BancorpSouth Bank (NYSE: BXS) declared quarterly cash dividends of $0.185 per share for common stock and $0.34375 per share for Series A Preferred Stock. The common stock dividend is set for October 1, 2020, with a record date of September 15, 2020, while the preferred stock dividend will be paid on August 20, 2020, to shareholders recorded by August 5, 2020. The bank reported a net income of $58.8 million for Q2 2020, translating to $0.57 per diluted share.
BancorpSouth Bank (BXS) reported strong financial results for Q2 2020, achieving a net income of $58.8 million ($0.57 per share) compared to $53.1 million in Q2 2019. The company generated $102.1 million in pre-tax pre-provision net revenue, up from $80.6 million year-over-year. Despite recording a $20 million provision for credit losses due to COVID-19, total deposits grew by $2.3 billion. Mortgage origination reached a record $989 million. The company's capital ratios remain strong, with total risk-based capital at 13.79%. Overall, performance reflects resilience amidst pandemic challenges.
BXS Community Fund LLC, a subsidiary of BancorpSouth Bank (NYSE: BXS), has donated $65,800 to Catholic Charities Diocese of Jackson, Mississippi. This contribution will support various programs, including mental health services, housing stability, and children's services, benefitting families in the region. Catholic Charities has served approximately 16,000 residents across 65 counties in Mississippi. BancorpSouth emphasizes its commitment to community support and charitable partnerships.
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