TUPELO, Miss., May 3, 2021 /PRNewswire/ -- BancorpSouth Bank
(NYSE: BXS) ("BancorpSouth") has completed its previously announced
mergers with National United Bancshares, Inc., the parent company
of National United (collectively referred to as "National United"),
and with FNS Bancshares, Inc. (OTCQX: FNSB), the parent company of
FNB Bank (collectively referred to as "FNS"), effective
May 1, 2021.
"We're pleased to announce the completion of these two mergers,
which represent positive steps forward in our growth strategy,"
said BancorpSouth Chairman and Chief Executive Officer Dan Rollins. "Both National United and FNB Bank
are excellent complements to our existing company. By combining
with them, we're able to expand our presence in key markets and
align with respected bankers who share our commitment to
service."
At this time, customers should continue using their current
branches, checks, debit/ATM cards, online banking and other banking
services. All National United and FNB Bank customers will soon
receive detailed communications.
"We're pleased to join BancorpSouth's team and have the ability
to provide expanded banking services to our customers in
Central Texas and additional
growth opportunities for our employees," said BancorpSouth Area
Chairman Eugene Worthington, former
president and chief executive officer of National United. "This has
been a positive experience for everyone involved and will provide
significant long-term value for our stakeholders."
Steve Rownd, BancorpSouth
president - Tennessee Valley division and former chief executive
officer of FNS, added, "The completion of this merger is a great
accomplishment for our organization. We're pleased to be partnering
with a strong, growing company like BancorpSouth and feel confident
that this combination will be beneficial to our employees,
customers and communities across Alabama, Georgia and Tennessee."
About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS)
is headquartered in Tupelo,
Mississippi, with approximately $27
billion in assets. BancorpSouth operates approximately
325 full-service branch locations as well as additional mortgage,
insurance, and loan production offices in Alabama, Arkansas, Georgia, 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
and Instagram: @MyBXS; or connect with us through LinkedIn.
Forward-Looking Statements
Certain statements made in
this news release are not statements of historical fact and
constitute "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, and
are subject to the safe harbor created thereby under the Private
Securities Litigation Reform Act of 1995. These statements are
often, but not always, made through the use of words or phrases
such as "may," "should," "could," "predict," "potential,"
"believe," "will likely result," "expect," "continue," "will,"
"anticipate," "seek," "aspire," "roadmap," "achieve," "estimate,"
"intend," "plan," "project," "projection," "forecast," "goal,"
"target," "would," and "outlook," or the negative version of those
words or other comparable words of a future or forward-looking
nature. These forward-looking statements include, without
limitation, those relating to the integration processes after the
closing of the mergers with National United Bancshares, Inc., the
parent company of National United, (collectively, "National
United") and FNS Bancshares Inc., the parent company of FNB Bank,
(collectively "FNS"), acceptance by National United's and FNS'
customers of BancorpSouth's products and services, the
opportunities for BancorpSouth to enhance market share in certain
markets, market acceptance of BancorpSouth generally in new markets
and the benefits and synergies expected from the proposed
mergers.
These forward-looking statements are not historical facts, and
are based upon current expectations, estimates and projections
about BancorpSouth's industry, management's beliefs and certain
assumptions made by management, many of which, by their nature, are
inherently uncertain, involve risk and are beyond BancorpSouth's
control. The inclusion of these forward-looking statements should
not be regarded as a representation by BancorpSouth or any other
person that such expectations, estimates and projections will be
achieved. Accordingly, BancorpSouth cautions that any such
forward-looking statements are not guarantees of future performance
and are subject to risks, assumptions and uncertainties that are
difficult to predict and that are beyond BancorpSouth's control.
Although BancorpSouth believes that the expectations reflected in
these forward-looking statements are reasonable as of the date of
this news release, actual results may prove to be materially
different from the results expressed or implied by the
forward-looking statements.
If one or more events related to these or other risks or
uncertainties materialize, or if BancorpSouth's underlying
assumptions prove to be incorrect, actual results may differ
materially from BancorpSouth's forward-looking statements.
Accordingly, undue reliance should not be placed on any such
forward-looking statements. Any forward-looking statement speaks
only as of the date of this news release, and BancorpSouth does not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law. New
risks and uncertainties may emerge from time to time, and it is not
possible for BancorpSouth to predict their occurrence or how they
will affect BancorpSouth.
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SOURCE BancorpSouth Bank