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Tag Archives: BancorpSouth

BancorpSouth earnings dip but bank says settlement not a factor

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By JACK WEATHERLY BancorpSouth’s earnings dipped in the second quarter, but that had nothing to do with the lender’s $10.6 million fine for redlining certain minority neighborhoods of Memphis, it said in a release issued Wednesday night. Net income for the quarter ending June 30 was $34.7 million, or 37 cents per share, compared with $39.7 million, or 41 cents ...

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Regulators went undercover to gather evidence against BancorpSouth

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By TED CARTER Banking experts see the U.S. Consumer Financial Protection Bureau’s $10.6 million settlement with Tupelo’s BancorpSouth over alleged redlining as a sign financial services companies nationwide can expect the Bureau to more frequently use federal lending and housing laws to fight racial discrimination. That fight is also likely to include more use of undercover operatives such as the “mystery ...

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Regulators fine BancorpSouth $10.6 million for redlining

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The Department of Justice and the Consumer Financial Protection Bureau fined Mississippi-based BancorpSouth $10.6 million, alleging the bank deliberately discriminated against minorities in its lending practices. BancorpSouth, a medium-sized regional bank with $10.6 billion in assets, deliberately avoided building branches in minority neighborhoods in Memphis from at least 2011 to 2013. The bank also denied loans to African-Americans and other ...

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New homes in Fondren ahead for BancorpSouth, Wier Boerner Allin architects

BancorpSouth’s new Fondren building will allow the bank to expand its business lines.

By TED CARTER BancorpSouth has begun a long-planned expansion of its Fondren office at 2710 N. State St., joining a host of other nearby property owners who are either renovating buildings or constructing new ones. Over last weekend, work crews moved the banking operation into the former Sun Gallery building to the north to make way for demolition of the current ...

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Regions, Trustmark in annual rivalry for Mississippi’s deposits

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By TED CARTER Nearly one out of every three Mississippians park their money at either Regions Bank or Trustmark National Bank, a trend that goes back more than 10 years, FDIC figures show. Together, the two banks accounted for about $14 billion of the state’s total bank deposits of $49.6 billion from June 30, 2014 through June 30 of this year. ...

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BANKERS READY TO BUILD — 200 volunteers from 9 financial institutions to work together at Habitat house

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By LISA MONTI  Nine Jackson area financial institutions will join together for the first time as a team to build a Habitat for Humanity Mississippi Capital Area home in a south Jackson neighborhood. The banks all have supported Habitat by building houses, sponsoring events and serving on boards and committees, but this year’s build will be the first time employees ...

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BancorpSouth Q2 earnings highest since 2008

  Daily Journal TUPELO – BancorpSouth Inc. notched its most profitable quarter in seven years, posting second-quarter earnings of $39.7 million, or 41 cents a share. The results were 6 cents higher than consensus estimates, but revenue of $181.62M, while 5 percent better than a year ago, missed estimates by $1.73 million. Still, the EPS for the quarter ended June ...

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BancorpSouth’s stalled acquisitions may signal new hurdles to bank M&A nationally

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  By TED CARTER Bankers nationwide worry that regulators have significantly raised the bar for merger-and-acquisition approvals after regulatory snags caused back-to-back delays in BancorpSouth’s acquisitions of banks in Louisiana and Texas. The Wall Street Journal noted in its MoneyBeat column July 1 that while the two deals are relatively small, “the delay is notable because it may play into bankers’ ...

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BancorpSouth delays acquisitions yet again; Renasant completes Heritage takeover

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Regulatory snags have once again delayed Tupelo’s BancorpSouth Inc. acquisitions of Ouachita Bancshares Corp. of Monrore, La.,  and Central Community Corp. of Temple, Tex. Meanwhile, Tupelo’s Renasant Bank has completed its takeover of  Heritage Financial Group Inc., a bank holding company headquartered in Albany, Ga. and the parent of the $1.9 billion HeritageBank of the South, a Georgia savings bank. ...

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Regions only one of several lenders in trouble over overdraft fees

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By TED CARTER  Regions Bank is paying tens of millions in reimbursements and a fine of $7.5 million after its executives ignored a warning two years ago that its overdraft practices could be illegal. The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act brought new scrutiny to bank overdraft practices across the country. Until the federal law ordered banks ...

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