BancorpSouth Completes Acquisitions in Texas and Louisiana

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Jan 16, 2018, 07:00 ET

TUPELO, Miss., Jan. 16, 2018 /PRNewswire/ -- BancorpSouth Bank (NYSE: BXS) welcomed Ouachita Independent Bank (OIB) in Louisiana and First State Bank of Central Texas (FSB) to its eight-state company. Effective January 15, 2018, BancorpSouth completed the respective mergers with the parent company of OIB, Ouachita Bancshares Corp. which is based in Monroe, Louisiana, and with the parent company of FSB, Central Community Corporation which is based in Temple, Texas.

"We are pleased to welcome the teams at OIB and FSB to BancorpSouth as we are like-minded bankers who are customer-focused and community-oriented," said BancorpSouth Chairman and Chief Executive Officer Dan Rollins. "The strength and resources we bring to our newest partners will generate mutual benefits."

At this time, customers should continue using their current branches, checks, bank cards, online banking and other banking services. Detailed communications will be provided to all OIB and FSB customers prior to the system conversions.

"The opportunities ahead are exciting," said BancorpSouth Northeast Louisiana Division President Kevin Koh, former OIB Chief Executive Officer. "Our combined team of proven and experienced bankers will have access to new products and services as well as a greater network of branches to serve and benefit our customers. BancorpSouth's commitment to supporting our communities provides additional strength and the stronger we become, the better for everyone across the entire organization."

"This merger will accelerate our growth in a strong Texas market, and that is good news for everyone involved," said Don Grobowsky, former FSB chairman and Chief Executive Officer who now serves as BancorpSouth's Central Texas Area Chairman and a member of the board of directors. "By joining a powerful regional partner, we are excited about the new products and services we can bring to our customers as well as the additional support we can provide in the communities across our service area."

Rollins concluded, "We saw value in the people, the markets and the futures of these two outstanding organizations, and we are pleased to put our strength, resources and reputation behind good people doing good work in serving their customers and their communities."

About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $17 billion in assets. BancorpSouth operates 276 full-service branch locations as well as additional mortgage, insurance and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com. Follow us on Facebook and Twitter (@MyBXS); or connect with us through LinkedIn.