BancorpSouth Execs Call on Little Rock with Healthy Dose of Financial Highlights and Humor

Top executives from the headquarters of BancorpSouth Corp. in Tupelo, Miss., buoyed shareholders in Little Rock with cautiously optimistic news of the company's position and a general dose of good humor Wednesday.

Aubrey Patterson, chairman and CEO of BancorpSouth, said the company is poised to take advantage of any meaningful strategic acquisition opportunities that present themselves during the current financial shakeout.

Patterson indicated that future acquisitions likely would push BancorpSouth's total assets from today's $13 billion to $20 billion during the next several years.

"We are highly capitalized with the capacity to raise even more capital," he said. "But we are not in the business of growing for the sake of just getting bigger."

Patterson also emphasized that the company was intent on preserving its track record of dividend growth, with deals that made good sense for its investors.

The gathering of about 100 at west Little Rock's Chenal Country Club was dominated by BancorpSouth executives, customers and cautiously upbeat shareholders, representing the company's operations from all quadrants of Arkansas.

Setting the stage for Patterson was Jim Kelley, BancorpSouth president and chief operating officer and former CEO of First United Bancshares Inc. of El Dorado.

Kelley highlighted the company's ability to avoid loan quality issues that have plagued other lenders by noting that only 1 percent of BancorpSouth loans are categorized as non-performing.

"We're pleased with where we stand today," he said.

Despite some favorable signs for the national economy, Kelley isn't convinced a full-blown recovery is just around the corner.

"We don't believe the negative economic environment is over," he said.

Kelley pointed to BancorpSouth Insurance Services, anchored by Little Rock's Ramsey Krug Farrell and Lensing, as a healthy source of revenue diversification during trying times for banks.

BIS represents the 23rd largest insurance company in the nation, and the fifth largest insurance operation owned by a bank.

Bob Althoff, South Arkansas regional president, introduced and welcomed Kelley to the microphone but pulled the pin on a grenade of controversy as he yielded the podium.

Althoff asked for a prediction on the Ole Miss-Arkansas football game this season: "What do you think Jim, 35 to 14 Arkansas?"