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.
Animal shelter at critical capacity, now euthanizing to help 'desperate situation'
Sewage spewing out of apartment drains; mom of two in bad situation
Ohio family wants justice after their loved one was killed in Baton...
Lawmaker wants DCFS leadership gone amid investigations into toddler's death, foster parent's...
Daughter of fallen BRPD officer given police welcome on her first day...