-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LGoKx7+RxnRAkJHnG2ebESaiF7Q/sHTf3B6vkxQz48NaZ0k7Sm+W3+sf3j1I2L9X
 heBoITvFm979b5mGBTxGtw==

<SEC-DOCUMENT>0001216840-03-000002.txt : 20030717
<SEC-HEADER>0001216840-03-000002.hdr.sgml : 20030717
<ACCEPTANCE-DATETIME>20030717091503
ACCESSION NUMBER:		0001216840-03-000002
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030716
FILED AS OF DATE:		20030717

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PERRY ALAN WALTER
		CENTRAL INDEX KEY:			0001216840

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12991
		FILM NUMBER:		03790353

	BUSINESS ADDRESS:	
		STREET 1:		2455 SAND RIDGE DR
		CITY:			JACKSON
		STATE:			MI
		ZIP:			39211

	MAIL ADDRESS:	
		STREET 1:		2455 SAND RIDGE DR
		CITY:			JACKSON
		STATE:			MI
		ZIP:			39211

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANCORPSOUTH INC
		CENTRAL INDEX KEY:			0000701853
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				640659571
		STATE OF INCORPORATION:			MS
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE MISSISSIPPI PL
		CITY:			TUPELO
		STATE:			MS
		ZIP:			38804
		BUSINESS PHONE:		6626802000

	MAIL ADDRESS:	
		STREET 1:		PO BOX 789
		CITY:			TUPELO
		STATE:			MS
		ZIP:			38802-0789

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCORP OF MISSISSIPPI INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgardoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2003-07-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000701853</issuerCik>
        <issuerName>BANCORPSOUTH INC</issuerName>
        <issuerTradingSymbol>BXS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001216840</rptOwnerCik>
            <rptOwnerName>PERRY ALAN WALTER</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
            <footnoteId id="F1"/>
        </securityTitle>
        <transactionDate>
            <value>2003-04-24</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>2300</value>
            </transactionShares>
            <transactionValue>
                <value>7.9075</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>23321.9537</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Non-Qualified Stock Option (right to buy)</value>
                <footnoteId id="F1"/>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>7.9075</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-04-24</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>2300</value>
            </transactionShares>
            <transactionValue>
                <value>7.9075</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1994-04-27</value>
                <footnoteId id="F1"/>
        </exerciseDate>
        <expirationDate>
            <value>2003-04-30</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>2300</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">Automatic grant within a Non-qualified stock option plan for non-employee directors granted pursuant to the BancorpSouth, Inc. 1990 Stock Option Plan. The stock option becomes exercisable after the date of the next annual meeting following the date of grant by at least six months, provided that the Holder has continually served as a director during that period.  </footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Perry, Alan W.</signatureName>
        <signatureDate>2003-07-16</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----