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BancorpSouth Exhibit 99.1 News Release Contact : John G. Copeland Senior Executive Vice President and Chief Financial Officer 662 / 680-2536 Will Fisackerly Executive Vice President and Director of Corporate Finance 662 / 680-2475 BancorpSouth Announces First Quarter 2021 Results TUPELO , Miss . , April 21 , 2021 / PRNewswire BancorpSouth Bank ( NYSE : BXS ) ( the " Company " ) today announced financial results for the quarter ended March 31 , 2021 . ● • • • • • Highlights for the first quarter of 2021 included : Achieved record quarterly net income available to common shareholders of $ 79.2 million , or $ 0.77 per diluted common share , and record net operating income available to common shareholders - excluding MSR – of $ 74.8 million , or $ 0.73 per diluted common share . Generated $ 99.1 million in pre - tax pre - provision net revenue ( PPNR ) , or 1.64 percent of average assets on an annualized basis . Credit quality indicators improved as evidenced by no recorded provision for credit losses for the quarter and a decline of $ 21.9 million , or 16.5 percent , in total non - performing assets . Generated total deposit and customer repo growth of $ 1.3 billion for the quarter , or 26.7 percent on an annualized basis . Originated and funded 7,527 loans totaling $ 463.5 million under the Paycheck Protection Program ( PPP ) ; received PPP forgiveness payments totaling $ 307.9 million during the quarter . Continued strong mortgage production volume of $ 789.8 million which contributed to mortgage production and servicing revenue of $ 17.9 million . Maintained strong regulatory capital metrics ; estimated total risk - based capital of 14.65 percent at March 31 , 2021 compared to 14.48 percent at December 31 , 2020 . Recently received regulatory approval to complete transactions with National United Bancshares , Inc. , the parent company of National United , and FNS Bancshares , Inc. , the parent company of FNB Bank , which are expected to close effective May 1 , 2021 and add approximately $ 1.6 billion in total assets to the Company . BancorpSouth Bank • MORE - 201 South Spring Street • Tupelo , MS 38804 ( 662 ) 680-2000