There are a total of 91 banks currently operating in the state of Mississippi that are also insured by the federal deposit insurance corporation. Of this amount, 68 of these banks are headquartered in the state and therefore can be considered Mississippi-based banks. Banks operating within the state had in total $138 billion of assets, $117 billion of deposits and $81 billion of loans outstanding as of this writing. Looking at the asset composition of banks in Mississippi, residential mortgages made up 15% of the assets managed by these banks. In addition to this, these banks in total employ 21,094 people within the state. This represents 0.7% of the population.

Density of Banks in Mississippi

Banks in Mississippi currently have a total of 1,093 branches located within the state. This equates to 3.7 branches per 10,000 people in Mississippi.  If we take the data on the banks in Mississippi and compare it with the banks operating in other states, we find that on this metric, banks in Mississippi rank 8th out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Another way to view this is by looking at the physical accessibility. On this basis, banks in Mississippi had on average 2.3 branches per 100 square miles. As a result, Mississippi ranks 34th out of 52 states and territories in terms of most branches per square mile.

Performance of Banks in Mississippi

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  • Net Interest Margin – banks in the state of Mississippi are on average above the average bank’s net interest margin in the United States. This is for FDIC-insured banks only. Overall, the net interest margin for banks in Mississippi is ranked 25th out of the 52 states and main territories in the United States.
  • Return on Assets – in terms of this important return metric, banks in this state are on average lower than the national average. Altogether the Return on Assets for the banks in Mississippi is ranked 34th out of the 52 states and main territories in the country.
  • Return on Equity – banks in this state on average have a lower return on equity than the national average. Overall, the Return on Equity for banks in Mississippi is ranked 36th out of the 52 states and main territories in the country.
  • Loan to Deposit – this is an important metric to gauge the liquidity of a bank. Banks in this state are on average below the national average when it comes to loan to deposit. A lower loan to deposit ratio means the bank is more comfortably funding its loan activities using its deposit base. Overall, banks in Mississippi are ranked 29th out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric is a good way to compare the quality of the assets of a bank as well as the performance of the assets. Banks operating in the state of Mississippi are on average better than the national average when it comes to nonperforming assets. The level of nonperformance is what is important as a higher figure indicates a lower quality or a lower performing asset base. In total, banks in Mississippi are ranked 32nd out of the 52 states and main territories in the country on this metric.

5 Largest Banks in the state of Mississippi

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As of this writing Trustmark National Bank is the largest bank operating in Mississippi and this is based on its share of deposits within the state. Trustmark National Bank currently has a 14% share of the deposits within the state. Below is summary information on the top 5 largest banks in Mississippi.

Trustmark National Bank

Trustmark National Bank currently has the largest share of deposits within the state and has $9.7 billion of deposits. In addition to this the bank also has 106 offices within the state, which represents 54% of its total domestic offices.

Main Office Address: 248 E. Capitol St. Jackson, MS 39201

Website: http://www.trustmark.com

Regions Bank

Regions Bank currently has the second largest share of deposits within the state and has $9.5 billion of deposits. The bank also has 109 offices within the state, which represents 8% of its total domestic offices.

Main Office Address: 1900 5th Ave. N. Birmingham, AL 35203

Website: http://www.regions.com

Bancorpsouth Bank

Bancorpsouth Bank currently has the third largest share of deposits within the state and has $8.0 billion of deposits. The bank also has 90 offices within the state, which represents 25% of its total domestic offices.

Main Office Address: 201 S. Spring St. Tupelo, MS 38804

Website: www.bancorpsouth.com

Renasant Bank

Renasant Bank currently has the fourth largest share of deposits within the state and has $5.0 billion of deposits. Further, the bank also has 68 offices within the state, which represents 40% of its total domestic offices.

Main Office Address: 209 Troy St. Tupelo, MS 38801

Website: www.renasantbank.com

Hancock Whitney Bank

Hancock Whitney Bank currently has the fifth largest share of deposits within the state and has $4.1 billion of deposits. In addition, the bank also has 37 offices within the state, which represents 18% of its total domestic offices.

Main Office Address: 2510 14th St. Gulfport, MS 39501

Website: www.hancockwhitney.com