📰 What This Document Is

This document is a Current Report on Form 8-K, which Hancock Whitney Corporation filed immediately following its first quarter of 2026 results. This filing is essentially a detailed press release and financial data package that informs investors and the public about the bank's performance for the quarter ending March 31, 2026. It helps readers understand how the bank's earnings, assets, and capital levels compared to previous periods.

👉 The Headline: While GAAP (Generally Accepted Accounting Principles) earnings were significantly impacted by a large one-time restructuring charge, adjusted earnings showed solid, quarter-over-quarter growth, confirming the bank's strong operational health.

🏦 🏢 What The Company Does

Hancock Whitney is a regional financial institution that has operated since the late 1800s. In simple terms, it helps people and communities achieve their financial goals by offering a wide range of financial products.

👉 Business Scope: The bank’s operations are focused across five states: Mississippi, Alabama, Florida, Louisiana, and Texas. They provide traditional and online banking, commercial and small business banking, private banking, trust services, and mortgage services.

💼 💡 Corporate Profile and Values

Hancock Whitney emphasizes its core values, which guide its operations and commitment to the community. The company highlights its longevity, stating it has been "Strong and Stable for More Than 125 Years."

👉 What Matters: These values—Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility—frame the bank's brand promise, suggesting a long-term, dependable relationship with its clients and community.

📊 💰 Financial Performance Highlights

The financial results for Q1 2026 show a significant decline in GAAP earnings compared to Q4 2025, but the adjusted numbers reveal underlying strength. The primary reason for the GAAP drop was a $98.6 million, or $0.95 per share, pretax charge related to restructuring its securities portfolio.

• Net Income (GAAP): Q1 2026 net income was $47.4 million, or $0.57 per diluted common share. This was down significantly from $125.6 million, or $1.49 per diluted common share, reported in the fourth quarter of 2025.
• Adjusted Earnings: By excluding the one-time restructuring item, Adjusted EPS was $1.52, representing an increase of $0.03 linked-quarter compared to the prior quarter.
• Key Ratios: The Net Interest Margin (NIM) was 3.55%, which was up 7 basis points (bps) from the previous quarter.

🏘️ 🏦 Loans and Assets Overview

The bank’s loan book continues to grow, primarily in commercial sectors, though deposits show signs of seasonal decline. Total loans increased to $24.0 billion at March 31, 2026, a rise of $33 million, or 1% linked-quarter annualized (LQA).

• Loan Growth Drivers: This growth was mainly fueled by increased commercial real estate loans and continued expansion in equipment finance.
• Future Outlook: Hancock Whitney expects year-over-year loan growth to be in the mid-single digits for the end of the year (EOP).
• Loan Composition: The loan portfolio remains diverse, with the largest single segment being Commercial non-RE loans, which accounted for $7,403 million (30.9%) of total commercial loans.

💧 💸 Deposits and Funding Stability

Total deposits decreased to $29.1 billion at March 31, 2026, a decrease of $198 million, or 3% LQA. This decrease was mostly attributed to seasonal outflows in public funds.

• Deposit Sources: While overall deposits dipped, the bank noted increased interest-bearing transaction and savings deposits, totaling $12.2 billion, representing a 2% increase linked-quarter due to competitive products and pricing.
• Stability Measures: The bank maintains a strong deposit base, with Noninterest-bearing Demand Deposit Accounts (DDA) making up 36% of total period-end deposits.
• Liquidity: The bank reports a strong position with approximately $18.7 billion in remaining net liquidity available as of March 31, 2026.

🛡️ ⚖️ Asset Quality and Reserves

The bank's asset quality metrics remain robust and are viewed as stable. The Allowance for Credit Losses (ACL) was $343.7 million at March 31, 2026.

• Charge-offs: Net charge-offs in Q1 2026 were $11.1 million, or 0.19% of average total loans on an annualized basis, which was a decrease compared to the 0.22% rate seen in Q4 2025.
• Loan Categories: Criticized commercial loans totaled $522.2 million (2.79% of total commercial loans), and nonaccrual loans totaled $113.3 million (0.47% of total loans), both metrics showing relative stability.
• Coverage: The ratio of ACL to period-end loans held solid at 1.43% at March 31, 2026.

📈 🌐 Profitability and Efficiency Metrics

The core profitability metrics, after accounting for the one-time charges, point to controlled growth. The Net Interest Margin (NIM) increased to 3.55%, up 7 bps linked-quarter.

• Profit Drivers: The NIM improvement was driven by higher securities yields (+$5 bps) and a lower cost of funds (+8 bps).
• Cost Control: The Efficiency Ratio was 55.43% in Q1 2026, showing a slight increase from 54.93% in the prior quarter, indicating careful management of expenses relative to revenue.
• Revenue Mix: Adjusted Noninterest Income was $106.1 million, down only 1% linked-quarter, showing resilience despite the large restructuring charge.

💹 💰 Capital & Capital Actions

The bank's capital structure is solid, and management is actively returning value to shareholders. The Common Equity Tier 1 (CET1) ratio was estimated at 13.30%, and the total risk-based capital ratio was estimated at 15.10%.

• Capital Buffer: The CET1 ratio remains well above regulatory minimums, providing a strong cushion against potential economic downturns.
• Shareholder Returns: The company proactively returned capital by repurchasing 1.4 million shares of common stock at an average price of $67.55 per share.
• Dividend Increase: Shareholders also benefited from an 11% increase in the common stock dividend, bringing the payment to $0.50 per share.

🛡️ ⚙️ Strategic and Operational Focus

Hancock Whitney emphasized its focus on sustainable, long-term growth and operational efficiency. These priorities are reflected in both its strategic objectives and its balance sheet management.

• Three-Year Goal (CSO): The bank set a long-term objective of maintaining an Efficiency Ratio of "$\le 55%$," which aligns with its current Q1 2026 performance.
• Staffing/Growth: The bank continues to invest in revenue generation, notably hiring 27 net new bankers in Q1 2026, with plans to hire up to 50 net new bankers in 2026.
• Expense Control: The company has enacted expense reduction initiatives, such as closing 12 financial centers in Q4 2020, demonstrating a commitment to operational optimization.

🗣️ 🗣️ Executive Leadership Commentary

The bank’s President & CEO, John M. Hairston, provided strong commentary affirming the company's financial position and strategic momentum.

• CEO's View: Mr. Hairston stated, “Profitability remains strong, with adjusted ROA of 1.43%, an efficiency ratio of 55.43%, and solid fee income and well-controlled expenses.”
• Strategy Highlight: He reiterated the focus on "sustainable long-term organic balance sheet growth," suggesting the bank is positioned for sustained, natural expansion rather than relying on large, single-period gains.

📅 📅 Future Guidance and Key Dates

Hancock Whitney provided detailed guidance for the full year 2026, signaling confidence in its core operational strengths despite external economic risks.

• Loans (EOP): Expect end-of-period loan growth to be in the mid-single digits from 2025 levels.
• Deposits (EOP): Expect end-of-period deposit levels to be up low-single digits from 2025 levels.
• NII (te): The company expects Net Interest Income (te) to be up between 5%–6% from the full year 2025.
• Guidance Disclaimer: The guidance is contingent on "no rate cuts in 2026," highlighting the sensitivity of the bank's projections to Federal Reserve policy.

📞 📧 Contact & Next Steps

For investors who wish to follow up on the results, the bank provided specific details for the conference call and investor relations resources.

• IR Contact: Kathryn Shrout Mistich, SVP, Investor Relations, can be reached at [email protected] or 504.539.7836.
• Call Details: An analyst and investor conference call was held on Tuesday, April 21, 2026, and replay details were available through April 28, 2026.

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🧠 The Analogy

Think of Hancock Whitney like a large, skilled gardener. The Q1 2026 report is like showing the photos from the first quarter: some pictures are slightly blurred or show a big maintenance crew doing deep structural work (the restructuring charges), making the instant comparison to last year's perfect photos look uneven. However, when the photos are corrected and analyzed for underlying health—the adjusted numbers—the gardener is shown to be thriving. The bank is showing that even with significant necessary cleanup and large, one-time costs, the core soil (the customer base and capital) is rich, the seeds (loans and deposits) are growing, and the garden (the balance sheet) is still stable and ready for future seasons of growth.

🧩 Final Takeaway

Hancock Whitney's core business performance in Q1 2026 was strong and stable, as evidenced by the robust adjusted metrics (like adjusted EPS of $1.52 and an NIM of 3.55%). While the GAAP net income declined due to a one-time $98.6 million restructuring charge, the bank signaled confidence with conservative forward guidance and proactive capital returns, positioning itself for continued organic growth.