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• The regional Bank of America for the Gulf Coast.
• Truist Financial for the Gulf South.

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• Deposit Accounts: Hancock Whitney offers various deposit accounts including checking, savings, money market, and certificates of deposit for individuals and businesses.
• Lending Services: The company provides a range of loan products such as commercial, real estate, residential mortgage, and consumer loans.
• Wealth Management: These services include trust and asset management, brokerage, and private banking to help clients manage and grow their assets.
• Treasury & Business Services: Businesses can utilize services like cash management and merchant services to optimize their financial operations.

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Hancock Whitney (HWC), as a regional financial services company, serves a broad and diversified customer base across various segments rather than relying on a few identifiable "major customers" in the traditional sense. Its business model involves providing a wide range of banking and financial services to a large number of clients, encompassing both individuals and businesses of varying sizes.

Due to the nature of its business and the diversification of its loan and deposit portfolios, Hancock Whitney's customer base is best described by the following categories:

• Retail & Consumer Customers: This category includes individuals and households who utilize personal banking services such as checking and savings accounts, residential mortgages, consumer loans (e.g., auto loans, personal loans), and personal wealth management services.
• Small to Mid-Sized Businesses: These are commercial clients, often local or regional enterprises, that require business banking solutions, commercial loans (including lines of credit, term loans, and commercial real estate financing), and treasury management services to manage their cash flow and operations.
• Large Commercial, Corporate, & Institutional Clients: This segment comprises larger corporations, governmental entities, non-profit organizations, and other institutional clients seeking more complex commercial lending, specialized financing, corporate treasury management, and investment banking services.

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John M. Hairston President & Chief Executive Officer

Mr. Hairston joined Hancock Whitney in 1994, specializing in financial services consulting with Andersen Consulting (now Accenture) earlier in his career. He has served as Chief Executive Officer of the Company and the Bank since 2008, and President of the Company since 2014. Prior to that, he held the role of Chief Operating Officer from 2008 to 2014. He was integral to the merger of Hancock Bank with Whitney Bank in 2011.

Michael M. Achary Senior Executive Vice President, Chief Financial Officer, and Principal Accounting Officer

Mr. Achary has served as Chief Financial Officer of Hancock Whitney since 2007, and as Senior Executive Vice President since 2017. His previous roles include Executive Vice President from 2008 to 2016. Earlier in his career, he was a Senior Vice President at New Orleans-based First Commerce Corporation and served as Chief Financial Officer for a New Orleans law firm.

D. Shane Loper Senior Executive Vice President and Chief Operating Officer, President of Hancock Whitney Bank

Mr. Loper has been the Chief Operating Officer of Hancock Whitney since 2014 and a Senior Executive Vice President since 2017. His prior positions include Chief Administrative Officer from 2013 to 2014 and Chief Risk Officer from 2012 to 2013.

Joy Lambert Phillips Senior Executive Vice President and Chief Legal Officer

Ms. Phillips, who is set to retire on September 6, 2024, provided legal counsel in the financial services industry for nearly 40 years. She joined Hancock Bank in April 1999 as General Counsel and Corporate Secretary and played an integral role in the 2011 merger of Hancock Bank and Whitney National Bank. In May 2022, she became Hancock Whitney's first Chief Legal Officer. She also served as president of the Mississippi Bar from 2005 to 2006, being the first woman and first in-house counsel to hold that position.

Joseph S. Exnicios President, Hancock Whitney Bank

Mr. Exnicios has served as Senior Executive Vice President since 2017 and was an Executive Vice President from 2011 to 2016. He has been the President of Whitney Bank since 2011.

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1. Economic and Market Conditions, including Interest Rate Fluctuations: Hancock Whitney is highly susceptible to broad economic uncertainties, such as inflation, potential recessions, and regional economic stress, particularly within the Gulf South region where it primarily operates. These conditions can significantly impact customer behavior, loan demand, the performance of the company's loan portfolio, and investment performance. Fluctuations in interest rates, both rising and falling, pose a substantial risk to Hancock Whitney's net interest income, loan origination, and the valuation of its assets and liabilities. The company has experienced declines in interest income and has set aside provisions for credit losses due to economic uncertainties.
2. Regulatory Changes: As a financial holding company, Hancock Whitney operates within a heavily regulated banking sector. Changes in laws, increased regulatory scrutiny, and evolving policies (including U.S. trade policies, tax laws, and those related to environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) concerns) can lead to additional compliance costs, restrict operational flexibility, necessitate changes in business practices, and potentially harm its reputation. The company must continually navigate this complex regulatory landscape to avoid penalties and maintain its standing.
3. Credit Risk: Hancock Whitney faces risks related to the credit quality and performance of its loan portfolio. Economic disruptions can adversely affect borrowers, leading to increased non-performing loans and higher provisions for credit losses. While credit metrics may normalize, there are specific concerns in sectors such as construction and development (C&D) loans, which have shown increases in non-performing loans year-over-year.

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The accelerated market share capture by digital-native financial service providers, including well-funded fintech companies and major technology firms, in core banking functions such as deposits, lending, and payments.

Evidence:

• Fintechs: Neobanks (e.g., Chime, Varo) are rapidly acquiring customers by offering low-fee, high-yield digital accounts, superior mobile experiences, and personalized financial tools, directly competing for Hancock Whitney's traditional deposit base. Specialized fintech lenders are leveraging advanced data analytics and AI to streamline loan applications and provide faster approvals, capturing segments of consumer and small business lending markets.
• Big Tech: Companies like Apple, Google, and Amazon are increasingly integrating financial services into their ecosystems. Apple's recent entry into high-yield savings accounts (partnered with Goldman Sachs) demonstrated its ability to quickly attract billions in deposits by leveraging its vast user base and seamless digital integration. These firms also offer payment solutions (e.g., Apple Pay, Google Pay) and credit products (e.g., Apple Card, Amazon Lending), eroding traditional banking's share in these crucial areas.

This trend represents an emerging threat because it leverages technological advantages, lower overheads (due to a lack of physical branches), and evolving consumer preferences for digital-first, seamless financial experiences, potentially eroding Hancock Whitney's customer base and profitability across its traditional banking services.

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Hancock Whitney Corporation (symbol: HWC) provides a comprehensive suite of financial products and services, primarily operating across the U.S. Gulf South states of Mississippi, Alabama, Florida, Louisiana, and Texas, with additional loan production offices in Nashville, Tennessee, and Atlanta, Georgia. Its main offerings include retail banking, commercial and small business banking, wealth management, and mortgage services.

The addressable markets for Hancock Whitney's main products and services in the U.S. are as follows:

• Retail Banking: The U.S. retail banking market was valued at approximately USD 1,105 billion in 2024 and is projected to reach USD 1,850 billion by 2032. Other estimates place the U.S. retail banking market at USD 0.87 trillion in 2025, with a projection to reach USD 1.08 trillion by 2030.
• Commercial Banking: The U.S. commercial banking market is estimated at USD 1.6 trillion in 2025. Another report values the U.S. commercial banking market at USD 732.5 billion in 2025, with a forecast to grow to USD 915.45 billion by 2030.
• Wealth Management: In the U.S., Assets under Management (AUM) in the wealth management market are projected to reach $67.75 trillion by 2024 and expand to $91.16 trillion by 2028. The United States holds 54.2% of the global AUM, which reached $162 trillion in 2025.
• Mortgage Services: Residential mortgage debt in the U.S. totaled $11.92 trillion as of the fourth quarter of 2022. Americans collectively owe $12.94 trillion on mortgages. The market for purchase mortgages within the U.S. is valued at USD 1,145.4 billion.

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Hancock Whitney (HWC) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Strategic Acquisitions: The acquisition of Sabal Trust Company is a significant driver, projected to boost noninterest income, particularly within wealth management, and expand Hancock Whitney's footprint in high-growth markets like Florida. This acquisition is expected to contribute to earnings per share and make Florida the bank's largest contributor to private wealth management fee income.
2. Organic Expansion in High-Growth Markets and Revenue Producer Hires: Hancock Whitney is focusing on expanding its presence in strategic, high-growth markets such as Texas and Florida. The company has been actively hiring new bankers and plans to open additional financial centers in the Dallas metropolitan area in late 2025 or early 2026 to drive growth in these regions.
3. Loan and Deposit Growth: The company anticipates achieving loan growth, with expectations for low single-digit year-over-year growth for the full year 2025, accelerating to mid-single-digit growth in the second half of 2025. Efforts are also focused on fostering deposit growth, which is crucial for funding loan expansion.
4. Net Interest Margin (NIM) Expansion/Stability: Hancock Whitney has demonstrated continued expansion in its net interest margin and expects modest, consistent NIM expansion through the end of 2025. This expansion, even with potential Federal Reserve rate cuts, is anticipated to contribute to net interest income growth.
5. Growth in Non-Interest Income: The bank is focused on increasing fee income from diverse sources, including service charges on deposit accounts, trust fees, and bank card and ATM fees. The Sabal Trust acquisition is a key component of this strategy, bolstering trust and investment management services. Fee income has shown robust growth, with strong performance in insurance and annuity fees.

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Share Repurchases

• Hancock Whitney repurchased 662,500 shares of its common stock at an average price of $60.45 per share during the third quarter of 2025.
• The company also repurchased 750,000 shares at an average price of $52.36 per share in the second quarter of 2025 and 350,000 shares at an average price of $59.25 in the first quarter of 2025.
• A new stock buyback program was authorized in December 2024, allowing the company to purchase up to 5% of its outstanding common stock, replacing a previous program that authorized the repurchase of up to 4,306,000 shares and expires on December 31, 2026.

Outbound Investments

• Hancock Whitney completed the acquisition of Sabal Trust Company in an all-cash transaction on May 2, 2025.
• Sabal Trust Company generated $22.1 million in revenue in 2024 and managed approximately $3 billion in assets under management.
• This acquisition is expected to increase noninterest income by 9-10% year-over-year and contribute to earnings per share (EPS) by $0.02 in 2025, growing to $0.08-$0.10 by 2027.

Capital Expenditures

• Noninterest expenses, which encompass capital-related costs, are projected to increase by 4-5% year-over-year for 2025, partly due to the Sabal Trust integration and ongoing technology investments.
• Net occupancy and equipment expense totaled $18.4 million in the second quarter of 2025, representing a 4% increase from the first quarter of 2025.