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The $19.3 billion-asset company plans to merge its Hancock Bank and Whitney Bank subsidiaries in the first quarter of 2014, pending regulatory approval, it said Thursday.
November 7 -
Hancock Holding (HBHC) in Gulfport, Miss., reported lower quarterly earnings after taking a charge tied to branch closures and other expense reductions.
October 25 -
Bank mergers, failures and charter consolidations are cutting into the exam fees that provide the financial lifeblood for regulators in Idaho, Montana and other states. Their attempts to balance the budget can cause small banks to pay higher fees.
October 10 -
Expense control is getting extra attention at several smaller banks this earnings season, though the reasons for the scrutiny vary depending on the institution.
July 26 -
Hancock Holding (HBHC) has agreed to sell 10 Whitney Bank branches that the Gulfport, Miss., company had planned to close, as well as loans and deposits associated with the branches.
July 22
Hancock Holding (HBHC) in Gulfport, Miss., missed earnings estimates in the fourth quarter as the company took $17.1 million in charges related to cost-cutting measures.
The company earned $34.7 million, a 26% decrease from the same period in 2012. Earnings per share of 41 cents were 15 cents lower than the estimates of analysts polled by Bloomberg.
Noninterest expense climbed 10%, to $174.2 million, primarily because of $17.1 million in one-time costs related to Hancock's expense and efficiency initiative. Hancock announced in May 2013 that it would
In the fourth quarter, Hancock
Hancock's net interest income fell 8%, to $168.5 million. While total loans grew 6%, to $12.3 billion, income from short-term investments and time deposits fell. Its net interest margin was 4.09%, down 39 points from the same period a year ago.
Noninterest income totaled $59 million, an 8% decrease from the same period in 2012. The decline was largely driven by a falloff in revenue from secondary mortgage market operations.
Improved asset quality allowed Hancock to chop its loan-loss provision by 74%, to $7.3 million. Net chargeoffs on non-covered loans plunged 81%, to $5.2 million.
The $19 billion-asset Hancock announced in November plans to