TUPELO, Miss., Dec. 5, 2018 /PRNewswire/ -- BancorpSouth Bank (BXS) announced today that its Board of Directors has authorized a new share repurchase program to purchase up to an aggregate of 3 million shares of the bank's common stock. This new stock repurchase program will have an expiration date of December 31, 2019. Under the previous share repurchase program, which was completed earlier in the fourth quarter of this year, the bank repurchased 6 million shares of its common stock.
Under the new program, bank shares may be purchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The share repurchase program may be extended, modified, amended, suspended or discontinued at any time at the bank's discretion and does not commit the company to repurchase shares of its common stock. The actual means and timing of purchase, target number of shares and maximum price or range of prices under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of the bank's common stock, general market and economic conditions, and applicable legal and regulatory requirements.
BancorpSouth Bank (BXS) is headquartered in Tupelo, Mississippi, with approximately $18 billion in assets. BancorpSouth operates approximately 285 full service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com. Like us on Facebook; follow us on Twitter: @MyBXS; or connect with us through LinkedIn.
Certain statements contained in this press release may not be based upon historical facts and are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as "anticipate," "believe," "could," "estimate," "expect," "foresee," "hope," "intend," "may," "might," "plan," "will," or "would" or future or conditional verb tenses and variations or negatives of such terms. These forward-looking statements include, without limitation, the terms, timing, logistics and conditions of the bank's share repurchase program, the bank's compliance with applicable law in connection with the administration of the share repurchase program, the bank's utilization of the share repurchase program, and the other factors described under the caption "Risk Factors" in the bank's Annual Report on Form 10-K for the fiscal year ended December 31, 2017 which was filed with the FDIC on February 26, 2018. Forward-looking statements speak only as of the date of this press release and, except as required by law, the bank does not undertake any obligation to update or revise forward-looking statements to reflect events or circumstances that occur after the date of this presentation and the accompanying slides.
The bank cautions readers not to place undue reliance on the forward-looking statements contained in this presentation, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors. Forward-looking statements speak only as of the date of this press release and, except as required by law, the bank does not undertake any obligation to update or revise forward-looking statements to reflect events or circumstances that occur after the date of this press release.