HANCOCK WHITNEY CORP Goodwill & Intangibles Disclosure
Note 7. Goodwill and Other Intangible Assets
Goodwill represents the excess of the consideration paid over the fair value of the net assets acquired or the excess of the fair value of the net liabilities assumed over the consideration received in a business combination. The carrying amount of goodwill was $925.4 million at December 31, 2025 and $855.5 million at December 31, 2024. For information regarding changes to the Company’s carrying amount of goodwill and other intangibles, refer to Note 2 – Acquisition.
The Company completed its annual impairment test of goodwill as of September 30, 2025 by performing a qualitative (Step Zero) assessment. The qualitative assessment involved the examination of changes in macroeconomic conditions, industry and market conditions, overall financial performance, cost factors and other relevant entity-specific events, including changes in management and other key personnel and changes in the share price of the Company’s common stock. As a result of the assessment, the Company concluded that its goodwill was not impaired.
No goodwill impairment charges were recognized during the years ended December 31, 2025, 2024 or 2023.
Identifiable intangible assets with finite lives are amortized over the periods benefited and are evaluated for impairment similar to other long-lived assets. The purchase and carrying values of intangible assets subject to amortization at December 31, 2025 and 2024 were as follows:
|
December 31, 2025 |
|
|||||||
|
Purchase |
|
Accumulated |
|
Carrying |
|
|||
($ in thousands) |
Value |
|
Amortization |
|
Value |
|
|||
Core deposit intangibles |
$ |
235,845 |
|
$ |
223,561 |
|
$ |
12,284 |
|
Credit card and trust relationships |
|
80,662 |
|
|
25,875 |
|
|
54,787 |
|
Total |
$ |
316,507 |
|
$ |
249,436 |
|
$ |
67,071 |
|
|
December 31, 2024 |
|
|||||||
|
Purchase |
|
Accumulated |
|
Carrying |
|
|||
($ in thousands) |
Value |
|
Amortization |
|
Value |
|
|||
Core deposit intangibles |
$ |
235,845 |
|
$ |
217,260 |
|
$ |
18,585 |
|
Credit card and trust relationships |
|
49,962 |
|
|
33,323 |
|
|
16,639 |
|
Total |
$ |
285,807 |
|
$ |
250,583 |
|
$ |
35,224 |
|
Aggregate amortization expense by category of finite lived intangible assets for the years ended December 31, 2025, 2024, and 2023 are as follows:
|
Years Ended December 31, |
|
|||||||
($ in thousands) |
2025 |
|
2024 |
|
2023 |
|
|||
Core deposit intangibles |
$ |
6,301 |
|
$ |
7,602 |
|
$ |
9,613 |
|
Credit card and trust relationships |
|
3,652 |
|
|
1,811 |
|
|
1,943 |
|
Total |
$ |
9,953 |
|
$ |
9,413 |
|
$ |
11,556 |
|
At December 31, 2025, the weighted-average remaining life of core deposit intangibles was approximately 8 years, and the weighted-average remaining life of other identifiable intangibles was approximately 20 years.
The following table shows estimated amortization expense of other intangible assets at December 31, 2025 for the succeeding years and all years thereafter, calculated based on current amortization schedules.
($ in thousands) |
|
|
|
2026 |
$ |
8,175 |
|
2027 |
|
6,393 |
|
2028 |
|
5,881 |
|
2029 |
|
5,429 |
|
2030 |
|
5,016 |
|
Thereafter |
|
36,177 |
|
Total |
$ |
67,071 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 26, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.