BancorpSouth, Inc. (NYSE:BXS) Q4 2014 Earnings Conference Call - Final Transcript

Jan 22, 2015 • 11:00 am ET

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BancorpSouth, Inc. (NYSE:BXS) Q4 2014 Earnings Conference Call - Final Transcript

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Presentation
Executive
Ron Hodges

credits. We continue to build our loan portfolio through attracting new producers and through our lenders winning new business. I will now turn back to Dan for his concluding remarks.

Executive
Dan Rollins

Thanks, Ron. We are pleased with our teammates' accomplishments during 2014

Executive
Unidentified Speaker

2014 and excited about the foundation that has been built for 2015 forward. Our team answered our challenge on growth. Our lenders produced loan growth of over $750 million which represents the largest annual organic loan growth total in our company's history. Our insurance producers had an outstanding year as well. They continue to win new business year-after-year, resulting in considerable organic revenue growth layered on top of the insurance transactions mentioned earlier.

We continue to grow our mortgage lending team and they are producing record levels of purchase money volume, despite the revenue headwind experienced in 2014 associated with the mortgage servicing asset valuation. Our wealth management team also reported revenue growth year-over-year. They are winning new clients and growing assets under management. We have experienced growth across all product lines in our company, while continuing to challenge expenses. Total non-interest expense declined in '14 compared to '13 in virtually every major category.

As we move into 2015, we will continue to see the benefits of actions taken over the past two years. We must also continue to challenge every dollar we spend and find additional ways to improve our profitability.

Finally, we will continue to emphasize the importance of monitoring and enhancing our compliance policies, procedures and programs. We are optimistic the changes and enhancements made to our BSA AML program will result in an overall compliance program that exceeds regulatory requirements and expectations.

With that, I will conclude our prepared remarks. And Andrew, we will now begin to answer questions.