BancorpSouth in Tupelo, Miss., has received a “satisfactory” rating in its latest Community Reinvestment Act exam — a possible shot in the arm for its M&A plans.

The upgrade was based on the $14.8 billion-asset bank’s “outstanding” performance on the service test and “high satisfactory” ratings on the lending and investment tests, BancorpSouth said in a regulatory filing Tuesday.

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