UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36872 HANCOCK WHITNEY CORPORATION (Exact name of registrant as specified in its charter) Mississippi 64-0693170 (State or other ...

Core Viewpoint - Hancock Whitney Corp. (HWC) reported second-quarter 2025 adjusted earnings per share of $1.37, surpassing the Zacks Consensus Estimate of $1.34, and reflecting a 4.6% increase from the prior year quarter [1][10]. Financial Performance - The company's total revenues reached $375.5 million, marking a 4.4% year-over-year increase and exceeding the Zacks Consensus Estimate of $371.3 million [4]. - Net interest income (NII) rose 2.3% year over year to $279.5 million, with a net interest margin (NIM) of 3.49%, which expanded by 12 basis points [4]. - Non-interest income totaled $98.5 million, up 10.5%, driven by increases across almost all components [5]. - Total non-interest expenses increased by 4.8% to $216 million, while adjusted expenses rose by 2% [5]. Loan and Deposit Trends - As of June 30, 2025, total loans were $23.5 billion, up 1.6% from the prior quarter, while total deposits slightly declined to $29 billion [6]. Credit Quality - The provision for credit losses was $14.9 million, a significant increase of 71.1% from the prior-year quarter [7]. - Net charge-offs (annualized) were 0.31% of average total loans, up 19 basis points from the prior-year quarter [7]. Capital and Profitability Ratios - The Tier 1 leverage ratio improved to 11.39% from 10.71% year over year, and the common equity Tier 1 ratio increased to 14.03% from 13.25% [8]. - The return on average assets remained stable at 1.32%, while the return on average common equity decreased to 10.63% from 12.04% [8]. Share Repurchase Activity - In the reported quarter, HWC repurchased 0.75 million shares at an average price of $52.36 per share [11]. Strategic Outlook - The company's strategic expansion initiatives, including the acquisition of Sabal Trust Company, are expected to support top-line growth, while bond restructuring efforts and higher rates may aid NII and NIM expansion [12].

Group 1 - Hancock Whitney's shares have performed well over the past year, gaining approximately 14% and reaching a 52-week high [1] - The company reported generally in-line results, indicating that its growth initiatives have been slow to accelerate [1]

Core Insights - Hancock Whitney (HWC) reported revenue of $375.48 million for Q2 2025, a year-over-year increase of 4.4% and an EPS of $1.37, up from $1.31 a year ago, exceeding Zacks Consensus Estimates for both revenue and EPS [1] Financial Performance Metrics - Net interest margin (TE) stood at 3.5%, matching the average estimate from four analysts [4] - Efficiency Ratio was reported at 54.9%, better than the four-analyst average estimate of 55.9% [4] - Total net charge-offs as a percentage of average loans were 0.3%, slightly above the 0.2% average estimate from three analysts [4] - Average balance of total interest-earning assets was $32.08 billion, slightly above the three-analyst average estimate of $32.05 billion [4] - Total nonperforming loans amounted to $94.92 million, below the two-analyst average estimate of $106.46 million [4] - Total nonperforming assets were reported at $121.77 million, lower than the $138.95 million estimated by two analysts [4] - Total noninterest income reached $98.52 million, exceeding the four-analyst average estimate of $96.84 million [4] - Net interest income (TE) was $279.46 million, slightly above the $278.55 million average estimate from four analysts [4] - Net interest income was reported at $276.96 million, compared to the $275.4 million estimated by three analysts [4] - Secondary mortgage market operations generated $4.15 million, below the $4.24 million average estimate from two analysts [4] - Bank card and ATM fees totaled $22 million, exceeding the two-analyst average estimate of $21.14 million [4] - Investment and annuity fees and insurance commissions were reported at $10.6 million, slightly above the $10.47 million average estimate from two analysts [4] Stock Performance - Shares of Hancock Whitney have returned +11.7% over the past month, outperforming the Zacks S&P 500 composite's +5% change, with a Zacks Rank 2 (Buy) indicating potential for further outperformance [3]

Group 1 - Hancock Whitney (HWC) reported quarterly earnings of $1.37 per share, exceeding the Zacks Consensus Estimate of $1.34 per share, and up from $1.31 per share a year ago, representing an earnings surprise of +2.24% [1] - The company posted revenues of $375.48 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.14%, and an increase from year-ago revenues of $359.6 million [2] - Hancock Whitney shares have increased approximately 10.1% since the beginning of the year, outperforming the S&P 500's gain of 6.6% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $1.36 on revenues of $384.34 million, and for the current fiscal year, it is $5.53 on revenues of $1.51 billion [7] - The Zacks Industry Rank for Banks - Southeast is currently in the top 24% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - FVCBankcorp, another company in the same industry, is expected to report quarterly earnings of $0.28 per share, reflecting a year-over-year change of +21.7% [9]

Financial Data and Key Metrics Changes - The company reported an adjusted net income of $118 million or $1.37 per share for the second quarter, compared to $120 million or $1.38 per share in the first quarter [12] - The net interest margin (NIM) expanded by six basis points, reaching 1.37% after adjusting for transaction-related expenses [5][12] - Total loans increased by $364 million or 6% annualized, driven by stronger demand and increased line utilization [5][12] - Total deposits decreased by $148 million, primarily due to a reduction in certificates of deposit (CDs) [6][12] Business Line Data and Key Metrics Changes - Fee income grew by $4 million or 4%, with trust fees being the primary driver of this growth [12][13] - The efficiency ratio improved to 54.91% from 55.22% in the previous quarter, indicating better cost management [13] - The company added 10 net new bankers during the quarter, contributing to its organic growth strategy [8] Market Data and Key Metrics Changes - The company reported a solid allowance for credit losses at 1.45%, indicating a strong position to navigate economic challenges [10] - Criticized commercial loans decreased by 4% to $594 million, while nonaccrual loans decreased by 9% to $95 million [18] Company Strategy and Development Direction - The company remains focused on organic growth, with a guidance of low single-digit loan growth for 2025, inferring mid single-digit growth for the second half of the year [6][12] - The company is optimistic about its growth prospects, particularly in the Dallas market, with plans to open five new financial centers [9] - The acquisition of Sable Trust Company is expected to enhance the company's capabilities and client base [7][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the dynamic macroeconomic environment but expressed confidence in the company's ample liquidity and strong capital ratios [10] - The management noted that clients have become less sensitive to economic headlines and are returning to making business decisions based on facts [30] - The company expects modest NIM expansion and net interest income (NII) growth of 3-4% for the year [17] Other Important Information - The company repurchased 750,000 shares of common stock during the quarter, reflecting its commitment to returning capital to shareholders [7][19] - The company anticipates two rate cuts of 25 basis points in September and December, which may impact deposit costs and NIM [17][44] Q&A Session Summary Question: What is the target CET1 ratio for buybacks? - Management indicated a comfortable operating range for Tier 1 common capital between 11% and 11.5% and around 8% for TCE [23][24] Question: What is the outlook for loan growth and borrower health? - Management noted that net new loans to new clients are the primary driver for growth, with a positive outlook barring macroeconomic changes [29][30] Question: Can you provide more insight into NIM outlook? - Management expects NIM to continue expanding in the second half of the year, driven by loan growth and reduced deposit costs [41][44] Question: How much of the expense base came from the Sable acquisition? - The increase in expenses related to Sable was approximately $2.5 million for the quarter [50] Question: What is the outlook for criticized loans? - Management reported a decrease in criticized loans and expressed confidence in the portfolio's health moving forward [105][106] Question: What is the company's stance on M&A? - Management reiterated that M&A is not a current focus but remains opportunistic for the future [58][112]

Core Insights - The company reported an expansion in Net Interest Margin (NIM) by six basis points in Q2 2025, indicating improved profitability [2][15] - Adjusted Return on Assets (ROA) was 1.37% for Q2 2025, reflecting transaction expenses related to the Sable Trust acquisition [3][20] - Adjusted net income decreased slightly to $118 million, or $1.37 per share, compared to $120 million, or $1.38 per share, in the previous quarter [3][20] - Pre-Provision Net Revenue (PPNR) increased by $5 million, or 3%, reaching 1.95% of assets [3][20] - Fee income rose by $4 million, or 4%, primarily driven by trust fees from the Sable Trust acquisition [4][20] Financial Performance - Net Interest Income (NII) increased by $7 million, or 2%, quarter-over-quarter [3][20] - Expenses rose by $5 million, or 2%, after adjusting for one-time items, with $2.5 million attributed to the Sable Trust acquisition [4][20] - Efficiency Ratio improved to 54.91% from 55.22% in the previous quarter, indicating better cost management [5][21] - Loans grew by $364 million, representing 6% annualized linked-quarter growth, with guidance for low single-digit annual growth remaining unchanged [5][15] Deposits and Funding - Deposit balances decreased by $148 million, primarily due to certificate of deposit (CD) run-off and reduced public funds [5][16] - Demand Deposit Account (DDA) mix increased to 37%, with management guiding for 37%-38% by year-end 2025 [5][24] - CD maturities repriced from 3.85% to 3.59%, with an 86% renewal rate; an additional $3.6 billion is expected to mature in the second half of 2025 [6][23] Capital and Shareholder Returns - Tangible common equity (TCE) stood at 9.84% and common equity Tier 1 at 14.03% post-acquisition [7][25] - The company repurchased 750,000 shares, spending approximately $40 million, with plans to maintain this capital return pace [8][26] - Management expects a common equity Tier 1 operating level of 11%-11.5% and a TCE comfort zone near 8% [9][29] Credit Quality - Allowance for Credit Losses (ACL) was maintained at 1.45% of loans, down four basis points from the last quarter [7][25] - Net charge-offs increased to 31 basis points, with full-year 2025 guidance unchanged at 15-25 basis points [7][25] - Criticized commercial loans declined by 4% to $594 million, and nonaccrual loans fell by 9% to $95 million, indicating stable credit quality [7][25] Growth Initiatives - The company added ten new bankers and finalized five new financial center locations in the Dallas area, with three openings slated for late 2025 and the remainder in early 2026 [8][17] - Management expects continued CD repricing at lower rates, forecasting at least an 81% renewal rate in the second half of 2025 [12][24] - The organic hiring plan targets a compounded 10% increase in bankers annually, with flexibility to exceed this if high-quality talent becomes available [12][76]

Financial Performance - Net income was $113.5 million, or $1.32 per diluted share, compared to $119.5 million, or $1.38 per diluted share in 1Q25[24, 25] - Adjusted Pre-Provision Net Revenue (PPNR) totaled $167.9 million, up $5.5 million compared to 1Q25[24, 25] - Net Interest Margin (NIM) was 3.49%, up 6 bps compared to 1Q25[24, 25] - Efficiency ratio was 54.91%, improved 31 bps compared to prior quarter[24, 25] Balance Sheet - Total assets reached $35.2 billion[10] - Loans totaled $23.5 billion, up $364 million, or 6% LQA[10, 25, 29] - Deposits totaled $29.0 billion, down $148 million, or 2% LQA[10, 25, 36] - CET1 ratio was estimated at 14.03%, down 45 bps linked-quarter; TCE ratio at 9.84%, down 17 bps linked-quarter[10, 24, 25] Asset Quality - Criticized commercial loans totaled $569 million, or 3.15% of total commercial loans, down $25 million from $594 million, or 3.35% of total commercial loans, in prior quarter[38, 39] - Nonaccrual loans totaled $95 million, or 0.40% of total loans, down $9 million from $104 million, or 0.45% of total loans, in prior quarter[38, 39] - ACL coverage solid at 1.45%, compared to 1.49% in prior quarter[25, 41] Forward Guidance - Expect EOP loans at 12/31/25 to be up low single digits from 12/31/24 levels[74] - Expect NII (te) to be up between 3%-4% from FY24; expect modest NIM expansion throughout 2H25[74] - Expect noninterest income to be up 9%-10% from FY24 noninterest income[74]

[Financial Highlights & Overview](index=1&type=section&id=Financial_Highlights_and_Overview) The company reported solid Q2 2025 results with strong profitability, NIM expansion, and active capital deployment, despite acquisition-related expenses [Second Quarter 2025 Highlights](index=1&type=section&id=Second_Quarter_2025_Highlights) Hancock Whitney reported a solid second quarter for 2025, with a net income of $113.5 million, or $1.32 per diluted share Q2 2025 Key Financial Results | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Income | $113.5M | $119.5M | $114.6M | | Diluted EPS | $1.32 | $1.38 | $1.31 | | Diluted EPS (Adjusted) | $1.37 | $1.38 | $1.31 | - The acquisition of Sabal Trust Company on May 2, 2025, resulted in **$5.9 million** ($0.05 per share) of supplemental disclosure items, impacting reported earnings[1](index=1&type=chunk)[4](index=4&type=chunk) Q2 2025 Key Performance Indicators (vs. Q1 2025) | Indicator | Q2 2025 Value | Change vs. Q1 2025 | | :--- | :--- | :--- | | Adjusted PPNR | $167.9M | Up $5.5M | | Loans | $23.5B | Up 6% LQA | | Deposits | $29.0B | Down 2% LQA | | Net Interest Margin (NIM) | 3.49% | Up 6 bps | | Efficiency Ratio | 54.91% | Improved 31 bps | | CET1 Ratio (est.) | 14.03% | Down 45 bps | - CEO John M. Hairston highlighted the quarter's solid profitability, NIM expansion, improved efficiency, and proactive capital deployment for both organic growth and the repurchase of **750,000 shares**[4](index=4&type=chunk) [Financial Condition Analysis](index=2&type=section&id=Financial_Condition_Analysis) The company's financial condition shows growth in loans, a slight decrease in deposits, solid asset quality, and strong capital ratios [Loans](index=2&type=section&id=Loans) Total loans increased by $363.6 million to $23.5 billion in the second quarter, a 6% linked-quarter annualized growth rate Loan Portfolio Growth | Metric | June 30, 2025 (in billions) | Change from Mar 31, 2025 (in millions) | | :--- | :--- | :--- | | Total Loans | $23.5 billion | +$363.6 million (+2%) | | Average Loans | $23.2 billion | +$180.7 million (+1%) | - Management expects **low-single digit loan growth** in 2025 from December 31, 2024 levels[5](index=5&type=chunk) [Deposits](index=2&type=section&id=Deposits) Total deposits saw a slight linked-quarter decrease of $148.1 million, ending the quarter at $29.0 billion Deposit Balances | Metric | June 30, 2025 (in billions) | Change from Mar 31, 2025 (in millions) | | :--- | :--- | :--- | | Total Deposits | $29.0 billion | -$148.1 million (-1%) | | Average Deposits | $28.6 billion | -$102.5 million (< -1%) | - Noninterest-bearing deposits (DDAs) increased by $23.9 million and constituted **37%** of total deposits at quarter-end[7](index=7&type=chunk) - The decrease in deposits was primarily driven by a **$234.4 million (6%)** drop in retail time deposits and a decrease in interest-bearing public funds due to seasonal outflows[6](index=6&type=chunk)[7](index=7&type=chunk) [Asset Quality](index=2&type=section&id=Asset_Quality) Asset quality remained solid with improvements in key areas Credit Quality Metrics (Q2 2025 vs Q1 2025) | Metric | Q2 2025 (in millions) | Q1 2025 (in millions) | | :--- | :--- | :--- | | ACL to Period-End Loans | 1.45% | 1.49% | | Provision for Credit Losses | $14.9M | $10.5M | | Net Charge-Offs (Annualized) | 0.31% | 0.18% | | Criticized Commercial Loans | $569.3M | $594.1M | | Nonaccrual Loans | $94.9M | $104.2M | - Criticized commercial loans decreased to **3.15%** of total commercial loans from 3.35% in the prior quarter[10](index=10&type=chunk) - Nonaccrual loans as a percentage of total loans improved, decreasing to **0.40%** from **0.45%** linked-quarter[10](index=10&type=chunk) [Capital](index=4&type=section&id=Capital) Capital ratios remained strong despite a linked-quarter decrease due to deployment for growth and share buybacks Key Capital Ratios (June 30, 2025) | Ratio | Value (%) | Change vs. Mar 31, 2025 (%) | | :--- | :--- | :--- | | CET1 Ratio (est.) | 14.03% | -45 bps | | TCE Ratio | 9.84% | -17 bps | | Total Risk-Based Capital (est.) | 15.87% | -50 bps | - The company repurchased **750,000 shares** of its common stock during Q2 2025, bringing the total repurchased under the current program to **1,100,000 shares**[21](index=21&type=chunk) [Results of Operations Analysis](index=3&type=section&id=Results_of_Operations_Analysis) Operating results for Q2 2025 show increased net interest income and noninterest income, alongside higher expenses due to acquisition-related costs [Net Interest Income and Net Interest Margin (NIM)](index=3&type=section&id=Net_Interest_Income_and_Net_Interest_Margin_%28NIM%29) Net interest income (TE) increased by $6.7 million to $279.5 million, and the net interest margin (NIM) expanded by 6 basis points to 3.49% linked-quarter Net Interest Income & Margin (TE) | Metric | Q2 2025 (in millions) | Change from Q1 2025 (in millions) | | :--- | :--- | :--- | | Net Interest Income (TE) | $279.5M | +$6.7M (+2%) | | Net Interest Margin (TE) | 3.49% | +6 bps | - The **6 bps** NIM expansion was driven by: **+4 bps** from deposit rates, **+2 bps** from securities yields, and **+2 bps** from loan yields, partially offset by a **-2 bps** impact from unfavorable borrowing mix and rates[11](index=11&type=chunk) [Noninterest Income](index=3&type=section&id=Noninterest_Income) Noninterest income rose by $3.7 million (4%) to $98.5 million compared to the prior quarter Noninterest Income Breakdown (Q2 2025 vs Q1 2025) | Category | Q2 2025 Value (in millions) | Change vs. Q1 2025 (in millions) | | :--- | :--- | :--- | | **Total Noninterest Income** | **$98.5M** | **+$3.7M (+4%)** | | Trust Fees | $22.8M | +$4.7M (+26%) | | Bank Card & ATM Fees | $22.0M | +$1.3M (+6%) | | Secondary Mortgage Operations | $4.1M | +$0.7M (+20%) | | Investment & Annuity/Insurance | $10.6M | -$0.8M (-7%) | | Other Noninterest Income | $14.8M | -$2.3M (-13%) | - The acquisition of Sabal Trust Company on May 2, 2025, contributed **$3.6 million** to trust fees in the quarter[14](index=14&type=chunk) [Noninterest Expense & Taxes](index=3&type=section&id=Noninterest_Expense_and_Taxes) Noninterest expense increased by $10.9 million (5%) to $216.0 million, largely due to $5.9 million in one-time expenses related to the Sabal Trust Company acquisition - Total noninterest expense rose to **$216.0 million**, up **$10.9 million** from Q1 2025. This included **$5.9 million** in one-time acquisition expenses for Sabal Trust Company[16](index=16&type=chunk) - The acquisition-related expenses included **$1.4 million** in personnel costs and **$4.5 million** in other expenses, primarily professional services[17](index=17&type=chunk)[19](index=19&type=chunk) - The effective income tax rate for the second quarter of 2025 was **21.5%**[19](index=19&type=chunk) [Financial Statements](index=7&type=section&id=Financial_Statements) This section provides detailed financial statements, including income statement, balance sheet, average balance sheet, and asset quality information, for Q2 2025 and comparative periods [Financial Highlights](index=7&type=section&id=Financial_Highlights) This section provides a consolidated, high-level overview of the company's financial performance and condition Selected Financial Highlights | Metric (Q2 2025) | Value | | :--- | :--- | | Net Income | $113.5M | | Diluted EPS | $1.32 | | Total Assets (Period-End) | $35.2B | | Total Loans (Period-End) | $23.5B | | Total Deposits (Period-End) | $29.0B | | Return on Average Assets | 1.32% | | Net Interest Margin (TE) | 3.49% | | Efficiency Ratio | 54.91% | [Income Statement](index=9&type=section&id=Income_Statement) The detailed income statement shows a net income of $113.5 million for Q2 2025, a decrease from $119.5 million in Q1 2025 Income Statement Summary (in thousands) | Line Item | Q2 2025 (in thousands) | Q1 2025 (in thousands) | Q2 2024 (in thousands) | | :--- | :--- | :--- | :--- | | Net Interest Income | $276,959 | $269,905 | $270,430 | | Provision for Credit Losses | $14,925 | $10,462 | $8,723 | | Noninterest Income | $98,524 | $94,791 | $89,174 | | Noninterest Expense | $215,979 | $205,059 | $206,016 | | **Net Income** | **$113,531** | **$119,504** | **$114,557** | [Balance Sheet](index=11&type=section&id=Balance_Sheet) The period-end balance sheet as of June 30, 2025, shows total assets of $35.2 billion, an increase from the prior quarter Period-End Balance Sheet Summary (in thousands) | Line Item | June 30, 2025 (in thousands) | March 31, 2025 (in thousands) | June 30, 2024 (in thousands) | | :--- | :--- | :--- | :--- | | Total Loans | $23,461,750 | $23,098,146 | $23,911,616 | | Total Assets | $35,212,652 | $34,750,680 | $35,412,291 | | Total Deposits | $29,046,612 | $29,194,733 | $29,200,718 | | Total Common Stockholders' Equity | $4,365,419 | $4,278,672 | $3,920,718 | [Average Balance Sheet and Net Interest Margin Summary](index=12&type=section&id=Average_Balance_Sheet_and_Net_Interest_Margin_Summary) This section details the average balances for assets and liabilities during the quarter, which form the basis for the Net Interest Margin (NIM) calculation Net Interest Margin (TE) Summary (Q2 2025) | Metric | Value (%) | | :--- | :--- | | Average Earning Assets | $32.1B | | Average Earning Assets Yield (TE) | 5.06% | | Total Cost of Funds | 1.57% | | Net Interest Spread (TE) | 2.46% | | **Net Interest Margin (TE)** | **3.49%** | [Asset Quality Information](index=15&type=section&id=Asset_Quality_Information) This provides a detailed breakdown of asset quality metrics Asset Quality Metrics (June 30, 2025) | Metric | Value (in millions) | | :--- | :--- | | Nonaccrual Loans | $94.9M | | Nonaccrual Loans as a % of Loans | 0.40% | | Total Allowance for Credit Losses (ACL) | $340.3M | | ACL as a % of Period-End Loans | 1.45% | | Net Charge-Offs (Q2 2025) | $17.8M | [Other Information](index=4&type=section&id=Other_Information) This section provides details on the upcoming conference call, clarifies the use of non-GAAP financial measures, and includes reconciliations for these metrics [Conference Call Information](index=4&type=section&id=Conference_Call_Information) Management will host a conference call for analysts and investors to review the second quarter 2025 results - A conference call to discuss Q2 2025 results is scheduled for **July 15, 2025, at 3:30 p.m. Central Time**[22](index=22&type=chunk) [Non-GAAP Financial Measures and Forward-Looking Statements](index=4&type=section&id=Non-GAAP_Financial_Measures_and_Forward-Looking_Statements) This section clarifies the use of non-GAAP financial measures, such as figures presented on a fully taxable equivalent (TE) basis, adjusted pre-provision net revenue (PPNR), and an adjusted efficiency ratio - The company uses non-GAAP measures, including presenting net interest income and margin on a taxable-equivalent (TE) basis, to enhance comparability[25](index=25&type=chunk)[26](index=26&type=chunk) - Adjusted Pre-Provision Net Revenue (PPNR) and an adjusted Efficiency Ratio are presented to exclude certain items, such as acquisition costs, to better reflect ongoing business trends[27](index=27&type=chunk)[28](index=28&type=chunk) - The release contains forward-looking statements regarding performance, growth, and economic conditions, which are subject to significant risks and uncertainties[29](index=29&type=chunk)[31](index=31&type=chunk) [Appendix A: Reconciliation of Non-GAAP Measures](index=17&type=section&id=Appendix_A_Reconciliation_of_Non-GAAP_Measures) This appendix provides the necessary reconciliations for the non-GAAP measures used in the report Reconciliation to Adjusted Pre-Provision Net Revenue (TE) (Q2 2025, in thousands) | Line Item | Amount (in thousands) | | :--- | :--- | | Net Income (GAAP) | $113,531 | | Plus: Provision for credit losses | $14,925 | | Plus: Income tax expense | $31,048 | | Plus: Taxable equivalent adjustment | $2,496 | | Plus: Sabal Trust acquisition expense | $5,911 | | **Adjusted pre-provision net revenue (TE)** | **$167,911** | Efficiency Ratio Calculation (Q2 2025, in thousands) | Line Item | Amount (in thousands) | | :--- | :--- | | Total revenue (TE) | $377,979 | | GAAP Noninterest expense | $215,979 | | Less: Amortization of intangibles | ($2,524) | | Less: Sabal Trust acquisition expense | ($5,911) | | **Adjusted noninterest expense** | **$207,544** | | **Efficiency ratio** | 54.91% |

Company Overview - Hancock Whitney Corporation is a bank and financial holding company based in Gulfport, MS, operating through 180 full-service bank branches and 222 ATMs across Mississippi, Alabama, Louisiana, Florida, and Texas [12] - The company also has loan and deposit production offices in Nashville, TN, and Atlanta, GA [12] Investment Ratings - Hancock Whitney is rated 2 (Buy) on the Zacks Rank, indicating a favorable investment outlook [13] - The company has a VGM Score of B, suggesting a combination of attractive value, growth, and momentum characteristics [13] Performance Metrics - Hancock Whitney's shares have increased by 10.8% over the past four weeks, highlighting strong momentum [13] - Two analysts have revised their earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.02 to $5.53 per share [13] - The company boasts an average earnings surprise of +7.2%, indicating a history of exceeding earnings expectations [13] Investment Considerations - With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, Hancock Whitney is recommended for investors' consideration [14]