BancorpSouth (BXS) Reports In-Line Q4 EPS
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BancorpSouth (NYSE: BXS) reported Q4 EPS of $0.41, in-line with the analyst estimate of $0.41.
Highlights for the fourth quarter of 2017 included:
- Net income of $37.5 million, or $0.41 per diluted share.
- Reported total deposit growth of $139.6 million, or 4.7 percent on an annualized basis.
- Total noninterest expense declined compared to both the third quarter of 2017 and the fourth quarter of 2016.
- Earnings benefitted from a positive pre-tax mortgage servicing rights ("MSR") valuation adjustment of $2.4 million.
- Net operating income – excluding MSR – of $36.8 million, or $0.41 per diluted share.
- Recorded additional income tax expense of $0.6 million, or $0.01 per share, to reflect the net impact of certain strategic tax planning decisions as well as the revaluation of the net deferred tax asset resulting from corporate tax law changes enacted by the Tax Cuts and Jobs Act of 2017.
For earnings history and earnings-related data on BancorpSouth (BXS) click here.
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