Hancock Whitney Q2 profit rises as net interest income grows
HWC•Outlook
- Company did not provide specific financial guidance for the current or future periods
Overview
- U.S. regional bank's Q2 net income and EPS rose yr/yr
- Loans and deposits grew 2% each from prior quarter
- Company repurchased 713k shares and announced One Florida Bank acquisition
Result drivers
- Loan growth - Loan balances rose 2% from Q1, driven by increases in commercial & industrial lending, healthcare activity, and commercial real estate
- Deposit mix - Deposit growth was led by higher interest-bearing transactions and savings, offset by declines in retail time and public fund deposits
- Noninterest income recovery - Noninterest income increased sharply from Q1, reflecting the absence of a $98.6 mln securities portfolio restructuring loss that impacted the prior quarter
Key details and analyst coverage
| Metric | Actual |
|---|---|
| Q2 adjusted pre-provision net revenue | $178.1 mln |
| Q2 EPS | $1.55 |
| Q2 net income |
