Home » NEWS » Banking & Finance » BancorpSouth closes offering; BancorpSouth Insurance launches app

BancorpSouth closes offering; BancorpSouth Insurance launches app

TUPELO — BancorpSouth Inc. has closed an underwritten public offering of 10,952,381 shares of its common stock at a price to the public of $10.50 per share. The gross proceeds from the offering, before expenses, were $109.3 million.

The proceeds from the offering will be used by the financial institution for general corporate purposes, including to maintain certain capital levels and liquidity at the company, potentially provide equity capital to BancorpSouth Bank, fund growth either organically or through acquisition of other financial institutions, insurance agencies, or other businesses that are closely aligned to the operations of the company, and fund investments in its subsidiaries.

Morgan Stanley & Co. LLC and Stifel, Nicolaus & Company Inc. acted as the joint book-running managers in the offering. Stephens Inc., Keefe, Bruyette & Woods, and Sandler O’Neill + Partners, L.P. served as co-managers for the offering.

In a separate BancorpSouth-related item, BancorpSouth Insurance Services Inc., a division of BancorpSouth Bank, has released its branded BancorpSouth Insurance Services Inc. Mobile app for the iPhone, iPad, iPod Touch and Android.

With this new mobile insurance app, clients can locate an office, contact an agent, report a claim and more.

Markham McKnight, BancorpSouth Insurance president, said, “BancorpSouth Insurance provides clients with a simple way to access information and report a claim any time of the day or night, seven days a week.”


… 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 MBJ Staff

Leave a Reply