NO.whitney.011018.0015

The Hancock Whitney Bank headquarters in New Orleans.

Hancock Whitney Corp. on Tuesday reported second-quarter earnings of $88.3 million, or $1.01 per diluted share.

That’s up from the $71.2 million, or 82 cents a share the bank earned a year ago.

Gulfport, Mississippi-based Hancock Whitney, which has a significant presence in New Orleans, saw its loan portfolio increase by $63 million to $20.2 billion during the quarter. At the same time, the amount of energy loans the bank held dropped by $55 million to $1 billion, and now represent less than 5% of Hancock Whitney’s total loans. The energy industry has been hurt by sustained low oil prices.

The bank announced during the quarter it plans to acquire MidSouth Bancorp Inc. in a $214 million deal set to close in the third quarter.

According to Zacks Investment Research, analysts forecast second-quarter earnings of $1.01 for Hancock Whitney, in line with Tuesday’s results.

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Email Timothy Boone at tboone@theadvocate.com.