BancorpSouth, Inc. (NYSE: BXS), the parent company of BancorpSouth Bank (collectively referred to as “BancorpSouth”), has announced the retirement of its Senior Executive Vice President, Treasurer and Chief Financial Officer, William L. “Bill” Prater effective as of March 10, 2017.
BancorpSouth and Mr.
Prater have entered into a post-retirement consulting agreement outlining the terms of Mr. Prater’s planned early retirement. Mr. Prater intends to serve BancorpSouth in his current roles through the completion of BancorpSouth’s 2016 audit.
The post-retirement consulting arrangement calls for Mr. Prater to perform certain limited services in order to affect an orderly transition of his duties to his successor. His early retirement does not reflect any dispute or disagreement with BancorpSouth or its management.
“We thank Bill for his contributions to BancorpSouth over the past eight years, and we wish him well in his future endeavors,” said Dan Rollins, BancorpSouth’s Chairman and Chief Executive Officer. “Bill’s leadership during the very difficult years after the financial crisis of 2008 has benefited our company and our shareholders.”
BancorpSouth has commenced its process to identify a successor to Mr. Prater.