Midsouth Bancorp Buying First Louisiana National Bank

Regional banker MidSouth Bank has agreed to buy First Louisiana National Bank, which has branches in Breaux Bridge, Lafayette and St. Martinville.

Lafayette-based MidSouth said Tuesday that it will pay $11.5 million in cash and 725,000 shares of its common stock. The entire deal is worth just over $19.2 million.

First Louisiana National Bank has total assets of about $115 million.

The purchase has to be approved by shareholders of the bank's holding company and win regulatory approval.

MidSouth has 39 offices in Louisiana and Texas.