bearing 10,285,371 9,671,662 9,067,373 8,524,010 8,170,402
Savings 3,054,756 2,939,958 2,678,276 2,452,059 2,325,980
Other time 2,498,368 2,607,558 2,436,657 2,528,915 2,579,805
Total deposits 23,538,711 22,838,486 21,173,186 19,846,441 19,412,979
Securities sold under
agreement to repurchase 705,123 683,135 660,485 637,715 611,455
Federal funds purchased
and other short-term
borrowing - - - - 95,217
Accrued interest payable 11,334 8,718 11,879 10,885 15,286
Junior subordinated debt
securities 307,776 307,601 297,425 297,250 297,074
Long-term debt 4,082 4,189 4,295 4,402 4,508
Other liabilities 470,213 700,662 830,029 462,024 336,364
Total Liabilities 25,037,239 24,542,791 22,977,299 21,258,717 20,772,883
Shareholders' Equity
--------------------------
Preferred stock 166,993 166,993 166,993 166,993 166,993
Common stock 267,133 271,536 256,562 256,404 256,396
Capital surplus 688,637 730,294 563,481 565,187 565,635
Accumulated other
comprehensive (loss)
income (82,627) (34,575) (43,459) 11,923 18,490
Retained earnings 1,983,121 1,935,326 1,881,621 1,821,970 1,775,025
Total Shareholders' Equity 3,023,257 3,069,574 2,825,198 2,822,477 2,782,539
Total Liabilities &
Shareholders' Equity $ 28,060,496 $ 27,612,365 $ 25,802,497 $ 24,081,194 $ 23,555,422
*Includes $32.8 million, $167.1 million, $1.146 billion, $975.4 million and
$1.212 billion in PPP loans at September 30, 2021, June 30, 2021, March 31,
2021, December 31, 2020 and September 30, 2020, respectively.
BancorpSouth Bank
Consolidated Average Balance Sheets
(Unaudited)
Sep-21 Jun-21 Mar-21 Dec-20 Sep-20
(Dollars in thousands)
Assets
--------------------------
Cash and due from banks $ 288,199 $ 365,647 $ 261,519 $ 247,799 $ 232,421
Interest bearing deposits
with other banks
and Federal funds sold 495,982 302,845 412,313 171,650 257,057
Available-for-sale
securities, at fair
value 9,539,814 8,067,109 6,606,027 5,820,425 5,309,982
Loans and leases* 14,935,392 15,488,980 15,045,837 15,235,827 15,386,721
Less: Unearned income 19,664 18,441 16,761 16,425 17,037
Allowance for
credit
losses 264,067 245,095 242,935 247,049 236,536
Net loans and leases 14,651,661 15,225,444 14,786,141 14,972,353 15,133,148
Loans held for sale 242,422 361,999 289,755 277,600 296,352
Premises and equipment,
net 534,071 526,960 508,551 508,053 507,190
Accrued interest
receivable 93,248 100,357 102,190 105,513 104,435
Goodwill 957,899 910,448 851,612 852,472 847,744
Other identifiable
intangibles 53,567 52,564 54,876 54,858 56,045
Bank owned life insurance 357,429 348,378 333,837 332,543 330,642
Other real estate owned 16,939 12,293 11,043 14,872 7,754
Other assets 385,354 392,252 327,696 302,365 236,107
Total Assets $ 27,616,585 $ 26,666,296 $ 24,545,560 $ 23,660,503 $ 23,318,877
Liabilities
--------------------------
Deposits:
Demand: Noninterest
bearing $ 7,579,513 $ 7,367,832 $ 6,484,703 $ 6,391,006 $ 6,340,942
Interest
bearing 10,027,346 9,598,550 8,956,420 8,268,528 8,022,755
Savings 3,001,406 2,851,113 2,550,095 2,386,034 2,280,860
Other time 2,554,185 2,568,388 2,480,862 2,555,295 2,614,373
Total deposits 23,162,450 22,385,883 20,472,080 19,600,863 19,258,930
Securities sold under
agreement to repurchase 752,536 707,086 651,694 672,018 681,400
Federal funds purchased
and other short-term
borrowing 8,706 3,901 1,500 3,893 36,696
Accrued interest payable 10,801 11,169 11,607 14,175 15,589
Junior subordinated debt
securities 307,671 304,056 297,318 297,145 296,969
Long-term debt 4,168 4,714 4,378 4,488 4,592
Other liabilities 311,946 294,653 293,982 293,332 294,831
Total Liabilities 24,558,278 23,711,462 21,732,559 20,885,914 20,589,007
Shareholders' Equity
--------------------------
Preferred stock 166,993 166,993 166,993 166,993 166,993
Common stock 270,098 266,676 256,536 256,422 256,412
Capital surplus 717,022 674,949 563,529 568,343 563,267
Accumulated other
comprehensive (loss)
income (35,408) (30,614) (5,090) 12,432 24,758
Retained earnings 1,939,602 1,876,830 1,831,033 1,770,399 1,718,440
Total Shareholders' Equity 3,058,307 2,954,834 2,813,001 2,774,589 2,729,870
Total Liabilities &
Shareholders' Equity $ 27,616,585 $ 26,666,296 $ 24,545,560 $ 23,660,503 $ 23,318,877
*Includes $73.8 million, $973.0 million, $1.062 billion, $1.140 billion and
$1.207 billion in PPP loans for the quarter ended September 30, 2021, June 30,
2021, March 31, 2021, December 31, 2020 and September 30, 2020, respectively.
Consolidated Condensed Statements of Income
(Dollars in thousands, except per share data)
(Unaudited)
Quarter Ended Year to Date
Sep-21 Jun-21 Mar-21 Dec-20 Sep-20 Sep-21 Sep-20
INTEREST REVENUE:
Loans and leases $ 168,066 $ 171,305 $ 169,195 $ 174,072 $ 175,810 $ 508,566 $ 525,993
Deposits with other banks 195 97 108 50 74 400 1,020
Federal funds sold, securities purchased
under agreement to resell, FHLB and
other equity investments 67 28 6 6 52 101 545
Available-for-sale securities:
Taxable 28,617 23,983 21,192 21,895 21,280 73,792 63,571
Tax-exempt 490 676 687 760 986 1,853 3,224
Loans held for sale 2,076 3,040 1,595 2,504 2,468 6,711 5,853
Total interest revenue 199,511 199,129 192,783 199,287 200,670 591,423 600,206
INTEREST EXPENSE:
Interest bearing demand 7,723 8,247 8,796 9,766 10,773 24,766 37,926
Savings 672 626 700 872 1,012 1,998 3,245
Other time 5,861 6,428 6,966 8,189 9,287 19,255 30,751
Federal funds purchased and securities sold
under agreement to repurchase 204 206 203 276 279 613 2,006
Short-term and long-term debt 42 44 45 47 49 131 2,383
Junior subordinated debt 3,463 3,387 3,269 3,201 3,338 10,119 9,862
Other 2 9 15 - 1 26 2
Total interest expense 17,967 18,947 19,994 22,351 24,739 56,908 86,175
Net interest revenue 181,544 180,182 172,789 176,936 175,931 534,515 514,031
Press Release: BancorpSouth Announces Third -7-
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