MidSouth Bancorp Inc. announced this week the completion of its merger with PSB Financial Corp.
MidSouth, based in Lafayette, La., in September signed a definitive agreement with PSB Financial Corp., the holding company of Many, La.-based The Peoples State Bank. The transaction was approved by both companies’ boards.
MidSouth Bank is a subsidiary of MidSouth Bancorp and has one Tyler location, at 1330 Old Omen Road, which recently underwent an “extensive renovation.”
MidSouth Bank, which has 13 banking centers in Texas and 27 locations in Louisiana, is a bank holding company with assets of $1.4 billion as of June 30. Through its wholly owned subsidiary, MidSouth Bank, N.A., MidSouth offers a full range of banking services to commercial and retail customers.
As a result of the merger, MidSouth Bank is undertaking a major expansion project for 2013, adding new locations to its Texas footprint in Texarkana, Houston and Greenville, which is subject to regulatory approval. It also plans to open new Louisiana facilities.