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Bancorpsouth Inc (BXS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Bancorpsouth Inc

CIK: 701853 Ticker: BXS

Exhibit 99.1

News Release

 

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Contact:     
William L. Prater      Will Fisackerly
Treasurer and      Senior Vice President and
Chief Financial Officer      Director of Corporate Finance
662/680-2536      662/680-2475

BancorpSouth Announces Fourth Quarter 2013 Earnings of

$27.7 Million or $0.29 per Diluted Share

TUPELO, Miss., January 22, 2014/PRNewswire — BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter and year ended December 31, 2013.

Highlights for the fourth quarter of 2013 included:

 

    Net income of $27.7 million or $0.29 per diluted share.

 

    Acquired Houston, Texas based Gem Insurance Agencies, LP (“GEM”), which is expected to produce annual insurance commission revenues of approximately $9 million.

 

    Generated net loan growth of $184.9 million, or 8.4 percent annualized, which represents the third consecutive quarter of net loan growth.

 

    The net interest margin increased to 3.52 percent for the fourth quarter of 2013 from 3.45 percent for the third quarter of 2013, benefitting from continued reduced funding costs as well as net loan growth.

 

    Non-performing loans and leases (“NPLs”) declined $23.9 million, or 16.6 percent, compared to the third quarter of 2013, while non-performing assets (“NPAs”) decreased $31.4 million, or 14.2 percent, over the same period.

The Company reported net income of $27.7 million, or $0.29 per diluted share, for the fourth quarter of 2013 compared with net income of $17.0 million, or $0.18 per diluted share, for the fourth quarter of 2012 and net income of $24.9 million, or $0.26 per diluted share, for the third quarter of 2013. Additionally, the Company reported total net income of $94.1 million, or $0.99 per diluted share, for the year ended December 31, 2013 compared to $84.3 million, or $0.90 per diluted share, for the year ended December 31, 2012.

“Our results for the fourth quarter are reflective of the commitment that we have made to grow our Company,” remarked Dan Rollins, Chief Executive Officer. “We are pleased to report net

 

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BancorpSouth, Inc.

Box 789 Tupelo, MS 38802-0789 (662) 680-2000


The following information was filed by Bancorpsouth Inc (BXS) on Thursday, January 23, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Allowance For Credit Losses
Allowance For Credit Losses (allowance For Credit Losses By Segment, Class And Impairment Status) (details)
Allowance For Credit Losses (changes In The Allowance For Credit Losses By Segment And Class) (details)
Allowance For Credit Losses (summary Of Changes In The Allowance For Credit Losses) (details)
Allowance For Credit Losses (tables)
Available-for-sale Securities
Available-for-sale Securities (details)
Available-for-sale Securities (tables)
Business Combinations
Business Combinations (details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (details)
Commitments And Contingent Liabilities (tables)
Condensed Parent Company Information
Condensed Parent Company Information (details)
Condensed Parent Company Information (tables)
Correction Of Immaterial Error
Correction Of Immaterial Error (details)
Correction Of Immaterial Error (tables)
Derivative Instruments
Derivative Instruments (details)
Derivative Instruments (offsetting Of Derivative Assets And Liabilities) (details)
Derivative Instruments (tables)
Earnings Per Share And Dividend Data
Earnings Per Share And Dividend Data (details)
Earnings Per Share And Dividend Data (tables)
Fair Value Disclosures
Fair Value Disclosures (assets And Liabilities Measured At Fair Value On A Nonrecurring Basis) (details)
Fair Value Disclosures (assets And Liabilities Measured At Fair Value On A Recurring Basis) (details)
Fair Value Disclosures (carrying And Fair Value Information) (details)
Fair Value Disclosures (changes In Level Three Assets And Liabilities Measured At Fair Value On A Recurring Basis) (details)
Fair Value Disclosures (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (aggregate Amortization Expense) (details)
Goodwill And Other Intangible Assets (carrying Amounts Of Goodwill) (details)
Goodwill And Other Intangible Assets (estimated Future Amortization Expense) (details)
Goodwill And Other Intangible Assets (identifiable Intangible Assets) (details)
Goodwill And Other Intangible Assets (tables)
Held-to-maturity Securities
Held-to-maturity Securities (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Junior Subordinated Debt Securities
Junior Subordinated Debt Securities 2013 (details)
Loans And Leases
Loans And Leases (aging Of Loan And Lease Portfolio, Net Of Unearned Income, By Segment And Class) (details)
Loans And Leases (gross Loans And Leases By Segment And Class) (details)
Loans And Leases (impaired Loans And Leases) (details)
Loans And Leases (loan And Lease Portfolio, Net Of Unearned Income, By Segment, Class And Internally Assigned Grade) (details)
Loans And Leases (loans And Leases, Net Of Unearned Income By Segment, Class And Geographical Location) (details)
Loans And Leases (non-performing And Nonaccrual Loans And Leases) (details)
Loans And Leases (tables)
Loans And Leases (troubled Debt Restructurings) (details)
Long-term Debt
Long-term Debt (fhlb Fixed Term Advances, Repayment Summary) (details)
Long-term Debt (narrative) (details)
Long-term Debt (tables)
Mortgage Servicing Rights
Mortgage Servicing Rights (details)
Mortgage Servicing Rights (tables)
Other Comprehensive Income
Other Comprehensive Income (details)
Other Comprehensive Income (tables)
Other Noninterest Income And Expense
Other Noninterest Income And Expense (tables)
Other Noninterest Revenue And Expense (details)
Other Real Estate Owned
Other Real Estate Owned (details)
Other Real Estate Owned (tables)
Pension, Other Post Retirement Benefit And Profit Sharing Plans
Pension, Other Post Retirement Benefit And Profit Sharing Plans (defined Contribution Plan) (details)
Pension, Other Post Retirement Benefit And Profit Sharing Plans (details)
Pension, Other Post Retirement Benefit And Profit Sharing Plans (information About Plan Assets) (details)
Pension, Other Post Retirement Benefit And Profit Sharing Plans (tables)
Premises And Equipment
Premises And Equipment (details)
Premises And Equipment (tables)
Regulatory Matters
Regulatory Matters (details)
Regulatory Matters (tables)
Related Party Transactions
Related Party Transactions (details)
Related Party Transactions (tables)
Segment Reporting (details)
Segments
Segments (tables)
Stock Incentive And Stock Option Plans
Stock Incentive And Stock Option Plans (details)
Stock Incentive And Stock Option Plans (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policy)
Time Deposits And Short-term Debt
Time Deposits And Short-term Debt (details)
Time Deposits And Short-term Debt (tables)
Ticker: BXS
CIK: 701853
Form Type: 10-K Annual Report
Accession Number: 0000701853-14-000003
Submitted to the SEC: Tue Feb 25 2014 2:23:22 PM EST
Accepted by the SEC: Tue Feb 25 2014
Period: Tuesday, December 31, 2013
Industry: State Commercial Banks

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