Banking & Savings M&A » By The Online Investor Staff, updated Thu., Apr. 25, 6:25 AM
Recent mergers and acquisitions in the Banking & Savings M&A category.
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Slide #29. BancorpSouth Insurance Services, Inc. — Knox Insurance Group, LLC
Acquirer:
BancorpSouth Insurance Services, Inc. (BXS)
Acquiree:
Knox Insurance Group, LLC
Details:
BancorpSouth, Inc. (NYSE: BXS) announced today that BancorpSouth Insurance Services, Inc. ("BXSI"), a subsidiary of BancorpSouth Bank, headquartered in Tupelo, Mississippi, signed a definitive agreement to acquire the assets of Lafayette, Louisiana-based Knox Insurance Group, LLC ("Knox"). The transaction is expected to close immediately. Financial terms of the pending transaction were not disclosed.
BancorpSouth Bank conducts commercial banking and financial services operations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, Texas and Illinois. Co.'s segments are: Mortgage, which includes the mortgage banking activities of originating mortgage loans, selling mortgage loans in the secondary market and servicing the mortgage loans; Insurance Agencies, which serves as agents in the sale of commercial lines of insurance and lines of property and casualty, and health and employee benefits products and services; Wealth Management, which provides credit related products; and General Corporate and Other, which includes other activities not allocated to the segments.
Preferred: BXS.PRA
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Avg. Broker Rec.
 
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Buy (3.29 out of 4) 59th percentile
(ranked higher than approx. 59% of all stocks covered)
Analysts' Target Price: BXS Stock Forecast Based on Zacks ABR data; powered by Xignite |
