-
Quarterly profit at BancorpSouth (BXS) in Tupelo, Miss., were nearly unchanged from a year earlier after the company struggled to boost revenue from its balance sheet.
July 22 -
BancorpSouth in Tupelo, Miss., plans to redeem $125 million in trust-preferred securities.
June 27 -
BancorpSouth (BXS) in Tupelo, Miss., will take a $10.9 million charge for an early-retirement program meant to cut costs in the long term and an additional charge is possible.
June 3
BancorpSouth (BXS) in Tupelo, Miss., is strengthening its insurance business in Texas.
The $12.9 billion-asset company said Wednesday that its BancorpSouth Insurance has agreed to buy GEM Insurance Agencies in Houston. The companies did not disclose the agreement's financial terms.
BancorpSouth expects its insurance unit's annual revenues to be about $11 million after the acquisition. BancorpSouth's existing Houston insurance office will be folded into GEM's office, and the combined operations will be led by GEM President Ed Schreiber.
The acquisition "gives us an opportunity to enhance our presence significantly and expand our platform in a high-growth market," BancorpSouth Chief Executive Dan Rollins said in a press a news release. "GEM's growth strategy, operating structure, and customer-based focus are similar to our operations in Houston and across our footprint."
BancorpSouth earned $23.8 million in insurance commissions in the third quarter, and $76.3 million in the first nine months of this year, according to its latest quarterly report. BancorpSouth also owns Gumtree Wholesale Insurance Brokers.