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Hancock Whitney Corporation 2020 Annual Report

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Hancock Whitney Corporation 2020 Annual Report Hancock Whitney Corporation 2020 Annual Report Hancock Whitney 2020 Annual Report Annual 2020 Whitney Hancock Honor & Integrity Strength & Stability Commitment to Service Teamwork Personal Responsibility Your Dream. Our Mission. hancockwhitney.com Earnings Per Share – Diluted Hancock PPNR Whitney(TE)(a) Corporation (in millions) Corporate Information $491.2 4.0 $3.72 $3.72 500 Financial$455.2 Highlights $434.4 Annual Meeting Financial Information 3.5 $401.8 The annual meeting of stockholders will be held at 10:30 a.m. Central Time, Copies of Hancock Whitney Corporation financial reports, including its 3.0 400 $2.48 $323.4 Wednesday, April 21, 2021, virtually. Annual Report on Form 10-K filed with the Securities and Exchange 2.5 (Dollars in thousands, except per share amounts) 2020 2019 2.0 $1.87 300 Commission, are available without charge upon request to: Corporate Offices 1.5 INCOME STATEMENT DATA Trisha Voltz Carlson 200 1.0 Net income (loss) ($45,174) $327,380 Hancock Whitney Plaza Executive Vice President 0.5 2510 14th Street Investor Relations Manager 0.0 100 Net interest income (TE)* $955,523 $909,991(TE) PPNR Gulfport, MS 39501 Hancock Whitney Corporation -0.5 Pre-provision net revenue (PPNR) (TE) (a) $491,159 (in millions)$455,221 500 228-868-4000 Post Office Box 4019 ($0.54) 0 -1.0 $434.4 800-522-6542 2016 2017 2018 2019 2020 2016COMMON2017 SHARE2018 DATA2019 2020 $401.8 Gulfport, MS 39502-4019 400 Earnings per share – diluted ($0.54) $323.4$3.72 [email protected] $286.7 Subsidiaries of Hancock Whitney Corporation 300 $256.4 Book value per share (period-end) $39.65 $39.62 Hancock Whitney Investment Services, Inc. Earnings releases and other financial information about the company are Total Loans TangibleTotal book Depositsvalue per share (period-end) 200 $28.79 $28.63 available on the company’s Investor Relations website: Earnings Per Share – Diluted Earnings Per PPNR Share(TE)(a) – Diluted PPNR(TE)(a) Hancock Whitney Bank (in billions) (in billions) (in millions) Cash dividends(in millions) per share 100 $1.08 $1.08 Hancock Whitney Equipment Finance, LLC investors.hancockwhitney.com 25 $491.2 30 $491.2 4.0 $3.72 $3.72 4.0500 $3.72 $3.72$455.2 500 $455.2 $27.7 $434.4 $21.2 $21.8 Market data$434.4 Hancock Whitney Equipment Finance and Leasing, LLC 3.5 3.5 0 $401.8 $20.0 25 $401.8 $23.2 $23.8 20 $19.0 High$22.3 sales price $44.24 $44.74 3.0 3.0400 400 2014 2015 2016 2017 2018 Hancock Whitney New Markets Fund, LLC $2.48 $16.8 $2.48 $19.4 2.5 2.5 $323.4 20 $323.4Low sales price $14.32 $33.63 Board of Directors $1.87 30015 $1.87 300 Common Stock 2.0 2.0 Jerry L. Levens* Constantine “Dean” S. Liollio 15 Period-end closing price $34.02 $43.88 1.5 1.5 The company’s Common Stock is traded on the NASDAQ Global Select Return on Average Assets Frank E. Bertucci Sonya C. Little 1.0 1.020010 200 Market under the symbol HWC. 10 PERIOD-END BALANCE SHEET DATA (Operating)* 0.5 0.5 Hardy B. Fowler Thomas H. Olinde Securities $7,356,497 $6,243,3131.25% 5 1.3 0.0 0.0100 100 5 PPNR(TE) PPNR(TE) 1.21% Stockholder Information John M. Hairston Christine L. Pickering Loans 1.2 $21,789,931 $21,212,755 -0.5 -0.5 (in millions) (in millions) Stockholders seeking information may call the Transfer Agent at ($0.54) 0 ($0.54) 0 500 500 1.1 Randall W. Hanna Robert W. Roseberry -1.0 -1.00 0 Earning assets $434.4 $30,616,277 $27,622,161 $434.4 888-490-1239, email [email protected], access on the website 2016 2017 2018 2019 2020 20162016 20172017 20182018 20192019 20202020 2016201620172017201820182019201920202020 $401.8 1.0 0.96% $401.8 James H. Horne Joan C. Teofilo 400Total assets 400 $33,638,602 $30,600,757 www.astfinancial.com, or write: $323.4 0.9 $323.4 Suzette K. Kent C. Richard Wilkins $286.7 $286.7 300Total deposits $256.4 300 0.8 $27,697,877$256.4 $23,803,575+54 bps American Stock Transfer & Trust Company, LLC 0.67% 6201 15th Avenue Common stockholders’ equity 0.7 $3,439,0250.66% $3,467,685 Earnings PerTotal Share Loans – Diluted PPNRTotalTotal (TE)(a)Loans Deposits 200 Total Deposits 200 Brooklyn, NY 11219 0.6 (in billions) (in (inmillions) (inbillions) billions) PERFORMANCE(in billions) RATIOS $491.2 100 100 Corporate & Affiliate Bank Officers 500 0.5 Stockholders may also contact the company directly by emailing 4.0 25 $3.72 $3.72 25 30 $455.2 $27.7 30 $27.7 $434.4 Return on average assets (0.14)% 1.12% $21.2 $21.8 $21.2 $21.8 0.4 [email protected]. John M. Hairston Cindy S. Collins 3.5 $401.8 0 0 2015 2016 2017 2018 2019 $20.0 25 $20.0$23.2 $23.8 25 Return on average$23.2 common$23.8 equity (1.32)% 9.91% 3.0 20 $19.0 400 20 $19.0$22.3 $22.32014 2015 2016 2017 2018 2014 2015 2016 2017 2018 President & CEO Chief Compliance Officer $16.8$2.48 $16.8 2.5 $323.4$19.4 $19.4 Dividend Reinvestment and Stock Purchase Plan 20 20 Net interest margin (TE)* 3.27% 3.44% $1.87 300 Stockholders seeking full details about the plan may call 888-490-1239, Michael M. Achary Alan M. Ganucheau 2.0 15 15 Efficiency ratio (b) 60.07% 58.50% 1.5 15 15 email [email protected], access on the website www.astfinancial.com, Chief Financial Officer Treasurer Allowance for loan losses as percent of period-end loans 2.07% 0.90% 1.0 10 200 10 Return on Average Assets Return on Average Assets or write: 0.5 10 10 Tangible common equity(Operating)* ratio (c) 7.64%(Operating)*8.45% Joseph S. Exnicios Cecil “Chip” W. Knight, Jr. 100 (TE) 1.25% 1.25% American Stock Transfer & Trust Company, LLC 0.0 5 5 1.3 PPNR 1.21% 1.3 1.21% President, Hancock Whitney Bank Chief Banking Officer 5 5 Return on average tangible common equity (1.82)% 13.66% 6201 15th Avenue -0.5 1.2 (in millions) 1.2 ($0.54) 500 Brooklyn, NY 11219 -1.0 0 0 0 0 0 Leverage1.1 (Tier 1) ratio $434.4 1.1 7.88% 8.76% D. Shane Loper Miles S. Milton 2016201620172017201820182019201920202020 201620162016201720172017201820182018201920192019202020202020 2016 2017 2018 2019 2020$401.8 Chief Operating Officer Chief Wealth Management Officer 400 1.0 0.96% 1.0 0.96% $323.4 Cash Dividend Direct Deposit $286.70.9 0.9 300 Stockholders may elect to have their Hancock Whitney Corporation dividends Joy Lambert Phillips Michael Otero 0.8 $256.4 +54 bps 0.8 +54 bps 0.67% 0.67% directly deposited into a checking, savings, or money market account. This General Counsel & Chief Risk Officer 0.7 0.66% 0.7 0.66% Total Loans Total Deposits 200 service provides a safe, convenient method of receiving dividends and Corporate Secretary (in billions) (in billions) 0.6 0.6 Rudi Hall Wetzel 100 is offered at no cost to stockholders. To obtain more information and an 25 30 $27.7 0.5 0.5 Stephen E. Barker Chief Human Resources Officer $21.8 enrollment form, call 888-490-1239, email [email protected], access $21.2 0.4 0.4 $20.0 $23.8 0 Sr. Accounting & $19.0 25 $23.2 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 on the website www.astfinancial.com, or write: 20 $22.3 *Taxable equivalent2014 (TE)2015 amounts2016 are calculated2017 using a 2018federal income tax rate of 21% for years ended Finance Executive Christopher S. Ziluca $16.8 $19.4 20 December 31, 2018, December 31, 2019 and December 31, 2020 and 35% for all other years presented. American Stock Transfer & Trust Company, LLC Chief Credit Officer 15 6201 15th Avenue (a) Pre-provision net revenue is net interest income (TE)* and noninterest income less noninterest expense. Joshua R. Caldwell 15 Brooklyn, NY 11219 Chief Internal Auditor Management Returnbelieves that on PPNR Average is a useful Assets financial measure because it enables investors to assess the 10 company’s ability to generate capital to cover credit losses through a credit cycle. 10 (Operating)* (b) The efficiency ratio is noninterest expense1.25% to total net interest income (TE)* and noninterest income, 5 1.3 1.21% 5 excluding amortization of purchased intangibles and nonoperating items. 1.2 0 0 (c) The1.1 tangible common equity ratio is common stockholders’ equity less intangible assets divided by total 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 assets1.0 less intangible assets.0.96% *Independent Chairman of the Board 0.9 0.8 +54 bps 0.67% 0.7 0.66% 0.6 0.5 0.4 2015 2016 2017 2018 2019 Financial Highlights We ended 2020 on a positive note, with a fourth quarter EPS of $1.17, despite reporting a $0.54 loss for the year. This loss is due, in part, to COVID-19 and its impact on the economy beginning in mid-March 2020. In the first quarter, we began building a reserve for potential credit losses. In total, we added almost $443 million to the allowance for credit losses in 2020, largely related to borrowers financially impacted by COVID-19.
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