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    Home ยป Hancock Whitney Reports Decrease in Net Interest Income
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    Hancock Whitney Reports Decrease in Net Interest Income

    August 15, 20232 Mins Read
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    Hancock Whitney, a Mississippi-based holding bank company, announced a decline in net interest income for the second quarter. This decrease was attributed to factors such as lower deposits, higher costs of short-term borrowing, and the impact of excess liquidity.

    Financial Performance

    In the second quarter, Hancock Whitney achieved a net profit of $117.8 million, or $1.35 per share. This is a decrease compared to the same period last year when the company reported a net profit of $143.8 million, or $1.38 per share. Analysts, however, had anticipated even lower earnings per share at $1.34.

    Net Interest Income

    Hancock Whitney’s net interest income declined by 4% to $276.7 million in the second quarter, falling short of analysts’ expectations of $280 million. This reduction was primarily due to the decrease in deposits.

    Deposit and Loan Figures

    Deposits saw a 2% decline from the previous year, amounting to $30 billion. However, compared to the first quarter, deposits increased by 1% thanks to a rise in interest-bearing time deposits. On the other hand, total loans experienced an 8.9% growth, reaching $23.7 billion.

    Balance-Sheet Strength

    Hancock Whitney’s common equity Tier 1 ratio, a measure of balance-sheet strength, stood at an estimated 11.83% by the end of the period. This reflects an improvement from the previous quarter’s ratio of 11.61%.

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