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BancorpSouth Closes Buyout of Alexander & Sanders Insurance
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BancorpSouth Bank recently announced the acquisition of the assets of Alexander & Sanders Insurance Agency, Inc. The company completed the deal through its subsidiary, BXS Insurance, Inc. The terms of deal have not been disclosed yet.
The Baton Rouge, LA-based Alexander & Sanders Insurance is a provider of risk management and insurance services to professional firms across Louisiana over the past few decades. Post the acquisition’s closure, Alexander & SandersInsurance will continue its operations from BXS Insurance's Baton Rouge, LA office.
Markham McKnight, president and chief executive officer of BXS Insurance said, "This transaction allows us to add talented leaders and teammates to our team and provides a unique opportunity to enhance our construction practice within Louisiana and across BXS Insurance's footprint."
Aided by its solid liquidity position, BancorpSouth has been making strategic investments through mergers and acquisitions (M&As). In recent years, the company has maintained an acquisition spree, fortifying its footprint in various areas. In January 2020, the company completed the acquisition of Texas First Bancshares, and expanded presence geographically, while in September 2019, it completed its mergers with Van Alstyne Financial Corporation and Summit Financial Enterprises. Moreover, the company looks forward to tap similar opportunities in the future as well.
So far this year, consolidations in the banking sector have been few and far between, as the pandemic and the resultant economic slowdown have put brakes on the same. Nonetheless, a few notable deals this year include CapStar Financial Holdings, Inc.’s merger with Tennessee-based FCB Corporation, and First Horizon National Corporation (FHN - Free Report) and IBERIABANK Corporation’s all-stock merger of equals.
Recently, Summit Financial Group, Inc. (SMMF - Free Report) announced entering into a definitive merger agreement to acquire WinFirst Financial Corp in an all-cash deal.
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Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
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BancorpSouth Closes Buyout of Alexander & Sanders Insurance
BancorpSouth Bank recently announced the acquisition of the assets of Alexander & Sanders Insurance Agency, Inc. The company completed the deal through its subsidiary, BXS Insurance, Inc. The terms of deal have not been disclosed yet.
The Baton Rouge, LA-based Alexander & Sanders Insurance is a provider of risk management and insurance services to professional firms across Louisiana over the past few decades. Post the acquisition’s closure, Alexander & SandersInsurance will continue its operations from BXS Insurance's Baton Rouge, LA office.
Markham McKnight, president and chief executive officer of BXS Insurance said, "This transaction allows us to add talented leaders and teammates to our team and provides a unique opportunity to enhance our construction practice within Louisiana and across BXS Insurance's footprint."
Aided by its solid liquidity position, BancorpSouth has been making strategic investments through mergers and acquisitions (M&As). In recent years, the company has maintained an acquisition spree, fortifying its footprint in various areas. In January 2020, the company completed the acquisition of Texas First Bancshares, and expanded presence geographically, while in September 2019, it completed its mergers with Van Alstyne Financial Corporation and Summit Financial Enterprises. Moreover, the company looks forward to tap similar opportunities in the future as well.
Shares of this Zacks Rank #3 (Hold) company have depreciated 18.8% over the past year compared with the industry's decline of 20.2%. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
So far this year, consolidations in the banking sector have been few and far between, as the pandemic and the resultant economic slowdown have put brakes on the same. Nonetheless, a few notable deals this year include CapStar Financial Holdings, Inc.’s merger with Tennessee-based FCB Corporation, and First Horizon National Corporation (FHN - Free Report) and IBERIABANK Corporation’s all-stock merger of equals.
Recently, Summit Financial Group, Inc. (SMMF - Free Report) announced entering into a definitive merger agreement to acquire WinFirst Financial Corp in an all-cash deal.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>