FNSB - BancorpSouth gets FDIC approval to acquire National United FNS Bancshares

BancorpSouth Bank (BXS) gets regulatory approval from the Federal Deposit Insurance Corp. to complete its proposed mergers with National United Bancshares, the parent of National United, and with FNS Bancshares (FNSB), the parent of FNB Bank.The acquisitions are expected to close on May 1, 2021.Upon completion of the transactions, National United President and CEO Eugene Worthington will become BancorpSouth's area chairman and FNS CEO Steve Rownd will be BancorpSouth division president.As of Dec. 31, 2020, National United and FNS collectively reported total assets of $1.5B, total loans of $930M, and total deposits of $1.4B.

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BancorpSouth gets FDIC approval to acquire National United, FNS Bancshares