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EX - 99.1 2 hwc - ex991_6.htm EX - 99.1 HANCOCE Η WHITNEY FOR IMMEDIATE RELEASE April 20 , 2021 Exhibit 99.1 For more information Trisha Voltz Carlson , EVP , Investor Relations Manager 504.299.5208 or trisha.carlson@hancockwhitney.com Hancock Whitney reports first quarter 2021 EPS of $ 1.21 Results include a modest reserve release and the impact from recent stimulus programs _ GULFPORT , Miss . ( April 20 , 2021 ) — Hancock Whitney Corporation ( Nasdaq : HWC ) today announced its financial results for the first quarter of 2021. Net income for the first quarter of 2021 was $ 107.2 million , or $ 1.21 per diluted common share ( EPS ) , compared to $ 103.6 million , or $ 1.17 per diluted common share , in the fourth quarter of 2020. The company reported a net loss for the first quarter of 2020 of $ 111.0 million , or ( $ 1.28 ) per diluted common share resulting from a COVID - 19 reserve build . First Quarter 2021 Highlights • • • Net income of $ 107.2 million , or $ 1.21 per diluted share , up $ 3.6 million , or $ 0.04 per share • • Pre - provision net revenue ( PPNR ) totaled $ 131.5 million , up $ 0.9 million Negative provision for credit losses of $ 4.9 million ; $ 23.2 million reserve release , $ 18.3 million in net charge - offs • Allowance Credit Losses ( ACL ) remained strong at 2.11 % • • Nonperforming loans declined 20 % and criticized commercial loans declined 11 % Net interest margin ( NIM ) 3.09 % , down 13 bps linked - quarter mainly from the impact of excess liquidity . CET1 ratio estimated at 11.02 % , up 41 bps linked - quarter • TCE ratio 7.26 % , down 38 bps , resulting from balance sheet growth ( 7.80 % excluding PPP ) Loans declined $ 125.1 million linked - quarter , as core loans decreased $ 465.5 million , partly offset by net PPP growth of $ 340.4 million Deposits increased $ 1.5 billion linked - quarter , mainly from pandemic - related PPP and stimulus deposit funding " 2021 is starting off on an encouraging note with earnings up almost $ 4 million , or $ .04 , linked quarter ” , said John M. Hairston , President & CEO . " Today's operating environment is heading in a decidedly more positive direction compared to the end of last year , and as such , we are releasing a modest amount of loan loss reserves , while maintaining solid capital ratios and reporting improved operating leverage . We see signs of cautious optimism across our footprint , however loan growth remains limited net of PPP . Asset quality metrics continue to improve across our lines of business and geographic areas as businesses and consumers have received PPP and stimulus funding . This funding has also led to excess liquidity on our balance sheet , thereby further compressing NIM . Net interest income does benefit from the growth however , and we are seeing green shoots in fee income . We are continuing our focus on expense and efficiency initiatives all leading to pre - provision , net revenue ( PPNR ) growth for the quarter . "