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BancPlus completes acquisition of State Bank and Trust

BancPlus Corp., parent of BankPlus, announced on Wednesday the completion of its previously announced acquisition of State Capital Corp., parent of State Bank and Trust Company.

The BankPlus acquisition creates the state’s sixth-largest bank based in Mississippi, with 80 branches throughout Alabama, Mississippi and Louisiana. As of Dec. 31, 2019, the combined company has approximately $4.1 billion in assets, deposits of $3.6 billion and gross loans of $3 billion.

Kirk A. Graves, chief executive officer of State Bank, has been named senior executive, vice president and chief operating officer of BankPlus. Michael Brumfield has been named executive vice president and regional executive for Louisiana, and Owen Carty has been named executive vice president and regional executive for south Mississippi and Alabama.

BankPlus anticipates the conversion of all State Bank accounts will occur the weekend of June 12.

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