TUPELO, Miss., Nov. 26, 2012 /PRNewswire/ -- BancorpSouth, Inc. (NYSE: BXS) announced today that its board of directors has unanimously appointed James D. Rollins III as the Company's new Chief Executive Officer. Mr. Rollins will succeed Aubrey B. Patterson, BancorpSouth's current CEO, and become a member of BancorpSouth's board of directors on November 27, 2012. Mr. Rollins, age 53, has served as President and Chief Operating Officer of Prosperity Bancshares, Inc., headquartered in Houston, Texas, since April 2006 and has been a director of Prosperity Bancshares since October 2006. Mr. Rollins served as Senior Vice President of Prosperity Bancshares from 2001 until 2006, and became President of Prosperity Bank in 2005. Hassell H. Franklin, the head of the search committee formed to identify BancorpSouth's new CEO, commented, "After a comprehensive search process with the assistance of Spencer Stuart, a global executive search firm, we are very pleased that Dan Rollins emerged as the leading candidate and has agreed to become our new Chief Executive Officer. We welcome Dan to the BancorpSouth family." "BancorpSouth is a respected financial services company in our industry with a long and distinguished record of service to its shareholders, customers and local communities," said Rollins. " Aubrey Patterson's 40-plus years of dedicated service have positioned BancorpSouth well. I am pleased to have this opportunity to follow Mr. Patterson, and to build on such a strong foundation of respect and accomplishment." Earlier this year, BancorpSouth announced Mr. Patterson's plan to retire as Chief Executive Officer. Mr. Franklin continued, "We are pleased that Mr. Patterson has agreed to continue his service as Chairman of the Board. We thank Aubrey for his leadership, his many contributions, and for his devotion to BancorpSouth."