The board of Gulfport, Miss.-based Hancock Whitney Corp. increased and extended the company's common stock buyback program.
The board originally approved in May 2018 the repurchase of up to 5% of outstanding shares, or about 4.3 million shares of the company, through Dec. 31, 2019.
The board raised the repurchase authorization to 5.5 million shares, worth about $212 million based on the Sept. 23 closing price, and moved the expiration date to Dec. 31, 2020.
The shares may be bought in the open market, by block purchase, through accelerated share repurchase plans, in privately negotiated deals or in one or more transactions from time to time, depending on the market conditions and other factors and in accordance with applicable rules of the Securities and Exchange Commission.
Hancock Whitney completed the acquisition of MidSouth Bancorp Inc. and unit MidSouth Bank NA on Sept. 21.
