BancorpSouth receives regulatory approval for its mergers with National United Bancshares, Inc. and FNS Bancshares, Inc.
TUPELO, miss., April 7, 2021 / PRNewswire / – BancorpSouth Bank (NYSE: BXS) (“BancorpSouth”) announced that it has received regulatory approval from the Federal Deposit Insurance Corporation to complete its plans to merge with National United Bancshares, Inc., the parent company of National United, (collectively referred to as “National United”), and together with FNS Bancshares, Inc. (OTCQX: FNSB), the parent company of FNB Bank, (collectively “FNS”).
The mergers are currently scheduled to end on May 1, 2021, subject to the satisfaction of the usual closing conditions. From December 31, 2021, National United and FNS collectively reported total assets of $ 1.5 billion, total loans of $ 930 million and total deposits of $ 1.4 billion.
“We are delighted to receive regulatory approval for our mergers with National United and FNS,” said Chairman and CEO of BancorpSouth Dan Rollins. “Both companies are trusted financial institutions that have served their respective communities for over 100 years and have cultures and missions similar to ours. I look forward to welcoming their teammates and clients to the BancorpSouth family.
President and CEO of National United Eugene Worthington added: “We could not be happier to receive regulatory approval. BancorpSouth shares our commitment to providing first class customer service and making a difference in the community.”
Chairman of the SNSF Board of Directors Alan gay “We are proud to partner with BancorpSouth. We are confident that this merger will bring opportunities and benefits to our employees and customers.”
Upon completion of the transaction, Worthington will serve as regional chairman of BancorpSouth and CEO of FNS. Steve rownd will serve as president of the BancorpSouth division.
About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered at Tupelo, Mississippi, with about $ 24 billion in assets. BancorpSouth operates approximately 305 full-service branches as well as mortgage, insurance and supplemental loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance branch in Illinois. BancorpSouth is committed to a culture of respect, diversity and inclusion both in its workplace and in its communities. To learn more, visit our community engagement page at www.bancorpsouth.com; “Like us on facebook; Follow us on [email protected]; or connect with us through LinkedIn.
SOURCE BancorpSouth Bank