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 OfficersItem 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
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
On April 26, 2017, the Board of Directors of MidSouth Bancorp, Inc. (“MidSouth”) terminated the employment of C.R. “Rusty” Cloutier as President and Chief Executive Officer of MidSouth and also terminated the employment of Troy Cloutier as Chief Banking Officer of MidSouth and President and Chief Executive Officer of MidSouth Bank, N.A. (“MidSouth Bank”), effective immediately.
On April 26, 2017, the Board of Directors appointed Jim McLemore to serve as President and Chief Executive Officer for both MidSouth and MidSouth Bank on an interim basis. Mr. McLemore, age 57, has served as Senior Executive Vice President and Chief Financial Officer of MidSouth and MidSouth Bank since July 2009. Mr. McLemore will also retain his position as Chief Financial Officer of MidSouth and MidSouth Bank during the interim period. In connection with the increase in responsibilities, Mr. McLemore’s annual base salary will increase from $257,500 to $305,000.
A copy of a press release issued by MidSouth on April 27, 2017 is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
99.1 Press Release dated April 27, 2017.
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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. MidSouth Bancorp, Inc. (NYSE:MSL) Recent Trading Information
MidSouth Bancorp, Inc. (NYSE:MSL) closed its last trading session down -0.10 at 14.75 with 22,706 shares trading hands.
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. MidSouth Bancorp, Inc. (NYSE:MSL) Recent Trading Information
MidSouth Bancorp, Inc. (NYSE:MSL) closed its last trading session down -0.10 at 14.75 with 22,706 shares trading hands.