Hancock Whitney Corporation · NASDAQ:HWC
Hancock Whitney — Hancock Holding — Gulf South Bank Conference 2017
19 slides from Hancock Whitney's conference presentation, May 8, 2017
Slide 1: Gulf South Bank Conference
5/08/2017 Gulf South Bank Conference
Slide 2: Important Cautionary Statement About Forward-Looking Statements
Important Cautionary Statement About Forward-Looking Statements This presentation 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 ma
Slide 3: First Quarter 2017 Highlights
(compared to fourth quarter 2016) First Quarter 2017 Highlights Net income of $49.0 million, down $2.8 million, or 5%; core pre-provision net revenue (PPNR) of $93.3 million, up $6.1 million or 7% Includes a partial quarter impact from the acquisition on March 10, 2017 of selected assets and liabili
Slide 4: Core pre-provision net revenue (PPNR) continues to grow
Core pre-provision net revenue (PPNR) continues to grow 1Q17 vs. 1Q16 growth in core PPNR +22% $s in millions See slide 15 for non-GAAP reconciliation 1Q17 vs. 4Q16 growth in core PPNR +7%
Slide 5: Managing Our Capital
TCE ratio at year-end 2016 was 8.64% post capital raise (12-16-16)TCE ratio declined to 7.94% at March 31, 2017 after the FNBC transaction closed on March 10, 2017TCE ratio 7.34% at April 30, 2017 after the FDIC transaction closed on April 28, 2017Will continue to manage capital in the best interest
Slide 6: FNBC I (Transaction with FNBC)
FNBC I (Transaction with FNBC) Signed an agreement on December 30, 2016 to purchase certain assets and liabilities, including 9 branches, from FNBC; the transaction closed on March 10, 2017Purchased select loans, 9 FNBC branches, including associated transaction and savings deposits and PP&E, and FH
Slide 7: FNBC I -- Compelling Financial Impact
FNBC I -- Compelling Financial Impact Conservative level of initial loan and deposit run-off, no accretion, provision expense, additional operating expenses were included in modeling projectionsCurrent run-rate reflects better than expected level of earnings Includes impact of accretionNo provision
Slide 8: FNBC II (FDIC transaction)
FNBC II (FDIC transaction) On April 28, 2017 the Louisiana Office of Financial Institutions (OFI) closed First NBC Bank and appointed the FDIC as receiverWhitney Bank signed an agreement with the FDIC to acquire/assume certain assets and liabilities of First NBC BankApproximately $1.6 billion in dep
Slide 9: Additional Financial Information Regarding the FNBC II Transaction
Net liquidity from this transaction will be used to pay down debt (FHLB), acquire additional securities and hold for organic growthWill maintain current rates on deposits acquired for the near-termCost savings mainly the result of back office and branch consolidation Acquisition costs include retent
Slide 10: Parts I & II = One Financially Compelling Investment
Acquired approximately $2.6 billion in assets and liabilities in two unrelated transactions for $77 million transaction premium In-market, low-risk transactionsConsolidated 10 overlapping branches in FNBC IExpect significant consolidation of the acquired back office and branches in FNBC IIFunding lo
Slide 11: Mid-Term Outlook – 2017 (includes FNBC I & II)
Mid-Term Outlook – 2017 (includes FNBC I & II) Addition of FNBC II transaction does not significantly impact 2H17 earningsExpect to be accretive in 2H17Loan growth 15-17% (EOP)Includes $1.2B of loans acquired from FNBC I in 1Q17 (net of loan mark)Only minimal amount of loans acquired in FNBC IIFund
Slide 12: Long-Term Outlook
Long-Term Outlook Working to achieve goals no later than 4Q18, if not soonerFNBC I & II help increase the potential for early achievement of long-term goals 2017/18 Corporate Strategic Objectives (CSOs) Efficiency Ratio is noninterest expense to total net interest (TE) and noninterest income, exclud
Slide 13: Appendix/Non-GAAP Reconciliations
Appendix/Non-GAAP Reconciliations
Slide 14: Near-Term Outlook (excludes FNBC II)
Near-Term Outlook (excludes FNBC II) See slides 15-17 for non-GAAP reconciliations
Slide 15: Appendix: Core PPNR Reconciliation
Appendix: Core PPNR Reconciliation
Slide 16: Appendix: Core Revenue Reconciliation
Appendix: Core Revenue Reconciliation
Slide 17: Appendix: Purchase Accounting Adjustments Core NII & NIM Reconciliation
Appendix: Purchase Accounting Adjustments Core NII & NIM Reconciliation
Slide 18: Appendix: Glossary of Terms
Appendix: Glossary of Terms Loan Mark – Fair value discount on loans acquired in a business combinationLPO – Loan production officeLQA – Linked-quarter annualizedM&A – Mergers and acquisitionsNII – Net interest income NIM – Net interest marginNPA – Nonperforming assetsO&G – Oil and gasOperating – Ne
Slide 19: Gulf South Bank Conference
5/08/2017 Gulf South Bank Conference