Hancock Holding Co. (HBHC), the parent company of Hancock Bank, Tuesday reported a significant rise in profit for the fourth quarter, benefiting from recent common stock offering, higher net interest income and non-interest income by way of acquisition related gains. Earnings came in well ahead of analysts' estimates.
The Gulfport, Mississippi-based company's net income for the fourth quarter increased to $31.8 million or $0.89 per share from $8.3 million or $0.26 per share in the previous year.
Results include the impact of the company's recent common stock offering amounted to $167.3 million after expense, pre-tax gain of $33.6 million related to the acquisition of Peoples First Community Bank and pretax merger related expenses of $3.7 million.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income for the quarter increased 15.8% to $63.7 million from $55.0 million last year, with net interest margin increasing 46 basis points to 3.97%. Provision for loan losses declined to $15.8 million from $17.1 million a year ago.
Non-interest income, excluding securities transactions, increased to $63.3 million from $30.6 million due to the acquisition gain, higher levels of secondary mortgage market operations, service charges on deposit accounts, trust fees, ATM fees and debit card and merchant fees which were partially offset by decreases in investment and annuity fees and insurance fees.
Analysts expected the company to report revenues of $99.21 million for the fourth quarter.
Non-interest expense for the fourth quarter were $63.6 million, up 14.4% from $55.6 million in the same quarter a year ago due to higher personnel expense and other operating expenses, which were slightly offset by a decrease in equipment expense.
For the fourth quarter, Hancock's average total loans were $4.4 billion, an increase of $187.7 million, or 4.5% from the same quarter a year ago. Period-end deposits for the fourth quarter were $7.20 billion, up $1.26 billion or 21.3% from December 31, 2008.
Net income for the fiscal 2009 increased to $74.8 million or $2.26 per share from $65.4 million or $2.04 per share in the previous year. Net interest income for the year increased to $240.5 million from $219.9 million a year ago. Non-interest income rose to $157.2 million from $122.9 million last year.
Analysts expected the company to report earnings of $1.79 per share, on revenues of $367.07 million for the fiscal 2009.
HBHC closed Tuesday's regular trading at $45.37, up 0.64 or 1.43%, on a volume of 0.19 million shares on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.