The Bank Slate


Hancock Whitney cuts 200 jobs, closing more branches

Hancock Whitney in New Orleans eliminated 200 jobs and will close 18 branches.

The $35.1 billion-asset company said in a press release Tuesday that the branches will close in October. Including 20 locations that were closed earlier in the year, Hancock has reduced its network by about 18% since the end of 2020.
The layoffs represented about 5.5% of the company’s workforce.

Hancock had previously cut 260 positions after offering a voluntary early retirement program. The company said the early retirement effort should save it $19 million annually.

Hancock reported second-quarter earnings of $88.7 million, or a 17% decline from a quarter earlier. The company lost $117.1 million a year earlier after boosting its loan-loss provision and shedding $497 million of energy loans

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