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| Hancock Holding Company |
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| Quarterly Financial Data |
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| (amounts in thousands, except |
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|
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| per share data and FTE headcount) |
|
|
|
|
| (unaudited) |
|
2003 |
2004 |
2005 |
|
|
3Q |
4Q |
1Q |
2Q |
3Q |
4Q |
1Q |
2Q |
| Per Common Share Data |
|
|
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| Earnings per share: |
|
|
|
|
|
|
|
| Basic |
|
$0.42 |
$0.48 |
$0.44 |
$0.50 |
$0.47 |
$0.49 |
$0.48 |
$0.56 |
| Diluted |
|
$0.41 |
$0.46 |
$0.43 |
$0.50 |
$0.47 |
$0.48 |
$0.47 |
$0.55 |
| Cash
dividends per share |
$0.115 |
$0.115 |
$0.125 |
$0.125 |
$0.165 |
$0.165 |
$0.165 |
$0.165 |
| Book value per share (period end) |
$12.81 |
$13.06 |
$13.75 |
$13.32 |
$14.16 |
$14.32 |
$14.16
|
$14.87 |
| Tangible book value per share (period end) |
$10.92 |
$11.19 |
$11.58 |
$11.17 |
$12.03 |
$12.16 |
$11.99 |
$12.73 |
| Weighted average number of shares: |
|
|
|
|
|
|
|
| Basic |
|
30,623 |
30,510 |
32,048 |
32,549 |
32,495 |
32,467 |
32,463 |
32,396 |
| Diluted |
|
33,299 |
33,288 |
33,018 |
33,042 |
33,054 |
33,076 |
33,019 |
32,928 |
| Period-end number of shares |
30,521 |
30,450 |
32,558 |
32,538 |
32,472 |
32,440 |
32,463 |
32,310 |
| Market data: |
|
|
|
|
|
|
|
| High
closing price |
$25.85 |
$29.25 |
$32.00 |
$32.25 |
$34.27 |
$34.83 |
$34.20 |
$34.87 |
| Low
closing price |
$23.01 |
$24.68 |
$27.08 |
$25.00 |
$27.32 |
$30.00 |
$30.25 |
$28.25 |
| Period end closing price |
$24.68 |
$27.29 |
$30.96 |
$29.06 |
$31.79 |
$33.46 |
$32.50 |
$34.40 |
|
Trading volume |
3,032 |
2,963 |
2,745 |
3,252 |
2,792 |
2,781 |
3,286 |
3,527 |
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|
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| Other Period-end Data |
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|
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|
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| FTE Headcount |
|
1,751 |
1,734 |
1,717 |
1,754 |
1,731 |
1,767 |
1,766 |
1,813 |
| Tangible common equity |
$333,125 |
$340,583 |
$377,056 |
$363,451 |
$390,696 |
$394,389 |
$389,344 |
$411,203 |
| Tier I capital |
|
$371,677 |
$378,262 |
$372,527 |
$381,428 |
$391,098 |
$399,320 |
$408,163 |
$416,312 |
| Goodwill |
|
$49,100 |
$49,100 |
$59,281 |
$56,474 |
$56,474 |
$55,409 |
$55,409 |
$55,409 |
| Amortizable intangibles |
$5,816 |
$5,376 |
$8,732 |
$11,410 |
$10,852 |
$12,263 |
$12,510 |
$11,746 |
| Mortgage servicing intangibles |
$3,023 |
$2,755 |
$2,464 |
$2,171 |
$1,922 |
$2,520 |
$2,288 |
$2,082 |
| Common
shares repurchased for publicly |
|
|
|
|
|
|
|
announced plans |
155.7 |
63.1 |
51.8 |
100.0 |
84.3 |
0.0 |
40.0 |
96.1 |
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| Performance Ratios |
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| Return on average assets |
1.31% |
1.47% |
1.33% |
1.49% |
1.37% |
1.39% |
1.32% |
1.52% |
| Return on average common equity |
13.79% |
15.21% |
13.01% |
14.97% |
13.67% |
13.54% |
13.32% |
15.27% |
| Earning asset yield (TE) |
5.99% |
5.96% |
5.82% |
5.83% |
5.86% |
6.00% |
5.90% |
6.08% |
| Total cost of funds |
1.46% |
1.42% |
1.41% |
1.43% |
1.44% |
1.47% |
1.55% |
1.66% |
| Net interest margin (TE) |
4.54% |
4.54% |
4.41% |
4.40% |
4.42% |
4.53% |
4.35% |
4.42% |
| Non-interest expense as a percent |
|
|
|
|
|
|
| of
total revenue (TE) before amortization |
|
|
|
|
|
|
| of
purchased intangibles and |
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|
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|
|
|
|
securities transactions |
57.90% |
56.12% |
60.17% |
56.79% |
57.55% |
54.95% |
59.99% |
57.83% |
| Average common equity as |
|
|
|
|
|
|
| a
percent of average total assets |
9.49% |
9.63% |
10.24% |
9.95% |
10.00% |
10.26% |
9.94% |
9.94% |
| Leverage
ratio |
|
9.10% |
9.29% |
8.73% |
8.76% |
8.86% |
8.97% |
8.75% |
8.83% |
| Tangible
common equity to assets |
8.15% |
8.32% |
8.77% |
8.27% |
8.83% |
8.58% |
8.28% |
8.71% |
| Net charge-offs as a |
|
|
|
|
|
|
|
percent of average loans |
0.52% |
0.61% |
0.45% |
0.47% |
0.45% |
0.56% |
0.33% |
0.24% |
| Allowance
for loan losses as |
|
|
|
|
|
|
| a
percent of period end loans |
1.54% |
1.50% |
1.49% |
1.47% |
1.45% |
1.48% |
1.48% |
1.45% |
| Allowance
for loan losses to |
|
|
|
|
|
|
| NPAs
+ loans 90 days past due |
147.27% |
169.73% |
188.51% |
211.55% |
225.17% |
251.85% |
323.66% |
284.75% |
| Provision for loan losses to net charge-offs |
133.92% |
113.59% |
126.92% |
126.52% |
114.34% |
150.98% |
122.13% |
111.83% |
| Loan/Deposit Ratio |
66.78% |
70.10% |
70.16% |
70.13% |
73.07% |
75.19% |
72.40% |
73.63% |
| Non-interest income excluding |
|
|
|
|
|
|
|
securities transactions, as a percent |
|
|
|
|
|
|
| of
total revenue (TE) |
30.70% |
31.40% |
34.75% |
35.93% |
31.98% |
32.37% |
32.77% |
34.06% |
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| Hancock Holding Company |
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| Quarterly Financial Data |
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|
|
|
| (amounts in thousands, except |
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|
|
| per share data and FTE headcount) |
|
|
|
|
| (unaudited) |
|
2003 |
2004 |
2005 |
|
|
3Q |
4Q |
1Q |
2Q |
3Q |
4Q |
1Q |
2Q |
| Asset Quality Information |
|
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|
|
| Non-accrual loans |
$13,988 |
$12,161 |
$9,670 |
$10,134 |
$7,770 |
$7,480 |
$6,335 |
$8,052 |
| Restructured
loans |
- |
- |
- |
- |
- |
- |
- |
- |
| Foreclosed assets |
6,187 |
5,809 |
5,212 |
4,270 |
4,151 |
3,513 |
3,591 |
2,567 |
| Total non-performing assets |
$20,175 |
$17,970 |
$14,882 |
$14,404 |
$11,921 |
$10,993 |
$9,926 |
$10,619 |
| Non-performing assets as a percent of loans |
|
|
|
|
|
|
| and
foreclosed assets |
0.86% |
0.73% |
0.59% |
0.55% |
0.44% |
0.40% |
0.36% |
0.37% |
|
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|
| Accruing Loans 90 days past due |
$4,439 |
$3,682 |
$5,011 |
$3,701 |
$5,277 |
$5,160 |
$2,798 |
$3,914 |
| Accruing
Loans 90 days past due as |
|
|
|
|
|
|
| a
percent of loans |
0.19% |
0.15% |
0.20% |
0.14% |
0.20% |
0.19% |
0.10% |
0.14% |
| Non-performing assets + accruing loans |
|
|
|
|
|
|
| 90
days past due to loans and |
|
|
|
|
|
|
|
foreclosed assets |
1.05% |
0.88% |
0.79% |
0.69% |
0.64% |
0.59% |
0.46% |
0.51% |
|
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|
|
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|
|
|
| Net charge-offs |
|
$2,978 |
$3,680 |
$2,786 |
$3,017 |
$2,963 |
$3,839 |
$2,260 |
$1,691 |
| Net charge-offs as |
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|
|
| a
percent of average loans |
0.52% |
0.61% |
0.45% |
0.47% |
0.45% |
0.56% |
0.33% |
0.24% |
|
|
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|
|
| Allowance for loan losses |
$36,250 |
$36,750 |
$37,500 |
$38,300 |
$38,725 |
$40,682 |
$41,182 |
$41,382 |
| Allowance for loan losses as a |
|
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|
|
|
percent of period end loans |
1.54% |
1.50% |
1.49% |
1.47% |
1.45% |
1.48% |
1.48% |
1.45% |
| Allowance for loan losses to NPAs + |
|
|
|
|
|
|
|
accruing loans 90 days past due |
147.27% |
169.73% |
188.51% |
211.55% |
225.17% |
251.85% |
323.66% |
284.75% |
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| Provision for loan losses |
$3,988 |
$4,180 |
$3,536 |
$3,817 |
$3,388 |
$5,796 |
$2,760 |
$1,891 |
| Provision for loan losses to net charge-offs |
133.92% |
113.59% |
126.92% |
126.52% |
114.34% |
150.98% |
122.13% |
111.83% |
|
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| Net Charge-Off Information |
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|
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| Net charge-offs: |
|
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|
|
|
|
| Commercial/real estate loans |
$880 |
$599 |
$1,159 |
$788 |
$734 |
$1,003 |
$770 |
$202 |
| Mortgage loans |
|
- |
74 |
(1) |
(26) |
(22) |
38 |
68 |
(5) |
| Direct consumer loans |
1,094 |
1,583 |
637 |
1,182 |
1,222 |
1,173 |
501 |
491 |
| Indirect consumer loans |
637 |
576 |
442 |
572 |
402 |
910 |
540 |
538 |
| Finance company loans |
367 |
848 |
549 |
501 |
627 |
715 |
381 |
465 |
| Total net charge-offs |
$2,978 |
$3,680 |
$2,786 |
$3,017 |
$2,963 |
$3,839 |
$2,260 |
$1,691 |
|
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| Average loans: |
|
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|
|
| Commercial/real estate loans |
$1,159,338 |
$1,237,715 |
$1,299,399 |
$1,352,432 |
$1,396,149 |
$1,439,074 |
$1,491,008
|
$1,523,348 |
| Mortgage loans |
|
359,563 |
361,715 |
367,320 |
391,270 |
400,710 |
408,535 |
407,258 |
417,307 |
| Direct consumer loans |
492,307 |
491,340 |
487,452 |
483,150 |
487,139 |
498,336 |
503,700 |
509,628 |
| Indirect consumer loans |
225,199 |
248,817 |
268,311 |
279,230 |
296,755 |
307,413 |
313,542 |
323,100 |
| Finance Company loans |
52,509 |
54,598 |
55,488 |
57,829 |
59,935 |
60,604 |
60,720 |
62,124 |
| Total average loans |
$2,288,917 |
$2,394,185 |
$2,477,971 |
$2,563,910 |
$2,640,689 |
$2,713,963 |
$2,776,229 |
$2,835,506 |
|
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| Net charge-offs to average loans: |
|
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|
|
|
|
| Commercial/real estate loans |
0.30% |
0.19% |
0.36% |
0.23% |
0.21% |
0.28% |
0.21% |
0.05% |
| Mortgage loans |
|
0.00% |
0.08% |
0.00% |
-0.03% |
-0.02% |
0.04% |
0.07% |
0.00% |
| Direct consumer loans |
0.88% |
1.28% |
0.53% |
0.98% |
1.00% |
0.94% |
0.40% |
0.39% |
| Indirect consumer loans |
1.12% |
0.92% |
0.66% |
0.82% |
0.54% |
1.18% |
0.70% |
0.67% |
| Finance Company loans |
2.77% |
6.16% |
3.98% |
3.48% |
4.16% |
4.69% |
2.54% |
3.00% |
| Total net charge-offs to average loans |
0.52% |
0.61% |
0.45% |
0.47% |
0.45% |
0.56% |
0.33% |
0.24% |
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| Hancock Holding Company |
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| Quarterly Financial Data |
|
|
|
|
| (amounts in thousands, except |
|
|
|
|
| per share data and FTE headcount) |
|
|
|
|
| (unaudited) |
|
2003 |
2004 |
2005 |
|
|
3Q |
4Q |
1Q |
2Q |
3Q |
4Q |
1Q |
2Q |
| Income Statement |
|
|
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|
|
| Interest income |
$55,208 |
$54,697 |
$53,842 |
$56,318 |
$57,424 |
$59,190 |
$60,531 |
$64,027 |
| Interest income (TE) |
56,975 |
56,464 |
55,696 |
58,115 |
59,184 |
61,051 |
62,302 |
|