Hancock Whitney Q2 2022 Earnings Report
Key Takeaways
Hancock Whitney Corporation reported a net income of $121.4 million, or $1.38 per diluted common share, for the second quarter of 2022. The results reflect core loan growth, improved net interest margin, and the achievement of the target efficiency ratio.
Pre-provision net revenue (PPNR) totaled $146.9 million, up 9% linked-quarter.
Core loan growth of $706.2 million, or 13% linked-quarter annualized, leading to an overall increase in total loans of $522.7 million.
NIM improved 23 basis points (bps) to 3.04%.
Achieved 55% efficiency ratio target (54.95%).
Hancock Whitney
Hancock Whitney
Forward Guidance
Management expects 2022 period-end deposit levels to remain flat to slightly down compared to year-end 2021. Our guidance for the year of 6%-8% core growth in 2022 is unchanged, with a bias towards the upper end of the range. We expect loan growth to moderate in the third quarter of 2022 with a rebound towards the end of the year.