$HWCPZ

HANCOCK HOLDING CO

CIK:0000750577|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income:
Loans, including fees	$ 338,931	$ 338,413	$ 670,286	$ 669,901
Loans held for sale	745	399	1,111	740
Securities-taxable	65,169	54,046	127,294	105,945
Securities-tax exempt	3,286	4,007	6,996	8,225
Short-term investments	4,756	5,716	8,582	13,091
Total interest income	412,887	402,581	814,269	797,902
Interest expense:
Deposits	102,565	117,766	207,011	238,273
Short-term borrowings	14,504	4,865	23,393	6,710
Long-term debt	2,806	2,991	5,688	6,055
Total interest expense	119,875	125,622	236,092	251,038
Net interest income	293,012	276,959	578,177	546,864
Provision for credit losses	13,775	14,925	26,947	25,387
Net interest income after provision for credit losses	279,237	262,034	551,230	521,477
Noninterest income:
Securities transactions, net			(98,595)
Other income	14,541	14,761	31,915	31,814
Total noninterest income	108,350	98,524	115,832	193,315
Noninterest expense:
Compensation expense	105,579	95,875	204,367	184,827
Employee benefits	24,612	20,637	52,972	46,032
Personnel expense	130,191	116,512	257,339	230,859
Net occupancy expense	13,857	13,825	26,986	27,405
Equipment expense	4,410	4,541	8,567	8,632
Data processing expense	31,701	33,448	64,497	64,698
Professional services expense	14,538	16,371	28,138	28,606
Amortization of intangible assets	2,222	2,524	4,770	4,637
Deposit insurance and regulatory fees	5,019	4,822	10,007	9,848
Other real estate and foreclosed assets expense, net	214	1,181	655	2,961
Other expense	23,284	22,755	45,225	43,392
Total noninterest expense	225,436	215,979	446,184	421,038
Income before income taxes	162,151	144,579	220,878	293,754
Income taxes expense	35,190	31,048	46,495	60,719
Net income	$ 126,961	$ 113,531	$ 174,383	$ 233,035
Earnings per common share-basic	$ 1.56	$ 1.32	$ 2.14	$ 2.70
Earnings per common share-diluted	1.55	1.32	2.12	2.69
Dividends paid per share	$ 0.50	$ 0.45	$ 1.00	$ 0.90
Weighted average shares outstanding-basic	80,934	85,577	81,302	85,833
Weighted average shares outstanding-diluted	81,485	85,943	81,868	86,203
Service charges on deposit accounts
Noninterest income:
Service charges on deposit accounts	$ 25,897	$ 24,256	$ 51,799	$ 48,375
Trust fees
Noninterest income:
Service charges on deposit accounts	26,049	22,753	50,623	40,775
Bank card and ATM fees
Noninterest income:
Service charges on deposit accounts	23,181	22,004	45,307	42,718
Investment and annuity fees and insurance commissions
Noninterest income:
Service charges on deposit accounts	14,617	10,603	27,189	22,018
Secondary mortgage market operations
Noninterest income:
Service charges on deposit accounts	$ 4,065	$ 4,147	$ 7,594	$ 7,615

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 174,383	$ 233,035
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,620	15,021
Provision for credit losses	26,947	25,387
Gain on other real estate and foreclosed assets	(654)	(388)
Deferred income tax expense	5,261	17,199
Increase cash surrender value of life insurance contracts	(15,808)	(9,396)
Loss on disposal of assets	169	99
Loss on securities transactions, net	98,595
Net increase in loans held for sale	(19,461)	(8,673)
Net amortization of securities premium/discount	6,171	6,775
Amortization of intangible assets	4,770	4,637
Stock-based compensation expense	12,656	11,964
Net change in derivative collateral liability	8,689	(22,017)
Net decrease in interest payable and other liabilities	(20,541)	(19,528)
Net increase in other assets	(23,821)	(26,395)
Other, net	(4,322)	2,265
Net cash provided by operating activities	265,654	229,985
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of securities available for sale	1,414,258
Proceeds from maturities of securities available for sale	261,738	198,383
Purchases of securities available for sale	(1,781,832)	(514,808)
Proceeds from maturities of securities held to maturity	245,081	199,570
Proceeds from termination of fair value hedges	1,657
Net (increase) decrease in short-term investments	(382,816)	335,106
Net purchases of Federal Home Loan Bank stock	(41,234)	(12,318)
Proceeds from sales of loans and leases	101,847	49,756
Net increase in loans	(752,229)	(244,216)
Purchases of property and equipment	(6,786)	(7,758)
Net cash paid in business acquisition		(112,071)
Proceeds from sales of other real estate and foreclosed assets	6,920	3,238
Other, net	3,563	(4,118)
Net cash used in investing activities	(929,833)	(109,236)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	349,986	(446,239)
Net increase in short-term borrowings	553,678	405,912
Dividends paid	(82,567)	(78,237)
Payroll tax remitted on net share settlement of equity awards	(9,186)	(6,628)
Proceeds from dividend reinvestment and stock purchase plans	2,383	2,212
Repurchase of common stock	(141,071)	(60,177)
Net cash provided by (used in) financing activities	673,223	(183,157)
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS	9,044	(62,408)
CASH AND DUE FROM BANKS, BEGINNING	562,995	574,910
CASH AND DUE FROM BANKS, ENDING	572,039	512,502
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES
Assets acquired in settlement of loans	$ 5,774	$ 5,691

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and due from banks	$ 572,039	$ 562,995
Interest-bearing bank deposits	514,887	132,037
Federal funds sold	195	229
Securities available for sale, at fair value (amortized cost of $6,340,945 and $6,341,322)	6,006,220	5,961,917
Securities held to maturity (fair value of $1,755,583 and $2,011,026)	1,885,139	2,132,882
Loans held for sale (includes $42,867 and $33,158 measured at fair value)	52,850	33,158
Loans	24,580,173	23,958,440
Less: allowance for loan losses	(312,608)	(307,731)
Loans, net	24,267,565	23,650,709
Property and equipment, net of accumulated depreciation of $376,395 and $370,818	254,807	261,181
Right of use assets, net of accumulated amortization of $80,695 and $73,527	102,433	102,056
Prepaid expenses	66,138	58,847
Other real estate and foreclosed assets, net	12,858	14,788
Accrued interest receivable	141,675	138,509
Goodwill	925,404	925,404
Other intangible assets, net	62,300	67,071
Life insurance contracts	811,843	798,509
Funded pension assets, net	301,301	292,437
Deferred tax asset, net	41,665	55,798
Other assets	326,653	284,235
Total assets	36,345,972	35,472,762
Deposits
Noninterest-bearing	10,336,866	10,374,991
Interest-bearing	19,292,894	18,904,783
Total deposits	29,629,760	29,279,774
Short-term borrowings	1,570,970	1,017,292
Long-term debt	193,823	199,407
Accrued interest payable	14,544	14,485
Lease liabilities	122,476	121,505
Other liabilities	370,265	380,182
Total liabilities	31,901,838	31,012,645
Stockholders' equity:
Common stock	309,513	309,513
Capital surplus	1,352,528	1,491,219
Retained earnings	3,127,514	3,035,636
Accumulated other comprehensive loss, net	(345,421)	(376,251)
Total stockholders' equity	4,444,134	4,460,117
Total liabilities and stockholders' equity	$ 36,345,972	$ 35,472,762
Preferred shares authorized (par value of $20.00 per share)	50,000,000	50,000,000
Common shares authorized (par value of $3.33 per share)	350,000,000	350,000,000
Common shares issued	92,947,000	92,947,000
Common shares outstanding	80,471,000	82,259,000