BancorpSouth Inc. of Tupelo, Miss., is acquiring the $347 million-asset American State Bank Corp. of Jonesboro, Ark.
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The deal, announced Wednesday, would give the $10.8 billion-asset BancorpSouth 11 branches in four northeast Arkansas counties where it currently does not operate.
BancorpSouth, which has 48 branches in 24 communities in other parts of the state, did not say how much it would pay.
American State also operates American State Trust and Financial Services Inc., a provider of brokerage, investment, and wealth management services. The business would be merged into BancorpSouth Investment Services.
The deal is expected to close in the fourth quarter.
