 BancorpSouth, Inc.
Gulf South Bank Conference
May 12-14, 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 non-
accrual loans, revenue estimates for the Company’s operations in Houston, Texas following the
closing of the transaction with GEM Insurance Agencies, LP, the terms and closing of the
proposed transactions with Ouachita Bancshares Corp. and Central Community Corporation, acceptance by customers of Ouachita Bancshares Corp. and Central Community
Corporation 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 presentation 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
regulatory approval for the proposed mergers with Ouachita Bancshares Corp. and Central Community
Corporation, the ability of the Company, Ouachita Bancshares Corp. and Central Community
Corporation to close the mergers, the ability of the Company to retain key personnel after the pending mergers and the Knox acquisition, 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. |
 About
BancorpSouth, Inc. (NYSE:BXS) Total assets of $13.1 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 March 31, 2014 |
 Community Bank Structure –
8 State Footprint
4
*
*The Central Texas Region will be added in conjunction with the Central Community Corporation pending
merger. |
 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
109 Originators in 84 Locations
$197 million in Production for Q1
($1.4 Billion in Production for 2013)
5
Equipment Finance and Leasing
Territory Managers Covering 14 States
Portfolio Balance of $500+ Million
Wide Range of Product Offerings
As of and for the quarter ended March 31, 2014 |
 Diversified Revenue Stream
Approximately 40% of Total Revenue is Derived from Noninterest Sources
Total Noninterest Revenue of $263.9M*
6
Total Revenue of $666.3M*
Net Interest
Revenue
60%
Noninterest
Revenue
40%
Insurance
Commissions
39%
Mortgage
lending
11%
Card and
merchant fees
13%
Deposit service
charges
20%
Trust income
5%
Other
12%
Percentages and amounts based on data for rolling 12 month period ended March 31, 2014 *Excludes negative MSR
valuation adjustment of $6.4 million |
 Q1
2014 Highlights Net income of $28.4 million, or $0.30 per diluted share
Announced the signing of two definitive merger agreements
Ouachita Bancshares Corp. (Ouachita Independent Bank)
Central Community Corporation (First State Bank Central Texas)
Produced $31.6 million of insurance commission revenue
Generated net loan growth of $110.4 million, or 5.0% annualized
Net interest margin remained relatively stable at 3.54%
Continued progress toward reducing non-interest expense
Subsequent acquisition announcement
Knox Insurance Group, LLC*
7
At and for the three months ended March 31, 2014 *Closed on April 9,
2014 |
 Diluted EPS
8
Fiscal Year
Quarter Ended
Growth in Earnings Per Share
$0.99
$0.27
$0.45
$0.90
$0.99
$0.30
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
$1.20
2009
2010
2011
2012
2013
Q1 14 |
 NPA
Improvement Total NPAs Have Declined 48% in the Last 12 Months
9
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
$110
$121
$149
$174
$246
$295
$370
$492
$528
$561
$531
$525
$496
$453
$411
$376
$337
$303
$256
$221
$190
$157
$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
1Q 14
NPLs
OREO |
 Loan
Growth Dollars in millions
Produced net loan growth for 4 consecutive quarters
10
Fiscal Year
Quarter Ended
$9,691
$9,775
$9,333
$8,870
$8,637
$8,582
$8,679
$8,773
$8,958
$9,068
$7,500
$8,000
$8,500
$9,000
$9,500
$10,000
4Q 08
4Q 09
4Q 10
4Q 11
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
1Q 14 |
 Recent Transaction Announcements -
Bank
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
11
Financial data as of December 31, 2013 |
 Recent Transaction Announcements -
Insurance
GEM Insurance Agencies, LP
Announced and closed December 18, 2013
Located in Houston, TX
Platform expansion in high growth market
•
Annual revenues of approximately $9 million
•
Diverse customer base including CRE, manufacturing, distribution, and service
companies Operates under leadership of Ed Schreiber
Legacy BXS office consolidated into GEM location
Knox Insurance Group, LLC
Announced and closed April 9, 2014
Located in Lafayette, LA
•
Annual revenues of approximately $3 million
•
Specialties include workers comp, business auto, P&C, and general/umbrella
liability Operates under leadership of Dwayne David and Randall
Bonaventure 12 |
 Footprint Expansion
13
BancorpSouth (256)
Ouachita* (12)
First State Bank* (31)
Source: SNL Financial *Transactions
pending |
 14
Deposit Market Share
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
pending All three institutions funded with 100% core deposits
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
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)
65 |
 Summary
Focus on growth
Meaningful net loan growth during 2013 and Q1 2014
Insurance agency acquisitions
GEM
Insurance
Agencies,
LP
–
Houston,
TX
(December
18,
2013)
Knox
Insurance
Group,
LLC
–
Lafayette,
LA
(April
9,
2014)
Recent additions to mortgage production team
Profitability and performance improvement
Continued progress in improving asset quality
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 |
 Investor Inquiries:
Will Fisackerly
Director of Corporate Finance
BancorpSouth, Inc.
-
-2475
will.fisackerly@bxs.com
contained on the website and is not, and should not, be deemed a part of this presentation
662
*Reference to BancorpSouth’s website does not constitute incorporation by reference of the
information 680
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
.* |