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Tag Archives: BancorpSouth

BancorpSouth CFO Prater retiring in March

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William L. “Bill” Prater is retiring early from his post as senior executive vice president, treasurer and chief financial officer at BancorpSouth Inc. The parent company of BancorpSouth Bank said Prater’s decision is effective March 10. The Northeast Mississippi Daily Journal reports Prater has held the posts for nearly eight years and will stay on board in a consulting role ...

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BancorpSouth overdraft settlement credits, checks going out

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By DENNIS SEID Daily Journal TUPELO – Some former and current BancorpSouth customers are receiving either credit to their accounts or checks in their mail. In January, BancorpSouth settled a lawsuit for $24 million involving overdraft fees the bank charged to customers from a period beginning about 2003 to 2010 in the bank’s eight-state territory. In Mississippi, customers who were charged ...

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BancorpSouth net income for third quarter up

  By Jack Weatherly BancorpSouth Inc. reported net income of $37.8 million, or 40 cents per share for the third quarter, compared with net income of $34.3 million, or 36 cents per share a year earlier. Net operating income was $36.7 million, or 39 cents a share, one cent lower than the consensus reported by Zacks. Net operating income for ...

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BancorpSouth extends till end of ’17 effort to buy two banks

  By JACK WEATHERLY BancorpSouth Inc. has reached an agreement to extend to Dec. 31, 2017 an attempt buy two banks, which has been delayed by federal regulatory intervention. The Tupelo-based banking chain announced Friday the third extension of the merger effort that began in January 2014. “We continue to believe these proposed transactions are in the best interest of ...

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BancorpSouth puts 2 planned mergers on hold

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A downgrade of BancorpSouth’s Community Reinvestment Act rating means two mergers have been tabled for the time being. BancorpSouth announced in January 2014 its intent to acquire Ouachita Bancshares Corp. of West Monroe, Louisiana, and Central Community Corp. of Temple, Texas. The merger agreements were valued at a combined $325 million in stock and cash at the time. The Northeast ...

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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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