Ouachita Independent Bank, the biggest bank headquartered in Ouachita Parish, has been sold to BancorpSouth.
BancorpSouth, a publicly traded company on the New York Stock Exchange , runs two branches in Monroe, two in West Monroe, one in Ruston and one in Rayville.
OIB, which White organized in 1997 with $4.3 million in capital, has $665 million in assets with 12 full-service offices in West Monroe, Monroe,Shreveport, Bastrop, and Bossier City and loan production offices in Madison, Miss., and Natchitoches.
OIB also owns Bankers Mortgage Center in Monroe.
OIB board Chairman Clyde White announced his retirement as OIB’s chief executive in December. Kevin Koh replaced White as the chief executive.
Progressive Bank has around $470 million in assets. OIB’s sale leaves Progressive Bank, which is led by George Cummings chief executive, as the lone bank headquartered in OuachitaParish.
Details of the sale are anticipated to be released by BancorpSouth on 9 January 2014.
BancorpSouth, a publicly traded company on the New York Stock Exchange , runs two branches in Monroe, two in West Monroe, one in Ruston and one in Rayville.
OIB, which White organized in 1997 with $4.3 million in capital, has $665 million in assets with 12 full-service offices in West Monroe, Monroe,Shreveport, Bastrop, and Bossier City and loan production offices in Madison, Miss., and Natchitoches.
OIB also owns Bankers Mortgage Center in Monroe.
OIB board Chairman Clyde White announced his retirement as OIB’s chief executive in December. Kevin Koh replaced White as the chief executive.
Progressive Bank has around $470 million in assets. OIB’s sale leaves Progressive Bank, which is led by George Cummings chief executive, as the lone bank headquartered in OuachitaParish.
Details of the sale are anticipated to be released by BancorpSouth on 9 January 2014.