Managing Director Roger Vogel of Silvercrest Asset Management Group says BancorpSouth, Inc. (BXS), a Mississippi-based regional bank, should continue to see improvements on its expense structure as the CEO emulates his previous successes.
“We purchased BancorpSouth about a year ago, initially on the promise that a new CEO, Dan Rollins, brought to the situation. We knew Dan very well from his previous employer, Prosperity Bank (PB), which is one of the highest-performing banks in the country,” Vogel said.
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Rollins had significant opportunity at BancorpSouth to rationalize the expense base and rejuvenate loan growth, Vogel says, which so far has played out.
“We still believe Dan will continue to work on the expense structure of the bank and probably pursue some acquisitions as well. As a result, we think there is still at least 20% upside,” Vogel said.
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