BancorpSouth’s profits rise after cutting costs, bad loans
Published: October 23,2013
TUPELO — Regional bank BancorpSouth Corp. cut costs and bad loans in 2013’s third quarter, as profit increased by 4 percent from the same three months of 2012.
BancorpSouth posted quarterly profit of $24.9 million, or 26 cents per share yesterday. That’s up from $23.8 million or 25 cents per share in 2012’s third quarter.
Analysts polled by FactSet had estimated 27 cents per share, on average.
The company says it increased loans and net interest income for the second quarter in a row, while it benefited from reduced costs after an employee buyout. However, noninterest revenue fell as mortgage refinancing fees declined sharply.
Based in Tupelo, the $12.9 billion bank has offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Warden who lives hundreds of miles from jail resigns
- Prison-contract task force working in wake of Epps' indictment
- Bryant wants free tuition for students with technical diploma
- Analyst: KiOR Columbus plant may end up sold as scrap
- BankPlus recognized for alternative program to payday lending
- Investigators find massive Ag Museum fire was an accident
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- Jail kitchen supervisor pleads guilty to stealing food