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![HANCOCK WHITNEY CORP [HWCPL] reports annual net loss of $392.6 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FHWCPL.png&w=1200&q=75)
HANCOCK WHITNEY CORP [HWCPL] has reported a net loss of $392.6 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.7 million
Based in GULFPORT, Mississippi, HANCOCK WHITNEY CORP operates in the FINANCE sector.
The annual report for the fiscal year ended December 31, 2023, compared to the same period in 2022 and 2021, reveals the following financial performance metrics:
- Total interest income for the current reporting period amounted to $1.62 billion, representing a significant increase from $1.14 billion in the previous year and $982 million in the year before that.
- Net interest income after the provision for credit losses stood at $1.04 billion for the year 2023, slightly lower than the $1.08 billion reported in 2022 but higher than the $1.01 billion in 2021.
- Noninterest income for the current year totaled $288.48 million, showing a decline from the $331.49 million recorded in 2022 and $364.33 million in 2021.
- Total noninterest expenses amounted to $836.85 million in 2023, compared to $750.69 million in 2022 and $807.01 million in 2021.
- Income before income taxes for the current reporting period was $490.13 million, down from $659.20 million in 2022 but higher than the $568.06 million reported in 2021.
- Net income for the year ending December 31, 2023, amounted to $392.60 million, a decrease from $524.09 million in 2022 but an improvement from $463.22 million in 2021.
- Earnings per common share for the basic and diluted amounts were $4.51 and $4.50, respectively, in 2023, compared to $6 and $5.98 in 2022 and $5.23 and $5.22 in 2021.
In summary, the financial performance of the company in 2023 reflects a mixed picture with growth in interest income but challenges in noninterest income leading to a decline in net income compared to the previous year.