BancorpSouth's Agency Deal to Strengthen It in Key State

By Gjertsen, Lee Ann | American Banker, July 17, 2003 | Go to article overview

BancorpSouth's Agency Deal to Strengthen It in Key State


Gjertsen, Lee Ann, American Banker


BancorpSouth's second agency deal in three months was made in Arkansas, a big market for the banking company but a new one for its insurance operation.

"BancorpSouth has a strong banking presence in Arkansas," with about 20% of its business coming from its 47 branches in that state, said James Threadgill, an executive vice president at the Tupelo, Miss., banking company.

BancorpSouth's deal, an-nounced Monday, was an agreement to buy Ramsey, Krug, Farrell & Lensing Inc. in Little Rock.

The agency is on track to bring in about $13 million of revenue this year, Mr. Threadgill said.

When the deal closes, Ramsey Krug's contribution will bring BancorpSouth's annual property/casualty insurance revenue to between $45 million and $50 million. Including the platform annuities program, the bank expects more than $50 million of insurance revenue, Mr. Thread-gill said.

BancorpSouth chairman and chief executive officer Aubrey Patterson said in a statement that the agency's "reputation both inside and outside their industry positions them well to continue the strong business trend they have enjoyed and to generate noninterest income for our institution."

Mr. Patterson added, "This is our fourth major insurance agency acquisition in four years, and we will consider other similar acquisitions."

In 1999, BancorpSouth bought Stewart Sneed Hewes Inc. of Gulfport, Miss. In 2000, it acquired two smaller Jackson, Miss., agencies, Pittman Insurance and Kilgore, Seay and Turner in one deal.

Most recently, in May 2003, BancorpSouth bought Wright & Percy of Baton Rouge, La.

The company's Louisiana agency deal was unusual because it has no bank branches in Baton Rouge, though it does have several elsewhere in the state.

Though Mr. Threadgill declined to predict the company's expansion plans for Baton Rouge at the time of the Wright & Percy deal, he did say BancorpSouth had a "keen interest" in expanding its various businesses in Louisiana and was looking to Wright & Percy as a foundation for insurance growth in the state.

This week's deal, however, is right in the center of a key market for the bank, which has several branches in Little Rock and nearby communities.

Mr. Threadgill said the group of agencies fit together well both geographically and culturally. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

BancorpSouth's Agency Deal to Strengthen It in Key State
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.