Hancock Whitney Corporation (HWC) Misses Q2 EPS by 172c

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Go back to Hancock Whitney Corporation (HWC) Misses Q2 EPS by 172c

Hancock Whitney reports second quarter 2020 results

July 21, 2020 4:05 PM EDT

GULFPORT, Miss., July 21, 2020 (GLOBE NEWSWIRE) -- Hancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the second quarter of 2020, a net loss of $117.1 million, or ($1.36) per diluted common share (EPS). The loss reflects a provision for credit losses of $306.9 million that includes both a special provision related to the sale of $497 million in energy loans and an additional build in the reserve for credit losses related to COVID-19.

The sale, which was announced on July 17, 2020, included reserve-based (RBL), midstream and nondrilling service credits. The company... More