Content analysis
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H.S. sophomore Bad
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New words:
certification, comment, decided, eligible, expert, final, guide, job, newly, parallel, shock, slightly, specialty, tentatively, tracking, workbook
Removed:
assistance, branch, centralized, occupancy, role, working
Financial report summary
?Risks
- Because the market price of Hancock Whitney common stock will fluctuate, the value of the merger consideration to be received by our shareholders may change.
- Regulatory approvals may not be received, may take longer than expected or may impose conditions that are not presently anticipated or cannot be met.
- Failure of the merger to be completed, the termination of the Merger Agreement, or a significant delay in the consummation of the merger could negatively impact the Company.
- The Company will be subject to business uncertainties and contractual restrictions while the merger is pending.
- The Merger Agreement contains provisions that may discourage other companies from pursuing, announcing or submitting a business combination proposal to the Company that might result in greater value to Company shareholders.
Management Discussion
- Net loss available to common shareholders totaled $3.7 million, or $0.22 per share, for the three months ended June 30, 2019, compared to net loss available to common shareholders of $1.5 million, or $0.09 per share, for the three months ended June 30, 2018. Provision for loan loss totaled $4.8 million and $440,000 for the three months ended June 30, 2019 and 2018, respectively. The loan loss provisions increased substantially during 2019 primarily due to a $3.4 million impairment charge for a shared national healthcare credit.
- Fully taxable-equivalent ("FTE") net interest income was $16.0 million for the second quarter of 2019, a $1.0 million decrease compared to $17.0 million for the second quarter of 2018, resulting from a $821,000 decrease in interest income and a $216,000 increase in interest expense. Our net interest margin, on a FTE basis, increased 3 basis points in prior year quarterly comparison, from 3.97% for the second quarter of 2018 to 4.00% for the second quarter of 2019.
- Excluding remediation expenses of $5.3 million for the second quarter of 2018 and merger-related expenses of $1.1 million for the second quarter 2019, noninterest expenses increased $480,000 in quarterly comparison.