Arkansas News Bureau - BancorpSouth earnings rise 51 percent in third quarter

Mon, Dec. 1, 2008

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BancorpSouth earnings rise 51 percent in third quarter
Thursday, Oct 25, 2007

Arkansas News Bureau

LITTLE ROCK - BancorpSouth Inc. on Wednesday reported third-quarter net income of $36.3 million, or 44 cents per diluted share, a 51.8 percent increase over the same period last year.

In the third quarter of 2006, the company had net income of $23.9 million, or 30 cents per diluted share.

"BancorpSouth produced significant profitable growth for the third quarter of 2007, driven by the double-digit rate of expansion of both our traditional banking business and other non-interest revenue," BancorpSouth CEO Aubrey Patterson said in a news release.

During the quarter, BancorpSouth acquired Insurance Network of Jonesboro.

Shares of BancorpSouth (NYSE: BXS) closed Wednesday at $23.22, down 32 cents.