BancorpSouth Completes Mergers w/Summit Financial, Van Alstyne Financial

BancorpSouth Bank completed its previously announced mergers with Panama City, FL-based Summit Financial Enterprises, the parent company of Summit Bank, and Van Alstyne, TX-based Van Alstyne Financial, the parent company of Texas Star Bank.

“We’re pleased to combine with these two great community banks that share our core values,” said BancorpSouth Chairman and CEO Dan Rollins. “These partnerships allow us to build scale and add talented bankers in strategically important markets for us in Florida and Texas.”

At this time, customers should continue using their current branches, checks, bank cards, online banking and other banking services. Detailed communications will be provided to all Summit Bank and Texas Star Bank customers prior to the system conversions.

“We are absolutely thrilled to join forces with BancorpSouth, which shares our deep commitment to customer service and community involvement,” said BancorpSouth President – Northwest Florida Division Andy Stein, former president and chief executive officer of Summit Bank. “We’re now able to leverage BancorpSouth’s resources, team and exceptional suite of products and services to continue to create extraordinary experiences for our customers.”

“We’re extremely proud of what we’ve accomplished for more than 100 years, and we’re looking forward to the added benefits this new partnership will bring to our customers and community,” said BancorpSouth President – Grayson County, Texas Market Randle Jones, former president of Texas Star Bank. “This merger allows us to provide customers with the best products, added convenience and remarkable service from bankers they already know and trust.”

Headquartered in Tupelo, MS, BancorpSouth Bank has approximately $20 billion in assets and operates more than 300 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.

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Terry Mulreany
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