By Connor Hart
Hancock Whitney posted a higher profit in the fourth quarter as deposits grew.
The bank holding company on Tuesday reported a profit of $122.1 million, or $1.40 a share, in the quarter, compared with $50.6 million, or 58 cents a share, in the same quarter a year ago. The recent quarter didn't include any supplemental disclosure items, while last year's comparable quarter included a $75.4 million supplemental disclosure item, the company said.
The company said it booked a provision for credit losses of $11.9 million, compared with a provision of $18.6 million in the third quarter.
Pre-provision net revenue, which is total revenue less noninterest expense, stood at $165.2 million from $166.5 million in the prior quarter.
Loans fell 1% sequentially to $23.3 billion, hurt by an increase in payoffs of commercial real estate credits. Total deposits rose 2% sequentially to $29.5 billion, primarily due to an increase in interest-bearing public funds driven by seasonal inflows, the bank said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 21, 2025 16:21 ET (21:21 GMT)
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