Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Mississippi-based bank BancorpSouth
So what: At $0.13, BancorpSouth's earnings per share actually came in ahead of the Wall Street estimate of $0.05. However, the bank would have missed estimates without a $9.8 million income tax benefit. Likely even more concerning to investors, though, was the deterioration of BancorpSouth's loan portfolio. Charge-offs were up slightly from last quarter and triple what they were this time last year. Non-performing assets now account for 5.2% of net loans and leases. Total non-performing assets were up 33% from last quarter and nearly 200% from last year.
Now what: BancorpSouth isn't alone. Alabama neighbor Regions Financial
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