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Bancorpsouth Inc (BXS) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

Bancorpsouth Inc

CIK: 701853 Ticker: BXS

Exhibit 99.1

News Release

 

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Contact:   

John G. Copeland

Senior Executive Vice President and

    Chief Financial Officer

662/680-2536

  

Will Fisackerly

Senior Vice President and

    Director of Corporate Finance

662/680-2475

BancorpSouth Announces Third Quarter 2017 Financial Results

TUPELO, MS, October 18, 2017/PRNewswire — BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter ended September 30, 2017.

Highlights for the third quarter of 2017 included:

 

    Net income of $39.5 million, or $0.43 per diluted share.

 

    Net operating income – excluding MSR – of $39.6 million, or $0.43 per diluted share.

 

    Net interest margin increased to 3.58 percent.

 

    Credit quality remained strong; recorded provision for credit losses of $0.5 million for the quarter.

 

    Total operating expense declined compared to the second quarter of 2017 and the third quarter of 2016 and operating efficiency ratio – excluding MSR – improved to 67.2 percent.

 

    Repurchased 699,888 shares of outstanding common stock at a weighted average price of $28.99 per share.

 

    Announced a corporate entity restructuring, whereby the holding company structure will be eliminated through the merger of BancorpSouth, Inc. with and into its wholly owned subsidiary, BancorpSouth Bank (the “Bank”) with the Bank continuing as the surviving entity (the “Reorganization”).

 

    On October 6, 2017, the Bank received results from the Federal Deposit Insurance Corporation (the “FDIC”) 2017 Community Reinvestment Act (“CRA”) examination, which reflected an overall CRA rating of “Satisfactory”.

The Company reported net income of $39.5 million, or $0.43 per diluted share, for the third quarter of 2017 compared with net income of $37.8 million, or $0.40 per diluted share, for the third quarter of 2016 and net income of $37.9 million, or $0.41 per diluted share, for the second quarter of 2017.

 

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The following information was filed by Bancorpsouth Inc (BXS) on Thursday, October 19, 2017 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 New) (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
Recent Pronouncements (details)
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)

Material Contracts, Statements, Certifications & more

Bancorpsouth Inc provided additional information to their SEC Filing as exhibits

Ticker: BXS
CIK: 701853
Form Type: 10-Q Quarterly Report
Accession Number: 0000701853-17-000019
Submitted to the SEC: Wed Nov 08 2017 5:15:09 PM EST
Accepted by the SEC: Wed Nov 08 2017
Period: Saturday, September 30, 2017
Industry: State Commercial Banks

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