BancorpSouth (BXS) Tops Q2 EPS by 6c

July 20, 2015 4:47 PM EDT

BancorpSouth (NYSE: BXS) reported Q2 EPS of $0.41, $0.06 better than the analyst estimate of $0.35. Net interest revenue was $107.3 million, up 4.1 percent from $103.1 million from last year.

"Our second quarter results reflect our Company's most profitable quarter since 2008," remarked Dan Rollins, BancorpSouth Chairman and Chief Executive Officer. "Progress in core fundamentals across all areas of our Company continues to drive earnings improvement. Our lenders continue to develop relationships and win new business as evidenced by net loan growth of over $280 million, or approximately 12 percent annualized, for the quarter. Our credit quality remains strong as elevated recoveries of previously charged-off loans contributed to a negative provision for credit losses of $5.0 million. Finally, we continue to challenge expenses and improve our cost structure. While we have more work to do on our expense base, we are pleased to report a decline in our quarterly efficiency ratio to 69.52 percent for the quarter."

For earnings history and earnings-related data on BancorpSouth (BXS) click here.

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