Whitney's acquired loan portfolio continued to perform better than expected during the fourth quarter. As a result, re-projections of expected cash flows from both the acquired and covered portfolios led to approximately $4 million of additional loan accretion during the fourth quarter of 2012. The increase favorably impacted both net interest income and the net interest margin. Changes in activity related to prepayments and payoffs in the acquired portfolio can cause quarterly accretion levels to be volatile.As earning assets continue to reprice at lower rates, and with little opportunity to further lower funding costs, management expects continued compression in the core margin in the near term. All else equal, compression in the reported margin in the near term is also anticipated.
Hancock Reports Fourth Quarter 2012 Financial Results
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