By Connor Hart
Hancock Whitney logged higher profit in the first quarter despite a decrease in total loans and deposits.
The bank holding company on Tuesday reported a profit of $119.5 million, compared with $108.6 million in the same quarter a year ago.
Per-share earnings came in at $1.38, topping the $1.29 that analysts surveyed by FactSet expected.
The company said it booked a provision for credit losses of $10.5 million, compared with a provision of $11.9 million in the fourth quarter.
Pre-provision net revenue, which is total revenue less noninterest expense, totalled $162.4 million, down from $165.2 in the prior quarter.
Total loans decreased 1% sequentially, to $23.1 billion, due to an increase in payoffs of healthcare and commercial non-real estate credits.
Total deposits also fell 1% sequentially, to $29.2 billion. The drop was primarily due to a decrease in retail time deposits, as well as a decrease in interest-bearing public funds, the bank said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 15, 2025 16:16 ET (20:16 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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