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.
The following changes have occurred with respect to MidSouth Bancorp, Inc. (the “Company”) and MidSouth Bank, N.A. (the “Bank”) as part of strategic realignment:
Jeff Blum resigned from his position of Senior Executive Vice President and Chief Lending Officer of the Company and the Bank effective as of January 2, 2018. In lieu of appointing a replacement, the position of Chief Banking Officer has been established for the Bank and Chris Mosteller, the Bank’s North Texas Regional President, has been appointed to such position, pending regulatory approval. James R. McLemore, President and Chief Executive Officer of the Company and the Bank, will assume the reporting and working responsibilities of this position until regulatory approval is obtained for Mr. Mosteller’s appointment.
Teri S. Stelly has departed from her position of Controller and Chief Accounting Officer of the Company and the Bank, effective as of January 5, 2018. Lorraine D. Miller, Executive Vice President and Chief Financial Officer of the Company and the Bank, will serve as Chief Accounting Officer on an interim basis.
Item 8.01. OTHER EVENTS.
The Company and the Bank have requested approval from the appropriate regulatory authorities for D. Michael Kramer to join the Boards of Directors of the Company and the Bank. The Bank intends to engage Mr. Kramer as a consultant to provide general policy advice while regulatory approval is pending.
Mr. Kramer (age 59) served as President and Chief Operating Officer of Atlantic Capital Bancshares, Inc. (NYSE: ACBI, “Atlantic Capital”) from November 2015 to December 2017 and was also a member of the Board of Directors of Atlantic Capital from November 2015 to October 2017. Prior to that, he served as Chief Executive Officer and President of First Security and FSGBank, N.A. from 2011 through 2015, as Managing Director of Ridley Capital Group from 2010 to 2011, as director, Chief Executive Officer and President of Ohio Legacy Corporation from 2006 to 2010, and as Chief Operating Officer and Chief Technology Officer of Integra Bank Corporation from 1999 to 2004. Mr. Kramer serves as a member of the Board of Directors of the Chattanooga Area Chamber of Commerce, the Tennessee Banker’s Association and the UC Foundation.
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.