REPORTS SECOND QUARTER 2010 FINANCIAL RESULTS
Louisiana. Whitney Holding Corporation (NASDAQ—WTNY) (the
“Company”) reported a net loss of $18.0 million for the second quarter of 2010
compared to net losses of $6.3 million and $21.3 million, respectively, in the
first quarter of 2010 and in the second quarter of 2009. Including
the $4.1 million dividend paid each quarter to the U.S. Treasury on the
preferred stock issued under TARP, the loss per diluted common share was $.23
for the second quarter of 2010, $.11 for the first quarter of 2010 and $.38 for
the second quarter of 2009.
disappointed that the economy remained sluggish during the second quarter and
did not show the signs of improvement we were expecting," said John C. Hope,
III, Chairman and CEO. "It has become increasingly difficult to predict
the timing of a solid economic recovery, and this, coupled with the impact the
Gulf oil spill appears to be having on business activity in our markets, has
tempered our optimism for the remainder of 2010. The continued good
performance from our core businesses, and the traction we are gaining as we
implement the initiatives in our Strategic Plan, are being overshadowed by the
impact of current economic conditions on our credit metrics. However,
our long-term earnings capacity, the underlying strengths of our franchise and
our capital position all remain strong."
The following information was filed by Whitney Holding Corp (WTNY) on Tuesday, July 27, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Whitney Holding Corp's financial trajectory
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Ticker: WTNY CIK: 106926 Form Type:10-Q Quarterly Report Accession Number: 0000106926-10-000067 Submitted to the SEC: Mon Aug 09 2010 5:02:33 PM EST Accepted by the SEC: Mon Aug 09 2010 Period: Wednesday, June 30, 2010 Industry: National Commercial Banks