Hancock Holding Company reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, net income was $40.1 million or $0.48 per diluted common share compared to $34.7 million, or $0.41 in the fourth quarter of 2013. Operating income was $46.4 million, or $0.56 per diluted common share compared to $45.8 million, or $0.55, in the fourth quarter of 2013. Core income was $41.5 million or $0.50 per diluted common share, up from $32.8 million, or $0.39, in the fourth quarter of 2013. Net interest income (TE) was $160,813,000 against $166,007,000 a year ago. Return on average assets was 0.79% against 0.84% a year ago. Return on average assets (operating) was 0.92% against 1.04% a year ago. Return on average common equity was 6.34% against 6.51% a year ago. Return on average common equity (operating) was 7.33% against 7.71% a year ago. Return on average tangible common equity was 9.08% against 8.79% a year ago. Return on average tangible common equity (operating) was 10.50% against 11.59% a year ago. Core income was $41,537,000 against $38,736,000 a year ago.

For the full year, the company reported net interest income (TE) of $654,694,000 against $680,731,000 a year ago. Net income was $175,722,000 or $2.10 per basic and diluted share against $163,356,000 or $1.93 per diluted share a year ago. Operating income was $194,145,000 against $187,990,000 a year ago. Book value per share as on December 31, 2014 was $30.74 against $29.49 as on December 31, 2013. Tangible book value per share as on December 31, 2014 was $21.37 against $19.94 as on December 31, 2014. Return on average assets was 1.05% against 0.74% a year ago. Return on average assets (operating) was 1.05% against 0.97% a year ago. Return on average common equity was 8.18% against 5.85% a year ago. Return on average common equity (operating) was 8.18% against 7.71% a year ago. Return on average tangible common equity was 12.04% against 8.79% a year ago. Return on average tangible common equity (operating) was 12.04% against 11.59% a year ago. Core income was $37,742,000 against $32,847,000 a year ago.

For the quarter, the company reported net charge-offs from the non-covered loan portfolio of $2.6 million, or 0.08% of average total loans on an annualized basis in the fourth quarter of 2014.

The company expects the effective income tax rate to approximate 27%-29% in fiscal year 2015.