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BancorpSouth in Tupelo, Miss., reported higher second-quarter profit, as an increase in loan volume offset lower yields on loans and leases.
July 20 -
Six regional banks have reported their stress-test results under Dodd-Frank for the first time, projecting Tier 1 common equity ratios ranging from 8.04% to 11.4% after an economic shock. However, several also projected multimillion-dollar losses during the stressful period.
June 16 -
Banks in the Magnolia State have built up capital and profits, and their owners are hoping the state's poor national reputation will shield them for a while from big rivals and M&A trends.
October 29
Trustmark in Jackson, Miss., reported a dip in second-quarter earnings on shrinking profit margins and declining yields on earning assets.
The $12.2 billion-asset company's net income decreased 7% from the second quarter of 2014, to $30.6 million. Earnings per share of 45 cents beat the average estimate of analysts polled by Bloomberg by four cents.
Net interest income fell 7.6% to $100.9 million, on a 46% decline in interest and fees on acquired loans. Loans held for investment rose 4.2% to $6.2 billion. Yields on total earning assets slipped 43 basis points to 3.99%. The net interest margin tightened 40 basis points to 3.81%
Fee income rose 3.2% to $45.5 million, on higher profits from mortgage banking and insurance commissions.
Noninterest expense fell 2.4% to $100.3 million, mainly on a decline in other real estate and foreclosure expenses. The efficiency ratio worsened to 66%.
