BancorpSouth plans to dissolve its bank holding company
TUPELO, Miss. - A Mississippi-based bank plans to dissolve its bank holding company and merging those operations with its banking subsidiary.
The Northeast Mississippi Daily Journal reports BancorpSouth Inc. will remain a publicly traded company on the New York Stock Exchange under its current symbol, BXS.
Most banks have bank holding companies that let them offer services such as mortgage banking, leasing and consumer and commercial finance and loan servicing.
The company said the change is to cut costs. It will continue filing reports under the Federal Deposit Insurance Corp., rather than the Securities and Exchange Commission.
BancorpSouth will be the only state-chartered bank in Mississippi that's not a part of the Federal Reserve system. It will remain under regulation of the FDIC and the Mississippi Department of Banking and Consumer Finance.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
LSU unveils statue honoring legendary baseball coach Skip Bertman
Man arrested after woman found dead inside Pride home
'We will succeed if we stay united;' Mayor responds to defaced St....
Deadly inferno involving multiple 18-wheelers shuts down I-12
Go team: New superintendent signs cheer during pep rally
Fans' Choice Award Winner 2019: Week 1- Isaiah Jones
Coach O Postgame after Lsu defeats Texas 45-38
Hunter Register leads Southern's offense despite loss to McNeese
Taylor Bannister's journey to becoming a LSU Volleyball Superstar
Late Position Battle at Middle Linebacker A Positive for LSU