HWC

• Overall Q2 2026 Performance

  • Hancock Whitney delivered a strong quarter with solid profitability, balance sheet growth, efficiency, and capital returns to shareholders
  • On a linked-quarter annualized basis, loans grew 10% and deposits grew 8%, with average loans increasing $374 million and average earning assets increasing $507 million linked quarter
  • Core profitability metrics: ROA of 1.42%, efficiency ratio of 55.3%, ROTCE of 14.9%, and net interest margin (NIM) increased 1 basis point to 3.56%
  • Deposits growth was driven by a $786 million increase in interest-bearing money market accounts, partially offset by a small decline in CD balances from maturities

• Asset Quality

  • Criticized commercial loans declined for the sixth consecutive quarter, falling $30 million to $492 million
  • Non-accrual loans increased $1 million to $114 million, and net charge-offs fell to 16 basis points from 19 basis points in the prior quarter
  • Loan loss reserves remain solid at 1.42% of total loans

• Strategic Updates

  • Received all regulatory and shareholder approvals for the One Florida Bank (OFB) acquisition, with closing expected on August 1, 2026
  • Full cost savings from the OFB acquisition are expected to be fully realized by the start of 2027, and integration is targeted to be completed by mid-to-late Q4 2026
  • Capital deployment priorities remain: supporting balance sheet growth, maintaining dividends, and completing the current 5% share repurchase authorization by the end of 2026
  • The firm is 42% of the way to its 2026 target of 50 new banker hires, with 26% of Q2 loan growth generated by newly hired bankers

• Full year 2026 standalone (excluding OFB) loan growth guidance is maintained at mid-single digit percentage
• Full year 2026 deposit growth guidance was revised upward from low single digit to mid-single digit percentage
• Full year 2026 net charge-off guidance is maintained at 15 to 25 basis points of average loans
• For full year 2026 including the OFB acquisition: guidance calls for low double digit percentage growth in loans and deposits, net interest income growth of 8% to 9%, fee income growth of 6% to 7%, operating expense growth of 7.5% to 8.5%, and PPNR growth of 7% to 8% (this guidance excludes expected revenue synergies from the acquisition)
• Most guidance ranges for 2026 excluding OFB were revised upward to the upper end of prior ranges
• Management expects NIM to be flat to slightly up in the second half of 2026, with deposit costs expected to increase approximately 10 basis points between Q2 and Q4 2026
• Management expects a modest 4 to 5 basis point increase in average loan yields during the second half of 2026
• The 5% 2026 share repurchase authorization is expected to be fully exhausted by the end of 2026

Transcript does not break out reported financial results by explicit product segments with separate absolute or revenue contribution percentage figures. All results are reported on a consolidated firm-wide basis: Q2 2026 consolidated net income was $127 million ($1.55 per diluted share), compared to $125 million ($1.52 per diluted share) adjusted net income in Q1 2026. Consolidated PPNR increased 3% linked quarter to $178 million, net interest income increased 3% linked quarter, and adjusted fee income increased 2% ($2.3 million) linked quarter. Operating expenses increased 2% linked quarter, driven primarily by annual merit increases and new hires from the first half of 2026. Loan growth was positive across all lines of business except the mortgage segment, which saw no growth in the quarter.

• Macroeconomic uncertainty from potential interest rate increases and persistent inflation could dampen business loan demand from Hancock Whitney's client base
• Loan pricing competition is intense across all segments, particularly in middle market commercial lending, with high credit supply relative to limited current borrower demand, creating pressure on loan yields
• Deposit pricing competition is elevated across the firm's operating markets, requiring promotional pricing to attract and grow core deposit balances to fund loan growth
• The CECL baseline scenario was updated to reflect more conservative economic forecasts that incorporate the impact of geopolitical uncertainty in the Middle East, leading to a 50-50 weighting between baseline and slow growth scenarios (up from 40-60 previously)

Q: After very strong Q2 loan production and growth that beat prior trends, why is full year guidance maintained at mid-single digits? Is this conservatism or driven by competitive pressures? / A: Client demand is broadly stable but clients remain cautious amid macro uncertainty, and the market currently has high credit supply for limited overall demand. Much of the strong Q2 closed loan volume originated in Q1, so second half growth is expected to normalize to the mid-single digit trend. Management remains disciplined on pricing amid strong competition, prioritizing high-quality growth over outpacing guidance targets. It is not deliberate conservatism, but a realistic outlook given potential macro headwinds that could dampen demand later in the year.

Q: How would you describe current deposit competition, and can you fund loan growth dollar-for-dollar with core deposits in the second half? / A: The deposit pricing environment is competitive but rational across our markets, as most banks are seeking to grow deposits to fund loan demand. We were able to fund all of Q2 organic balance sheet growth with new deposits, which aligns with our balance sheet strategy. Going into the second half, we expect deposit growth to step up slightly to match the expected level of loan growth, maintaining the dollar-for-dollar funding target.

Q: Is the One Florida approval opening the door for additional M&A, and was the faster-than-expected approval surprising? / A: The approval timeline matched our original guidance, so there were no surprises. Regulatory process has been reasonably accommodative for clean, small-sized transactions like this one. The immediate focus is fully integrating One Florida, which will be completed by late Q4 2026, with full cost savings realized by 2027. Management will evaluate additional expansion opportunities after integration is complete, with a stated long-term interest in growing the Florida footprint, particularly in Jacksonville.

Q: After exhausting the 2026 5% buyback authorization, what is the timeline for rebuilding capital post-One Florida and what does that mean for 2027 buybacks? / A: Capital ratios will drop ~120 basis points for TCE and ~170 basis points for common tier 1 after closing, but ratios are not expected to change meaningfully through the second half even with buybacks. Management expects organic capital accumulation to return ratios to pre-deal levels over roughly eight quarters, and the firm is comfortable with the lower post-close capital levels. Future buyback authorization for 2027 will be determined by the board and disclosed when we approach year-end 2026.