WHITNEY HOLDING CORPORATION
228 ST. CHARLES AVENUE
NEW ORLEANS, LA  70130
www.whitneybank.com

NEWS RELEASE

CONTACT:
Thomas L. Callicutt, Jr., CFO
 
FOR IMMEDIATE RELEASE
 
Trisha Voltz Carlson, Investor Relations
 
July 27, 2010
 
504/299-5208
   
 
tcarlson@whitneybank.com
   

WHITNEY REPORTS SECOND QUARTER 2010 FINANCIAL RESULTS

New Orleans, 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.
"We are 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.

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