![]() BancorpSouth, Inc. 2014 Sterne Agee Financial Institutions Conference February 13, 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 revenue estimates for the Company’s operations in Houston, Texas following the closing of the transaction with GEM Insurance Agencies, LP and the potential for expansion of the Company’s business in Houston, the terms and closing of the proposed transactions with Ouachita Bancshares Corp. and Central Community Corp., acceptance by customers of Ouachita Bancshares Corp. and Central Community Corp. 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 news release 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 shareholder and regulatory approvals of the mergers, the ability of the Company, Ouachita Bancshares Corp. and Central Community Corp. to close the mergers, the ability of the Company to expand its insurance operations in Houston, 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. In connection with the proposed merger of Central Community Corporation with and into BancopSouth, BancorpSouth will file a registration statement on Form S-4 with the Securities and Exchange Commission. Shareholders of BancorpSouth and Central Community Corporation are encouraged to read the registration statement, including the proxy statement/prospectus that will be a part of the registration statement, because it will contain important information about the merger, BancorpSouth and Central Community Corporation. After the registration statement is filed with the SEC, the proxy statement/prospectus and other relevant documents will be available for free on the SEC’s web site (www.sec.gov), and the proxy statement/prospectus will also be made available for free from the Corporate Secretary of each of BancorpSouth and Central Community Corporation. In connection with the proposed merger of Ouachita Bancshares Corp. with and into BancorpSouth, BancorpSouth has filed a registration statement on Form S-4 with the Securities and Exchange Commission. Shareholders of BancorpSouth and Ouachita Bancshares Corp. are encouraged to read the registration statement, including the proxy statement/prospectus that is a part of the registration statement, because it contains important information about the merger, BancorpSouth and Ouachita Bancshares Corp. The proxy statement/prospectus and other relevant documents are available for free o the SEC’s web site (www.sec.gov), and the proxy statement/prospectus is available for free from the Corporate Secretary of each of BancorpSouth and Ouachita Bancshares Corp. |
![]() About BancorpSouth, Inc. (NYSE:BXS) Total assets of $13.0 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 December 31, 2013 |
![]() Community Bank Structure – 8 State Footprint 4 *The Central Texas Region will be added in conjunction with the Central Community Corporation merger, which is expected to close during the second quarter of 2014. |
![]() 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 98 Originators in 79 Locations $1.4 Billion in Production for 2013 5 Equipment Finance and Leasing Territory Managers Covering 14 States Portfolio Balance of $500+ Million As of and for the year ended December 31, 2013 Wide Range of Product Offerings |
![]() Diversified Revenue Stream Approximately 40% of Total Revenue is Derived from Noninterest Sources Total Noninterest Revenue of $266.1M* 6 Total Revenue of $665.1M* Net Interest Revenue 60% Noninterest Revenue 40% Insurance Commissions 37% Mortgage lending 14% Card and merchant fees 12% Deposit service charges 20% Trust income 5% Other 12% Percentages and amounts based on data for the twelve months ended December 31, 2013 *Excludes positive MSR valuation adjustment of $8.9 million |
![]() 2013 In Review At and for the year ended December 31, 2013 Net income of $94.1 million, or $0.99 per diluted share Generated net loan growth of $321.0 million, or 3.7% Expense control focus and efficiency initiatives continue to improve performance Efficiency ratio improved from 82% for 2012 to 75% for 2013 Completed voluntary early retirement program In total, FTE headcount declined during 2013 from 4,249 to 4,005 Redeemed $125 million of 8.15% trust preferred securities Non-performing assets declined $147.1 million, or 43.7% Acquisition of Gem Insurance Agencies, LP Expected to produce annual insurance commission revenues of approximately $9 million 7 |
![]() NPA Improvement Total NPAs Have Declined Over 40% in the Last 12 Months 8 $64 $74 $98 $112 $186 $236 $302 $409 $394 $425 $380 $363 $322 $285 $267 $247 $234 $207 $168 $144 $120 $46 $47 $51 $62 $59 $59 $68 $83 $133 $136 $151 $163 $174 $168 $144 $128 $103 $96 $88 $77 $69 $110 $121 $149 $174 $246 $295 $370 $492 $528 $561 $531 $525 $496 $453 $411 $376 $337 $303 $256 $221 $190 $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 NPLs OREO 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 |
![]() Loan Growth Dollars in millions Produced net loan growth for 3 consecutive quarters 9 $9,691 $9,775 $9,333 $8,870 $8,738 $8,732 $8,680 $8,637 $8,582 $8,679 $8,773 $8,958 $7,500 $8,000 $8,500 $9,000 $9,500 $10,000 4Q 08 4Q09 4Q 10 4Q 11 1Q 12 2Q12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 |
![]() Recent Transaction Announcements 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 10 Financial data as of December 31, 2013 Ouachita Bancshares Corp. and Central Community Corporation transactions expected to close during the second quarter of 2014 |
![]() Footprint Expansion 11 Source: SNL Financial *Transactions expected to close during the second quarter of 2014 BancorpSouth (256) Ouachita* (12) First State Bank* (31) |
![]() ![]() ![]() Commercial and industrial 17.4% Consumer mortgages 20.8% Home equity 5.1% Agricultural 3.0% Commercial and industrial-owner occupied 17.3% Construction, acquisition and development 8.8% Commercial real estate 20.6% Credit cards 1.1% All other 5.9% 12 Pro Forma Loan Composition Pro forma information excludes purchase accounting adjustments Loan yields represent weighted average yields for the quarter ended December 31, 2013 Based on Call Reports filed by BancorpSouth , Ouachita Bancshares Corp., and Central Community Corporation as of December 31, 2013 Loan Portfolio ($000) Amount % Loan Portfolio ($000) Amount % Loan Portfolio ($000) Amount % Loan Portfolio ($000) Amount % Commercial and industrial 1,529,249 $ 17.1% Commercial and industrial 85,984 $ 18.1% Commercial and industrial 124,565 $ 22.5% Commercial and industrial 1,739,798 $ 17.4% Real estate Real estate Real estate Real estate Consumer mortgages 1,976,073 22.1% Consumer mortgages 63,789 13.5% Consumer mortgages 37,246 6.7% Consumer mortgages 2,077,108 20.8% Home equity 494,339 5.5% Home equity 17,425 3.7% Home equity - 0.0% Home equity 511,764 5.1% Agricultural 234,576 2.6% Agricultural 28,434 6.0% Agricultural 35,256 6.4% Agricultural 298,266 3.0% Commercial and industrial-owner occupied 1,473,320 16.4% Commercial and industrial-owner occupied 97,264 20.5% Commercial and industrial-owner occupied 158,359 28.6% Commercial and industrial-owner occupied 1,728,943 17.3% Construction, acquisition and development 741,458 8.3% Construction, acquisition and development 46,259 9.8% Construction, acquisition and development 87,541 15.8% Construction, acquisition and development 875,258 8.8% Commercial real estate 1,846,039 20.6% Commercial real estate 126,100 26.6% Commercial real estate 85,228 15.4% Commercial real estate 2,057,367 20.6% Credit cards 111,328 1.2% Credit cards - 0.0% Credit cards - 0.0% Credit cards 111,328 1.1% All other 551,633 6.2% All other 8,897 1.9% All other 25,811 4.7% All other 586,341 5.9% Total loans 8,958,015 $ 100.0% Total loans 474,152 $ 100.0% Total loans 554,005 $ 100.0% Total loans 9,986,172 $ 100.0% Yield on Loans: 4.52% Yield on Loans: 5.34% Yield on Loans: 5.61% Yield on Loans: 4.62% Commercial and industrial 17.1% Consumer mortgages 22.1% Home equity 5.5% Agricultural 2.6% Commercial and industrial-owner occupied 16.4% Construction, acquisition and development 8.3% Commercial real estate 20.6% Credit cards 1.2% All other 6.2% Commercial and industrial 18.1% Consumer mortgages 13.5% Home equity 3.7% Agricultural 6.0% Commercial and industrial-owner occupied 20.5% Construction, acquisition and development 9.8% Commercial real estate 26.6% All other 1.9% Commercial and industrial 22.5% Consumer mortgages 6.7% Agricultural 6.4% Commercial and industrial- owner occupied 28.6% Construction, acquisition and development 15.8% Commercial real estate 15.4% All other 4.7% BancorpSouth, Inc. Ouachita Bancshares Corp. Central Community Corp. Pro Forma |
![]() Non-Interest Bearing Demand 25.3% Interest-Bearing Demand 41.1% Savings 11.1% Other Time 22.5% 13 Pro Forma Deposit Composition Central Community Corp. BancorpSouth, Inc. Ouachita Bancshares Corp. Pro Forma Pro forma information excludes purchase accounting adjustments Deposit costs represent weighted average costs for the quarter ended December 31, 2013 Non-Interest Bearing Demand 24.5% Interest-Bearing Demand 42.5% Savings 11.5% Other Time 21.5% Non-Interest Bearing Demand 29.5% Interest-Bearing Demand 32.3% Savings 17.4% Other Time 20.9% Non-Interest Bearing Demand 30.4% Interest-Bearing Demand 31.7% Savings 4.5% Other Time 33.4% Deposit Portfolio ($000) Amount % Deposit Portfolio ($000) Amount % Deposit Portfolio ($000) Amount % Deposit Portfolio ($000) Amount % Non-Interest Bearing Demand 2,644,592 $ 24.5% Non-Interest Bearing Demand 161,876 $ 29.5% Non-Interest Bearing Demand 322,461 $ 30.4% Non-Interest Bearing Demand 3,128,929 $ 25.3% Interest-Bearing Demand 4,582,450 42.5% Interest-Bearing Demand 177,641 32.3% Interest-Bearing Demand 335,883 31.7% Interest-Bearing Demand 5,095,974 41.1% Savings 1,234,130 11.5% Savings 95,481 17.4% Savings 47,720 4.5% Savings 1,377,332 11.1% Other Time 2,312,664 21.5% Other Time 114,666 20.9% Other Time 354,788 33.4% Other Time 2,782,117 22.5% Total deposits 10,773,836 $ 100.0% Total deposits 549,665 $ 100.0% Total deposits 1,060,852 $ 100.0% Total deposits 12,384,352 $ 100.0% Cost of Deposits: 0.29% Cost of Deposits: 0.34% Cost of Deposits: 0.54% Cost of Deposits: 0.34% |
![]() 14 Deposit Market Share Other deposit related items of note: All three institutions funded with 100% core deposits – no reliance on brokered deposits As of December 31, 2013, BXS has approximately $130 million of promotional CD’s at a weighted average rate of 3.97% that mature between January 2014 and October 2014 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 65 826,576 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) 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 expected to close during the second quarter of 2014 |
![]() Summary Profitability improvement Growth in net interest income Credit quality improvement reflected in provision for loan losses Progress towards improving operating efficiency Continued progress in improving asset quality Focus on growth Meaningful loan growth during 2014 Acquisition of GEM Insurance Agencies, LP – enhances presence in Houston, TX market Additional opportunities to reduce expenses and improve efficiency Subsequent 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 |
![]() 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 . Investor Inquiries: Will Fisackerly Director of Corporate Finance BancorpSouth, Inc. 662-680-2475 will.fisackerly@bxs.com |