TUPELO, Miss. (AP) — BancorpSouth says profit fell in the first quarter as lower interest rates cut into its income.

The Tupelo, Miss., regional bank said Monday that profit fell to $20.8 million, or 22 cents per share, in the quarter that ended March 31. That's down about 9 percent from $22.9 million or 25 cent per share in the same three months of 2012.

Analysts polled by FactSet had predicted, 21 cents, on average.

BancorpSouth set aside $4 million for future loan losses, down from $10 million in the year-ago period. Costs from foreclosed property also fell.

The $13.4 billion bank says it set aside $6.8 million for possible litigation losses.

Loans kept falling, although BancorpSouth has made highly publicized efforts to increase lending, announcing a $500 million loan pool for Mississippi businesses.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

feed-image RSS Feed
Loading
Chart
ABiz Stock Watch
o Home Bancorp 22.30 ▼0.06 (-0.27%)
o Frank's International 23.24 ▲0.27 (1.18%)
o IberiaBank Corp 66.41 ▲0.20 (0.30%)
o LHC Group 22.29 ▲0.69 (3.19%)
o MidSouth Bancorp 19.64 ▲0.17 (0.87%)
o Petroquest Energy 6.71 ▼0.04 (-0.59%)
o PHI Inc. 38.04 0.00 (0.00%)
o Superior Energy 34.49 ▼0.06 (-0.17%)
o Stone Energy 39.01 ▼0.50 (-1.27%)
o Teche Holding 71.82 (%)
o Facebook Inc. 74.68 ▲0.97 (1.31%)
o Twitter Inc. 46.30 ▲7.71 (19.98%)
o Gannett 33.53 ▲0.15 (0.45%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.30 Trade time:4:00PM EDT Value change:▼0.06 (-0.27%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:23.24 Trade time:4:07PM EDT Value change:▲0.27 (1.18%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:66.41 Trade time:4:00PM EDT Value change:▲0.20 (0.30%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:22.29 Trade time:4:00PM EDT Value change:▲0.69 (3.19%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:19.64 Trade time:4:02PM EDT Value change:▲0.17 (0.87%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:6.71 Trade time:4:04PM EDT Value change:▼0.04 (-0.59%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:38.04 Trade time:9:45AM EDT Value change:0.00 (0.00%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:34.49 Trade time:4:00PM EDT Value change:▼0.06 (-0.17%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:39.01 Trade time:4:01PM EDT Value change:▼0.50 (-1.27%)
NYSE:TSH

Teche Holding

Company ID [NYSE:TSH] Last trade:71.82 Trade time:4:03PM EDT Value change: (%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:74.68 Trade time:4:00PM EDT Value change:▲0.97 (1.31%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:46.30 Trade time:4:00PM EDT Value change:▲7.71 (19.98%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:33.53 Trade time:4:06PM EDT Value change:▲0.15 (0.45%)
Advertisement

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement