Tyler Acquisition Helps Banking Firm Increase Earnings

LAFAYETTE, LA. (AP/Staff) – MidSouth Bancorp Inc. says it posted a hefty increase in first-quarter earnings as two acquisitions kicked in, including one in Tyler. For the three months ending March 31, MidSouth earned $2.5 million, or 24 cents per share, compared with year-ago earnings in the first quarter of $442,000, or 5 cents per share. MidSouth, based in Lafayette, Louisiana, says the increase was due to results from its acquisitions of First Louisiana National Bank and the Tyler branch office of Beacon Federal Bancorp Inc.

During the first quarter, MidSouth dropped its provision for possible loan losses to $675,000 from $1.6 million a year ago and $775,000 from the fourth quarter of 2011. MidSouth has 40 banking offices in Louisiana and Texas.