Fourth Quarter 2020 Earnings Conference Call 1/20/2021 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 may make include statements regarding our expectations regarding our performance and financial condition, balance sheet and revenue growth, the provision for c ...

Hancock Whitney Corporation (NASDAQ:HWC) Q4 2020 Earnings Conference Call January 20, 2021 5:00 PM ET Company Participants Trisha Carlson - EVP, IR Manager John Hairston - President and CEO Mike Achary - CFO Chris Ziluca - Chief Credit Officer Conference Call Participants Michael Rose - Raymond James Jennifer Demba - Truist Security Brett Rabatin - Hovde Group Kevin Fitzsimmons - D. A. Davidson Ebrahim Poonawala - Bank of America Merrill Lynch Catherine Mealor - KBW Brad Milsaps - Piper Sandler Matt Olney - ...

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 September 30, 2020 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 o ...

Hancock Whitney Corporation (NASDAQ:HWC) Q3 2020 Results Earnings Conference Call October 20, 2020 5:00 PM ET Company Participants Trisha Carlson - EVP, Investor Relations Manager John Hairston - President, Chief Executive Officer Mike Achary - Chief Financial Officer Chris Ziluca - Chief Credit Officer Conference Call Participants Michael Rose - Raymond James Brett Rabatin - Hovde Group Kevin Fitzsimmons - D.A. Davidson Catherine Mealor - KBW Brad Milsaps - Piper Sandler Ebrahim Poonawala - Bank of America ...

Financial Performance - Net income was $794 million, compared to a loss of $1171 million in 2Q20[8] - Pre-provision net revenue (PPNR) increased by $78 million, a 7% linked-quarter increase, totaling $1263 million[8] - The provision for credit losses was $25 million, and net charge-offs totaled $24 million; the allowance for credit losses (ACL) remained strong at 240% excluding PPP loans[8] - Net interest margin (NIM) remained stable at 323%[9] Loan Portfolio - Total loans amounted to $222 billion, a decrease of $388 million linked-quarter, reflecting the current economic environment[8, 12] - The company originated over 13000 PPP loans totaling $24 billion in rounds 1 and 2 of the program, with 11874 loans, or $785 million, in loans less than $350K[6, 14] - Energy loans accounted for $338 million, representing 17% of total loans, a decrease of $14 million, or 4%, linked-quarter[16, 23] Deposits and Capital - Total deposits decreased by $292 million linked-quarter, mainly due to a reduction in brokered CD funding, reaching $270 billion[8, 6] - The CET1 ratio increased to 1029%, up 51 bps, and the TCE ratio increased to 753%, up 20 bps[9] Expenses and Revenue - Noninterest expense totaled $1958 million, down $08 million, or less than 1%, linked-quarter[49, 50] - Noninterest income totaled $837 million, up $98 million, or 13% linked-quarter[48] Other Key Points - The overactive hurricane season impacted several Gulf Coast markets, but no material provision expense is expected from the impact of the hurricanes[10] - Criticized commercial loans increased by $64 million, or 18%, linked-quarter, reflecting the economic impact of COVID-19 on many clients[8] - Deferrals peaked on 5/14/20 at $36 billion of outstandings; totaled $284 million at 9-30-20[25]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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) 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, 2020 Mississippi 64-069317 ...

Hancock Whitney Corporation (NASDAQ:HWC) Q2 2020 Earnings Conference Call July 21, 2020 5:00 PM ET Company Participants Trisha Voltz Carlson - Executive Vice President and Investor Relations Manager John Hairston - President and Chief Executive Officer Michael Achary - Chief Financial Officer Christopher Ziluca - Chief Credit Officer Conference Call Participants Michael Rose - Raymond James & Associates, Inc. Kevin Fitzsimmons - D.A. Davidson & Co. Casey Haire - Jefferies LLC Brad Milsaps - Piper Sandler Eb ...

Part I. Financial Information [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Q1 2020 resulted in a **$111.0 million net loss**, primarily due to increased credit loss provisions and CECL adoption, reversing prior year's net income [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to **$31.76 billion** by March 31, 2020, driven by loans and deposits, while stockholders' equity slightly decreased due to net loss and accounting changes Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Assets** | **$31,761,693** | **$30,600,757** | | Loans, net | $21,089,678 | $21,021,504 | | Allowance for loan losses | ($426,003) | ($191,251) | | Goodwill | $855,453 | $855,453 | | **Total Liabilities** | **$28,340,629** | **$27,133,072** | | Total Deposits | $25,008,496 | $23,803,575 | | **Total Stockholders' Equity** | **$3,421,064** | **$3,467,685** | | Retained Earnings | $1,297,129 | $1,476,232 | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) The company reported a **$111.0 million net loss** for Q1 2020, a significant reversal from prior year's net income, primarily due to a substantial increase in provision for credit losses Consolidated Income Statement Summary (in thousands, except per share data) | Metric | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Net Interest Income | $231,188 | $219,254 | | Provision for credit losses | $246,793 | $18,043 | | Noninterest income | $84,387 | $70,503 | | Noninterest expense | $203,335 | $175,700 | | **Net income (loss)** | **($111,033)** | **$79,164** | | **Earnings (loss) per share-diluted** | **($1.28)** | **$0.91** | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies, including CECL adoption, which increased credit loss allowance and reduced retained earnings, and the impact of COVID-19 on loan modifications - The company adopted ASC 326 (CECL) on January 1, 2020, on a modified retrospective basis, materially changing how it estimates credit losses on financial instruments[29](index=29&type=chunk) Impact of CECL Adoption on Jan 1, 2020 (in thousands) | Account | CECL Adoption Impact | | :--- | :--- | | Allowance for loan and lease losses | $49,411 | | Reserve for unfunded lending commitments | $27,330 | | **Total Allowance for credit losses** | **$76,741** | | **Decrease to retained earnings (after tax)** | **$44,086** | - As of March 31, 2020, **1,618 customers** with loans totaling **$839.4 million** had received payment deferral modifications under the CARES Act, which are excluded from TDR reporting[78](index=78&type=chunk) - The company suspended its share repurchase program after repurchasing **4.9 million shares** out of **5.5 million authorized**, including settling an Accelerated Share Repurchase (ASR) agreement in March 2020[117](index=117&type=chunk)[118](index=118&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the **Q1 2020 net loss of $111.0 million** to the COVID-19 pandemic and declining oil prices, necessitating a large credit loss provision, while maintaining strong capital and liquidity - The Q1 2020 net loss of **$111.0 million** was driven by a **$246.8 million provision for credit loss** related to the COVID-19 pandemic and declining oil prices[196](index=196&type=chunk) - The company adopted the CECL accounting standard on January 1, 2020, and further increased its allowance for credit losses to **$475 million**, or **2.21% of total loans**[200](index=200&type=chunk) - Capital remains solid with a Common Equity Tier 1 (CET1) ratio of **10.03%**, and liquidity is strong with approximately **$14 billion** in available funding sources[200](index=200&type=chunk)[248](index=248&type=chunk) - The company is actively participating in the Paycheck Protection Program (PPP), originating **4,893 loans** totaling **$1.7 billion** in the initial phase and processing an additional **7,000 applications** for about **$800 million** in the second phase[194](index=194&type=chunk) [Results of Operations](index=42&type=section&id=Results%20of%20Operations) Q1 2020 net interest income (te) was **$234.6 million**, with net interest margin declining, and a **$246.8 million provision for credit losses** driven by economic downturn and a significant write-down Key Operating Metrics Comparison | Metric | Q1 2020 | Q4 2019 | Q1 2019 | | :--- | :--- | :--- | :--- | | Net Interest Income (te) | $234.6M | $236.7M | $223.1M | | Net Interest Margin (te) | 3.41% | 3.43% | 3.46% | | Provision for Credit Losses | $246.8M | $9.2M | $18.0M | | Noninterest Income | $84.4M | $82.9M | $70.5M | | Noninterest Expense | $203.3M | $197.9M | $175.7M | - Net charge-offs in Q1 2020 were **$43.8 million** (**0.83% of average loans**), up significantly from **$9.5 million** (**0.18%**) in Q4 2019, primarily due to **$35.9 million** in energy-related charge-offs[205](index=205&type=chunk)[206](index=206&type=chunk) - Other real estate and foreclosed asset expense was **$10.1 million**, which included a **$9.8 million non-cash write-down** of equity interests in two energy-related companies received in bankruptcy restructurings[230](index=230&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) The company strengthened liquidity in Q1 2020, ending with nearly **$14 billion in available funding**, maintained strong regulatory capital ratios with CECL transition benefits, and sustained its quarterly dividend - At March 31, 2020, the company had nearly **$14 billion** in net available sources of funds, including **$2.9 billion** from the FHLB and **$4.4 billion** from the Federal Reserve Bank[248](index=248&type=chunk)[252](index=252&type=chunk) - The company elected to use the five-year CECL transition rule, which delays the estimated impact on regulatory capital, favorably impacting the leverage ratio by **19 bps** and risk-based capital ratios by **22 bps**[260](index=260&type=chunk) Key Capital Ratios | Ratio | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Common equity tier 1 (CET1) | 10.02% | 10.50% | | Tier 1 leverage capital | 8.40% | 8.76% | | Tangible common equity ratio | 8.00% | 8.45% | - The company maintained its quarterly cash dividend of **$0.27 per share**, expressing confidence in its capital strength to sustain it[265](index=265&type=chunk) [Balance Sheet Analysis](index=54&type=section&id=Balance%20Sheet%20Analysis) Total loans grew to **$21.5 billion** at March 31, 2020, while the allowance for credit losses surged to **$475.0 million** (2.21% of loans) due to CECL and pandemic-related risks, with deposits also increasing - Total loans increased by **$302.9 million** (**1%**) QoQ to **$21.5 billion**, driven by increased originations and funding of credit lines[270](index=270&type=chunk) - The allowance for credit losses increased significantly to **$475.0 million**, or **2.21% of total loans**, at March 31, 2020, up from **0.92%** at December 31, 2019[280](index=280&type=chunk)[281](index=281&type=chunk) - The energy loan portfolio decreased to **$939.5 million** (**4.4% of total loans**), with an allowance coverage of **9.4%** of that portfolio[274](index=274&type=chunk)[282](index=282&type=chunk) - Total deposits grew by **$1.2 billion** (**5%**) QoQ to **$25.0 billion**, with noninterest-bearing deposits up **$429.0 million**[293](index=293&type=chunk)[294](index=294&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=62&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's balance sheet is asset-sensitive, projecting increased net interest income in a rising rate environment, and is actively managing the transition away from LIBOR for its variable rate loans Net Interest Income (NII) Sensitivity to Interest Rate Changes | Change in Interest Rates (bps) | Estimated Increase in NII (Year 1) | Estimated Increase in NII (Year 2) | | :--- | :--- | :--- | | +100 | 2.70% | 5.22% | | +200 | 5.70% | 10.37% | | +300 | 8.42% | 14.91% | - The company's interest rate risk profile is generally asset-sensitive, driven by variable rate loans and a significant volume of non-interest bearing deposits[320](index=320&type=chunk) - As of March 31, 2020, approximately **32%** of the loan portfolio consisted of variable rate loans tied to LIBOR, and the company is actively managing the transition away from this benchmark[322](index=322&type=chunk) [Controls and Procedures](index=63&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2020, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by this report (March 31, 2020)[323](index=323&type=chunk) - There were no material changes to the company's internal control over financial reporting during the first quarter of 2020[324](index=324&type=chunk) Part II. Other Information [Legal Proceedings](index=64&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course legal proceedings, which management does not expect to have a material adverse effect on its financial position or liquidity - The company is party to various legal proceedings arising in the ordinary course of business, but management does not believe they will have a material adverse effect on its financial position or liquidity[327](index=327&type=chunk) [Risk Factors](index=64&type=section&id=Item%201A.%20Risk%20Factors) The COVID-19 pandemic is a significant new risk, potentially impacting credit, operations, and interest rates, exacerbating existing concentration risks in real estate, energy, healthcare, and hospitality sectors - The COVID-19 pandemic is a primary risk factor, with potential adverse impacts on credit, collateral values, customer demand, funding, operations, and interest rate risk[329](index=329&type=chunk) - Credit risk is heightened as business shutdowns and economic instability may cause customers to be unable to make scheduled loan payments, potentially leading to significant delinquencies and credit losses[330](index=330&type=chunk) - Operational risks have increased due to remote work arrangements, including greater cybersecurity threats and reliance on third-party vendors who may also be experiencing disruptions[333](index=333&type=chunk)[334](index=334&type=chunk) - The company is subject to lending concentration risk, with substantial portions of its loan portfolio in real estate, energy, healthcare, and hospitality, which are particularly vulnerable to the current economic downturn[337](index=337&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=66&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2020, the company repurchased **1,317,323 shares** at an average price of **$35.56 per share**, including shares from an ASR settlement, with **570,807 shares** remaining in the program Share Repurchase Activity for Q1 2020 | Period | Total Shares Purchased | Average Price Paid | Shares Remaining in Program | | :--- | :--- | :--- | :--- | | Jan 2020 | 315,851 | $40.26 | 1,572,279 | | Feb 2020 | 0 | N/A | 1,572,279 | | Mar 2020 | 1,001,472 | $34.07 | 570,807 | | **Total Q1** | **1,317,323** | **$35.56** | **570,807** |

Financial Data and Key Metrics Changes - The company reported a loss of $111 million or $1.28 per share for Q1 2020, which included a provision for credit losses of $247 million or $2.24 per share [21] - Pre-provision net revenue (PPNR) was flat from Q4 2019 but up nearly 6.5% from the same quarter a year ago [22] - The allowance for credit losses (ACL) ended the quarter at $475 million or 2.21% of period-end loans, reflecting a significant increase of $280 million or 144% from the previous year-end under the old incurred loss model [26][27] Business Line Data and Key Metrics Changes - Net interest margin (NIM) reported a decline of 2 basis points from the previous quarter, primarily due to expected accretion runoff related to the merger with MidSouth and the impact of Fed rate cuts [23] - Fee income increased by $1.5 million from the previous quarter, driven mainly by tax credit sales and BOLI income, although service charges and card fees were negatively impacted by COVID-19 [24][25] Market Data and Key Metrics Changes - The company has seen pandemic-related pressure on its energy portfolio and potential impacts on markets most affected by economic restrictions [13] - The company is proactively managing its reserves in anticipation of challenges in the energy sector and the New Orleans hospitality market [39] Company Strategy and Development Direction - The company is focused on maintaining solid capital and liquidity levels, with a common Tier 1 equity ratio just over 10% and a target tangible common equity (TCE) ratio of 8% [17][31] - The company has suspended all previous guidance for 2020 due to the uncertainty surrounding COVID-19 but intends to maintain the common dividend at the current level [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the rapidly changing economic environment and the inherent limitations in projecting future results [4] - The company is prepared for potential additional reserving in future quarters, emphasizing a proactive approach to managing credit risk [40] Other Important Information - The company has participated in the SBA's Paycheck Protection Program, originating nearly 4,900 loans totaling $1.7 billion [9] - The company has made $2.5 million in direct contributions to communities and associates during the pandemic [10] Q&A Session Summary Question: Is the current reserve build sufficient? - Management indicated that the reserve build was a combination of historical lessons and current economic modeling, emphasizing a proactive approach to credit risk management [38][39] Question: What is the outlook for the TCE ratio? - Management expressed confidence in maintaining the TCE ratio at 8% or above, depending on future reserve needs and profitability [42]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-36872 Hancock Whitney Corporation (Exact name of registrant as specified in its charter) | Mississippi | | 64-0693170 | | | --- | --- | --- | --- | | (State or ...