Hancock Whitney Corporation (NASDAQ:HWC) Q3 2020 Earnings Conference Call - Final Transcript
Oct 20, 2020 • 05:00 pm ET
Michael M. Achary
a lower level of expense this quarter with incentive pay and payroll taxes, both down.
During the third quarter, we also saw an overall decline in head count of 138. Initiatives we implemented during the quarter, such as the closure of our trust offices in New York and New Jersey and a focus on staffing that the higher vacancy and attrition levels. We also announced the consolidation of 12 branch locations in Mississippi and Louisiana in late October. As these expense reduction efforts continue, we expect expenses to be down in the fourth quarter as well.
As John noted, we began rebuilding capital this quarter. Our CET1 ratio was 10.29%, up 51 basis points from June and our total risk-based capital came in just under 13% at quarter end.
With that, I'll turn the call back over to John.
John M. Hairston
Thank you, Mike. And operator let's open the call for questions.