AUGUST 10, 2005 - Posted at 2:17 p.m. CDT
JONESBORO, AR - Officials with northeast Arkansas-based American State Bank today announced a merger agreement with Tupelo, Mississippi-based BancorpSouth, Inc. The agreement is pursuant to approval by American State Bank's shareholders and federal banking regulators.
The merger will expand BancorpSouth's Arkansas presence into four northeast Arkansas counties while adding eleven additional branches. The company currently operates 48 banking locations in 24 Arkansas cities with approximately $1.7 billion in deposits.