LAFAYETTE, La., Feb. 3 /PRNewswire-FirstCall/ -- C. R. "Rusty" Cloutier, President & Chief Executive Officer of MidSouth Bancorp, Inc. will make a presentation about the Company during the Southeast SuperCommunity Bank Conference to take place in Atlanta on February 6th and 7th. The Conference is sponsored jointly by twenty-six community banks, presenting to an audience of institutional investors, high net-worth individuals and analysts from leading investment banking firms.
The Conference provides small and mid-cap banks with an opportunity to reach a wide audience of investors specifically interested in this sector of the banking industry.
The Company's press release on earnings of January 27, 2006 noted total consolidated assets increased $88.7 million or 14.5%, from $610.1 million at December 31, 2004 to $698.8 million at December 31, 2005. Total loans grew $56.3 million or 14.6%, from $386.5 million at December 31, 2004 to $442.8 million at December 31, 2005, primarily in commercial and real estate credits. Total deposits grew $94.5 million or 17.8%, from $530.4 million at December 31, 2004 to $624.9 million at December 31, 2005. Of the $94.5 million growth in deposits, $53.2 million was in non-interest bearing deposits, which increased that portfolio to 28% of total deposits at December 31, 2005. Interest-bearing deposits increased $41.3 million, primarily in the Company's Platinum money market accounts.
Pursuant to inquiries from analysts, Mr. Cloutier will expand his presentation to report on the growth of the recent Texas acquisition, Lamar Bank, during the year 2005. Total assets for Lamar Bank increased $21 million or 17%, from $125 million at December 31, 2004 to $146 million at December 31, 2005. Total loans grew $11 million or 14%, from $79 million at December 31, 2004 to $90 million at December 31, 2005. Total deposits grew $23 million or 23%, from $99 million at December 31, 2004 to $122 million at December 31, 2005.
The presentation will be accessible live via Internet at a link on the Corporate Relations page of the Company's website. The website will be archived on the website for 60 days following the presentation. The website address is http://www.midsouthbank.com/ . To listen to the live webcast, please go to the website at least fifteen minutes early to download and install any necessary software. MidSouth's presentation will take place on Tuesday, February 7th, 2006 at 9:10 a.m. (ET).
MidSouth's common stock is traded on the American Stock Exchange under the symbol MSL.
The Private Securities Litigation Act of 1995 provides a safe harbor for disclosure of information about a company's anticipated future financial performance. This act protects a company from unwarranted litigation if actual results differ from management expectations. This press release reflects management's current views and estimates of future economic circumstances, industry conditions, MidSouth's performance and financial results. A number of factors and uncertainties could cause actual results to differ from anticipated results and expectations.
