Hancock Whitney Corp: A Legacy of Southern Banking
With a history spanning over a century, Hancock Whitney Corp stands as a pillar of financial stability in the American South. Headquartered in Gulfport, Mississippi, this public bank holding company—traded on the Nasdaq as HWC and a component of the S&P 400—operates a vast network of 237 branches across Mississippi, Alabama, Florida, Louisiana, and Texas.
Beyond traditional retail banking, the company has cemented its presence in regional culture through high-profile partnerships. It serves as the official bank for the New Orleans Saints, as well as LSU Athletics and the Louisiana Ragin' Cajuns, providing exclusive credit and debit card services for these athletic brands.
Key Facts
- Founded: 1899 in Bay Saint Louis, Mississippi.
- Headquarters: Gulfport, Mississippi.
- Market Presence: 237 branches across five Southern states.
- Financials (2019): Reported revenue of $1.442 billion and net income of $0.322 billion.
- Total Assets (2019): $30.601 billion.
- Leadership: Led by President & CEO John M. Hairston and CFO Michael M. Achary.
The Evolution of a Financial Powerhouse
Founding and Early Resilience
The institution began as Hancock County Bank in 1899, established by 19 individuals in Bay Saint Louis, Mississippi. Starting with $10,000 in capital and $8,277.41 in deposits, the bank was designed to support the region's thriving lumber, cotton, wool, poultry, and produce trades.
The bank's resilience was tested during the Wall Street crash of 1929. While 162 Mississippi banks failed, leaving Gulfport without a banking institution, Hancock County Bank stepped in to fill the void. After opening a downtown Gulfport branch at the request of local businessmen, the company moved to One Hancock Plaza in 1933, changed its domicile to Gulfport, and rebranded as Hancock Bank.
Strategic Expansion and Acquisitions
Throughout the late 20th and early 21st centuries, the bank pursued an aggressive growth strategy through acquisitions to expand its footprint in the Gulf South:
- 1990s: Acquired American Bank of Baton Rouge (1990), Washington Bank and Trust Co. of Franklinton (1994), and American Security Bank in Ville Platte (1999), bringing assets to $3 billion.
- 2000s: Expanded into south-central Mississippi via Lamar Bank (2001) and into Florida through Guaranty National Bank (2004).
- Insurance Growth: Diversified services by acquiring Ross King Walker, Inc. (2004) and J. Everett Eaves, Inc. (2005).
Modern Era and the Whitney Merger
The bank continued to grow by absorbing failed institutions, such as Peoples First Bank of Panama City (2009) and First NBC Bank (2017). A pivotal moment occurred in 2011 with the acquisition of Whitney Holding Corporation, the owner of the New Orleans-based Whitney Bank, which had been established in 1883.
In May 2018, the company officially changed its name to Hancock Whitney Corp. This era of growth was further bolstered by the acquisition of Capital One's Trust and Asset Management business in 2018 and the purchase of MidSouth Bank in 2019.
Corporate Overview
| Category | Detail |
|---|---|
| Ticker Symbol | Nasdaq: HWC |
| Industry | Banking |
| Total Assets (2019) | $30.601 Billion |
| Employee Count (2017) | 3,887 |
| Operating Regions | MS, AL, FL, LA, TX |
Frequently Asked Questions
When was Hancock Whitney founded?
The bank was originally founded as Hancock County Bank in 1899 in Bay Saint Louis, Mississippi.
Which sports teams is Hancock Whitney affiliated with?
The bank is the official bank of the New Orleans Saints, LSU Athletics, and the Louisiana Ragin' Cajuns.
Where is the company headquartered?
Hancock Whitney Corp is headquartered in Gulfport, Mississippi.
How did the bank expand its presence in Louisiana?
The bank expanded through several acquisitions, including the American Bank of Baton Rouge, Washington Bank and Trust Co., American Security Bank, and the significant merger with Whitney Holding Corporation in 2011.
What is the company's stock ticker?
The company is publicly traded on the Nasdaq under the ticker symbol HWC.