BancorpSouth finishes merger with The Signature Bank

The Signature Bank board approved the merger in late October, and it received regulatory approval Jan. 31.

In a transaction valued at about $170 million, The Signature Bank’s 400 shareholders will get 50 percent cash and 50 percent BancorpSouth common stock. Bancorp will create a Missouri region, led by current The Signature Bank CEO David Kunze and President Rob Fulp.

The Signature Bank had about $852 million in assets and $619 million in deposits as of Dec. 31. It has six full-service Springfield locations and one loan production office in Clayton.

Including City Bancorp, Tupelo, Miss.-based BancorpSouth is a $12.9 billion holding company with 289 locations in eight states.[[In-content Ad]]