MidSouth Bancorp, Inc. Reports Third Quarter 2013 Results

          MidSouth Bancorp, Inc. Reports Third Quarter 2013 Results

- Diluted EPS $0.27 per common share versus $0.21 per common share for 3Q 2012

- Annualized net loan growth of 9.5% on linked quarter basis and 12.5% YTD

- Annualized net charge-offs for the quarter of 0.11%

- Core FTE NIM on linked quarter basis of 4.30% versus 4.33%

- SBLF dividend set at 1.00% starting 4Q 2013 through February 2016

PR Newswire

LAFAYETTE, La., Oct. 29, 2013

LAFAYETTE, La., Oct. 29, 2013 /PRNewswire/ -- MidSouth Bancorp, Inc.
("MidSouth") (NYSE:MSL) today reported record quarterly net earnings available
to common shareholders of $3.1 million for the third quarter of 2013, compared
to net earnings available to common shareholders of $2.2 million reported for
the third quarter of 2012 and $3.3 million in net earnings available to common
shareholders for the second quarter of 2013. Diluted earnings for the third
quarter of 2013 were $0.27 per common share, compared to $0.21 per common
share reported for the third quarter of 2012 and $0.29 per common share
reported for the second quarter of 2013.

(Logo: http://photos.prnewswire.com/prnh/20100125/MIDSOUTHLOGO)

Dividends paid on the Series B Preferred Stock issued to the Treasury as a
result of our participation in the Small Business Lending Fund ("SBLF")
totaled $368,000 for the third quarter of 2013 based on a dividend rate of
4.60%. The dividend rate is set at 1.00% for the fourth quarter of 2013 due
to attaining the target 10% growth rate in qualified small business loans
during the second quarter of 2013. The Series C Preferred Stock issued with
the December 28, 2012 acquisition of PSB Financial Corporation ("PSB") paid
dividends totaling $100,000 for the three months ended September 30, 2013.

Balance Sheet

Total consolidated assets at September 30, 2013 were $1.9 billion, compared to
$1.4 billion at September 30, 2012 and $1.9 billion at June 30, 2013.
Deposits totaled $1.5 billion at September 30, 2013, compared to $1.2 billion
at September 30, 2012 and $1.5 billion at June 30, 2013. Total deposits
declined $29.7 million during the quarter due to fluctuations in demand
deposit accounts, primarily public fund accounts and, to a lesser extent,
acquired higher cost certificate of deposit accounts. Net loans totaled $1.1
billion at September 30, 2013, compared to $801.5 million at September 30,
2012 and $1.1 billion at June 30, 2013. Net loans grew $26.3 million in the
third quarter and $96.8 million for the nine months ended September 30, 2013
at annualized growth rates of 9.5% and 12.5%, respectively.

MidSouth's Tier 1 leverage capital ratio was 9.17% at September 30, 2013
compared to 9.14% at June 30, 2013. Tier 1 risk-based capital and total
risk-based capital ratios were 13.13% and 13.84% at September 30, 2013,
compared to 13.24% and 13.95% at June 30, 2013, respectively. The Tier 1
common equity to total risk-weighted assets at September 30, 2013 was 7.56%.
Tangible common equity totaled $96.9 million at September 30, 2013, compared
to $94.5 million at June 30, 2013. Tangible book value per share at September
30, 2013 was $8.61 versus $8.39 at June 30, 2013.

Rusty Cloutier, President & CEO, commenting on third quarter earnings stated,
"We invested significantly in marketing our brand throughout our footprint
during the quarter to spur loan growth and continue the momentum of our
successful SBLF campaign in the second quarter. As a result, we grew loans
$26 million this quarter. However, our operating efficiencies are not meeting
our expectations as we position the Bank to reap the benefits of recent
investments in growth through acquisitions and branch expansions. Over the
next year, Jerry Reaux, Vice Chairman and COO, will lead our executive
management team to analyze revenue and expenses, including our branch network
structure, to accelerate improvements in profitability."

Asset Quality

Nonperforming assets declined 12.6% in year-over-year comparison and 1.7% in
sequential quarter comparison as asset quality continued to improve. Total
nonperforming assets were reduced from $18.5 million at December 31, 2012 to
$13.8 million at June 30, 2013 and to $13.6 million at September 30, 2013,
primarily due to a $4.0 million reduction in nonperforming loans, including
loans past due 90 days and over, during the first nine months of 2013. 

Allowance coverage for nonperforming loans increased to 126.29% at September
30, 2013 compared to 123.84% at June 30, 2013. The ALL/total loans ratio was
0.76% at September 30, 2013, unchanged from June 30, 2013. Including
valuation accounting adjustments on acquired loans, the total valuation
accounting adjustment plus ALL was 1.61% of loans at September 30, 2013. The
ratio of annualized net charge-offs to total loans was 0.11% for the three
months ended September 30, 2013 compared to 0.06% for the three months ended
June 30, 2013.

Total nonperforming assets to total loans plus ORE and other assets
repossessed decreased to 1.18% at September 30, 2013 from 1.23% at June 30,
2013. Loans classified as troubled debt restructurings ("TDRs") totaled
$533,000 at September 30, 2013 compared to $535,000 at June 30, 2013.
Classified assets, including ORE, decreased to $34.5 million compared to $36.1
million at June 30, 2013.

Third Quarter 2013 vs. Third Quarter 2012 Earnings Comparison

Third quarter 2013 net earnings available to common shareholders totaled $3.1
million compared to $2.2 million for the third quarter of 2012. Revenues from
consolidated operations increased $6.4 million in quarterly comparison and
included $1.2 million in purchase accounting adjustments on the 2012 and 2011
acquisitions. Noninterest income increased $1.2 million in quarterly
comparison, from $3.8 million for the three months ended September 30, 2012 to
$5.0 million for the three months ended September 30, 2013. Increases in
noninterest income consisted primarily of $454,000 in service charges on
deposit accounts and $596,000 in ATM/debit card income due to the acquired
branches in the Timber Region.

Noninterest expenses increased $4.9 million for the third quarter 2013
compared to third quarter 2012 and included approximately $1.7 million in
operating expenses for the Timber Region and approximately $368,000 in
operating costs for four new branches opened in late 2012 and early 2013. The
remaining $2.8 million of increased operating costs consisted primarily of
$1.2 million in salaries and benefits costs, $464,000 in occupancy expense,
$293,000 in ATM/debit card expense, $117,000 in marketing costs and $173,000
in data processing expenses. The increased costs were partially offset by a
$230,000 decrease in legal and professional fees. The provision for loan
losses increased $150,000 primarily as a result of the loan growth experienced
during the third quarter of 2013. Income tax expense increased $526,000 in
quarterly comparison.

Fully taxable-equivalent ("FTE") net interest income totaled $19.5 million and
$14.2 million for the quarters ended September 30, 2013 and 2012,
respectively.The FTE net interest income increased $5.3 million in prior
year quarterly comparison primarily due to a $413.4 million increase in the
volume of average earning assets primarily as a result of the PSB
acquisition. The average volume of loans increased $350.2 million in
quarterly comparison and the average yield on loans decreased 22 basis points,
from 6.46% to 6.24%. Purchase accounting adjustments on acquired loans added
39 basis points to the average yield on loans for the third quarter of 2013
and 23 basis points to the average yield on loans for the third quarter of
2012. Net of the impact of the purchase accounting adjustments, average loan
yields declined 38 basis points in prior year quarterly comparison, from 6.23%
to 5.85%. Loan yields have declined primarily as the result of a sustained
low market interest rate environment.

Investment securities totaled $517.8 million, or 27.8% of total assets at
September 30, 2013, versus $458.8 million, or 32.1% of total assets at
September 30, 2012. The investment portfolio had an effective duration of 4.4
years and an unrealized gain of $2.1 million at September 30, 2013. The
average volume of investment securities increased $57.1 million in quarterly
comparison primarily due to $152.7 million in securities acquired with the PSB
acquisition at year end December 2012, of which $28.8 million were sold early
in the first quarter of 2013. The average tax equivalent yield on investment
securities decreased 4 basis points, from 2.63% to 2.59%. The average yield
on all earning assets increased 7 basis points in prior year quarterly
comparison, from 4.92% for the third quarter of 2012 to 4.99% for the third
quarter of 2013. Net of the impact of purchase accounting adjustments, the
average yield on total earning assets declined 5 basis points, from 4.79% to
4.74% for the three month periods ended September 30, 2012 and 2013,
respectively.

The impact to interest expense of a $335.8 million increase in the average
volume of interest bearing liabilities was partially offset by an 11 basis
point decrease in the average rate paid on interest bearing liabilities, from
0.62% at September 30, 2012 to 0.51% at September 30, 2013. Net of purchase
accounting adjustments on acquired certificates of deposit and FHLB
borrowings, the average rate paid on interest bearing liabilities was 0.71%
for the third quarter of 2012 and declined to 0.58% for the third quarter of
2013.

As a result of these changes in volume and yield on earning assets and
interest bearing liabilities, the FTE net interest margin increased 14 basis
points, from 4.46% for the third quarter of 2012 to 4.60% for the third
quarter of 2013. Net of purchase accounting adjustments on loans, deposits
and FHLB borrowings, the FTE margin increased 4 basis points, from 4.26% for
the third quarter of 2012 to 4.30% for the third quarter of 2013.

Third Quarter 2013 vs. Second Quarter 2013 Earnings Comparison

In sequential-quarter comparison, net earnings available to common
shareholders decreased $199,000 as a $671,000 decrease in net interest income
and a $214,000 increase in non-interest expenses were partially offset by an
$800,000 decrease in provision for loan losses. Net interest income decreased
in sequential-quarter comparison primarily due to $842,000 in non-recurring
interest income recorded in the second quarter of 2013. This amount was
comprised of additional discount accretion totaling $630,000 was earned from
the PSB purchased credit impaired loan portfolio and $212,000 in interest
income was recaptured on a nonperforming loan in June of 2013.

Noninterest expenses increased $214,000 and consisted primarily of increases
of $271,000 in salaries and benefits costs, $196,000 in marketing expenses and
$149,000 in occupancy expenses, which were partially offset by decreases of
$216,000 in expenses on ORE and $230,000 in legal and professional fees. 

FTE net interest income decreased $593,000 in sequential quarter comparison
primarily due to a reduction in purchase accounting adjustments resulting from
the payoff of certain PSB purchased credit impaired loans. The reduction in
purchase accounting adjustments resulted in a decrease in the average yield on
loans, from 6.76% for the second quarter of 2013 to 6.24% for the third
quarter of 2013. An average decrease of $19.3 million in investment
securities and an average increase of $23.3 million in FHLB advances funded a
$42.8 million increase in the average volume of loans. The average yield on
total earning assets decreased 27 basis points for the same period, from 5.26%
to 4.99%, respectively. An average decrease of $16.2 million in deposits was
offset by an average increase of $16.6 million in overnight repurchase
agreements. As a result of these changes in volume and yield on earning
assets and interest bearing liabilities, the FTE net interest margin decreased
27 basis points, from 4.87% to 4.60%. Net of purchase accounting adjustments,
the FTE net interest margin decreased 3 basis points, from 4.33% for the
quarter ended June 30, 2013 to 4.30% for the quarter ended September 30, 2013.

Year-Over-Year Earnings Comparison

In year-over-year comparison, net earnings available to common shareholders
increased $2.7 million primarily as a result of a $15.7 million improvement in
net interest income and a $3.2 million increase in noninterest income which
offset a $14.1 million increase in noninterest expense, a $700,000 increase in
provision for loan loss and a $1.5 million increase in income tax expense.
The $15.7 million increase in net interest income included approximately $9.7
million earned from the Timber Region. An increase in purchase accounting
adjustments of $3.2 million in year-to-date comparison also contributed to the
increase in net interest income.

Increases in noninterest income consisted primarily of $1.2 million in service
charges on deposit accounts and $1.3 million in ATM and debit card income.
Noninterest expenses increased $14.1 million in year-to-date comparison and
included approximately $5.0 million in operating expenses for the Timber
Region and approximately $1.2 million in operating expenses for the four new
branches opened in late 2012 and early 2013. Increases in noninterest
expense, excluding operating expenses on the Timber Region and the new
branches, included primarily $3.7 million in salary and benefits costs, $1.4
million in occupancy expense, $486,000 in ATM/debit card expense and $370,000
in corporate development expense. The increase was offset by a $529,000
decrease in expenses on ORE and repossessed assets, excluding expenses on ORE
and repossessed assets incurred by the Timber Region.

In year-to-date comparison, FTE net interest income increased $16.1 million
primarily due to a $399.1 million increase in the average volume of earning
assets that resulted in a $16.6 million increase in interest income. The
average yield on earning assets increased in year-to-date comparison, from
4.95% at September 30, 2012 to 5.11% at September 30, 2013. Net of a 41 basis
point effect of discount accretion on acquired loans, the average yield on
earning assets was 4.70% at September 30, 2013.

Interest expense increased in year-over-year comparison primarily due to a
$307.5 million increase in the average volume of interest-bearing liabilities,
from $951.8 million at September 30, 2012 to $1.3 billion at September 30,
2013. The average rate paid on interest-bearing liabilities decreased 10
basis points, from 0.63% at September 30, 2012 to 0.53% at September 30,
2013. Net of a 9 basis point effect of premium amortization on acquired
certificates of deposit and FHLB advances, the average rate paid on interest
bearing liabilities was 0.62% at September 30, 2013. The FTE net interest
margin increased 23 basis points, from 4.48% for the nine months ended
September 30, 2012 to 4.71% for the nine months ended September 30, 2013. Net
of purchase accounting adjustments, the FTE net interest margin increased 1
basis point, from 4.23% to 4.24% for the nine months ended September 30, 2012
and 2013, respectively.

About MidSouth Bancorp, Inc.

MidSouth Bancorp, Inc. is a financial holding company headquartered in
Lafayette, Louisiana, with assets of $1.9 billion as of September 30, 2013.
MidSouth Bancorp, Inc. trades on the NYSE under the symbol "MSL." Through its
wholly owned subsidiary, MidSouth Bank, N.A., MidSouth offers a full range of
banking services to commercial and retail customers in Louisiana and Texas.
MidSouth Bank currently has 61 locations in Louisiana and Texas, including a
Loan Production Office in Austin, Texas, and is connected to a worldwide ATM
network that provides customers with access to more than 50,000 surcharge-free
ATMs. Additional corporate information is available at www.midsouthbank.com.

Forward-Looking Statements

Certain statements contained herein are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 and subject to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, which involve risks and
uncertainties. These statements include, among others, the expected impacts
of the recently completed PSB acquisition, future expansion plans and future
operating results. Actual results may differ materially from the results
anticipated in these forward-looking statements. Factors that might cause
such a difference include, among other matters, the ability of MidSouth to
integrate the PSB operations and capitalize on new market opportunities
resulting from the acquisition; the effect of the PSB acquisition on relations
with customers and employees; changes in interest rates and market prices that
could affect the net interest margin, asset valuation, and expense levels;
changes in local economic and business conditions, including, without
limitation, changes related to the oil and gas industries, that could
adversely affect customers and their ability to repay borrowings under agreed
upon terms, adversely affect the value of the underlying collateral related to
their borrowings, and reduce demand for loans; the timing and ability to reach
any agreement to restructure nonaccrual loans; increased competition for
deposits and loans which could affect compositions, rates and terms; the
timing and impact of future acquisitions, the success or failure of
integrating operations, and the ability to capitalize on growth opportunities
upon entering new markets; loss of critical personnel and the challenge of
hiring qualified personnel at reasonable compensation levels; legislative and
regulatory changes, including changes in banking, securities and tax laws and
regulations and their application by our regulators, changes in the scope and
cost of FDIC insurance and other coverage; and other factors discussed under
the heading "Risk Factors" in MidSouth's Annual Report on Form 10-K for the
year ended December 31, 2012 filed with the SEC on March 18, 2013 and in its
other filings with the SEC. MidSouth does not undertake any obligation to
publicly update or revise any of these forward-looking statements, whether to
reflect new information, future events or otherwise, except as required by
law.





MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands except per share data)
                                                           For the
                         For the Quarter Ended             Quarter
                                                           Ended
                         September 30,             %       June 30,     %
EARNINGS DATA            2013         2012         Change  2013         Change
 Total interest      $         $         34.8%   $         -3.1%
income                   20,704      15,355              21,356
 Total interest      1,633        1,468        11.2%   1,614        1.2%
expense
 Net interest   19,071       13,887       37.3%   19,742       -3.4%
income
 FTE net interest    19,486       14,187       37.4%   20,079       -3.0%
income
 Provision for loan  450          300          50.0%   1,250        -64.0%
losses
 Non-interest        4,988        3,754        32.9%   5,004        -0.3%
income
 Non-interest        18,481       13,630       35.6%   18,267       1.2%
expense
Earnings       5,128        3,711        38.2%   5,229        -1.9%
before income taxes
 Income tax expense  1,588        1,062        49.5%   1,566        1.4%
Net earnings   3,540        2,649        33.6%   3,663        -3.4%
 Dividends on        468          400          17.0%   392          19.4%
preferred stock
 Net earnings   $        $                $    
available to common      3,072       2,249       36.6%   3,271       -6.1%
shareholders
PER COMMON SHARE DATA
 Basic earnings per  $       $       28.6%   $       -6.9%
share                    0.27        0.21                0.29
 Diluted earnings    0.27         0.21         28.6%   0.29         -6.9%
per share
 Quarterly           0.08         0.07         14.3%   0.08         0.0%
dividends per share
 Book value at end   13.12        13.01        0.8%    12.92        1.5%
of period
 Tangible book       8.61         10.01        -14.0%  8.39         2.6%
value at period end
 Market price at     15.50        16.19        -4.3%   15.53        -0.2%
end of period
 Shares outstanding  11,253,216   10,479,077   7.4%    11,253,216   0.0%
at period end
 Weighted average
shares outstanding
 Basic            11,253,216   10,478,456   7.3%    11,238,945   0.0%
 Diluted          11,868,851   10,517,999   12.8%   11,838,862   0.3%
AVERAGE BALANCE SHEET
DATA
 Total assets        $           $           33.2%   $           0.7%
                         1,863,090    1,398,355            1,850,483
 Loans and leases    1,123,086    772,838      45.3%   1,080,295    4.0%
 Total deposits      1,521,146    1,149,892    32.3%   1,538,320    -1.1%
 Total common        146,182      135,055      8.2%    150,287      -2.7%
equity
 Total tangible      95,363       103,577      -7.9%   98,996       -3.7%
common equity
 Total equity       188,179      167,055      12.6%   192,284      -2.1%
SELECTED RATIOS          9/30/2013    9/30/2012            6/30/2013
 Annualized return   0.65%        0.64%        1.6%    0.71%        -8.5%
on average assets
 Annualized return
on average common        8.34%        6.62%        26.0%   8.73%        -4.5%
equity
 Average loans to    73.83%       67.21%       9.9%    70.23%       5.1%
average deposits
 Taxable-equivalent  4.60%        4.46%        3.1%    4.87%        -5.5%
net interest margin
 Tier 1 leverage     9.17%        10.53%       -12.9%  9.14%        0.3%
capital ratio
CREDIT QUALITY
 Allowance for loan
losses (ALLL) as a %of  0.76%        0.91%        -16.5%  0.76%        0.0%
total loans
 Nonperforming
assets to tangible       9.18%        10.74%       -14.5%  9.51%        -3.4%
equity + ALLL
 Nonperforming
assets to total loans,
other real estate

owned and other          1.18%        1.90%        -38.1%  1.23%        -4.0%
repossessed assets
 Annualized QTD net
charge-offs to total     0.11%        0.07%        58.9%   0.06%        74.3%
loans







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
BALANCE SHEET        September    September    %        June 30,    March 31,
                     30,          30,
                     2013         2012         Change   2013        2013
Assets
Cash and cash        $          $          -27.2%   $         $ 
equivalents          43,434       59,655                59,578      118,009
Securities           358,675      341,170      5.1%     367,299     387,786
available-for-sale
Securities           159,141      117,628      35.3%    163,610     167,617
held-to-maturity
Total
investment           517,816      458,798      12.9%    530,909     555,403
securities
Time deposits held   -            709          -100.0%  -           0
in banks
Other investments    10,951       5,820        88.2%    10,951      10,017
Total loans          1,145,023    808,833      41.6%    1,118,572   1,037,859
Allowance for loan   (8,667)      (7,374)      17.5%    (8,531)     (7,457)
losses
Loans, net      1,136,356    801,459      41.8%    1,110,041   1,030,402
Premises and         70,147       48,086       45.9%    67,881      66,797
equipment
Goodwill and other   50,703       31,391       61.5%    50,980      51,447
intangibles
Other assets         33,400       23,018       45.1%    33,436      34,981
Total assets    $1,862,807   $1,428,936   30.4%    $1,863,776  $1,867,056
Liabilities and
Shareholders'
Equity
Non-interest         $  380,048  $  306,463  24.0%    $          $ 
bearing deposits                                        395,341     390,774
Interest-bearing     1,126,078    872,549      29.1%    1,140,453   1,169,352
deposits
Total deposits    1,506,126    1,179,012    27.7%    1,535,794   1,560,126
Securities sold
under agreements
torepurchaseand
other short          77,809       55,233       40.9%    51,710      48,557
termborrowings
Short-term FHLB      25,000       -            100.0%   25,000      -
advances
Other borrowings     28,059       0            100.0%   28,416      28,772
Junior subordinated  29,384       15,465       90.0%    29,384      29,384
debentures
Other liabilities    6,800        10,891       -37.6%   6,039       9,384
Total           1,673,178    1,260,601    32.7%    1,676,343   1,676,223
liabilities
Total shareholders'  189,629      168,335      12.6%    187,433     190,833
equity
 Total
liabilities and      $1,862,807   $1,428,936   30.4%    $1,863,776  $1,867,056
shareholders'
equity







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands except per share data)
                       Three Months Ended           Nine Months Ended
EARNINGS STATEMENT     September 30,        %       September 30,       %
                       2013       2012      Change  2013      2012      Change
Interest income        $20,704    $15,355   34.8%   $62,189   $45,986   35.2%
Interest expense       1,633      1,468     11.2%   4,964     4,486     10.7%
Net interest income    19,071     13,887    37.3%   57,225    41,500    37.9%
Provision for loan     450        300       50.0%   2,250     1,550     45.2%
losses
Service charges        2,352      1,898     23.9%   6,794     5,590     21.5%
ondeposit accounts
Other charges and      2,636      1,856     42.0%   7,629     5,657     34.9%
fees
Total non-interest     4,988      3,754     32.9%   14,423    11,247    28.2%
income
Salaries and           8,640      6,273     37.7%   25,401    18,511    37.2%
employeebenefits
Occupancy expense      3,874      2,952     31.2%   11,196    8,283     35.2%
FDIC premiums          265        242       9.5%    854       695       22.9%
Other non-interest     5,702      4,163     37.0%   16,728    12,599    32.8%
expense
Total non-interest     18,481     13,630    35.6%   54,179    40,088    35.2%
expense
Earnings before        5,128      3,711     38.2%   15,219    11,109    37.0%
income taxes
Income tax expense     1,588      1,062     49.5%   4,588     3,096     48.2%
Net earnings           3,540      2,649     33.6%   10,631    8,013     32.7%
Dividends on           468        400       17.0%   1,152     1,180     -2.4%
preferred stock
Net earnings
available to common    $ 3,072   $ 2,249  36.6%   $ 9,479  $ 6,833  38.7%
shareholders
Earnings per common    $  0.27  $        28.6%   $        $        27.7%
share, diluted                    0.21             0.83     0.65







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands except per share data)
EARNINGS STATEMENT       Third      Second     First      Fourth     Third
QUARTERLY TRENDS         Quarter    Quarter    Quarter    Quarter    Quarter
                         2013       2013       2013       2012       2012
Interest income          $20,704    $21,356    $20,129    $15,036    $15,355
Interest expense         1,633      1,614      1,717      1,354      1,468
Net interest income      19,071     19,742     18,412     13,682     13,887
Provision for loan       450        1,250      550        500        300
losses
Net interest income
after provision for      18,621     18,492     17,862     13,182     13,587
loan loss
Total non-interest       4,988      5,004      4,431      3,697      3,754
income
Total non-interest       18,481     18,267     17,431     14,567     13,630
expense
Earnings before income   5,128      5,229      4,862      2,312      3,711
taxes
Income tax expense       1,588      1,566      1,434      683        1,062
Net earnings             3,540      3,663      3,428      1,629      2,649
Dividends on preferred   468        392        292        367        400
stock
Net earnings available   $ 3,072   $ 3,271   $ 3,136   $ 1,262   $ 2,249
to common shareholders
Earnings per common      $  0.27  $  0.29  $  0.27  $  0.12  $  0.21
share, diluted







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
COMPOSITION OF       September   September   %       June 30,     March 31,
LOANS                30,         30,
                     2013        2012        Change  2013         2013
Commercial,          $        $   
financial, and       423,073     266,046     59.0%   $  391,241  $  315,397
agricultural
Lease financing      5,340       5,041       5.9%    5,656        4,962
receivable
Real estate -        76,213      57,727      32.0%   82,851       82,508
construction
Real estate -        401,080     293,579     36.6%   404,543      405,705
commercial
Real estate -        142,431     110,735     28.6%   141,689      138,284
residential
Installment loans    94,722      73,334      29.2%   90,571       88,898
to individuals
Other                2,164       2,371       -8.7%   2,021        2,105
Total loans          $          $        41.6%   $1,118,572   $1,037,859
                     1,145,023  808,833
COMPOSITION OF       September   September   %       June 30,     March 31,
DEPOSITS             30,         30,
                     2013        2012        Change  2013         2013
Noninterest bearing  $        $        24.0%   $  395,341  $  390,774
                     380,048     306,463
NOW & Other          412,873     239,937     72.1%   431,596      432,540
Money                463,621     377,405     22.8%   453,729      465,954
Market/Savings
Time Deposits of     116,118     111,356     4.3%    119,299      125,020
less than $100,000
Time Deposits of     133,466     143,851     -7.2%   135,829      145,838
$100,000 or more
Total deposits       $          $          27.7%   $1,535,794   $1,560,126
                     1,506,126  1,179,012







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
                            September  September  %       June 30,   March 31,
ASSET QUALITY DATA          30,        30,
                            2013       2012       Change  2013       2013
Nonaccrual loans            $ 6,119   $ 8,307   -26.3%  $ 6,772   $ 7,526
Loans past due 90days and  744        532        39.8%   117        163
over
Total nonperforming loans   6,863      8,839      -22.4%  6,889      7,689
Other real estate owned     6,672      6,608      1.0%    6,900      7,552
Other repossessed assets    18         51         -64.7%  0          16
Total nonperforming assets  $13,553    $15,498    -12.6%  $13,789    $15,257
Troubled debt               $   533  $   242  120.2%  $   535  $ 5,032
restructurings
Nonperforming assets        0.73%      1.08%      -32.4%  0.74%      0.82%
tototal assets
Nonperforming assets to
total loans +OREO +        1.18%      1.90%      -37.9%  1.23%      1.46%
otherrepossessed assets
ALLL to nonperforming       126.29%    83.43%     51.4%   123.84%    96.98%
loans
ALLL to total loans         0.76%      0.91%      -16.5%  0.76%      0.72%
Quarter-to-date             $   375  $   234  60.3%   $   267  $   523
charge-offs
Quarter-to-date recoveries  61         86         -29.1%  91         60
Quarter-to-date net         $   314  $   148  112.2%  $   176  $   463
charge-offs
Annualized QTD net          0.11%      0.07%      58.9%   0.06%      0.18%
charge-offs to total loans







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
YIELD ANALYSIS    Three Months Ended              Three Months Ended
                  September 30, 2013              September 30, 2012
                              Tax                             Tax
                  Average     Equivalent  Yield/  Average     Equivalent  Yield/
                  Balance     Interest    Rate    Balance     Interest    Rate
Taxable           $          $  2,171   2.07%   $          $  2,048   2.13%
securities        418,964                         384,958
Tax-exempt        101,226     1,200       4.74%   78,115      997         5.11%
securities
 Total
investment        520,190     3,371       2.59%   463,073     3,045       2.63%
securities
Federal funds     2,180       1           0.18%   3,570       2           0.22%
sold
Time and
interest bearing
deposits in
                  22,519      15          0.26%   20,253      13          0.25%
other banks
Other             10,948      80          2.92%   5,816       55          3.78%
investments
Loans (1)         1,123,086   17,652      6.24%   772,838     12,540      6.46%
 Total interest  1,678,923   21,119      4.99%   1,265,550   15,655      4.92%
earning assets
Non-interest      184,167                         132,805
earning assets
 Total assets    $1,863,090                      $1,398,355
Interest-bearing
liabilities:
Deposits (2)      $1,133,126  $   976  0.34%   $          $  1,030   0.47%
                                                  873,128
Repurchase        64,274      204         1.26%   55,953      197         1.40%
agreements
Federal funds     354         -           0.00%   64          -           -
purchased
Other borrowings  51,853      104         0.78%   -           -           -
(3)
Notes Payable     1,448       14          3.78%   -           -           -
Junior
subordinated      29,384      335         4.46%   15,465      241         6.10%
debentures
 Total
interest-bearing  1,280,439   1,633       0.51%   944,610     1,468       0.62%
liabilities
Non-interest
bearing           394,472                         286,690
liabilities
Shareholders'     188,179                         167,055
equity
 Total
liabilities and
shareholders'
                  $1,863,090                      $1,398,355
equity
Net interest income (TE) and  $ 19,486    4.48%               $ 14,187    4.30%
spread
Net interest margin                       4.60%                           4.46%

          Includes $945,000 and $388,000 of interest income from accretable
(1)       yield on purchased loans from acquisitions for the three months
          ended September 30, 2013 and 2012, respectively.
          Includes $138,000 and $213,000 of reduction in interest expense from
(2)       premium amortization on time deposits acquired from acquisitions for
          the three months ended September 30, 2013 and 2012, respectively.
          Includes $92,000 of reduction in interest expense from premium
(3)       amortization on FHLB borrowings acquired from PSB for the three
          months ended September 30, 2013.







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
YIELD ANALYSIS    Nine Months Ended               Nine Months Ended
                  September 30, 2013              September 30, 2012
                              Tax                             Tax
                  Average     Equivalent  Yield/  Average     Equivalent  Yield/
                  Balance     Interest    Rate    Balance     Interest    Rate
Taxable           $          $ 6,481    2.03%   $          $ 6,265    2.20%
securities        426,544                         380,154
Tax-exempt        104,297     3,763       4.81%   81,774      3,152       5.14%
securities
 Total
investment        530,841     10,244      2.57%   461,928     9,417       2.72%
securities
Federal funds     3,910       6           0.20%   3,657       6           0.22%
sold
Time and
interest bearing
deposits in
                  34,435      70          0.27%   36,720      73          0.26%
other banks
Other             10,113      230         3.03%   5,737       142         3.30%
investments
Loans (1)         1,082,679   52,966      6.54%   754,838     37,298      6.58%
 Total interest  1,661,978   63,516      5.11%   1,262,880   46,936      4.95%
earning assets
Non-interest      191,964                         132,169
earning assets
 Total assets    $1,853,942                      $1,395,049
Interest-bearing
liabilities:
Deposits (2)      $1,138,506  $ 3,044    0.36%   $          $ 3,189    0.48%
                                                  886,033
Repurchase        52,597      565         1.44%   50,313      564         1.49%
agreements
Federal funds     607         3           0.65%   22          -           -
purchased
Other borrowings  36,587      302         1.09%   1           -           -
(3)
Notes payable     1,660       43          3.42%   -           -
Junior
subordinated      29,384      1,007       4.52%   15,465      733         6.23%
debentures
 Total
interest-bearing  1,259,341   4,964       0.53%   951,834     4,486       0.63%
liabilities
Non-interest
bearing           404,267                         278,042
liabilities
Shareholders'     190,334                         165,173
equity
 Total
liabilities and
shareholders'
equity            $1,853,942                      $1,395,049
Net interest income (TE) and  $58,552     4.58%               $42,450     4.32%
spread
Net interest margin                       4.71%                           4.48%

           Includes $4.6 million and $1.4 million of interest income from
(1)        accretable yield on purchased loans from acquisitions for the nine
           months ended September 30, 2013 and 2012, respectively.
           Includes $546,000 and $857,000 of reduction in interest expense
(2)        from premium amortization on time deposits acquired from
           acquisitions for the nine months ended September 30, 2013 and 2012,
           respectively
           Includes $276,000 of reduction in interest expense from premium
(3)        amortization on FHLB borrowings acquired from PSB for the nine
           months ended September 30, 2013.







MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures (unaudited)
(in thousands except per share data)
                                    For the Quarter Ended
                                    September 30,  September 30,  June 30,
Per Common Share Data               2013           2012           2013
Book value per common share         $   13.12    $   13.01    $   12.92
Effect of intangible assets per     4.51           3.00           4.53
share
Tangible book value per common      $    8.61   $   10.01    $    8.39
share
Diluted earnings per share          $    0.27   $    0.21   $    0.29
Effect of merger-related costs,     -              0.02           -
after-tax
Operating earnings per share        $    0.27   $    0.23   $    0.29
Average Balance Sheet Data
Total equity                        $ 188,179      $ 167,055      $ 192,284
Less preferred equity               41,997         32,000         41,997
Total common equity                 $ 146,182      $ 135,055      $ 150,287
Less intangible assets              50,819         31,478         51,291
Tangible common equity              $  95,363     $ 103,577      $  98,996

 Certain financial information included in the earnings release and the
associated Condensed Consolidated Financial Information (unaudited) is
determined by methods other than in accordance with GAAP. The non-GAAP
financial measure above is calculated by using "tangible common equity," which
is defined as total common equity reduced by intangible assets. "Tangible
book value per common share" is defined as tangible common equity divided by
total common shares outstanding.
 We use non-GAAP measures because we believe they are useful for
evaluating our financial condition and performance over periods of time, as
well as in managing and evaluating our business and in discussions about our
performance. We also believe these non-GAAP financial measures provide users
of our financial information with a meaningful measure for assessing our
financial condition as well as comparison to financial results for prior
periods. These results should not be viewed as a substitute for results
determined in accordance with GAAP, and are not necessarily comparable to
non-GAAP performance measures that other companies may use.



SOURCE MidSouth Bancorp, Inc.

Website: http://www.midsouthbank.com
Contact: Rusty Cloutier, President & CEO or Jim McLemore, CFA, Sr. EVP & CFO,
337.237.8343