- Associated Press - Wednesday, October 19, 2016

TUPELO, Miss. (AP) - BancorpSouth’s proposed merger deals with Central Community Corp. and Ouachita Bancshares Corp. have been extended until Dec. 31 of next year.

The Northeast Mississippi Daily Journal reports (http://bit.ly/2ema03O) the Tupelo-based bank made the announcement Friday. In January 2014, BancorpSouth announced its intent to acquire Central Community Corp. of Temple, Texas and Ouachita Bancshares Corp. of West Monroe, Louisiana. The merger agreements were valued at $325 million.

In August, BancorpSouth had said it was tabling the mergers after the Federal Deposit Insurance Corp. notified BancorpSouth that it was lowering its Community Reinvestment Act rating from “satisfactory” to “needs to improve.”

The next CRA review is expected sometime in the first quarter of next year, giving time for all parties to evaluate the results and determine the fate of the mergers.



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