Hancock Whitney Q1 2021 Earnings Report
Key Takeaways
Hancock Whitney reported a net income of $107.2 million, or $1.21 per diluted common share (EPS) for the first quarter of 2021, compared to $103.6 million, or $1.17 per diluted common share, in the fourth quarter of 2020.
Net income of $107.2 million, or $1.21 per diluted share, up $3.6 million, or $0.04 per share
Pre-provision net revenue (PPNR) totaled $131.5 million, up $0.9 million
Negative provision for credit losses of $4.9 million; $23.2 million reserve release, $18.3 million in net charge-offs
Nonperforming loans declined 20% and criticized commercial loans declined 11%
Hancock Whitney
Hancock Whitney
Forward Guidance
Management expects core loans to remain stable in the second quarter of 2021, as opportunities for new organic growth remain low in light of the slow economic environment. Management expects continued NIM compression in the second quarter of 2021, however net interest income should remain relatively stable.