Every material Form 8-K Hancock Whitney filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Hancock Whitney's boards voted on October 24, 2024 to expand each board from 14 to 15 directors and appoint Moses Feagin as an independent director, effective November 15, 2024. Feagin is currently Executive Vice President, Treasurer, and Chief Financial Officer of Alabama Power, a subsidiary of Southern Company, and the company says his utility financial reporting background will add financial expertise to the boards and the Audit Committee.
Boards increase from 14 to 15 directors; Feagin appointed effective November 15, 2024
Feagin joins the Audit Committee, Board Risk Committee, and Credit Risk Management Sub-Committee
Receives 100 shares of common stock, fully vested on issuance, to meet Mississippi bank holding company director ownership rules
Will stand for election at the 2025 annual shareholder meeting
Hancock Whitney reported third-quarter 2024 net income of $115.6 million, or $1.33 per diluted share, up from $114.6 million, or $1.31 per share, in the second quarter and $97.7 million, or $1.12 per share, a year earlier. Total loans and deposits both declined from June 30, and criticized commercial loans rose sharply, so shareholders get higher earnings alongside weaker balance sheet trends.
Net income of $115.6 million and diluted EPS of $1.33, versus $1.31 in Q2 2024 and $1.12 in Q3 2023
Total loans fell $456.0 million to $23.5 billion, and total deposits fell $217.8 million to $29.0 billion, from June 30, 2024
Criticized commercial loans rose to $508.0 million from $379.8 million; nonaccrual loans fell to $82.9 million from $86.3 million
Company repurchased 300,000 shares at an average price of $50.60 during the quarter; buyback program expires December 31, 2024
Hancock Whitney reported second-quarter 2024 net income of $114.6 million, or $1.31 per diluted share, up from $108.6 million, or $1.24 per share, in the first quarter. The first quarter included a $3.8 million FDIC special assessment charge, and the second quarter had none; year-over-year, net income was below the $117.8 million, or $1.35 per share, reported for the second quarter of 2023. Total deposits fell $575.2 million in the quarter, and management expects modest net interest margin expansion in the second half of 2024.
Diluted EPS of $1.31 versus $1.24 in the first quarter of 2024 and $1.35 in the second quarter of 2023
Net interest margin (TE) of 3.37%, up 5 basis points from 3.32% in the first quarter
Total deposits of $29.2 billion at June 30, 2024, down $575.2 million from March 31, 2024
Quarterly cash dividend raised to $0.40 per share from $0.30; repurchased 312,993 shares at an average price of $46.69
Hancock Whitney Corporation said Executive Vice President and Chief Banking Officer Cecil W. "Chip" Knight, Jr. will leave the company effective July 5, 2024, to pursue other interests. His banking responsibilities will move to D. Shane Loper, the company's Chief Operating Officer and president of Hancock Whitney Bank, and Commercial, Consumer, and Wealth Management will report directly to Loper.
Chip Knight, Jr., EVP and Chief Banking Officer, announced departure on April 25, 2024
Departure effective July 5, 2024; filing says he is leaving to pursue other interests
D. Shane Loper, COO and Hancock Whitney Bank President, assumes CBO responsibilities
Commercial, Consumer, and Wealth Management business lines will report directly to Loper
Hancock Whitney reported first-quarter 2024 net income of $108.6 million, or $1.24 per diluted share, compared with $50.6 million, or $0.58, in the fourth quarter of 2023. Compared with the first quarter of 2023, when net income was $126.5 million, or $1.45 per share, profit declined, and adjusted pre-provision net revenue fell 3% from the prior quarter. The results matter to shareholders because the quarter-over-quarter gain was largely driven by the absence of fourth-quarter charges, while the year-over-year decline shows lower earnings.
Net income was $108.6 million, or $1.24 per diluted share, versus $50.6 million, or $0.58, in Q4 2023 and $126.5 million, or $1.45, in Q1 2023.
Excluding supplemental disclosure items, EPS was $1.28, up $0.02 from the prior quarter.
Adjusted pre-provision net revenue was $152.9 million, down $4.6 million, or 3%, linked-quarter.
Management expects 2024 period-end loan and deposit growth to be low single digits compared with year-end 2023.
Hancock Whitney reported fourth-quarter 2023 net income of $50.6 million, or $0.58 per diluted share, down from $1.12 in the third quarter and $1.65 a year earlier. The results include a $75.4 million net charge tied to a securities portfolio restructuring loss, a parking facility sale gain and an FDIC special assessment, which the company excludes from its adjusted figures.
Net income was $50.6 million, or $0.58 per diluted share, versus $97.7 million, or $1.12, in Q3 2023 and $143.8 million, or $1.65, in Q4 2022.
The net charge of $75.4 million, or $0.68 per diluted share after tax, includes a $65.4 million loss on the securities portfolio restructuring and a $26.1 million FDIC special assessment, partly offset by a $16.1 million parking facility sa
Excluding these items, EPS would have been $1.26, up $0.14 linked-quarter.
No shares were repurchased in Q4 2023; the buyback authorization expires December 31, 2024.
Hancock Whitney disclosed that Senior Executive Vice President Joseph S. Exnicios, who also serves as president of Hancock Whitney Bank, announced his retirement on January 2, 2024, effective March 1, 2024. The filing does not name a successor or describe any financial impact.
Joseph S. Exnicios announced his retirement on January 2, 2024.
Retirement takes effect March 1, 2024.
Exnicios serves as Senior Executive Vice President of the company and President of Hancock Whitney Bank.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Hancock Whitney filing is on SEC EDGAR ↗. 8-K briefs of other companies →