Hancock Holding Company Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter of 2012
January 25, 2013 at 03:30 am IST
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Hancock Holding Company reported unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported interest income of $191,140,000 against $196,500,000 for the same period last year. Net interest income was $182,800,000 against $181,322,000 for the same period last year. Income before income taxes was $58,825,000 against $21,819,000 for the same period last year. Net income was $46,959,000 or $0.54 per diluted share against $18,965,000 or $0.22 per diluted share for the same period last year. Operating income was $46,554,000 or $0.54 per diluted share against $45,109,000 or $0.53 per diluted share for the same period last year. Return on average assets was 0.99% for the fourth quarter of 2012, compared to 1.00% in the third quarter of 2012, and 0.39% in the fourth quarter a year ago. Return on average assets was 0.99% against 0.39% for the same period last year. Return on average assets (operating) was 0.98% against 0.93% for the same period last year. Return on average common equity was 7.67% against 3.11% for the same period last year. Return on average common equity (operating) was 7.60% against 7.39% for the same period last year. Return on average tangible common equity was 11.58% against 4.75% for the same period last year. Return on average tangible common equity (operating) was 11.48% against 11.32% for the same period last year.
For the year, the company reported interest income of $762,549,000 against $592,204,000 for the same period last year. Net interest income was $722,452,000 against $533,159,000 for the same period last year. Income before income taxes was $197,355,000 against $94,823,000 for the same period last year. Net income was $151,742,000 or $1.75 per diluted share against $76,759,000 or $1.15 per diluted share for the same period last year. Operating income was $183,965,000 or $2.13 per diluted share against $133,214,000 or $2.02 per diluted share for the same period last year. Book value per share as at December 31, 2012 was $28.91 against $27.95 as at December 31, 2011. Tangible book value per share as at December 31, 2012 was $19.27 against $17.76 as at December 31, 2011. Return on average assets was 0.80% against 0.52% for the same period last year. Return on average assets (operating) was 0.97% against 0.90% for the same period last year. Return on average common equity was 6.32% against 4.26% for the same period last year. Return on average common equity (operating) was 7.66% against 7.40% for the same period last year. Return on average tangible common equity was 9.72% against 5.98% for the same period last year. Return on average tangible common equity (operating) was 11.78% against 10.37% for the same period last year.
The company reported net charge-offs of $31,268,000 for the fourth quarter of 2012 against $22,398,000 for the same period last year.
Hancock Whitney Corporation is a financial services company. It provides financial services through its bank subsidiary, Hancock Whitney Bank (the Bank), a Mississippi state bank. The Bank offers a range of traditional and online banking services to commercial, small business and retail customers, providing a range of transaction and savings deposit products, treasury management services, secured and unsecured loan products (including revolving credit facilities), letters of credit and similar financial guarantees. The Banks primary lending focus is to provide commercial, consumer and real estate loans to consumers, small and middle market businesses, and corporate clients in the markets and sectors served by the Bank. The Banks investment portfolio primarily consists of United Sates agency debt securities, United Sates agency mortgage-related securities and obligations of states and municipalities classified as either available for sale or held to maturity.
Hancock Holding Company Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter of 2012