EXHIBIT 99.1

Contact:
William L. Prater		Will Fisackerly
Treasurer and Chief Financial Officer		First Vice President and
662/680-2000		Director of Investor Relations
		662/680-2475

BancorpSouth Announces Earnings of $0.15 per Diluted Share
for the Second Quarter of 2011

TUPELO, Miss., July 25, 2011/PRNewswire-FirstCall via COMTEX/ — BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter ended June 30, 2011. The Company reported net income of $12.8 million, or $0.15 per diluted share, for the second quarter of 2011 compared with a net loss of $12.6 million, or $0.15 per diluted share, for the second quarter of 2010.

“We are pleased to report significant improvement in our financial results for the second quarter of 2011, compared with both the second quarter of 2010 and the first quarter of 2011,” remarked Aubrey Patterson, Chairman and Chief Executive Officer of BancorpSouth. “Our stronger earnings are primarily the result of a reduction in our provision for credit losses for the second quarter of 2011 to $32.2 million from $62.4 million for the second quarter of 2010 and $53.5 million for the first quarter of 2011.

“These results reflect improved credit performance, with a 10.6 percent decrease in non-performing loans (“NPLs”) at the end of the second quarter of 2011 from the end of the first quarter of 2011 and a reduction in comparable and sequential quarter net charge-offs of approximately 35 percent. In addition, we experienced a decline in nonaccrual loan formation for the third sequential quarter and a decline in 30 — 89 day past due loans for the fifth sequential quarter. New loans placed on non-accrual status during the quarter represent the lowest level of additions in eight quarters. We are encouraged by this performance, but we remain cautious about short-term prospects for continued improvement given slow economic growth and persistently high unemployment.

“NPLs decreased by $45.2 million to $379.8 million at the end of the second quarter of 2011 compared with the end of the first quarter of 2011. This decline was primarily the result of a $39.7 million decrease in nonaccrual loans. Construction, acquisition and development (“CAD”) nonaccruals declined $24.4 million, or 10.9%, to $200.4 million and represented 60.5 percent of total nonaccrual loans at the end of the second quarter. Gross nonaccrual loan formation declined to $50.4 million for the second quarter of 2011. This represents the third consecutive quarter of lower nonaccrual loan formation after $166.2 million of loans were placed in nonaccrual status in the third quarter of 2010.

“The sequential-quarter decline in NPLs also included a slight decline in loans 90 days or more past due and still accruing to $4.0 million at the end of the second quarter. Restructured loans, still accruing, declined $4.7 million, or 9.5 percent, during the second quarter of 2011.

“Other real estate owned increased $14.8 million to $151.2 million at the end of the second quarter of 2011 compared with the first quarter of 2011. This net increase reflected $38.2 million added through foreclosure, partially offset by sales of other real estate owned of $21.1 million, which increased from sales of $13.5 million for the first quarter of 2011. Write-downs in the value of existing properties were $2.3 million for the second quarter of 2011. The sales of other real estate owned during the second quarter of 2011 resulted in a net gain of $140,000.

“BancorpSouth’s core operations produced solid, consistent results, with pre-tax, pre-provision earnings of $48.0 million for the second quarter of 2011, compared with $46.4 million for the second quarter of 2010 and $47.7 million for the first quarter of 2011.”

Patterson added, “We continue to have solid performance from our community banking group, our insurance group and our other lines of business. While elevated non-performing asset levels, and costs associated with their resolution, are indeed a headwind, we made solid progress in continuing to work through those issues during the second quarter. In addition, earnings for the second quarter and our decision to build capital through a reduction in cash dividends have contributed to strengthening our capital, with our ratio of tangible equity to tangible assets increasing to 7.32 percent at the end of the second quarter of 2011 from 7.23 percent for the second quarter of 2010 and 6.95 percent for the first quarter of 2011.

“Our primary focus going forward is to build on the favorable results achieved for the second quarter by working to resolve credit issues. We are also continuing our work to improve our core operating results by enhancing organic revenue growth and controlling expenses. Recent progress in these efforts has resulted in the hiring of additional mortgage origination staff, and the decision to close 23 branches as a part of our branch optimization project.”

Net Interest Revenue

Net interest revenue was $109.9 million for the second quarter of 2011, an increase of 0.5 percent from $109.3 million for the second quarter of 2010 and an increase of 0.4 percent from $109.4 million for the first quarter of 2011. The fully taxable equivalent net interest margin was 3.71 percent for both the second quarter of 2011 and 2010 and 3.69 percent for the first quarter of 2011.

Asset, Deposit and Loan Activity

Total assets were $13.4 billion at June 30, 2011 and June 30, 2010. Total deposits were $11.3 billion at June 30, 2011, an increase of 0.8 percent from $11.2 billion at June 30, 2010. Loans and leases, net of unearned income, were $9.2 billion at June 30, 2011, a decrease of 4.5 percent from $9.6 billion at June 30, 2010.

The CAD loan portfolio, which decreased $358.6 million, or 25.3 percent, for the 12 months ended June 30, 2011, accounted for 82.9 percent of the decline in net loans and leases over the same period. Excluding the impact of the CAD loan portfolio, net loans and leases declined $73.7 million, or 0.9 percent, for the 12 months ended June 30, 2011.

During the second quarter of 2011, the Company determined that it no longer had the intent to hold until maturity all securities that were previously classified as held-to-maturity. As a result of this determination, all securities are now classified as available-for-sale and are recorded at fair value. Management believes that this decision allows greater flexibility in managing the balance sheet, interest rate risk and liquidity.

Subsequent to this decision, the Company sold $88.9 million in securities, some of which were previously classified as held-to-maturity, resulting in a gain of $9.8 million. At that time, the Company also repaid $75.0 million in long-term Federal Home Loan Bank (“FHLB”) advances, incurring a prepayment penalty of $9.8 million. Management expects that the combination of these two transactions will have a slightly positive impact to net interest income.

The growth in deposits at June 30, 2011 compared with June 30, 2010 resulted from a 4.5 percent increase in interest bearing demand deposits, a 10.5 percent increase in noninterest bearing demand deposits and a 22.7 percent increase in savings deposits. These increases reflect, in part, the Company’s strategic focus on strengthening existing — and building new — core banking relationships to enhance future growth opportunities. In an environment conducive neither to loan growth nor to meaningful investment yields, the Company offset 85.1 percent of these deposit increases through a 13.1 percent decline on certificates of deposit over the 12 months ended June 30, 2011.

Provision for Credit Losses and Allowance for Credit Losses

For the second quarter of 2011, the provision for credit losses was $32.2 million, compared with $62.4 million for the second quarter of 2010 and $53.5 million for the first quarter of 2011. Annualized net charge-offs were 1.42 percent of average loans and leases for the second quarter of 2011, compared with 2.08 percent for the second quarter of 2010 and 2.24 percent for the first quarter of 2011.

NPLs were $379.8 million, or 4.12 percent of net loans and leases, at June 30, 2011 compared with $302.3 million, or 3.13 percent of net loans and leases, at June 30, 2010 and $425.0 million, or 4.61 percent of net loans and leases, at March 31, 2011. The allowance for credit losses was 2.14 percent of net loans and leases at June 30, 2011 compared with 2.08 percent at June 30, 2010 and 2.15 percent at March 31, 2011.

Total NPLs at June 30, 2011 consisted primarily of $331.1 million of loans on nonaccrual status, compared with $370.7 million at March 31, 2011. NPLs at June 30, 2011 also included $4.0 million of loans 90 days or more past due and still accruing, a decrease from $4.8 million at March 31, 2011, and restructured loans still accruing of $44.8 million, a decrease from $49.5 million at March 31, 2011. Loans and leases 30 to 89 days past due decreased 6.9 percent to $47.9 million at June 30, 2011 from $51.5 million at March 31, 2011.

At June 30, 2011, approximately 92 percent of non-accrual loans had been determined to be collaterally dependent and had either been charged down or had a specific reserve to reflect values obtained from appraisals. Net of these write-downs and reserves, the remaining book balance of impaired loans was 69 percent of the unpaid principal balance. The allowance for credit losses not specifically allocated to impaired loans represented 550 percent of the remaining unimpaired non-accrual loan balance.

At June 30, 2011, $114.8 million of NPLs were residential CAD loans, $91.4 million were other CAD loans, $66.0 million were commercial real estate mortgage loans and $38.7 million were consumer mortgages. NPLs from all other loan types totaled $68.9 million at June 30, 2011. Included in nonaccrual loans reported at June 30, 2011 were $154.2 million of loans, or 46.6 percent of total nonaccrual loans, that were paying as agreed. These loans were generally placed on nonaccrual status because the collateral values were below the outstanding balances, and because of uncertainty as to whether the borrowers possessed adequate liquidity or will be able to generate sufficient cash flow to satisfy the debt given the short-fall in collateral values. Such loans are generally impaired, with a specific reserve established for the difference in the balance owed and collateral values.

Noninterest Revenue

Noninterest revenue was $75.1 million for the second quarter of 2011, compared with $57.1 million for the second quarter of 2010 and $68.3 million for the first quarter of 2011. These results included value adjustments to mortgage servicing rights (“MSR”) for the second quarter of 2011 and 2010 and the first quarter of 2011 of negative $3.8 million, negative $8.3 million and positive $2.5 million, respectively. In addition, results for the second quarter of 2011 included net securities gains of $10.0 million from the sale of securities.

Excluding the MSR value adjustments, mortgage lending revenue was $5.8 million for the second quarter of 2011, compared with $6.0 million for the second quarter of 2010 and $5.0 million for the first quarter of 2011. Mortgage origination volume for the second quarter of 2011 was $245.3 million, compared with $290.6 million for the second quarter of 2010 and $202.8 million for the first quarter of 2011.

For the second quarter of 2011, credit and debit card fees increased 20.7 percent and 8.9 percent compared with the second quarter of 2010 and the first quarter of 2011, respectively, while service charges declined 12.6 percent and increased 7.7 percent for the same respective periods. Insurance

commission revenue for the second quarter of 2011 increased 5.9 percent compared with the second quarter of 2010, the fifth consecutive comparable quarter increase, and increased 1.7 percent compared with the first quarter of 2011.

Noninterest Expense

Noninterest expense for the second quarter of 2011 was $137.1 million, compared with $120.0 million for the second quarter of 2010 and $130.0 million for the first quarter of 2011. Included in noninterest expense for the second quarter of 2011 was $9.8 million in prepayment expenses related to the early repayment of FHLB advances. Foreclosed property expense decreased 1.3 percent to $3.8 million for the second quarter of 2011 compared with the second quarter of 2010 and 46.8 percent compared with the first quarter of 2011. FDIC insurance expense increased 47.5 percent to $6.4 million for the second quarter of 2011 compared with the second quarter of 2010 and 18.6 percent compared with the first quarter of 2011. Salaries and employee benefits increased 2.9 percent for the second quarter of 2011 compared with the second quarter of 2010 and declined 0.3 percent compared with the first quarter of 2011. Net occupancy expense and equipment expense for the second quarter of 2011 each declined on both a comparable and sequential quarter basis.

Capital Management

BancorpSouth remains a “well capitalized” financial holding company, as defined by federal regulations, with Tier 1 risk-based capital of 10.82 percent at June 30, 2011 and total risk based capital of 12.08 percent, compared with required minimum levels of 6 percent and 10 percent, respectively, to be classified as “well capitalized.” The Company’s equity capitalization is 100 percent common stock. BancorpSouth’s ratio of shareholders’ equity to assets increased to 9.33 percent at June 30, 2011, compared with 9.24 percent at June 30, 2010 and 8.94 percent at March 31, 2011. The ratio of tangible shareholders’ equity to tangible assets increased to 7.32 percent at June 30, 2011, compared with 7.23 percent at June 30, 2010 and 6.95 percent at March 31, 2011.

Summary

Patterson concluded, “We are encouraged by the improvement achieved in our credit costs and other credit metrics for the second quarter, especially with regard to the continued decline of new NPL formation. We are focused on continuing this improvement, although, given the weak economic environment, we are appropriately cautious about the near term. Based on our capital level and liquidity position, as well as the progress achieved to date in addressing our credit issues, we remain confident that our credit issues are manageable and that our measures of credit quality will return to more normal levels over time.

“We continue to be pleased with the solid performance of our core operations, despite a multi-year period in which the financial services industry has not experienced significant loan growth. Throughout this period, we have successfully managed our net interest margin, steadily expanded noninterest revenue and controlled expenses. In addition, we have continued to work to deepen relationships with existing clients and to develop new relationships through our deposit accounts, mortgage lending and other products and services.

“Through the performance of our core operations in a challenging environment, we have enhanced our retail franchise and our ability to produce stronger results in a better economic environment. We continue to expect the strength of this franchise, built on outstanding customer service, comprehensive financial products and services and capital level and liquidity, will enable us to enhance BancorpSouth’s long-term shareholder value as well.”

Conference Call

BancorpSouth will conduct a conference call to discuss its second quarter 2011 results tomorrow, July 26, 2011, at 10:00 a.m. (Central Time). Investors may listen via the Internet by accessing BancorpSouth’s website at http://www.bancorpsouth.com. A replay of the conference call will be available at BancorpSouth’s website for at least two weeks following the call.

Forward-Looking Statements

Certain statements contained in this news release may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “will,” “would,” “could” or “intend.” These forward-looking statements include, without limitation, statements relating to our ability to resolve remaining credit problems, our ability to improve our core operating results, the impact of classifying all securities as available-for-sale, the impact of using proceeds from the sale of securities to prepay certain long-term FHLB advances, the return of credit quality to more normal levels, our ability to expand long-term shareholder value, the ability of borrowers to repay outstanding loans, and our use of non-GAAP financial measures.

We caution you not to place undue reliance on the forward-looking statements contained in this news release in that actual results could differ materially from those indicated in such forward-looking statements because of a variety of factors. These factors may include, but are not limited to, conditions in the financial markets and economic conditions generally, the soundness of other financial institutions, the availability of capital on favorable terms if and when needed, liquidity risk, the credit risk associated with real estate construction, acquisition and development loans, estimates of costs and values associated with real estate construction, acquisition and development loans in the Company’s loan portfolio, the adequacy of the Company’s allowance for credit losses to cover actual credit losses, governmental regulation and supervision of the Company’s operations, the susceptibility of the Company’s business to local economic conditions, the impact of recent legislation and regulations on service charges for core deposit accounts, changes in interest rates, the impact of monetary policies and economic factors on the Company’s ability to attract deposits or make loans, volatility in capital and credit markets, the impact of hurricanes or other adverse weather events, risks in connection with completed or potential acquisitions, dilution caused by the Company’s issuance of any additional shares of its common stock to raise capital or to acquire other banks, bank holding companies, financial holding companies and insurance agencies, restrictions on the Company’s ability to declare and pay dividends, the Company’s growth strategy, diversification in the types of financial services the Company offers, competition with other financial services companies, interruptions or breaches in security of the Company’s information systems, the failure of certain third part vendors to perform, the Company’s ability to improve its internal controls adequately, any requirement that the Company write down goodwill or other intangible assets, other factors generally understood to affect the financial results of financial services companies, and other factors described from time to time in BancorpSouth’s filings with the Securities and Exchange Commission. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

BancorpSouth, Inc. is a financial holding company headquartered in Tupelo, Mississippi, with $13.4 billion in assets. BancorpSouth Bank, a wholly-owned subsidiary of BancorpSouth, Inc., operates approximately 312 commercial banking, mortgage, insurance, trust and broker/dealer locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas. BancorpSouth Bank also operates an insurance location in Illinois.

BXS Announces Second Quarter Results
Page 8
July 25, 2011

BancorpSouth, Inc.
Selected Financial Data

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2011				2010				2011				2010
(Dollars in thousands, except per share amounts)
Earnings Summary:
Net interest revenue		$	109,912			$	109,329			$	219,349			$	221,211
Provision for credit losses			32,240				62,354				85,719				105,873
Noninterest revenue			75,144				57,086				143,455				120,418
Noninterest expense			137,069				120,016				267,079				240,499
Income (loss) before income taxes			15,747				(15,955	)			10,006				(4,743	)
Income tax provision (benefit)			2,921				(3,395	)			(2,326	)			(579	)
Net income (loss)		$	12,826				($12,560	)		$	12,332				($4,164	)
Earning (loss) per share: Basic		$	0.15				($0.15	)		$	0.15				($0.05	)
Diluted		$	0.15				($0.15	)		$	0.15				($0.05	)
Balance sheet data at June 30:
Total assets										$	13,367,050			$	13,421,004
Total earning assets											12,150,240				12,038,779
Loans and leases, net of unearned income											9,214,553				9,646,902
Allowance for credit losses											197,627				200,744
Total deposits											11,308,463				11,220,641
Common shareholders’ equity											1,246,703				1,240,259
Book value per share											14.93				14.86
Average balance sheet data:
Total assets		$	13,365,560			$	13,223,506			$	13,452,183			$	13,175,605
Total earning assets			12,227,751				12,110,349				12,310,799				12,045,309
Loans and leases, net of unearned interest			9,249,127				9,703,253				9,274,415				9,734,994
Total deposits			11,355,871				11,075,655				11,426,363				10,977,508
Common shareholders’ equity			1,222,281				1,245,786				1,220,851				1,255,543
Non-performing assets at June 30:
Non-accrual loans and leases										$	331,076			$	263,758
Loans and leases 90+ days past due, still accruing											3,980				17,696
Restructured loans and leases, still accruing											44,786				20,813
Other real estate owned											151,204				67,560
Total non-performing assets											531,046				369,827
Net charge-offs as a percentage of average loans (annualized)			1.42	%			2.08	%			1.83	%			1.67	%
Performance ratios (annualized):
Return on average assets			0.38	%			(0.38	%)			0.18	%			(0.06	%)
Return on common equity			4.21	%			(4.04	%)			2.04	%			(0.67	%)
Total shareholders’ equity to total assets			9.33	%			9.24	%			9.33	%			9.24	%
Tangible shareholders’ equity to tangible assets			7.32	%			7.23	%			7.32	%			7.23	%
Net interest margin			3.71	%			3.71	%			3.70	%			3.79	%
Average shares outstanding — basic			83,453,580				83,429,120				83,451,257				83,416,465
Average shares outstanding — diluted			83,513,889				83,429,120				83,510,598				83,416,465
Cash dividends per share		$	0.01			$	0.22			$	0.12			$	0.44
Tier I capital			10.82%	(1)			10.53	%			10.82%	(1)			10.53	%
Total capital			12.08%	(1)			11.79	%			12.08%	(1)			11.79	%
Tier I leverage capital			8.22%	(1)			8.35	%			8.22%	(1)			8.35	%

BXS Announces Second Quarter Results
Page 9
July 25, 2011

BancorpSouth, Inc.
Consolidated Balance Sheets
(Unaudited)

		Jun-11				Mar-11				Dec-10				Sep-10				Jun-10
		(Dollars in thousands)
Assets
Cash and due from banks		$	166,761			$	146,989			$	99,916			$	128,160			$	370,499
Interest bearing deposits with other banks			304,344				102,312				172,170				211,189				111,040
Held-to-maturity securities, at amortized cost			—				1,667,203				1,613,019				1,357,888				1,147,157
Available-for-sale securities, at fair value			2,560,824				1,145,463				1,096,062				915,877				962,692
Federal funds sold and securities purchased under agreement to resell			—				150,000				150,000				325,000				75,000
Loans and leases			9,255,879				9,255,609				9,376,351				9,556,962				9,691,623
Less: Unearned income			41,326				41,773				43,244				42,033				44,721
Allowance for credit losses			197,627				198,333				196,913				205,081				200,744
Net loans and leases			9,016,926				9,015,503				9,136,194				9,309,848				9,446,158
Loans held for sale			70,519				56,876				93,697				125,815				95,987
Premises and equipment, net			328,075				329,862				332,890				335,618				336,645
Accrued interest receivable			55,525				61,105				61,025				63,797				63,862
Goodwill			271,297				271,297				270,097				270,097				270,097
Bank owned life insurance			197,028				194,988				194,064				192,459				190,828
Other real estate owned			151,204				136,412				133,412				82,647				67,560
Other assets			244,547				269,228				262,464				264,621				283,479
Total Assets		$	13,367,050			$	13,547,238			$	13,615,010			$	13,583,016			$	13,421,004
Liabilities
Deposits:
Demand: Noninterest bearing		$	2,096,655			$	2,027,990			$	2,060,145			$	1,967,635			$	1,897,977
Interest bearing			4,939,553				5,023,073				4,931,518				4,623,103				4,725,457
Savings			944,993				932,574				863,034				801,153				770,112
Other time			3,327,262				3,480,477				3,635,324				3,804,973				3,827,095
Total deposits			11,308,463				11,464,114				11,490,021				11,196,864				11,220,641
Federal funds purchased and securities sold under agreement to repurchase			426,097				421,782				440,593				501,175				481,109
Short-term Federal Home Loan Bank borrowings and other short-term borrowing			703				2,715				2,727				152,738				3,500
Accrued interest payable			11,348				13,238				14,336				16,574				17,508
Junior subordinated debt securities			160,312				160,312				160,312				160,312				160,312
Long-term Federal Home Loan Bank borrowings			35,000				110,000				110,000				110,000				110,749
Other liabilities			178,424				164,016				174,777				209,648				186,926
Total Liabilities			12,120,347				12,336,177				12,392,766				12,347,311				12,180,745
Shareholders’ Equity
Common stock			208,722				208,704				208,704				208,704				208,704
Capital surplus			226,362				225,597				224,976				224,170				223,922
Accumulated other comprehensive income (loss)			6,289				(16,579	)			(14,453	)			(2,705	)			(5,008	)
Retained earnings			805,330				793,339				803,017				805,536				812,641
Total Shareholders’ Equity			1,246,703				1,211,061				1,222,244				1,235,705				1,240,259
Total Liabilities & Shareholders’ Equity		$	13,367,050			$	13,547,238			$	13,615,010			$	13,583,016			$	13,421,004

BXS Announces Second Quarter Results
Page 10
July 25, 2011

BancorpSouth, Inc.
Consolidated Average Balance Sheets
(Unaudited)

		Jun-11				Mar-11				Dec-10				Sep-10				Jun-10
		(Dollars in thousands)
Assets
Cash and due from banks		$	151,194			$	156,329			$	176,979			$	202,147			$	179,482
Interest bearing deposits with other banks			187,901				167,271				282,396				75,943				26,252
Held-to-maturity securities, at amortized cost			1,097,562				1,653,284				1,436,222				1,223,676				1,157,793
Available-for-sale securities, at fair value			1,609,720				1,085,131				996,006				917,677				893,490
Federal funds sold and securities purchased under agreement to resell			38,736				150,000				209,511				282,228				269,365
Loans and leases			9,291,434				9,342,939				9,461,161				9,645,252				9,749,954
Less: Unearned income			42,307				42,954				42,474				44,110				46,701
Allowance for credit losses			212,968				218,107				215,278				227,201				216,378
Net loans and leases			9,036,159				9,081,878				9,203,409				9,373,941				9,486,875
Loans held for sale			44,704				39,098				91,262				81,004				60,195
Premises and equipment, net			328,829				330,920				333,516				336,038				338,255
Accrued interest receivable			54,570				58,450				58,591				61,753				62,360
Goodwill			271,297				270,510				270,097				270,097				270,097
Bank owned life insurance			14,189				13,217				9,836				12,394				11,200
Other assets			530,699				533,675				491,213				467,984				468,142
Total Assets		$	13,365,560				13,539,763				13,559,038				13,304,882				13,223,506
Liabilities
Deposits:
Demand: Noninterest bearing		$	2,018,197				1,893,720				1,975,318				1,911,125				1,855,598
Interest bearing			4,977,764				5,153,063				4,740,734				4,651,166				4,635,078
Savings			941,169				897,312				831,805				786,267				770,665
Other time			3,418,741				3,553,543				3,745,046				3,829,068				3,814,314
Total deposits			11,355,871				11,497,638				11,292,903				11,177,626				11,075,655
Federal funds purchased and securities sold under agreement to repurchase			423,949				430,930				475,760				476,853				483,608
Short-term Federal Home Loan Bank borrowings and other short-term borrowing			1,641				2,719				147,839				6,426				2,302
Accrued interest payable			13,558				14,873				16,811				18,239				19,685
Junior subordinated debt securities			160,312				160,312				160,312				160,312				160,312
Long-term Federal Home Loan Bank borrowings			89,395				110,000				110,000				110,734				112,731
Other liabilities			98,553				103,892				129,899				125,546				123,427
Total Liabilities			12,143,279				12,320,364				12,333,524				12,075,736				11,977,720
Shareholders’ Equity
Common stock			208,715				208,704				208,704				208,704				208,684
Capital surplus			225,912				225,162				224,357				224,168				223,893
Accumulated other comprehensive income (loss)			(10,040	)			(14,346	)			(3,331	)			(4,983	)			(10,583	)
Retained earnings			797,694				799,879				795,784				801,257				823,792
Total Shareholders’ Equity			1,222,281				1,219,399				1,225,514				1,229,146				1,245,786
Total Liabilities & Shareholders’ Equity		$	13,365,560			$	13,539,763			$	13,559,038			$	13,304,882			$	13,223,506

BXS Announces Second Quarter Results
Page 11
July 25, 2011

BancorpSouth, Inc.
Consolidated Condensed Statements of Income
(Dollars in thousands, except per share data)
(Unaudited)

		Quarter Ended																				Year To Date
		Jun-11				Mar-11				Dec-10				Sep-10				Jun-10				Jun-11				Jun-10
INTEREST REVENUE:
Loans and leases		$	116,892			$	117,358			$	121,672			$	123,533			$	124,621			$	234,250			$	251,577
Deposits with other banks			124				122				222				79				33				246				54
Federal funds sold and securities purchased under agreement to resell			35				131				168				213				143				166				225
Held-to-maturity securities:
Taxable			5,066				8,014				8,490				9,010				9,363				13,080				18,778
Tax-exempt			2,291				3,347				2,952				2,584				2,412				5,638				4,873
Available-for-sale securities:
Taxable			10,451				8,585				7,836				7,782				8,030				19,036				16,415
Tax-exempt			1,871				824				815				795				833				2,695				1,665
Loans held for sale			505				447				902				889				727				952				1,233
Total interest revenue			137,235				138,828				143,057				144,885				146,162				276,063				294,820
INTEREST EXPENSE:
Interest bearing demand			6,039				6,546				7,462				8,582				9,751				12,585				19,143
Savings			810				826				891				881				915				1,636				1,804
Other time			16,285				17,483				19,827				21,108				21,535				33,768				43,064
Federal funds purchased and securities sold under agreement to repurchase			135				152				189				209				215				287				443
FHLB borrowings			1,194				1,523				1,569				1,543				1,553				2,717				3,433
Junior subordinated debt			2,860				2,859				2,864				2,880				2,862				5,719				5,717
Other			—				2				2				4				2				2				5
Total interest expense			27,323				29,391				32,804				35,207				36,833				56,714				73,609
Net interest revenue			109,912				109,437				110,253				109,678				109,329				219,349				221,211
Provision for credit losses			32,240				53,479				43,293				54,850				62,354				85,719				105,873
Net interest revenue, after provision for credit losses			77,672				55,958				66,960				54,828				46,975				133,630				115,338
NONINTEREST REVENUE:
Mortgage lending			2,003				7,581				18,126				8,898				(2,304	)			9,584				2,721
Credit card, debit card and merchant fees			11,263				10,346				9,951				9,569				9,333				21,609				18,143
Service charges			16,556				15,368				16,854				18,621				18,953				31,924				35,215
Trust income			2,850				3,134				3,072				2,783				2,707				5,984				5,294
Security gains (losses), net			10,045				17				(470	)			2,327				(585	)			10,062				712
Insurance commissions			22,941				22,549				18,013				20,825				21,666				45,490				43,334
Other			9,486				9,316				8,428				6,729				7,316				18,802				14,999
Total noninterest revenue			75,144				68,311				73,974				69,752				57,086				143,455				120,418
NONINTEREST EXPENSES:
Salaries and employee benefits			70,142				70,375				65,980				68,232				68,189				140,517				137,476
Occupancy, net of rental income			10,232				10,671				10,668				11,038				10,527				20,903				21,302
Equipment			5,595				5,658				5,459				5,523				5,877				11,253				11,616
Deposit insurance assessments			6,436				5,425				5,895				4,752				4,362				11,861				8,612
Prepayment penalty on FHLB borrowings			9,778				—				—				—				—				9,778				—
Other			34,886				37,881				35,445				33,542				31,061				72,767				61,493
Total noninterest expenses			137,069				130,010				123,447				123,087				120,016				267,079				240,499
Income (loss) before income taxes			15,747				(5,741	)			17,487				1,493				(15,955	)			10,006				(4,743	)
Income tax expense (benefit)			2,921				(5,247	)			1,641				(9,767	)			(3,395	)			(2,326	)			(579	)
Net income (loss)		$	12,826				($494	)		$	15,846			$	11,260				($12,560	)		$	12,332				($4,164	)
Net income (loss) per share: Basic		$	0.15				($0.01	)		$	0.19			$	0.13				($0.15	)		$	0.15				($0.05	)
Diluted		$	0.15				($0.01	)		$	0.19			$	0.13				($0.15	)		$	0.15				($0.05	)

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BXS Announces Second Quarter Results
Page 12
July 25, 2011

BancorpSouth, Inc.
Selected Loan Data
(Dollars in thousands)
(Unaudited)

		Quarter Ended
		Jun-11				Mar-11				Dec-10				Sep-10				Jun-10
LOAN AND LEASE PORTFOLIO:
Commercial and industrial		$	1,526,686			$	1,484,223			$	1,491,183			$	1,438,415			$	1,483,335
Real estate
Consumer mortgages			1,971,499				1,958,367				1,951,563				1,972,483				1,981,475
Home equity			531,787				531,406				543,272				552,095				555,281
Agricultural			255,310				250,393				252,292				262,083				260,489
Commercial and industrial-owner occupied			1,366,734				1,316,824				1,331,473				1,375,466				1,407,704
Construction, acquisition and development			1,060,675				1,117,335				1,174,743				1,335,836				1,419,303
Commercial			1,764,648				1,831,226				1,816,951				1,810,626				1,794,644
Credit cards			101,955				100,732				106,345				102,672				102,784
All other			635,259				623,330				665,285				665,253				641,888
Total loans		$	9,214,553			$	9,213,836			$	9,333,107			$	9,514,929			$	9,646,903
ALLOWANCE FOR CREDIT LOSSES:
Balance, beginning of period		$	198,333			$	196,913			$	205,081			$	200,744			$	188,884
Loans and leases charged off:
Commercial and industrial			(5,556	)			(8,809	)			(1,782	)			(2,822	)			(5,106	)
Real estate
Consumer mortgages			(1,629	)			(3,260	)			(5,291	)			(3,398	)			(2,993	)
Home equity			(1,391	)			(1,082	)			(1,138	)			(1,792	)			(602	)
Agricultural			(373	)			(592	)			(487	)			(33	)			(473	)
Commercial and industrial-owner occupied			(3,228	)			(1,716	)			(1,659	)			(1,231	)			(3,845	)
Construction, acquisition and development			(16,783	)			(32,343	)			(34,989	)			(38,517	)			(33,321	)
Commercial			(1,597	)			(4,514	)			(6,327	)			(2,887	)			(2,593	)
Credit cards			(725	)			(881	)			(990	)			(1,046	)			(1,363	)
All other			(4,971	)			(553	)			(2,093	)			(798	)			(2,067	)
Total loans charged off			(36,253	)			(53,750	)			(54,756	)			(52,524	)			(52,363	)
Recoveries:
Commercial and industrial			589				184				707				318				242
Real estate
Consumer mortgages			220				143				423				143				818
Home equity			46				45				60				23				43
Agricultural			45				2				4				8				—
Commercial and industrial-owner occupied			21				173				195				154				44
Construction, acquisition and development			1,493				564				776				663				211
Commercial			392				13				707				98				27
Credit cards			239				255				143				317				219
All other			262				312				280				287				265
Total recoveries			3,307				1,691				3,295				2,011				1,869
Net charge-offs			(32,946	)			(52,059	)			(51,461	)			(50,513	)			(50,494	)
Provision charged to operating expense			32,240				53,479				43,293				54,850				62,354
Other, net			—				—				—				—				—
Balance, end of period		$	197,627			$	198,333			$	196,913			$	205,081			$	200,744
Average loans for period		$	9,249,127			$	9,300,029			$	9,418,687			$	9,601,142			$	9,703,253
Ratios:
Net charge-offs to average loans (annualized)			1.42	%			2.24	%			2.19	%			2.10	%			2.08	%

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BXS Announces Second Quarter Results
Page 13
July 25, 2011

BancorpSouth, Inc.
Selected Loan Data
(Dollars in thousands)
(Unaudited)

		Quarter Ended
		Jun-11				Mar-11				Dec-10				Sep-10				Jun-10
NON-PERFORMING ASSETS
NON-PERFORMING LOANS AND LEASES:
Nonaccrual Loans and Leases
Commercial and industrial		$	9,337			$	14,655			$	13,075			$	12,339			$	6,280
Real estate
Consumer mortgages			34,174				36,025				34,021				25,561				22,618
Home equity			1,232				1,543				811				1,361				1,565
Agricultural			8,526				7,597				7,589				4,986				3,972
Commercial and industrial-owner occupied			26,387				24,638				20,338				15,004				12,061
Construction, acquisition and development			200,434				224,847				211,547				231,987				174,725
Commercial			48,571				58,945				57,766				51,590				38,921
Credit cards			546				617				720				724				726
All other			1,869				1,859				1,632				3,629				2,890
Total nonaccrual loans and leases			331,076				370,726				347,499				347,181				263,758
Loans and Leases 90+ Days Past Due, Still Accruing:
Commercial and industrial			118				501				675				1,571				7,093
Real estate
Consumer mortgages			2,482				3,152				6,521				6,241				4,754
Home equity			242				139				173				146				—
Agricultural			—				7				123				330				—
Commercial and industrial-owner occupied			—				255				20				192				733
Construction, acquisition and development			432				19				197				526				1,490
Commercial			19				7				—				115				3,068
Credit cards			299				240				330				396				228
All other			388				509				461				393				330
Total loans and leases 90+ past due, still accruing			3,980				4,829				8,500				9,910				17,696
Restructured Loans and Leases, Still Accruing			44,786				49,472				38,376				52,325				20,813
Total non-performing loans and leases			379,842				425,027				394,375				409,416				302,267
OTHER REAL ESTATE OWNED:			151,204				136,412				133,412				82,647				67,560
Total Non-performing Assets		$	531,046			$	561,439			$	527,787			$	492,063			$	369,827
Additions to Nonaccrual Loans and Leases During the Quarter		$	50,427			$	111,241			$	131,140			$	166,171			$	136,267
Loans and Leases 30-89 Days Past Due, Still Accruing:
Commercial and industrial		$	7,903			$	8,407			$	13,654			$	10,581			$	10,081
Real estate
Consumer mortgages			18,621				17,136				19,147				22,490				30,286
Home equity			2,916				2,492				1,906				3,088				2,664
Agricultural			2,901				818				1,122				1,101				2,312
Commercial and industrial-owner occupied			2,786				4,369				10,183				16,385				20,975
Construction, acquisition and development			4,939				8,047				6,758				11,538				50,759
Commercial			4,091				7,090				3,823				4,657				8,084
Credit cards			785				969				1,023				799				1,220
All other			3,005				2,192				2,766				3,143				4,472
Total Loans and Leases 30-89 days past due, still accruing		$	47,947			$	51,520			$	60,382			$	73,782			$	130,853
Credit Quality Ratios:
Provision for credit losses to average loans and leases (annualized)			1.39	%			2.30	%			1.84	%			2.29	%			2.57	%
Allowance for credit losses to net loans and leases			2.14	%			2.15	%			2.11	%			2.16	%			2.08	%
Allowance for credit losses to non-performing assets			37.21	%			35.33	%			37.31	%			41.68	%			54.28	%
Allowance for credit losses to non-performing loans and leases			52.03	%			46.66	%			49.93	%			50.09	%			66.41	%
Non-performing loans and leases to net loans and leases			4.12	%			4.61	%			4.23	%			4.30	%			3.13	%
Non-performing assets to net loans and leases			5.76	%			6.09	%			5.65	%			5.17	%			3.83	%