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OIB bank sale finally close to 'finish line'

"BancorpSouth is a great cultural fit with an operating style that is very similar to that of our company," Koh said in a press release. "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." 

The Tupelo, Miss.-headquartered Bancorp South also received regulatory approval to buy First State Bank Central Texas, a deal that had also been delayed four years.

"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.