BancorpSouth, Inc. Watches Income Jump by 36% in First Quarter

Thanks to cuts in expenses as well as fewer expected losses, BancorpSouth saw its net income jump from $22 million to $28.4 million in the first quarter.

Apr 21, 2014 at 9:06PM

BancorpSouth (NYSE:BXS) announced its results for the first quarter after the market closed today and it saw its earnings per share jump from $0.22 through the first three months of 2013 to $0.30 per share in 2014.

The regional bank highlighted it saw nearly $111 million in loan growth, which represented an annualized rate of 5%, the fourth quarter in a row in which it added to its total loan count. In addition its deposits grew by almost 1.5%, or $38 million.

BancorpSouth saw its net interest revenue increase from $98.1 million to $101.5 million, but it also saw its provision for credit losses -- what it anticipates it will lose on its loans -- fall from $4 million to $0. As a result, its net interest revenue jumped from $94.1 million to the previously mentioned $101.5 million, an increase of almost 7.5%. Its noninterest revenue was down approximately $5 million as a result of a decline in mortgage lending.

Expenses at the Tupelo, Miss.-headquartered bank fell by $8.6 million or 6.4% to $126.7 million from the first quarter of 2013 to 2014. This, plus its total gain in revenue resulted in its income before taxes rising from $30 million to $41.3 million.

"Our financial results continue to benefit from the daily efforts of our people to grow our Company and to improve operating performance," remarked the CEO of BancorpSouth, Dan Rollins, in the earnings release. "We are also excited about the opportunities presented by the two bank transactions that we announced during the quarter."

In January BancorpSouth announced it would be acquiring Ouachita Independent Bank based out of Monroe, La., and Austin, Texas-based Central Community Corporation. These two banks will add approximately $1.6 billion in deposits to the bank.

"We believe that the financial results for the first quarter and the transaction announcements that we have made reflect progress toward the goals that have been communicated," Rollins concluded. "Additionally, we anticipate that the recent transactions that have been announced, both the bank and the insurance businesses, will provide us with additional resources to achieve our growth goals while also allowing us to better leverage our current operating structure."

Patrick Morris has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

1 Key Step to Get Rich

Our mission at The Motley Fool is to help the world invest better. Whether that’s helping people overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we can help.

Feb 1, 2016 at 4:54PM

To be perfectly clear, this is not a get-rich action that my Foolish colleagues and I came up with. But we wouldn't argue with the approach.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich" rated The Motley Fool as the #1 place online to get smarter about investing.

"The Motley Fool aims to build a strong investment community, which it does by providing a variety of resources: the website, books, a newspaper column, a radio [show], and [newsletters]," wrote (the clearly insightful and talented) money reporter Kathleen Elkins. "This site has something for every type of investor, from basic lessons for beginners to investing commentary on mutual funds, stock sectors, and value for the more advanced."

Our mission at The Motley Fool is to help the world invest better, so it's nice to receive that kind of recognition. It lets us know we're doing our job.

Whether that's helping the entirely uninitiated overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we want to provide our readers with a boost to the next step on their journey to financial independence.

Articles and beyond

As Business Insider wrote, there are a number of resources available from the Fool for investors of all levels and styles.

In addition to the dozens of free articles we publish every day on our website, I want to highlight two must-see spots in your tour of fool.com.

For the beginning investor

Investing can seem like a Big Deal to those who have yet to buy their first stock. Many investment professionals try to infuse the conversation with jargon in order to deter individual investors from tackling it on their own (and to justify their often sky-high fees).

But the individual investor can beat the market. The real secret to investing is that it doesn't take tons of money, endless hours, or super-secret formulas that only experts possess.

That's why we created a best-selling guide that walks investors-to-be through everything they need to know to get started. And because we're so dedicated to our mission, we've made that available for free.

If you're just starting out (or want to help out someone who is), go to www.fool.com/beginners, drop in your email address, and you'll be able to instantly access the quick-read guide ... for free.

For the listener

Whether it's on the stationary exercise bike or during my daily commute, I spend a lot of time going nowhere. But I've found a way to make that time benefit me.

The Motley Fool offers five podcasts that I refer to as "binge-worthy financial information."

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. It's also featured on several dozen radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable ... and I don't say that simply because the hosts all sit within a Nerf-gun shot of my desk. Rule Breaker Investing and Answers contain timeless advice, so you might want to go back to the beginning with those. The other three take their cues from the market, so you'll want to listen to the most recent first. All are available at www.fool.com/podcasts.

But wait, there's more

The book and the podcasts – both free ... both awesome – also come with an ongoing benefit. If you download the book, or if you enter your email address in the magical box at the podcasts page, you'll get ongoing market coverage sent straight to your inbox.

Investor Insights is valuable and enjoyable coverage of everything from macroeconomic events to investing strategies to our analyst's travels around the world to find the next big thing. Also free.

Get the book. Listen to a podcast. Sign up for Investor Insights. I'm not saying that any of those things will make you rich ... but Business Insider seems to think so.


Compare Brokers