Hancock Whitney reports fourth quarter 2024 EPS of $1.40

About this update from Hancock Whitney Corporation

[{"type":"text","content":" GULFPORT, Miss.--(BUSINESS WIRE)--\nHancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the fourth quarter of 2024. Net income for the fourth quarter of 2024 totaled $122.1 million, or $1.40 per diluted common share (EPS), compared to $115.6 million, or $1.33 per diluted common share, in the third quarter of 2024. The company reported net income for the fourth quarter of 2023 of $50.6 million, or $0.58 per diluted common share. The fourth quarter of 2023 included $75.4 million, or $0.68 per diluted share after-tax, of supplemental disclosure items. Excluding the impact of these supplemental disclosure items, EPS would have been $1.26 per diluted share in the fourth quarter of 2023. There were no supplemental disclosure items in the third or fourth quarters of 2024.\n\n\nFourth Quarter 2024 Highlights\n\n\n\nNet income totaled $122.1 million, compared to $115.6 million in the prior quarter\n\n\n\nPre-provision net revenue (PPNR) totaled $165.2 million, compared to $166.5 million in the prior quarter\n\n\n\nLoans decreased $156.1 million, or 3% linked quarter annualized (LQA)\n\n\n\nDeposits increased $509.9 million, or 7% LQA\n\n\n\nCriticized commercial loans and nonaccrual loans continued to normalize\n\n\n\nACL coverage solid at 1.47%, up 1 bp compared to the prior quarter\n\n\n\nNIM 3.41%, up 2 bps compared to the prior quarter\n\n\n\nCET1 ratio estimated at 14.14%, up 36 bps linked-quarter; TCE ratio of 9.47%, down 9 bps linked-quarter; total risk-based capital ratio estimated at nearly 16%\n\n\n\nEfficiency ratio of 54.46%, up 4 bps linked-quarter\n\n\n\n“The fourth quarter 2024 results reflect a strong conclusion to our year-long 125th anniversary celebration,” said John M. Hairston, President & CEO. “Our team delivered an impressive ROA of 1.40%, additional NIM expansion, and an efficiency ratio of 54.46%. Credit metrics continued to normalize, and we’ve maintained a solid ACL to loans of 1.47%. Our regulatory capital ratios continued to climb, with total risk-based capital reaching nearly 16%. We believe we are well-positioned as we enter 2025, and we are excited for the opportunities that lie ahead, including the announcement earlier today of the acquisition of Sabal Trust Company and the expansion of our outstanding team of revenue generators and financial center locations. I would like...

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