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MidSouth Bancorp Inc. has long said that pricing has been to irrational in M&A. News that interest rates will stay low, however, may force an inflection point for sellers.
August 30
MidSouth Bancorp (MSL) in Lafayette, La., announced Monday that it is buying two branches in Baton Rouge from rival Hancock Holding (HBHC).
The $19.3 billion-asset Hancock is the parent of Hancock Bank and Whitney Bank and it is selling branch of each bank. Hancock, of Gulfport, Miss., acquired New Orleans-based Whitney last year.
For the $1 billion-asset MidSouth, the deal would double its number of branches in Baton Rouge and would give it a total of 43 branches in Louisiana and Texas. The company is also building a branch in nearby Carencro and said in a news release that it continues to eye expansion opportunities in and around the state capital.
Pending regulatory approval, MidSouth expects to convert the Hancock branch in September and convert the Whitney branch in October. The companies did not disclose a sale price.
