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BancorpSouth merger to help bank expand in Texas

BancorpSouth Bank recently announced the signing of a definitive merger agreement with Icon Capital Corporation and its wholly owned subsidiary, Icon Bank of Texas, National Association pursuant to which Icon Capital Corporation will be merged with and into BancorpSouth Bank.

Posted: Apr 20, 2018 9:58 AM

TUPELO, Miss. (WTVA/Press Release) - BancorpSouth Bank recently announced the signing of a definitive merger agreement with Icon Capital Corporation and its wholly owned subsidiary, Icon Bank of Texas, National Association pursuant to which Icon Capital Corporation will be merged with and into BancorpSouth Bank.

Icon operates seven full-service banking offices in the Houston, Texas metropolitan area.

Under the terms of the merger agreement, BancorpSouth Bank will issue 4,125,000 shares of BancorpSouth Bank common stock, plus $17.5 million in cash, for all outstanding shares of Icon Capital Corporation capital stock, subject to certain conditions and potential adjustments.

"We are very pleased to have the opportunity to meaningfully expand our presence in the vibrant Houston, Texas metropolitan area," commented Dan Rollins, Chairman and Chief Executive Officer of BancorpSouth Bank. "We entered this market in 2014 with the opening of loan production offices in Friendswood and Sugar Land, which were recently converted to full-service branches. The co-founders of Icon, Mark Reiley and John Green, are both highly regarded bankers in this market. The Icon team will be an integral part of our ability to continue to grow strategically both broadly as a Company and more specifically in this market."

The merger has been unanimously approved by the Boards of Directors of both companies. The closing of the transaction is subject to certain conditions, including the approval by Icon's shareholders and customary regulatory approvals. The transaction is anticipated to close during the second half of 2018, pending regulatory approval and satisfaction of the other customary closing conditions.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 313942

Reported Deaths: 7240
CountyCasesDeaths
DeSoto21580258
Hinds20330415
Harrison17879309
Rankin13594278
Jackson13429246
Madison10088217
Lee9970174
Jones8370163
Forrest7670152
Lauderdale7188241
Lowndes6387146
Lamar622486
Lafayette6184118
Washington5332133
Bolivar4801132
Oktibbeha462198
Panola4582106
Pearl River4506146
Marshall4435103
Warren4386121
Pontotoc420172
Monroe4107133
Union410076
Neshoba4030176
Lincoln3962110
Hancock378486
Leflore3493125
Sunflower335990
Tate333384
Pike3316105
Scott315773
Alcorn312768
Yazoo311469
Itawamba299777
Copiah296865
Coahoma295179
Simpson294988
Tippah288168
Prentiss279760
Adams278782
Marion269080
Leake267473
Wayne262641
Grenada261386
Covington258281
George247848
Newton246261
Winston227081
Tishomingo226667
Jasper221048
Attala214273
Chickasaw207757
Holmes188873
Clay185254
Stone182433
Tallahatchie178541
Clarke177980
Calhoun170532
Yalobusha164238
Smith162334
Walthall133945
Greene130533
Lawrence128524
Montgomery126742
Noxubee126734
Perry126338
Amite123042
Carroll121828
Webster114532
Jefferson Davis107033
Tunica105226
Claiborne102430
Benton99525
Humphreys96533
Kemper95728
Franklin83623
Quitman80716
Choctaw76318
Wilkinson67230
Jefferson65528
Sharkey50217
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 531404

Reported Deaths: 10985
CountyCasesDeaths
Jefferson765501522
Mobile41036805
Madison34789503
Tuscaloosa25788453
Montgomery24340589
Shelby23449249
Baldwin21154308
Lee15882171
Calhoun14511314
Morgan14306279
Etowah13843353
Marshall12232223
Houston10570281
Elmore10068205
Limestone9974151
Cullman9676194
St. Clair9661243
Lauderdale9427241
DeKalb8831186
Talladega8227176
Walker7241277
Autauga6926108
Jackson6814112
Blount6678137
Colbert6306134
Coffee5519119
Dale4838111
Russell441538
Chilton4296112
Franklin426082
Covington4129118
Tallapoosa4023152
Escambia393677
Chambers3573123
Dallas3551152
Clarke351161
Marion3122101
Pike310977
Lawrence300398
Winston274473
Bibb260964
Geneva250477
Marengo249564
Pickens234461
Barbour231057
Hale223077
Butler216069
Fayette212562
Henry188844
Cherokee185245
Randolph180542
Monroe177540
Washington167339
Macon159650
Clay156756
Crenshaw152557
Cleburne148941
Lamar142535
Lowndes138853
Wilcox127130
Bullock122841
Conecuh110529
Perry107726
Coosa107628
Sumter104732
Greene92534
Choctaw60724
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