TUPELO, Miss. (AP) – BancorpSouth Inc., the parent of BancorpSouth Bank, is offering a voluntary early retirement package to employees age 60 and over with 10 consecutive years of experience with the company.
BancorpSouth spokesman Randy Burchfield says in a statement that the company does not know how many employees might accept the package. He says the company is not releasing details on what is being offered.
BancorpSouth employs about 4,200 employees at more than 270 locations in eight states.
In April, BancorpSouth said profit fell in the first quarter as lower interest rates cut into its income.
The bank said profit fell to $20.8 million, or 22 cents per share, in the quarter that ended March 31. That’s down about 9 percent from the same three months of 2012.