Mergers give BancorpSouth Bank more presence in Texas, Florida

BancorpSouth Bank is expanding in both Texas and Florida.

Posted: Mar 6, 2019 2:07 PM
Updated: Mar 6, 2019 3:22 PM

Editor's Note: This article has been modified to include the Florida merger.

TUPELO, Miss. (WTVA) - BancorpSouth Bank is expanding its presence in Texas and Florida by merging with two banks.

The Tupelo-based bank signed definitive merger agreements with Van Alstyne Financial Corporation, the parent company of Texas Star Bank, and with Summit Financial Enterprises, Inc., the parent company of Summit Bank in Florida.

The agreements will merge both the Texas Star and Summit with and into BancorpSouth Bank.

Texas Star Bank operates locations near the Dallas-Fort Worth area and in Durant, Oklahoma.

"This is a great opportunity for us to expand our presence in the booming Dallas-Fort Worth area," said Dan Rollins, Chairman and Chief Executive Officer of BancorpSouth Bank.

Summit has a full-service banking office in Miramar Beach and Crestview. It also has offices in Panama City, Panama City Beach, Fort Walton Beach and Pensacola.

The transactions are expected to close during the second half of 2019, pending regulatory approval and satisfaction of the other customary closing conditions.

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