Hancock Holding Co. in Gulfport, Miss., reported fourth-quarter earnings rose 11% from a year earlier, to $21.8 million.
Full-year earnings rose 113%, to nearly $102 million, though last year's earnings were depressed by charges relating to Hurricane Katrina.
Fourth-quarter earnings were helped by a $5.1 million settlement with a property/casualty insurer for claims related to the storm.
Total loans rose 9%, to $3.3 billion at yearend, but deposits rose less than 1%, to $5 billion, the $6 billion-asset Hancock said late Monday. It attributed the deposit slowdown to Gulf Coast rebuilding efforts.
Hancock's net interest margin fell 38 basis points, to 4.06%, as a result of higher funding costs.
Shares of Hancock fell 4.2% in heavy trading, to $47.22 late Wednesday.
