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Bancorpsouth Inc (BXS) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2016

Bancorpsouth Inc

CIK: 701853 Ticker: BXS

Exhibit 99.1

News Release

 

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Contact:  

William L. Prater

 

Will Fisackerly

Senior Executive Vice President and

 

Senior Vice President and

  Chief Financial Officer

    Director of Corporate Finance

662/680-2536

 

662/680-2475

 

BancorpSouth Announces Third Quarter 2016 Financial Results

TUPELO, MS, October 19, 2016/PRNewswire — BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter ended September 30, 2016.

Highlights for the third quarter of 2016 included:

 

   

Net income of $37.8 million, or $0.40 per diluted share.

 

   

Generated deposit growth of $225.7 million, or 7.9 percent on an annualized basis, and net loan growth of $82.8 million, or 3.1 percent on an annualized basis.

 

   

Earnings benefitted from a positive mortgage servicing rights (“MSR”) valuation adjustment of $1.8 million.

 

   

Net operating income – excluding MSR – of $36.7 million, or $0.39 per diluted share.

 

   

Credit quality remained stable; no recorded provision for credit losses for the quarter.

 

   

Total non-interest expense of $129.5 million essentially flat compared to the second quarter; operating efficiency ratio – excluding MSR – remained below 70 percent for the third consecutive quarter.

 

   

Repurchased 551,519 shares of outstanding common stock at a weighted average price of $23.80.

 

   

On October 14, 2016, the Company announced an extension of its merger agreements with Central Community Corporation and Ouachita Bancshares Corp. until December 31, 2017.

The Company reported net income of $37.8 million, or $0.40 per diluted share, for the third quarter of 2016 compared with net income of $34.3 million, or $0.36 per diluted share, for the

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


The following information was filed by Bancorpsouth Inc (BXS) on Thursday, October 20, 2016 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-Q Quarterly 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-Q Quarterly 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 Operations
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 (tables)
Basis Of Financial Statement Presentation And Principles Of Consolidation
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (details)
Comprehensive Income
Comprehensive Income (details)
Comprehensive Income (tables)
Derivative Instruments And Offsetting Assets And Liabilities
Derivative Instruments And Offsetting Assets And Liabilities (narrative) (details)
Derivative Instruments And Offsetting Assets And Liabilities (offsetting Of Derivative Assets And Liabilities) (details)
Derivative Instruments And Offsetting Assets And Liabilities (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 (carrying Amounts Of Goodwill) (details)
Goodwill And Other Intangible Assets (estimated Future Amortization Expense) (details)
Goodwill And Other Intangible Assets (future Estimated Amortization Expense) (details)
Goodwill And Other Intangible Assets (identifiable Intangible Assets) (details)
Goodwill And Other Intangible Assets (tables)
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, Net Of Unearned Income, By Segment And Class) (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 Loans And Leases) (details)
Loans And Leases (tables)
Loans And Leases (troubled Debt Restructurings) (details)
Long-term Debt
Long-term Debt (details)
Mortgage Servicing Rights
Mortgage Servicing Rights (activity In Class Of Mortgage Servicing Assets) (details)
Mortgage Servicing Rights (data And Assumptions Used In Fair Value Calculation) (details)
Mortgage Servicing Rights (tables)
Other Noninterest Revenue And Expense
Other Noninterest Revenue And Expense (other Noninterest Expense) (details)
Other Noninterest Revenue And Expense (other Noninterest Revenue) (details)
Other Noninterest Revenue And Expense (tables)
Other Real Estate Owned
Other Real Estate Owned (activity In Other Real Estate Owned) (details)
Other Real Estate Owned (other Real Estate Owned By Segment And Class) (details)
Other Real Estate Owned (tables)
Pension Benefits
Pension Benefits (details)
Pension Benefits (tables)
Per Share Data
Per Share Data (details)
Per Share Data (tables)
Recent Pronouncements
Securities
Securities (amortized Cost And Estimated Fair Value Of Available-for-sale Securities By Contractual Maturity) (details)
Securities (amortized Cost And Estimated Fair Values Of Available-for-sale Securities) (details)
Securities (tables)
Securities (temporarily Impaired Available-for-sale Securities With Continuous Unrealized Loss Positions) (details)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Ticker: BXS
CIK: 701853
Form Type: 10-Q Quarterly Report
Accession Number: 0000701853-16-000034
Submitted to the SEC: Mon Nov 07 2016 11:36:16 AM EST
Accepted by the SEC: Mon Nov 07 2016
Period: Friday, September 30, 2016
Industry: State Commercial Banks

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