Financial Advisor
National United Bancshares, Inc.
M&A Advisory
Has Merged With And Into
Transaction Details
- On December 2, 2020, BancorpSouth Bank (“BancorpSouth”) announced the signing of a definitive agreement with National United Bancshares, Inc., the parent company of National United, (collectively “National United”)
- Under the terms of the agreement, BancorpSouth will issue 3.11 million shares of common stock and $33.25 million in cash to National United shareholders
- National United, which was founded in 1889 in Gatesville, Texas, operates six full-service banking offices in the KilleenTemple, Texas; Waco, Texas; and Austin-Round RockGeorgetown, Texas MSAs
- As of September 30, 2020, National United reported total assets of $748.6 million, total loans of $450.6 million and total deposits of $672.5 million
- The transaction is expected to close in the first half of 2021
About the company
BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $24 billion in assets. BancorpSouth operates approximately 310 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com; "Like" us on Facebook; follow us on Twitter @MyBXS; or connect with us through LinkedIn.
Sources: Company Filings, S&P GlobalMarketIntelligence and publicly available information
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