BancorpSouth's wealth management business closed 2015 with a disappointing fourth quarter, according to the latest financial results released by the bank's parent on Monday evening.

The Tupelo, Miss.-based regional bank generated $5.4 million in fourth-quarter revenue from its wealth management operations, down 9.3% year-over-over and down 3.4% from the previous quarter. For the full year, wealth management revenue dropped 5.3% to $22.7 million from $23.9 million in 2014.

The bank includes revenue from annuities, retail brokerage and trust services in its total wealth management figure. 

Trust services produced the greatest revenue, bringing in $3.5 million in the fourth quarter, followed by brokerage, which generated $1.5 million. Revenue from both trust services and brokerage were down from the fourth quarter in 2014, falling 8.5% and 2.5%, respectively. Fees from annuities, which brought in $449,000, plunged 30% year-over-year.

For all of 2015, trust services generated $14.7 million, down 1.2% from the prior year. Fees and commissions from brokerage produced $6 million, off 9.2% from 2014. Annuities brought in $2 million for the year.

Overall, BancorpSouth earned $21.2 million, or 22 cents per diluted share, in the fourth quarter, compared with $28.7 million, or 30 cents per diluted share, it earned in the same quarter the prior year.

"Despite elevated legal and foreclosed property expense, we continue to be pleased with our core fundamental performance," Dan Rollins, BancorpSouth's chairman and CEO, said in a statement. "We reported nice loan and deposit growth for the quarter. Additionally, both our net interest margin and our credit quality indicators remained stable."

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