Exhibit 99.1

News Release

Contact:
William L. Prater		Gary C. Bonds
Treasurer and Chief Financial		Senior Vice President and
Officer		Principal Accounting Officer
662/680-2000		662/680-2332

BancorpSouth Reports Fourth Quarter 2010 Earnings of $0.19 per Diluted Share

TUPELO, Miss., January 27, 2011/PRNewswire-FirstCall via COMTEX/ — BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter ended December 31, 2010. The Company had net income of $15.8 million, or $0.19 per diluted share, for the quarter compared with a net loss of $2.1 million, or $0.03 per diluted share, for the fourth quarter of 2009.

Aubrey Patterson, Chairman and Chief Executive Officer of BancorpSouth, commented, “We are encouraged by the improvement in the Company’s performance during the fourth quarter. While the credit market remains challenging, we experienced a 3.7% decline in non-performing loans, 30 — 89 day past due loans continued to decline, and we saw a decline in the provision for credit losses as required reserves for impaired loans declined and levels of adversely classified loans decreased. While we still have far to go to return to the level of financial performance we expect at BancorpSouth, we feel that we are moving in the right direction.

“The increase in earnings for the fourth quarter of 2010 compared with the net loss for the fourth quarter of 2009 primarily resulted from a $19.0 million, or 30.5 percent, decline in the provision for credit losses to $43.3 million for the fourth quarter of 2010 from $62.3 million for the fourth quarter of 2009. In addition, noninterest revenue increased $9.5 million, or 14.7 percent, for the fourth quarter of 2010 from the fourth quarter of 2009. Mortgage lending revenue, excluding the fair value adjustments to the Company’s mortgage servicing rights (MSRs), increased 32.7% for the fourth quarter of 2010 compared to the same quarter of 2009, $9.2 million versus $7.0 million, respectively.

“Non-performing loans and leases (NPLs) declined to $394.4 million at December 31, 2010 from $409.4 million at September 30, 2010. This decrease was primarily attributable to a decrease in non-accrual construction, acquisition and development (CAD) loans of $17.5 million. This loan category has been the segment most significantly affected by the economic downturn, particularly those loans related to housing. This category has also accounted for over 60% of net charge-offs in 2010. As in prior quarters, the Company’s NPLs remain concentrated in certain geographic areas. The Alabama, Nashville and Greater Memphis, Tennessee markets continue to be affected by the slow housing markets while several larger loans are reflected in our Missouri Region’s NPLs.”

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Box 789 • Tupelo, MS 38802-0789 • (662) 680-2000
BancorpSouth, Inc. is a financial holding company.

BXS Announces Fourth Quarter Results
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January 27, 2011

Patterson added, “We believe that we remain appropriately reserved for losses inherent in our loan portfolio. At December 31, 2010, approximately 79 percent of our 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 67 percent of the unpaid principal balance. The allowance for credit losses not specifically allocated to impaired loans represented 211 percent of the remaining unimpaired non-accrual loan balance.

“BancorpSouth’s pre-tax, pre-provision earnings for the fourth quarter of 2010 increased to $60.8 million from $53.5 million for the fourth quarter of 2009 and $56.3 million for the third quarter of 2010. We attribute the relative consistency of these operating results to the stability reflected in our net interest revenue, the strength of our mortgage production and servicing operations, effective cost management and the steadiness of the aggregate results from our other noninterest revenue streams.

“Based on this performance, we continue to be encouraged about BancorpSouth’s ability to produce stronger financial results as our credit metrics continue to improve. While the improvement in our fourth quarter NPLs is an important step in returning to a more normalized level of financial performance, we realize that there is much work yet to be completed to realize that goal. We must build on this momentum in the quarters to come. We do not underestimate the challenges to returning our credit metrics to their historical levels, but with the progress achieved throughout 2010 and with continuing strong capital and liquidity, we enter 2011 confident that we are on the right path to achieve that goal.”

Net Interest Revenue

Net interest revenue was $110.3 million for the fourth quarter of 2010, a decrease of 1.9 percent from $112.3 million for the fourth quarter of 2009 and a 0.5 percent increase from $109.7 million for the third quarter of 2010. The fully taxable equivalent net interest margin was 3.59 percent for the fourth quarter of 2010, compared with 3.81 percent for the fourth quarter of 2009 and 3.64 percent for the third quarter of 2010.

The Company continues to manage through the prolonged low interest rate environment very effectively. The decline in net interest margin for the fourth quarter of 2010 from the third quarter of 2010 was primarily the result of lower yields on the investment portfolio. Yields on loans have remained relatively stable, and overall rates on interest bearing liabilities have continued to decline. Weak loan demand continues to challenge growth in earning assets.

Asset, Deposit and Loan Activity

Total assets at December 31, 2010 were $13.6 billion, an increase of 3.4 percent compared with $13.2 billion at December 31, 2009. Total deposits were $11.5 billion at December 31, 2010, an increase of 7.6 percent from $10.7 billion at December 31, 2009. Loans and leases, net of unearned income, were $9.3 billion at December 31, 2010, a decrease of 4.5 percent from $9.8 billion at December 31, 2009.

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BXS Announces Fourth Quarter Results
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January 27, 2011

The decline in loans and leases remained concentrated in the construction, acquisition and development loan portfolio, which decreased $311.3 million, or 21.3 percent, during 2010. Excluding the impact of the CAD loan portfolio, net loans and leases declined $130.7 million, or 1.6 percent, for the year ended December 31, 2010.

The significant growth in BancorpSouth’s deposits during 2010 reflected an increase of 8.3 percent and 14.1 percent in noninterest bearing and interest bearing demand deposits, respectively, and a 19.0 percent increase in savings deposits. While the present economic environment has limited the Company’s ability to invest this additional funding in loans, the Company has continued to capitalize on the opportunity to grow core deposits by both increasing new relationships and strengthening existing relationships.

Provision for Credit Losses and Allowance for Credit Losses

For the fourth quarter of 2010, the provision for credit losses was $43.3 million, compared with $62.3 million for the fourth quarter of 2009 and $54.9 million for the third quarter of 2010. Annualized net charge-offs were 2.19 percent of average loans and leases for the fourth quarter of 2010, compared with 1.27 percent for the fourth quarter of 2009 and 2.10 percent for the third quarter of 2010.

NPLs were $394.4 million, or 4.23 percent of net loans and leases, at December 31, 2010 compared to $186.5 million, or 1.91 percent of net loans and leases, at December 30, 2009 and $409.4 million, or 4.30 percent of net loans and leases, at September 30, 2010. The allowance for credit losses was 2.11 percent of net loans and leases at December 31, 2010 compared to 1.80 percent at December 30, 2009 and 2.16 percent at September 30, 2010.

Total NPLs at December 31, 2010 consisted of: $347.5 million of loans on nonaccrual status, virtually unchanged from $347.2 million at September 30, 2010; $8.5 million of loans 90 days or more past due and still accruing, a decrease from $9.9 million at September 30, 2010; and restructured loans still accruing of $38.4 million, a decrease from $52.3 million at September 30, 2010. Loans and leases 30 to 89 days past due decreased 18.2 percent to $60.4 million at December 31, 2010 from $73.8 million at September 30, 2010.

At the end of the fourth quarter of 2010, $111.9 million of NPLs were residential CAD loans, $89.5 million were other CAD loans, $74.1 million were commercial real estate mortgage loans and $56.3 million were consumer mortgages. NPLs from all other loan types totaled $62.6 million.

Other real estate owned increased during the fourth quarter to $133.4 million, compared to $59.3 million at December 31, 2009 and $82.6 million at September 30, 2010. This net increase from the third quarter reflected $62.7 million added through foreclosure, less sales of other real estate owned of $8.5 million, and write-downs in value of existing properties of $3.4 million.

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BXS Announces Fourth Quarter Results
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January 27, 2011

Noninterest Revenue

Noninterest revenue was $74.0 million for the fourth quarter of 2010, compared with $64.5 million for the fourth quarter of 2009 and $69.8 million for the third quarter of 2010. This growth was primarily related to mortgage production and servicing operations. Mortgage origination volume was $452 million for the fourth quarter of 2010 and mortgage lending revenue was $18.1 million, which included an $8.9 million positive MSR fair value adjustment. For the fourth quarter of 2009, mortgage origination volume was $314 million and mortgage lending revenue was $8.6 million, including a $1.6 million positive MSR fair value adjustment, and for the third quarter of 2010, mortgage origination volume was $490 million and mortgage lending revenue was $8.9 million, including a $4.6 million negative MSR fair value adjustment.

Noninterest revenue for the fourth quarter of 2010 from credit and debit card fees and trust income increased on a comparable and sequential quarter basis. Insurance commission revenue increased from the comparable quarter in 2009, but declined $2.8 million from the third quarter of 2010, which was attributable to seasonality in that line of business. Service charge income declined $1.8 million from the third quarter of 2010 to $16.9 million as the first full quarter of mandated changes in overdraft regulations were in effect. The Company recorded a security loss of $0.5 million for the fourth quarter of 2010, compared with a loss of $0.1 million for the fourth quarter of 2009 and a gain of $2.3 million for the third quarter of 2010.

Noninterest Expense

Noninterest expense for the fourth quarter of 2010 was $123.4 million, unchanged from the fourth quarter of 2009 and comparable to $123.1 million for the third quarter of 2010. Included in these results, FDIC insurance expense was $5.9 million for the fourth quarter of 2010 compared with $3.8 million for the fourth quarter of 2009 and $4.8 million for the third quarter of 2010. Foreclosed property expense decreased to $6.1 million for the fourth quarter of 2010 from $6.3 million for the fourth quarter of 2009 and increased from $4.9 million for the third quarter of 2010. Salaries and employee benefits, net occupancy and equipment expenses for the fourth quarter of 2010 declined on both a comparable and sequential quarter basis.

Capital Management

BancorpSouth’s commitment to a strong capital base is one of its fundamental strengths. The Company’s equity capitalization is 100 percent common stock. BancorpSouth’s ratio of shareholders’ equity to assets was 8.98 percent at December 31, 2010, compared with 9.69 percent at December 31, 2009. The ratio of tangible equity to tangible assets was 7.00 percent at December 31, 2010, compared with 7.63 percent at December 31, 2009. BancorpSouth remains a “well capitalized” financial holding company, as defined by federal regulations, with Tier 1 risk-based capital of 10.61 percent at December 31, 2010 and total risk based capital of 11.87 percent, compared with required minimum levels of 6 percent and 10 percent, respectively, to be classified as “well capitalized.”

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BXS Announces Fourth Quarter Results
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January 27, 2011

Summary

Patterson concluded, “After a most challenging year, BancorpSouth entered 2011 with strong capital and ample liquidity, a growing and demographically appealing eight-state franchise, a relatively attractive net interest margin and stable pre-tax, pre-provision earnings. While we expect to continue our primary focus on providing superior service to customers within our existing network, we have the expertise, financial resources and strategic clarity to leverage current industry turmoil and consolidation in support of our long-term growth objectives.

“Our challenges for 2011 are clear. With high unemployment and modest economic growth, we are cautious about our ability to expand our loan portfolio with high quality credits. In this environment, we are highly focused on continuing to work through any remaining credit issues to sustain the positive trends evident in our fourth quarter results.

“We believe BancorpSouth is well positioned strategically, especially if early indications of economic growth prove sustainable. Although uncertain about the strength of the economy in 2011, we are confident that we will continue to manage effectively and conservatively in the coming year, maintain a strong capital base and strong liquidity, remain appropriately reserved against losses inherent in our loan portfolio and build the value of our banking franchise.”

Conference Call

BancorpSouth will conduct a conference call to discuss its fourth quarter 2010 results tomorrow, January 28, 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 financial performance, our reserve for losses, returning our credit metrics to historic levels, our ability to provide superior services to our customers, our economic growth, our ability to manage, our capital and liquidity, our ability to build the value of our franchise 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, levels of market volatility, the availability of capital if the Company elects or is compelled to seek additional capital, liquidity risk, the credit risk associated with real estate

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January 27, 2011

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, changes in interest rates, the impact of monetary policies and economic factors on the Company’s ability to attract deposits or make loans, 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 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 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 $13.6 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.

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BXS Announces Fourth Quarter Results
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January 27, 2011

BancorpSouth, Inc.
Selected Financial Data

		Three Months Ended								Twelve Months Ended
		December 31,								December 31,
(Dollars in thousands, except per share amounts)		2010				2009				2010				2009
Earnings Summary:
Net interest revenue		$	110,253			$	112,347			$	441,142			$	444,899
Provision for credit losses			43,293				62,271				204,016				117,324
Noninterest revenue			73,974				64,505				264,144				275,276
Noninterest expense			123,447				123,361				487,033				490,017
Income (loss) before income taxes			17,487				(8,780	)			14,237				112,834
Income tax provision (benefit)			1,641				(6,634	)			(8,705	)			30,105
Net income (loss)		$	15,846				($2,146	)		$	22,942			$	82,729
Earning (loss) per share: Basic		$	0.19				($0.03	)		$	0.28			$	0.99
Diluted		$	0.19				($0.03	)		$	0.27			$	0.99
Balance sheet data at December 31:
Total assets										$	13,615,010			$	13,167,867
Total earning assets											12,458,055				11,939,776
Loans and leases, net of unearned income											9,333,107				9,775,136
Allowance for credit losses											196,913				176,043
Total deposits											11,490,021				10,677,702
Common shareholders’ equity											1,222,244				1,276,296
Book value per share											14.64				15.29
Average balance sheet data:
Total assets		$	13,559,038			$	13,065,172			$	13,304,836			$	13,203,659
Total earning assets			12,510,705				11,966,504				12,223,933				12,078,437
Loans and leases, net of unearned interest			9,418,687				9,750,989				9,621,529				9,734,580
Total deposits			11,292,903				10,448,617				11,107,445				10,155,730
Common shareholders’ equity			1,225,514				1,266,989				1,241,321				1,255,605
Non-performing assets at December 31:
Non-accrual loans and leases										$	347,499			$	144,013
Loans and leases 90+ days past due, still accruing											8,500				36,301
Restructured loans and leases, still accruing											38,376				6,161
Other real estate owned											133,412				59,265
Total non-performing assets											527,787				245,740
Net charge-offs as a percentage of average loans (annualized)			2.19	%			1.27	%			1.90	%			0.76	%
Performance ratios (annualized):
Return on average assets			0.46	%			(0.07	%)			0.17	%			0.63	%
Return on common equity			5.13	%			(0.67	%)			1.85	%			6.59	%
Total shareholders’ equity to total assets			8.98	%			9.69	%			8.98	%			9.69	%
Tangible shareholders’ equity to tangible assets			7.00	%			7.63	%			7.00	%			7.63	%
Net interest margin			3.59	%			3.81	%			3.70	%			3.77	%
Average shares outstanding — basic			83,435,268				83,399,113				83,425,183				83,295,461
Average shares outstanding — diluted			83,471,420				83,527,596				83,515,040				83,430,505
Cash dividends per share		$	0.22			$	0.22			$	0.88			$	0.88
Tier I capital			10.61	%(1)			11.17	%			10.61	%(1)			11.17	%
Total Capital			11.87	%(1)			12.42	%			11.87	%(1)			12.42	%
Tier I leverage capital			8.07	%(1)			8.95	%			8.07	%(1)			8.95	%

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BXS Announces Fourth Quarter Results
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January 27, 2011

BancorpSouth, Inc.
Consolidated Balance Sheets
(Unaudited)

		Dec-10				Sep-10				Jun-10				Mar-10				Dec-09
		(Dollars in thousands)
Assets
Cash and due from banks		$	99,916			$	128,160			$	370,499			$	187,115			$	222,741
Interest bearing deposits with other banks			172,170				211,189				111,040				9,943				15,704
Held-to-maturity securities, at amortized cost			1,613,019				1,357,888				1,147,157				1,219,983				1,032,822
Available-for-sale securities, at fair value			1,096,062				915,877				962,692				891,221				960,772
Federal funds sold and securities purchased under agreement to resell			150,000				325,000				75,000				120,000				75,000
Loans and leases			9,376,351				9,556,962				9,691,623				9,756,081				9,822,986
Less: Unearned income			43,244				42,033				44,721				45,259				47,850
Allowance for credit losses			196,913				205,081				200,744				188,884				176,043
Net loans and leases			9,136,194				9,309,848				9,446,158				9,521,938				9,599,093
Loans held for sale			93,697				125,815				95,987				80,312				80,343
Premises and equipment, net			332,890				335,618				336,645				339,860				343,877
Accrued interest receivable			61,025				63,797				63,862				69,022				68,651
Goodwill			270,097				270,097				270,097				270,097				270,097
Bank owned life insurance			194,064				192,459				190,828				189,022				187,770
Other real estate owned			133,412				82,647				67,560				59,269				59,265
Other assets			262,464				264,621				283,479				272,408				251,732
Total Assets		$	13,615,010			$	13,583,016			$	13,421,004			$	13,230,190			$	13,167,867
Liabilities
Deposits:
Demand: Noninterest bearing		$	2,060,145			$	1,967,635			$	1,897,977			$	1,860,579			$	1,901,663
Interest bearing			4,931,518				4,623,103				4,725,457				4,589,029				4,323,646
Savings			863,034				801,153				770,112				768,302				725,192
Other time			3,635,324				3,804,973				3,827,095				3,776,251				3,727,201
Total deposits			11,490,021				11,196,864				11,220,641				10,994,161				10,677,702
Federal funds purchased and securities sold under agreement to repurchase			440,593				501,175				481,109				480,795				539,870
Short-term Federal Home Loan Bank borrowings and other short-term borrowing			2,727				152,738				3,500				2,500				203,500
Accrued interest payable			14,336				16,574				17,508				17,972				19,588
Junior subordinated debt securities			160,312				160,312				160,312				160,312				160,312
Long-term Federal Home Loan Bank borrowings			110,000				110,000				110,749				112,760				112,771
Other liabilities			174,777				209,648				186,926				196,806				177,828
Total Liabilities			12,392,766				12,347,311				12,180,745				11,965,306				11,891,571
Shareholders’ Equity
Common stock			208,704				208,704				208,704				208,655				208,626
Capital surplus			224,976				224,170				223,922				223,307				222,547
Accumulated other comprehensive income (loss)			(14,453	)			(2,705	)			(5,008	)			(10,645	)			(8,409	)
Retained earnings			803,017				805,536				812,641				843,567				853,532
Total Shareholders’ Equity			1,222,244				1,235,705				1,240,259				1,264,884				1,276,296
Total Liabilities & Shareholders’ Equity		$	13,615,010			$	13,583,016			$	13,421,004			$	13,230,190			$	13,167,867

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BXS Announces Fourth Quarter Results
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BancorpSouth, Inc.
Consolidated Condensed Statements of Income
(Dollars in thousands, except per share data)
(Unaudited)

		Quarter Ended																				Year To Date
		Dec-10				Sep-10				Jun-10				Mar-10				Dec-09				Dec-10				Dec-09
INTEREST REVENUE:
Loans and leases		$	121,672			$	123,533			$	124,621			$	126,956			$	129,086			$	496,782			$	517,013
Deposits with other banks			222				79				33				21				19				355				131
Federal funds sold and securities purchased under agreement to resell			168				213				143				82				43				606				74
Held-to-maturity securities:
Taxable			8,490				9,010				9,363				9,415				10,128				36,278				46,957
Tax-exempt			2,952				2,584				2,412				2,461				2,393				10,409				8,852
Available-for-sale securities:
Taxable			7,836				7,782				8,030				8,385				8,675				32,033				35,026
Tax-exempt			815				795				833				832				875				3,275				3,396
Loans held for sale			902				889				727				506				777				3,024				3,965
Total interest revenue			143,057				144,885				146,162				148,658				151,996				582,762				615,414
INTEREST EXPENSE:
Interest bearing demand			7,462				8,582				9,751				9,392				9,023				35,187				40,047
Savings			891				881				915				889				900				3,576				3,700
Other time			19,827				21,108				21,535				21,529				23,445				83,999				101,308
Federal funds purchased and securities sold under agreement to repurchase			189				209				215				228				305				841				1,629
FHLB borrowings			1,569				1,543				1,553				1,880				3,012				6,545				11,597
Junior subordinated debt			2,864				2,880				2,862				2,855				2,863				11,461				11,630
Other			2				4				2				3				101				11				604
Total interest expense			32,804				35,207				36,833				36,776				39,649				141,620				170,515
Net interest revenue			110,253				109,678				109,329				111,882				112,347				441,142				444,899
Provision for credit losses			43,293				54,850				62,354				43,519				62,271				204,016				117,324
Net interest revenue, after provision for credit losses			66,960				54,828				46,975				68,363				50,076				237,126				327,575
NONINTEREST REVENUE:
Mortgage lending			18,126				8,898				(2,304	)			5,025				8,602				29,745				32,225
Credit card, debit card and merchant fees			9,951				9,569				9,333				8,810				7,883				37,663				34,244
Service charges			16,854				18,621				18,953				16,262				18,689				70,690				72,864
Trust income			3,072				2,783				2,707				2,587				3,014				11,149				9,698
Security gains (losses), net			(470	)			2,327				(585	)			1,297				(102	)			2,569				(55	)
Insurance commissions			18,013				20,825				21,666				21,668				17,583				82,172				80,937
Other			8,428				6,729				7,316				7,683				8,836				30,156				45,363
Total noninterest revenue			73,974				69,752				57,086				63,332				64,505				264,144				275,276
NONINTEREST EXPENSES:
Salaries and employee benefits			65,980				68,232				68,189				69,287				66,926				271,688				278,734
Occupancy, net of rental income			10,668				11,038				10,527				10,775				10,897				43,008				42,108
Equipment			5,459				5,523				5,877				5,739				5,578				22,598				23,508
Deposit insurance assessments			5,895				4,752				4,362				4,250				3,786				19,259				19,672
Other			35,445				33,542				31,061				30,432				36,174				130,480				125,995
Total noninterest expenses			123,447				123,087				120,016				120,483				123,361				487,033				490,017
Income (loss) before income taxes			17,487				1,493				(15,955	)			11,212				(8,780	)			14,237				112,834
Income tax expense (benefit)			1,641				(9,767	)			(3,395	)			2,816				(6,634	)			(8,705	)			30,105
Net income (loss)		$	15,846			$	11,260				($12,560	)		$	8,396				($2,146	)		$	22,942			$	82,729
Net income (loss) per share: Basic		$	0.19			$	0.13				($0.15	)		$	0.10				($0.03	)		$	0.28			$	0.99
Diluted		$	0.19			$	0.13				($0.15	)		$	0.10				($0.03	)		$	0.27			$	0.99

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BXS Announces Fourth Quarter Results
Page 10
January 27, 2011

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

		Quarter Ended
		Dec-10				Sep-10				Jun-10				Mar-10				Dec-09
LOAN AND LEASE PORTFOLIO:
Commercial and industrial		$	1,491,183			$	1,438,415			$	1,483,335			$	1,470,145			$	1,466,569
Real estate
Consumer mortgages			1,978,145				2,001,077				2,019,187				2,014,085				2,017,067
Home equity			543,272				552,095				555,281				549,924				550,085
Agricultural			252,292				262,083				260,489				266,649				262,069
Commercial and industrial-owner occupied			1,331,473				1,375,466				1,407,704				1,423,098				1,449,554
Construction, acquisition and development			1,148,161				1,307,242				1,381,591				1,428,882				1,459,503
Commercial			1,816,951				1,810,626				1,794,644				1,809,660				1,806,766
Credit cards			106,345				102,672				102,784				101,464				108,086
All other			665,285				665,253				641,888				646,915				655,437
Total loans		$	9,333,107			$	9,514,929			$	9,646,903			$	9,710,822			$	9,775,136
ALLOWANCE FOR CREDIT LOSSES:
Balance, beginning of period		$	205,081			$	200,744			$	188,884			$	176,043			$	144,791
Loans and leases charged off:
Commercial and industrial			(1,782	)			(2,822	)			(5,106	)			(2,169	)			(3,404	)
Real estate
Consumer mortgages			(8,809	)			(7,573	)			(4,659	)			(4,598	)			(2,298	)
Home equity			(1,138	)			(1,792	)			(602	)			(1,683	)			(1,835	)
Agricultural			(487	)			(33	)			(473	)			(207	)			(401	)
Commercial and industrial-owner occupied			(1,659	)			(1,231	)			(3,845	)			(2,465	)			(753	)
Construction, acquisition and development			(31,471	)			(34,342	)			(31,655	)			(15,769	)			(20,766	)
Commercial			(6,327	)			(2,887	)			(2,593	)			(2,278	)			(568	)
Credit cards			(990	)			(1,046	)			(1,363	)			(1,160	)			(1,118	)
All other			(2,093	)			(798	)			(2,067	)			(1,050	)			(954	)
Total loans charged off			(54,756	)			(52,524	)			(52,363	)			(31,379	)			(32,097	)
Recoveries:
Commercial and industrial			707				318				242				63				194
Real estate
Consumer mortgages			423				143				818				64				209
Home equity			60				23				43				52				76
Agricultural			4				8				—				—				—
Commercial and industrial-owner occupied			195				154				44				7				10
Construction, acquisition and development			776				663				211				56				7
Commercial			707				98				27				12				25
Credit cards			143				317				219				150				216
All other			280				287				265				297				341
Total recoveries			3,295				2,011				1,869				701				1,078
Net charge-offs			(51,461	)			(50,513	)			(50,494	)			(30,678	)			(31,019	)
Provision charged to operating expense			43,293				54,850				62,354				43,519				62,271
Other, net			—				—				—				—				—
Balance, end of period		$	196,913			$	205,081			$	200,744			$	188,884			$	176,043
Average loans for period		$	9,418,687			$	9,601,142			$	9,703,253			$	9,767,088			$	9,750,989
Ratios:
Net charge-offs to average loans (annualized)			2.19	%			2.10	%			2.08	%			1.26	%			1.27	%

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BXS Announces Fourth Quarter Results
Page 11
January 27, 2011

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

		Quarter Ended
		Dec-10				Sep-10				Jun-10				Mar-10				Dec-09
NON-PERFORMING ASSETS
NON-PERFORMING LOANS AND LEASES:
Nonaccrual Loans and Leases
Commercial and industrial		$	13,075			$	12,339			$	6,280			$	6,306			$	4,852
Real estate
Consumer mortgages			46,496				40,962				37,514				24,047				20,731
Home equity			811				1,361				1,565				761				1,642
Agricultural			7,589				4,986				3,972				3,049				1,136
Commercial and industrial-owner occupied			20,338				15,004				12,061				15,083				7,039
Construction, acquisition and development			199,072				216,586				159,829				116,191				82,170
Commercial			57,766				51,590				38,921				30,094				23,209
Credit cards			720				724				726				1,072				1,044
All other			1,632				3,629				2,890				3,034				2,190
Total nonaccrual loans and leases			347,499				347,181				263,758				199,637				144,013
Loans and Leases 90+ Days Past Due, Still Accruing:
Commercial and industrial			675				1,571				7,093				1,405				1,797
Real estate
Consumer mortgages			6,521				6,241				4,754				10,984				9,905
Home equity			173				146				—				320				810
Agricultural			123				330				—				199				1,015
Commercial and industrial-owner occupied			20				192				733				1,482				4,511
Construction, acquisition and development			197				526				1,490				3,339				13,482
Commercial			—				115				3,068				1,671				2,558
Credit cards			330				396				228				296				355
All other			461				393				330				756				1,868
Total loans and leases 90+ past due, still accruing			8,500				9,910				17,696				20,452				36,301
Restructured Loans and Leases, Still Accruing			38,376				52,325				20,813				15,576				6,161
Total non-performing loans and leases			394,375				409,416				302,267				235,665				186,475
OTHER REAL ESTATE OWNED:			133,412				82,647				67,560				59,269				59,265
Total Non-performing Assets		$	527,787			$	492,063			$	369,827			$	294,934			$	245,740
Loans and Leases 30-89 Days Past Due, Still Accruing:
Commercial and industrial		$	13,654			$	10,581			$	10,081			$	17,248			$	7,220
Real estate
Consumer mortgages			19,147				22,490				30,286				22,917				24,263
Home equity			1,906				3,088				2,664				2,568				2,000
Agricultural			1,122				1,101				2,312				3,814				1,010
Commercial and industrial-owner occupied			10,183				16,385				20,975				21,798				29,186
Construction, acquisition and development			6,758				11,538				50,759				58,385				39,795
Commercial			3,823				4,657				8,084				11,627				5,623
Credit cards			1,023				799				1,220				1,185				1,457
All other			2,766				3,143				4,472				3,240				3,061
Total Loans and Leases 30-89 days past due, still accruing		$	60,382			$	73,782			$	130,853			$	142,782			$	113,615
Credit Quality Ratios:
Provision for credit losses to average loans and leases (annualized)			1.84	%			2.29	%			2.57	%			1.78	%			2.55	%
Allowance for credit losses to net loans and leases			2.11	%			2.16	%			2.08	%			1.95	%			1.80	%
Allowance for credit losses to non-performing assets			37.31	%			41.68	%			54.28	%			64.04	%			71.64	%
Allowance for credit losses to non-performing loans and leases			49.93	%			50.09	%			66.41	%			80.15	%			94.41	%
Non-performing loans and leases to net loans and leases			4.23	%			4.30	%			3.13	%			2.43	%			1.91	%
Non-performing assets to net loans and leases			5.65	%			5.17	%			3.83	%			3.04	%			2.51	%

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BXS Announces Fourth Quarter Results
Page 12
January 27, 2011

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

		Quarter Ended
		Dec-10				Sep-10				Jun-10				Mar-10				Dec-09
REAL ESTATE CONSTRUCTION, ACQUISITION AND DEVELOPMENT (“CAD”) PORTFOLIO:
Outstanding Balance
Multi-family construction		$	27,992			$	28,540			$	22,091			$	28,598			$	25,009
One-to-four family construction			191,972				210,861				229,629				242,209				255,026
Recreation and all other loans			48,375				45,085				44,175				39,938				50,122
Commercial construction			173,557				239,099				245,700				236,111				240,917
Commercial acquisition and development			250,658				260,787				270,413				280,630				282,766
Residential acquisition and development			455,607				522,870				569,583				601,396				605,663
Total outstanding balance		$	1,148,161			$	1,307,242			$	1,381,591			$	1,428,882			$	1,459,503
Nonaccrual CAD Loans
Multi-family construction		$	12,517			$	10,668			$	11,705			$	9,071			$	9,247
One-to-four family construction			11,319				12,075				6,117				4,223				1,514
Recreation and all other loans			481				1,020				685				—				—
Commercial construction			34,710				28,712				24,723				12,650				6,684
Commercial acquisition and development			29,658				34,438				15,558				463				2,527
Residential acquisition and development			110,387				129,673				101,041				89,783				62,198
Total nonaccrual CAD loans			199,072				216,586				159,829				116,190				82,170
CAD Loans 90+ Days Past Due, Still Accruing:
Multi-family construction			—				—				—				—				—
One-to-four family construction			—				—				365				748				1,535
Recreation and all other loans			—				—				—				146				496
Commercial construction			195				—				141				16				—
Commercial acquisition and development			—				150				77				678				4,500
Residential acquisition and development			2				376				907				1,751				6,951
Total CAD loans 90+ past due, still accruing			197				526				1,490				3,339				13,482
Restructured CAD Loans, Still Accruing
Multi-family construction			—				—				—				—				—
One-to-four family construction			63				417				1,072				—				—
Recreation and all other loans			—				—				—				—				—
Commercial construction			—				2,244				—				—				1,606
Commercial acquisition and development			604				1,735				460				—				—
Residential acquisition and development			1,495				7,290				946				3,234				—
Total restructured CAD loans, still accruing			2,162				11,686				2,478				3,234				1,606
Total Non-performing CAD loans		$	201,431			$	228,798			$	163,797			$	122,763			$	97,258
CAD NPL as a % of Outstanding CAD Balance
Multi-family construction			44.7	%			37.4	%			53.0	%			31.7	%			37.0	%
One-to-four family construction			5.9	%			5.9	%			3.3	%			2.1	%			1.2	%
Recreation and all other loans			1.0	%			2.3	%			1.6	%			0.4	%			1.0	%
Commercial construction			20.1	%			12.9	%			10.1	%			5.4	%			3.4	%
Commercial acquisition and development			12.1	%			13.9	%			6.0	%			0.4	%			2.5	%
Residential acquisition and development			24.6	%			26.3	%			18.1	%			15.8	%			11.4	%
Total CAD NPL as a % of outstanding CAD balance			17.5	%			17.5	%			11.9	%			8.6	%			6.7	%