BancorpSouth announces 14 percent earnings growth

The per-share revenue was a 14 percent increase from the same period in 2007, due in part to a 3 percent increase in net interest revenue over the same period and a loan demand increase of 5.7 percent over the previous year and 2.7 percent growth from the first quarter of 2008.

“At a time when many peers within our markets and across the nation have struggled with growth, credit quality and liquidity issues, BancorpSouth’s second-quarter results are again differentiated by solid growth in loans, … strength in both credit quality and capital and ample sources of liquidity,” said chairman and CEO Aubrey Patterson in a news release.

Noninterest revenue for the company posted a 12-month increase of 21.6 percent, reflecting a 21.5 percent increase in insurance commission revenue. The company also posted a $2.6 million gain during the quarter from the sale of shares of MasterCard Inc. common stock.

Total bank assets as of June 30 were $13.4 billion, while total deposits were $9.8 billion.

Shares of BancorpSouth (NYSE: BXS) closed July 22 at $21.17, compared to a 52-week range of $15.15 to $26.50.