HANCOCK WHITNEY CORP - FORM 8-K - EX-99.1

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Exhibit 99.1

LOGO

For Immediate Release

January 22, 2015

For More Information

Trisha Voltz Carlson

SVP, Investor Relations Manager

504.299.5208

trisha.carlson@hancockbank.com

Hancock reports fourth quarter 2014 financial results

Continuing to replace declines in purchase accounting income with quality, core results;

full year 2014 core income and E.P.S. up over 30% compared to 2013

GULFPORT, Miss. (January 22, 2015) — Hancock Holding Company (Nasdaq: HBHC) today announced its financial results for the fourth quarter of 2014. Net income for the fourth quarter of 2014 was $40.1 million, or $.48 per diluted common share, compared to $46.6 million, or $.56 in the third quarter of 2014 and $34.7 million, or $.41 in the fourth quarter of 2013.

Operating income for the fourth quarter of 2014 was $46.4 million, or $.56 per diluted common share, compared to $49.1 million, or $.59, in the third quarter of 2014. Operating income was $45.8 million, or $.55, in the fourth quarter of 2013. We define our operating income as net income excluding tax-effected securities transactions gains or losses and nonoperating expense items. Nonoperating expenses totaled $9.7 million and $3.9 million (pre-tax), in the fourth and third quarters of 2014, respectively, and $17.1 million (pre-tax) in the fourth quarter of 2013. Management believes that operating income is one useful measure of our financial performance that helps investors compare the company’s fundamental operational performance from period to period. The financial tables include a reconciliation of net income to operating income.

Over the past several quarters we have disclosed our focus on strategic initiatives that are designed to replace declining levels of purchase accounting income from acquisitions with improvement in core income, which the company defines as operating income excluding tax-effected purchase accounting adjustments. Over time, this strategic focus should improve the company’s core income. Management believes that consistent reporting of core income helps investors understand the success management has had in executing its strategic initiatives. Our core income for the fourth quarter of 2014 was $41.5 million or $.50 per diluted common share, up from $41.2 million or $.49 in the third quarter of 2014 and $32.8 million, or $.39, in the fourth quarter of 2013. The financial tables include a reconciliation of net income to core income.

Hancock reports fourth quarter 2014 financial results

January 22, 2015

“The strategic initiatives we announced almost two years ago continue to generate results,” said Hancock’s President and Chief Executive Officer John M. Hairston. “During 2014 we reported a $50 million decline in pre-tax purchase accounting income that we more than replaced through successfully reducing and controlling expenses, and investing in revenue-generating initiatives. While operating results may look somewhat flat year over year, a comparison of our core results for 2014 to 2013 tells quite a different story. Core income increased $38 million, or 31%, E.P.S. grew $.47 per share, or up 33%, loans increased $1.6 billion, or 13%, deposits grew $1.2 billion, up 8%, the core margin for the year remained stable, credit metrics improved, capital remained solid, and our operating efficiency improved over 300 basis points. The management team is extremely proud of these results, and expects 2015 to reflect similar progress towards achieving our goals.”

Highlights of the company’s fourth quarter of 2014 results:

•

Net loan growth of $547 million, or 16% linked-quarter annualized

•

Net deposit growth of $836 million, or 21% linked-quarter annualized

•

An increase of $1.2 million in core revenue and a $1.1 million decline in operating expense offset half of the $4.7 million decline in purchase accounting income

•

Over the past 2 quarters growth in core revenue and declines in operating expense offset approximately 90% of the decline in purchase accounting items

•

Solid capital levels with a tangible common equity (TCE) ratio of 8.59%, after using approximately $38 million of capital during the quarter to repurchase stock

•

Return on average assets (ROA) (operating) 0.92%; core ROA 0.82%

•

Total assets grew $761 million and totaled approximately $21 billion at year-end 2014

Loans

Total loans at December 31, 2014 were $13.9 billion, up $547 million from September 30, 2014.

All markets across the franchise reported growth during the quarter, with south Louisiana, Houston and central Florida generating approximately two-thirds of the quarter’s net loan growth. During the fourth quarter, approximately two-thirds of the average net loan growth came from commercial lending lines of business, with minimal growth in the energy sector over the past several months.

At December 31, 2014, loans in the energy segment totaled $1.7 billion, or 12% of total loans. The portfolio is comprised of credits to both the E&P industry and support industries. Additional details of the energy portfolio are included in the presentation slides posted on our Investor Relations website.

“We have been in the energy lending business for more than 60 years with relationships that go back generations,” said Hairston. “The potential impact of the recent precipitous drop in oil prices on our future results will depend on the severity and duration of this cycle. We are disciplined in our underwriting, and while we could see some pressure in risk ratings, based on what we know today we expect no significant loss in our energy portfolio and believe our current reserves are sufficient to cover any losses in the portfolio.”

Hancock reports fourth quarter 2014 financial results

January 22, 2015

Average loans totaled $13.6 billion for the fourth quarter of 2014, up $476 million, or 4%, from the third quarter of 2014.

Deposits

Total deposits at December 31, 2014 were $16.6 billion, up $836 million, or 5%, from September 30, 2014. Average deposits for the fourth quarter of 2014 were $15.9 billion, up $521 million, or 3%, from the third quarter of 2014. Initiatives were put in place recently with a focus on growing deposits in order to fund the Company’s loan growth. Previously the loan growth had been funded primarily through runoff in the securities portfolio.

Noninterest-bearing demand deposits (DDAs) totaled $5.9 billion at December 31, 2014, up $79 million, or 1%, compared to September 30, 2014. DDAs comprised 36% of total period-end deposits at December 31, 2014.

Interest-bearing transaction and savings deposits totaled $6.5 billion at the end of the fourth quarter of 2014, up $206 million, or 3%, from September 30, 2014. Time deposits (CDs) of $2.1 billion grew $103 million, or 5%, while interest-bearing public fund deposits increased $448 million, or 29%, to $2.0 billion at December 31, 2014. A portion of the public fund balances are seasonal, and we expect to see runoff in those deposits in the first quarter of 2015.

Asset Quality

Nonperforming assets (NPAs) totaled $148 million at December 31, 2014, up less than $1 million from September 30, 2014. During the fourth quarter of 2014, total nonperforming loans declined $2.6 million while foreclosed and surplus real estate (ORE) and other foreclosed assets increased $3.5 million. The increase in ORE was mainly additions of existing branch property. Nonperforming assets as a percent of total loans, ORE and other foreclosed assets was 1.06% at December 31, 2014, down 4 bps from September 30, 2014.

The total allowance for loan losses was $128.8 million at December 31, 2014, up $3.2 million from September 30, 2014. The ratio of the allowance for loan losses to period-end loans was .93% at December 31, 2014, virtually unchanged from September 30, 2014. The allowance maintained on the non-FDIC acquired portion of the loan portfolio increased $7.2 million linked-quarter, totaling $98.2 million, and the impaired reserve on the FDIC acquired loan portfolio declined $4.0 million linked-quarter.

During the quarter, management reviewed all energy credits $1 million and greater, and also stress tested the entire energy portfolio. Based on current conditions no additional reserve build was required for the energy portfolio at December 31, 2014. Should pricing pressures on oil continue, we could see some downward pressure on risk ratings that could lead to additional provision expense in future quarters. However, this will depend on the severity and duration of this cycle. Management believes that even if downgrades occur, they will not result in significant losses.

Hancock reports fourth quarter 2014 financial results

January 22, 2015

Net charge-offs from the noncovered loan portfolio were $2.6 million, or 0.08% of average total loans on an annualized basis in the fourth quarter of 2014, down from $6.4 million, or 0.19% of average total loans in the third quarter of 2014.

During the fourth quarter of 2014, Hancock recorded a total provision for loan losses of $9.7 million, up slightly from the third quarter of 2014 and primarily related to the noncovered portion of the allowance.

The non-single family portion of the FDIC loss share agreement related to the Peoples First acquisition in December 2009 expired at year-end 2014. Approximately $197 million of single family loans remain covered under a FDIC loss share agreement until December 31, 2019.

Net Interest Income and Net Interest Margin

Net interest income (TE) for the fourth quarter of 2014 was $163.6 million, down $2.6 million from the third quarter of 2014. The impact of purchase accounting items (PAAs) on net interest income was $16.0 million, down $5.5 million linked-quarter. Excluding the impact from purchase accounting items, core net interest income increased $2.8 million linked-quarter, replacing more than half of the runoff in PAAs. Average earning assets were $17.9 billion for the fourth quarter of 2014, up $587 million, or 3%, from the third quarter of 2014.

The reported net interest margin (TE) was 3.63% for the fourth quarter of 2014, down 18 bps from the third quarter of 2014. The core net interest margin (reported net interest income (TE) excluding total net purchase accounting adjustments, annualized, as a percent of average earning assets) declined 5 bps to 3.27% during the fourth quarter of 2014. Declines in the core loan yield (-3 bps) and an increase in the cost of funds (+2 bps) were the main drivers of the margin compression. An improved earning asset mix and increased loan volumes were drivers of the increase in core net interest income.

Noninterest Income

Noninterest income, including securities transactions, totaled $57.0 million for the fourth quarter of 2014, down $1.0 million, or 2%, from the third quarter of 2014. Included in the total is a reduction of $2.1 million related to the amortization of the FDIC indemnification asset, compared to a reduction of $2.8 million in the third quarter of 2014. Excluding the impact of this item, core noninterest income decreased by approximately $1.6 million linked-quarter.

Branch closures and sales led to some customer attrition and reductions in service charges and card fees during 2014. Service charges on deposits totaled $19.0 million for the fourth quarter of 2014, down $1.0 million, or 5%, from the third quarter of 2014. Bank card and ATM fees totaled $11.2 million, down $0.4 million, or 4%, from the third quarter of 2014.

Hancock reports fourth quarter 2014 financial results

January 22, 2015

Trust fees totaled $11.6 million, virtually unchanged linked-quarter. Investment and annuity income and insurance fees totaled $6.6 million, down $0.9 million, or 12%, linked-quarter.

Fees from secondary mortgage operations totaled $2.0 million for the fourth quarter of 2014, down $0.3 million, or 14%, linked-quarter.

Other noninterest income totaled $8.7 million, up $0.9 million, or 12%, from the third quarter of 2014.

Noninterest Expense & Taxes

Noninterest expense for the fourth quarter of 2014 totaled $153.7 million and included $9.7 million of nonoperating expenses. The nonoperating expenses were mainly incurred in connection with the Company’s ongoing expense and efficiency initiative, although a portion of these costs were amounts paid to recently separated executives. Excluding these costs, operating expense totaled $144.1 million in the fourth quarter of 2014, down $1.1 million, or less than 1%, linked-quarter. (The details of the changes in the noninterest expense categories noted below exclude the impact of nonoperating items.)

Total personnel expense was $79.5 million in the fourth quarter of 2014, down $0.5 million, or less than 1%, from the third quarter of 2014. Occupancy and equipment expense totaled $14.6 million in the fourth quarter of 2014, down $0.7 million, or 5%, from the third quarter of 2014.

ORE expense totaled $1.0 million for the fourth quarter of 2014, reflecting a more normalized level of quarterly expense. Net gains on ORE dispositions exceeded ORE expense in the third quarter of 2014 by $104,000.

Other operating expense totaled $42.6 million in the fourth quarter of 2014, down $0.8 million, or 2%, from the third quarter of 2014.

The effective income tax rate for the fourth quarter of 2014 was 26%, unchanged from the third quarter of 2014. Management expects the effective income tax rate to approximate 27-29% in 2015. The effective income tax rate continues to be less than the statutory rate of 35% due primarily to tax-exempt income and tax credits.

Capital

Common shareholders’ equity at December 31, 2014 totaled $2.5 billion. The tangible common equity (TCE) ratio was 8.59%, down 51 bps from September 30, 2014. The decline in the TCE ratio reflects organic growth in the balance sheet, the repurchase of common shares during the quarter and a decrease in other comprehensive income (OCI) primarily related to the year-end revaluation of the pension liability. Assets totaled $21 billion at December 31, 2014, up $761 million from September 30, 2014.

Hancock reports fourth quarter 2014 financial results

January 22, 2015

In July of 2014, the Board of Directors authorized a new common stock repurchase program for up to 5%, or approximately 4 million shares, of the Company’s common stock. During the fourth quarter, the Company repurchased 1,224,279 shares of its common stock at an average price of $30.75. To-date the Company has repurchased 37% of the total buyback authorization. Shares may be repurchased in the open market or in privately negotiated transactions from time to time, depending upon market conditions and other factors, and in accordance with applicable regulations of the Securities and Exchange Commission. The repurchase authorization will expire December 31, 2015. Additional capital ratios are included in the financial tables.

Conference Call and Slide Presentation

Management will host a conference call for analysts and investors at 9:00 a.m. Central Time on Friday, January 23, 2015 to review the results. A live listen-only webcast of the call will be available under the Investor Relations section of Hancock’s website at www.hancockbank.com. Additional financial tables and a slide presentation related to fourth quarter results are also posted as part of the webcast link. To participate in the Q&A portion of the call, dial (877) 564-1219 or (973) 638-3429. An audio archive of the conference call will be available under the Investor Relations section of our website. A replay of the call will also be available through January 30, 2015 by dialing (855) 859-2056 or (404) 537-3406, passcode 60107247.

About Hancock Holding Company

Hancock Holding Company is a financial services company with regional business headquarters and locations throughout a growing Gulf South corridor. The company’s banking subsidiary provides a comprehensive network of full-service financial choices through Hancock Bank locations in Mississippi, Alabama, and Florida and Whitney Bank offices in Louisiana and Texas, including traditional and online banking; commercial and small business banking; energy banking; private banking; trust and investment services; certain insurance services; mortgage services; and consumer financing. More information and online banking are available at www.hancockbank.com and www.whitneybank.com.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and we intend such forward-looking statements to be covered by the safe harbor provisions therein and are including this statement for purposes of invoking these safe-harbor provisions. Forward-looking statements provide projections of results of operations or of financial condition or state other forward-looking information, such as expectations about future conditions and descriptions of plans and strategies for the future.

Forward-looking statements that we may make include, but may not be limited to, comments with respect to future levels of economic activity in our markets, including the impact of volatility of oil and gas prices on our energy portfolio and associated loan loss reserves and the downstream impact on businesses that support the energy sector, especially in the Gulf Coast region, loan growth expectations, deposit trends, credit quality trends, net interest margin trends, future expense levels, success of revenue-generating initiatives, projected tax rates, future profitability, improvements in expense to revenue (efficiency) ratio, purchase accounting impacts such as accretion levels, the impact of the branch rationalization process, details of the common stock buyback, possible repurchases of shares under stock buyback programs, and the financial impact of regulatory requirements. Hancock’s ability to accurately project results, predict the effects of future plans or strategies, or predict market or economic developments is inherently limited. Although Hancock believes that the expectations reflected in its forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from those expressed in Hancock’s forward-looking statements include, but are not limited to, those risk factors outlined in Hancock’s public filings with the Securities and Exchange Commission, which are available at the SEC’s internet site (http://www.sec.gov).

Hancock reports fourth quarter 2014 financial results

January 22, 2015

You are cautioned not to place undue reliance on these forward-looking statements. Hancock does not intend, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of differences in actual results, changes in assumptions or changes in other factors affecting such statements, except as required by law.

HANCOCK HOLDING COMPANY

FINANCIAL HIGHLIGHTS

(Unaudited)


	Three Months Ended									Twelve Months Ended
(amounts in thousands, except per share data)	12/31/2014			9/30/2014			12/31/2013			12/31/2014			12/31/2013
INCOME STATEMENT DATA
Net interest income	$	160,813		$	163,541		$	166,007		$	654,694		$	680,731
Net interest income (TE) (a)		163,581			166,230			168,466			665,341			691,141
Provision for loan losses		9,718			9,468			7,331			33,840			32,734
Noninterest income excluding securities transactions		56,961			57,941			58,894			227,999			246,038
Securities transactions gains		—			—			105			—			105
Noninterest expense (excluding nonoperating expense items)		144,080			145,192			157,097			580,980			640,271
Nonoperating expense items		9,667			3,887			17,116			25,686			38,003
Net income		40,092			46,553			34,716			175,722			163,356
Operating income (b)		46,376			49,079			45,773			194,145			187,990
Core income (c)		41,537			41,176			32,847			159,191			121,100

PERIOD-END BALANCE SHEET DATA
Loans	$	13,895,276		$	13,348,574		$	12,324,817		$	13,895,276		$	12,324,817
Investment securities		3,826,454			3,913,370			4,033,124			3,826,454			4,033,124
Earning assets		18,544,930			17,748,600			16,651,295			18,544,930			16,651,295
Total assets		20,747,266			19,985,950			19,009,251			20,747,266			19,009,251
Noninterest-bearing deposits		5,945,208			5,866,255			5,530,253			5,945,208			5,530,253
Total deposits		16,572,831			15,736,694			15,360,516			16,572,831			15,360,516
Common shareholders’ equity		2,472,402			2,509,342			2,425,069			2,472,402			2,425,069

AVERAGE BALANCE SHEET DATA
Loans	$	13,578,223		$	13,102,108		$	11,903,603		$	12,938,869		$	11,700,218
Investment securities (d)		3,836,123			3,780,089			4,070,657			3,816,724			4,140,051
Earning assets		17,911,143			17,324,444			16,376,587			17,195,492			16,443,868
Total assets		20,090,372			19,549,947			18,739,091			19,436,827			18,929,018
Noninterest-bearing deposits		5,849,356			5,707,523			5,483,918			5,641,792			5,393,955
Total deposits		15,892,507			15,371,209			14,915,677			15,399,993			15,117,236
Common shareholders’ equity		2,509,509			2,489,948			2,355,768			2,474,948			2,386,564

COMMON SHARE DATA
Earnings per share - diluted	$	0.48		$	0.56		$	0.41		$	2.10		$	1.93
Operating earnings per share - diluted (b)		0.56			0.59			0.55			2.32			2.22
Core earnings per share - diluted (c)		0.50			0.49			0.39			1.90			1.43
Cash dividends per share	$	0.24		$	0.24		$	0.24		$	0.96		$	0.96
Book value per share (period-end)	$	30.74		$	30.76		$	29.49		$	30.74		$	29.49
Tangible book value per share (period-end)		21.37			21.44			19.94			21.37			19.94
Weighted average number of shares - diluted		81,530			81,942			82,220			82,034			83,167
Period-end number of shares		80,426			81,567			82,237			80,426			82,237
Market data
High sales price	$	35.67		$	36.47		$	37.12		$	38.50		$	37.12
Low sales price		28.68			31.25			30.09			28.68			25.00
Period-end closing price		30.70			32.05			36.68			30.70			36.68
Trading volume		36,396			25,553			27,816			120,635			122,496

PERFORMANCE RATIOS
Return on average assets		0.79	%		0.94	%		0.74	%		0.90	%		0.86	%
Return on average assets (operating) (b)		0.92	%		1.00	%		0.97	%		1.00	%		0.99	%
Return on average common equity		6.34	%		7.42	%		5.85	%		7.10	%		6.84	%
Return on average common equity (operating) (b)		7.33	%		7.82	%		7.71	%		7.84	%		7.88	%
Return on average tangible common equity		9.08	%		10.70	%		8.79	%		10.30	%		10.30	%
Return on average tangible common equity (operating) (b)		10.50	%		11.28	%		11.59	%		11.37	%		11.85	%
Tangible common equity ratio (e)		8.59	%		9.10	%		9.00	%		8.59	%		9.00	%
Net interest margin (TE) (a)		3.63	%		3.81	%		4.09	%		3.87	%		4.20	%
Average loan/deposit ratio		85.44	%		85.24	%		79.93	%		84.02	%		77.56	%
Efficiency ratio (f)		62.41	%		61.84	%		65.94	%		62.03	%		65.17	%
Allowance for loan losses as a percent of period-end loans		0.93	%		0.94	%		1.08	%		0.93	%		1.08	%
Annualized net noncovered charge-offs to average loans		0.08	%		0.19	%		0.17	%		0.13	%		0.21	%
Allowance for loan losses to non-performing loans + accruing loans 90 days past due		137.96	%		128.44	%		111.97	%		137.96	%		111.97	%
Noninterest income excluding securities transactions as a percent of total revenue (TE) (a)		25.83	%		25.85	%		25.90	%		25.52	%		26.25	%

FTE Total Headcount		3,794			3,787			3,978			3,794			3,978

(a)	Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.

(b)	Net income less tax-effected securities transactions and nonoperating expense items. Management believes that operating income provides a useful measure of financial performance that helps investors compare the Company’s fundamental operations over time.

(c)	Operating income excluding tax-effected purchase accounting adjustments. Management believes that reporting on core income provides a useful measure of financial performance that helps investors determine whether management is successfully executing its strategic initiatives.

(d)	Average securities does not include unrealized holding gains/losses on available for sale securities.

(e)	The tangible common equity ratio is common shareholders’ equity less intangible assets divided by total assets less intangible assets.

(f)	The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income, excluding amortization of purchased intangibles, nonoperating expense items, and securities transactions.

HANCOCK HOLDING COMPANY

QUARTERLY HIGHLIGHTS

(Unaudited)


	Three Months Ended
(amounts in thousands, except per share data)	12/31/2014			9/30/2014			6/30/2014			3/31/2014			12/31/2013
INCOME STATEMENT DATA
Net interest income	$	160,813		$	163,541		$	164,778		$	165,562		$	166,007
Net interest income (TE) (a)		163,581			166,230			167,332			168,198			168,466
Provision for loan losses		9,718			9,468			6,691			7,963			7,331
Noninterest income excluding securities transactions		56,961			57,941			56,398			56,699			58,894
Securities transactions gains		—			—			—			—			105
Noninterest expense (excluding nonoperating expense items)		144,080			145,192			144,727			146,982			157,097
Nonoperating expense items		9,667			3,887			12,131			—			17,116
Net income		40,092			46,553			39,962			49,115			34,716
Operating income (b)		46,376			49,079			49,575			49,115			45,773
Core income (c)		41,537			41,176			38,736			37,742			32,847

PERIOD-END BALANCE SHEET DATA
Loans	$	13,895,276		$	13,348,574		$	12,884,056		$	12,527,937		$	12,324,817
Investment securities		3,826,454			3,913,370			3,677,229			3,797,883			4,033,124
Earning assets		18,544,930			17,748,600			17,023,990			16,622,104			16,651,295
Total assets		20,747,266			19,985,950			19,349,431			19,004,170			19,009,251
Noninterest-bearing deposits		5,945,208			5,866,255			5,723,663			5,613,872			5,530,253
Total deposits		16,572,831			15,736,694			15,245,227			15,274,774			15,360,516
Common shareholders’ equity		2,472,402			2,509,342			2,492,582			2,462,534			2,425,069

AVERAGE BALANCE SHEET DATA
Loans	$	13,578,223		$	13,102,108		$	12,680,861		$	12,379,316		$	11,903,603
Investment securities (d)		3,836,123			3,780,089			3,716,563			3,935,616			4,070,657
Earning assets		17,911,143			17,324,444			16,791,744			16,740,353			16,376,587
Total assets		20,090,372			19,549,947			19,039,264			19,055,107			18,739,091
Noninterest-bearing deposits		5,849,356			5,707,523			5,505,735			5,499,993			5,483,918
Total deposits		15,892,507			15,371,209			15,060,581			15,269,143			14,915,677
Common shareholders’ equity		2,509,509			2,489,948			2,463,385			2,435,980			2,355,768

COMMON SHARE DATA
Earnings per share - diluted	$	0.48		$	0.56		$	0.48		$	0.58		$	0.41
Operating earnings per share - diluted (b)		0.56			0.59			0.59			0.58			0.55
Core earnings per share - diluted (c)		0.50			0.49			0.46			0.45			0.39
Cash dividends per share	$	0.24		$	0.24		$	0.24		$	0.24		$	0.24
Book value per share (period-end)	$	30.74		$	30.76		$	30.45		$	29.93		$	29.49
Tangible book value per share (period-end)		21.37			21.44			21.08			20.47			19.94
Weighted average number of shares - diluted		81,530			81,942			82,174			82,534			82,220
Period-end number of shares		80,426			81,567			81,860			82,282			82,237
Market data
High sales price	$	35.67		$	36.47		$	37.86		$	38.50		$	37.12
Low sales price		28.68			31.25			32.02			32.66			30.09
Period-end closing price		30.70			32.05			35.32			36.65			36.68
Trading volume		36,396			25,553			27,432			31,328			27,816

PERFORMANCE RATIOS
Return on average assets		0.79	%		0.94	%		0.84	%		1.05	%		0.74	%
Return on average assets (operating) (b)		0.92	%		1.00	%		1.04	%		1.05	%		0.97	%
Return on average common equity		6.34	%		7.42	%		6.51	%		8.18	%		5.85	%
Return on average common equity (operating) (b)		7.33	%		7.82	%		8.07	%		8.18	%		7.71	%
Return on average tangible common equity		9.08	%		10.70	%		9.47	%		12.04	%		8.79	%
Return on average tangible common equity (operating) (b)		10.50	%		11.28	%		11.75	%		12.04	%		11.59	%
Tangible common equity ratio (e)		8.59	%		9.10	%		9.29	%		9.24	%		9.00	%
Net interest margin (TE) (a)		3.63	%		3.81	%		3.99	%		4.06	%		4.09	%
Average loan/deposit ratio		85.44	%		85.24	%		84.20	%		81.20	%		79.93	%
Efficiency ratio (f)		62.41	%		61.84	%		61.67	%		62.23	%		65.94	%
Allowance for loan losses as a percent of period-end loans		0.93	%		0.94	%		1.00	%		1.02	%		1.08	%
Annualized net noncovered charge-offs to average loans		0.08	%		0.19	%		0.13	%		0.13	%		0.17	%
Allowance for loan losses to non-performing loans + accruing loans 90 days past due		137.96	%		128.44	%		126.26	%		112.64	%		111.97	%
Noninterest income excluding securities transactions as a percent of total revenue (TE) (a)		25.83	%		25.85	%		25.21	%		25.21	%		25.90	%

FTE headcount		3,794			3,787			3,901			3,974			3,978

(a)	Tax-equivalent (TE) amounts are calculated using a federal income tax rate of 35%.

(b)	Net income less tax-effected securities transactions and nonoperating expense items. Management believes that operating income provides a useful measure of financial performance that helps investors compare the Company’s fundamental operations over time.

(c)	Operating income excluding tax-effected purchase accounting adjustments. Management believes that reporting on core income provides a useful measure of financial performance that helps investors determine whether management is successfully executing its strategic initiatives.

(d)	Average securities does not include unrealized holding gains/losses on available for sale securities.

(e)	The tangible common equity ratio is common shareholders’ equity less intangible assets divided by total assets less intangible assets.

(f)	The efficiency ratio is noninterest expense to total net interest (TE) and noninterest income, excluding amortization of purchased intangibles, nonoperating expense items, and securities transactions.

HANCOCK HOLDING COMPANY

INCOME STATEMENT

(Unaudited)


	Three Months Ended									Twelve Months Ended
(dollars in thousands, except per share data)	12/31/2014			9/30/2014			12/31/2013			12/31/2014			12/31/2013
NET INCOME
Interest income	$	170,971		$	172,701		$	175,650		$	692,813		$	722,210
Interest income (TE)		173,739			175,390			178,109			703,460			732,620
Interest expense		10,158			9,160			9,643			38,119			41,479

Net interest income (TE)		163,581			166,230			168,466			665,341			691,141
Provision for loan losses		9,718			9,468			7,331			33,840			32,734
Noninterest income excluding securities transactions		56,961			57,941			58,894			227,999			246,038
Securities transactions gains		—			—			105			—			105
Noninterest expense		153,747			149,079			174,213			606,666			678,274

Income before income taxes		54,309			62,935			43,462			242,187			215,866
Income tax expense		14,217			16,382			8,746			66,465			52,510

Net income	$	40,092		$	46,553		$	34,716		$	175,722		$	163,356

ADJUSTMENTS FROM NET TO OPERATING INCOME
Securities transactions gains		—			—			105			—			105
Nonoperating expense items
Impact of insurance business lines divestiture		—			—			—			(9,101	)		—
FDIC settlement		—			—			—			10,268			—
Expense and efficiency initiatives and other items		9,667			3,887			17,116			21,058			38,003
Early debt redemption		—			—			—			3,461			—

Total nonoperating expense items		9,667			3,887			17,116			25,686			38,003
Taxes on adjustments at marginal tax rate		3,383			1,361			5,954			7,263			13,264

Total adjustments (net of taxes)		6,284			2,526			11,057			18,423			24,634

Operating income (g)	$	46,376		$	49,079		$	45,773		$	194,145		$	187,990

Purchase accounting adjustments (net of taxes)		4,839			7,903			12,926			34,954			66,890

Core income (h)	$	41,537		$	41,176		$	32,847		$	159,191		$	121,100

NONINTEREST INCOME AND NONINTEREST EXPENSE
Service charges on deposit accounts	$	19,025		$	20,000		$	19,605		$	77,006		$	79,000
Trust fees		11,559			11,530			10,214			44,826			38,186
Bank card and ATM fees		11,225			11,641			11,261			45,031			45,939
Investment & annuity fees		4,736			5,506			4,619			20,291			19,574
Secondary mortgage market operations		2,000			2,313			1,554			8,036			12,543
Insurance fees		1,862			1,979			3,304			9,473			15,804
Amortization of FDIC loss share receivable		(2,113	)		(2,760	)		(1,649	)		(12,102	)		(2,239	)
Other income		8,667			7,732			9,986			35,438			37,231

Noninterest income excluding securities transactions		56,961			57,941			58,894			227,999			246,038
Securities transactions gains		—			—			105			—			105

Total noninterest income including securities transactions	$	56,961		$	57,941		$	58,999		$	227,999		$	246,143

Personnel expense	$	79,522		$	80,043		$	84,912		$	320,502		$	347,267
Occupancy expense (net)		10,571			10,798			11,613			43,476			48,847
Equipment expense		3,986			4,542			4,679			16,861			19,885
Other real estate owned expense (net)		1,001			(104	)		1,535			2,758			8,036
Other operating expense		42,555			43,343			47,180			170,586			186,766
Amortization of intangibles		6,445			6,570			7,178			26,797			29,470

Total operating expense		144,080			145,192			157,097			580,980			640,271
Nonoperating expense items		9,667			3,887			17,116			25,686			38,003

Total noninterest expense	$	153,747		$	149,079		$	174,213		$	606,666		$	678,274

COMMON SHARE DATA
Earnings per share:
Basic	$	0.48		$	0.56		$	0.41		$	2.10		$	1.93
Diluted		0.48			0.56			0.41			2.10			1.93
Operating earnings per share:
Basic	$	0.56		$	0.59		$	0.55		$	2.32		$	2.22
Diluted		0.56			0.59			0.55			2.32			2.22
Core earnings per share:
Basic	$	0.50		$	0.49		$	0.39			1.90		$	1.43
Diluted		0.50			0.49			0.39			1.90			1.43

(g)	Net income less tax-effected securities transactions and nonoperating expense items. Management believes that operating income provides a useful measure of financial performance that helps investors compare the Company’s fundamental operations over time.

(h)	Operating income excluding tax-effected purchase accounting adjustments. Management believes that reporting on core income provides a useful measure of financial performance that helps investors determine whether management is successfully executing its strategic initiatives.

HANCOCK HOLDING COMPANY

INCOME STATEMENT

(Unaudited)


	Three months ended
(dollars in thousands)	12/31/2014			9/30/2014			6/30/2014			3/31/2014			12/31/2013
Interest income	$	170,971		$	172,701		$	174,001		$	175,140		$	175,650
Interest income (TE)		173,739			175,390			176,555			177,776			178,109
Interest expense		10,158			9,160			9,223			9,578			9,643

Net interest income (TE)		163,581			166,230			167,332			168,198			168,466
Provision for loan losses		9,718			9,468			6,691			7,963			7,331
Noninterest income excluding securities transactions		56,961			57,941			56,398			56,699			58,894
Securities transactions gains		—			—			—			—			105
Noninterest expense		153,747			149,079			156,858			146,982			174,213

Income before income taxes		54,309			62,935			57,627			67,316			43,462
Income tax expense		14,217			16,382			17,665			18,201			8,746

Net income	$	40,092		$	46,553		$	39,962		$	49,115		$	34,716

ADJUSTMENTS FROM NET TO OPERATING INCOME
Securities transactions gains		—			—			—			—			105
Total nonoperating expense items		9,667			3,887			12,131			—			17,116
Taxes on adjustments at marginal tax rate		3,383			1,361			2,518			—			5,954

Adjustments (net of taxes)		6,284			2,526			9,613			—			11,057

Operating income (g)	$	46,376		$	49,079		$	49,575		$	49,115		$	45,773

Core income (h)	$	41,537		$	41,176		$	38,736		$	37,742		$	32,847

NONINTEREST INCOME AND NONINTEREST EXPENSE
Service charges on deposit accounts	$	19,025		$	20,000		$	19,269		$	18,712		$	19,605
Trust fees		11,559			11,530			11,499			10,238			10,214
Bank card and ATM fees		11,225			11,641			11,596			10,569			11,261
Investment & annuity fees		4,736			5,506			5,097			4,952			4,619
Secondary mortgage market operations		2,000			2,313			1,758			1,965			1,554
Insurance fees		1,862			1,979			1,888			3,744			3,304
Amortization of FDIC loss share receivable		(2,113	)		(2,760	)		(3,321	)		(3,908	)		(1,649	)
Other income		8,667			7,732			8,612			10,427			9,986

Noninterest income excluding securities transactions		56,961			57,941			56,398			56,699			58,894
Securities transactions gains		—			—			—			—			105

Total noninterest income including securities transactions	$	56,961		$	57,941		$	56,398		$	56,699		$	58,999

Personnel expense	$	79,522		$	80,043		$	79,506		$	81,432		$	84,912
Occupancy expense (net)		10,571			10,798			10,840			11,266			11,613
Equipment expense		3,986			4,542			4,059			4,274			4,679
Other real estate owned expense (net)		1,001			(104	)		84			1,777			1,535
Other operating expense		42,555			43,343			43,494			41,195			47,180
Amortization of intangibles		6,445			6,570			6,744			7,038			7,178

Total operating expense		144,080			145,192			144,727			146,982			157,097
Nonoperating expense items		9,667			3,887			12,131			—			17,116

Total noninterest expense	$	153,747		$	149,079		$	156,858		$	146,982		$	174,213

(g)	Net income less tax-effected securities transactions and nonoperating expense items. Management believes that operating income provides a useful measure of financial performance that helps investors compare the Company’s fundamental operations over time.

(h)	Operating income excluding tax-effected purchase accounting adjustments. Management believes that reporting on core income provides a useful measure of financial performance that helps investors determine whether management is successfully executing its strategic initiatives.

HANCOCK HOLDING COMPANY

PERIOD-END BALANCE SHEET

(Unaudited)


	Three Months Ended
(dollars in thousands)	12/31/2014			9/30/2014			6/30/2014			3/31/2014			12/31/2013
ASSETS
Commercial non-real estate loans	$	6,044,060		$	5,587,137		$	5,393,691		$	5,198,029		$	5,064,224
Construction and land development loans		1,106,761			1,095,902			1,040,656			978,798			915,541
Commercial real estate loans		3,144,048			3,100,834			3,056,263			3,069,316			3,042,841
Residential mortgage loans		1,894,181			1,858,490			1,771,271			1,720,307			1,720,614
Consumer loans		1,706,226			1,706,211			1,622,175			1,561,487			1,581,597

Total loans		13,895,276			13,348,574			12,884,056			12,527,937			12,324,817
Loans held for sale		20,252			15,098			22,017			15,911			24,515
Securities		3,826,454			3,913,370			3,677,229			3,797,883			4,033,124
Short-term investments		802,948			471,558			440,688			280,373			268,839

Earning assets		18,544,930			17,748,600			17,023,990			16,622,104			16,651,295
Allowance for loan losses		(128,762	)		(125,572	)		(128,672	)		(128,248	)		(133,626	)
Goodwill		621,193			621,193			621,193			625,675			625,675
Other intangible assets, net		132,810			139,256			145,825			152,734			159,773
Other assets		1,577,095			1,602,473			1,687,095			1,731,905			1,706,134

Total assets	$	20,747,266		$	19,985,950		$	19,349,431		$	19,004,170		$	19,009,251

LIABILITIES
Noninterest-bearing deposits	$	5,945,208		$	5,866,255		$	5,723,663		$	5,613,872		$	5,530,253
Interest-bearing transaction and savings deposits		6,531,628			6,325,671			6,079,837			6,118,150			6,162,959
Interest-bearing public fund deposits		1,982,616			1,534,678			1,484,188			1,451,430			1,571,532
Time deposits		2,113,379			2,010,090			1,957,539			2,091,322			2,095,772

Total interest-bearing deposits		10,627,623			9,870,439			9,521,564			9,660,902			9,830,263

Total deposits		16,572,831			15,736,694			15,245,227			15,274,774			15,360,516
Short-term borrowings		1,151,573			1,171,809			1,063,664			712,634			657,960
Long-term debt		374,371			376,452			374,991			380,001			385,826
Other liabilities		176,089			191,653			172,967			174,227			179,880

Total liabilities		18,274,864			17,476,608			16,856,849			16,541,636			16,584,182

COMMON SHAREHOLDERS’ EQUITY
Common stock and capital surplus		1,798,980			1,832,529			1,838,931			1,837,461			1,832,282
Retained earnings		723,497			703,506			676,942			657,062			628,166
Accumulated other comprehensive income		(50,075	)		(26,693	)		(23,291	)		(31,989	)		(35,379	)

Total common shareholders’ equity		2,472,402			2,509,342			2,492,582			2,462,534			2,425,069

Total liabilities & shareholders’ equity	$	20,747,266		$	19,985,950		$	19,349,431		$	19,004,170		$	19,009,251

CAPITAL RATIOS
Tangible common equity	$	1,718,343		$	1,748,828		$	1,725,489		$	1,684,037		$	1,639,524
Tier 1 capital (i)		1,777,280			1,784,588			1,758,178			1,725,947			1,685,058
Common equity (period-end) as a percent of total assets (period-end)		11.92	%		12.56	%		12.88	%		12.96	%		12.76	%
Tangible common equity ratio		8.59	%		9.10	%		9.29	%		9.24	%		9.00	%
Leverage (Tier 1) ratio (i)		9.17	%		9.48	%		9.61	%		9.43	%		9.34	%
Tier 1 risk-based capital ratio (i)		11.22	%		11.59	%		11.83	%		11.90	%		11.76	%
Total risk-based capital ratio (i)		12.29	%		12.66	%		12.96	%		13.20	%		13.11	%

(i)	Estimated for most recent period-end.

HANCOCK HOLDING COMPANY

AVERAGE BALANCE SHEET

(Unaudited)


	Three Months Ended									Twelve Months Ended
(dollars in thousands)	12/31/2014			9/30/2014			12/31/2013			12/31/2014			12/31/2013
ASSETS
Commercial non-real estate loans	$	5,727,003		$	5,485,982		$	4,782,476		$	5,401,992		$	4,612,208
Construction and land development loans		1,159,378			1,070,763			931,214			1,047,753			965,237
Commercial real estate loans		3,057,022			3,070,821			2,915,323			3,058,355			2,899,317
Residential mortgage loans		1,886,230			1,814,186			1,701,144			1,791,859			1,638,103
Consumer loans		1,748,590			1,660,356			1,573,446			1,638,910			1,585,353

Total loans		13,578,223			13,102,108			11,903,603			12,938,869			11,700,218
Loans held for sale		15,424			16,885			18,776			16,540			24,986
Securities (j)		3,836,123			3,780,089			4,070,657			3,816,724			4,140,051
Short-term investments		481,373			425,362			383,551			423,359			578,613

Earning assets		17,911,143			17,324,444			16,376,587			17,195,492			16,443,868
Allowance for loan losses		(127,356	)		(129,734	)		(138,708	)		(129,642	)		(137,897	)
Goodwill and other intangible assets		757,123			763,652			788,990			768,047			799,996
Other assets		1,549,462			1,591,585			1,712,222			1,602,930			1,823,051

Total assets	$	20,090,372		$	19,549,947		$	18,739,091		$	19,436,827		$	18,929,018

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	5,849,356		$	5,707,523		$	5,483,918		$	5,641,792		$	5,393,955

Interest-bearing transaction and savings deposits		6,380,347			6,160,911			5,981,110			6,173,683			5,962,114
Interest-bearing public fund deposits		1,598,482			1,547,513			1,253,199			1,530,972			1,410,679
Time deposits		2,064,322			1,955,262			2,197,450			2,053,546			2,350,488

Total interest-bearing deposits		10,043,151			9,663,686			9,431,759			9,758,201			9,723,281

Total deposits		15,892,507			15,371,209			14,915,677			15,399,993			15,117,236
Short-term borrowings		1,135,255			1,139,694			848,934			1,005,680			806,082
Long-term debt		376,819			375,914			381,561			379,692			389,153
Other liabilities		176,282			173,182			237,151			176,514			229,983
Common shareholders’ equity		2,509,509			2,489,948			2,355,768			2,474,948			2,386,564

Total liabilities & shareholders’ equity	$	20,090,372		$	19,549,947		$	18,739,091		$	19,436,827		$	18,929,018

(j)	Average securities does not include unrealized holding gains/losses on available for sale securities.

HANCOCK HOLDING COMPANY

AVERAGE BALANCE AND NET INTEREST MARGIN SUMMARY

(Unaudited)


	Three Months Ended
	12/31/2014							9/30/2014							12/31/2013
(dollars in millions)	Volume		Interest		Rate			Volume		Interest		Rate			Volume		Interest		Rate
AVERAGE EARNING ASSETS
Commercial & real estate loans (TE)	$	9,943.4	$	105.8		4.23	%	$	9,627.6	$	108.2		4.46	%	$	8,629.0	$	104.1		4.79	%
Residential mortgage loans		1,886.2		20.3		4.31	%		1,814.2		20.0		4.41	%		1,701.1		23.5		5.52	%
Consumer loans		1,748.6		23.9		5.43	%		1,660.4		24.0		5.74	%		1,573.4		24.4		6.15	%
Loan fees & late charges		—		0.6		0.00	%		—		0.4		0.00	%		—		1.0		0.00	%

Total loans (TE)		13,578.2		150.6		4.41	%		13,102.2		152.6		4.63	%		11,903.5		153.0		5.10	%

Loans held for sale		15.4		0.2		4.27	%		16.9		0.1		4.66	%		18.8		0.2		3.47	%

US Treasury and government agency securities		300.0		1.1		1.52	%		184.8		0.7		1.47	%		100.2		0.6		2.20	%
CMOs and mortgage backed securities		3,324.5		19.1		2.30	%		3,379.2		19.2		2.27	%		3,725.4		21.6		2.33	%
Municipals (TE)		199.3		2.3		4.63	%		203.7		2.4		4.62	%		235.8		2.4		4.14	%
Other securities		12.3		0.1		2.24	%		12.3		0.1		2.21	%		9.3		0.1		2.49	%

Total securities (TE) (j)		3,836.1		22.6		2.36	%		3,780.0		22.4		2.36	%		4,070.7		24.7		2.43	%

Total short-term investments		481.4		0.3		0.23	%		425.3		0.3		0.23	%		383.6		0.2		0.23	%

Average earning assets yield (TE)	$	17,911.1		173.7		3.86	%	$	17,324.4		175.4		4.02	%	$	16,376.6		178.1		4.32	%

INTEREST-BEARING LIABILITIES
Interest-bearing transaction and savings deposits	$	6,380.3		2.1		0.13	%	$	6,160.9		1.6		0.11	%	$	5,981.1		1.4		0.09	%
Time deposits		2,064.3		3.5		0.68	%		1,955.3		3.1		0.64	%		2,197.5		3.3		0.60	%
Public funds		1,598.5		1.1		0.28	%		1,547.5		1.1		0.27	%		1,253.2		0.7		0.21	%

Total interest-bearing deposits		10,043.1		6.7		0.27	%		9,663.7		5.8		0.24	%		9,431.8		5.4		0.23	%

Short-term borrowings		1,135.3		0.3		0.09	%		1,139.7		0.2		0.08	%		848.9		1.1		0.51	%
Long-term debt		376.8		3.1		3.28	%		375.9		3.2		3.27	%		381.6		3.2		3.29	%

Total borrowings		1,512.1		3.4		0.88	%		1,515.6		3.4		0.87	%		1,230.5		4.3		1.37	%

Total interest-bearing liabilities cost		11,555.2		10.1		0.35	%		11,179.3		9.2		0.33	%		10,662.3		9.7		0.36	%

Net interest-free funding sources		6,355.9							6,145.1							5,714.3

Total cost of funds		17,911.1		10.1		0.23	%		17,324.4		9.2		0.21	%		16,376.6		9.7		0.23	%

Net Interest Spread (TE)			$	163.6		3.51	%			$	166.2		3.69	%			$	168.5		3.96	%

Net Interest Margin (TE)	$	17,911.1	$	163.6		3.63	%	$	17,324.4	$	166.2		3.81	%	$	16,376.6	$	168.5		4.09	%

(j)	Average securities does not include unrealized holding gains/losses on available for sale securities.

HANCOCK HOLDING COMPANY

AVERAGE BALANCE AND NET INTEREST MARGIN SUMMARY

(Unaudited)


	Twelve Months Ended
	12/31/2014							12/31/2013
(dollars in millions)	Volume		Interest		Rate			Volume		Interest		Rate
AVERAGE EARNING ASSETS
Commercial & real estate loans (TE)	$	9,508.1	$	430.2		4.52	%	$	8,476.8	$	430.3		5.08	%
Residential mortgage loans		1,791.9		82.7		4.61	%		1,638.1		101.8		6.21	%
Consumer loans		1,638.9		94.7		5.78	%		1,585.4		103.1		6.50	%
Loan fees & late charges		—		2.4		0.00	%		—		3.5		0.00	%

Total loans (TE)		12,938.9		610.0		4.71	%		11,700.2		638.7		5.45	%

Loans held for sale		16.5		0.7		4.28	%		25.0		0.9		3.60	%

US Treasury and government agency securities		145.2		2.3		1.62	%		28.1		0.1		2.16	%
CMOs and mortgage backed securities		3,450.9		79.6		2.31	%		3,870.1		81.9		2.12	%
Municipals (TE)		206.4		9.5		4.61	%		233.3		10.3		4.43	%
Other securities		14.2		0.3		2.22	%		8.5		0.2		2.44	%

Total securities (TE) (j)		3,816.7		91.7		2.40	%		4,140.1		92.5		2.23	%

Total short-term investments		423.4		1.0		0.23	%		578.6		1.4		0.24	%

Average earning assets yield (TE)	$	17,195.5		703.4		4.09	%	$	16,443.9		732.6		4.45	%

INTEREST-BEARING LIABILITIES
Interest-bearing transaction and savings deposits	$	6,173.7		6.7		0.11	%	$	5,962.1		6.0		0.10	%
Time deposits		2,053.5		12.8		0.62	%		2,350.5		14.9		0.63	%
Public funds		1,531.0		3.7		0.24	%		1,410.7		3.3		0.23	%

Total interest-bearing deposits		9,758.2		23.2		0.24	%		9,723.3		24.2		0.25	%

Short-term borrowings		1,005.7		2.4		0.23	%		806.1		4.5		0.56	%
Long-term debt		379.7		12.5		3.30	%		389.2		12.8		3.28	%

Total borrowings		1,385.4		14.9		1.08	%		1,195.3		17.3		1.45	%

Total interest-bearing liabilities cost		11,143.6		38.1		0.34	%		10,918.5		41.5		0.38	%

Net interest-free funding sources		6,051.9							5,525.4

Total cost of funds		17,195.5		38.1		0.22	%		16,443.9		41.5		0.25	%

Net Interest Spread (TE)			$	665.3		3.75	%			$	691.1		4.07	%

Net Interest Margin (TE)	$	17,195.5	$	665.3		3.87	%	$	16,443.9	$	691.1		4.20	%

(j)	Average securities does not include unrealized holding gains/losses on available for sale securities.

HANCOCK HOLDING COMPANY

ASSET QUALITY INFORMATION

(Unaudited)


	Three Months Ended									Twelve Months Ended
(dollars in thousands)	12/31/2014			9/30/2014			12/31/2013			12/31/2014			12/31/2013
Nonaccrual loans (k)	$	79,537		$	83,154		$	99,711		$	79,537		$	99,711
Restructured loans - still accruing		8,971			7,944			9,247			8,971			9,247

Total nonperforming loans		88,508			91,098			108,958			88,508			108,958
ORE and foreclosed assets		59,569			56,081			76,979			59,569			76,979

Total nonperforming assets	$	148,077		$	147,179		$	185,937		$	148,077		$	185,937

Nonperforming assets as a percent of loans, ORE and foreclosed assets		1.06	%		1.10	%		1.50	%		1.06	%		1.50	%
Accruing loans 90 days past due	$	4,825		$	6,667		$	10,387		$	4,825		$	10,387
Accruing loans 90 days past due as a percent of loans		0.03	%		0.05	%		0.08	%		0.03	%		0.08	%
Nonperforming assets + accruing loans 90 days past due to loans, ORE and foreclosed assets		1.10	%		1.15	%		1.58	%		1.10	%		1.58	%

ALLOWANCE FOR LOAN LOSSES
Beginning Balance	$	125,572		$	128,672		$	138,223		$	133,626		$	136,171
Net provision for loan losses - covered loans		(160	)		(391	)		(532	)		(926	)		7,455
Provision for loan losses - noncovered loans		9,878			9,859			7,863			34,766			25,279

Net provision for loan losses		9,718			9,468			7,331			33,840			32,734

(Decrease) increase in FDIC loss share receivable		(4,514	)		(6,695	)		(10,111	)		(19,084	)		(8,615	)
Net charge-offs - covered		(624	)		(566	)		(3,399	)		2,501			2,355
Charge-offs - noncovered		8,229			8,482			11,515			31,502			42,899
Recoveries - noncovered		(5,591	)		(2,043	)		(6,299	)		(14,383	)		(18,590	)

Net charge-offs		2,014			5,873			1,817			19,620			26,664

Ending Balance	$	128,762		$	125,572		$	133,626		$	128,762		$	133,626

Allowance for loan losses as a percent of period-end loans		0.93	%		0.94	%		1.08	%		0.93	%		1.08	%
Allowance for loan losses to nonperforming loans + accruing loans 90 days past due		137.96	%		128.44	%		111.97	%		137.96	%		111.97	%

NET CHARGE-OFF INFORMATION
Net charge-offs - noncovered:
Commercial & real estate loans	$	1,446		$	2,451		$	2,183		$	6,437		$	11,684
Residential mortgage loans		349			558			(197	)		1,641			361
Consumer loans		843			3,430			3,230			9,041			12,264

Total net charge-offs - noncovered	$	2,638		$	6,439		$	5,216		$	17,119		$	24,309

Net charge-offs - noncovered to average loans:
Commercial & real estate loans		0.06	%		0.10	%		0.10	%		0.07	%		0.14	%
Residential mortgage loans		0.07	%		0.12	%		(0.05	)%		0.09	%		0.02	%
Consumer loans		0.19	%		0.82	%		0.81	%		0.55	%		0.77	%

Total net charge-offs - noncovered to average loans		0.08	%		0.19	%		0.17	%		0.13	%		0.21	%

(k)

Nonaccrual loans and accruing loans past due 90 days or more do not include acquired credit-impaired loans which were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan. Included in nonaccrual loans are $7.0 million, $9.9 million, and $15.7 million at 12/31/14, 9/30/14 and 12/31/13, respectively, in nonaccruing restructured loans.

HANCOCK HOLDING COMPANY

ASSET QUALITY INFORMATION

(Unaudited)


	Three months ended
(dollars in thousands)	12/31/2014			9/30/2014			6/30/2014			3/31/2014			12/31/2013
Nonaccrual loans	$	79,537		$	83,154		$	89,901		$	101,400		$	99,711
Restructured loans - still accruing		8,971			7,944			7,868			8,459			9,247

Total nonperforming loans		88,508			91,098			97,769			109,859			108,958
ORE and foreclosed assets		59,569			56,081			59,732			69,813			76,979

Total nonperforming assets	$	148,077		$	147,179		$	157,501		$	179,672		$	185,937

Nonperforming assets as a percent of loans, ORE and foreclosed assets		1.06	%		1.10	%		1.22	%		1.43	%		1.50	%
Accruing loans 90 days past due	$	4,825		$	6,667		$	4,142		$	3,998		$	10,387
Accruing loans 90 days past due as a percent of loans		0.03	%		0.05	%		0.03	%		0.03	%		0.08	%
Nonperforming assets + accruing loans 90 days past due to loans, ORE and foreclosed assets		1.10	%		1.15	%		1.25	%		1.46	%		1.58	%

Allowance for loan losses	$	128,762		$	125,572		$	128,672		$	128,248		$	133,626
Allowance for loan losses as a percent of period-end loans		0.93	%		0.94	%		1.00	%		1.02	%		1.08	%
Allowance for loan losses to nonperforming loans + accruing loans 90 days past due		137.96	%		128.44	%		126.26	%		112.64	%		111.97	%

Provision for loan losses	$	9,718		$	9,468		$	6,691		$	7,963		$	7,331

NET CHARGE-OFF INFORMATION
Net charge-offs - noncovered:
Commercial & real estate loans	$	1,446		$	2,451		$	1,148		$	1,392		$	2,183
Residential mortgage loans		349			558			587			147			(197	)
Consumer loans		843			3,430			2,329			2,439			3,230

Total net charge-offs - noncovered	$	2,638		$	6,439		$	4,064		$	3,978		$	5,216

Net charge-offs - noncovered to average loans:
Commercial & real estate loans		0.06	%		0.10	%		0.05	%		0.06	%		0.10	%
Residential mortgage loans		0.07	%		0.12	%		0.13	%		0.03	%		(0.05	)%
Consumer loans		0.19	%		0.82	%		0.59	%		0.63	%		0.81	%

Total net charge-offs - noncovered to average loans		0.08	%		0.19	%		0.13	%		0.13	%		0.17	%

AVERAGE LOANS
Commercial & real estate loans	$	9,943,403		$	9,627,566		$	9,355,196		$	9,095,606		$	8,629,013
Residential mortgage loans		1,886,230			1,814,186			1,744,313			1,720,640			1,701,144
Consumer loans		1,748,590			1,660,356			1,581,352			1,563,070			1,573,446

Total average loans	$	13,578,223		$	13,102,108		$	12,680,861		$	12,379,316		$	11,903,603

HANCOCK HOLDING COMPANY

SUPPLEMENTAL ASSET QUALITY INFORMATION

(Unaudited)


	Originated Loans		Acquired Loans (l)			FDIC Acquired (m)			Total
(dollars in thousands)	12/31/2014
Nonaccrual loans (n)	$	71,296	$	6,139		$	2,102		$	79,537
Restructured loans - still accruing		8,971		—			—			8,971

Total nonperforming loans		80,267		6,139			2,102			88,508
ORE and foreclosed assets (o)		40,148		—			19,421			59,569

Total nonperforming assets	$	120,415	$	6,139		$	21,523		$	148,077

Accruing loans 90 days past due	$	4,564	$	261			—		$	4,825
Allowance for loan losses	$	97,701	$	477		$	30,584		$	128,762


	9/30/2014
Nonaccrual loans (n)	$	68,362	$	11,572		$	3,220		$	83,154
Restructured loans - still accruing		7,944		—			—			7,944

Total nonperforming loans		76,306		11,572			3,220			91,098
ORE and foreclosed assets (o)		38,096		—			17,985			56,081

Total nonperforming assets	$	114,402	$	11,572		$	21,205		$	147,179

Accruing loans 90 days past due	$	5,149	$	1,518			—		$	6,667
Allowance for loan losses	$	81,822	$	9,117		$	34,633		$	125,572


	Originated Loans		Acquired Loans (l)			FDIC Acquired (m)			Total
LOANS OUTSTANDING	12/31/2014
Commercial non-real estate loans	$	5,917,728	$	120,137		$	6,195		$	6,044,060
Construction and land development loans		1,073,964		21,123			11,674			1,106,761
Commercial real estate loans		2,428,195		688,045			27,808			3,144,048
Residential mortgage loans		1,704,770		2,378			187,033			1,894,181
Consumer loans		1,685,542		985			19,699			1,706,226

Total loans	$	12,810,199	$	832,668		$	252,409		$	13,895,276

Change in loan balance from previous quarter	$	1,524,631	($	949,508	)	($	28,421	)	$	546,702


	9/30/2014
Commercial non-real estate loans	$	4,806,740	$	769,226		$	11,171		$	5,587,137
Construction and land development loans		974,442		110,294			11,166			1,095,902
Commercial real estate loans		2,245,855		813,429			41,550			3,100,834
Residential mortgage loans		1,635,462		37,739			185,289			1,858,490
Consumer loans		1,623,069		51,488			31,654			1,706,211

Total loans	$	11,285,568	$	1,782,176		$	280,830		$	13,348,574

Change in loan balance from previous quarter	$	627,116	($	139,603	)	($	22,995	)	$	464,518

(l)	Loans which have been acquired and no allowance brought forward in accordance with acquisition accounting. Acquired-performing loans in pools with fully accreted purchase fair value discounts are reported as originated loans.

(m)	Loans acquired in an FDIC-assisted transaction. Non-single family loss share agreement expired at 12/31/14. As of 12/31/14, $196.7 million in loans and $7.1 million in ORE remain covered by the FDIC single family loss share agreement, providing considerable protection against credit risk.

(n)	Included in originated nonaccrual loans are $7.0 million and $9.9 million at 12/31/14 and 09/30/14, respectively, in nonaccruing restructured loans.

(o)	ORE received in settlement of acquired loans is no longer subject to purchase accounting guidance and has been included with ORE from originated loans. ORE received in settlement of covered loans remains covered under the FDIC loss share agreements.

Fourth Quarter 2014

Financial Results

January 22, 2015

Fourth Quarter 2014

Financial Results

January 22, 2015

Certain of the statements or information included in this presentation may constitute

forward-looking statements. Forward-looking statements include projections of revenue,

costs, results of operations or financial condition or statements regarding future market

conditions or our potential plans and strategies for the future.

Hancock’s ability to

accurately project results, predict the effects of future plans or strategies, or predict

market or economic developments is inherently limited.

We believe that the expectations reflected or implied by any forward-looking statements

are based on reasonable assumptions, but actual results and performance could differ

materially from those set forth in the forward-looking statements. Factors that could

cause actual results or outcomes to differ from those expressed in the Company's

forward-looking statements include, but are not limited to, those outlined in Hancock's

SEC filings, including the “Risk Factors”

section of the Company’s 10-K for the year

ended December 31, 2013 and form 10-Q for the most recent quarter end.

Hancock undertakes no obligation to update or revise any forward-looking statements,

and you are cautioned not to place undue reliance on such forward-looking statements.

Forward Looking Statement

Hancock Holding Company

•

$21 billion in Total Assets

•

$14 billion in Total Loans

•

$17 billion in Total Deposits

•

ROA (operating) 0.92%

•

ROTCE (operating) 10.50%

•

NIM 3.63%

•

Efficiency Ratio 62.4%

•

Tangible Common Equity (TCE) 8.59%

•

Rated among the strongest, safest

financial institutions in the country by

BauerFinancial, Inc.

•

Earned top customer service marks with

Greenwich Excellence Awards

December

31,

2014

and

quarter

2014

2014 Highlights

•

Core earnings up $38 million, or 31%, and covered

120% of the after-tax runoff in purchase accounting

adjustments

•

Core E.P.S. up $.47 or 33%

•

Loans up $1.6 billion, or 13%, funded almost

entirely by deposit growth (up $1.2 billion, or 8%)

•

Stable core NIM

•

Achieved $50 million cost reduction goal

3 quarters early

•

Core revenue growth began in second half of 2014

and helped lower the operating efficiency ratio

314bps

•

Maintained strong credit quality and solid capital

($s in millions; except per share

data)

2014

2013

Fav/

(unfav)

Net Income

$175.7

$163.4

Earnings Per Share (diluted)

$2.10

$1.93

Operating Income*

$194.1

$188.0

Operating Earnings Per Share

$2.32

$2.22

Core Income**

$159.2

$121.1

31%

Core Earnings Per Share

$1.90

$1.43

33%

Nonoperating expense items

$25.7

$38.0

32%

Return on Assets (operating) (%)

1.00

0.99

1bp

Return on Tangible Common

Equity (operating) (%)

11.37

11.85

(48bps)

Total Loans

$13,895

$12,325

13%

Total Deposits

$16,573

$15,361

Net Interest Margin (%)

3.87

4.20

(33bps)

Net Interest Margin (%) (core)

3.33

3.39

(6bps)

Net Charge-offs (%)

(non-covered)

0.13

0.21

8bps

Tangible Common Equity (%)

8.59

9.00

(41bps)

Efficiency Ratio*** (%)

62.03

65.17

314bps

* Operating income is defined as net income excluding tax-effected securities transactions gains or losses and nonoperating expense items.

** Core income is defined as operating income less purchase accounting adjustments. See table on slide 28.

*** Noninterest expense to total revenue (TE) excluding amortization of purchased intangibles, nonoperating expense items, and securities transactions.

Fourth Quarter 2014 Highlights

•

Steep declines in purchase accounting

adjustments over the last 2 quarters ($5 million in

each 3Q & 4Q) were offset by higher core

earnings with only a slight drop in operating

earnings

•

Higher core revenue of $7 million over the last 2

quarters achieved with operating expenses

essentially flat

•

Organic balance sheet growth momentum builds

in 4Q with loans up $547 million, or 16% LQA,

funded entirely by deposits (up $836 million, or

21% LQA)

•

Solid capital with a tangible common equity

(TCE) ratio at 8.59%, after using approximately

$38 million of capital to buyback stock during

the quarter and notwithstanding strong asset

growth

•

Minimal net charge-offs with a $7 million

increase in the allowance for noncovered loans

($s in millions; except per share

data)

4Q14

3Q14

Fav/

(unfav)

Net Income

$40.1

$46.6

(14%)

Earnings Per Share (diluted)

$.48

$.56

(14%)

Operating Income*

$46.4

$49.1

(5%)

Operating Earnings Per Share

$.56

$.59

(5%)

Core Income**

$41.5

$41.2

Core Earnings Per Share

$.50

$.49

Nonoperating expense items

$9.7

$3.9

n/m

Return on Assets (operating) (%)

0.92

1.00

(8bps)

Return on Tangible Common

Equity (operating) (%)

10.50

11.28

(78bps)

Total Loans

$13,895

$13,349

Total Deposits

$16,573

$15,737

Net Interest Margin (%)

3.63

3.81

(18bps)

Net Interest Margin (%) (core)

3.27

3.32

(5bps)

Net Charge-offs (%)

(non-covered)

0.08

0.19

11bps

Tangible Common Equity (%)

8.59

9.10

(51bps)

Efficiency Ratio*** (%)

62.41

61.84

(57bps)

* Operating income is defined as net income excluding tax-effected securities transactions gains or losses and nonoperating expense items.

** Core income is defined as operating income less purchase accounting adjustments. See table on slide 28.

*** Noninterest expense to total revenue (TE) excluding amortization of purchased intangibles, nonoperating expense items, and securities transactions.

Improving Trends in Core Results;

Narrowing The Gap Between Operating and Core

E.P.S.

ROA

Core income is defined as operating income less purchase accounting adjustments (PAA). PAA items include loan accretion from Whitney and Peoples First, offset by amortization of the

Whitney bond portfolio premium, amortization of the Peoples First indemnification asset and amortization of intangibles. Operating income is defined as net income excluding tax-effected

securities transactions gains or losses and nonoperating expense

items. See table on slide 28.

Expect to eliminate the gap and begin reporting growth in operating results in 2015

$0.34

$0.36

$0.34

$0.39

$0.45

$0.46

$0.49

$0.50

$0.56

$0.55

$0.56

$0.55

$0.58

$0.59

$0.56

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

"PAA Gap"

Core EPS

Operating EPS

$0.22

$0.19

$0.22

$0.16

$0.13

$0.10

$0.06

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

0.62%

0.64%

0.61%

0.70%

0.80%

0.82%

0.84%

0.82%

1.03%

0.99%

0.97%

1.05%

1.04%

1.00%

0.92%

0.41%

0.35%

0.38%

0.27%

0.25%

0.22%

0.16%

0.10%

"PAA Gap"

Core ROA

Operating ROA

Less Than $5 Million Quarterly Gap

Between Operating and Core Net Income

Core income is defined as operating income less purchase accounting adjustments (PAA). PAA items include loan accretion from Whitney and Peoples First, offset by amortization of the

Whitney bond portfolio premium, amortization of the Peoples First indemnification asset and amortization of intangibles. Operating income is defined as net income excluding tax-effected

securities transactions gains or losses and nonoperating expense

items. See table on slide 28.

$12.3 million increase in quarterly core earnings since 1Q13 offset 85% of the decline in PAA income

$10

$20

$30

$40

$50

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

$19.4

$16.6

$18.1

$13.0

$11.4

$10.9

$7.9

$4.9

$29.2

$30.3

$28.7

$32.8

$37.7

$38.7

$41.2

$41.5

$48.6

$46.9

$46.8

$45.8

$49.1

$49.6

$49.1

$46.4

"PAA Gap"

Core income

Operating income

Switch From Focus On Expense Reductions To

Revenue Growth In Offsetting Declining PAA

Insurance

Business Lines

Divestiture

26 Branch

Closures

12 Branch

Sales/Closures

$s in millions

Core revenue up $7 million last 2 quarters while operating expense down $1 million

Core income is defined as operating income less purchase accounting adjustments (PAA). PAA items include loan accretion from Whitney and Peoples First, offset by amortization of the

Whitney bond portfolio premium, amortization of the Peoples First indemnification asset and amortization of intangibles. Operating income is defined as net income excluding tax-effected

securities transactions gains or losses and nonoperating expense

items. See table on slide 28.

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

Core Revenue (TE)

$200

$203

$202

$201

$200

$205

$207

PAA impact (pre-tax)

$30

$25

$28

$20

$17

$12

Operating Expense

$160

$162

$161

$157

$147

$145

$144

$140

$150

$160

$170

$180

$190

$200

$180

$185

$190

$195

$200

$205

$210

Core Revenue (TE)

Operating Expense

PAA impact (pre-tax)

Loans Have Grown Steadily Since 1Q13

•

Total EOP loans of $13.9 billion were up $547 million,

or 16% LQA

•

All markets across the franchise reported net loan

growth during the quarter, with south Louisiana,

Houston and central Florida generating two-thirds of the

growth

•

Energy loans totaled $1.7 billion or 12% of total loans

at December 31, 2014; minimal energy portfolio growth

in the second half of 2014

$s in millions

Commercial

& RE loans

$316

66%

Mortgage

$72

15%

Consumer

$88

19%

Average 4th qtr

net loan growth by category

+$476 million

C&I

$6,044

43%

C&D

$1,107

CRE

$3,144

23%

Mortgage

$1,894

14%

Consumer

$1,706

12%

Total Loans

$13,895 million

12/31/14

Energy Concentration Risk Is

Well-Managed

•

Energy lending has been a core competency for more than 60 years

•

Disciplined underwriting, long term relationships

•

Reviewed all energy clients with $1 million or greater in exposure

and stress tested the entire energy portfolio

•

Should pricing pressures on oil continue, we could see some

downward pressure on risk ratings that could lead to additional

provision expense in future quarters

•

Impact and severity will depend on overall oil price reduction and

duration of the cycle

•

Management believes that even if downgrades occur, they will not

result in significant losses

As of December 31, 2014

Oil & Gas Portfolio Strong;

Monitoring For Signs of Stress

•

Relationship business dating back to post WWII

•

Excellent source of no/low cost core deposits

•

Low prices can limit loan growth for new bank customers

•

High credit quality portfolio

•

After coming off 4 good years in the industry, our clients

typically have low/moderate leverage and strong balance sheets

•

With experienced management in place, many of our clients

have been reacting to the reduction in oil prices by proactively

managing expenses, lowering discretionary spending or

reducing capital expenditures

As of December 31, 2014

$s in millions

Diversified portfolio with concentration limits for

individual categories

High credit quality portfolio with historically low loss rates; disciplined underwriting

Low level of cumulative losses over previous down cycles

E&P (RBL)

$648

38%

Product

Transportation

$102

Support

$964

56%

Oil & Gas Portfolio 12/31/14

(outstandings=$1.7B)

E&P (RBL) Portfolio Diversified,

Profitable

•

Priority, secured loans

•

59% private companies, 41% public companies

•

Approximately 60% oil, 40% gas

•

Lend

only

proved

reserves

(on

risked

basis);

90%+

are

covered

Proved

Developed

Producing

Reserves alone

•

75% of our E&P customers have hedges in place;

average tenor 2 years

•

Our clients breakeven at different prices/barrel oil

–

Breakeven varies depending on the basin

–

Our customers are diversified across 12 primary basins in the U.S. and in the Gulf of Mexico

–

Average

cash

flow

breakeven

price

per

barrel

oil

extracted,

for

our

clients,

based

current

proved,

producing reserves

is approximately $25 per barrel (ie. lifting costs, taxes)

–

Lower cost basins will remain active; higher cost basins will slow in activity

•

Underwriting price decks lowered in line with the NYMEX strip price; based on a longer-term

forecast

•

Borrowing base redeterminations twice per year

•

Current line utilization is approximately 58%

As of December 31, 2014

E. Tx/Barnett

Rockies

16%

Black Warrior

Eagle Ford

Raton

Mid-continent

22%

LA onshore

California

Permian Basin

15%

Appalachia

Gulf of Mexico -

shelf

20%

Gulf of Mexico -

deep water

% of E&P portfolio

Support Sector Companies Have

Weathered Previous Cycles

•

Many of our clients have operated through previous cycles,

including the mid 80s, late 90’s and 2008

•

Our clients typically have low/moderate leverage,

strong balance sheets and experienced management

•

Support drilling:

–

Contract drillers (33%), Rental tools (30%),

Completion services (24%), Other (13%)

•

Support nondrilling:

–

Helicopter and marine transportation (52%)

–

Fabrication, Construction, Installation (21%)

–

Other (i.e. Engineering, Inspection, Diving,

Management) (19%)

–

Supply/Manufacturing (8%)

–

Most of the support nondrilling companies are

based in south Louisiana and Houston, and many are supporting offshore activity

•

Day rates and service sector profitability will be impacted, but

we believe current

margins and liquidity will cushion the impact for our customers

•

Current line utilization is approximately 57%

As of December 31, 2014

Current clients

Average

years in

business

Average

years with

the bank

Support drilling

Support nondrilling

$s in millions

Support -

drilling

$310

32%

Support -

nondrilling

(transportation)

$342

36%

Support -

nondrilling (other)

$311

32%

Support Sector 12/31/14

(outstandings=$1.0B)

Allowance For Loan Losses

•

The allowance for loan losses was $128.8 million (0.93%) compared to $125.6 million

(0.94%) linked-quarter

–

The allowance maintained on the non-FDIC acquired portion of the loan portfolio

increased $7.2 million linked-quarter, totaling $98.2 million and the impaired reserve on

the FDIC acquired loan portfolio declined $4.0 million linked-quarter

–

Impact of the current energy cycle on the allowance:

–

Year-end allowance calculation reflects our review of all $1 million+

energy

credits and stress testing of the entire energy portfolio

–

We are disciplined in our underwriting, and while we could see some pressure in risk

ratings, based on what we know today we expect no significant loss in our energy

portfolio

–

We believe our current reserves are sufficient to cover any losses in the portfolio

–

Should pricing pressures on oil continue, we could see some downward pressure on

risk ratings that could lead to additional provision expense in future quarters

–

Impact and severity will depend on overall oil price reduction and duration of the

cycle

As of December 31, 2014

Solid Asset Quality Metrics

•

NPA ratio 1.06%, down from 1.10% linked-quarter

–

Nonperforming assets totaled $148 million, up less than $1 million from September 30, 2014

–

Nonperforming loans declined $2.6 million linked-quarter

–

ORE and foreclosed assets increased $3.5 million linked-quarter, mainly related to former branch

property

–

ORE includes approximately $18 million of former branch property

•

Provision for loan losses (mostly for noncovered loans) was $9.7

million, up $0.3 million

from 3Q14

•

Noncovered net charge-offs totaled $2.6 million, or 0.08%, down from $6.4 million, or

0.19%, in 3Q14

As of December 31, 2014

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1.98%

1.84%

1.83%

1.50%

1.43%

1.22%

1.10%

1.06%

Nonperforming

Asset

(NPA)

Ratio

Securities Portfolio No Longer

Funding Loan Growth

•

Portfolio totaled $3.8 billion, down $87 million

linked-quarter

•

Yield 2.36% -

unchanged linked-quarter

•

Unrealized gain (net) of $28.4 million on AFS

•

57% HTM, 43% AFS

•

Duration 3.5 compared to 3.9 at September 30,

2014

•

Balance sheet is asset sensitive over a 2 year

period to rising interest rates under various

shock scenarios

•

IRR modeling is based on conservative

assumptions

–

Flat balance sheet

–

Loan portfolio 55% variable

–

Modeled lag in deposit rate increases

–

Conservative % DDA attrition for certain increases in

rates

$s in millions

Period-end balances. As of December 31, 2014

Net Interest Income Scenarios

Regulatory Rate Shocks

CMO

$1,174

31%

MBS

$2,117

56%

Munis

$195

U. S. Agencies

and other

$312

Securities Portfolio

Mix 12/31/14

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

+100 shock

+200 shock

+300 shock

+400 shock

Year 1

Year 2

Solid Levels Of Core Deposit Funding

•

Total deposits $16.6 billion, up $836 million, or 5%,

linked-quarter

$s in billions

$s in millions

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

Avg Qtrly Deposits

$15.3

$15.2

$15.0

$14.9

$15.3

$15.1

$15.4

$15.9

LQA EOP growth

-13%

-3%

-2%

-1%

13%

21%

$13.5

$14.0

$14.5

$15.0

$15.5

$16.0

Noninterest

bearing

$5,945

36%

bearing

transaction &

savings

$6,532

39%

bearing public

funds

$1,983

12%

Time deposits

$2,113

13%

Total Deposits

$16,573 million

12/31/14

Noninterest

bearing

$142

27%

bearing

transaction &

savings

$219

42%

bearing public

funds

$51

10%

Time deposits

$109

21%

•

Funding mix remained strong

•

DDA comprised 36% of total period-end deposits

•

Cost of funds increased 2 basis points to 23 bps

Noninterest-bearing demand deposits (DDA) increased $79 million

$206 million increase in interest-bearing transaction and savings deposits

$103 million increase in time deposits (CDs)

$448 million increase in seasonal interest-bearing public fund deposits

–

Interest-

category +$521 million

Average 4 qtr net deposit growth by

Core NIM Expected To Stabilize

•

Reported net interest margin (NIM) 3.63%, down 18 bps linked-quarter; $6 million decline

in purchase accounting loan accretion

•

Core NIM declined 5 bps

–

Decline in core loan yield (-3bps) and increase in the cost of funds (+2bps) impacted NIM

–

Stabilization of core NIM began in late 3Q14

–

Better earning asset mix and increased loan volume drivers of increases in core net interest income

As of December 31, 2014

5.10%

5.00%

4.86%

4.63%

4.41%

4.09%

4.02%

3.97%

3.94%

3.91%

2.43%

2.47%

2.43%

2.36%

0.23%

0.22%

0.21%

0.23%

4Q13

1Q14

2Q14

3Q14

4Q14

Loan Yield

reported

Loan Yield

core*

Securities Yield

reported

Cost

Funds

reported

4.09%

4.06%

3.99%

3.81%

3.63%

3.40%

3.37%

3.35%

3.32%

3.27%

$136

$138

$140

$142

$144

$146

$148

$150

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

4Q13

1Q14

2Q14

3Q14

4Q14

Core NII

NIM -

reported

NIM -

core

Core NIM = reported net interest income (TE) excluding total net purchase

accounting adjustments, annualized, as a percent of average earning assets.

(See slide 27)

Manageable Declines in Purchase Accounting

Impact Expected in Future Quarters

Impact of Purchase Accounting Adjustments

(projections

will be updated quarterly; subject to change)

$s in millions

*Projected revenue includes loan accretion from Whitney and Peoples First,

offset

amortization

the

Whitney

bond

portfolio

premium

and

amortization

of the Peoples First indemnification asset.

N/M

As of December 31, 2014

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

4Q16

PAA Revenue

act*

PAA Revenue

proj*

Intangible Amort

Pre-tax impact

-1

-2

$10

$15

$20

$25

$30

$35

$40

2012

2013

2014

2015

2016

Post

2016

Revenue impact*

$124

$132

$80

$39

$14

$16

Pre-tax impact PAA

$93

$103

$54

$15

$25

$50

$75

$100

$125

$150

Core Noninterest Income Down Linked-Quarter;

Investing In Future Growth Initiatives

•

Noninterest income, including securities transactions, totaled

$57 million, down $1.0 million linked-quarter

–

Amortization of the indemnification asset for FDIC covered loans

totaled

$2.1 million, compared to $2.8 million in the third quarter; the

amortization is a reduction to noninterest income and is a result of a

lower level of expected future losses on covered loans (non-core)

•

Noninterest income, adjusted for the item noted above, decreased

approximately $1.6 million linked-quarter

•

Service charges on deposits totaled $19 million, down $1 million,

or 5%, from the third quarter

•

Investment & annuity income and insurance fees totaled $6.6 million, down

$0.9 million, or 12%, linked-quarter reflecting seasonality in this line of

business

•

Trust fees totaled $11.6 million, virtually unchanged from the third quarter with

an increase in core business during the quarter offset by recent

market volatility

•

Fees from secondary mortgage operations totaled $2.0 million, down $0.3

million, or 14%, linked-quarter

•

Other noninterest income (excluding IA amortization) totaled $8.7 million, up

$0.9 million, or 12%, linked-quarter

$s in millions

As of December 31, 2014

Service

Charges on

Deposit

$19.0

33%

Trust

$11.6

20%

Investment &

annuity

$4.7

Insurance

$1.9

Bankcard and

ATM

$11.2

20%

Secondary

mortgage

operations

$2.0

Other

(including IA

amort)

$6.6

12%

Fee Mix 4Q14

Continuing To Manage To A Lower

Level Of Operating Expense

•

Operating expense totaled $144 million in 4Q14, down $1.1 million linked-quarter

•

4Q14 operating expense excludes $9.7 million of nonoperating expenses, mainly incurred in

connection with the Company’s ongoing expense and efficiency initiative, although a portion of

these costs were amounts paid to recently separated executives

•

Personnel expense totaled $79.5 million, a decrease of $0.5 million, or less than 1%, linked-quarter

•

Occupancy and equipment totaled $14.6 million, down $0.7 million, or 5%, linked-quarter

•

ORE expense totaled $1.0 million for 4Q14, reflecting a more normalized level of quarterly expense

–

The prior 2 quarters included gains from ORE dispositions which offset quarterly expenses

•

Other operating expense declined $0.8 million, or 2%, linked-quarter

As of December 31, 2014; excluding nonoperating expense items

$s in millions

Personnel

$79.5

55%

Occupancy

$10.6

Equipment

$4.0

ORE

$1.0

Other

$42.6

30%

Amortization

of intangibles

$6.4

Operating Expense Mix 4Q14

Targeted Efficiency Ratio:

Below 60% By 4Q16

•

Continuing to manage expenses in the near-term, however expenses

may rise over the next couple of quarters as investments in higher-

return, revenue-generating initiatives are made

•

Remain committed to keeping expenses in line with expectations;

expect normal annual increases

55%

60%

65%

70%

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

Efficiency Ratio*

Efficiency Ratio

ER Target

*The efficiency ratio is noninterest expense to total revenue (TE) excluding amortization of purchased intangibles, nonoperating expense items, and securities transactions.

Recent Revenue Initiatives

•

Realigned banking organization under a single executive and implemented geographic leadership to

improve focus on revenue

•

Making progress in our Business, Commercial & Private Banking Segments with over 50% loan growth

in 2014

–

We believe these segments offer better granularity in the portfolio and will help us improve our

loan yield

–

In addition, these segments present great opportunities to continue to build strong core deposits

•

Continuing to introduce new initiatives designed to add loan volume, improve pricing and enhance

loan/earning asset mix

–

Entering Equipment Finance Business -

a perfect complement to our large C&I client base

–

Hired seasoned Equipment Finance Industry executive to build a scalable Equipment Finance

Company

–

Placing a huge emphasis on improving our loan yield through improving our mix of loans, as well

as making investments in new pricing tools and better discipline

•

Investing in products to improve our position in processing payments for clients in Small Business and

Commercial Banking

–

We expect to make a similar investment in Merchant Services in 2015

–

Our core Treasury Management business continues to grow nicely as we build market share across

the commercial segments

Solid Capital Levels

•

TCE ratio 8.59%, down 51 bps linked-quarter related to organic balance sheet growth, common stock

buyback and a decrease in OCI primarily related to a change in pension liability

•

New

common

stock

buyback

authorized

the

Board

Directors

July

2014

—

Approximately 4 million shares

—

Repurchased 1,224,279 shares @ an average price of $30.75 (approximately $38 million) in 4Q14

—

YTD

repurchases total 1,529,542 shares @ an average price of $31.13

(approximately $48 million), or 37% of total authorization

—

Authorization effective through 12/31/15

•

Will continue to review additional options to deploy excess capital in the best interest of the

Company and its shareholders

–

Organic growth

–

Stock buyback

–

M&A

–

Dividends

*Stock Buyback

(ASR) initiated

As of December 31, 2014

7.00%

8.00%

9.00%

10.00%

11.00%

12.00%

13.00%

1Q13

2Q13*

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14e

Capital Ratios

TCE

Tier 1 Risk-Based Capital

Near-Term Outlook

4Q14

Items to note

Outlook

Loans

+16% LQA

+13% Y-o-Y

8-12% EOP growth for full year 2015

(Limited growth in energy)

Purchase

Accounting

Adjustments (PAAs)

$7.4 million

pre-tax

(see slide 28)

Includes items

impacting revenue

and expense

Continuing declines in quarterly PAA revenue and

expense (see slide 19)

Net Interest Margin

(NIM)

3.63% reported

3.27% core

Reported down

18bps; Core down

5bps

Downward pressure on reported margin; stabilization

of core NIM; increasing core net interest income

Core Revenue

$206.7 million

Excludes PAAs

noted above

Recent growth reflects initiatives started in the prior

several quarters; expect growth to accelerate in 2H15

as initiatives continue to mature

Loan Loss Provision

$9.7 million

Includes $7 million

of reserve build

Should pricing pressures on oil continue, we could

see some risk rating downgrades and increased

provisions; not expecting significant charge-offs

Noninterest Expense

$144.1 million

operating

$9.7 million of

nonoperating costs

Slightly higher in the near term due to seasonality and

as investments are made in revenue-generating

initiatives

E.P.S. –

operating

E.P.S. –

core

$.56

$.50

See calculation on

slides 26 and 28

Operating E.P.S. flat due to declining purchase

accounting revenue; expect growth in 2H15

Continued growth in core E.P.S.

As of December 31, 2014

Appendix:

EPS calculation

$s in thousands, except E.P.S.

Three

Months

Ended

12/31/14

Three

Months

Ended

9/30/14

Three

Months

Ended

12/31/13

Operating income to common shareholders

$46,376

$49,079

$45,773

Income allocated to participating securities

(981)

(931)

(932)

Operating income allocated to common shareholders

$45,395

$48,148

$44,841

Weighted

average

common

–

diluted

81,530

81,942

82,220

E.P.S. -

diluted

$.56

$.59

$.55

See Note 7 in the most recent 10Q for more details on the two-class method for E.P.S. calculation.

Appendix: Purchase Accounting Adjustments

Core NII & NIM Reconciliation

($s in millions)

4Q14

3Q14

2Q14

1Q14

4Q13

Net

Interest

Income

(TE)

–

reported

(NII)

$163.6

$166.2

$167.3

$168.2

$168.5

Whitney expected loan accretion (performing)

2.7

5.0

5.8

6.7

9.3

Whitney expected loan accretion (credit impaired)

13.8

17.0

19.8

20.8

18.2

Peoples First expected loan accretion

2.5

2.1

2.8

Excess cash recoveries*

---

Total Loan Accretion

$17.2

$22.8

$28.1

$29.7

$30.3

Whitney premium bond amortization

(1.2)

(1.3)

(1.4)

(1.5)

(1.8)

Whitney and Peoples First CD accretion

---

Total Net Purchase Accounting

Adjustments (PAAs) impacting NII

$16.0

$21.5

$26.7

$28.3

$28.5

Net

Interest

Income

(TE)

–

core

(Reported NII less net PAAs)

$147.6

$144.7

$140.6

$139.9

$140.0

Average Earning Assets

$17,911

$17,324

$16,792

$16,740

$16,377

Net

Interest

Margin

–

reported

3.63%

3.81%

3.99%

4.06%

4.09%

Net Purchase Accounting Adjustments (%)

.36%

.49%

.64%

.69%

Net

Interest

Margin

core

3.27%

3.32%

3.35%

3.37%

3.40%

* Excess cash recoveries include cash collected on certain zero carrying value acquired loan pools above expected amounts.

Appendix: Non-GAAP Reconciliation

(Net Income, ROA, E.P.S.)

$s in millions

Three

Months

Ended

12/31/14

Three

Months

Ended

9/30/14

Three

Months

Ended

12/31/13

Twelve

Months

Ended

12/31/14

Twelve

Months

Ended

12/31/13

Net income

$40.1

$46.6

$34.7

$175.7

$163.4

Adjustments from net to operating income

Securities transactions gains/(losses)

0.1

Total nonoperating expense items (pre-tax)

9.7

3.9

17.1

25.7

38.0

Taxes on adjustments at marginal tax rate

3.4

1.4

6.0

7.2

13.3

Total adjustments (net of taxes)

6.3

2.5

11.1

18.4

24.6

Operating income

$46.4

$49.1

$45.8

$194.1

$188.0

Adjustments from operating to core income

PAA –

Net Interest Margin (see slide 27)

16.0

21.5

28.5

92.5

133.9

Intangible Amortization (noninterest expense)

-6.4

-6.6

-7.0

-26.6

-28.8

Amortization of Indemnification Asset (noninterest income)

-2.1

-2.8

-1.6

-12.1

-2.2

Total Purchase Accounting Adjustments (PAA) (pre-tax)

$7.4

$12.1

$19.9

$53.8

$102.9

Taxes on adjustments at marginal tax rate

2.6

4.2

7.0

18.8

36.0

Total PA adjustments (net of taxes)

4.8

7.9

12.9

35.0

66.9

Core Income (Operating less purchase accounting items)

$41.5

$41.2

$32.9

$159.2

$121.1

Average Assets

$20,090

$19,550

$18,739

$19,437

$18,929

ROA (operating)

0.92%

1.00%

0.97%

1.00%

0.99%

ROA (core)

0.82%

0.84%

0.70%

0.82%

0.64%

Weighted Average Diluted Shares (thousands)

81,530

81,942

82,220

82,034

83,167

E.P.S. (operating)

$.56

$.59

$.55

$2.32

$2.22

E.P.S. (core)

$.50

$.49

$.39

$1.90

$1.43

Appendix:

Whitney Portfolio Continues Solid Performance

•

Loan mark on the acquired-performing portfolio accreted into earnings over the life of the

portfolio

•

Credit-impaired loan mark available for charge-offs; if not needed for charge-offs then

accreted into income

•

Quarterly reviews of accretion levels and portfolio performance will impact reported margin

$s in millions

Credit-

Impaired

Performing

Total

Whitney loan mark at acquisition

(as adjusted in 4Q11)

$284

$187

$471

Acquired portfolio loan balances at acquisition

$818

$6,101

$6,919

Discount at acquisition

34.7%

3.1%

6.8%

Remaining Whitney loan mark at 12/31/14

$65

$70

Remaining acquired portfolio loan balances at 12/31/14

$123

$777

$900

Acquired loan charge-offs from acquisition thru 12/31/14

$23

$14

$37

Discount at 12/31/14

52.8%

0.6%

7.8%

As of December 31, 2014

Appendix:

Peoples First Loan Mark Used For Charge-Offs

•

FDIC acquired loan portfolio

•

Entire loan mark available for charge-offs; if not needed for charge-offs then accreted into income

•

Quarterly reviews of accretion levels and portfolio performance will impact reported margin

•

FDIC loss share receivable totaled $60.3 million at December 31, 2014

•

Non-single family FDIC loss share agreement expired at December 31, 2014

•

$197

million

remains

covered

under

FDIC

single

family

loss

agreement

$s in millions

Credit Impaired

Peoples First loan mark at acquisition (12/2009)

$509

Charge-offs from acquisition thru 12/31/14

$430

Accretion since acquisition date

$90

Remaining loan mark at 12/31/14

$33

Impairment reserve at 12/31/14

$31

Remaining portfolio loan balances at 12/31/14

$284

Discount & allowance at 12/31/14

23%

As of December 31, 2014

Fourth Quarter 2014

Financial Results

January 22, 2015

Fourth Quarter 2014

Financial Results

January 22, 2015

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HANCOCK WHITNEY CORP Reports