BancorpSouth Inc. reversed a fourth-quarter loss from a year ago, posting net income of $15.85 million, or 19 cents a share, for the quarter ending Dec. 31. In 2009, BancorpSouth, based in Tupelo, Miss., recorded a loss of $2.1 million, or 3 cents per share. For all of 2010, net income was $22.94 million, a 72% drop from the $82.73 million posted the previous year. The company says the fourth-quarter turnaround was due in large part to a $19 million decrease in the provision for credit losses, from $62.3 million in the period a year ago to $43.3 million for the most recent period. BancorpSouth has assets of $13.6 billion and has operations in nine states, including Louisiana.
BancorpSouth posts $15.85M profit
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