MidSouth Bancorp, Inc. (NYSE:MSL) Files An 8-K Costs Associated with Exit or Disposal Activities
Item 2.05. Costs Associated with Exit or Disposal Activities.

The information included in Item 8.01 regarding the branch closures is incorporated by reference into this Item 2.05.

Item 8.01. Other Events.

On June 30, 2017, MidSouth Bank, N.A. (“MidSouth Bank”), the banking subsidiary of MidSouth Bancorp, Inc. (the “Company”),notifiedtheOfficeoftheComptrolleroftheCurrency andthe impacted customers and employees ofitsintention to close seven branch offices. The branches being closed are at the following locations: Jeanerette, River Ranch (Lafayette), Prospect (Houma), Cut-Off, and Super 1 (New Iberia) in Louisiana; White Rock (Dallas) and Veterans Memorial (Houston) in Texas.

The branch closures are expected to occur in September or October of this year, subjecttoapplicableregulatoryrequirements. The affected branches are low traffic facilities and MidSouth Bank expects to fully serve the affected customers through its remaining branch network and electronic services.

As a result of the branch closures, the Company expects to record a total pre-tax charge of approximately $790,000, which will occur during the second quarter of 2017. This charge will consist of approximately $220,000 in cash costs associated with impactedemployees and $570,000 in costs associated with market value adjustments recorded on two owned branch facilities, net of selling costs. Additionalcharges of approximately $777,000 associated with impairments of leasehold improvements, furniture and equipment and other net costs are expected to occur in the third or fourth quarter, depending upon the timing of the closures.

OnJune 30,2017,MidSouth Bank also entered into a Branch Purchase and Assumption Agreement with Bank of Montgomery providing for the sale of two MidSouth Bank branch offices located in Alexandria, Louisiana, including approximately $28 million in deposits and approximately $18 million in loans associated with the offices. A charge of approximately $83,000 in cash costs associated with the impacted employees occurred during the second quarter of 2017. The completion of the branch sale is expected to occur in the fourth quarter of 2017, subject to receipt of regulatory approvals and the satisfaction of customary closing conditions.

The branch closures and divestures are in the interest of operational efficiency and are part of the Company’s previously disclosed strategic initiatives to improve the performance and overall condition of the Company.

About MidSouth Bancorp, Inc. (NYSE:MSL)

MidSouth Bancorp, Inc. is a financial holding company. The Company operates primarily through its wholly owned bank subsidiary, MidSouth Bank, N.A. The Company is operating principally in the community banking business by providing banking services to commercial and retail customers through the Bank. The Bank is community oriented and focuses primarily on offering commercial and consumer loan and deposit services to individuals and small to middle market businesses in Louisiana, and central and east Texas. Deposit products and services offered by the Bank include interest-bearing and noninterest-bearing checking accounts, investment accounts, cash management services and electronic banking services, including remote deposit capturing services, Internet banking, and debit and credit cards. Loans offered 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.