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
- Molpus closes Fund after more than $662M in commitments
- Realtors chooses Nita Wingard
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- No debate, but Cochran and Childers lobby for votes for Senate
- Entergy agrees to cut $35M from its new rate plan
- Politics of paying for transportation: Hand wringing and a lot of talk
- MSU reminding fans that drones are prohibited at football games
- Kemper County plant will cost at least another $496M to complete
- Ford Foundation gives to UM for new science building