Lafayette-based MidSouth Bank announced another acquisition this week with its plans to purchase a branch of Beacon Federal Bank in Tyler, Texas.

According to a release from MidSouth, the agreement outlines a $3.3 million purchase price, as well as the buying of $26 million in loans from Beacon and assuming more than $77 million in deposits.

Pending regulatory and shareholder approval, the bank expects the deal to close by Dec. 31.

“We are excited to acquire a branch in the Tyler market, a market that has a long history associated with the oilfield service industry, a key industry for MidSouth,” says MidSouth CEO and President Rusty Cloutier. “Building on a healthy consumer business developed by Beacon and MidSouth’s history of indirect lending in the Tyler market, coupled with our recent acquisitions in Dallas-Fort Worth, we continue to increase our franchise value as we grow our presence in the attractive Texas market.”

For more on the acquisition, visit the MidSouth website and search under the “Investor Relations” tab.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

Loading
Chart
ABiz Stock Watch
o Home Bancorp 22.94 ▲0.44 (1.96%)
o Frank's International 20.49 ▲0.11 (0.54%)
o IberiaBank Corp 66.13 ▼1.02 (-1.52%)
o LHC Group 23.72 ▼0.05 (-0.19%)
o MidSouth Bancorp 18.44 ▼0.06 (-0.32%)
o Petroquest Energy 4.35 ▲0.14 (3.33%)
o PHI Inc. 41.06 0.00 (0.00%)
o Superior Energy 25.48 ▲0.41 (1.64%)
o Stone Energy 23.07 ▲0.49 (2.17%)
o Facebook Inc. 73.74 ▲0.15 (0.20%)
o Twitter Inc. 39.92 ▲0.11 (0.28%)
o Gannett 31.46 ▼0.12 (-0.38%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.94 Trade time:2:45PM EST Value change:▲0.44 (1.96%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:20.49 Trade time:3:21PM EST Value change:▲0.11 (0.54%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:66.13 Trade time:3:20PM EST Value change:▼1.02 (-1.52%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:23.72 Trade time:3:20PM EST Value change:▼0.05 (-0.19%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:18.44 Trade time:2:58PM EST Value change:▼0.06 (-0.32%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:4.35 Trade time:3:21PM EST Value change:▲0.14 (3.33%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:41.06 Trade time:1:32PM EST Value change:0.00 (0.00%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:25.48 Trade time:3:21PM EST Value change:▲0.41 (1.64%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:23.07 Trade time:3:22PM EST Value change:▲0.49 (2.17%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:73.74 Trade time:3:22PM EST Value change:▲0.15 (0.20%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:39.92 Trade time:3:22PM EST Value change:▲0.11 (0.28%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:31.46 Trade time:3:20PM EST Value change:▼0.12 (-0.38%)
Advertisement

Economic Indicators

  • Real Estate Data
    Real Estate
     
    Rentals
     
    Commercial
     
     
  • Energy Data
    Oil
     
    Gas
     
     
  • Taxable Sales
    Register
     
  • Unemployment Rate
    Employment
     
 

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement