BancorpSouth Inc. of Tupelo, Miss., has entered Florida by opening a full-service branch in Destin nearly four months after buying a banking charter there.
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"This adds a seventh state to the BancorpSouth franchise and expands our existing Gulf Coast footprint eastward from the Mississippi Gulf Coast and Gulf Shores [of] Alabama to Florida's Emerald Coast," Aubrey B. Patterson, BancorpSouth's chairman and chief executive officer, said last week in a press release.
On May 19, the $11.8 billion-asset BancorpSouth announced plans to buy a Florida charter from Superior Bancorp in Birmingham, Ala. Out-of-state banking companies cannot build branches in Florida without obtaining a charter there.
