Hancock Whitney reports Q2 2026 EPS of $1.55, announces $377.6M One Florida Bank acquisition

The company disclosed its second quarter 2026 financial results. The 8-K itself does not contain the actual financial figures; those are in the attached press release (Exhibit 99.1), which was not provided in the input text.

Hancock Whitney announced it will hold an investor call and webcast on July 21, 2026 at 3:30 p.m. Central Time to discuss second quarter 2026 financial results. The 8-K furnishes presentation materials as Exhibit 99.2 alongside the earnings press release.

Criticized commercial loans totaled $492.0 million, or 2.55% of total commercial loans, down from $522.2 million, or 2.79%, in the prior quarter. Nonaccrual loans were $113.7 million, or 0.46% of total loans, virtually unchanged from $113.3 million, or 0.47%, in the prior quarter. The allowance for credit losses remained solid at 1.42% of loans.

Hancock Whitney announced the acquisition of One Florida Bank during the second quarter and expects to close the transaction on August 1, 2026. The acquisition is part of the company's growth strategy in Florida.

Hancock Whitney reported second-quarter 2026 net income of $127.0 million, or $1.55 per diluted share, up sharply from $47.4 million, or $0.57 per diluted share, in the prior quarter. The prior quarter included a $98.6 million pretax loss on a securities portfolio restructure; excluding that item, adjusted EPS was $1.52 in Q1 versus $1.55 in Q2. Return on assets was 1.42% and return on tangible common equity was 14.84%.

Hancock Whitney announced the acquisition of One Florida Bank for $377.6 million in cash, representing 200% of tangible book value per share and 14.4x estimated 2026 core earnings per share. The transaction adds $1.7 billion in loans and $1.8 billion in deposits, with expected cost savings of 40% ($15.8 million) phased in fully by 2027. The deal is expected to close August 1, 2026, following receipt of regulatory approvals and shareholder approval, with tangible book value earnback of approximately $377.6 million four years and high single-digit EPS accretion.

Net interest margin (taxable equivalent) was 3.56% in the second quarter of 2026, up 1 basis point from 3.55% in the prior quarter. The increase was driven by a higher investment portfolio yield following the first-quarter securities portfolio restructuring and lower cost of deposits, partially offset by an unfavorable borrowing mix. The company expects flat to modest net interest margin expansion in the second half of 2026, assuming a flat rate environment.

Common equity Tier 1 ratio was estimated at 13.18% at June 30, 2026, down 11 basis points from the prior quarter, while tangible common equity ratio was 9.78%, down 15 basis points. The company repurchased 712,966 shares of common stock during the second quarter at an average price of $68.28 per share, with 2 million shares remaining under its existing buyback authority through December 31, 2026. Capital deployment continues through organic growth and share repurchases.