The parent companies of Hancock Bank and IberiaBank both reported drops in earnings when compared with the second quarter of 2008. Hancock reported $13.7 million in earnings during the second quarter, or 43 cents a share. That’s down from the $20.9 million Hancock earned in the second quarter of 2008. The bank blamed the drop in earnings on more charge-offs for loans, especially those dealing with land development and commercial real estate. Charge-offs went from $7.1 million in the second quarter of 2008 to $16 million this year. Hancock says nine loans accounted for $8.4 million in charge-offs. IberiaBank reported $8.5 million in earnings during the second quarter, or 52 cents per diluted share. That’s compared with the $9.5 million in earnings the bank reported in the second quarter of 2008, or 72 cents per diluted share. Net interest income for the quarter increased to $38.28 million from $32.47 million in the second quarter of 2008.
IberiaBank, Hancock see earnings drop
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