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Tag Archives: BancorpSouth

BancorpSouth moving closer to $20B with two more mergers

By DENNIS SEID / Daily Journal TUPELO • BancorpSouth Bank is getting closer to becoming a $20 billion bank, announcing Wednesday it was expanding its presence in Texas and Florida. The Tupelo-based bank said it was acquiring Van Alstyne Financial Corp., the parent company of Texas Star Bank, and Summit Financial Enterprises Inc., the parent company of Summit Bank. The ...

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BancorpSouth promotes Telford Lindsay and Jennifer Morgan

BancorpSouth Bank recently announced the promotions of Telford Lindsay to first vice president and Jennifer Morgan to bank officer in BancorpSouth Equipment Finance and Leasing, which provides equipment financing for commercial markets and municipalities across the Southeast and parts of the Midwest. Lindsay joined BancorpSouth Equipment Finance in 2014 and most recently served as vice president. He is responsible for ...

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BancorpSouth CFO Prater retiring in March

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

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

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

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

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

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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