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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36872 HANCOCK WHITNEY CORPORATION (Exact name of registrant as specified in its charter) Mississippi 64-0693170 (State or other ...

Group 1 - Hancock Whitney (NASDAQ: HWC) has experienced mixed fortunes over the past five months, with improvements in its bottom line [1] - The company focuses on a long-term, buy-and-hold investment strategy, particularly in stocks that can sustainably generate high-quality earnings [1] - The bank is primarily involved in the dividend and income investment sector [1] Group 2 - The article reflects the author's personal opinions and does not involve any compensation from companies mentioned [2] - There is a beneficial long position in HWC shares, indicating confidence in the company's future performance [2]

Core Viewpoint - Hancock Whitney (HWC) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that rising earnings estimates can lead to increased stock prices [4][6]. - Hancock Whitney is projected to earn $5.46 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 2.6% [8]. Analyst Sentiment and Market Position - Analysts have raised their earnings estimates for Hancock Whitney, with the Zacks Consensus Estimate increasing by 4.1% over the past three months [8]. - The upgrade to Zacks Rank 2 places Hancock Whitney in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10].

Core Insights - Hancock Whitney (NASDAQ: HWC) shares have increased by 14% over the past year but have experienced a decline of approximately 20% from their recent highs due to market sell-off [1] Group 1: Company Performance - HWC reported solid earnings for Q1, indicating strong financial performance despite recent market challenges [1] Group 2: Market Context - The company has a history of making contrarian bets based on macro views and stock-specific turnaround stories, aiming for outsized returns with a favorable risk/reward profile [1]

Core Insights - Hancock Whitney (HWC) reported revenue of $364.7 million for Q1 2025, a 3% year-over-year increase, with EPS of $1.38 compared to $1.28 a year ago, indicating a positive trend in earnings performance [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $364.77 million, resulting in a revenue surprise of -0.02%, while the EPS exceeded expectations by 7.81% [1] Financial Performance Metrics - Net interest margin (TE) was reported at 3.4%, matching the average estimate from four analysts [4] - The efficiency ratio was 55.2%, better than the average estimate of 56.5% from four analysts [4] - Total net charge-offs as a percentage of average loans stood at 0.2%, aligning with the estimate from three analysts [4] - Average balance of total interest-earning assets was $32.02 billion, slightly below the estimate of $32.32 billion [4] - Total nonperforming loans were reported at $104.21 million, better than the estimate of $105.41 million [4] - Total nonperforming assets amounted to $130.90 million, lower than the average estimate of $138.12 million [4] - Total noninterest income was $94.79 million, exceeding the average estimate of $92.10 million [4] - Net interest income (TE) was $272.71 million, slightly below the average estimate of $276.21 million [4] - Net interest income was reported at $269.91 million, compared to the average estimate of $272.82 million [4] - Secondary mortgage market operations generated $3.47 million, surpassing the estimate of $3.25 million [4] - Bank card and ATM fees totaled $20.71 million, slightly below the average estimate of $20.92 million [4] - Investment and annuity fees and insurance commissions were reported at $11.42 million, lower than the estimate of $12.39 million [4] Stock Performance - Shares of Hancock Whitney have returned -7.3% over the past month, compared to a -3.9% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

What's Next for Hancock Whitney? Hancock Whitney, which belongs to the Zacks Banks - Southeast industry, posted revenues of $364.7 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.02%. This compares to year-ago revenues of $354.02 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly de ...

First Quarter 2025 Earnings Conference Call 4/15/2025 HANCOCK WHITNEY Important cautionary statement about forward-looking statements This presentation contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements that we may make include statements regarding our expectations of our performance and financial condition, balance sheet and revenue growth, the provisi ...

Financial Performance - Net income for Q1 2025 was $119.5 million, or $1.38 per diluted share, compared to $122.1 million, or $1.40 per diluted share in Q4 2024[1] - Net income for the three months ended March 31, 2025, was $119,504,000, compared to $122,074,000 for the previous quarter, reflecting a decrease of 1.3%[31] - Earnings per share (diluted) for the quarter was $1.38, compared to $1.40 in the previous quarter, a decline of 1.4%[31] - Pre-provision net revenue was reported at $159.6 million, a decrease from $162.4 million in the previous quarter, indicating a slight decline in profitability[50] - Total revenue (TE) for the quarter was $367.5 million, consistent with $367.5 million in the previous quarter, showing stable revenue generation[51] Asset and Loan Management - Total loans decreased by $201.3 million, or 1%, to $23.1 billion, driven by increased payoffs in large healthcare and commercial non-real estate credits[5] - Loans outstanding as of March 31, 2025, were $23,098,146,000, down from $23,299,447,000, a decrease of 0.9%[31] - Total loans decreased to $23,098,146,000 from $23,299,447,000, representing a decline of 0.86%[38] - Total average loans decreased slightly to $23.07 billion from $23.25 billion in the previous quarter, indicating a contraction in loan volume[47] Deposit Trends - Total deposits were $29.2 billion, down $298.1 million, or 1%, primarily due to a decrease in retail time deposits[6] - Total deposits decreased to $29,194,733,000 from $29,492,851,000, representing a decline of 1.0%[31] - Total deposits decreased to $28,752,416, down 1.22% from $29,108,381 in the previous quarter[40] Credit Quality and Allowance for Losses - The allowance for credit losses (ACL) was $343.2 million, with a coverage ratio of 1.49% of period-end loans, up from 1.47% at the end of Q4 2024[9] - The provision for credit losses was $10,462,000, down from $11,912,000, a decrease of 12.1%[31] - The provision for credit losses was $10.5 million, down from $11.9 million in the previous quarter, suggesting a more favorable outlook on credit risk[50] - Nonaccrual loans increased to $104.2 million as of March 31, 2025, up from $97.3 million at December 31, 2024, representing a 4.5% increase[47] - Net charge-offs for the quarter were $10.2 million, a decrease from $11.7 million in the prior quarter, reflecting improved credit quality[47] Capital and Equity - Common stockholders' equity increased to $4.3 billion, up $151.0 million, or 4%, from December 31, 2024[19] - The CET1 ratio was estimated at 14.51%, up 37 basis points linked-quarter, while the total risk-based capital ratio was 16.39%[19] - Common equity tier 1 (CET1) ratio improved to 14.51% from 14.14% in the previous quarter, indicating stronger capital position[38] - The tangible common equity ratio increased to 10.01% from 9.47%, reflecting a stronger capital position[31] Noninterest Income and Expenses - Noninterest income totaled $94.8 million, an increase of $3.6 million, or 4%, from the previous quarter[13] - Noninterest income increased to $94,791,000 from $91,209,000, marking a growth of 4.3%[31] - Total noninterest expense was $205,059,000, slightly up from $202,333,000 in the prior quarter, an increase of 0.85%[36] - Noninterest expense was $205.1 million, up $2.7 million, or 1%, linked-quarter[15] Efficiency and Profitability Ratios - Return on assets (ROA) was 1.41%, and net interest margin (NIM) increased to 3.43%, up 2 basis points from the prior quarter[3] - The efficiency ratio improved to 55.22% from 54.46%, indicating better cost management[31] - The efficiency ratio improved to 55.22%, compared to 54.46% in the prior quarter, indicating better cost management[51] Shareholder Actions - The company repurchased 350,000 shares at an average price of $59.25 per share as part of its share buyback program[19]

Financial Data and Key Metrics Changes - The company reported a net income of $120 million or $1.38 per share, down from $122 million or $1.40 per share in the previous quarter, but up 10% year-over-year [17] - The return on assets (ROA) was 1.41%, and the net interest margin (NIM) expanded by two basis points to 3.43% [8][18] - Total risk-based capital ended the quarter at 16.39%, with a common equity tier one ratio of 14.51% and a tangible common equity ratio of 10.01% [8][13] Business Line Data and Key Metrics Changes - Fee income is expected to increase by 9% to 10% year-over-year, driven by strong performance across most categories [10][25] - Loans decreased by $201 million due to higher payoffs in large healthcare and commercial non-real estate loans, with expectations for low single-digit loan growth in 2025 [10][11] - Deposits were down $298 million, primarily due to seasonal public fund outflows, but the DDA balance increased [12][21] Market Data and Key Metrics Changes - The company experienced a decrease in interest-bearing transaction accounts due to reduced promotional rates, while the DDA mix remained stable at 36% [12][21] - The overall cost of funds decreased by 14 basis points to 1.59%, with a reduction in deposit costs contributing to this decline [19][20] Company Strategy and Development Direction - The company plans to pivot to growth through both organic and inorganic means, including the acquisition of Sable Trust Company, expected to close on May 2nd [14][15] - The focus remains on granular, full-relationship loans to achieve favorable loan yields and relationship revenue [11] - The company is optimistic about growth prospects in the second half of the year despite current market volatility [15] Management's Comments on Operating Environment and Future Outlook - Management noted that client sentiment reflects some apprehension, but there is no immediate fear of a significant recession [46][47] - The company is closely monitoring macroeconomic trends and believes it is well-positioned to navigate challenges due to strong capital and liquidity [16][15] - Future guidance reflects expectations for modest NIM expansion and NII growth of 3% to 4% in 2025 [24] Other Important Information - The company repurchased 350,000 shares of common stock and increased its common stock dividend to 45 cents per share, a 50% increase from the previous year [13] - The criticized commercial loans decreased, while non-accrual loans increased at a slower pace than in the prior quarter [26] Q&A Session Summary Question: Why not increase the buyback given the capital accretion and slower loan growth outlook? - Management indicated that they are indeed increasing buybacks and are focused on maintaining or slightly increasing the current level of repurchases [34][36][38] Question: What are the current efforts to assess credit impacts from tariffs? - Management is evaluating various sectors that could be impacted and preparing plans for potential risks [40][41][44] Question: How much of the increase in the PPNR guide is related to Sable versus core performance? - The increase in the PPNR guide is attributed to both the expected contributions from Sable and continued growth in fee income lines [48][50] Question: Update on hiring process and its impact on growth outlook? - The company has added four bankers in Q1 and plans to hire 20 to 30 throughout the year, with a focus on high-growth markets [57][59][61] Question: Thoughts on M&A versus organic growth? - Currently, the focus is on returning capital to shareholders and organic growth, with M&A being considered for the future [69][70] Question: Expected CD maturities and rate benefits? - The company expects about $5.5 billion of CD maturities over the next three quarters, with a projected repricing benefit [124][125] Question: Loan growth expectations and pipeline comfort? - The company anticipates loan growth to be driven by new hires, with a strong pipeline expected for the second half of the year [132][136]