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BOM/MidSouth Bank Acquisition Information

 

DEAR VALUED CUSTOMER,

 

We are very excited to announce the next big step forward in your banking. In the coming months, MidSouth Bank’s two locations in Alexandria will become part of the BOM family. Planning is also underway for an additional BOM branch. Expanding in the Alexandria market will only further strengthen our commitment to the local community.

BOM is a dedicated community bank, so the close-knit culture of service will remain the same. We were founded in 1903 on the premise of providing our customers the means for not only bettering their own lives, but also contributing to the places where they live. For more than 115 years, we’ve stayed true to our genuine, hometown service while continually evolving to compete with bigger banks.

Soon you’ll have dozens of new products, services and technology options available to add more variety and convenience. Better yet, you’ll be working with the same smiling faces you’ve gotten to know as a MidSouth Bank customer.

You will certainly see plenty of us – whether we’re assisting you in one of our branches or helping out in the community. BOM is very committed to giving back, both financially and through our personal time. In fact, our employees have volunteered over 8,000 hours in the past couple of years.

We’ll begin the new integration process soon, with plenty of communication given on anything that may impact you. In the meantime, please don’t hesitate to call us, visit our website or stop by in person. Thank you for entrusting us with your needs. We look forward to continuing to serve you.

Sincerely,

 

 

Ken Hale

President & CEO

BOM

 

Jim McLemore

President & CEO

MidSouth Bank

MidSouth Bank Customer Welcome Letter– Click here to view the BOM/MidSouth Bank Acquisition Welcome Letter

 

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What you need to know

As stated in the joint letter you received from BOM on October 25 MidSouth Bank’s two locations in Alexandria will become part of the BOM family, and your account(s) will be moved to BOM. This change will be effective after 5 p.m. on December 1, 2017. BOM is a dedicated community bank, so the close-knit culture of service that you’ve come to expect from MidSouth Bank will remain, and when you visit your Alexandria banking center, you will see the same friendly faces you have come to know at MidSouth Bank. To ensure a smooth transition, BOM and MidSouth Bank have come together to provide you with the following tips, reminders, and action items.

Transitioning from MidSouth Bank – What you need to know now:

  • Online Banking, Statements, and Bill Pay:
    • Access to your MidSouth Bank online banking accounts via MidSouthBank.com or via the MidSouth Bank mobile app will be available until 5 p.m. on December 1.
    • Statements: A final MidSouth Bank paper statement will be mailed to you on December 1. If you use estatements, please download or print any statements you may need before 5 p.m. on November 30. After that time, they will no longer be available on MidSouthBank.com, but you will still be able to access previous monthly statements by contacting your BOM Alexandria banking centers.
    • The last day to schedule a bill payment using MidSouth Bank’s MSBOnline is November 27th.  Payments previously scheduled to process on or before December 1st will be paid from your MidSouth Bank account.
  • Checks/Debit Card: Please continue using your MidSouth Bank checks and debit cards through 5 p.m. on December 1. You may begin using your new BOM checks and debit card after  5 p.m. on December 1.
  • Automatic Funds Transfers or ACH/Direct Deposit: If you have an automatic transfer set up between your MidSouth account(s), these will continue as-is after the transition. Direct deposits or drafts from your MidSouth account(s) will also continue as-is after the transition.

Welcome to BOM – What you need to know on or after December 2:

  • Online Banking/Bill Pay Setup: Visit bofm.com and follow the instructions to set up BOM online banking for the first time on or after December 2. To set up a bill payment, click the “Bill Pay” tab and follow the steps. You may also download the Bank of Montgomery app.
  • Checks/Debit Cards from BOM: You may begin using your new BOM checks and debit cards at 5 p.m. on December 1.
  • Statements:  You may receive more than one statement in December. As stated above, MidSouth Bank will send you a closing statement after December 1st, and you will also receive one from BOM. If you need a copy of a prior MidSouth Bank statement, please contact your local BOM banking center.
  • Product Changes: BOM will be in touch with you to communicate any specific changes to your banking products.

Our goal is to make this transition as seamless as possible. If you have any questions or concerns, please do not hesitate to call us at 318-445-3717, or stop by any of our Alexandria locations.   Thank you for allowing us to serve you.

 

MSB Customer Letter– Click to view the MidSouth Bank Customer Letter

 

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June 30, 2017

FOR IMMEDIATE RELEASE

CONTACT: Ken Hale, BOM President and CEO, (318) 238-8000

 

BOM Purchasing Alexandria Branches from Lafayette-based MidSouth Bank

NATCHITOCHES, La. – BOM announced today the signing of a definitive purchase and assumption agreement with MidSouth Bank pursuant to which BOM will acquire all of the assets and liabilities associated with the two branches of MidSouth Bank located in Alexandria, La.

Following the acquisition, BOM is expected to have approximately $350 million in total assets and approximately $300 million in total deposits. Terms of the definitive purchase and assumption agreement were not disclosed.

BOM has one location in Alexandria and 11 others in Bienville, Bossier, Caddo, Grant, Natchitoches, Rapides and Sabine parishes. With the addition of MidSouth locations at 1423 Wimbledon Drive and 3412 Mac Lee St. in Alexandria, BOM will have a total of 14 locations.

“Bank staff at the two new sites will remain in those locations, making for a smooth transition,” said BOM President and CEO Ken Hale. “We’ll also offer two additional ATM sites in Alexandria, and we welcome MidSouth’s staff and customers into the BOM family. Our commitment to our local communities remains as strong as the day we were established more than 100 years ago.”

The transaction is expected to close in the fourth quarter of 2017.

BOM was advised by the law firm of Fenimore, Kay, Harrison & Ford, LLP and Jeff Fair with American Planning Corporation. MidSouth Bank was advised by the law firm of Troutman Sanders.

About BOM

BOM was established in 1903 in Montgomery, Louisiana and has a strong tradition of supporting the northwest Louisiana communities in which it operates, combining hometown values with modern, full service personal and business banking products. BOM offers convenient locations throughout Bienville, Bossier, Caddo, Grant, Natchitoches, Rapides and Sabine parishes. For more information, visit bofm.com

About MidSouth Bank

MidSouth Bank 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

 

BOM Press Release 6/30/2017– Click here to view the Press Release

 

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Aug. 24, 2017

FOR IMMEDIATE RELEASE 

CONTACT: Ken Hale, BOM President and CEO, (318) 238-8000

 

BOM Plans Third Alexandria Location

NATCHITOCHES, La. – BOM, which previously announced its intention to purchase MidSouth Bank’s two locations in Alexandria, has announced plans for a third Alexandria location. The new office is scheduled to open in 2018 on La. 28 West.

In the meantime, BOM says the MidSouth Bank purchase remains on schedule for completion on Dec. 1.

BOM President Ken Hale and MidSouth Bank President James McLemore say their respective staffs continue working closely to ensure a smooth transition for all customers. The locations will remain the same at 1423 Wimbledon Drive and 3412 Mac Lee St., and all MidSouth Bank employees in Alexandria will remain with BOM.

“BOM will continue to serve the Alexandria community. We’re proud to be here and, we’re here to stay,” Hale says. “We’re excited to serve MidSouth Bank customers, and we welcome them to the BOM family.”

About BOM

BOM was established in 1903 in Montgomery, Louisiana, and has a strong tradition of supporting the northwest Louisiana communities in which it operates, combining hometown values with modern, full-service personal and business banking products in a number of convenient locations. For more information, visit bofm.com

 

BOM Press Release 9/24/2017– Click here to view the Press Release