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BancorpSouth Bank (NYSE: BXS) announces an investment of nearly $1.5 million over the next two years to expand its partnership with Operation HOPE, adding six new HOPE Inside locations. This initiative aims to enhance financial literacy and empower underserved communities with free educational programs.
With this expansion, BancorpSouth now operates seven HOPE Inside locations in cities including Dallas and Gulfport. The initiative underscores BancorpSouth's commitment to community support and financial inclusion.
BancorpSouth Bank (NYSE: BXS) shareholders have approved the merger with Cadence Bancorporation (NYSE: CADE) during a special meeting. This all-stock merger aims to create a regional banking powerhouse valued over $6 billion, with operations across Texas and the Southeast. The transaction is expected to finalize in the fourth quarter of 2021, with full integration by the second half of 2022. Following the merger, the combined entity will operate as Cadence Bank under ticker CADE.
BancorpSouth Bank (NYSE: BXS) declared a quarterly cash dividend of $0.20 per share, marking a 5.3% increase from the previous dividend. This dividend will be paid on October 1, 2021, to shareholders on record by September 15, 2021. Additionally, a dividend of $0.34375 per share on Series A Preferred Stock will be paid on August 20, 2021. The bank reported $73.2 million net income for Q2 2021, equating to $0.69 per diluted share.
BancorpSouth Bank (NYSE: BXS) reported solid financial results for Q2 2021, with net income of $73.2 million ($0.69/share), and record net operating income of $90.6 million ($0.86/share). The company's pre-tax pre-provision net revenue reached $119.9 million, while total non-performing assets declined by 8.1%. Organic growth was evident with deposits up by $224.4 million (4.1% annualized) and net loans increasing by $65 million. The bank is on track to merge with Cadence Bancorporation, creating a $46 billion institution, and remains well-capitalized with a total risk-based capital ratio of 14.57%.
BancorpSouth (NYSE: BXS) will release its second-quarter 2021 earnings on July 21, 2021, after the market closes. An earnings webcast will follow on July 22, 2021, at 10:00 a.m. CDT, providing live interaction between management and analysts. The company, headquartered in Tupelo, Mississippi, boasts approximately $27 billion in assets and operates around 325 branch locations across several states including Alabama, Arkansas, and Texas. The webcast will also be accessible in an archived format for later viewing.
BancorpSouth Bank (NYSE: BXS) and Liberty Financial Services, Inc. have renewed and expanded their strategic business alliance as of June 22, 2021. BancorpSouth continues to provide advisory services to Liberty, which includes guidance on IT management, product development, and loan origination strategies. The partnership enhances Liberty's capability to offer financial solutions, particularly in underserved communities. BancorpSouth has renewed its investment in Liberty with an additional $8.5 million in preferred stock, underscoring its commitment to social impact and community revitalization.
BancorpSouth Bank (NYSE: BXS) has successfully completed mergers with National United Bancshares and FNS Bancshares, effective May 1, 2021. This strategic move aims to enhance BancorpSouth's growth by expanding its market presence in key regions such as Central Texas and offering improved services to customers. BancorpSouth, which has approximately $27 billion in assets, emphasizes the potential for long-term value for stakeholders through these mergers. The bank reassures customers to continue using existing services as integration progresses.
BancorpSouth Bank (NYSE: BXS) has declared a cash dividend of $0.19 per share for common stock, payable on July 1, 2021, to shareholders of record by June 15, 2021. Additionally, a cash dividend of $0.34375 per share for Series A Preferred Stock will be paid on May 20, 2021, for shareholders of record by May 5, 2021. The bank reported a net income of $79.2 million or $0.77 per diluted share for Q1 2021, with net operating income of $74.8 million, or $0.73 per diluted share, excluding MSR.
BancorpSouth Bank (BXS) reported record financial results for Q1 2021, with net income of $79.2 million ($0.77 per diluted share), up from $21.9 million a year earlier. The bank achieved a pre-tax pre-provision net revenue of $99.1 million, while total deposits grew by $1.3 billion (26.7% annualized). Credit quality indicators improved, with no provision for credit losses and a 16.5% decrease in non-performing assets. BancorpSouth announced a merger with Cadence Bancorporation (CADE), expected to create a $44 billion institution, enhancing growth prospects.
