American State Bank Merges with BancorpSouth

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.

American State Bank is a privately held corporation headquartered in Jonesboro.  Originally formed in Mississippi County in 1908 as the Bank of Wilson, the company has branches in Jonesboro, Paragould, Pocahontas, Marmaduke, Osceola and Wilson.