The following is a summary of the Hancock Whitney Corporation (HWC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Hancock Whitney reported a net income of $116 million in Q3 2024, reflecting a $1 million increase from last quarter.

• Return on assets was a peer-leading 1.92%.

• Net interest income (NII) increased, driven by higher yields on loans and securities, with net interest margin (NIM) expanding 2 basis points to 3.39%.

• Fee income grew significantly, contributed by investment and annuity fees, service charges on deposit accounts, and specialty income, showing an 8% increase from last quarter.

• Expenses were well controlled, down 1% from last quarter despite the hiring plans.

Business Progress:

• The bank has effectively managed its SNC portfolio, reducing exposure ahead of schedule, and plans further reductions.

• Strategic investments in fee income lines of business continue to yield impressive returns.

• There are efforts to recruit more bankers to support growth, especially in Texas and Florida.

• Capital ratios remain strong, supporting ongoing shareholder returns through share repurchases and solid capital metrics.

Opportunities:

• Hancock Whitney plans to hire additional staff to support expected balance sheet growth, with a particular focus on high-growth areas such as Texas and Florida, indicating potential market expansion and human capital opportunities.

Risks:

• The increased criticized loans mainly stemmed from the commercial loan book, attributed to the economic impacts and higher operating costs faced by clients. Despite some stabilization due to decreasing interest rates, the bank remains cautious, monitoring various sectors for potential downturns.

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