R. Maxwell on deposit costs
From Home and insurance costs are hurting consumers more than rates, says Hancock Whitney CEO · · CNBC Television
“As we see the deposit cost mitigate a little bit this third quarter, I think we're beginning to see compression ease and the beginning signs of stabilization.”
On , R. Maxwell, Vice President & Senior Communications Officer at HANCOCK WHITNEY CORP, spoke about deposit costs during Home and insurance costs are hurting consumers more than rates, says Hancock Whitney CEO on CNBC Television.
About R. Maxwell
R. Maxwell, Vice President and Senior Communications Officer at Hancock Whitney, has been associated with the bank's public commentary on economic conditions. In a September 2024 interview, Hancock Whitney President and CEO John Hairston discussed the bank's performance and consumer trends. Hairston stated that the bank has been in business for 29 years and described the current economic cycle as "just another cycle." He noted that the bank saw a large inflow of deposits during the pandemic, with 50% of deposits in checking accounts at one point, and observed that deposit costs began to ease in the third quarter, suggesting "the beginning signs of stabilization." Hairston also commented on consumer behavior, saying there has been a "dramatic downturn in the amount of big ticket purchases" as average account balances move toward pre-pandemic norms. He attributed the primary pressure on consumers to housing costs, stating that "costs have gone up tremendously, and there's a lack of affordable housing in the country."