TUPELO, Miss. - BancorpSouth reported net income of $7 million, a 30.7% increase from a year ago. Earnings per share improved by 29%, to 80 cents.

Total assets increased 8% to $2.8 billion, and net deposits also jumped by 8%, to $2.45 billion. Returns on equity and assets were 12.37% and 1.03%, respectively, up from 0.86% and 10.35%.

BancorpSouth is the holding company of the Bank of Mississippi and Laurel Federal Savings and Loan Association, as well as Volunteer Bank in Tennessee.

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