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Aubrey Patterson keeps in touch with his successor and advises bankers to think twice before surpassing $10 billion in assets and earning more regulatory scrutiny.
March 7
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.
The $13.2 billion-asset company's earnings rose less than 1% from a year earlier, to $20.8 million. Still, per-share earnings of 22 cents were 4 cents above the average estimate of analysts polled by Bloomberg.
Net interest revenue fell 6% from a year earlier, to $98.2 million. The net interest margin contracted by 29 basis points from the second quarter of 2012, to 3.36%.
Noninterest revenue rose 14% from a year earlier, to $76 million, primarily because of gains in mortgage income, credit and debit card fees and insurance commissions.
Credit quality improved; the loan-loss provision fell 50% from a year earlier, to $3 million. Net chargeoffs fell 61% from the second quarter of 2012, to $4.6 million.
Noninterest expense rose 4% from a year earlier, to $142.3 million, primarily because of a
BancorpSouth recently announced it will