BancorpSouth Bank Receives Regulatory Approval for Mergers


BancorpSouth Bank (NYSE: BXS) today announced it has received regulatory approvals from the Federal Deposit Insurance Corporation and the Mississippi Department of Banking and Consumer Finance, necessary to complete the proposed mergers of Ouachita Bancshares Corp., parent company of Ouachita Independent Bank (collectively, "OIB"), headquartered in Monroe, Louisiana and Central Community Corporation, parent company of First State Bank Central Texas (collectively, "CCC"), headquartered in Austin, Texas with and into BancorpSouth Bank.

Subject to the completion of customary closing items, the mergers are expected to close effective January 15, 2018.

"We are pleased to have secured the necessary regulatory approvals and are working to complete both transactions," said Dan Rollins, BancorpSouth Chairman and Chief Executive Officer. "Our team is diligently executing our overall strategic plan and these acquisitions are significant to our company and an integral part of our future."

"Adding OIB strengthens our competitive position along the I-20 corridor in Louisiana," Rollins added. "The addition of CCC expands our capabilities in vibrant markets in and around Austin, Texas, a hotbed of growth and economic activity."

Kevin Koh, Chief Executive Officer of Ouachita Bancshares Corp. added, "BancorpSouth is a great cultural fit with an operating style that is very similar to that of our company. Both banks have a longstanding reputation for their commitment to the communities they serve as well as the customer-focused models that both operate. We believe these core similarities will make for a seamless and successful transition over to BancorpSouth Bank."

Donald Grobowsky, Chairman, President, and Chief Executive Officer of Central Community Corporation stated, "We are excited about the additional products, services, and resources that our partnership with BancorpSouth will provide to our customers. Both organizations are built on superior customer service and a commitment to the communities they serve. We look forward to partnering with the entire BancorpSouth team and contributing to the growth and success of our combined franchise." Upon completion of the merger with CCC, Grobowsky will become a member of the board of directors of BancorpSouth.

Upon completion of these two mergers, BancorpSouth will become the 7th largest bank in Louisiana, up from 12th and will improve to 29th in deposit market share in Texas, up from 66th.

About BancorpSouth Bank

BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with $14.8 billion in assets. BancorpSouth operates 234 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennesseeand 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; "Like" us on Facebook; follow us on Twitter @MyBXS; or connect with us through LinkedIn.

About First State Bank Central Texas

First State Bank Central Texas is a community bank chartered in 1909 and headquartered in Austin, Texas. The bank's mission is helping communities achieve and today it operates 31 branches in 13 counties throughout Central Texas and the Texas Hill Country. First State Bank Central Texas has $1.4 billion in assets and is a subsidiary of Central Community Corporation. To learn more visit

About Ouachita Independent Bank

Ouachita Independent Bank is a community bank located in Ouachita, Morehouse, Caddo and Bossierparishes in Louisiana. A subsidiary of Ouachita Bancshares Corp., Ouachita Independent Bank has 12 banking locations and $730 million in total assets. Ouachita Independent Bank is committed to responsibly giving back to the Louisiana parishes where it is rooted. To learn more visit

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