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HAN WH OCK W EY ● FOR IMMEDIATE RELEASE July 20 , 2021 For more information Trisha Voltz Carlson , EVP , Investor Relations Manager 504.299.5208 or trisha.carlson@hancockwhitney.com Hancock Whitney reports second quarter 2021 EPS of $ 1.00 Results include $ 42.2 million , or $ 0.37 per share after tax , of net nonoperating items GULFPORT , Miss . ( July 20 , 2021 ) - Hancock Whitney Corporation ( Nasdaq : HWC ) today announced its financial results for the second quarter of 2021. Net income for the second quarter of 2021 was $ 88.7 million , or $ 1.00 per diluted common share ( EPS ) , compared to $ 107.2 million , or $ 1.21 per diluted common share , in the first quarter of 2021. The company reported a net loss for the second quarter of 2020 of $ 117.1 million , or ( $ 1.36 ) per diluted common share resulting from a COVID - 19 reserve build and the sale of $ 497 million of energy loans . The second quarter of 2021 included $ 42.2 million , or $ 0.37 per share after - tax , of net nonoperating items . The items include the previously announced branch closures ( 20 ) , subordinated debt redemption and Voluntary Early Retirement Program ( VERP ) , plus the cost associated with an additional 18 branch closures and a 200 - position reduction in force . These costs were partially offset by a gain on the sale of Mastercard class B common stock ( Mastercard stock ) . The first quarter of 2021 and second quarter of 2020 did not include any nonoperating items . Second Quarter 2021 Highlights Net income of $ 88.7 million , or $ 1.00 per diluted share , down $ 18.5 million , or $ 0.21 per share Results include $ 42.2 million , or $ 0.37 per share after tax , of net nonoperating items Pre - provision net revenue ( PPNR ) totaled $ 137.2 million , up $ 5.7 million , or 4 % , linked - quarter Negative provision for credit losses of $ 17.2 million resulted from a $ 27.7 million reserve release and $ 10.5 million in net charge - offs Allowance for Credit Losses ( ACL ) remained strong at 2.03 % Nonperforming loans declined 24 % and criticized commercial loans declined 5 % Net interest margin ( NIM ) compressed 13 basis points ( bps ) to 2.96 % , mainly from the impact of excess liquidity driven by PPP forgiveness and deposit growth TCE ratio 7.70 % , up 44 bps Loans declined $ 516.3 million linked - quarter ; net PPP forgiveness of $ 928.1 million partially offset by core loan growth of $ 411.8 million Deposits increased $ 62.6 million linked - quarter , mainly from continued pandemic - related PPP and stimulus deposit funding " I am very pleased to report a continuation of improving performance as solid second quarter operating results either met or exceeded expectations for the quarter , " said John M. Hairston , President and CEO . " Growth in core loans ( excluding PPP ) exceeded expectations as our bankers and support teams worked diligently to close business , with our full workforce returning to the office . Elevated levels of excess liquidity continue to compress our margin , however , net interest income remained flat given our ongoing efforts to minimize the impact of today's rate environment . As our markets have re - opened , economic activity has picked up as evidenced by the 1