MidSouth Bank is reporting record first-quarter earnings this year as it reaps the profits of two acquisitions MidSouth Bank President and CEO Rusty Cloutier says “really paid off.”
The Lafayette-based bank earned $2.5 million for the three-month period that ended March 31, up from $442,000 in earnings the bank reported for the same period in 2011 and the $879,000 the bank earned during the fourth quarter of last year.
Cloutier says the most recent quarter earnings are the result of two acquisitions MidSouth completed in 2011, First Louisiana National Bank of Breaux Bridge and Beacon Federal bank’s Tyler, Texas branch.
“We’re really proud that all of these acquisitions have paid off like we thought they would,” Cloutier says. “The positive results reflect successful leveraging of capital and support infrastructure, as well as the realization of expected cost savings from the deals. We are actively seeking other opportunities to further leverage capital and continue to increase shareholder value.”
There will soon be a whole lot of shakin’ going on at Benny’s Sportshack Supplement Depot, a new concept by Opelousas native Benny Nele. Located at 2002 Johnston St., the supplement shop, smoothie bar and café, featuring hot off the press paninis and wraps, plans to open in late May.
Philip deMahy Sr., a once respected New Iberia ad exec, was sentenced May 2 to spend the next two years (he faced up to 100 years) in a state penitentiary after state and federal investigators found dozens of images depicting children engaged in lewd sexual acts on his personal computer.