Published:
MidSouth Bank Named to Prestigious Russell 3000 Index
LAFAYETTE, La. , June 30 /PRNewswire-FirstCall/ -- For the first time in its history, MidSouth Bancorp, Inc. (NYSE Amex: MSL) has been named to the prestigious Russell 3000 Index. The bank's common stock was added to the Russell 3000 Index in connection with Russell's final annual index reconstitution on June 26. The Index is constructed to provide a comprehensive, unbiased, and stable barometer of the overall market and is completely reconstituted each year to ensure new and growing equities are reflected. The Russell 3000 Index was launched in 1984.
"It does not surprise me that MidSouth Bank's strength in the marketplace would be recognized by this respected and unbiased source, but this is more than welcome news for our bank," said MidSouth Bank President and CEO Rusty Cloutier. "Across all levels of the bank, we were quite excited to get this news."
The index measures the market capitalization of 3,000 of the largest and most liquid companies in the country, approximately 98 percent of the total value of all equity traded on U.S. exchanges. "That means it's a very broad index," Cloutier noted.
Typically index-oriented investment funds (mutual and exchange-traded) buy shares of companies in the index to keep their portfolios reflective of the Russell 3000. "Because of that, the listing could expose MidSouth Bank to a larger investment audience and provide additional support for our share price," Cloutier said.
About MidSouth Bancorp, Inc.
MidSouth Bancorp, Inc. is a bank holding company headquartered inLafayette, La., with total assets of $923.1 million as of March 31, 2009. Through its wholly-owned bank subsidiary, MidSouth Bank, N.A., the Company offers complete banking services to commercial and retail customers in southLouisiana and southeastTexas. It has 34 locations inLouisiana andTexas and more than 170 ATMs. The group is community oriented and focuses primarily on offering commercial and consumer loan and deposit services to individuals, and small and middle market businesses.
Established in 1985, MidSouth Bank has 27 offices extending along the Interstate 10 corridor in southLouisiana located inLafayette (9),Baton Rouge (3),New Iberia (3),Lake Charles (2),Sulphur,Jeanerette,Jennings,Thibodaux,Larose,Opelousas,Breaux Bridge,Cecilia,Morgan City andHouma. Additionally, the Company has seven full-service offices in the southeast region ofTexas, includingHouston,Beaumont (3),Vidor,College Station andConroe. It also has a mortgage loan center inConroe.
SOURCE MidSouth Bancorp, Inc.
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,FIN,ECO,LA-MidSouthBancorp
Search News
Daily News
