BancorpSouth Inc. in Tupelo, Miss., has disclosed the locations of the 23 branches it intends to close this summer.
The $13.5 billion-asset company said this week that it will shutter nine branches in Arkansas, eight in Mississippi — including two in its headquarters city — three in Tennessee, and one each in Texas, Alabama and Missouri.
The Arkansas branches are in Camden, Chidester, El Dorado, Hope, Humnoke, Humphrey, Mountainburg, Paragould and Texarkana.
The Mississippi branches are in Ecru, Edwards, Hamilton, Houlka, Laurel, Utica and two in Tupelo.
In Tennessee, it is closing two branches in Jackson and one in Henning; in Alabama it's closing the branch in Albertville; in Texas it's closing the branch in Maud: and in Missouri it's closing the branch in O'Fallon.
BancorpSouth also has branches in Louisiana and Florida, but at this point the company has no plans to close branches in those states.
BancorpSouth said last week that it is closing the branches because they have not generated enough business to cover their operating expenses. It estimates that shuttering the branches, which represent about 8% of its overall branch footprint, would save the company about $4.4 million a year.
