LAFAYETTE, La., Jan. 2 /PRNewswire-FirstCall/ -- MidSouth Bancorp, Inc. today announced it would release its fourth quarter earnings results on January 25, 2007, after the stock market closes.
The Company also announced that it expects fourth quarter earnings to be lower than its results for the third quarter 2006. The Company notes that annual earnings for the calendar year 2006 are expected to be higher than annual earnings for calendar year 2005. A primary factor impacting fourth quarter results is the significant costs incurred to upgrade its network and phone system, resulting in an impairment loss pursuant to SFAS No. 144, Impairment or Disposal of Long-Lived Assets, related to the existing network and phone assets. Other factors affecting fourth quarter results include marketing and personnel expenses incurred related to both pre-opening of new locations and the name change of the Lamar Bank franchise to MidSouth Bank.
MidSouth Bancorp, Inc. is a two-bank holding company headquartered in Lafayette, Louisiana whose wholly-owned active subsidiaries are MidSouth Bank, N.A., also headquartered in Lafayette, and MidSouth Bank, headquartered in Beaumont, Texas. The Company recently announced a name change for the Texas subsidiary from Lamar Bank to MidSouth Bank. The Company's franchise consists of 29 banking offices throughout south Louisiana and southeast Texas. The Company'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, the Company's performance and financial results. A number of factors and uncertainties could cause actual results to differ from anticipated results and expectations.
