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VOL. 128 | NO. 207 | Wednesday, October 23, 2013

BancorpSouth Profit Rises by 4 Percent in Quarter

AP

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TUPELO, Miss. (AP) — Regional bank BancorpSouth Corp. cut costs and bad loans in 2013's third quarter, as profit increased by 4 percent from the same three months of 2012.

BancorpSouth posted quarterly profit of $24.9 million, or 26 cents per share Monday. That's up from $23.8 million or 25 cents per share in 2012's third quarter.

Analysts polled by FactSet had estimated 27 cents per share, on average.

The company says it increased loans and net interest income for the second quarter in a row, while it benefited from reduced costs after an employee buyout. However, noninterest revenue fell as mortgage refinancing fees declined sharply.

Based in Tupelo, the $12.9 billion bank has offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 313 4,762
MORTGAGES 97 409 6,640
FORECLOSURE NOTICES 34 147 1,475
BUILDING PERMITS 0 705 11,294
BANKRUPTCIES 53 311 4,525
BUSINESS LICENSES 41 177 1,983
UTILITY CONNECTIONS 64 436 6,253
MARRIAGE LICENSES 19 132 1,373

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