The OFB acquisition drove strong balance-sheet growth but materially diluted capital ratios (CET1 11.53%, TCE 8.05%). Monitor Q4 2026 for expense synergies and NIM trajectory; the FY guidance implies continued margin expansion and cost discipline. The increase in nonaccrual loans (+$19.6M QoQ) warrants watching for credit quality trends.
Price Chart
Executive Summary
Hancock Whitney reported Q3 2026 GAAP EPS of $1.36, down from $1.55 in Q2, due to $30.4M in pretax acquisition-related charges for the One Florida Bank (OFB) deal closed August 1. Adjusted EPS of $1.66 beat the $1.65 Street consensus by 0.6%, driven by NIM expansion to 3.61% (+5 bps) and strong loan/deposit growth from the OFB acquisition. However, CET1 and TCE ratios dropped sharply to 11.53% and 8.05%, respectively, reflecting the capital deployed for the deal and share buybacks, and nonaccrual loans increased to 0.50% of loans from 0.46%.
Key Financial Metrics
Key Facts
- GAAP EPS $1.36 vs $1.55 in Q2 2026; adjusted EPS $1.66 vs $1.55 in Q2 2026
- Adjusted EPS of $1.66 beat Street consensus of $1.65 by 0.6%
- Net income $110.1M, down from $127.0M in Q2 2026 and $127.5M in Q3 2025
- NIM (TE) expanded 5 bps to 3.61% from 3.56% in Q2 2026
- Loans grew $2.0B (8%) to $26.5B, including $1.7B from OFB acquisition
- Deposits grew $2.5B (9%) to $32.2B, including $1.9B from OFB
- CET1 ratio fell to 11.53% from 13.19% in Q2 2026; TCE ratio fell to 8.05% from 9.78%
- Nonaccrual loans increased to $133.3M (0.50% of loans) from $113.7M (0.46%) in Q2
- Company repurchased 1M shares at avg $77.91 during Q3 2026
- FY 2026 guidance: low-double-digit EOP loan growth, double-digit NIM expansion, efficiency ratio below 55%
Financial Impact
Adjusted EPS $1.66 vs consensus $1.65; NIM +5 bps to 3.61%; CET1 ratio -166 bps to 11.53%
Risk Factors
- Capital ratios (CET1 11.53%, TCE 8.05%) are significantly lower post-acquisition, limiting flexibility
- Nonaccrual loans increased 17% QoQ to $133.3M (0.50% of loans)
- Integration risk from OFB acquisition; $29.4M in one-time charges this quarter
- Cost of deposits rose 13 bps to 2.33% QoQ, pressuring NIM if rate environment shifts
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-426654 |
| Document: hwc-ex99_2.htm | 0001193125-26-426654 |
| Document: hwc-20261020.htm | 0001193125-26-426654 |
| Document: 0001193125-26-426654-index-headers.html | 0001193125-26-426654 |
| Document: 0001193125-26-426654-index.html | 0001193125-26-426654 |
| Document: 0001193125-26-426654.txt | 0001193125-26-426654 |
| 8-K Data (Synthetic) | 0001193125-26-426654 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 8-K | $72.30 | awaiting T+20 | — | $72.96 (+0.91%) |
Aug 3, 2026 12w ago | 8-K | $77.76 $74.49 | ▼ −4.21% | ▼ −5.44% | $72.96 (−6.17%) |
Jul 21, 2026 13w ago | 8-K | $76.40 $76.13 | ▼ −0.35% | ▼ −3.25% | $72.96 (−4.50%) |
Jul 20, 2026 14w ago | 8-K | $77.29 $78.84 | ▲ +2.01% | ▼ −2.12% | $72.96 (−5.60%) |
US Market Status
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