BancorpSouth Bank reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net interest revenue of $121,386,000 against $115,387,000 a year ago. Income before income taxes was $58,079,000 against $55,843,000 a year ago. Net income was $37,523,000 against $37,670,000 a year ago. Return on average assets was 1.01% against 1.02% a year ago. Return on average shareholders equity was 8.75% against 8.69% a year ago. Return on tangible equity was 10.67% against 10.70% a year ago. Diluted earnings per share were $0.41 against $0.40 per share a year ago. Operating earnings per share was $0.42 against $0.40 per share a year ago. Total interest revenue was $132,276,000 against $123,444,000 a year ago. Net operating income was $38,248,000 against $37,645,000 a year ago. Earnings benefited from a positive mortgage servicing rights valuation adjustment of $2.4 million. Additionally, the company had 2 other items impact the fourth quarter results that the company consider to be non-operating. First, the company incurred merger expenses for around $700,000; and second, the company recorded an additional income tax expense of approximately $600,000 to revalue the company's net deferred tax asset. Net operating income, excluding MSR was $36.8 million or $0.41 per diluted share. This represents an increase of $0.08 per share or 24% compared to the fourth quarter of 2016.

For the year, the company reported net interest revenue of $474,036,000 against $453,452,000 a year ago. Income before income taxes was $231,623,000 against $196,444,000 a year ago. Net income was $153,033,000 against $132,728,000 a year ago. Return on average assets was 1.04% against 0.93% a year ago. Return on average shareholders equity was 8.99% against 7.80% a year ago. Return on tangible equity was 10.97% against 9.47% a year ago. Diluted earnings per share were $1.67 against $1.41 per share a year ago. Operating earnings per share was $1.67 against $1.51 per share a year ago. Book value per share as on December 31, 2017 was $18.97 against $18.40 per share a year ago. Tangible book value per share as on December 31, 2017 was $15.44 against $14.95 per share a year ago. Total interest revenue was $512,991,000 against $483,179,000 a year ago. Net operating income was $153,077,000 against $142,062,000 a year ago. Net operating income excluding the MSR change was $152 million or $1.66 per diluted share, which represents an increase of $0.16 per share or 11% compared to 2016.

For the quarter, the company reported net charge-offs of $1.8 million, compared with $3.2 million a year ago.

With the new federal statutory rate of 21%, the company expects the company's combined effective tax rate for 2018 to be between 23% and 25%.