trending Market Intelligence /marketintelligence/en/news-insights/trending/SlFThQ_vqRoPn8lIys4EIg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

BancorpSouth’s pending mergers in regulators' hands, executives say

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

BancorpSouth’s pending mergers in regulators' hands, executives say

Tupelo, Miss.-based BancorpSouthInc. executives reiterated their guidance that two pending mergers maynot close on time or at all following a settlement with the U.S. Department of Justiceand the Consumer Financial Protection Bureau.

The financial institution reached a $10 million settlement on June 29 with the DOJand CFPB over allegations of mortgage lending discrimination. The investigationhad delayed the closing of two merger agreements the bank made with Monroe, La.-basedOuachita Bancshares Corp.and Temple, Texas-based Central CommunityCorp. The settlement had no financial impact during the second quarter,as provisions were calculated during the first quarter, executives added.

James "Dan" Rollins III, chairman and CEO, said thebank is scheduled to meet with regulators in the next few weeks to find out whatis needed to move forward on the mergers. "We do know that the ball is fullyin the primary regulators court today," he said.

Executives on the call told investors and analysts that the companyexpects to lower its legal fees following the settlement, although it still hasa few pending lawsuits.

Rollins also said that while the bank was on the sidelines interms of buybacks because of uncertainty around the CFPB and DOJ investigation,the bank now wants to use all of the tools available for capital management.

"We've grown capital significantly over the last coupleof years," he said. "We need to deploy that capital and give back to ourshareholders."

The bank reported second-quarter net income of $34.7 million,or 37 cents per share, compared to $39.7 million, or 41 cents per share, for thesecond quarter of 2015. Net interest margin was 3.56% for the second quarter of2016, compared to 3.54% for the second quarter of 2015, on a tax-equivalent basis.