BancorpSouth Completes Merger with Texas First Bancshares, Inc.

TUPELO, Miss., Jan. 2, 2020 /PRNewswire/ -- BancorpSouth Bank (NYSE: BXS) ("BancorpSouth") has completed its previously announced merger with Texas First Bancshares, Inc., the parent company of Texas First State Bank (collectively referred to as "Texas First"), effective January 1, 2020.

"We're delighted to announce the completion of our merger with Texas First," said BancorpSouth Chairman and Chief Executive Officer Dan Rollins. "Both of our banks share similar philosophies and a strong commitment to our customers and communities. This is a positive step in our growth strategy, and we're excited to welcome Texas First's customers and teammates to BancorpSouth and expand our geographic footprint."

At this time, customers should continue using their current branches, checks, debit/ATM cards, online banking and other banking services. Detailed communications will be provided to all Texas First customers prior to the system conversion.

"We're excited to join the BancorpSouth team and look forward to the opportunities and benefits this combination will bring to our customers, teammates and shareholders," said BancorpSouth Waco, Texas Chairman Rodney Kroll, former chairman and chief executive officer of Texas First. "We're confident this transaction will create long-term value and enhance our ability to deliver the best products and services from the same bankers our customers already know and trust."

About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $21 billion in assets.  BancorpSouth operates approximately 310 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.  BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com; "Like" us on Facebook; follow us on Twitter@MyBXS; or connect with us through LinkedIn.

Forward-Looking Statements 
Certain statements made in this news release are not statements of historical fact and constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "continue," "will," "anticipate," "seek," "aspire," "roadmap," "achieve," "estimate," "intend," "plan," "project," "projection," "forecast," "goal," "target," "would," and "outlook," or the negative version of those words or other comparable words of a future or forward-looking nature. These forward-looking statements include, without limitation, those relating to the integration processes after the closing of the merger with Texas First (the "Merger"), acceptance by Texas First's customers of BancorpSouth's products and services, the opportunities for BancorpSouth to enhance market share in certain markets, market acceptance of BancorpSouth generally in new markets and the benefits and synergies expected from the proposed Merger.

These forward-looking statements are not historical facts, and are based upon current expectations, estimates and projections about BancorpSouth's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain, involve risk and are beyond BancorpSouth's control. The inclusion of these forward-looking statements should not be regarded as a representation by BancorpSouth or any other person that such expectations, estimates and projections will be achieved. Accordingly, BancorpSouth cautions that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict and that are beyond BancorpSouth's control. Although BancorpSouth believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this news release, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.

If one or more events related to these or other risks or uncertainties materialize, or if BancorpSouth's underlying assumptions prove to be incorrect, actual results may differ materially from BancorpSouth's forward-looking statements. Accordingly, undue reliance should not be placed on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this news release, and BancorpSouth does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for BancorpSouth to predict their occurrence or how they will affect BancorpSouth.

 

SOURCE BancorpSouth Bank

For further information: John G. Copeland, Senior Executive Vice President and Chief Financial Officer, 662/680-2536; Will Fisackerly, Executive Vice President and Director of Corporate Finance, 662/680-2475; Media Contact: Antrenise Robinson, Corporate Communications, 662/680-2038

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