BancorpSouth announces first quarter results

BancorpSouth recently announced financial results for the quarter ended March 31.

The Company reported net income of $32.3 million, or $0.33 per diluted share, for the first quarter of 2015 compared with net income of $28.4 million, or $0.30 per diluted share, for the first quarter of 2014 and net income of $28.7 million, or $0.30 per diluted share, for the fourth quarter of 2014.

The Company reported net operating income (excluding merger related and other non-operating expenses) of $32.3 million, or $0.33 per diluted share, for the first quarter of 2015 compared to $28.8 million, or $0.30 per diluted share, for the first quarter of 2014 and $28.7 million, or $0.30 per diluted share, for the fourth quarter of 2014.

Net interest revenue was $106.1 million for the first quarter of 2015, an increase of 4.5 percent from $101.5 million for the first quarter of 2014 and a decrease of 0.3 percent from $106.4 million for the fourth quarter of 2014. The fully taxable equivalent net interest margin was 3.56 percent for the first quarter of 2015 compared to 3.54 percent for the first quarter of 2014 and 3.60 percent for the fourth quarter of 2014.

Yields on loans and leases declined to 4.31 percent for the first quarter of 2015 from 4.48 percent for the first quarter of 2014 and increased from 4.30 percent for the fourth quarter of 2014, while yields on total interest earning assets were 3.80 percent for the first quarter of 2015 compared with 3.85 percent for both the first quarter of 2014 and the fourth quarter of 2014.