MidSouth Bancorp's transition to the New York Stock Exchange was made official Tuesday, marking the debut of the Louisiana-based company's common stock on the global market. MidSouth Bancorp announced Friday it was transferring the listing of its common stock from the NYSE MKT (formerly the American Stock Exchange) to the globally marketed NYSE. The transfer took effect Tuesday, with the bank keeping its existing "MSL" ticker symbol.
"The enhanced trading distribution and prestige of the NYSE should provide long-term value to our shareholders," says MidSouth President and CEO Rusty Cloutier, adding NYSE is "home to many of the world's most well-established companies."
MidSouth's transition was also a welcome move for Scott Cutler, vice president and head of global listings for NYSE Euronext.
"We are delighted for MidSouth, as the company transitions platforms from NYSE MKT to NYSE, and look forward to a continued partnership with the company and its shareholders," says Cutler in a prepared release. "As one of the fastest growing community banks in the South, MidSouth Bank is a great example of a growth oriented company that can leverage NYSE's advanced and innovative market model."
MidSouth - which is headquartered in Lafayette and has 60 locations spread between Louisiana and Texas - reported having $1.9 billion in assets as of June 30.