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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Mad Genius, Eyevox owner acquires Mississippi Film Studios
- Payday lender, fired executive exchanging blame for lender’s regulatory woes
- UMMC reaching out after death of high school football player
- McDaniel files legal arguments as he looks to overturn Cochran loss
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Fitch gives Mississippi Power a negative outlook due to Kemper plant
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Mississippi River mayors announce 'seed money' for waterfront developments
- Payday lender expects clean bill from regulators