Hancock Whitney Corporation - 6 (HWCPZ) Bundle
A Brief History of Hancock Whitney Corporation - 6
Hancock Whitney Corporation, headquartered in Gulfport, Mississippi, has a rich history dating back to 1899. Initially established as Hancock Bank in Bay St. Louis, Mississippi, the bank expanded its footprint through various economic cycles and regional development.
In 1982, Hancock Bank merged with Whitney National Bank, which was founded in New Orleans in 1883. This merger laid the groundwork for Hancock Whitney Corporation as we know it today. In 2010, the company officially rebranded itself as Hancock Whitney to reflect the legacy of both institutions.
As of September 30, 2023, Hancock Whitney reported total assets of approximately $35.2 billion, marking steady growth following the 2008 financial crisis. The bank has consistently focused on serving its clients in the Gulf Coast region, encompassing Louisiana, Mississippi, Alabama, and Florida.
The company has experienced significant growth in deposits, with total deposits reaching $30.1 billion in Q3 2023, an increase from $28.4 billion in the same period the previous year. The loan portfolio also expanded to $25.5 billion as of the end of Q3 2023.
Hancock Whitney's commitment to community and economic development is evident in its community reinvestment efforts. The bank has invested over $1.4 billion in loans and grants to support affordable housing and small businesses since 2010.
| Year | Total Assets (in billions) | Total Deposits (in billions) | Total Loans (in billions) |
|---|---|---|---|
| 2019 | 30.1 | 25.5 | 21.8 |
| 2020 | 30.5 | 27.3 | 22.5 |
| 2021 | 32.1 | 28.9 | 24.1 |
| 2022 | 33.8 | 29.8 | 25.0 |
| 2023 (Q3) | 35.2 | 30.1 | 25.5 |
In terms of stock performance, Hancock Whitney Corporation trades on the NASDAQ under the ticker symbol HWBC. The stock price has shown resilience, trading around $35.75 as of late September 2023, with a market capitalization of approximately $3.25 billion.
The company maintains a strong capital position, boasting a Common Equity Tier 1 (CET1) capital ratio of 10.5% as of Q3 2023, above the regulatory minimum requirements. The return on assets (ROA) stood at 1.2%, while the return on equity (ROE) was reported at 12.5%.
Hancock Whitney's focus on digital banking has led to an increase in online engagement, with over 60% of transactions now occurring through digital channels. This shift has positioned the bank well to adapt to changing consumer preferences and enhance operational efficiency.
Through strategic acquisitions and a commitment to regional growth, Hancock Whitney Corporation continues to solidify its place as a key player in the Southeastern banking market, driven by a focus on customer service and community involvement.
A Who Owns Hancock Whitney Corporation - 6
Hancock Whitney Corporation is a regional bank headquartered in Gulfport, Mississippi. As of the latest data available in 2023, ownership of Hancock Whitney is distributed among institutional investors, mutual funds, and individual shareholders.
The following table provides insights into the largest institutional shareholders who significantly influence the ownership structure of Hancock Whitney Corporation:
| Institution | Ownership (% of Shares) | Shares Owned | Market Value (in billions) |
|---|---|---|---|
| The Vanguard Group, Inc. | 10.5% | 4,250,000 | $0.22 |
| BlackRock, Inc. | 9.7% | 3,900,000 | $0.20 |
| Wellington Management Company, LLP | 8.3% | 3,300,000 | $0.17 |
| State Street Corporation | 5.5% | 2,200,000 | $0.12 |
| Invesco Ltd. | 4.0% | 1,600,000 | $0.09 |
| Other Institutional Investors | 12.0% | 4,800,000 | $0.25 |
As of October 2023, Hancock Whitney Corporation’s total shares outstanding are approximately 40.5 million, with a market capitalization of $2.20 billion. The presence of significant institutional investors indicates a solid foundation of stability and credibility within the market.
In terms of insider ownership, it's crucial to note that executives and board members also hold a portion of shares. The following table outlines key executives and their reported ownership stakes:
| Executive Name | Title | Ownership (Shares) | Ownership (% of Total) |
|---|---|---|---|
| John M. Hairston | President & CEO | 250,000 | 0.62% |
| Robert W. DeBaun | EVP & CFO | 150,000 | 0.37% |
| Jane S. Rhoades | EVP & CCO | 100,000 | 0.25% |
| Board Members | N/A | 50,000 | 0.12% |
With the executive team together owning approximately 1.36% of total shares, this adds another layer of accountability and alignment of interests between management and shareholders.
Hancock Whitney Corporation also has several notable mutual funds as shareholders, which can impact the bank’s governance and strategic direction. Notable mutual funds include:
- Vanguard Total Stock Market Index Fund
- Fidelity 500 Index Fund
- Invesco S&P SmallCap Low Volatility ETF
The ownership dynamics at Hancock Whitney Corporation reflect a diversified base of institutional investors and committed insiders, enabling the corporation to leverage both financial acumen and stability in their operations.
Hancock Whitney Corporation - 6 Mission Statement
The mission statement of Hancock Whitney Corporation emphasizes their commitment to serving clients, communities, and employees while fostering economic growth. They aim to provide exceptional financial services tailored to the needs of their customers, ensuring a positive impact on their communities.
Hancock Whitney operates under core values that reflect its dedication to integrity, respect, and transparency. Their mission is to inspire and empower individuals and businesses to achieve financial success. This aligns with their philosophy of building lasting relationships through personalized banking experiences.
| Year | Total Assets ($ millions) | Net Income ($ millions) | Return on Assets (%) | Return on Equity (%) |
|---|---|---|---|---|
| 2022 | 29,000 | 275 | 0.98 | 8.57 |
| 2021 | 27,000 | 242 | 0.92 | 7.72 |
| 2020 | 25,500 | 215 | 0.85 | 7.15 |
In 2022, Hancock Whitney's total assets reached $29 billion, marking an increase from $27 billion in 2021. The net income for 2022 was reported at $275 million, up from $242 million in 2021, indicating a strong growth trajectory.
The bank's Return on Assets (ROA) and Return on Equity (ROE) for 2022 were 0.98% and 8.57%, respectively. These figures suggest that Hancock Whitney effectively utilizes its assets and equity to generate profitable returns, reinforcing its mission to empower its clients and communities.
Hancock Whitney focuses on community engagement, reflected in their financial commitments and investments in local initiatives. Their operational strategy includes a focus on innovation, leveraging technology to enhance customer service and banking experiences.
| Community Investment ($ millions) | Employee Training Programs ($ millions) | Sustainable Practices Investment ($ millions) |
|---|---|---|
| 5.0 | 2.5 | 1.2 |
In 2022, Hancock Whitney invested $5 million in community development programs, highlighting their commitment to societal impact. Additionally, they allocated $2.5 million for employee training programs, ensuring that their workforce is well-equipped to meet emerging challenges. Sustainable practices received an investment of $1.2 million, demonstrating their commitment to environmental responsibility.
As of October 2023, Hancock Whitney Corporation continues to prioritize its mission through strategic growth initiatives, community involvement, and a focus on customer satisfaction. Their financial metrics and community investments echo their ongoing commitment to creating value for stakeholders, making them a significant player in the banking sector of the southeastern United States.
How Hancock Whitney Corporation - 6 Works
Hancock Whitney Corporation, established in 1899, operates primarily as a bank holding company. The firm's headquarters is located in Gulfport, Mississippi, and it serves clients across the southeastern United States.
The company provides a range of financial services including commercial banking, investment services, and wealth management. As of the third quarter of 2023, Hancock Whitney reported total assets of approximately $34.6 billion, with total deposits amounting to $29.3 billion.
Financial Performance
In the third quarter of 2023, Hancock Whitney posted a net income of $51.8 million, translating to earnings per share (EPS) of $0.75. The bank's return on assets (ROA) stood at 0.59% while the return on equity (ROE) was recorded at 8.18%.
The bank's net interest margin was 3.24%, slightly up from the previous quarter, indicating strong performance in its lending operations. Non-performing assets (NPAs) as a percentage of total assets were reported at 0.52%.
Loan Portfolio
As of September 30, 2023, Hancock Whitney's loan portfolio was diversified across various sectors. Here’s a breakdown of the loan segments:
| Loan Type | Amount ($ billion) | % of Total Loans |
|---|---|---|
| Commercial and Industrial | 8.5 | 35% |
| Real Estate | 10.2 | 42% |
| Consumer | 3.0 | 13% |
| Construction | 2.5 | 10% |
Market Presence
Hancock Whitney operates 218 branches across Mississippi, Louisiana, Alabama, Florida, and Texas. The bank continues to focus on expanding its digital banking services to enhance customer experience. As of the latest report, approximately 40% of all transactions were conducted through mobile and online platforms.
Stock Performance
The stock of Hancock Whitney Corporation trades on the NASDAQ under the ticker symbol HWC. As of October 2023, the stock price was approximately $29.50, representing a year-to-date increase of 12%. The company's market capitalization stood at about $1.9 billion.
Over the past five years, the average annual dividend growth rate has been around 8.5%, with a current dividend yield of 3.2%. Hancock Whitney’s commitment to returning value to shareholders remains a focal point of its financial strategy.
Risk Management
The company's risk management framework includes credit risk assessment, liquidity management practices, and market risk management strategies. As per the latest analysis, the Tier 1 capital ratio was reported at 10.5%, above the regulatory minimum of 6%.
Overall, Hancock Whitney Corporation's diverse financial services, strong asset base, and strategic growth initiatives position it well within the regional banking sector. The focus on operational efficiency and customer service continues to foster growth, enabling the bank to compete effectively in a challenging market landscape.
How Hancock Whitney Corporation - 6 Makes Money
Hancock Whitney Corporation operates as a financial holding company. The primary revenue streams include net interest income, non-interest income, and fees from various services. As of the latest financial reports, the bank leverages its assets to generate significant earnings.
Net Interest Income
Net interest income is a major component of Hancock Whitney's revenue, derived from the difference between interest earned on loans and interest paid on deposits. For the year ended December 31, 2022, the net interest income was approximately $300 million.
Loans and Mortgage Banking
The bank's loan portfolio is diverse, including commercial, residential, and consumer loans. As of Q3 2023, the total loans amounted to approximately $24.8 billion, with commercial real estate loans representing around $6.3 billion.
Deposit Base
The total deposits as of the same period were about $30.5 billion. The average cost of deposits stood at 0.12%, highlighting efficient management of the deposit base.
Non-Interest Income
The bank also generates non-interest income through various fees and service charges. For 2022, non-interest income was recorded at $86 million, driven by service fees and wealth management services.
Revenue Breakdown
| Revenue Source | Amount (in millions) |
|---|---|
| Net Interest Income | $300 |
| Non-Interest Income | $86 |
| Total Revenue | $386 |
Wealth Management Services
Hancock Whitney's wealth management division offers services such as asset management, financial planning, and fiduciary services. This segment has also seen growth, with assets under management reaching approximately $12 billion as of Q3 2023.
Investment Gains
Investment portfolios contribute to financial performance as well. In 2022, the bank reported gains from securities investments totaling around $25 million.
Operating Expenses
Efficient management of operating expenses is crucial for profitability. For 2022, Hancock Whitney's operating expenses were approximately $220 million, resulting in an efficiency ratio of about 57%.
Credit Quality
Maintaining a strong credit quality is vital for sustainable earnings. The non-performing loans ratio stood at 0.35% as of Q3 2023, reflecting effective risk management strategies.
Recent Financial Performance
In Q3 2023, Hancock Whitney reported a net income of approximately $90 million, representing a year-over-year increase of 12%.
Market Position
Hancock Whitney operates primarily in the Gulf South region, providing a competitive edge with a strong local brand and customer relationships. The bank continues to expand its footprint and enhance digital banking services, which have contributed to a 15% increase in digital banking users in the past year.
With a robust business model and a diversified revenue stream, Hancock Whitney Corporation continues to position itself for growth amid changing economic conditions.
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