 BancorpSouth, Inc.
2014 Sterne Agee Financial
Institutions Conference
February 13, 2014
Exhibit 99.1 |
 Forward Looking Information
2
Certain statements contained in this presentation and the accompanying slides may not be based on
historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements may be identified by reference to a future period or by the use of forward-looking terminology, such as
“anticipate,” “believe,” “estimate,” “expect,”
“foresee,” “may,” “might,” “will,” “intend,” “could,” “would” or “plan,” or future or conditional verb tenses, and variations or negatives of such terms. These
forward-looking statements include, without limitation, statements relating to revenue
estimates for the Company’s operations in Houston, Texas following the closing of the transaction with GEM Insurance Agencies, LP and the potential for expansion
of the Company’s business in Houston, the terms and closing of the proposed transactions with
Ouachita Bancshares Corp. and Central Community Corp., acceptance by customers of Ouachita Bancshares Corp. and
Central Community Corp. of the Company’s products and services, the opportunities to enhance
market share in certain markets and market acceptance of the Company generally in new markets, pro forma loan, deposit
and market share information, the impact of and the Company’s ability to implement cost-saving
initiatives, our ability to improve efficiency, and future growth, expansion, and consolidation opportunities. We caution you
not to place undue reliance on the forward-looking statements contained in this news release in
that actual results could differ materially from those indicated in such forward-looking statements because of a variety of
factors. These factors may include, but are not limited to, the ability to obtain required
shareholder and regulatory approvals of the mergers, the ability of the Company, Ouachita Bancshares Corp. and Central Community
Corp. to close the mergers, the ability of the Company to expand its insurance operations in Houston,
conditions in the financial markets and economic conditions generally, the adequacy of the Company’s provision and
allowance for credit losses to cover actual credit losses, the credit risk associated with real estate
construction, acquisition and development loans, losses resulting from the significant amount of the Company’s other real
estate owned, limitations on the Company’s ability to declare and pay dividends, the impact of
legal or administrative proceedings, the availability of capital on favorable terms if and when needed, liquidity risk, governmental
regulation, including the Dodd Frank Act, and supervision of the Company’s operations, the
short-term and long-term impact of changes to banking capital standards on the Company’s regulatory capital and liquidity, the
impact of regulations on service charges on the Company’s core deposit accounts, the
susceptibility of the Company’s business to local economic or environmental conditions, the soundness of other financial institutions,
changes in interest rates, the impact of monetary policies and economic factors on the Company’s
ability to attract deposits or make loans, volatility in capital and credit markets, reputational risk, the impact of hurricanes or
other adverse weather events, any requirement that the Company write down goodwill or other intangible
assets, diversification in the types of financial services the Company offers, the Company’s ability to adapt its
products and services to evolving industry standards and consumer preferences, competition with other
financial services companies, risks in connection with completed or potential acquisitions, the Company’s growth
strategy, interruptions or breaches in the Company’s information system security, the failure of
certain third party vendors to perform, unfavorable ratings by rating agencies, dilution caused by the Company’s issuance of
any additional shares of its common stock to raise capital or acquire other banks, bank holding
companies, financial holding companies and insurance agencies, other factors generally understood to affect the financial
results of financial services companies and other factors detailed from time to time in the
Company’s press releases and filings with the Securities and Exchange Commission. Forward-looking statements speak only as of
the date they were made, and, except as required by law, we do not undertake any obligation to update
or revise forward-looking statements to reflect events or circumstances after the date of this presentation. Certain
tabular presentations may not reconcile because of rounding. Unless otherwise noted, any quotes in this
presentation can be attributed to company management.
In connection with the proposed merger of Central Community Corporation with and into BancopSouth,
BancorpSouth will file a registration statement on Form S-4 with the Securities and Exchange
Commission. Shareholders of BancorpSouth and Central Community Corporation are encouraged to read
the registration statement, including the proxy statement/prospectus that will be a part of the
registration statement, because it will contain important information about the merger, BancorpSouth and
Central Community Corporation. After the registration statement is filed with the SEC, the proxy
statement/prospectus and other relevant documents will be available for free on the SEC’s web site
(www.sec.gov), and the proxy statement/prospectus will also be made available for free from the Corporate
Secretary of each of BancorpSouth and Central Community Corporation. In connection with the proposed
merger of Ouachita Bancshares Corp. with and into BancorpSouth, BancorpSouth has filed a registration statement on Form S-4 with the Securities and Exchange
Commission. Shareholders of BancorpSouth and Ouachita Bancshares Corp. are encouraged to read the
registration statement, including the proxy statement/prospectus that is a part of the registration
statement, because it contains important information about the merger, BancorpSouth and Ouachita
Bancshares Corp. The proxy statement/prospectus and other relevant documents are available for free o
the SEC’s web site (www.sec.gov), and the proxy statement/prospectus is available for free from the
Corporate Secretary of each of BancorpSouth and Ouachita Bancshares Corp. |
 About
BancorpSouth, Inc. (NYSE:BXS) Total assets of $13.0 billion
Headquartered in Tupelo, MS
256 full-service banking locations reaching throughout an 8-state
footprint
Customer-focused business model with comprehensive line of
financial products and banking services for individuals and small to
mid-size businesses
Strong core capital base consisting of 100% common equity
Market capitalization of $2.4 billion
3
Data as of December 31, 2013 |
 Community Bank Structure –
8 State Footprint
4
*The Central Texas Region will be added in conjunction with the Central Community
Corporation merger, which is expected to close during the second quarter of 2014.
|
 COMMUNITY BANK
Personal Banking
Business Banking
Deposit Offerings
Business Loans
Consumer Lending
Full Range of Deposit Products
Home Equity Lending
Treasury Management
Mobile/Internet Banking
Merchant Services
Prepaid Cards
Payroll and HR Management
Insurance
168 Licensed Producers in 30 Locations
Commercial, P&C, and Life Insurance
Trust and Wealth Management
$7 Billion Total Assets Under Management
17 Locations
Mortgage
98 Originators in 79 Locations
$1.4 Billion in Production for 2013
5
Equipment Finance and Leasing
Territory Managers Covering 14 States
Portfolio Balance of $500+ Million
As of and for the year ended December 31, 2013
Wide Range of Product Offerings |
 Diversified Revenue Stream
Approximately 40% of Total Revenue is Derived from Noninterest Sources
Total Noninterest Revenue of $266.1M*
6
Total Revenue of $665.1M*
Net Interest
Revenue
60%
Noninterest
Revenue
40%
Insurance
Commissions
37%
Mortgage
lending
14%
Card and
merchant fees
12%
Deposit service
charges
20%
Trust income
5%
Other
12%
Percentages and amounts based on data for the twelve months ended December 31, 2013
*Excludes positive MSR valuation adjustment of $8.9 million |
 2013
In Review At and for the year ended December 31, 2013
Net income of $94.1 million, or $0.99 per diluted share
Generated net loan growth of $321.0 million, or 3.7%
Expense control focus and efficiency initiatives continue to improve
performance
Efficiency ratio improved from 82% for 2012 to 75% for 2013
Completed voluntary early retirement program
In total, FTE headcount declined during 2013 from 4,249 to 4,005
Redeemed $125 million of 8.15% trust preferred securities
Non-performing assets declined $147.1 million, or 43.7%
Acquisition of Gem Insurance Agencies, LP
Expected to produce annual insurance commission revenues of approximately $9
million 7 |
 NPA
Improvement Total NPAs Have Declined Over 40% in the Last 12 Months
8
$64
$74
$98
$112
$186
$236
$302
$409
$394
$425
$380
$363
$322
$285
$267
$247
$234
$207
$168
$144
$120
$46
$47
$51
$62
$59
$59
$68
$83
$133
$136
$151
$163
$174
$168
$144
$128
$103
$96
$88
$77
$69
$110
$121
$149
$174
$246
$295
$370
$492
$528
$561
$531
$525
$496
$453
$411
$376
$337
$303
$256
$221
$190
$0
$125
$250
$375
$500
$625
4Q 08
1Q 09
2Q 09
3Q 09
4Q 09
1Q 10
2Q 10
3Q 10
4Q 10
1Q 11
2Q 11
3Q 11
4Q 11
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
NPLs
OREO
Dollars in millions
NPLs consist of nonaccrual loans, loans 90+ days past due and restructured loans
NPAs consist of NPLs and other real estate owned |
 Loan
Growth Dollars in millions
Produced net loan growth for 3 consecutive quarters
9
$9,691
$9,775
$9,333
$8,870
$8,738
$8,732
$8,680
$8,637
$8,582
$8,679
$8,773
$8,958
$7,500
$8,000
$8,500
$9,000
$9,500
$10,000
4Q 08
4Q09
4Q 10
4Q 11
1Q 12
2Q12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13 |
 Recent Transaction Announcements
Ouachita Bancshares Corp. (Ouachita Independent Bank)
Assets
-
$650
million;
Loans
-
$475
million;
Deposits
-
$550
million
In-market
expansion
–
enhance
presence
along
I-20
corridor
•
Footprint overlap in Shreveport and Monroe
•
Meaningful cost saving opportunities
Low-risk opportunity
•
Similar cultures and operating styles
•
Clean credit quality
Accretive to earnings per share
Central Community Corporation (First State Bank Central Texas)
Assets
-
$1.3
billion;
Loans
-
$550
million;
Deposits
-
$1.1
billion
Footprint
expansion
–
high
growth
Austin,
TX
market
and
other
markets
along
I-35
corridor
•
Austin, TX ranked No. 1 economy in the U.S. based on the economic rankings of The
Business Journals’
On Numbers report
•
Foundation for growth in Texas, both organically and future consolidation
opportunities Similar business models with community and customer
focus Accretive to earnings per share
10
Financial
data
as
of
December
31,
2013
Ouachita
Bancshares
Corp.
and
Central
Community
Corporation
transactions
expected
to
close
during
the
second
quarter
of
2014 |
 Footprint Expansion
11
Source:
SNL
Financial
*Transactions
expected
to
close
during
the
second
quarter
of
2014
BancorpSouth (256)
Ouachita* (12)
First State Bank* (31) |
   Commercial and
industrial
17.4%
Consumer mortgages
20.8%
Home equity
5.1%
Agricultural
3.0%
Commercial and
industrial-owner occupied
17.3%
Construction,
acquisition and
development
8.8%
Commercial real estate
20.6%
Credit cards
1.1%
All other
5.9%
12
Pro Forma Loan Composition
Pro
forma
information
excludes
purchase
accounting
adjustments
Loan
yields
represent
weighted
average
yields
for
the
quarter
ended
December
31,
2013
Based
on
Call
Reports
filed
by
BancorpSouth
,
Ouachita
Bancshares
Corp.,
and
Central
Community
Corporation
as
of
December
31,
2013
Loan Portfolio ($000)
Amount
%
Loan Portfolio ($000)
Amount
%
Loan Portfolio ($000)
Amount
%
Loan Portfolio ($000)
Amount
%
Commercial and industrial
1,529,249
$
17.1%
Commercial and industrial
85,984
$
18.1%
Commercial and industrial
124,565
$
22.5%
Commercial and industrial
1,739,798
$
17.4%
Real estate
Real estate
Real estate
Real estate
Consumer mortgages
1,976,073
22.1%
Consumer mortgages
63,789
13.5%
Consumer mortgages
37,246
6.7%
Consumer mortgages
2,077,108
20.8%
Home equity
494,339
5.5%
Home equity
17,425
3.7%
Home equity
-
0.0%
Home equity
511,764
5.1%
Agricultural
234,576
2.6%
Agricultural
28,434
6.0%
Agricultural
35,256
6.4%
Agricultural
298,266
3.0%
Commercial and industrial-owner occupied
1,473,320
16.4%
Commercial and industrial-owner occupied
97,264
20.5%
Commercial and industrial-owner occupied
158,359
28.6%
Commercial and industrial-owner occupied
1,728,943
17.3%
Construction, acquisition and development
741,458
8.3%
Construction, acquisition and development
46,259
9.8%
Construction, acquisition and development
87,541
15.8%
Construction, acquisition and development
875,258
8.8%
Commercial real estate
1,846,039
20.6%
Commercial real estate
126,100
26.6%
Commercial real estate
85,228
15.4%
Commercial real estate
2,057,367
20.6%
Credit cards
111,328
1.2%
Credit cards
-
0.0%
Credit cards
-
0.0%
Credit cards
111,328
1.1%
All other
551,633
6.2%
All other
8,897
1.9%
All other
25,811
4.7%
All other
586,341
5.9%
Total loans
8,958,015
$
100.0%
Total loans
474,152
$
100.0%
Total loans
554,005
$
100.0%
Total loans
9,986,172
$
100.0%
Yield on Loans: 4.52%
Yield on Loans: 5.34%
Yield on Loans: 5.61%
Yield on Loans: 4.62%
Commercial and
industrial 17.1%
Consumer mortgages
22.1%
Home equity
5.5%
Agricultural 2.6%
Commercial and
industrial-owner
occupied 16.4%
Construction,
acquisition and
development 8.3%
Commercial real estate
20.6%
Credit cards 1.2%
All other
6.2%
Commercial and
industrial
18.1%
Consumer mortgages
13.5%
Home equity
3.7%
Agricultural
6.0%
Commercial and
industrial-owner
occupied
20.5%
Construction,
acquisition and
development
9.8%
Commercial real
estate
26.6%
All other
1.9%
Commercial and industrial
22.5%
Consumer mortgages
6.7%
Agricultural
6.4%
Commercial and industrial-
owner occupied
28.6%
Construction, acquisition
and development
15.8%
Commercial real estate
15.4%
All other
4.7%
BancorpSouth, Inc.
Ouachita Bancshares Corp.
Central Community Corp.
Pro Forma |
 Non-Interest
Bearing Demand 25.3%
Interest-Bearing Demand 41.1%
Savings 11.1%
Other Time 22.5%
13
Pro Forma Deposit Composition
Central Community Corp.
BancorpSouth, Inc.
Ouachita Bancshares Corp.
Pro Forma
Pro forma information excludes purchase accounting adjustments
Deposit costs represent weighted average costs for the quarter ended December 31,
2013 Non-Interest Bearing
Demand 24.5%
Interest-Bearing Demand 42.5%
Savings 11.5%
Other Time 21.5%
Non-Interest Bearing
Demand 29.5%
Interest-Bearing Demand 32.3%
Savings 17.4%
Other Time 20.9%
Non-Interest Bearing
Demand 30.4%
Interest-Bearing Demand 31.7%
Savings 4.5%
Other Time 33.4%
Deposit Portfolio ($000)
Amount
%
Deposit Portfolio ($000)
Amount
%
Deposit Portfolio ($000)
Amount
%
Deposit Portfolio ($000)
Amount
%
Non-Interest Bearing Demand
2,644,592
$
24.5%
Non-Interest Bearing Demand
161,876
$
29.5%
Non-Interest Bearing Demand
322,461
$
30.4%
Non-Interest Bearing Demand
3,128,929
$
25.3%
Interest-Bearing Demand
4,582,450
42.5%
Interest-Bearing Demand
177,641
32.3%
Interest-Bearing Demand
335,883
31.7%
Interest-Bearing Demand
5,095,974
41.1%
Savings
1,234,130
11.5%
Savings
95,481
17.4%
Savings
47,720
4.5%
Savings
1,377,332
11.1%
Other Time
2,312,664
21.5%
Other Time
114,666
20.9%
Other Time
354,788
33.4%
Other Time
2,782,117
22.5%
Total deposits
10,773,836
$
100.0%
Total deposits
549,665
$
100.0%
Total deposits
1,060,852
$
100.0%
Total deposits
12,384,352
$
100.0%
Cost of Deposits: 0.29%
Cost of Deposits: 0.34%
Cost of Deposits: 0.54%
Cost of Deposits: 0.34% |
 14
Deposit Market Share
Other deposit related items of note:
All
three
institutions
funded
with
100%
core
deposits
–
no
reliance
on
brokered
deposits
As of December 31, 2013, BXS has approximately $130 million of promotional
CD’s at a weighted average rate of 3.97% that mature between January
2014 and October 2014 Market
BXS Market
Share Rank
6/30/13
Total BXS
Deposits
6/30/13
Percentage
of Total
Company
Deposits
BXS Market
Share 2013
(%)
Ouachita
Bancshares
Corp.
Deposits
6/30/13
Central
Community
Corp.
Deposits
6/30/13
Pro Forma
Deposits
6/30/13
Pro Forma
Percentage of
Total
Company
Deposits
Pro Forma
Market Share Market Share
Rank 6/30/13
Pro Forma
2013 (%)
Market YoY
Deposit
Growth
2013 (%)
Mississippi
3
5,069,157
$
46.4%
10.6%
-
$
-
$
5,069,157
$
40.7%
3
10.6%
2.6%
Texas
65
826,576
7.6%
0.1%
-
977,625
1,804,201
14.5%
29
0.3%
8.9%
Arkansas
7
1,733,083
15.9%
3.3%
-
-
1,733,083
13.9%
7
3.3%
-0.5%
Louisiana
11
955,359
8.7%
1.0%
533,685
-
1,489,044
12.0%
7
1.6%
5.3%
Tennessee
15
1,184,566
10.8%
1.0%
-
-
1,184,566
9.5%
15
1.0%
0.1%
Alabama
13
824,116
7.5%
1.0%
-
-
824,116
6.6%
13
1.0%
1.8%
Missouri
66
317,286
2.9%
0.2%
-
-
317,286
2.6%
66
0.2%
6.2%
Florida
246
19,351
0.2%
0.0%
-
-
19,351
0.2%
246
0.0%
4.1%
Total
10,929,494
$
100.0%
533,685
$
977,625
$
12,440,804
$
100.0%
6/30/13 Deposit Market Share ($ in thousands)
Source: SNL Financial
Note: Deposit market share data as of June 30, 2013.
Pro forma information excludes purchase accounting adjustments
Ouachita Bancshares Corp. and Central Community Corporation transactions expected to close during the
second quarter of 2014 |
 Summary
Profitability improvement
Growth in net interest income
Credit quality improvement reflected in provision for loan losses
Progress towards improving operating efficiency
Continued progress in improving asset quality
Focus on growth
Meaningful loan growth during 2014
Acquisition
of
GEM
Insurance
Agencies,
LP
–
enhances
presence
in
Houston,
TX
market
Additional opportunities to reduce expenses and improve efficiency
Subsequent bank transaction announcements
Expand market share in Louisiana along I-20 corridor
Enter Austin, TX market and other high growth markets along I-35
corridor 15 |
 BancorpSouth’s common stock is listed on the New York Stock
Exchange under the symbol BXS. Additional information can
be
found
at
www.bancorpsouth.com
.
Investor Inquiries:
Will Fisackerly
Director of Corporate Finance
BancorpSouth, Inc.
662-680-2475
will.fisackerly@bxs.com |