for the first quarter of 2025 were
Asset Quality
The total allowance for credit losses (ACL) was
Criticized commercial loans totaled
Net Interest Income and Net Interest Margin (NIM)
Net interest income (TE) for the first quarter of 2025 was
Average earning assets were
Noninterest Income
Noninterest income totaled
Service charges on deposits were up
Investment and annuity income and insurance fees were up
Other noninterest income was
Noninterest Expense & Taxes
Noninterest expense totaled
Personnel expense totaled
ORE and other foreclosed assets expense totaled
Other expense totaled
The effective income tax rate for the first quarter of 2025 was
Capital
Common stockholders’ equity at March 31, 2025 totaled
Conference Call and Slide Presentation
Management will host a conference call for analysts and investors at 3:30 p.m. Central Time on Tuesday, April 15, 2025 to review first quarter of 2025 results. A live listen-only webcast of the call will be available under the Investor Relations section of Hancock Whitney’s website at investors.hancockwhitney.com. A link to the release with additional financial tables, and a link to a slide presentation related to first quarter results are also posted as part of the webcast link. To participate in the Q&A portion of the call, dial 800-715-9871 or 646-307-1963, access code 6506941.
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 April 22, 2025 by dialing 800-770-2030 or 609-800-9909, access code 6506941.
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
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.
Consistent with the provisions of subpart 229.1400 of the Securities and Exchange Commission’s Regulation S-K, “Disclosures by Bank and Savings and Loan Registrants,” 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. The company highlights certain items that are outside of our principal business and/or are not indicative of forward-looking trends in supplemental disclosures items below our GAAP financial data and presents certain “Adjusted” ratios that exclude these disclosed items. These adjusted ratios provide management or the reader with a measure that may be more indicative of forward-looking trends in our business, as well as demonstrates the effects of significant gains or losses and changes.
We define Adjusted Pre-Provision Net Revenue as net income excluding provision expense and income tax expense, plus the taxable equivalent adjustment (as defined above), less supplemental disclosure items (as defined above). Management believes that adjusted pre-provision net revenue is a useful financial measure because it enables investors and others to assess the company’s ability to generate capital to cover credit losses through a credit cycle. We define Adjusted Revenue as net interest income (te) and noninterest income less supplemental disclosure items. We define Adjusted Noninterest Expense as noninterest expense less supplemental disclosure items. We define our Efficiency Ratio as noninterest expense to total net interest income (te) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items, if applicable. Management believes adjusted revenue, adjusted noninterest expense and the efficiency ratio are useful measures as they provide a greater understanding of ongoing operations and enhance comparability with prior periods.
Important Cautionary Statement about Forward-Looking Statements
This 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 of our performance and financial condition, balance sheet and revenue growth, the provision for credit losses, capital levels, deposits (including growth, pricing, and betas), investment portfolio, other sources of liquidity, loan growth expectations, management’s predictions about charge-offs for loans, the impact of current and future economic conditions, including the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for
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, 2024, and in other periodic reports that we file with the SEC.
| HANCOCK WHITNEY CORPORATION | ||||||||||||||||||||
| QUARTERLY FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||
| (dollars and common share data in thousands, except per share amounts) | 3/31/2025 | 12/31/2024 | 9/30/2024 | 6/30/2024 | 3/31/2024 | |||||||||||||||
| NET INCOME | ||||||||||||||||||||
| Net interest income | $ |
269,905 |
|
$ |
273,556 |
|
$ |
271,764 |
|
$ |
270,430 |
|
$ |
266,171 |
|
|||||
| Net interest income (TE) (a) |
|
272,711 |
|
|
276,291 |
|
|
274,457 |
|
|
273,258 |
|
|
269,001 |
|
|||||
| Provision for credit losses |
|
10,462 |
|
|
11,912 |
|
|
18,564 |
|
|
8,723 |
|
|
12,968 |
|
|||||
| Noninterest income |
|
94,791 |
|
|
91,209 |
|
|
95,895 |
|
|
89,174 |
|
|
87,851 |
|
|||||
| Noninterest expense |
|
205,059 |
|
|
202,333 |
|
|
203,839 |
|
|
206,016 |
|
|
207,722 |
|
|||||
| Income tax expense |
|
29,671 |
|
|
28,446 |
|
|
29,684 |
|
|
30,308 |
|
|
24,720 |
|
|||||
| Net income | $ |
119,504 |
|
$ |
122,074 |
|
$ |
115,572 |
|
$ |
114,557 |
|
$ |
108,612 |
|
|||||
| Supplemental disclosure items - included above, pre-tax | ||||||||||||||||||||
| Included in noninterest expense | ||||||||||||||||||||
| FDIC special assessment | $ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
3,800 |
|
|||||
| PERIOD-END BALANCE SHEET DATA | ||||||||||||||||||||
| Loans | $ |
23,098,146 |
|
$ |
23,299,447 |
|
$ |
23,455,587 |
|
$ |
23,911,616 |
|
$ |
23,970,938 |
|
|||||
| Securities |
|
7,694,969 |
|
|
7,597,154 |
|
|
7,769,780 |
|
|
7,535,836 |
|
|
7,559,182 |
|
|||||
| Earning assets |
|
31,661,169 |
|
|
31,857,841 |
|
|
32,045,222 |
|
|
32,056,415 |
|
|
31,985,610 |
|
|||||
| Total assets |
|
34,750,680 |
|
|
35,081,785 |
|
|
35,238,107 |
|
|
35,412,291 |
|
|
35,247,119 |
|
|||||
| Noninterest-bearing deposits |
|
10,614,874 |
|
|
10,597,461 |
|
|
10,499,476 |
|
|
10,642,213 |
|
|
10,802,127 |
|
|||||
| Total deposits |
|
29,194,733 |
|
|
29,492,851 |
|
|
28,982,905 |
|
|
29,200,718 |
|
|
29,775,906 |
|
|||||
| Common stockholders' equity |
|
4,278,672 |
|
|
4,127,636 |
|
|
4,174,687 |
|
|
3,920,718 |
|
|
3,853,436 |
|
|||||
| AVERAGE BALANCE SHEET DATA | ||||||||||||||||||||
| Loans | $ |
23,068,573 |
|
$ |
23,248,512 |
|
$ |
23,552,002 |
|
$ |
23,917,361 |
|
$ |
23,810,163 |
|
|||||
| Securities (b) |
|
8,241,514 |
|
|
8,257,061 |
|
|
8,218,896 |
|
|
8,214,172 |
|
|
8,197,410 |
|
|||||
| Earning assets |
|
32,023,885 |
|
|
32,333,012 |
|
|
32,263,748 |
|
|
32,539,363 |
|
|
32,556,821 |
|
|||||
| Total assets |
|
34,355,515 |
|
|
34,770,663 |
|
|
34,780,386 |
|
|
34,998,880 |
|
|
35,101,869 |
|
|||||
| Noninterest-bearing deposits |
|
10,163,221 |
|
|
10,409,022 |
|
|
10,359,390 |
|
|
10,526,903 |
|
|
10,673,060 |
|
|||||
| Total deposits |
|
28,752,416 |
|
|
29,108,381 |
|
|
28,940,163 |
|
|
29,069,097 |
|
|
29,560,956 |
|
|||||
| Common stockholders' equity |
|
4,182,814 |
|
|
4,138,326 |
|
|
4,021,211 |
|
|
3,826,296 |
|
|
3,818,840 |
|
|||||
| COMMON SHARE DATA | ||||||||||||||||||||
| Earnings per share - diluted | $ |
1.38 |
|
$ |
1.40 |
|
$ |
1.33 |
|
$ |
1.31 |
|
$ |
1.24 |
|
|||||
| Cash dividends per share |
|
0.45 |
|
|
0.40 |
|
|
0.40 |
|
|
0.40 |
|
|
0.30 |
|
|||||
| Book value per share (period-end) |
|
49.73 |
|
|
47.93 |
|
|
48.47 |
|
|
45.40 |
|
|
44.49 |
|
|||||
| Tangible book value per share (period-end) |
|
39.40 |
|
|
37.58 |
|
|
38.10 |
|
|
35.04 |
|
|
34.12 |
|
|||||
| Weighted average number of shares - diluted |
|
86,462 |
|
|
86,602 |
|
|
86,560 |
|
|
86,765 |
|
|
86,726 |
|
|||||
| Period-end number of shares |
|
86,033 |
|
|
86,124 |
|
|
86,136 |
|
|
86,355 |
|
|
86,622 |
|
|||||
| Market data | ||||||||||||||||||||
| High sales price | $ |
61.57 |
|
$ |
62.40 |
|
$ |
57.78 |
|
$ |
49.11 |
|
$ |
49.10 |
|
|||||
| Low sales price |
|
49.46 |
|
|
48.36 |
|
|
45.26 |
|
|
41.56 |
|
|
41.19 |
|
|||||
| Period-end closing price |
|
52.45 |
|
|
54.72 |
|
|
51.17 |
|
|
47.83 |
|
|
46.04 |
|
|||||
| Trading volume |
|
41,692 |
|
|
32,670 |
|
|
35,017 |
|
|
29,308 |
|
|
30,508 |
|
|||||
| PERFORMANCE RATIOS | ||||||||||||||||||||
| Return on average assets |
|
1.41 |
% |
|
1.40 |
% |
|
1.32 |
% |
|
1.32 |
% |
|
1.24 |
% |
|||||
| Return on average common equity |
|
11.59 |
% |
|
11.74 |
% |
|
11.43 |
% |
|
12.04 |
% |
|
11.44 |
% |
|||||
| Return on average tangible common equity |
|
14.72 |
% |
|
14.96 |
% |
|
14.70 |
% |
|
15.73 |
% |
|
14.96 |
% |
|||||
| Tangible common equity ratio (c) |
|
10.01 |
% |
|
9.47 |
% |
|
9.56 |
% |
|
8.77 |
% |
|
8.61 |
% |
|||||
| Net interest margin (TE) |
|
3.43 |
% |
|
3.41 |
% |
|
3.39 |
% |
|
3.37 |
% |
|
3.32 |
% |
|||||
| Noninterest income as a percentage of total revenue (TE) |
|
25.79 |
% |
|
24.82 |
% |
|
25.89 |
% |
|
24.60 |
% |
|
24.62 |
% |
|||||
| Efficiency ratio (d) |
|
55.22 |
% |
|
54.46 |
% |
|
54.42 |
% |
|
56.18 |
% |
|
56.44 |
% |
|||||
| Average loan/deposit ratio |
|
80.23 |
% |
|
79.87 |
% |
|
81.38 |
% |
|
82.28 |
% |
|
80.55 |
% |
|||||
| Allowance for loan losses as a percentage of period-end loans |
|
1.38 |
% |
|
1.37 |
% |
|
1.35 |
% |
|
1.32 |
% |
|
1.31 |
% |
|||||
| Allowance for credit losses as a percentage of period-end loans (e) |
|
1.49 |
% |
|
1.47 |
% |
|
1.46 |
% |
|
1.43 |
% |
|
1.42 |
% |
|||||
| Annualized net charge-offs to average loans |
|
0.18 |
% |
|
0.20 |
% |
|
0.30 |
% |
|
0.12 |
% |
|
0.15 |
% |
|||||
| Allowance for loan losses as a % of nonaccrual loans |
|
305.26 |
% |
|
327.61 |
% |
|
382.87 |
% |
|
366.54 |
% |
|
382.21 |
% |
|||||
| FTE headcount |
|
3,497 |
|
|
3,476 |
|
|
3,458 |
|
|
3,541 |
|
|
3,564 |
|
|||||
| (a) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of |
||||||||||
| (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. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250415635524/en/
For more information
Kathryn Shrout Mistich, VP, Investor Relations Manager
504.539.7836 or kathryn.mistich@hancockwhitney.com
Source: Hancock Whitney Corporation
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