BancorpSouth (BXS) Reports In-Line Q2 EPS
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BancorpSouth (NYSE: BXS) reported Q2 operating EPS of $0.33, in-line with the analyst estimate of $0.33.
- Acquired assets of Lafayette, Louisiana based Knox Insurance Group, LLC. Knox was formed in 1972 and currently produces annual revenues of approximately $3 million.
- Generated net loan growth of $243.3 million, or 10.8 percent annualized, which represents the fifth consecutive quarter of net loan growth.
- Mortgage loan production of $291.0 million, which contributed to mortgage lending revenue of $9.1 million for the quarter.
- Continued progress toward reducing core operating expenses.
- Net interest margin increased to 3.59 percent compared with 3.54 percent for the first quarter of 2014.
- Non-performing loans and leases ("NPLs") declined $19.6 million, or 21.0 percent, compared to the first quarter of 2014, while non-performing assets ("NPAs") decreased $27.9 million, or 17.8 percent, over the same period.
For earnings history and earnings-related data on BancorpSouth (BXS) click here.
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