BUSINESS WIRE<\/a>)–
\nHancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the second quarter of 2021. Net income for the second quarter of 2021 was $88.7 million, or $1.00 per diluted common share (EPS), compared to $107.2 million, or $1.21 per diluted common share, in the first quarter of 2021. The company reported a net loss for the second quarter of 2020 of $117.1 million, or ($1.36) per diluted common share resulting from a COVID-19 reserve build and the sale of $497 million of energy loans. The second quarter of 2021 included $42.2 million, or $0.37 per share after-tax, of net nonoperating items. The items include the previously announced branch closures (20), subordinated debt redemption and Voluntary Early Retirement Program (VERP), plus the cost associated with an additional 18 branch closures and a 200-position reduction in force. These costs were partially offset by a gain on the sale of Mastercard class B common stock (Mastercard stock). The first quarter of 2021 and second quarter of 2020 did not include any nonoperating items.\n<\/p>\nSecond Quarter 2021 Highlights<\/b><\/p>\n\n- \nNet income of $88.7 million, or $1.00 per diluted share, down $18.5 million, or $0.21 per share\n<\/li>\n
- \nResults include $42.2 million, or $0.37 per share after tax, of net nonoperating items\n<\/li>\n
- \nPre-provision net revenue (PPNR) totaled $137.2 million, up $5.7 million, or 4%, linked-quarter\n<\/li>\n
- \nNegative provision for credit losses of $17.2 million resulted from a $27.7 million reserve release and $10.5 million in net charge-offs\n<\/li>\n
- \nAllowance for Credit Losses (ACL) remained strong at 2.03%\n<\/li>\n
- \nNonperforming loans declined 24% and criticized commercial loans declined 5%\n<\/li>\n
- \nNet interest margin (NIM) compressed 13 basis points (bps) to 2.96%, mainly from the impact of excess liquidity driven by PPP forgiveness and deposit growth\n<\/li>\n
- \nTCE ratio 7.70%, up 44 bps\n<\/li>\n
- \nLoans declined $516.3 million linked-quarter; net PPP forgiveness of $928.1 million partially offset by core loan growth of $411.8 million\n<\/li>\n
- \nDeposits increased $62.6 million linked-quarter, mainly from continued pandemic-related PPP and stimulus deposit funding\n<\/li>\n<\/ul>\n
\n\u201cI am very pleased to report a continuation of improving performance as solid second quarter operating results either met or exceeded expectations for the quarter,\u201d said John M. Hairston, President and CEO. \u201cGrowth in core loans (excluding PPP) exceeded expectations as our bankers and support teams worked diligently to close business, with our full workforce returning to the office. Elevated levels of excess liquidity continue to compress our margin, however, net interest income remained flat given our ongoing efforts to minimize the impact of today\u2019s rate environment. As our markets have re-opened, economic activity has picked up as evidenced by the growth in fee income. Further, we completed most of our expense and efficiency initiatives during the quarter, leading to a linked-quarter increase in pre-provision, net revenue (PPNR) of $6 million, or 4%. We reported another modest reserve release and negative provision for credit losses as our credit metrics improved once again this quarter. Our capital remains solid, and with materially all expense initiatives announced, and one-time expenses accounted for, we are looking toward the future with a relentless focus and determination designed to improve performance and value.\u201d\n<\/p>\n
Loans<\/b><\/p>\n
\nLoans totaled $21.1 billion at June 30, 2021, down $516.3 million, or 2%, linked-quarter. During the quarter, $1.033 billion in PPP loans were forgiven and $104.9 million in new PPP loans were originated under the extended CARES Act program. Core loans increased $411.8 million related to loan production in the eastern and western regions within our geographic footprint, growth in equipment finance and healthcare, fewer than expected payoffs, and a stabilization of line utilization rates. Indirect and energy loans continue to runoff, with no new production planned, and residential mortgage payoffs continued in low rate environment.\n<\/p>\n
\nAverage loans totaled $21.4 billion for the second quarter of 2021, down $356.5 million, or 2%, linked-quarter.\n<\/p>\n
\nManagement expects core loans to be up $200 to $300 million in the third quarter of 2021, and to double to $400 to $600 million in the fourth quarter of 2021, as opportunities for growth are anticipated to improve.\n<\/p>\n
Deposits<\/b><\/p>\n
\nTotal deposits at June 30, 2021 were $29.3 billion, up $62.6 million, or less than 1%, from March 31, 2021. Excess liquidity related to stimulus and other pandemic-related client funds contributed to the second quarter of 2021\u2019s level of deposits.\n<\/p>\n
\nDDAs totaled $13.4 billion at June 30, 2021, up $231.5 million, or 2%, from March 31, 2021 and comprised 46% of total period-end deposits at June 30, 2021. Interest-bearing transaction and savings deposits totaled $11.3 billion at the end of the second quarter of 2021, up $108.3 million, or 1%, linked-quarter. Compared to March 31, 2021, time deposits of $1.4 billion were down $285.5 million, or 17%. Interest-bearing public fund deposits, remained relatively flat linked-quarter at $3.2 billion.\n<\/p>\n
\nAverage deposits for the second quarter of 2021 were $29.2 billion, up $1.1 billion, or 4%, linked-quarter.\n<\/p>\n
Asset Quality<\/b><\/p>\n
\nThe total allowance for credit losses (ACL) was $429.2 million at June 30, 2021, down $27.7 million from March 31, 2021. During the second quarter of 2021, the company recorded a negative provision for credit losses of $17.2 million, compared to a negative provision of $4.9 million in the first quarter of 2021. Net charge-offs totaled $10.5 million in the second quarter of 2021, or 0.20% of average total loans on an annualized basis, down from $18.3 million, or 0.34% of average total loans in the first quarter of 2021. The ratio of ACL to period-end loans was 2.03% (2.17% excluding PPP loans) at June 30, 2021, compared to 2.11% (2.35% excluding PPP loans) at March 31, 2021.\n<\/p>\n
\nThe company\u2019s overall asset quality metrics continued to improve with commercial criticized and total nonperforming loans down 5% and 24%, respectively, linked-quarter. Nonperforming assets (NPAs) totaled $97.6 million at June 30, 2021, down $26.6 million, or 21%, from March 31, 2021. During the second quarter of 2021, total nonperforming loans decreased $27.4 million, or 24%, while ORE and foreclosed assets were virtually flat linked-quarter. Nonperforming assets as a percent of total loans, ORE and other foreclosed assets was 0.46% at June 30, 2021, down 11 bps from March 31, 2021.\n<\/p>\n
Net Interest Income and Net Interest Margin (NIM)<\/b><\/p>\n
\nNet interest income (TE) for the second quarter of 2021 was $237.5 million, virtually unchanged from the first quarter of 2021.\n<\/p>\n
\nThe net interest margin (NIM) was 2.96% in the second quarter of 2021, a decline of 13 bps linked-quarter. Factors driving NIM compression include a change in earning asset mix and yield (-11 bps), a change in net interest recoveries on nonaccrual loans (-3 bps), and lower purchase accounting accretion (-3 bps), partially offset by the net impact of lower deposit costs (+4 bps).\n<\/p>\n
\nAverage earning assets were $32.2 billion for the second quarter of 2021, up $1.2 billion, or 4%, from the first quarter of 2021.\n<\/p>\n
\nManagement expects continued NIM compression in the third quarter of 2021, however, net interest income should remain relatively stable.\n<\/p>\n
Noninterest Income<\/b><\/p>\n
\nNoninterest income totaled $94.3 million for the second quarter of 2021, up $7.2 million, or 8%, from the first quarter of 2021. Improvement was noted in many fee categories as local economic activity continues to rebound and consumer spending increases. Nonoperating income of $2.8 million related to the sale of Mastercard stock is included in total noninterest income. Adjusting for this item, noninterest income totaled $91.5 million, up $4.4 million, or 5%, linked-quarter.\n<\/p>\n
\nService charges on deposits were up $0.2 million, or 1%, from the first quarter of 2021, related to the impact of increased activity, while bankcard and ATM fees were up $2.4 million, or 13%, from the first quarter of 2021, mainly due to an additional day in the second quarter and improving economic activity.\n<\/p>\n
\nInvestment and annuity income and insurance fees were down $0.1 million, or 2%, linked-quarter. Trust fees were up $1.3 million, or 9% linked-quarter, primarily from annual tax preparation fees and increased activity.\n<\/p>\n
\nFees from secondary mortgage operations totaled $12.6 million for the second quarter of 2021, up $0.8 million, or 7%, linked-quarter, mainly from the impact of a diversification in delivery methods.\n<\/p>\n
\nOther noninterest income totaled $18.2 million, up $2.6 million, or 16%, from the first quarter of 2021. The increase in other noninterest income is primarily due to the gain on the sale of Mastercard stock, noted above.\n<\/p>\n
Noninterest Expense & Taxes<\/b><\/p>\n
\nNoninterest expense totaled $236.8 million, up $43.7 million, or 23% linked-quarter. As noted last quarter, our focus on expense control in light of the current environment was enhanced, with initiatives put in place to improve overall efficiency. These initiatives included closing financial centers, offering an early retirement package to a select group of employees and reducing headcount via attrition. Also included in nonoperating expenses are the impact of the planned October 2021 closure of an additional 18 financial centers and the elimination of 200 positions companywide (reduction in force). Excluding these items, operating expense was down $1.3 million, or 1%, linked-quarter.\n<\/p>\n
\nPersonnel expense totaled $142.7 million in the second quarter of 2021, up $23.0 million, or 19%, from the first quarter of 2021. This total includes $25.3 million in nonoperating items associated with expense initiatives noted above. Excluding the nonoperating items, personnel expense was down $2.3 million, or 2%, linked-quarter. mainly related to the savings associated with the voluntary early retirement program.\n<\/p>\n
\nOccupancy and equipment expense totaled $17.3 million in the second quarter of 2021, down $0.3 million, or 2%, from the first quarter of 2021. Amortization of intangibles totaled $4.2 million for the second quarter of 2021, down $0.2 million, or 4%, linked-quarter.\n<\/p>\n
\nGains on sales of ORE and other foreclosed assets exceeded expenses by $0.1 million in the second quarter of 2021, compared to an expense of virtually zero in the first quarter of 2021.\n<\/p>\n
\nOther expense totaled $72.6 million in the second quarter of 2021, up $21.3 million, or 41%, linked-quarter. Included in the total was $19.6 million of nonoperating items, mostly related to the efficiency initiative expenses noted above.\n<\/p>\n
\nThe effective income tax rate for second quarter 2021 was 19%. The effective income tax rate continues to be less than the statutory rate due primarily to tax-exempt income and tax credits.\n<\/p>\n
Capital<\/b><\/p>\n
\nCommon stockholders\u2019 equity at June 30, 2021 totaled $3.6 billion, up $146 million, or 4%, from March 31, 2021. The tangible common equity (TCE) ratio was 7.70%, up 44 bps from March 31, 2021, mainly the result of earnings and increased OCI, partially offset by dividends. The company remains well capitalized, with both bank and holding company capital levels in excess of required regulatory minimums. The company\u2019s CET1 ratio is estimated to be 10.98% at June 30, 2021.\n<\/p>\n
Conference Call and Slide Presentation<\/b><\/p>\n
\nManagement will host a conference call for analysts and investors at 4:00 p.m. Central Time on Tuesday, July 20, 2021 to review the results. A live listen-only webcast of the call will be available under the Investor Relations section of Hancock Whitney\u2019s website at investors.hancockwhitney.com. A link to the release with additional financial tables, and a link to a slide presentation related to second quarter results are also posted as part of the webcast link. To participate in the Q&A portion of the call, dial 866-270-1533 or 412-317-0797.\n<\/p>\n
\nAn audio archive of the conference call will be available under the Investor Relations section of our website. A replay of the call will also be available through July 25, 2021 by dialing 877-344-7529 or 412-317-0088, access code 10157723.\n<\/p>\n
About Hancock Whitney <\/b><\/p>\n
\nSince the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. BauerFinancial, Inc., the nation\u2019s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America\u2019s most financially sound banks. More information is available at www.hancockwhitney.com<\/a>.\n<\/p>\nNon-GAAP Financial Measures <\/b><\/p>\n
\nThis news release includes non-GAAP financial measures to describe Hancock Whitney\u2019s performance. These non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently. The reconciliations of those measures to GAAP measures are provided either in the financial tables or in Appendix A thereto.\n<\/p>\n
\nConsistent with the provisions of subpart 229.1400 of the Securities and Exchange Commission\u2019s Regulation S-K, \u201cDisclosures by Bank and Savings and Loan Registrants,\u201d the company presents net interest income, net interest margin and efficiency ratios on a fully taxable equivalent (\u201cTE\u201d) basis. The TE basis adjusts for the tax-favored status of net interest income from certain loans and investments using the statutory federal tax rate to increase tax-exempt interest income to a taxable equivalent basis. The company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.\n<\/p>\n
\nThe company presents certain additional non-GAAP financial measures to assist the reader with a better understanding of the company\u2019s performance period over period, as well as to provide investors with assistance in understanding the success management has experienced in executing its strategic initiatives. These non-GAAP measures may reference the concept \u201coperating.\u201d The company uses the term \u201coperating\u201d to describe a financial measure that excludes income or expense considered to be nonoperating in nature. Items identified as nonoperating are those that, when excluded from a reported financial measure, provide management or the reader with a measure that may be more indicative of forward-looking trends in the company\u2019s business.\n<\/p>\n
Important Cautionary Statement about Forward-Looking Statements<\/b><\/p>\n
\nThis news release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements that we may make include statements regarding our expectations of our performance and financial condition, balance sheet and revenue growth, the provision for credit losses, loan growth expectations, management\u2019s predictions about charge-offs for loans, the impact of the COVID-19 pandemic on the economy and our operations, the adequacy of our enterprise risk management framework, the impact of future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, success of revenue-generating initiatives, the effectiveness of derivative financial instruments and hedging activities to manage risks, projected tax rates, increased cybersecurity risks, including potential business disruptions or financial losses, the adequacy of our internal controls over financial reporting, the financial impact of regulatory requirements and tax reform legislation, the impact of the change in the referenced rate reform, deposit trends, credit quality trends, the impact of PPP loans and forgiveness on our results, changes in interest rates, inflation, net interest margin trends, future expense levels (including the impact of the Voluntary Employee Retirement Program), future profitability, improvements in expense to revenue (efficiency) ratio, purchase accounting impacts, accretion levels and expected returns.\n<\/p>\n
\nGiven the many unknowns and risks being heavily weighted to the downside, our forward-looking statements are subject to the risk that conditions will be substantially different than we are currently expecting. If efforts to contain and inoculate our population against COVID-19, and other variants thereof, are unsuccessful and restrictions on movement are imposed, the economic impact could continue to be substantial. The COVID-19 outbreak and its consequences, including responsive measures to manage it, have had and are likely to continue to have an adverse effect, possibly materially, on our business and financial performance by adversely affecting, possibly materially, the demand and profitability of our products and services, the valuation of assets and our ability to meet the needs of our customers.\n<\/p>\n
\nIn addition, any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words \u201cbelieves,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cestimates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cforecast,\u201d \u201cgoals,\u201d \u201ctargets,\u201d \u201cinitiatives,\u201d \u201cfocus,\u201d \u201cpotentially,\u201d \u201cprobably,\u201d \u201cprojects,\u201d \u201coutlook,\u201d or similar expressions or future conditional verbs such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d and \u201ccould.\u201d Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. Forward-looking statements are subject to significant risks and uncertainties. Any forward-looking statement made in this release is subject to the safe harbor protections set forth in the Private Securities Litigation Reform Act of 1995. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, \u201cItem 1A. Risk Factors\u201d in our Annual Report on Form 10-K for the year ended December 31, 2020 and in other periodic reports that we file with the SEC.\n<\/p>\n
\n\nHANCOCK WHITNEY CORPORATION<\/b><\/td>\n<\/tr>\n\nFINANCIAL HIGHLIGHTS<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \nThree Months Ended<\/b><\/td>\n | | \nSix Months Ended<\/b><\/td>\n<\/tr>\n\n| (dollars and common share data in thousands, except per share amounts)<\/i><\/td>\n | | \n6\/30\/2021<\/b><\/td>\n | | \n3\/31\/2021<\/b><\/td>\n | | \n6\/30\/2020<\/b><\/td>\n | | \n6\/30\/2021<\/b><\/td>\n | | \n6\/30\/2020<\/b><\/td>\n<\/tr>\n\n| NET INCOME<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net interest income<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 234,643<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n234,587\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n237,866\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 469,230<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n469,054\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net interest income (TE) (a)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 237,497<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n237,509\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n241,114\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 475,006<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n475,750\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Provision for credit losses<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (17,229<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(4,911\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n306,898\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n (22,140<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n553,691\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Noninterest income<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 94,272<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n87,089\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n73,943\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 181,361<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n158,330\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Noninterest expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 236,770<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n193,072\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n196,539\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 429,842<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n399,874\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense (benefit)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 20,656<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,343\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(74,556\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 46,999<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(98,076\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income (loss)<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 88,718<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n107,172\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(117,072\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 195,890<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(228,105\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| For informational purposes – included above, pre-tax<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Nonoperating item included in noninterest income:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Gain on sale of Mastercard Class B common stock<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2,800<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2,800<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Nonoperating items included in noninterest expense:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Efficiency initiatives<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 40,812<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 40,812<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss on redemption of subordinated notes<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 4,165<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 4,165<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Provision for credit loss associated with energy loan sale<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \u2014<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n160,101\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \u2014<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n160,101\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| PERIOD-END BALANCE SHEET DATA<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Loans<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 21,148,530<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n21,664,859\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,628,377\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 21,148,530<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,628,377\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Securities<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 8,633,133<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,005,990\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,381,803\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 8,633,133<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,381,803\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Earning assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 32,075,450<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n32,134,637\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n30,134,790\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 32,075,450<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n30,134,790\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 35,098,709<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n35,072,643\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n33,215,400\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 35,098,709<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n33,215,400\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Noninterest-bearing deposits<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 13,406,385<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n13,174,911\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,759,085\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 13,406,385<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,759,085\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total deposits<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 29,273,107<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n29,210,520\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,322,268\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 29,273,107<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,322,268\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Common stockholders’ equity<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,562,901<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,416,903\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,316,157\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,562,901<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,316,157\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| AVERAGE BALANCE SHEET DATA<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Loans<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 21,388,814<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n21,745,298\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,957,032\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 21,566,071<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,095,524\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Securities (b)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 8,194,812<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,468,541\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,129,616\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 7,833,682<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,139,524\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Earning assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 32,195,515<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,015,637\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n30,013,829\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 31,608,834<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,822,240\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 35,165,684<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n34,078,200\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n33,136,706\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 34,624,947<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,900,154\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Noninterest-bearing deposits<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 13,237,796<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12,374,235\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,989,921\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 12,808,401<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,876,640\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total deposits<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 29,228,809<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,138,763\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,702,622\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 28,686,797<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n25,514,932\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Common stockholders’ equity<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,488,592<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,441,466\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,465,617\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,465,159<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,487,672\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| COMMON SHARE DATA<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Earnings (loss) per share – diluted<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 1.00<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1.21\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1.36\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2.20<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(2.64\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash dividends per share<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.27<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.27\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.27\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.54<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.54\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Book value per share (period-end)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 41.03<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n39.38\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n38.41\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 41.03<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n38.41\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Tangible book value per share (period-end)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 30.27<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28.57\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27.38\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 30.27<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27.38\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Weighted average number of shares – diluted<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 86,990<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86,805\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86,301\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 86,932<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86,744\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Period-end number of shares<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 86,847<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86,777\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86,342\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 86,847<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86,342\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Market data<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| High sales price<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 50.69<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n47.37\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n28.50\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 50.69<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n44.24\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Low sales price<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 40.25<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n32.52\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14.88\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 32.52<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14.32\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Period-end closing price<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 44.44<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n42.01\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n21.20\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 44.44<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n21.20\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Trading volume<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 25,570<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,963\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n48,174\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 54,533<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n98,564\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| PERFORMANCE RATIOS<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Return on average assets<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 1.01<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1.28\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1.42\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 1.14<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1.44\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Return on average common equity<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 10.20<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12.63\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(13.59\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 11.40<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(13.15\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Return on average tangible common equity<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 13.94<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n17.38\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(18.75\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 15.63<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(18.13\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Tangible common equity ratio (c)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 7.70<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7.26\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7.33\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 7.70<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7.33\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net interest margin (TE)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2.96<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.09\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.23\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3.02<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.31\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Noninterest income as a percent of total revenue (TE)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 28.41<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26.83\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n23.47\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 27.63<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n24.97\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Efficiency ratio (d)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 57.01<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n58.12\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n60.74\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 57.56<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n61.41\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Average loan\/deposit ratio<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 73.18<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n77.28\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n85.97\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 75.18<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n86.60\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Allowance for loan losses as a percentage of period-end loans<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 1.89<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1.96\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1.96\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 1.89<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1.96\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Allowance for credit losses as a percent of period-end loans (e)<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2.03<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.11\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.12\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2.03<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2.12\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Annualized net charge-offs to average loans<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.20<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.34\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5.30\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 0.27<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.15\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Allowance for loan losses to nonperforming loans + accruing loans 90 days past due<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 415.00<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n354.09\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n222.37\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 415.00<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n222.37\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| FTE headcount<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,626<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,926\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,196\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 3,626<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,196\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n | | | | | |
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20210720006084\/en\/1017051\/3\/HW_Logos_FINAL_Full_Color.jpg\")
<\/td>\n<\/tr>\n