MidSouth Bancorp, Inc. (NYSE:MSL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On March 27, 2019, the Board of Directors of MidSouth Bancorp, Inc. (the “Company”) increased its size and appointed Ryan C. Medo as a member of the Company’s Board of Directors effective immediately. Mr. Medo will serve as a Class I director with a term expiring at the Company’s annual meeting of shareholders in 2019. Mr. Medo previously joined the Company in an advisory capacity pending the receipt of a non-objection from the appropriate regulatory authorities that is required for him to join our Board of Directors that has now been obtained. Mr. Medo was also appointed to the Company’s Audit Committee and Corporate Governance, Nominating and Compensation Committee. As a director, Mr. Medo will be entitled to receive compensation for his services in the form of board fees and equity awards as provided in the Company’s proxy statement regarding director compensation.
Mr. Medo (42), is the founder of RTO I, LLC, a real estate investment and management company based in Birmingham, Alabama, and has also served as its Managing Member since 2015. Mr. Medo was an investment banker with Sterne Agee from 1999 to 2015 and served on the Board of Directors of Sterne Agee until their sale to Stifel Nicolaus & Co in 2015. Mr. Medo was also an organizer of CommerceOne Bank, Inc., a Birmingham, Alabama based community bank, which commenced operations in June 2018. Mr. Medo has a Bachelor’s degree in Finance from the University of Alabama and a Master’s Degree in Business Administration from the University of New Orleans.
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.