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
ABiz Stock Watch
o Home Bancorp 22.66 0.00 (0.00%)
o Frank's International 17.42 0.00 (0.00%)
o IberiaBank Corp 63.59 0.00 (0.00%)
o LHC Group 23.21 0.00 (0.00%)
o MidSouth Bancorp 18.87 0.00 (0.00%)
o Petroquest Energy 4.26 0.00 (0.00%)
o PHI Inc. 40.38 ▲0.78 (1.97%)
o Superior Energy 25.01 0.00 (0.00%)
o Stone Energy 23.47 0.00 (0.00%)
o Facebook Inc. 78.37 0.00 (0.00%)
o Twitter Inc. 49.08 0.00 (0.00%)
o Gannett 30.07 0.00 (0.00%)

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.66 Trade time:4:00PM EDT Value change:0.00 (0.00%)

Frank's International

Company ID [NYSE:FI] Last trade:17.42 Trade time:4:02PM EDT Value change:0.00 (0.00%)

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:63.59 Trade time:4:00PM EDT Value change:0.00 (0.00%)

LHC Group

Company ID [NYSE:LHCG] Last trade:23.21 Trade time:4:00PM EDT Value change:0.00 (0.00%)

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:18.87 Trade time:4:00PM EDT Value change:0.00 (0.00%)

Petroquest Energy

Company ID [NYSE:PQ] Last trade:4.26 Trade time:4:06PM EDT Value change:0.00 (0.00%)

PHI Inc.

Company ID [NYSE:PHII] Last trade:40.38 Trade time:3:32PM EDT Value change:▲0.78 (1.97%)

Superior Energy

Company ID [NYSE:SPN] Last trade:25.01 Trade time:4:03PM EDT Value change:0.00 (0.00%)

Stone Energy

Company ID [NYSE:SGY] Last trade:23.47 Trade time:4:05PM EDT Value change:0.00 (0.00%)

Facebook Inc.

Company ID [NYSE:FB] Last trade:78.37 Trade time:4:00PM EDT Value change:0.00 (0.00%)

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:49.08 Trade time:4:00PM EDT Value change:0.00 (0.00%)


Company ID [NYSE:GCI] Last trade:30.07 Trade time:4:04PM EDT Value change:0.00 (0.00%)

Read the Flipping Paper!

Click Here for the Entire Print Version of