BancorpSouth acquires OIB - KNOE 8 News; KNOE-TV; |

BancorpSouth acquires OIB

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TUPELO, Miss. (KNOE 8 News/AP) - BancorpSouth has announced an agreement to acquire Monroe, La.-based Ouachita Bancshares Corp. and its main subsidiary, Ouachita Independent Bank.

It's BancorpSouth's first acquisition since 2007, the company says in a news release.

BancorpSouth says the merger is pending regulatory approval and the approval of OIB shareholders. It is expected to be complete by the second quarter of this year.

OIB has 12 full-service banking offices in Louisiana, with six in Monroe-West Monroe, four in Shreveport-Bossier City and two in Bastrop. It also has loan production offices in Madison, Miss., and Natchitoches, La.

BancorpSouth has $12.9 billion in assets. BancorpSouth Bank operates 292 commercial banking, mortgage, and insurance locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.

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