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.
Dozens attend vigil for Allie Rice on LSU campus; police hold walk...
Woman's car damaged thanks to gas pump mix-up; insurance company steps up...
Louisiana sends aid to Florida after Hurricane Ian disaster
After questionable decisions from judges, expert says holding them accountable could take...
Fugitive shot to death after search led federal marshals to EBR neighborhood
Fans' Choice Player of the Week 4: Central's Glen Cage
Plaquemine's Jayden Rogers leading the Green Devils through music
Southeastern knocks off #4 Incarnate Word on Eli Sawyer game winning touchdown...
McKinley High's homecoming football game canceled after bench-clearing brawl broke out between...
LSU Baseball team volunteers with Baton Rouge's Miracle League