BancorpSouth (BXS) Tops Q4 EPS by 2c

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BancorpSouth Reports Record Annual Earnings; Declares Quarterly Dividend

January 23, 2019 4:30 PM EST

TUPELO, Miss., Jan. 23, 2019 /PRNewswire/ -- BancorpSouth Bank (NYSE: BXS) (the "Company") today announced financial results for the quarter and year ended December 31, 2018.

Annual highlights for 2018 included:

Record net income of $221.3 million, or $2.23 per diluted share.     Net interest margin excluding accretable yield increased to 3.64 percent from 3.54 percent for 2017.    Improvement in cost structure; operating efficiency ratio excluding mortgage servicing rights ("MSR") improved to 66.6 percent compared to 67.8 percent for 2017.    Continued strong credit quality reflected by provision for credit losses of $4.5 million for the year; net charge-offs of $2.6 million for 2018,... More