Home » NEWS » Banking & Finance » BancorpSouth's income declines

BancorpSouth's income declines

TUPELO — BancorpSouth’s net income for the third quarter of 2009 was $21.5 million, or $0.26 per diluted share, compared with $28.3 million, or $0.34 per diluted share, for the third quarter of 2008.

Annualized net charge-offs of 0.68 percent of average loans and leases and non-performing loans and leases of 1.14 percent of total loans and leases.

Aubrey Patterson, chairman and CEO of BancorpSouth, said, “BancorpSouth’s third quarter results reflect a strong and stable net interest margin, well controlled expenses and solid operating performance in an otherwise difficult operating environment. The sustained profitable performance of our company throughout this recent economic downturn continues to validate our deliberate and conservative long-term approach in managing through this business cycle. With a strong capital base, high-quality assets and solid banking franchise, we remain confident that we are well positioned to manage through this period and continue operating a business plan that will result in achieving our long-term objectives.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply