BXS - BancorpSouth Bank to acquire National United Bancshares

BancorpSouth Bank (BXS) inks merger agreement with National United Bancshares, the parent company of National United, pursuant to which National United will be merged with and into BancorpSouth.Pursuant to the agreement, BXS will issue 3.11M shares of common stock, plus $33.25m in cash, for all outstanding shares of National United Bancshares capital stock, subject to certain conditions and potential adjustments.National United operates six full-service banking offices in the Killeen-Temple, Texas; Waco, Texas; and Austin-Round Rock-Georgetown, Texas metropolitan statistical areas.National United reported total assets of $748.6M, total loans of $450.6M, and total deposits of $672.5M, as of Sept. 30, 2020.The merger is anticipated to close during the H121.BXS shares are down 16.6% YTD.

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BancorpSouth Bank to acquire National United Bancshares