The following article discusses the BancorpSouth Bank, which is a significant bank in the USA. The article describes BancorpSouth history as well as the financial services it offers to US consumers.
History of BancorpSouth Bank
BancorpSouth has experienced exceptional growth since beginning in a tiny hardware store in Verona, Miss. more than a century ago. It has grown to a large regional player in financial services extending just east of Dallas and St. Louis to just west of Atlanta. Along with territorial expansion, BancorpSouth also has seen steady growth in products and services helping its clients to not only meet, but also to exceed their personal and business financial goals.
It became Mississippi’s first state-wide bank in 1987 when it merged with the First Mississippi National Bank. When the Federal Interstate Banking Law was enacted in 1992, BancorpSouth seized opportunities for expansion into both Tennessee and then to Alabama in 1998 when it merged with Highland Bank of Birmingham. The year 2000 found additional mergers with First United Bancshares of El Dorado, Ark., also adding properties in Arkansas, Texas and Louisiana to the company’s financial resources.
BancorpSouth Bank in the Twenty First Century
BancorpSouth expanded in 2005 in the Nashville, Tenn. area with a merger that added two Brentwood locations followed by another acquisition in Franklin. It entered the Florida market in 2006 opening an office in Destin and now extends its Gulf of Mexico coastline reach from Mississippi through Alabama on to Florida. BancorpSouth entered into the St. Louis and Springfield Missouri markets when it merged with the signature Bank of Springfield in 2007.
BancorpSouth Services
This explosive growth in the past decade has also led to the creation of a full and comprehensive list of financial and banking services to its customers. BancorpSouth offers traditional personal and business banking services such as checking, savings and loans but has also added other services such as insurance, brokerage and other savings and investment products. In the states of Mississippi, Louisiana and Arkansas, the company has formed BancorpSouth Insurance Services, Inc. and is now apparently ranked among the nation’s leaders in non-interest income derived from insurance products. Additionally, the company created BancorpSouth Investment Services, Inc. offering services to a client base from existing customers as well as attracting many new ones.
BancorpSouth Bank Structure
Although the company takes on the apparent appearance of a large regional bank in a right-state market; the general makeup of its locations retain a community-bank atmosphere maintaining close relationship to its customers and the communities in which it operates. Local branch presidents have the power to make all decisions when it comes to the granting of customer services to local individuals and businesses. BancorpSouth was nationally recognized by J.D. Power and Associates in 2008 with the highest ranking in the Southeast region for retail banking satisfaction.
The BancorpSouth Bank offers a wide variety of personal and business checking saving and investment services including taking full advantage of today’s Internet technology through its 24/seven online banking services. BancorpSouth claims itself not to be just a bank, but a full service financial institution that can help with not only planning for today’s needs but for tomorrow’s as well. Services are available for all segments of the population including young teenagers as well as multinational corporate endeavors. This full-service approach provides guidance when it comes to money management, insurance, investing as well as all trust and asset management needs.