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Texas Capital Bancshares in Dallas reported just a modest uptick in third-quarter profits as higher compensation costs and deposit insurance assessments largely offset strong loan growth.
October 22 -
Regions Financial in Birmingham, Ala., reported gains in loans and overall revenues in the third quarter, but its net income declined from the same period last year due to increases in its premium for federal deposit insurance and provision for loan losses.
October 20 -
Hancock Holding in Gulfport, Miss., has agreed to buy a portfolio of health care loans from United Community Banks in Blairsville, Ga.
October 6
Hancock Holding in Gulfport, Miss., reported a lower third-quarter profit, citing a decline in net interest income and higher expenses.
The $21.6 billion-asset company said net income fell 11.6% to $41.2 million, or 52 cents per share, according to a
Net interest income fell 4.1% to $156.8 million, led by a $13 million drop in purchase accounting income. Total loans rose 10.6% to $14.8 billion. The net interest margin shrank 53 basis points to 3.28%.
Hancock added $5 million, or about 5 cents per share, to its loan-loss provision to “build the energy reserve,” Chief Executive John Hairston said in the release.
Hancock “remain[s] confident that any credit losses we see today from the low oil prices are reserved for and should not be significant,” Hairston said.
Energy-related loans made up about $1.6 billion, or 11%, of Hancock's loan portfolio, at Sept. 30.
Fee income rose 3.9% to $60.2 million, on lower amortization of the bank's Federal Deposit Insurance Corp. loss-share receivable, and higher fees from investments and annuities, secondary mortgage operations and insurance commissions.
Noninterest expense rose 1.4% to $151.2 million on higher personnel costs and occupancy expense. The efficiency ratio worsened to 65.88%.
