EXHIBIT 99.1

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 Financial Results for the First Quarter of 2011

TUPELO, Miss., April 25, 2011/PRNewswire-FirstCall via COMTEX/ — BancorpSouth, Inc. (NYSE: BXS) today announced financial results for the quarter ended March 31, 2011. The Company reported a net loss of $494,000, or $0.01 per diluted share, for the first quarter of 2011 compared with net income of $8.4 million, or $0.10 per diluted share, for the first quarter of 2010.

Commenting on the announcement, Aubrey Patterson, Chairman and Chief Executive Officer of BancorpSouth, said, “BancorpSouth’s break-even financial performance for the first quarter as compared to net income of $15.8 million in the fourth quarter of 2010 is primarily the result of an increase in the provision for credit losses of $10.2 million from the fourth quarter to $53.5 million, a decline in mortgage lending revenue of $10.5 million from the fourth quarter, and an increase in salaries and benefits of $4.4 million consisting primarily of increases in FICA taxes, 401(k) contributions and medical insurance expense.

“The provision for credit losses continues to be affected by losses in real estate construction, acquisition and development (“CAD”) loans, especially as it relates to residential loans. We also incurred a $6.8 million loss on a commercial loan during the first quarter.

“The decline in mortgage lending revenue was a result of a lower positive fair value adjustment of mortgage servicing rights (“MSR”) and a decrease in mortgage loan production from the fourth quarter. During the first quarter, the MSR fair value adjustment declined to $2.5 million from $8.9 million in the previous quarter. Mortgage loan production during the first quarter was $202.8 million, down from $451.9 million in the fourth quarter of 2010. This decline was primarily the result of lower levels of refinancing as mortgage interest rates increased. Mortgage lending is an important line of business for BancorpSouth and we have recently expanded our production capabilities, adding fourteen (14) mortgage loan originators in our Alabama region, which effectively tripled the size of our production staff in that region.

“Salaries and benefits expense of $70.4 million for the first quarter of 2011 reflects an increase of $4.4 million compared to the fourth quarter of 2010 and is primarily attributable to increases in FICA taxes, medical insurance and 401(k) contributions.

“In summary, while the first quarter of 2011 did not produce the bottom-line financial results we would have liked to have seen as we entered the new year, pre-tax, pre-provision earnings for the quarter were $47.7 million, and reflected solid performance from our core operations. While our capital levels remain strong, continued success in managing our net interest margin, producing strong levels of non-interest revenue, and controlling expenses is important as we continue to work through a difficult credit environment.”

Mr. Patterson added, “As a result of the significant progress made in identifying and addressing our non-performing loans “(NPLs”), we believe that our credit issues are very manageable and that BancorpSouth remains well-positioned, with strong capital and ample liquidity. However, as a business subject to economic and interest-rate cycles, we remain cautious regarding the strength or sustainability of the

nation’s economic recovery in the near term. We remain focused on working to resolve remaining credit issues and maintaining an appropriate level of reserves.”

Net Interest Revenue

Net interest revenue was $109.4 million for the first quarter of 2011, a decrease of 2.2 percent from $111.9 million for the first quarter of 2010 and a 0.7 percent decrease from $110.3 million for the fourth quarter of 2010. The fully taxable equivalent net interest margin was 3.69 percent for the first quarter of 2011, compared with 3.88 percent for the first quarter of 2010 and 3.59 percent for the fourth quarter of 2010.

The increase in net interest margin for the first quarter of 2011 from the fourth quarter of 2010 was the result of maintaining the same yield on interest-earning assets for both quarters, as the overall interest rate on interest bearing liabilities continued to decline. Growth in the investment portfolio offset a portion of the impact of the decline in loans. The decrease in total interest expense of $3.4 million from the fourth quarter of 2010 to the first quarter of 2011 reflected, in part, a continued shift in interest bearing deposits away from time deposits to lower rate demand and savings deposits.

Asset, Deposit and Loan Activity

Total assets at March 31, 2011 were $13.5 billion, an increase of 2.4 percent compared with $13.2 billion at March 31, 2010. Total deposits were $11.5 billion at March 31, 2011, an increase of 4.3 percent from $11.0 billion at March 31, 2010. Loans and leases, net of unearned income, were $9.2 billion at March 31, 2011, a decrease of 5.1 percent from $9.7 billion at March 31, 2010.

The CAD loan portfolio, which decreased $340.4 million, or 23.8 percent, for the 12 months ended March 31, 2011, accounted for 69.0 percent of the decline in net loans and leases. Excluding the impact of the CAD loan portfolio, net loans and leases declined $156.6 million, or 1.6 percent, for the 12 months ended March 31, 2011.

The increase in BancorpSouth’s deposits at the end of the first quarter of 2011 from the end of the first quarter of 2010 was a result of strong growth in interest bearing and noninterest bearing demand deposits of 9.5 percent and 9.0 percent, respectively, and growth in savings deposits of 21.4 percent. Partially offsetting this growth, certificates of deposits declined 7.8 percent. The growth achieved in core deposits through initiating new relationships and strengthening existing relationships during the past year remains a strategic focus of the Company.

Provision for Credit Losses and Allowance for Credit Losses

For the first quarter of 2011, the provision for credit losses was $53.5 million, compared with $43.5 million for the first quarter of 2010 and $43.3 million for the fourth quarter of 2010. Annualized net charge-offs were 2.24 percent of average loans and leases for the first quarter of 2011, compared with 1.26 percent for the first quarter of 2010 and 2.19 percent for the fourth quarter of 2010.

NPLs were $425.0 million, or 4.61 percent of net loans and leases, at March 31, 2011 compared to $235.7 million, or 2.43 percent of net loans and leases, at March 31, 2010 and $394.4 million, or 4.23 percent of net loans and leases, at December 31, 2010. The allowance for credit losses was 2.15 percent of net loans and leases at March 31, 2011 compared to 1.95 percent at March 31, 2010 and 2.11 percent at December 31, 2010.

Total NPLs at March 31, 2011 consisted of: $370.7 million of loans on nonaccrual status, compared with $347.5 million at December 31, 2010; $4.8 million of loans 90 days or more past due and still accruing, a

decrease from $8.5 million at December 31, 2010; and restructured loans still accruing of $49.5 million, an increase from $38.4 million at December 31, 2010. Loans and leases 30 to 89 days past due decreased 14.7 percent to $51.5 million at March 31, 2011 from $60.4 million at December 31, 2010.

At March 31, 2011, $117.6 million of NPLs were residential CAD loans, $88.9 million were other CAD loans, $79.2 million were commercial real estate mortgage loans and $65.6 million were consumer mortgages. NPLs from all other loan types totaled $73.7 million at March 31, 2011.

Included in the $370.7 million of nonaccrual loans reported at March 31, 2011 were $136.3 million of loans that were paying as agreed. These loans are generally placed on nonaccrual status because the collateral values were below the outstanding balances, and because of uncertainty as to whether the borrowers possess 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.

Other real estate owned increased $3.0 million during the first quarter of 2011 to $136.4 million, from $133.4 million at December 31, 2010. This net increase reflected $21.5 million added through foreclosure, less sales of other real estate owned of $13.5 million and write-downs in the value of existing properties of $4.9 million.

Noninterest Revenue

Noninterest revenue was $68.3 million for the first quarter of 2011, compared with $63.3 million for the first quarter of 2010. BancorpSouth’s mortgage production and servicing operations accounted for the largest component of this growth, with revenue for the first quarter of 2011 of $7.6 million, which included a $2.5 million positive MSR fair value adjustment, compared with revenue of $5.0 million, which included an immaterial MSR fair value adjustment, for the first quarter of 2010. Mortgage origination volume for the first quarter of 2011 was $202.8 million compared with $207.4 million for the first quarter of 2010.

Credit and debit card fees increased 17.4 percent and trust income rose 21.1 percent on a comparable quarter basis. Insurance commission revenue for the first quarter of 2011 increased 4.1 percent from the first quarter of 2010, which was the fourth consecutive comparable quarter increase. Service charge income declined 5.5 percent for the first quarter of 2011 compared with the first quarter of 2010.

Noninterest Expense

Noninterest expense for the first quarter of 2011 was $130.0 million, compared with $120.5 million for the first quarter of 2010 and $123.4 million for the fourth quarter of 2010. Foreclosed property expense increased to $7.1 million for the first quarter of 2011 from $3.5 million for the first quarter of 2010 and $6.1 million for the fourth quarter of 2010. FDIC insurance expense was $5.4 million for the first quarter of 2011 compared with $4.3 million and $5.9 million for the first and fourth quarters of 2010, respectively. Salaries and employee benefits, net occupancy and equipment expenses for the first quarter of 2011 increased 1.1 percent from the first quarter of 2010 and increased 5.6 percent from the fourth quarter of 2010, primarily due to increases in FICA taxes and employee benefits.

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 8.94 percent at March 31, 2011, compared with 9.56 percent at March 31, 2010. The ratio of tangible shareholders’ equity to tangible assets was 6.95 percent at March 31, 2011, compared with 7.52 percent at

March 31, 2010. BancorpSouth remains a “well capitalized” financial holding company, as defined by federal regulations, with Tier 1 risk-based capital of 10.65 percent at March 31, 2011 and total risk based capital of 11.92 percent, compared with required minimum levels of 6 percent and 10 percent, respectively, to be classified as “well capitalized.”

Summary

Patterson concluded, “Despite the increase in NPLs during the first quarter, we are encouraged that the rate of NPL formation slowed dramatically for the past two quarters compared with the previous five quarters. We remain highly focused on working through remaining credit issues

and maintaining appropriate reserves for losses expected in our portfolio. We have made much progress in addressing these issues, and we are confident that, in time, we will return our measures of credit quality to more normal levels.

“We continue to be cautious about the potential for loan growth in 2011 in a period of high unemployment and modest economic growth. As the expansion in our core deposits and the strength in our mortgage and other noninterest revenue businesses make clear, we continue to have significant opportunities to gain market share that should position us for stronger performance when the loan environment improves.

“BancorpSouth remains a strong, well capitalized financial institution, offering outstanding service and high quality products and services for our retail and small-to-medium sized business customers. With a long-term history of successfully expanding our business through organic growth and acquisition, we believe we are well positioned to effectively manage BancorpSouth through the current environment, while continuing to build our prospects for long-term growth and increased shareholder value.”

Conference Call

BancorpSouth will conduct a conference call to discuss its first quarter 2011 results tomorrow, April 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 financial performance, our reserves for losses, returning our credit quality to more normal levels, unresolved credit issues, our capital and liquidity, the ability of borrowers to repay outstanding loans, opportunities to gain market share 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 our 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 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 $13.5 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 First Quarter Results
Page 7
April 25, 2011

BancorpSouth, Inc.
Selected Financial Data

		Three Months Ended
		March 31,
(Dollars in thousands, except per share amounts)		2011				2010
Earnings Summary:
Net interest revenue		$	109,437			$	111,882
Provision for credit losses			53,479				43,519
Noninterest revenue			68,311				63,332
Noninterest expense			130,010				120,483
Income (loss) before income taxes			(5,741	)			11,212
Income tax provision (benefit)			(5,247	)			2,816
Net income (loss)			($494	)		$	8,396
Earning (loss) per share: Basic			($0.01	)		$	0.10
Diluted			($0.01	)		$	0.10
Balance sheet data at March 31:
Total assets		$	13,547,238			$	13,230,190
Total earning assets			12,335,690				12,032,281
Loans and leases, net of unearned income			9,213,836				9,710,822
Allowance for credit losses			198,333				188,884
Total deposits			11,464,114				10,994,161
Common shareholders’ equity			1,211,061				1,264,884
Book value per share			14.51				15.16
Average balance sheet data:
Total assets		$	13,539,763			$	13,127,171
Total earning assets			12,394,769				11,979,546
Loans and leases, net of unearned interest			9,299,984				9,767,088
Total deposits			11,497,638				10,878,270
Common shareholders’ equity			1,219,399				1,265,409
Non-performing assets at March 31:
Non-accrual loans and leases		$	370,726			$	199,637
Loans and leases 90+ days past due, still accruing			4,829				20,452
Restructured loans and leases, still accruing			49,472				15,576
Other real estate owned			136,412				59,269
Total non-performing assets			561,439				294,934
Net charge-offs as a percentage of average loans (annualized)			2.24	%			1.26	%
Performance ratios (annualized):
Return on average assets			(0.01	%)			0.26	%
Return on common equity			(0.16	%)			2.69	%
Total shareholders’ equity to total assets			8.94	%			9.56	%
Tangible shareholders’ equity to tangible assets			6.95	%			7.52	%
Net interest margin			3.69	%			3.88	%
Average shares outstanding — basic			83,448,935				83,403,809
Average shares outstanding — diluted			83,448,935				83,574,695
Cash dividends per share		$	0.11			$	0.22
Tier I capital			10.65	%			(1) 10.89	%
Total capital			11.92	%			(1) 12.15	%
Tier I leverage capital			8.01	%			(1) 8.84	%

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BXS Announces First Quarter Results
Page 8
April 25, 2011

BancorpSouth, Inc.
Consolidated Balance Sheets
(Unaudited)

		Mar-11				Dec-10				Sep-10				Jun-10				Mar-10
		(Dollars in thousands)
Assets
Cash and due from banks		$	146,989			$	99,916			$	128,160			$	370,499			$	187,115
Interest bearing deposits with other banks			102,312				172,170				211,189				111,040				9,943
Held-to-maturity securities, at amortized cost			1,667,203				1,613,019				1,357,888				1,147,157				1,219,983
Available-for-sale securities, at fair value			1,145,463				1,096,062				915,877				962,692				891,221
Federal funds sold and securities purchased under agreement to resell			150,000				150,000				325,000				75,000				120,000
Loans and leases			9,255,609				9,376,351				9,556,962				9,691,623				9,756,081
Less: Unearned income			41,773				43,244				42,033				44,721				45,259
Allowance for credit losses			198,333				196,913				205,081				200,744				188,884
Net loans and leases			9,015,503				9,136,194				9,309,848				9,446,158				9,521,938
Loans held for sale			56,876				93,697				125,815				95,987				80,312
Premises and equipment, net			329,862				332,890				335,618				336,645				339,860
Accrued interest receivable			61,105				61,025				63,797				63,862				69,022
Goodwill			271,297				270,097				270,097				270,097				270,097
Bank owned life insurance			194,988				194,064				192,459				190,828				189,022
Other real estate owned			136,412				133,412				82,647				67,560				59,269
Other assets			269,228				262,464				264,621				283,479				272,408
Total Assets		$	13,547,238			$	13,615,010			$	13,583,016			$	13,421,004			$	13,230,190
Liabilities
Deposits:
Demand: Noninterest bearing		$	2,027,990			$	2,060,145			$	1,967,635			$	1,897,977			$	1,860,579
Interest bearing			5,023,073				4,931,518				4,623,103				4,725,457				4,589,029
Savings			932,574				863,034				801,153				770,112				768,302
Other time			3,480,477				3,635,324				3,804,973				3,827,095				3,776,251
Total deposits			11,464,114				11,490,021				11,196,864				11,220,641				10,994,161
Federal funds purchased and securities sold under agreement to repurchase			421,782				440,593				501,175				481,109				480,795
Short-term Federal Home Loan Bank borrowings and other short-term borrowing			2,715				2,727				152,738				3,500				2,500
Accrued interest payable			13,238				14,336				16,574				17,508				17,972
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				110,000				110,749				112,760
Other liabilities			164,016				174,777				209,648				186,926				196,806
Total Liabilities			12,336,177				12,392,766				12,347,311				12,180,745				11,965,306
Shareholders’ Equity
Common stock			208,704				208,704				208,704				208,704				208,655
Capital surplus			225,597				224,976				224,170				223,922				223,307
Accumulated other comprehensive income (loss)			(16,579	)			(14,453	)			(2,705	)			(5,008	)			(10,645	)
Retained earnings			793,339				803,017				805,536				812,641				843,567
Total Shareholders’ Equity			1,211,061				1,222,244				1,235,705				1,240,259				1,264,884
Total Liabilities & Shareholders’ Equity		$	13,547,238			$	13,615,010			$	13,583,016			$	13,421,004			$	13,230,190

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BXS Announces First Quarter Results
Page 9
April 25, 2011

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

		Quarter Ended
		Mar-11				Dec-10				Sep-10				Jun-10				Mar-10
INTEREST REVENUE:
Loans and leases		$	117,358			$	121,672			$	123,533			$	124,621			$	126,956
Deposits with other banks			122				222				79				33				21
Federal funds sold and securities purchased under agreement to resell			131				168				213				143				82
Held-to-maturity securities:
Taxable			8,014				8,490				9,010				9,363				9,415
Tax-exempt			3,347				2,952				2,584				2,412				2,461
Available-for-sale securities:
Taxable			8,585				7,836				7,782				8,030				8,385
Tax-exempt			824				815				795				833				832
Loans held for sale			447				902				889				727				506
Total interest revenue			138,828				143,057				144,885				146,162				148,658
INTEREST EXPENSE:
Interest bearing demand			6,546				7,462				8,582				9,751				9,392
Savings			826				891				881				915				889
Other time			17,483				19,827				21,108				21,535				21,529
Federal funds purchased and securities sold under agreement to repurchase			152				189				209				215				228
FHLB borrowings			1,523				1,569				1,543				1,553				1,880
Junior subordinated debt			2,859				2,864				2,880				2,862				2,855
Other			2				2				4				2				3
Total interest expense			29,391				32,804				35,207				36,833				36,776
Net interest revenue			109,437				110,253				109,678				109,329				111,882
Provision for credit losses			53,479				43,293				54,850				62,354				43,519
Net interest revenue, after provision for credit losses			55,958				66,960				54,828				46,975				68,363
NONINTEREST REVENUE:
Mortgage lending			7,581				18,126				8,898				(2,304	)			5,025
Credit card, debit card and merchant fees			10,346				9,951				9,569				9,333				8,810
Service charges			15,368				16,854				18,621				18,953				16,262
Trust income			3,134				3,072				2,783				2,707				2,587
Security gains (losses), net			17				(470	)			2,327				(585	)			1,297
Insurance commissions			22,549				18,013				20,825				21,666				21,668
Other			9,316				8,428				6,729				7,316				7,683
Total noninterest revenue			68,311				73,974				69,752				57,086				63,332
NONINTEREST EXPENSES:
Salaries and employee benefits			70,375				65,980				68,232				68,189				69,287
Occupancy, net of rental income			10,671				10,668				11,038				10,527				10,775
Equipment			5,658				5,459				5,523				5,877				5,739
Deposit insurance assessments			5,425				5,895				4,752				4,362				4,250
Other			37,881				35,445				33,542				31,061				30,432
Total noninterest expenses			130,010				123,447				123,087				120,016				120,483
Income (loss) before income taxes			(5,741	)			17,487				1,493				(15,955	)			11,212
Income tax expense (benefit)			(5,247	)			1,641				(9,767	)			(3,395	)			2,816
Net income (loss)		$	(494	)		$	15,846			$	11,260			$	(12,560	)		$	8,396
Net income (loss) per share: Basic		$	(0.01	)		$	0.19			$	0.13			$	(0.15	)		$	0.10
Diluted		$	(0.01	)		$	0.19			$	0.13			$	(0.15	)		$	0.10

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BXS Announces First Quarter Results
Page 10
April 25, 2011

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

		Quarter Ended
		Mar-11				Dec-10				Sep-10				Jun-10				Mar-10
LOAN AND LEASE PORTFOLIO:
Commercial and industrial		$	1,484,223			$	1,491,183			$	1,438,415			$	1,483,335			$	1,470,145
Real estate
Consumer mortgages			1,987,198				1,978,145				2,001,077				2,019,187				2,014,085
Home equity			531,406				543,272				552,095				555,281				549,924
Agricultural			250,393				252,292				262,083				260,489				266,649
Commercial and industrial-owner occupied			1,316,824				1,331,473				1,375,466				1,407,704				1,423,098
Construction, acquisition and development			1,088,504				1,148,161				1,307,242				1,381,591				1,428,882
Commercial			1,831,226				1,816,951				1,810,626				1,794,644				1,809,660
Credit cards			100,732				106,345				102,672				102,784				101,464
All other			623,330				665,285				665,253				641,888				646,915
Total loans		$	9,213,836			$	9,333,107			$	9,514,929			$	9,646,903			$	9,710,822
ALLOWANCE FOR CREDIT LOSSES:
Balance, beginning of period		$	196,913			$	205,081			$	200,744			$	188,884			$	176,043
Loans and leases charged off:
Commercial and industrial			(8,809	)			(1,782	)			(2,822	)			(5,106	)			(2,169	)
Real estate
Consumer mortgages			(3,974	)			(8,809	)			(7,573	)			(4,659	)			(4,598	)
Home equity			(1,082	)			(1,138	)			(1,792	)			(602	)			(1,683	)
Agricultural			(592	)			(487	)			(33	)			(473	)			(207	)
Commercial and industrial-owner occupied			(1,716	)			(1,659	)			(1,231	)			(3,845	)			(2,465	)
Construction, acquisition and development			(31,629	)			(31,471	)			(34,342	)			(31,655	)			(15,769	)
Commercial			(4,514	)			(6,327	)			(2,887	)			(2,593	)			(2,278	)
Credit cards			(881	)			(990	)			(1,046	)			(1,363	)			(1,160	)
All other			(553	)			(2,093	)			(798	)			(2,067	)			(1,050	)
Total loans charged off			(53,750	)			(54,756	)			(52,524	)			(52,363	)			(31,379	)
Recoveries:
Commercial and industrial			184				707				318				242				63
Real estate
Consumer mortgages			143				423				143				818				64
Home equity			45				60				23				43				52
Agricultural			2				4				8				—				—
Commercial and industrial-owner occupied			173				195				154				44				7
Construction, acquisition and development			564				776				663				211				56
Commercial			13				707				98				27				12
Credit cards			255				143				317				219				150
All other			312				280				287				265				297
Total recoveries			1,691				3,295				2,011				1,869				701
Net charge-offs			(52,059	)			(51,461	)			(50,513	)			(50,494	)			(30,678	)
Provision charged to operating expense			53,479				43,293				54,850				62,354				43,519
Other, net			—				—				—				—				—
Balance, end of period		$	198,333			$	196,913			$	205,081			$	200,744			$	188,884
Average loans for period		$	9,300,029			$	9,418,687			$	9,601,142			$	9,703,253			$	9,767,088
Ratios:
Net charge-offs to average loans (annualized)			2.24	%			2.19	%			2.10	%			2.08	%			1.26	%

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BXS Announces First Quarter Results
Page 11
April 25, 2011

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

		Quarter Ended
		Mar-11				Dec-10				Sep-10				Jun-10				Mar-10
NON-PERFORMING ASSETS
NON-PERFORMING LOANS AND LEASES:
Nonaccrual Loans and Leases
Commercial and industrial		$	14,655			$	13,075			$	12,339			$	6,280			$	6,306
Real estate
Consumer mortgages			58,748				46,496				40,962				37,514				24,047
Home equity			1,543				811				1,361				1,565				761
Agricultural			7,597				7,589				4,986				3,972				3,049
Commercial and industrial-owner occupied			24,638				20,338				15,004				12,061				15,083
Construction, acquisition and development			202,124				199,072				216,586				159,829				116,191
Commercial			58,945				57,766				51,590				38,921				30,094
Credit cards			617				720				724				726				1,072
All other			1,859				1,632				3,629				2,890				3,034
Total nonaccrual loans and leases			370,726				347,499				347,181				263,758				199,637
Loans and Leases 90+ Days Past Due, Still Accruing:
Commercial and industrial			501				675				1,571				7,093				1,405
Real estate
Consumer mortgages			3,152				6,521				6,241				4,754				10,984
Home equity			139				173				146				—				320
Agricultural			7				123				330				—				199
Commercial and industrial-owner occupied			255				20				192				733				1,482
Construction, acquisition and development			19				197				526				1,490				3,339
Commercial			7				—				115				3,068				1,671
Credit cards			240				330				396				228				296
All other			509				461				393				330				756
Total loans and leases 90+ past due, still accruing			4,829				8,500				9,910				17,696				20,452
Restructured Loans and Leases, Still Accruing			49,472				38,376				52,325				20,813				15,576
Total non-performing loans and leases			425,027				394,375				409,416				302,267				235,665
OTHER REAL ESTATE OWNED:			136,412				133,412				82,647				67,560				59,269
Total Non-performing Assets		$	561,439			$	527,787			$	492,063			$	369,827			$	294,934
Loans and Leases 30-89 Days Past Due, Still Accruing:
Commercial and industrial		$	8,407			$	13,654			$	10,581			$	10,081			$	17,248
Real estate
Consumer mortgages			17,136				19,147				22,490				30,286				22,917
Home equity			2,492				1,906				3,088				2,664				2,568
Agricultural			818				1,122				1,101				2,312				3,814
Commercial and industrial-owner occupied			4,369				10,183				16,385				20,975				21,798
Construction, acquisition and development			8,047				6,758				11,538				50,759				58,385
Commercial			7,090				3,823				4,657				8,084				11,627
Credit cards			969				1,023				799				1,220				1,185
All other			2,192				2,766				3,143				4,472				3,240
Total Loans and Leases 30-89 days past due, still accruing		$	51,520			$	60,382			$	73,782			$	130,853			$	142,782
Credit Quality Ratios:
Provision for credit losses to average loans and leases (annualized)			2.30	%			1.84	%			2.29	%			2.57	%			1.78	%
Allowance for credit losses to net loans and leases			2.15	%			2.11	%			2.16	%			2.08	%			1.95	%
Allowance for credit losses to non-performing assets			35.33	%			37.31	%			41.68	%			54.28	%			64.04	%
Allowance for credit losses to non-performing loans and leases			46.66	%			49.93	%			50.09	%			66.41	%			80.15	%
Non-performing loans and leases to net loans and leases			4.61	%			4.23	%			4.30	%			3.13	%			2.43	%
Non-performing assets to net loans and leases			6.09	%			5.65	%			5.17	%			3.83	%			3.04	%

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BXS Announces First Quarter Results
Page 12
April 25, 2011

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

		Quarter Ended
		Mar-11				Dec-10				Sep-10				Jun-10				Mar-10
REAL ESTATE CONSTRUCTION, ACQUISITION AND DEVELOPMENT (“CAD”) PORTFOLIO:
Outstanding Balance
Multi-family construction		$	21,051			$	27,992			$	28,540			$	22,091			$	28,598
One-to-four family construction			183,604				191,972				210,861				229,629				242,209
Recreation and all other loans			63,686				48,375				45,085				44,175				39,938
Commercial construction			155,402				173,557				239,099				245,700				236,111
Commercial acquisition and development			244,950				250,658				260,787				270,413				280,630
Residential acquisition and development			419,811				455,607				522,870				569,583				601,396
Total outstanding balance		$	1,088,504			$	1,148,161			$	1,307,242			$	1,381,591			$	1,428,882
Nonaccrual CAD Loans
Multi-family construction		$	8,352			$	12,517			$	10,668			$	11,705			$	9,071
One-to-four family construction			10,847				11,319				12,075				6,117				4,223
Recreation and all other loans			708				481				1,020				685				—
Commercial construction			20,889				34,710				28,712				24,723				12,650
Commercial acquisition and development			47,200				29,658				34,438				15,558				463
Residential acquisition and development			114,128				110,387				129,673				101,041				89,783
Total nonaccrual CAD loans			202,124				199,072				216,586				159,829				116,190
CAD Loans 90+ Days Past Due, Still Accruing:
Multi-family construction			—				—				—				—				—
One-to-four family construction			—				—				—				365				748
Recreation and all other loans			2				—				—				—				146
Commercial construction			—				195				—				141				16
Commercial acquisition and development			—				—				150				77				678
Residential acquisition and development			17				2				376				907				1,751
Total CAD loans 90+ past due, still accruing			19				197				526				1,490				3,339
Restructured CAD Loans, Still Accruing
Multi-family construction			—				—				—				—				—
One-to-four family construction			113				63				417				1,072				—
Recreation and all other loans			—				—				—				—				—
Commercial construction			—				—				2,244				—				—
Commercial acquisition and development			834				604				1,735				460				—
Residential acquisition and development			3,408				1,495				7,290				946				3,234
Total restructured CAD loans, still accruing			4,355				2,162				11,686				2,478				3,234
Total Non-performing CAD loans		$	206,498			$	201,431			$	228,798			$	163,797			$	122,763
CAD NPL as a % of Outstanding CAD Balance
Multi-family construction			39.7	%			44.7	%			37.4	%			53.0	%			31.7	%
One-to-four family construction			6.0	%			5.9	%			5.9	%			3.3	%			2.1	%
Recreation and all other loans			1.1	%			1.0	%			2.3	%			1.6	%			0.4	%
Commercial construction			13.4	%			20.1	%			12.9	%			10.1	%			5.4	%
Commercial acquisition and development			19.6	%			12.1	%			13.9	%			6.0	%			0.4	%
Residential acquisition and development			28.0	%			24.6	%			26.3	%			18.1	%			15.8	%
Total CAD NPL as a % of outstanding CAD balance			19.0	%			17.5	%			17.5	%			11.9	%			8.6	%

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BXS Announces First Quarter Results
Page 13
April 25, 2011

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

		As of
		Mar-11				Dec-10				Sep-10				Jun-10				Mar-10
Unpaid principal balance of impaired loans		$	423,497			$	345,377			$	311,941			$	243,221			$	209,288
Cumulative charge offs on impaired loans			84,676				71,972				69,783				54,930				37,989
Impaired nonaccrual loan and lease outstanding balance			338,821				273,405				242,158				188,291				171,299
Other non-accrual loans and leases not impaired			31,905				74,094				105,023				75,467				28,338
Total non-accrual loans and leases		$	370,726			$	347,499			$	347,181			$	263,758			$	199,637
Allowance for impaired loans			49,419				40,719				43,584				40,721				30,855
Nonaccrual loans and leases, net of specific reserves		$	321,307			$	306,780			$	303,597			$	223,037			$	168,782
Loans and leases 90+ past due, still accruing			4,829				8,500				9,910				17,696				20,452
Restructured loans and leases, still accruing			49,472				38,376				52,325				20,813				15,576
Total non-performing loans and leases		$	425,027			$	394,375			$	409,416			$	302,267			$	235,665
Allowance for impaired loans		$	49,419			$	40,719			$	43,584			$	40,721			$	30,855
Allowance for all other loans and leases			148,914				156,194				161,497				160,053				158,029
Total allowance for credit losses		$	198,333			$	196,913			$	205,081			$	200,774			$	188,884
Outstanding balance of impaired loans		$	338,821			$	273,405			$	242,158			$	188,291			$	171,299
Allowance for impaired loans			49,419				40,719				43,584				40,721				30,855
Net book value of impaired loans		$	289,402			$	232,686			$	198,574			$	147,570			$	140,444
Net book value of impaired loans as a % of unpaid principal balance			68	%			67	%			64	%			61	%			67	%
Coverage of other Non-accrual loans and leases not impaired by the allowance for all other loans and leases			467	%			211	%			154	%			212	%			558	%
Coverage of non-performing loans and leases not impaired by the allowance for all other loans and leases			173	%			129	%			97	%			140	%			246	%