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Hancock Holding Company |
-
Add 4 - |
|
|
Financial Highlights |
|
|
|
(amounts in thousands, except per share data) |
|
|
|
(unaudited) |
|
|
|
|
Three Months Ended |
Six Months Ended |
|
6/30/2003 |
3/31/2003 |
6/30/2002 |
6/30/2003 |
|
| Per
Common Share Data* |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings
per share: |
|
|
|
|
|
| Basic |
|
$0.76
|
$0.84
|
$0.75
|
$1.60
|
$1.43
|
| Diluted |
|
$0.74
|
$0.82
|
$0.73
|
$1.56
|
$1.40
|
| Earnings
per share before amortization of |
|
|
|
|
|
| purchased intangibles: |
|
|
|
|
|
| Basic |
|
$0.77
|
$0.85
|
$0.76
|
$1.62
|
|
| Diluted |
|
$0.75
|
$0.83
|
$0.74
|
$1.58
|
$1.42
|
| Cash
dividends per share |
$0.21
|
$0.21
|
$0.20
|
$0.42
|
$0.40
|
| Book
value per share (period end) |
$25.83
|
$25.45
|
$24.65
|
$25.83
|
$24.65
|
| Weighted
average number of shares: |
|
|
|
|
|
| Basic |
|
15,420 |
15,442 |
15,869 |
15,431 |
15,880 |
| Diluted |
|
16,742 |
16,756 |
17,156 |
16,748 |
17,140 |
| Period
end number of shares |
15,389 |
15,435 |
15,798 |
15,389 |
15,798 |
| Market
data: |
|
|
|
|
|
|
| High closing price |
$49.25
|
$46.94
|
$45.13
|
$49.25
|
$45.13
|
| Low closing price |
$42.00
|
$42.80
|
$35.17
|
$42.00
|
$27.56
|
|
Period end closing price |
$46.75
|
$43.06
|
$44.92
|
$46.75
|
$44.92
|
| Trading volume |
1,274 |
1,418 |
2,246 |
2,695 |
3,363 |
|
|
|
|
|
|
|
| Performance
Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
| Return
on average assets |
1.20% |
1.37% |
1.30% |
1.28% |
1.27% |
| Return
on average common equity |
12.42% |
14.08% |
13.04% |
13.24% |
12.65% |
| Earning
asset yield (TE) |
5.95% |
6.05% |
6.73% |
6.00% |
6.83% |
| Total
cost of funds |
1.58% |
1.71% |
2.06% |
1.64% |
2.16% |
| Net
interest margin (TE) |
4.37% |
4.34% |
4.66% |
4.36% |
4.67% |
| Non-interest
expense as a percent of total revenue (TE) |
|
|
|
|
|
| before amortization of purchased intangibles |
|
|
|
|
|
| and securities transactions |
60.09% |
57.33% |
57.34% |
58.73% |
57.68% |
| Average
common equity as a percent of average total assets |
9.68% |
9.73% |
9.97% |
9.70% |
10.01% |
| Leverage
ratio |
|
9.16% |
9.21% |
9.35% |
9.16% |
9.35% |
| Tangible
common equity to assets |
8.31% |
8.14% |
8.73% |
8.31% |
8.73% |
| Net
charge-offs as a percent of average loans |
0.64% |
0.59% |
0.88% |
0.61% |
1.27% |
| Reserve
for loan losses as a percent of period end loans |
1.57% |
1.64% |
1.65% |
1.57% |
1.65% |
| Reserve
for loan losses to NPAs + accruing loans 90 days past due |
138.95% |
149.63% |
122.93% |
138.95% |
122.93% |
| Provision
for loan losses to net charge-offs |
114.43% |
100.00% |
116.21% |
107.71% |
85.35% |
|
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|
|
|
|
|
|
|
| *Note: Share and per share data give effect to the
3 - for - 2 stock split effective August 5, 2002. |
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-
more - |
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|
Hancock Holding Company |
-
Add 5 - |
|
|
Financial Highlights |
|
|
|
(amounts in thousands, except per share data) |
|
|
|
(unaudited) |
|
|
|
|
Three
Months Ended |
Six
Months Ended |
|
|
6/30/2003 |
3/31/2003 |
6/30/2002 |
6/30/2003 |
6/30/2002 |
| Asset
Quality Information |
|
|
|
|
|
|
|
|
|
|
|
|
| Non-accrual
loans |
$16,860 |
$11,949 |
$12,210 |
$16,860 |
$12,210 |
| Restructured
loans |
- |
- |
- |
- |
- |
| Foreclosed
assets |
$5,685 |
$5,230 |
$7,335 |
$5,685 |
$7,335 |
| Total
non-performing assets |
$22,545 |
$17,179 |
$19,545 |
$22,545 |
$19,545 |
| Non-performing
assets as a percent of loans and foreclosed assets |
1.00% |
0.81% |
1.00% |
1.00% |
1.00% |
| Accruing
Loans 90 days past due |
$2,817 |
$6,039 |
$6,702 |
$2,817 |
$6,702 |
| Accruing
Loans 90 days past due as a percent of loans |
0.13% |
0.28% |
0.34% |
0.13% |
0.34% |
| Non-performing
assets + accruing loans 90 days past due |
|
|
|
|
|
| to loans and foreclosed assets |
1.12% |
1.09% |
1.34% |
1.12% |
1.34% |
|
|
|
|
|
|
|
| Net
charge-offs |
|
$3,466 |
$3,020 |
$4,198 |
$6,486 |
$11,959 |
| Net
charge-offs as a percent of average loans |
0.64% |
0.59% |
0.88% |
0.61% |
1.27% |
|
|
|
|
|
|
|
| Reserve
for loan losses |
$35,240
|
$34,740
|
$32,265
|
$35,240
|
$32,265
|
| Reserve
for loan losses as a percent of period end loans |
1.57% |
1.64% |
1.65% |
1.57% |
1.65% |
| Reserve
for loan losses to NPAs + accruing loans 90 days past due |
138.95% |
149.63% |
122.93% |
138.95% |
122.93% |
|
|
|
|
|
|
|
| Provision
for loan losses |
$3,966 |
$3,020 |
$4,879 |
$6,986 |
$10,207 |
| Provision
for loan losses to net charge-offs |
114.43% |
100.00% |
116.21% |
107.71% |
85.35% |
|
|
|
|
|
|
|
| Reserve
for Loan Losses |
|
|
|
|
|
|
|
|
|
|
|
|
| Beginning
Balance |
34,740 |
34,740 |
31,584 |
34,017 |
34,017 |
| Provision
for loan loss |
3,966 |
3,020 |
4,879 |
6,986 |
10,207 |
| Charge-offs |
|
4,788 |
4,771 |
5,574 |
9,559 |
14,773 |
| Recoveries |
|
1,322 |
1,751 |
1,376 |
3,073 |
2,814 |
| Net
charge-offs |
|
3,466 |
3,020 |
4,198 |
6,486 |
11,959 |
| Ending
Balance |
35,240 |
34,740 |
32,265 |
35,240 |
32,265 |
|
|
|
|
|
|
|
| Net
Charge-Off Information |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
charge-offs: |
|
|
|
|
|
| Commercial/real
estate loans |
$1,605
|
$741
|
$2,111
|
$2,346
|
$7,405
|
| Mortgage
loans |
4 |
35 |
- |
39 |
1 |
| Direct
consumer loans |
1,094 |
1,251 |
1,167 |
2,345 |
2,566 |
| Indirect
consumer loans |
334 |
588 |
462 |
922 |
1,114 |
| Finance
company loans |
429 |
405 |
458 |
834 |
873 |
| Total
net charge-offs |
$3,466
|
$3,020
|