This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

BancorpSouth Insurance Services, Inc. To Acquire Assets Of Lafayette, Louisiana Based Knox Insurance Group, LLC

TUPELO, Miss., April 9, 2014 /PRNewswire/ -- 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.

"The Knox acquisition gives us an opportunity to meaningfully expand our market share in Southwest Louisiana," commented Dan Rollins, CEO of BancorpSouth.  "Knox has a strong track record of revenue growth as well as a number of large commercial relationships adding significant value to our current book of business."

Knox was formed in 1972 and currently produces annual revenues of approximately $3 million.  For the past 15 years, Knox operated under the leadership of current owners/brokers Dwayne David and Randall Bonaventure.  Knox will continue to operate under their leadership in its current location at 2014 West Pinhook Road #610 in Lafayette.  Knox has a diverse client base including agricultural processing, construction, energy, manufacturing, marine, medical, and transportation.  Product specialties include, but are not limited to, workers compensation, business auto, property and casualty, and general/umbrella liability.

Markham McKnight, President of BXSI, added, "We are excited about the opportunity to add Dwayne, Randall and their team to our existing agency platform.  They operate a very customer-focused model similar to that of our agency and we are impressed by the book of business that they have been able to build.  We are able to equip them with new product and service offerings  benefiting both current and potential customers."

David commented, "We are delighted to join forces with BancorpSouth, an organization that has a tremendous amount of respect in our industry.  The additional products and services that a company of this scale can provide will be an asset to both Randall and myself, as producers, and to our customer base."  Bonaventure added, "I am thrilled about the possibilities that this new relationship provides.  I am confident that the additional resources that will be at our disposal will even better position us to build on the success that we have had and the momentum that we have built over the last several years."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs