Condensed Parent Company Information

12 Months Ended

Dec. 31, 2023

Note 21. Condensed Parent Company Information

The following condensed financial statements reflect the accounts and transactions of Hancock Whitney Corporation only:

Condensed Balance Sheets


	December 31,
($ in thousands)	2023		2022
Assets:
Cash	$	218,714	$	127,184
Investment in bank subsidiaries		3,712,718		3,342,743
Investment in non-bank subsidiaries		29,446		25,634
Due from subsidiaries and other assets		11,628		14,939
Total assets	$	3,972,506	$	3,510,500
Liabilities and Stockholders' Equity:
Long term debt	$	166,968	$	166,816
Other liabilities		1,877		1,056
Stockholders' equity		3,803,661		3,342,628
Total liabilities and stockholders' equity	$	3,972,506	$	3,510,500

Condensed Statements of Income


	Years Ended December 31,
($ in thousands)	2023			2022			2021
Operating income
From subsidiaries:
Cash dividends received from bank subsidiaries	$	185,000		$	180,000		$	150,000
Cash dividend from nonbank subsidiary		—			2,500			5,000
Equity in earnings of subsidiaries greater than dividends received		222,731			355,853			327,950
Total operating income		407,731			538,353			482,950
Other expense, net		19,587			17,708			25,814
Income tax benefit		(4,458	)		(3,444	)		(6,079	)
Net income	$	392,602		$	524,089		$	463,215
Other comprehensive income (loss), net of tax		151,055			(718,247	)		(134,004	)
Comprehensive income (loss)	$	543,657		$	(194,158	)	$	329,211

Condensed Statements of Cash Flows


	Years Ended December 31,
($ in thousands)	2023			2022			2021
Cash flows from operating activities - principally dividends received from subsidiaries	$	198,093		$	192,816		$		160,887
Net cash provided by operating activities		198,093			192,816				160,887
Cash flows from investing activities:
Proceeds from sale of premises and equipment		—			855			—
Net cash provided by investing activities		—			855				—
Cash flows from financing activities:
Repayment of long term debt		—			—				(150,000	)
Dividends paid to stockholders		(104,697	)		(94,458	)			(95,927	)
Repurchase of common stock		—			(58,892	)			(21,796	)
Proceeds from dividend reinvestment and other incentive plans		3,815			3,972				4,482
Payroll tax remitted on net share settlement of equity awards		(5,681	)		(7,386	)			(7,364	)
Net cash used in financing activities		(106,563	)		(156,764	)			(270,605	)
Net increase (decrease) in cash		91,530			36,907				(109,718	)
Cash, beginning of year		127,184			90,277				199,995
Cash, end of year	$	218,714		$	127,184		$		90,277