Hancock Whitney Corporation

Business and latest results

Hancock Whitney is a Southern U.S. banking group serving consumers and businesses through Hancock Whitney Bank. Deposits fund its lending business; credit quality, interest margins and regulatory capital are central measures of its financial health.

The quarter included $30.4 million of pretax OFB acquisition-related items: $29.4 million of expenses and $1.0 million of provision for acquired unfunded commitments.

September balance sheet and capital

At September 30, assets were $38.58 billion, deposits $32.18 billion and loans $26.54 billion. The common equity tier 1 capital ratio was 11.57%. Tangible book value per share, excluding goodwill and other intangibles, was $37.83. These are actual quarter-end figures, separate from the proposed merger's closing estimates.

One Florida Bank acquisition completed

Hancock Whitney acquired OFB Bancshares, parent of One Florida Bank, on August 1, 2026 for $377.6 million in cash. It added approximately $1.7 billion in loans and $1.9 billion in deposits. One Florida Bank operated five financial centers around Orlando and one in the Florida Panhandle. Full integration and system conversion were expected in Q4 2026. Acquired balances explain part of the quarter's growth.

Trustmark: pending acquisition and expected payoff

The November 11 agreement, announced November 12, offers 0.7463 Hancock Whitney shares for each Trustmark share. The approximately $3.2 billion headline value uses the buyer's November 11 closing price, rather than a fixed cash offer. Legacy Hancock Whitney shareholders would own about 65% of the combined company.

Closing is expected in late Q1 2027, requiring both shareholder and regulatory approvals. Systems and brand conversion are planned for late 2027.

Management models $205.5 million of annual pretax net expense savings, equal to 35% of Trustmark's noninterest expense base. It expects 37.5% of the savings in 2027 and full savings thereafter, with $250 million of estimated pretax merger costs. Revenue synergies are excluded.

The model projects 2028 earnings per share of $8.23, against $7.71 standalone, and assumes about 2.4 million shares are repurchased that year. Estimated closing tangible book value per share falls from $40.89 standalone to $38.10 combined, about 7% dilution. The projected earnback is 2.8 years including merger expenses. Estimated closing common equity tier 1 capital is 11.2%, distinct from September's actual ratio.