Hancock Whitney reports Q4 EPS ex-items $1.26, consensus $1.19

“Fourth quarter’s results reflect a strong finish to 2023,” said John M. Hairston, President & CEO. “We are pleased to report that our adjusted PPNR increased 3% linked-quarter, our efficiency ratio improved to 55.58%, and our NIM was flat with prior quarter. Excluding the supplemental disclosure items, we achieved fee income growth while reducing expenses. NIM was supported by improved loan yields, lower short-term borrowing costs, and the impacts of the bond portfolio restructure. Total loans were relatively flat this quarter and deposit balances declined as higher-cost brokered deposits matured. As we previously disclosed, our charge-offs have begun to normalize, but we do not see any broad signs of weakening and our problem credit metrics remain at, or near, historically low levels. We maintained a robust ACL to loans of 1.41% and we continued to grow capital this quarter. We ended the quarter with TCE above 8% and total risk-based capital at 14%; we remain well-capitalized, including all unrealized losses in our portfolio. We are looking forward to carrying the momentum from the strong year-end finish into 2024, not only for our company, but for our clients, associates, and communities we serve.”