Hancock Whitney's third-quarter EPS slips to $1.36 on One Florida Bank deal costs

Hancock Whitney's reported third-quarter profit fell as it absorbed costs from buying One Florida Bank, though earnings excluding those charges rose from the prior quarter.

Net income was $110.1 million, or $1.36 a diluted share, compared with $127.0 million, or $1.55, in the second quarter and $127.5 million, or $1.49, a year earlier, according to the earnings release filed with an 8-K on Tuesday.

The Gulfport, Mississippi-based lender closed its acquisition of OFB Bancshares, parent of One Florida Bank, on Aug. 1. Third-quarter results include a $30.4 million pre-tax charge, or 30 cents a share, of items tied to the deal. Excluding them, EPS would have been $1.66, up 11 cents from the second quarter.

Balance sheet grows

Total loans rose $2.0 billion, or 8%, in the quarter to $26.5 billion, including $1.7 billion acquired from OFB. Deposits climbed $2.5 billion, or 9%, to $32.2 billion, including $1.9 billion from the acquisition.

Net interest margin widened five basis points to 3.61%, and the efficiency ratio improved to 54.46%.

Credit

The provision for credit losses was $16.1 million, versus $13.8 million in the second quarter. Net charge-offs were $10.2 million, or 0.16% of average loans annualized. Criticized commercial loans decreased while nonaccrual loans increased, and the allowance for credit losses held at 1.42% of loans.

Capital

The deal ate into capital ratios. The estimated common equity Tier 1 ratio fell to 11.53% from 13.19%, and the tangible common equity ratio dropped to 8.05% from 9.78%.

The company repurchased one million shares at an average of $77.91 during the quarter and paid a 50-cent quarterly dividend, up from 45 cents a year earlier.

By the numbers

• Diluted EPS: $1.36, vs. $1.55 in Q2 and $1.49 a year earlier
• Adjusted EPS: $1.66
• OFB-related pre-tax charge: $30.4 million
• Total loans: $26.5 billion
• Net interest margin: 3.61%
• CET1 ratio: 11.53% (estimated)

Sources

1. Hancock Whitney Corporation, Form 8-K (Items 2.02 and 7.01) with Exhibit 99.1 earnings release, filed Oct. 20, 2026, accession 0001193125-26-426654

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