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BancorpSouth Announces Fourth Quarter 2020 and Annual Financial Results
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TUPELO, Miss., Jan. 25, 2021 /PRNewswire/ BancorpSouth Bank (NYSE: BXS) (the Company ) today announced financial results for the quarter and year ended December 31, 2020.
Annual highlights for 2020 included:
Achieved net income available to common shareholders of $218.6 million, or $2.12 per diluted common share, and net operating income available to common shareholders – excluding mortgage servicing rights ( MSR ) – of $237.3 million, or $2.30 per diluted common share.
Recorded provision for credit losses of $86.0 million associated primarily with economic deterioration associated with the COVID-19 pandemic while net charge-offs totaled 0.18 percent of average loans and leases, 0.14 percent of which was related to previously acquired loans; adopted Accounting Standards Update 2016-13 Financial Instruments – Credit Losses ( CECL ) effectiv