Bailout Bank Bio: MidSouth Bancorp (MidSouth Bank)

May 29, 2009 | 2 min read | Print Article

MidSouth Bancorp, Inc. operates as the holding company for MidSouth Bank, N.A., which provides commercial and retail community banking services to professional, commercial, and industrial customers in south Louisiana and southeast Texas. The company offers NOW, money market, time, and savings deposits; interest bearing and non-interest bearing checking accounts; and certificates of deposit. It also provides commercial, financial, agricultural, and lease loans; real estate mortgage and construction loans; and installment loans to individuals. In addition, the company offers investment accounts, cash management services, electronic banking services, credit cards, and secured and unsecured loan products. As of March 31, 2008, it operated 34 locations and approximately 120 ATMs. The company was founded in 1984 and is headquartered in Lafayette, Louisiana.

In January the company began participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $20 million in exchange for shares of preferred stock.

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Bailout Bank Bio: MidSouth Bancorp (MidSouth Bank)


Federal Equity Investment	$20 million
Total Revenue	$70.6 million (2008) $71.4 million (2007)
Net Income	$5.5 million (2008) $8.8 million (2007)
Number of Employees	418
Corporate Headquarters	Lafayette, Louisiana
Business Sector	Bank
Officers and Directors	Cloutier, C. Rusty, President, Chief Executive Officer of the Company and MidSouth LA Charbonnet, Will, Chairman of the Board Other Officers and Directors
Corporate Website	http://www.midsouthbank.com
Executive Compensation	MidSouth Bancorp