MidSouth completes PSB acquisition

MidSouth Bancorp Inc., the parent company for MidSouth Bank NA in Lafayette, has completed its acquisition of PSB Financial Corp., the holding company of Peoples State Bank in Many.

The bank said the transaction enhances MidSouth’s connection between Louisiana and Texas by expanding the bank’s presence north from Acadiana up to Texarkana.

Over the weekend, signs on all 15 Peoples State Bank branches will be changed to MidSouth Bank. Full conversion of systems, products and services will take place in late March 2013.

Leonard Q. “Pete” Abington, chairman and president of PSB, has been named to the board of directors of MidSouth and its subsidiary, MidSouth Bank. John J. “JJ” Blake III, president and CEO of Peoples State Bank, has been named senior vice president and regional president of MidSouth Bank’s Timber Region.

MidSouth Bancorp Inc. had assets of $1.9 billion as of Dec. 28. MiddSouth Bank currently has 57 banking centers in Louisiana and Texas.