TUPELO, Miss. (WTVA) - BancorpSouth Bank is set to acquire two banks in Alabama and Texas.
The Tupelo-based banking company has signed a definitive merger agreement with Merchants Trust, Inc. which is based in Jackson, Alabama.
Merchants operates six full-service banking offices in Clarke and Mobile counties in Alabama.
The merger will expand BancorpSouth’s banking company’s presence in Mobile County, Ala., and allow it to enter new markets in the surrounding counties.
The transaction is expected to close during the first half of next year.
BancorpSouth Bank is also set to acquire Casey Bancorp, Inc. and its wholly-owned subsidiary, Grand Bank of Texas.
Grand Bank operates four full-service banking offices in Dallas, Grand Prairie, Horseshoe Bay and Marble Falls in Texas.
BancorpSouth currently operates 59 full-service banking offices in Texas, including two in the Dallas-Fort Worth metroplex and 32 in Central Texas.
This transaction is expected to close during the first half of 2019.