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By Ru Back Packer Staff, updated Thursday, February 1, 8:50 AM

Slide #52. MidSouth Bancorp, Inc. Preferred Stock Offering

Company: MidSouth Bancorp, Inc. (NYSE:MSL)
Date announced: 6/7/2017
Shares Offered: 4,583,334
Date of Pricing: 6/8/2017
Price Per Share: $12.00
Preferred Stock Offering Details: MidSouth Bancorp, Inc. (the "Company") (NYSE:MSL) announced today that it has commenced a public offering of $50.0 million of its common stock through a firm commitment underwritten offering. Subject to receipt of required regulatory approvals, the Company intends to use approximately $32.0 million of the net proceeds of the offering to redeem all of its outstanding Series B Preferred Stock issued to the U.S. Treasury as a result of its participation in the Small Business Lending Fund. The Company intends to use the remaining portion of the net proceeds from this offering to enhance its capital structure, to fund future organic growth, for working capital, and other general corporate purposes. -updated 6/8- MidSouth Bancorp, Inc. (the "Company") (NYSE: MSL) announced today that it has priced an underwritten public offering of 4,583,334 shares of common stock at a price of $12.00 per share, for gross proceeds of approximately $55.0 million. The offering was increased from the previously announced amount of approximately $50.0 million of gross proceeds. Sandler O'Neill + Partners, L.P. is serving as the sole underwriter for the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 687,500 shares of common stock from the Company at the offering price.

MidSouth Bancorp is a financial holding company. Through its bank subsidiary, MidSouth Bank, N.A. (the Bank), Co. is engaged primarily in providing commercial and consumer loan and deposit services. Deposit products and services provided by the Bank include interest-bearing and noninterest-bearing checking accounts, investment accounts, cash management services, and electronic banking services. Loans provided by the Bank include commercial and industrial loans, commercial real estate loans (both owner-occupied and non-owner occupied), other loans secured by real estate and consumer loans. As of Dec 31 2016, Co. had total assets of $1.94 billion and total deposits of $1.58 billion.
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Name: MidSouth Bancorp, Inc.
Website: midsouthbank.com
Sector: Banking & Savings
Number of ETFs Holding MSL: 12 (see which ones)
Total Market Value Held by ETFs: $7,007,938
Total Market Capitalization: $246,000,000
% of Market Cap. Held by ETFs: 2.85%

Open the MSL Page at Ru Back Packer (in a new window) »

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