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Exhibit 99.1
News Release
Contact: | ||
William L. Prater | Will Fisackerly | |
Senior Executive Vice President and |
Senior Vice President and | |
662/680-2536 | 662/680-2475 |
BancorpSouth Announces Fourth Quarter 2015 Financial Results
TUPELO, MS, January 25, 2016/PRNewswire BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter and year ended December 31, 2015.
Highlights for the fourth quarter of 2015 included:
| Net income of $21.2 million or $0.22 per diluted share. |
| Net operating income of $31.4 million or $0.33 per diluted share. |
| Generated net loan growth of $153.2 million, or 5.9 percent on an annualized basis and deposit growth of $189.2 million, or 6.7 percent on an annualized basis. |
| Net interest margin remained stable at 3.58 percent. |
| Continued stable credit quality resulted in no recorded provision for credit losses for the quarter. |
| Other real estate owned (OREO) declined $8.9 million, or 37.7 percent, as a result of the disposition of several large parcels of property. Related foreclosed property expense was elevated at $3.0 million. |
| Incurred a charge in the fourth quarter of 2015 of $16.5 million related to the settlement of the 2010 class action lawsuit for $24 million related to overdraft fees. |
The Company reported net income of $21.2 million, or $0.22 per diluted share, for the fourth quarter of 2015 compared with net income of $28.7 million, or $0.30 per diluted share, for the fourth quarter of 2014 and net income of $34.3 million, or $0.36 per diluted share, for the third quarter of 2015. Additionally, the Company reported net income of $127.5 million, or $1.33 per diluted share, for the year ended December 31, 2015 compared to $116.8 million, or $1.21 per diluted share, for the year ended December 31, 2014.
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Box 789 Tupelo, MS 38802-0789 (662) 680-2000
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Bancorpsouth Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:
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Ticker: BXS
CIK: 701853
Form Type: 10-K Annual Report
Accession Number: 0000701853-16-000020
Submitted to the SEC: Tue Feb 23 2016 4:26:54 PM EST
Accepted by the SEC: Tue Feb 23 2016
Period: Thursday, December 31, 2015
Industry: State Commercial Banks