updated 4/19/2011 4:16:56 PM ET 2011-04-19T20:16:56

GULFPORT, Miss., April 19, 2011 (GLOBE NEWSWIRE) -- Hancock Holding Company (Nasdaq:HBHC) today announced financial results for the quarter ended March 31, 2011. Net income was $15.3 million, with fully diluted earnings per share of $0.41. The first quarter's earnings were impacted by $1.6 million in merger related expenses associated with the proposed acquisition of Whitney Holding Corporation (as discussed below) and also by Hancock's recent common equity offering (also discussed below). Excluding the merger related expenses, net income was $16.4 million with fully diluted earnings per share of $0.43.

Excluding merger related items, net income of $16.4 million increased 10.8 percent from 2010's first quarter's net income of $14.8 million but declined 3.9 percent over the preceding fourth quarter's net income of $17.0 million. Fully diluted earnings per share excluding merger related items for the first quarter of 2011 were $0.43, compared to $0.40 for the same quarter a year ago and $0.46 in the 2010's fourth quarter. Hancock's return on average assets, excluding merger related items, was 0.81 percent for the first quarter of 2011, an improvement of 12 basis points over the prior year period return of average assets of 0.69 percent.

The company's pre-tax, pre-provision profit for the first quarter of 2011 increased 2.5 percent over the prior year's first quarter to $32.4 million. Pre-tax pre-provision profit is total revenue less non-interest expense and excludes one-time merger items and securities transactions.

On December 21, 2010, Hancock Holding Company entered into a definitive agreement with Whitney Holding Corporation ("Whitney"), parent company of New Orleans-based Whitney National Bank, for Whitney to merge into Hancock. The combined company will have approximately $20 billion in assets and operate more than 300 branches across the Gulf South. The transaction is expected to be completed in the second quarter of 2011, subject to customary closing conditions and shareholder and regulatory approval.

On March 25, 2011, the company completed a successful common stock offering of 6,201,500 shares of common stock at a price of $32.25 per share, which represented no discount from the last sale on the previous business day. Net proceeds were approximately $191 million. The proceeds of the offering are intended to be used for general corporate purposes, including the enhancement of Hancock's capital position and the repurchase of Whitney's TARP preferred stock and warrants upon closing of the proposed merger. The company's tangible common equity ratio stood at 11.94 percent at March 31, 2011.

Hancock's President and Chief Executive Officer Carl J. Chaney said, "We are very pleased to report improvement in our first quarter earnings as we continue to see an upturn in our asset quality measures. In addition, our stock offering this quarter generated overwhelming interest and was rated the number one equity offering in the U.S. over the past 12 months, in terms of no discount from the last sale on the previous business day. We believe the response reflected the company's 110-year history of financial strength and stability and excitement about the pending merger with Whitney which is on track to close in the second quarter of this year."

Chaney continued, "Our operating footprint will grow dramatically in Hancock's current Gulf Coast markets, and we will expand into dynamic new regions such as Houston and Tampa-St. Petersburg upon completion of the transaction. Based upon combined assets, Hancock will become the 32nd largest bank holding company headquartered in America."

The principal driver of Hancock's improved 2011 first quarter earnings from the prior year's first quarter was the continued improvement in the company's overall asset quality. The company recorded a significantly lower provision for loan losses, down $5.0 million, or 36.2 percent, compared to the prior year's first quarter.  Net charge-offs of $6.8 million decreased $6.4 million, or 48.6 percent, from the 2010 first quarter and decreased $2.9 million, or 30.1 percent, from the prior quarter. Net charge-offs were 0.57 percent of average loans, down 49 basis points from the first quarter of 2010 and down 21 basis points, compared with the preceding fourth quarter.  

"With our improved asset quality measures, the approaching merger with Whitney, and a favorable economic outlook for our market areas, we are very excited about what the next 12 months will bring. These events position us very favorably for future growth and prosperity," Chaney added.

Highlights & Key Operating Items from Hancock's First Quarter Results

Balance Sheet & Capital

Total assets at March 31, 2011, were $8.3 billion, up $172.7 million, or 2.1 percent, from $8.1 billion at December 31, 2010.  Compared to March 31, 2010, total assets decreased $254.4 million. Hancock continues to remain well capitalized, with total equity of $1.1 billion at March 31, 2011, up $206.9 million, or 24.3 percent, from March 31, 2010, and up $201.2 million, or 23.5 percent, from December 31, 2010, due to the common stock offering in March of this year. The company's tangible common equity ratio stood at 11.94 percent at March 31, 2011.    

Loans

For the quarter ended March 31, 2011, Hancock's average total loans were $4.9 billion, which represented a decrease of $200.8 million, or 4.0 percent, from the same quarter a year ago and were down $63.8 million, or 1.3 percent, from the fourth quarter of 2010.  Period-end loans decreased $130.6 million, or 2.6 percent, from the prior quarter in all loan categories and declined $185.5 million, or 3.7 percent, from March 31, 2010. The $185.5 million decrease was driven by a decline in mortgage loans ($88.2 million), indirect consumer loans ($53.2 million), commercial loans ($31.2 million), finance company loans ($12.1 million), and credit card loans ($11.0 million) offset by an increase in direct consumer loans of $14.1 million. The decrease in average and period-end loans is due primarily to a continued lessening of loan demand in the company's operating region.

Deposits

Average deposits were up $29.0 million from the fourth quarter of 2010 but were down 5.2 percent, or $369.7 million, from March 31, 2010. The reduction in average deposits from the first quarter of 2010 was in time deposits, which were down $582.5 million, or 19.9 percent, and interest bearing and public fund time deposits, which were down $47.5 million, or 3.7 percent, offset by an increase of $134.7 million, or 7.1 percent, in interest-bearing transaction deposits and $125.6 million, or 12.3 percent, in non-interest-bearing deposits. Period-end deposits for the first quarter were $6.7 billion, down $78.4 million, or 1.2 percent, from the prior quarter and were down $307.4 million, or 4.4 percent, from March 31, 2010.  The $307.4 million reduction in period-end deposits was caused by a $612.9 million, or 21.4 percent, decrease in time deposits offset by a 16.1 percent increase, or $164.5 million, in non-interest-bearing deposits and a 6.2 percent increase, or $120.1 million, in interest-bearing transaction deposits.  The $307.4 million reduction in deposits was primarily related to expected run-off in Peoples First time deposits.  Prior to the December 2009 acquisition of Peoples First, deposit pricing in that institution was very aggressive in order to attract deposits with resulting rates considerably higher than comparable banks.   

Asset Quality

Net charge-offs for 2011's first quarter were $6.8 million, or 0.57 percent of average loans, down from the $9.8 million, or 0.78 percent, of average loans reported for the fourth quarter of 2010.  Non-performing assets as a percent of total loans and foreclosed assets were 3.32 percent at March 31, 2011, up from 3.17 percent at December 31, 2010.  The total dollar value of non-performing assets was up $3.7 million, or 2.3 percent, between December 31, 2010, and March 31, 2011.  Approximately $19.8 million of loans, of which $10.3 million were on non-accrual status, were designated as troubled debt restructurings (TDR) at March 31, 2011.  Non-accrual loans decreased $11.6 million, while other real estate owned (ORE) increased $8.1 million compared to the prior quarter.  Loans 90 days past due or greater (accruing) as a percent of period-end loans decreased 2 basis points from December 31, 2010, to 0.01 percent at March 31, 2011.

The company's allowance for loan losses was $94.4 million at March 31, 2011, and $82.0 million at December 31, 2010.  The ratio of the allowance for loan losses as a percent of period-end loans was 1.95 percent at March 31, 2011, compared to 1.65 percent at December 31, 2010.  Hancock's reserving methodologies required the company to increase the allowance for loan losses in the first quarter.  Hancock recorded a provision for loan losses for the first quarter of $8.8 million. The provision of $8.3 million on non-covered loans was primarily related to specific credits partially offset by a reduction of $1.5 million in the specific reserve for the Gulf Oil Spill. Hancock is continuing to monitor the impact of the Gulf Oil Spill on the company's affected markets. The company also recorded $10.9 million for losses that have arisen on covered loans since the December 2009 acquisition of Peoples First, with a corresponding increase for 95 percent coverage in the company's FDIC loss share receivable, which resulted in a net provision increase of $0.5 million in the provision for covered loans.   

Additional asset quality information (inclusive and exclusive of the covered assets of Peoples First) is provided in the following table:

  Consolidated  Consolidated 
  Hancock  Without 
Asset Quality Information Holding Company Peoples First
Non-accrual loans $100,718 $56,654
Restructured loans $19,757 $19,757
Foreclosed assets 41,380 18,559
Total non-performing assets $161,855 $94,970
Non-performing assets as a percent of loans and foreclosed assets 3.32% 2.33%
Accruing loans 90 days past due (a) $691 $691
Accruing loans 90 days past due as a percent of loans 0.01% 0.02%
Non-performing assets + accruing loans 90 days past due    
 to loans and foreclosed assets 3.33% 2.34%
Allowance for loan losses $94,356 $83,160
Allowance for loan losses as a percent of period-end loans 1.95% 2.05%
Allowance for loan losses to NPAs + accruing loans 90 days past due 58.05% 86.93%
     
(a) Accruing loans past due 90 days or more do not include purchased impaired loans which were written down to fair value upon

acquisition and accrete interest income over the remaining life of the loan.

Net Interest Income

Net interest income (taxable equivalent or te) for the first quarter increased $0.04 million, or 0.1 percent, from March 31, 2010, and decreased $2.2 million, or 3.0 percent, from the prior quarter. The net interest margin of 3.97 percent was 22 basis points wider than the same quarter a year ago but was 9 basis points narrower than the prior quarter.  Average earning assets grew $31.2 million compared to prior quarter but declined $399.2 million, or 5.3 percent, compared with the same quarter a year ago.  The $399.2 million decrease was caused by a decrease in loans ($200.8 million), securities ($128.0 million), and short-term investments ($70.4 million).

The company's loan yield decreased 27 basis points over the prior year's first quarter, while the yield on securities decreased 52 basis points, pushing the yield on average earning assets down 28 basis points.  However, total funding costs over the same quarter a year ago were down 50 basis points. Compared to the prior quarter, the net interest margin (te) was narrower by 9 basis points. The yield on average earning assets decreased 10 basis points from last quarter to 4.87 percent, while the total cost of funds remained decreased one basis point.

Non-interest Income

Non-interest income for the first quarter was up $2.8 million, or 8.9 percent, compared with the same quarter a year ago and decreased $0.9 million, or 2.5 percent, compared with the previous quarter.  The increase from March 31, 2010, was primarily caused by an increase in other income of $3.4 million due to an increase in accretion on the FDIC loss share asset; investment and annuity fees, up $0.9 million; and ATM fees, up $0.8 million offset by decreases in service charges in deposit accounts of $1.9 million due to new consumer regulations and insurance fees of $0.3 million.  

The decrease from the prior quarter was caused primarily by a decrease in secondary mortgage market operations of $1.6 million due to a decrease in refinancing; service charges on deposit accounts, down $0.6 million; insurance fees, down $0.5 million offset by an increase in other income of $1.5 million and investment and annuity fees of $0.8 million.  

Operating Expense & Taxes

Operating expenses for the first quarter were up $5.2 million, or 7.7 percent, compared to the same quarter a year ago, and were $1.8 million, or 2.5 percent, higher than the previous quarter.  The increase from the same quarter a year ago was reflected in an 8.8 percent increase, or $3.1 million, in higher personnel expense and a 9.2 percent increase, or $2.2 million, in other operating expense due to professional services expenses associated with our proposed merger with Whitney.  The increase from the prior quarter was due to a 5.1 percent increase, or $1.8 million, in personnel due to payout of year-end bonuses. 

For the three months ended March 31, 2011, and 2010, the effective income tax rates were approximately 20 percent and 15 percent, respectively. Because of the increased level of pre-tax income in 2011, the tax-exempt interest income and the utilization of tax credits had less impact on the effective tax rate.  The source of the tax credits for 2011 and 2010 resulted from investments in New Market Tax Credits, Qualified Bond Credits and Work Opportunity Tax Credits.

About Hancock Holding Company

Hancock Holding Company – parent company of Hancock Bank (Mississippi), Hancock Bank of Louisiana, and Hancock Bank of Alabama – had assets of approximately $8.3 billion as of March 31, 2011. Founded in 1899, Hancock Bank consistently ranks as one of the country's strongest, safest financial institutions, according to BauerFinancial, Inc. More corporate information and e-banking are available at www.hancockbank.com .

The Hancock Holding Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2758
 

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995Congress passed the Private Securities Litigation Act of 1995 in an effort to encourage corporations to provide information about companies' anticipated future financial performance. This act provides a safe harbor for such disclosure, which protects the companies from unwarranted litigation if actual results are different from management expectations. This release contains forward-looking statements and reflects management's current views and estimates of future economic circumstances, industry conditions, company performance, and financial results. These forward-looking statements are subject to a number of factors and uncertainties which could cause the Company's actual results and experience to differ from the anticipated results and expectations expressed in such forward-looking statements.

ADDITIONAL INFORMATION ABOUT THE HANCOCK HOLDING COMPANY/WHITNEY HOLDING CORPORATION TRANSACTION

Hancock Holding Company ("Hancock") and Whitney Holding Corporation ("Whitney") have filed a joint proxy statement/prospectus and other relevant documents concerning the merger with the United States Securities and Exchange Commission (the "SEC"). This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. WE URGE INVESTORS TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors can obtain these documents free of charge at the SEC's Web site ( www.sec.gov ). In addition, documents filed with the SEC by Hancock will be available free of charge from Paul D. Guichet, Investor Relations at (228) 563-6559. Documents filed with the SEC by Whitney will be available free of charge from Whitney by contacting Trisha Voltz Carlson at (504) 299-5208.

The directors, executive officers, and certain other members of management and employees of Whitney are participants in the solicitation of proxies in favor of the merger from the shareholders of Whitney. Information about the directors and executive officers of Whitney is included in Whitney's Form 10-K for the year ended December 31, 2010, as amended by a Form 10-K/A, which was filed with the SEC on April 18, 2010. Additional information regarding the interests of such participants is included in the joint proxy statement/prospectus and the other relevant documents filed with the SEC on April 4, 2011. The directors, executive officers, and certain other members of management and employees of Hancock are participants in the solicitation of proxies in favor of the merger from the shareholders of Hancock. Information about the directors and executive officers of Hancock is included in the proxy statement for its 2011 annual meeting of shareholders, which was filed with the SEC on February 28, 2011. Additional information regarding the interests of such participants is included in the joint proxy statement/prospectus and the other relevant documents filed with the SEC on April 4, 2011.

  Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands, except per share data and FTE headcount)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Per Common Share Data      
       
Earnings per share:      
 Basic $0.41 $0.46 $0.37
 Diluted $0.41 $0.46 $0.37
Cash dividends per share  $0.24 $0.24 $0.24
Book value per share (period-end) $24.52 $23.22 $23.05
Tangible book value per share (period-end) $22.79 $21.18 $20.94
Weighted average number of shares:      
 Basic  37,333  36,916  36,868
 Diluted  37,521  37,065  37,105
Period-end number of shares  43,139  36,893  36,905
Market data:      
 High sales price $35.68 $37.26 $45.86
 Low sales price $30.67 $28.88 $38.23
 Period end closing price  $32.84 $34.86 $41.81
 Trading volume  25,942  13,701  9,612
       
Other Period-end Data      
       
FTE headcount 2,299 2,271 2,263
Tangible common equity $983,160 $781,420 $772,735
Tier I capital $981,439 $782,301 $764,074
Goodwill $61,631 $61,631 $62,277
Amortizable intangibles $12,908 $13,496 $15,791
       
Performance Ratios      
       
Return on average assets 0.75% 0.83% 0.65%
Return on average common equity 7.07% 7.71% 6.58%
Earning asset yield (TE) 4.87% 4.97% 5.15%
Total cost of funds 0.90% 0.91% 1.40%
Net interest margin (TE) 3.97% 4.06% 3.75%
Noninterest expense as a percent of total revenue (TE)      
 before amortization of purchased intangibles      
 and securities transactions 69.74% 66.05% 66.43%
Common equity (period-end) as a percent of total assets (period-end) 12.73% 10.52% 9.93%
Leverage (Tier I) ratio  12.02% 9.65% 8.91%
Tangible common equity ratio  11.94% 9.69% 9.10%
Net charge-offs as a percent of average loans 0.57% 0.78% 1.06%
Allowance for loan losses as a percent of period-end loans 1.95% 1.65% 1.33%
Allowance for loan losses to NPAs + accruing loans 90 days past due 58.05% 51.35% 48.80%
Average loan/deposit ratio 72.38% 73.65% 71.45%
Non-interest income excluding       
 securities transactions as a percent of       
 total revenue (TE) 32.93% 32.81% 31.08%
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Asset Quality Information      
       
Non-accrual loans $100,718 $112,274 $92,828
Restructured loans (a) 19,757 12,641  -- 
Foreclosed assets 41,380 33,277 30,243
Total non-performing assets $161,855 $158,192 $123,071
Non-performing assets as a percent of loans and foreclosed assets 3.32% 3.17% 2.44%
Accruing loans 90 days past due (b) $691 $1,492 $13,457
Accruing loans 90 days past due as a percent of loans 0.01% 0.03% 0.27%
Non-performing assets + accruing loans 90 days past due       
 to loans and foreclosed assets 3.33% 3.19% 2.71%
       
Net charge-offs $6,817 $9,756 $13,251
Net charge-offs as a percent of average loans 0.57% 0.78% 1.06%
       
Allowance for loan losses $94,356 $81,997 $66,625
Allowance for loan losses as a percent of period-end loans 1.95% 1.65% 1.33%
Allowance for loan losses to NPAs + accruing loans 90 days past due 58.05% 51.35% 48.80%
       
Provision for loan losses $8,822 $11,390 $13,826
       
(a) Included in restructured loans is $10.3 million in non-accrual loans.      
(b) Accruing loans past due 90 days or more do not include purchased impaired loans which were

written down to fair value upon acquisition and accrete interest income over the remaining life of

the loan.
     
       
Allowance for Loan Losses      
       
Beginning Balance $81,997 $79,725 $66,050
 Provision for loan losses before FDIC benefit  10,899 672  --
 Benefit attributable to FDIC loss share agreement (10,354) (638)  --
 Provision for loan losses - non-covered loans 8,277 11,356 13,826
Net provision for loan losses 8,822 11,390 13,826
Inrease in indemnification asset  10,354 638  --
Charge-offs 9,079 11,626 15,160
Recoveries 2,262 1,870 1,909
Net charge-offs 6,817 9,756 13,251
Ending Balance $94,356 $81,997 $66,625
       
       
Net Charge-off Information      
       
Net charge-offs:      
Commercial/real estate loans $4,159 $5,987 $10,238
Mortgage loans 371 1,024 608
Direct consumer loans 1,234 939 608
Indirect consumer loans 278 356 608
Finance Company loans 775 1,450 1,189
Total net charge-offs  $6,817 $9,756 $13,251
       
Average loans:      
Commercial/real estate loans $3,099,303 $3,087,181 $3,145,748
Mortgage loans 653,150 702,285 735,279
Direct consumer loans 736,133 745,922 737,728
Indirect consumer loans 301,638 315,369 359,965
Finance Company loans 97,525 100,776 109,819
Total average loans $4,887,749 $4,951,533 $5,088,539
       
Net charge-offs to average loans:      
Commercial/real estate loans 0.54% 0.77% 1.32%
Mortgage loans 0.23% 0.58% 0.34%
Direct consumer loans 0.71% 0.50% 0.33%
Indirect consumer loans 0.30% 0.45% 0.69%
Finance Company loans 3.22% 5.71% 4.39%
Total net charge-offs to average loans 0.57% 0.78% 1.06%
       
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Income Statement      
       
Interest income  $82,533 $85,040 $92,379
Interest income (TE) 85,405 87,917 95,396
Interest expense 15,769 16,100 25,800
Net interest income (TE) 69,636 71,817 69,596
Provision for loan losses 8,822 11,390 0
Noninterest income excluding       
 securities transactions  34,183 35,067 31,381
Securities transactions gains/(losses)  (51)  -- 0
Noninterest expense  73,019 71,257 67,822
Income before income taxes 19,055 21,359 30,138
Income tax expense 3,727 4,339 2,478
Net income $15,328 $17,020 $27,660
       
Pre-tax, pre-provision profit (PTPP) (c) $32,388 $35,627 $31,587
       
Noninterest Income and Noninterest Expense      
       
Service charges on deposit accounts $9,544 $10,187 $11,490
Trust fees 3,991 4,324 3,846
Debit card & merchant fees 3,510 3,768 3,596
Insurance fees 3,249 3,773 3,511
Investment & annuity fees 3,133 2,333 2,279
ATM fees 2,731 2,574 1,951
Secondary mortgage market operations 1,567 3,178 1,640
Gain on acquisition  --  -- 0
Other income 6,457 4,930 3,068
Noninterest income excluding      
 securities transactions $34,183 $35,067 $31,381
Securities transactions gains/(losses)  (51)  --  --
Total noninterest income including       
 securities transactions $34,132 $35,067 $31,381
       
Personnel expense $37,835 $36,006 $34,767
Occupancy expense (net) 5,911 5,977 6,143
Equipment expense 2,854 2,706 2,724
Other operating expense 25,805 25,912 23,450
Amortization of intangibles 614 656 738
Total noninterest expense  $73,019 $71,257 $67,822
       
(c) Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense, one-time merger items, and securities transactions. Management

believes that PTPP profit is a useful financial measure because it enables investors and others to assess the Company's ability to generate capital

to cover credit losses through a credit cycle.
       
       
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Period-end Balance Sheet      
       
Commercial/real estate loans $3,089,365 $3,147,765 $3,120,584
Mortgage loans 630,092 659,689 718,333
Direct consumer loans 733,173 739,262 719,071
Indirect consumer loans 292,941 309,454 346,160
Finance Company loans 95,404 100,994 107,542
Total loans 4,840,975 4,957,164 5,011,690
Loans held for sale 7,468 21,866 22,210
Securities 1,593,511 1,488,885 1,758,972
Short-term investments 759,644 639,163 689,014
Earning assets 7,201,598 7,107,078 7,481,886
Allowance for loan losses (94,356) (81,997) (66,625)
Other assets 1,203,792 1,113,246 1,150,219
Total assets $8,311,034 $8,138,327 $8,565,480
       
Noninterest bearing deposits $1,186,852 $1,127,246 $1,022,372
Interest bearing transaction deposits 2,051,805 1,995,081 1,931,749
Interest bearing Public Fund deposits 1,208,334 1,216,702 1,187,410
Time deposits 2,250,319 2,436,690 2,863,196
Total interest bearing deposits 5,510,458 5,648,473 5,982,355
Total deposits  6,697,310 6,775,719 7,004,727
Other borrowed funds 442,294 388,352 578,777
Other liabilities 113,731 117,708 131,173
Common shareholders' equity 1,057,699 856,548 850,803
Total liabilities & common equity $8,311,034 $8,138,327 $8,565,480
       
Commercial Loans/Real Estate Loans      
       
Commercial non-real estate loans $546,490 $559,301 $439,636
Construction and land development loans 623,343 652,857 801,474
Commercial real estate secured loans 1,408,711 1,413,287 1,360,774
Municipal loans 461,401 471,598 459,208
Lease financing 49,420 50,721 59,492
Total commercial/real estate loans $3,089,365 $3,147,764 $3,120,584
       
Construction and Land Development Loans      
       
Residential construction $123,997 $136,879 $109,176
Commercial owner occupied 108,909 101,291 172,977
Commercial non-owner occupied 86,403 81,503 114,752
Land development 154,674 166,434 249,461
Lots 149,360 166,750 155,108
Total construction and land development loans $623,343 $652,857 $801,474
       
Commercial Real Estate Secured Loans      
Commercial real estate owner occupied $710,528 $701,775 $691,371
Commercial real estate non-owner occupied 698,183 711,512 669,403
Total commercial real estate secured loans $1,408,711 $1,413,287 $1,360,774
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Average Balance Sheet      
       
Commercial/real estate loans 3,099,303 3,087,181 $3,145,748
Mortgage loans 653,150 702,285 735,279
Direct consumer loans 736,133 745,922 737,728
Indirect consumer loans 301,638 315,369 359,965
Finance Company loans 97,525 100,776 109,819
Total loans 4,887,749 4,951,533 5,088,539
Securities 1,444,872 1,485,732 1,572,883
Short-term investments 742,761 606,927 813,122
Earning average assets 7,075,382 7,044,192 7,474,544
Allowance for loan losses (82,758) (80,248) (66,170)
Other assets 1,244,747 1,216,267 1,246,022
Total assets $8,237,371 $8,180,211 $8,654,396
       
Noninterest bearing deposits $1,144,469 $1,139,094 $1,018,863
Interest bearing transaction deposits 2,029,706 1,989,250 1,894,997
Interest bearing Public Fund deposits 1,227,723 1,088,384 1,275,202
Time deposits 2,350,572 2,506,736 2,933,094
Total interest bearing deposits 5,608,001 5,584,370 6,103,293
Total deposits 6,752,470 6,723,464 7,122,156
Other borrowed funds 501,028 465,446 543,307
Other liabilities 104,035 115,974 135,814
Common shareholders' equity 879,838 875,327 853,119
Total liabilities & common equity $8,237,371 $8,180,211 $8,654,396
       
       
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Average Balance Sheet Mix      
       
Percentage of earning assets/funding sources:      
Loans 69.08% 70.29% 68.08%
Securities 20.42% 21.09% 21.04%
Short-term investments 10.50% 8.62% 10.88%
Earning average assets 100.00% 100.00% 100.00%
       
Noninterest bearing deposits 16.18% 16.17% 13.63%
Interest bearing transaction deposits 28.69% 28.24% 25.35%
Interest bearing Public Fund deposits 17.35% 15.45% 17.06%
Time deposits 33.22% 35.59% 39.24%
Total deposits 95.44% 95.45% 95.28%
Other borrowed funds 7.08% 6.61% 7.27%
Other net interest-free funding sources -2.52% -2.06% -2.55%
Total average funding sources 100.00% 100.00% 100.00%
       
Loan mix:      
Commercial/real estate loans 63.41% 62.35% 61.82%
Mortgage loans 13.36% 14.18% 14.45%
Direct consumer loans 15.06% 15.06% 14.50%
Indirect consumer loans 6.17% 6.37% 7.07%
Finance Company loans 2.00% 2.04% 2.16%
Total loans 100.00% 100.00% 100.00%
       
Average dollars (in thousands):      
Loans $4,887,749 $4,951,533 $5,088,539
Securities 1,444,872 1,485,732 1,572,883
Short-term investments 742,761 606,927 813,122
Earning average assets $7,075,382 $7,044,192 $7,474,544
       
Noninterest bearing deposits $1,144,469 $1,139,094 $1,018,863
Interest bearing transaction deposits 2,029,706 1,989,250 1,894,997
Interest bearing Public Fund deposits 1,227,723 1,088,384 1,275,202
Time deposits 2,350,572 2,506,736 2,933,094
Total deposits 6,752,470 6,723,464 7,122,156
Other borrowed funds 501,028 465,446 543,307
Other net interest-free funding sources (178,116) (144,718)  (190,919)
Total average funding sources $7,075,382 $7,044,192 $7,474,544
       
Loans:      
Commercial/real estate loans $3,099,303 $3,087,181 $3,145,748
Mortgage loans 653,150 702,285 735,279
Direct consumer loans 736,133 745,922 737,728
Indirect consumer loans 301,638 315,369 359,965
Finance Company loans 97,525 100,776 109,819
Total average loans $4,887,749 $4,951,533 $5,088,539
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Asset Quality Information      
       
Non-accrual loans $100,718 $112,274 $92,828
Restructured loans 19,757 12,641  -- 
Foreclosed assets 41,380 33,277 30,243
Total non-performing assets $161,855 $158,192 $123,071
Non-performing assets as a percent of loans and foreclosed assets 3.32% 3.17% 2.44%
Accruing loans 90 days past due  $691 $1,492 $13,457
Accruing loans 90 days past due as a percent of loans 0.01% 0.03% 0.27%
Non-performing assets + accruing loans 90 days past due       
 to loans and foreclosed assets 3.33% 3.19% 2.71%
Allowance for loan losses $94,356 $81,997 $66,625
Allowance for loan losses as a percent of period-end loans 1.95% 1.65% 1.33%
Allowance for loan losses to NPAs + accruing loans 90 days past due 58.05% 51.35% 48.80%
       
  3/31/11
  Non-Covered

Loans
Covered Loans (d) Total
Non-accrual loans $56,654 $44,064 $100,718
Restructured loans 19,757   19,757
Foreclosed assets 18,559 22,821 41,380
Total non-performing assets $94,970 $66,885 $161,855
Non-performing assets as a percent of loans and foreclosed assets 2.33% 8.34% 3.32%
Accruing loans 90 days past due   691  -- $691
Accruing loans 90 days past due as a percent of loans 0.02%  -- 0.01%
Non-performing assets + accruing loans 90 days past due       
 to loans and foreclosed assets 2.34% 8.34% 3.33%
Allowance for loan losses 83,160  11,196 94,356
Allowance for loan losses as a percent of period-end loans 2.05% 1.44% 1.95%
Allowance for loan losses to NPAs + accruing loans 90 days past due 86.93% 16.74% 58.05%
       
(d) Assets covered under the FDIC loss share agreements, which

provide considerable protection against credit risk. 
12/31/10
  Non-Covered

Loans
Covered Loans Total
Non-accrual loans $66,988 $45,286 $112,274
Restructured loans 12,641   12,641
Foreclosed assets 17,595 15,682 33,277
Total non-performing assets $97,224 $60,968 $158,192
Non-performing assets as a percent of loans and foreclosed assets 2.33% 7.39% 3.17%
Accruing loans 90 days past due  $1,492  --  1,492
Accruing loans 90 days past due as a percent of loans 0.04%  -- 0.03%
Non-performing assets + accruing loans 90 days past due       
 to loans and foreclosed assets 2.37% 7.39% 3.19%
Allowance for loan losses 81,325  672 81,997
Allowance for loan losses as a percent of period-end loans 1.96% 0.08% 1.65%
Allowance for loan losses to NPAs + accruing loans 90 days past due 82.38% 1.10% 51.35%
       
       
 Hancock Holding Company       
 Financial Highlights       
 (amounts in thousands)       
 (unaudited)       
   
   Three Months Ended 
  3/31/2011 12/31/2010 3/31/2010
Period-end Balance Sheet      
       
Commercial/real estate loans $3,089,365 $3,147,765 $3,120,584
Mortgage loans 630,092 659,689 718,333
Direct consumer loans 733,173 739,262 719,071
Indirect consumer loans 292,941 309,454 346,160
Finance Company loans 95,404 100,994 107,542
Total loans 4,840,975 4,957,164 5,011,690
       
  3/31/11
  Non-Covered

Loans
Covered Loans (d) Total
Commercial/real estate loans $2,726,698 $362,667 $3,089,365
Mortgage loans 357,793 272,299 630,092
Direct consumer loans 588,787 144,386 733,173
Indirect consumer loans 292,941  -- 292,941
Finance Company loans 95,404  -- 95,404
Total loans $4,061,623 $779,352 $4,840,975
       
  12/31/10
  Non-Covered

Loans
Covered Loans  Total
Commercial/real estate loans $2,773,434 $374,331 $3,147,765
Mortgage loans 366,184 293,505 659,689
Direct consumer loans 597,947 141,315 739,262
Indirect consumer loans 309,454  -- 309,454
Finance Company loans 100,994  -- 100,994
Total loans $4,148,013 $809,151 $4,957,164
       
(d) Assets covered under the FDIC loss share agreements, which 

provide considerable protection against credit risk.
     
       
 Hancock Holding Company                   
 Average Balance and Net Interest Margin Summary             
 (amounts in thousands)                   
 (unaudited)                   
   
  Three Months Ended
  03/31/11 12/31/10 03/31/10
  Interest Volume Rate Interest Volume Rate Interest Volume Rate
                   
Average Earning Assets                  
Commercial & real estate loans (TE) $40,267 $3,099,303 5.26% $40,945 $3,087,181 5.27% $42,603 $3,145,748 5.48%
Mortgage loans  10,824  653,150 6.63%  10,789  702,285 6.14%  12,217  735,279 6.65%
Consumer loans  19,175  1,135,296 6.70%  20,532  1,162,067 7.01%  21,491  1,207,512 7.22%
Loan fees & late charges  (59)  -- 0.00%  26  -- 0.00%  228  -- 0.00%
 Total loans (TE) $70,207 $4,887,749 5.81% $72,292 $4,951,533 5.80% $76,539 5,088,539 6.08%
                   
US treasury securities  12  10,798 0.47%  14  10,799 0.50%  15  11,838 0.50%
US agency securities  771  172,116 1.79%  444  106,129 1.67%  1,387  163,132 3.40%
CMOs  3,018  351,224 3.44%  2,962  378,455 3.13%  2,063  168,129 4.91%
Mortgage backed securities  8,172  713,783 4.58%  8,939  788,474 4.53%  12,051  1,022,288 4.72%
Municipals (TE)  2,678  178,904 5.99%  2,734  183,833 5.95%  2,491  192,447 5.18%
Other securities  248  18,047 5.50%  204  18,043 4.51%  261  15,049 6.94%
 Total securities (TE)  14,899  1,444,872 4.12%  15,297  1,485,733 4.12%  18,268  1,572,883 4.65%
                   
 Total short-term investments  299  742,761 0.16%  329  606,927 0.22%  589  813,122 0.29%
                   
 Average earning assets yield (TE) $85,405 $7,075,382 4.87% $87,918 $7,044,193 4.97% $95,396 $7,474,544 5.15%
                   
Interest-bearing Liabilities                  
Interest-bearing transaction deposits  $1,596 $2,029,706 0.32% $1,889 $1,989,250 0.38% $2,503 $1,894,997 0.54%
Time deposits  10,821  2,350,572 1.87%  10,403  2,506,736 1.65%  17,537  2,933,094 2.42%
Public Funds  1,593  1,227,723 0.53%  1,780  1,088,384 0.65%  3,243  1,275,202 1.03%
 Total interest bearing deposits $14,010 5,608,001 1.01% $14,072 5,584,370 1.00% $23,283 6,103,293 1.55%
                   
 Total borrowings  1,759  501,028 1.42%  2,028  465,446 1.73%  2,517  543,307 1.88%
                   
 Total interest bearing liab cost $15,769 $6,109,029 1.05% $16,100 $6,049,816 1.06% $25,800 $6,646,600 1.57%
                   
Net interest-free funding sources    966,353      994,376      827,944  
Other net interest-free funding sources                   
                   
Total Cost of Funds $15,769 $7,075,382 0.90% $16,100 $7,044,192 0.91% $25,800 $7,474,544 1.40%
                   
Net Interest Spread (TE) $69,636   3.82% $71,818   3.91% $69,596   3.57%
                   
Net Interest Margin (TE) $69,636 $7,075,382 3.97% $71,818 $7,044,192 4.06% $69,596 $7,474,544 3.75%
 Hancock Holding Company                 
 Quarterly Financial Data                 
 (amounts in thousands, except                 
per share data and FTE headcount)                
 (unaudited)  2009 2010 2011
  2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
Per Common Share Data                
                 
Earnings per share:                
 Basic $0.43 $0.48 $0.89 $0.37 $0.17 $0.40 $0.46 $0.41
 Diluted $0.43 $0.47 $0.89 $0.37 $0.17 $0.40 $0.46 $0.41
Cash dividends per share  $0.24 $0.24 $0.24 $0.24 $0.24 $0.24 $0.24 $0.24
Book value per share (period-end) $19.82 $20.54 $22.74 $23.05 $23.36 $23.48 $23.22 $24.52
Tangible book value per share (period-end) $17.68 $18.42 $20.60 $20.94 $21.28 $21.42 $21.18 $22.79
Weighted average number of shares:                
 Basic 31,820 31,857 35,481 36,868 36,876 36,880 36,916 37,333
 Diluted 32,009 32,058 35,705 37,105 37,078 36,995 37,065 37,521
Period-end number of shares 31,827 31,877 36,840 36,905 36,877 36,883 36,893 43,139
Market data:                
 High sales price $41.19 $42.38 $44.89 $45.86 $43.90 $35.40 $37.26 $35.68
 Low sales price $30.12 $29.90 $35.26 $38.23 $33.27 $26.82 $28.88 $30.67
 Period end closing price  $32.49 $37.57 $43.81 $41.81 $33.36 $30.07 $34.86 $32.84
 Trading volume 17,040 11,676 19,538 9,612 12,443 14,318 13,701 25,942
                 
Other Period-end Data                
                 
FTE headcount 1,911 1,903 2,240 2,263 2,278 2,235 2,271 2,299
Tangible common equity $562,800 $587,161 $758,840 $772,735 $784,872 $790,040 $781,420 $983,160
Tier I capital $565,807 $575,856 $756,106 $764,074 $764,608 $772,247 $782,301 $981,439
Goodwill $62,277 $62,277 $62,277 $62,277 $61,631 $61,631 $61,631 $61,631
Amortizable intangibles $5,350 $4,996 $16,252 $15,791 $14,516 $13,860 $13,496 $12,908
                 
Performance Ratios                
                 
Return on average assets 0.78% 0.87% 1.75% 0.65% 0.31% 0.70% 0.83% 0.75%
Return on average common equity 8.67% 9.38% 15.92% 6.58% 3.03% 6.75% 7.71% 7.07%
Earning asset yield (TE) 5.26% 5.26% 5.32% 5.15% 5.06% 4.87% 4.97% 4.87%
Total cost of funds 1.48% 1.39% 1.35% 1.40% 1.19% 1.02% 0.91% 0.90%
Net interest margin (TE) 3.78% 3.86% 3.96% 3.75% 3.87% 3.85% 4.06% 3.97%
Noninterest expense as a percent                
 of total revenue (TE) before amortization                
 of purchased intangibles and                
 securities transactions 61.47% 60.81% 49.82% 66.43% 67.26% 64.25% 66.05% 69.74%
Common equity (period-end) as                
 a percent of total assets (period-end) 8.95% 9.62% 9.63% 9.93% 10.13% 10.51% 10.52% 12.73%
Leverage (Tier I) ratio  8.13% 8.33% 10.60% 8.91% 9.06% 9.32% 9.65% 12.02%
Tangible common equity ratio  8.06% 8.71% 8.81% 9.10% 9.32% 9.68% 9.69% 11.94%
Net charge-offs as a                
 percent of average loans 1.50% 1.24% 1.24% 1.06% 1.11% 1.10% 0.78% 0.57%
Allowance for loan losses as                 
 a percent of period-end loans 1.49% 1.50% 1.29% 1.33% 1.55% 1.62% 1.65% 1.95%
Allowance for loan losses to                 
 NPAs + loans 90 days past due 117.14% 120.25% 58.69% 48.80% 38.03% 43.63% 51.35% 58.05%
Loan/deposit ratio 74.95% 77.36% 77.89% 71.45% 71.63% 72.78% 73.65% 72.38%
Noninterest income excluding                
 securities transactions as a percent                
 of total revenue (TE) 36.65% 33.31% 49.86% 31.08% 33.23% 33.56% 32.81% 32.93%
                 
                 
 Hancock Holding Company                 
 Quarterly Financial Data                 
 (amounts in thousands, except                 
per share data and FTE headcount)                
 (unaudited)  2009 2010 2011
  2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
Asset Quality Information                
                 
Non-accrual loans $34,189 $35,558 $86,555 $92,828 $150,127 $132,834 $112,274 $100,718
Restructured loans  --   --   --   --   --   10,740 12,641 19,757
Foreclosed assets 8,884 9,775 14,336 30,243 44,901 31,879 33,277 41,380
Total non-performing assets $43,073 $45,333 $100,891 $123,071 $195,028 $175,453 $158,192 $161,855
Non-performing assets as a percent of loans                
 and foreclosed assets 1.01% 1.06% 1.97% 2.44% 3.89% 3.55% 3.17% 3.32%
                 
Accruing loans 90 days past due $11,435 $7,766 $11,647 $13,457 $8,002 $7,292 $1,492 $691
Accruing loans 90 days past due as                 
 a percent of loans 0.27% 0.18% 0.23% 0.27% 0.16% 0.15% 0.03% 0.01%
Non-performing assets + accruing loans                
 90 days past due to loans and                
 foreclosed assets 1.27% 1.25% 2.19% 2.71% 4.05% 3.70% 3.19% 3.33%
                 
Net charge-offs $16,019 $13,495 $13,634 $13,251 $13,921 $13,754 $9,756 $6,817
Net charge-offs as                
 a percent of average loans 1.50% 1.24% 1.24% 1.06% 1.11% 1.10% 0.78% 0.57%
                 
Allowance for loan losses $63,850 $63,850 $66,050 $66,625 $77,221 $79,725 $81,997 $94,356
Allowance for loan losses as a                
 percent of period-end loans 1.49% 1.50% 1.29% 1.33% 1.55% 1.62% 1.65% 1.95%
Allowance for loan losses to NPAs +                
 accruing loans 90 days past due 117.14% 120.25% 58.69% 48.80% 38.03% 43.63% 51.35% 58.05%
                 
Provision for loan losses $16,919 $13,495 $15,834 $13,826 $24,517 $16,258 $11,390 $8,822
                 
Net Charge-off Information                
                 
Net charge-offs:                
Commercial/real estate loans $12,524 $10,176 $9,110 $10,238 $10,537 $9,140 $5,987 $4,159
Mortgage loans 199 177 1,211 608 569 1,674 1,024 371
Direct consumer loans 1,226 821 1,209 608 1,241 1,003 939 1,234
Indirect consumer loans 717 1,169 883 608 449 569 356 278
Finance company loans 1,353 1,152 1,221 1,189 1,125 1,368 1,450 775
Total net charge-offs  $16,019 $13,495 $13,634 $13,251 $13,921 $13,754 $9,756 $6,817
                 
Average loans:                
Commercial/real estate loans $2,696,500 $2,739,518 $2,777,866 $3,145,748 $3,090,938 $3,056,578 $3,087,181 $3,099,303
Mortgage loans 452,324 438,659 470,441 735,279 744,880 753,686 702,285 653,150
Direct consumer loans 596,725 603,394 630,511 737,728 728,939 738,036 745,922 736,133
Indirect consumer loans 420,444 410,035 386,157 359,965 336,260 324,337 315,369 301,638
Finance Company loans 111,358 110,045 110,233 109,819 107,821 103,297 100,776 97,525
Total average loans $4,277,351 $4,301,651 $4,375,208 $5,088,539 $5,008,838 $4,975,934 $4,951,533 $4,887,749
                 
Net charge-offs to average loans:                
Commercial/real estate loans 1.86% 1.47% 1.30% 1.32% 1.37% 1.19% 0.77% 0.54%
Mortgage loans 0.18% 0.16% 1.02% 0.34% 0.31% 0.88% 0.58% 0.23%
Direct consumer loans 0.82% 0.54% 0.76% 0.33% 0.68% 0.54% 0.50% 0.71%
Indirect consumer loans 0.68% 1.13% 0.91% 0.69% 0.54% 0.70% 0.45% 0.30%
Finance Company loans 4.87% 4.15% 4.39% 4.39% 4.19% 5.25% 5.71% 3.22%
Total net charge-offs to average loans  1.50% 1.24% 1.24% 1.06% 1.11% 1.10% 0.78% 0.57%
                 
                 
                 
 Hancock Holding Company                 
 Quarterly Financial Data                 
 (amounts in thousands, except                 
per share data and FTE headcount)                
 (unaudited)  2009 2010 2011
  2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
Income Statement                
                 
Interest income  $80,105 $79,758 $82,416 $92,379 $89,741 $85,398 $85,040 $82,533
Interest income (TE) 83,054 82,757 85,585 95,396 92,788 88,284 87,917 85,405
Interest expense 23,413 22,004 21,881 25,800 21,868 18,576 16,100 15,769
Net interest income (TE) 59,641 60,753 63,704 69,596 70,920 69,708 71,817 69,636
Provision for loan losses 16,919 13,495 15,834 0 24,517 16,258 11,390 8,822
Noninterest income excluding                 
 securities transactions  34,504 30,347 63,353 31,381 35,293 35,208 35,067 34,183
Securities transactions gains/(losses)  --  61  7  --  --  --  --  (51)
Noninterest expense  58,226 55,749 63,657 67,822 72,122 68,060 71,257 73,019
Income before income taxes 16,051 18,918 44,404 30,138 6,527 17,712 21,359 19,055
Income tax expense 2,305 3,700 12,624 2,478 27 2,859 4,339 3,727
Net income $13,746 $15,218 $31,780 $27,660 $6,500 $14,853 $17,020 $15,328
                 
Pre-tax, pre-provision profit (PTPP) $32,970 $32,352 $33,483 $31,587 $32,762 $36,856 $35,627 $32,388
                 
                 
                 
Noninterest Income                
 and Noninterest Expense                
                 
Service charges on deposit accounts $11,242 $11,795 $11,814 $11,490 $12,327 $11,331 $10,187 $9,544
Trust fees 3,855 4,008 3,937 3,846 4,408 4,138 4,324 3,991
Debit card & merchant fees 2,895 2,845 2,944 3,596 3,928 3,649 3,768 3,510
Insurance fees 4,048 3,526 3,329 3,511 3,641 3,535 3,773 3,249
Investment & annuity fees 1,691 2,007 1,662 2,279 2,663 2,906 2,333 3,133
ATM fees 1,895 1,862 1,838 1,951 2,321 2,640 2,574 2,731
Secondary mortgage market operations 1,827 1,482 1,439 1,640 1,529 2,569 3,178 1,567
Gain on acquisition  --  --  33,623 0  --  --  --  --
Other income 7,051 2,822 2,767 3,068 4,476 4,440 4,930 6,457
Noninterest income excluding                 
 securities transactions $34,504 $30,347 $63,353 $31,381 $35,293 $35,208 $35,067 $34,183
Securities transactions gains/(losses)  --  61  7  --  --  --  --  (51)
Total noninterest income including                 
 securities transactions $34,504 $30,408 $63,360 $31,381 $35,293 $35,208 $35,067 $34,132
                 
Personnel expense $28,703 $29,113 $32,858 $34,767 $35,379 $35,890 $36,006 $37,835
Occupancy expense (net) 5,016 5,144 5,126 6,143 6,026 5,657 5,977 5,911
Equipment expense 2,583 2,397 2,335 2,724 2,642 2,496 2,706 2,854
Other operating expense 21,570 18,741 22,984 23,450 27,391 23,361 25,912 25,805
Amortization of intangibles 354 354 354 738 684 656 656 614
Total noninterest expense  $58,226 $55,749 $63,657 $67,822 $72,122 $68,060 $71,257 $73,019
CONTACT:  Carl J. Chaney, President and Chief Executive Officer
          Michael M. Achary, EVP & Chief Financial Officer
          Paul D. Guichet, VP, Investor Relations
          800.522.6542 or 228.563.6559

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.11%
$30K home equity loan FICO 5.19%
$75K home equity loan FICO 4.65%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.36%
13.34%
Cash Back Cards 17.84%
17.82%
Rewards Cards 17.09%
17.07%
Source: Bankrate.com