EXHIBIT 99.1

FOR IMMEDIATE RELEASE

NEWS RELEASE

February 15, 2002                            For Further Information Contact:
                                             L. Nash Allen, Jr. (662) 680-2330


                          BANCORPSOUTH, INC. ANNOUNCES
                            STOCK REPURCHASE PROGRAM

TUPELO, Miss., Feb. 15 -- BancorpSouth, Inc. (NYSE: BXS) announced today that it
is commencing a common stock repurchase program whereby BancorpSouth may acquire
up to 4.1 million shares of its common stock, in addition to the approximately
825,000 shares that BancorpSouth has yet to purchase pursuant to the common
stock repurchase program authorized on March 5, 2001.

The shares would be purchased from time to time in the open market at prevailing
market prices or in privately negotiated transactions, and the repurchase
program is expected to be completed within the next 18 months. The extent and
timing of any repurchases will depend on market conditions and other corporate
considerations. Repurchased shares will be held as authorized but unissued
shares, and will be available for use in connection with BancorpSouth's stock
option plans and other compensation programs, or for other corporate purposes as
determined by BancorpSouth's Board of Directors.

BancorpSouth, Inc. is a bank holding company headquartered in Tupelo,
Mississippi with approximately $9.4 billion in assets. BancorpSouth operates
approximately 250 commercial banking, insurance, trust, broker/dealer and
consumer finance locations in Alabama, Arkansas, Louisiana, Mississippi,
Tennessee and Texas.