June 12, 2017 / 1:01 PM / a month ago

BRIEF-Midsouth Bancorp unit was informed that OCC has determined bank is in "troubled condition"

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June 12 (Reuters) - Midsouth Bancorp Inc:

* Midsouth Bancorp - on June 8, co's unit was informed that OCC has determined that bank is in "troubled condition" for purposes of 12 C.F.R. 5.51 - SEC filing

* Midsouth Bancorp - OCC determination based on deficiencies in latest examination of unit, including deficiencies in asset quality, credit administration

* Midsouth Bancorp - expects its unit will become subject to formal enforcement action with OCC that will impose additional restrictions on operations

* Midsouth Bancorp Inc - company may also become subject to formal or informal enforcement actions with board of governors of Federal Reserve

* Midsouth Bancorp - based on troubled condition determination, co's unit must seek approval from OCC prior to adding or replacing members of board

* Midsouth Bancorp - imposition of enforcement action, being placed in troubled condition could have material negative effect on business, operations Source text: (bit.ly/2rifINw) Further company coverage:

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