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There are lists you want to be on, say, Santa's for presents. And there are lists you don't, such as the informal one Wall Street puts together of banks that may be compelled to sell under duress.
May 3 -
BancorpSouth Inc. in Tupelo, Miss., reported a first-quarter loss because of higher credit costs and a decline in mortgage-related revenue.
April 26
Coming off a weak first quarter, BancorpSouth Inc. in Tupelo, Miss., announced Tuesday that it is planning to close or consolidate 23 underperforming branches later this year.
The $13.5 billion-asset company said it would begin closing the branches in August and also hinted that more branches could be shuttered in the future as it seeks to improve efficiency and trim overhead.
"Management believes this initiative is an important first step to streamline BancorpSouth's branch banking operations and to provide enhanced efficiency and production capabilities," the company said in a news release.
BancorpSouth has roughly 290 branches in eight states. By shuttering the 23 branches, located in Alabama, Arkansas, Mississippi, Tennessee, Texas and Missouri, the company expects to save roughly $4.4 million a year.
In a statement, the company said that volume of business conducted at these branches "has been limited, and there has not been sustained growth to support the normal and routine expenses" required to operate them.
