YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Tupelo, Mississippi-based BancorpSouth Inc. (NYSE: BXS) reported an increase in profitability at the conclusion of 2017’s third quarter.
Net income rose 4.5 percent to $39.5 million, or 43 cents per diluted share, from $37.8 million, or 40 cents per diluted share, in third-quarter 2016, according to a news release.
"We have consistently communicated our teammates' commitment to the communities we serve as well as our priority to meet or exceed all regulatory requirements and expectations,” said Dan Rollins, chairman and CEO of BancorpSouth, in the release.
Third-quarter financial notes:
• Net interest revenue rose 5.2 percent to $120.6 million.
• Provision for credit losses was $500,000, compared with no provision a year earlier.
• The company repurchased 699,888 shares at an average price of $28.99, for an investment of roughly $20.3 million.
As of Sept. 30, BancorpSouth — which operates six branches in Springfield — held $14.8 billion in assets and $11.8 billion in deposits, according to the release.
BXS shares were trading at $32.30 as of 8:40 a.m., just below a 52-week high of $32.70. The company’s 52-week low is $22.85.
A safe room and classroom addition at Willard Central Elementary School will be used by the music, arts and athletic programs for a district that had 4,536 students last year, according to Missouri Department of Elementary and Secondary Education figures, but school officials say enrollment is projected to grow.
