Shares of BancorpSouth Inc. surged Tuesday after the $13.5 billion-asset Tupelo, Miss., company reported earnings that beat analysts' expectations.

BancorpSouth said late Monday that its first-quarter profit fell 16.1% from a year earlier, to $29.5 million, or 35 cents a share. The results beat the average estimate of analysts by 6 cents, according to Thomson Reuters.

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