TUPELO, Miss., June 16 /PRNewswire-FirstCall/ -- BancorpSouth
Bank, a wholly-owned subsidiary of BancorpSouth, Inc. (NYSE: BXS),
a $13.2 billion asset financial
holding company, has increased its focus on small- to mid-sized
businesses throughout its eight-state market area. The initiatives
include a focus on proactively assisting small- to mid-sized
companies through special needs analysis, state of the industry
products and services and special incentives, supported by a range
of sales and marketing activities. The bank's initiative is
designed to help assist small businesses in better managing their
cash flow, saving them time and maximizing their bottom line.
Gordon Lewis, BancorpSouth Vice
Chairman for Community Banking, said, "Our small business focus is
important due to the large number of small businesses and
entrepreneurs who are bearing much of the brunt of the national
economic downturn. In these times it is important, often critical,
for a small business to establish a close relationship with their
banker. BancorpSouth's emphasis on personal service and local
decision-making is a major advantage our bank offers to small
businesses."
Among the incentives, BancorpSouth continues to offer its
standard next-day credit to small businesses that open a merchant
services account with their bank, along with a limited time offer
of up to $200 of free processing
services on credit card purchases. Some businesses have to wait up
to five days for a credit card purchase to be credited to their
bank account.
Free small business checking accounts, combined with free
personal checking for business owners and their employees, are part
of the BancorpSouth small business package, along with free
Internet banking with bill pay, mobile banking, Treasury Management
services, business loans and lines of credit for qualifying
clients.
"Small businesses are looking for ways to more cost effectively
run their businesses. We feel that we offer a package of services
that appeals to any small- to mid-sized businesses in helping them
achieve success," said Michael
Lindsey, Senior Vice President and head of Retail Banking at
BancorpSouth.
As a special incentive to small business owners, for a limited
time, BancorpSouth is offering a $100
cash incentive to small business owners who transfer their small
business checking account to BancorpSouth. As a plus, if they
transfer their personal checking account to BancorpSouth, they are
eligible to receive an additional $50
cash incentive.
"One of the most important features is the one small business
owners most frequently overlook and that is financial counsel.
Small businesses, no matter the category or size, will benefit from
good advice so their business survives, and builds an even stronger
solid foundation, said Lindsey. "We will provide a financial
assessment at no cost. We'll advise a business to watch their
inventories carefully, to reduce or stretch out debt, to very
diligently monitor their cash flow and to get tough with
collections."
Lindsey said BancorpSouth works to put itself in the position of
its customers, to listen to their concerns, to be "right where they
are" by responding whenever possible, with optimal banking
solutions that are provided by personal bankers with local
decision-making authority.
Greenwich Associates, a leading international research-based
consulting firm in financial services, recently presented awards to
BancorpSouth for overall satisfaction from small business banking
customers, as well as an additional award citing the bank for its
work with mid-sized banking customers.
BancorpSouth, Inc. is a financial holding company headquartered
in Tupelo, Mississippi, with
approximately $13.2 billion in
assets. BancorpSouth Bank, a wholly-owned subsidiary of
BancorpSouth, Inc., operates approximately 314 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.
BancorpSouth's common stock is traded on the New York Stock
Exchange under the symbol BXS.
SOURCE BancorpSouth Bank