Exhibit 99.1
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890401.gif)
Investor Presentation Financial Information First Quarter 2009 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890402.gif)
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 about growth opportunities, potential product expansion, potential market expansion, and the future operating results of BancorpSouth. 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 as a result of a variety of factors. These factors include, but are not limited to, the ability of BancorpSouth to provide and market competitive products and services, the ability of BancorpSouth to manage growth and effectively serve an expanding customer and market base, changes in economic conditions, the ability of BancorpSouth to identify and enter new markets, changes in BancorpSouth’s operating or expansion strategy, changes in the national economy and in the economy in BancorpSouth’s market areas, the ability of BancorpSouth to attract, train and retain qualified personnel, changes in consumer preferences, geographic concentrations of BancorpSouth’s assets, the ability of BancorpSouth to implement and integrate new technologies, changes in business conditions, including, for example, changes in interest rates and regulatory changes, and other factors detailed from time to time in BancorpSouth’s press releases and filings with the Securities and Exchange Commission. BancorpSouth does not undertake any obligation to update or revise forward-looking statements to reflect events or circumstances after the date of this presentation. Unless otherwise noted, any quotes in this presentation can be attributed to Mr. Patterson. Forward Looking Information 2 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890403.gif)
Corporate Profile3/4$13.5 billion in assets3/49-state financial holding company3/4315 locations3/4Provides a comprehensive line of financial products and services to individuals and to small- to mid-size businesses3/4Traditional banking and non-interest products3/4Community banking focus 3Data as of March 31, 2009 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890404.gif)
Market Footprint 4* Insurance office in Itasca, IL not shown |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890405.gif)
BancorpSouth Insurance Services |
For the first quarter of 2009, commissions totaled $22.6 million, a 8.2% decrease versus the same period in 2008. As of 12/31/08, total commissions and fees were $86.7 million, a 21.7% increase over the same date in 2007.Ranked 5th nationally among bank-owned insurance companies for total insurance income in the Michael White Associates Fee Income Ratings Report as of 12/31/2008 5 Ranked 34th nationally among insurance brokerage firms by Business Insurance in July of 2008 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890406.gif)
Balance Sheet InformationDollars in millions, except per share amounts6 As of March 31, 2009 2008 % Change Total assets $13,458 $13,155 2.3 Total earning assets 12,240 11,910 2.8 Loans, net of unearned discount 9,713 9,233 5.2 Allowance for credit losses 135 119 13.4 Total deposits 10,092 10,086 0.1 Common shareholders’ equity 1,256 1,221 2.9 Book value per share $15.11 $14.83 1.9 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890407.gif)
Operating ResultsDollars in millions, except per share amounts7“Profitability shows strength in a challenging environment.”Three Months Ended March 31, 2009 2008 % Change Net interest revenue $109.9 $110.1 (0.2) Provision for credit losses 14.9 10.8 38.0 Noninterest revenue 66.3 66.2 0.2 Noninterest expense 118.5 113.5 4.4 Income before income taxes 42.8 52.0 (17.7) Income tax provision 13.3 16.9 (21.3) Net income $29.5 $35.1 (16.0) Net income per share: diluted $0.35 $0.43 (18.6) |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890408.gif)
Performance Ratios 8“Our operating results have continued to provide solid performance ratios.”Three Months Ended Months 31, 2009 2008 Return on average assets 0.90% 1.08% Return on average tangible equity 13.04% 16.03% Return on common equity 9.65% 11.78% Net interest margin 3.74% 3.79% |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890409.gif)
Net Interest Margin 9“Our funds management strategies have produced a strong and relatively stable net interest margin.”3.66% 3.74% 3.74% 3.66% 3.75% 3.64% 3.73% 3.72% 3.79% 3.66% 3.67% 3.79% 3.69% 3.00% 3.25% 3.50% 3.75% 4.00% Q1-06 Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890410.gif)
Earnings Per Share History 10 1.43 1.47 1.57 1.69 0.43 1.45 0.35 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 2004 2005 2006 2007 2008 2009 1st Qtr YTD Total Year |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890411.gif)
Deposits and Borrowings 11Data based on Average Balances“Demand deposits have risen 14% from 1Q-08 to 1Q-09.”1Q-08 13% 29% 10% 5% 37% 6% 1Q-09 34% 14% 13% 5% 28% 6% Demand — Non-Interest Demand — Interest CDs Savings Short Term Borrowings Other |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890412.gif)
Deposits 12as of March 31, 20096% 17% 8% 47% 4% 11% 7% TN TX AL AR MO LA MS $8.9 $9.1 $9.8 $10.7 $10.1 $10.1 $5.0 $6.0 $7.0 $8.0 $9.0 $10.0 $11.0 $12.0 2004 2005 2006 2007 2008 2009 Total Deposits as of March 31 ($ in billions)“A strategy of controlling growth.” |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890413.gif)
$6.3 $6.9 $7.4 $8.7 $9.2 $9.7 $3.0 $4.0 $5.0 $6.0 $7.0 $8.0 $9.0 $10.0 $11.0 2004 2005 2006 2007 2008 2009 Loans Net of Unearned Income as of March 31 ($ in billions) Loans 13as of March 31, 2009CAGR = 9.21%“Loan growth has continued at a steady pace.”8% 13% 7% 9% 12% 7% 44% MO LA AR TX AL TN MS |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890414.gif)
Loan Portfolioas of March 31, 2009, dollars in millions14 Outstanding NPL NPL as a Percent of Outstanding Commercial & Industrial $1,267 $6.8 0.54% Real Estate 7,604 61.1 0.80% Consumer Mortgages 2,037 18.1 0.89% Home Equity 520 1.6 0.31% Agricultural 239 1.4 0.57% Commercial & Industrial-Owner Occupied 1,455 7.1 0.49% Construction, Acquisition and Development 1,693 30.5 1.80% Commercial 1,660 2.4 0.14%Credit Cards 98 3.9 4.00% All Other 744 2.0 0.26% Total Loans $9,713 $73.8 0.76% |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890415.gif)
Real Estate Construction, Acquisition and Development 15as of March 31, 2009, dollars in millionsOutstanding NPL NPL as a Percent of Outstanding Multi-Family Construction $13 $0.1 0.89% Condominiums 18 0.0 0.00% 1-4 Family Construction 338 3.1 0.91% Recreation and All Other Loans 48 1.0 2.08% Commercial Construction 367 6.7 1.82% Commercial Acquisition and Development 257 0.4 0.18% Residential Acquisition and Development 652 19.2 2.95%Real Estate Construction, Acquisition and Development $1,693 $30.5 1.80% |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890416.gif)
Non-Performing Assets and Loans 90 days or more Past Due / Assets (%) 16Peer Data from SNL Financial as of 4/24/09 The SNL Bank peer group includes a number of publicly traded banks and bank holding companies, as compiled by SNL Financial LC. The aggregate amounts are size-weighted, calculated by consolidating all companies into a single entity.1.59 0.90 0.82 0.50 0.56 0.73 2.19 1.16 0.82 0.99 0.00 0.50 1.00 1.50 2.00 2.50 3/31/08 6/30/08 9/30/08 12/31/08 3/31/09 BXS SNL Bank |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890417.gif)
Reserve Coverage of Non-Performing Assets and Loans 90 days or more Past Due (%) 17Peer Data from SNL Financial as of 4/24/09 The SNL Bank peer group includes a number of publicly traded banks and bank holding companies, as compiled by SNL Financial LC. The aggregate amounts are size-weighted, calculated by consolidating all companies into a single entity.102.17 99.51 83.51 132.25 182.57 164.66 120.36 111.02 74.71 104.62 0 50 100 150 200 3/31/08 6/30/08 9/30/08 12/31/08 3/31/09 BXS SNL Bank |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890418.gif)
Net Charge-Offs / Average Loans (%) 18Peer Data from SNL Financial as of 4/24/09 The SNL Bank peer group includes a number of publicly traded banks and bank holding companies, as compiled by SNL Financial LC. The aggregate amounts are size-weighted, calculated by consolidating all companies into a single entity.0.44 0.29 0.30 0.57 0.54 2.38 1.72 1.47 2.38 1.13 0.0 0.5 1.0 1.5 2.0 2.5 3/31/08 6/30/08 9/30/08 12/31/08 3/31/09 BXS SNL Bank |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890419.gif)
Total Equity / Total Assets (%) 19Peer Data from SNL Financial as of 4/24/09 The SNL Bank peer group includes a number of publicly traded banks and bank holding companies, as compiled by SNL Financial LC. The aggregate amounts are size-weighted, calculated by consolidating all companies into a single entity.8.65 7.80 8.86 9.28 9.34 9.21 9.20 9.33 9.42 8.41 7.0 7.5 8.0 8.5 9.0 9.5 10.0 3/31/08 6/30/08 9/30/08 12/31/08 3/31/09 BXS SNL Bank |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890420.gif)
20 Tangible Equity / Tangible Assets (%)Peer Data from SNL Financial as of 4/24/09 The SNL Bank peer group includes a number of publicly traded banks and bank holding companies, as compiled by SNL Financial LC. The aggregate amounts are size-weighted, calculated by consolidating all companies into a single entity.7.29 7.14 7.15 7.15 7.28 4.86 6.36 5.20 4.74 5.92 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 3/31/08 6/30/08 9/30/08 12/31/08 3/31/09 BXS SNL Bank |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890421.gif)
Dividend Growth 21 Cash dividend per share of common stockDividend Yield = 3.66% ** as of April 24, 2009$0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 $0.40 $0.45 $0.50 $0.55 $0.60 $0.65 $0.70 $0.75 $0.80 $0.85 $0.90 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890422.gif)
Total Shareholder Returnincluding dividends Source: Bloomberg22 Periods ending 3/31/09 - -4.8% - -23.3% 2.5% - -3.0% - -10.1% 6.2% 5.9% 1.1% 10.5% - -25.0% - -20.0% - -15.0% - -10.0% - -5.0% 0.0% 5.0% 10.0% 15.0% 5 Year 10 Year 15 Year S&P 500 Index S&P 500 Banks Index BXS |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890423.gif)
BancorpSouth’s common stock is traded on the New York Stock Exchange under the symbol BXS. Additional information can be found at www.bancorpsouth.com . Investor Inquiries: L. Nash Allen, Jr. William L. Prater Chief Financial Officer Executive Vice President BancorpSouth, Inc. BancorpSouth, Inc. 662-680-2330 662-680-2536 nash.allen@bxs.com bill.prater@bxs.com |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890424.gif)
A Leading Regional Bank in the Mid-South |
![(GRAPHIC)](https://capedge.com/proxy/8-K/0000950144-09-003814/g18904g1890425.gif)
Reconciliation of Non-GAAP MeasuresAs of As of As of As of As of As of 12/31/2007 3/31/2008 6/30/2008 9/30/2008 12/31/2008 3/31/2009(Period End Balances) Shareholders’ Equity —> A 1,196,626 1,221,135 1,233,776 1,242,719 1,240,260 1,255,659 Assets —> B 13,189,841 13,154,871 13,399,151 13,300,728 13,480,218 13,458,364 Intangibles —> C 281,439 302,989 301,896 300,624 297,131 295,867 Tangible Equity —> D=A-C 915,188 918,146 931,879 942,095 943,129 959,792 Tangible Assets —> E=B-C 12,908,403 12,851,882 13,097,255 13,000,104 13,183,087 13,162,497 Total Equity / Total Assets (%) — > F=A/B 9.07% 9.28% 9.21% 9.34% 9.20% 9.33% Tangible Equity / Tangible Assets (%) — > G=D/E 7.09% 7.14% 7.12% 7.25% 7.15% 7.29% |
YTD YTD YTD YTD YTD YTD 12/31/2007 3/31/2008 6/30/2008 9/30/2008 12/31/2008 3/31/2009 |
Net Income —> H 137,943 35,145 75,270 103,615 120,411 29,477 |
Amortization of Intangibles, net of tax —> I 3,133 944 1,855 2,770 3,660 840 |
Income excluding Amortization of Intangibles —> J=H-I 141,076 36,089 77,125 106,385 124,071 30,317 |
(Average Balances) |
Assets —> K 12,857,135 13,100,524 13,108,332 13,174,345 13,200,801 13,324,878 |
Shareholders’ Equity —> L 1,121,000 1,199,457 1,213,013 1,219,170 1,224,280 1,238,971 |
Intangibles —> M 258,774 294,082 298,248 299,215 299,194 296,419 |
Tangible Equity —> N=L-M 862,226 905,375 914,766 919,955 925,086 942,552 |
Return on Average Assets (annualized) —> O=H/K 1.07% 1.08% 1.15% 1.05% 0.91% 0.90% |
Return on Average Shareholders’ Equity (annualized) —> P=H/L 12.31% 11.78% 12.48% 11.35% 9.84% 9.65% |
Return on Average Tangible Equity (annualized) —> Q=J/N 16.36% 16.03% 16.95% 15.45% 13.41% 13.04% |