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Jun 30, 2023
Hancock Whitney Q2 2023 Earnings Report
Hancock Whitney's performance reflected stable balance sheet with loan growth funded by client deposit growth and securities portfolio runoff, offset by NIM compression due to DDA remix and higher deposit betas.
Key Takeaways
Hancock Whitney reported a net income of $117.8 million, or $1.35 per diluted share, for Q2 2023. Loan growth was funded by client deposit growth and runoff from the securities portfolio. The DDA remix continues to drive higher deposit betas for the quarter, and, in turn, higher than expected NIM compression.
Pre-provision net revenue (PPNR) totaled $157.8 million.
Deposits increased $430.4 million, or 6% LQA.
Loan growth of $385.4 million, or 7% LQA.
ACL coverage remained solid at 1.45%.
Hancock Whitney
Hancock Whitney
Forward Guidance
Management expects 2023 period-end loan growth to be in the range of low- to mid-single digits compared to year-end 2022. Management expects 2023 period-end deposit level growth to be flat to low single digits compared to year-end 2022.