LAFAYETTE, La., April 27, 2017 /PRNewswire/ -- MidSouth
Bancorp, Inc. ("MidSouth") (NYSE:MSL) today announced Rusty Cloutier's employment as President and CEO
of MidSouth Bancorp, Inc has been terminated. MidSouth also
announced Troy Cloutier's employment
as President and CEO of MidSouth Bank has been terminated.
This decision by the Board of Directors is part of a transition
plan already underway to improve the performance of the Company.
Jim McLemore has been appointed
President and CEO on an interim basis for both the holding company
and bank. Mr. McLemore has over 30 years of banking
industry experience, including 8 years with MidSouth as Senior
Executive Vice President and Chief Financial Officer. Mr.
McLemore will also retain his position as Chief Financial Officer
during the interim period. These leadership changes are
effective immediately. Jake
Delhomme, Chairman of the Board of Directors of MidSouth
Bancorp, Inc. stated, "The Board of Directors is fully supportive
of Mr. McLemore in his immediate endeavors as President and
CEO."
As part of its transition plan, MidSouth has recently hired two
highly qualified executives with very deep experience from larger
financial institutions. Erin
DeWitt recently joined MidSouth as Chief Risk Officer, a
position she held for two years with Scottrade Financial
Services. In the preceding seven years, she worked at Capital
One in various risk roles. Kade
Peterson was recently hired as Chief Information Officer,
after three years as Executive Vice President – Chief Operating
Officer of USAmeriBank in Tampa,
FL. Prior to that he was EVP-Operations and Technology
Executive for Sterling Bank in
Spokane, Washington.
About MidSouth Bancorp, Inc.
MidSouth Bancorp, Inc. is a financial holding company
headquartered in Lafayette,
Louisiana, with assets of $1.9
billion as of March 31, 2017.
MidSouth Bancorp, Inc. trades on the NYSE under the symbol "MSL."
Through its wholly owned subsidiary, MidSouth Bank, N.A., MidSouth
offers a full range of banking services to commercial and retail
customers in Louisiana and
Texas. MidSouth Bank currently has
57 locations in Louisiana and
Texas and is connected to a
worldwide ATM network that provides customers with access to more
than 55,000 surcharge-free ATMs. Additional corporate information
is available at MidSouthBank.com.
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SOURCE MidSouth Bancorp, Inc.
