Mid-Southern Bancorp, Inc.
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Alexander G. Babey
- Full Time Employees
- 40
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 300 North Water Street Salem IN United States of America 47167
- IPO Date
- Oct 26, 1999
- CIK
- 0001734875
- Website
- mid-southern.com
- Similar Companies
- Business
- Mid-Southern Bancorp, Inc. is a financial holding company headquartered in Salem, Indiana, operating primarily through its subsidiary Mid-Southern Savings Bank, FSB. The company provides a comprehensive range of banking products and services focused on community banking in Southern Indiana. Its core offerings include residential mortgage loans secured by first mortgages on one- to four-family homes, home equity lines of credit (HELOCs), commercial real estate loans including owner-occupied and non-owner-occupied properties, construction loans, consumer loans such as automobile and personal loans, and various deposit accounts including checking, savings, money market accounts, and certificates of deposit. The company emphasizes local underwriting and servicing, targeting individuals, families, small to medium-sized businesses, and real estate investors within its geographic footprint. Founded in 1985, Mid-Southern Bancorp emphasizes relationship banking with a conservative credit risk profile, primarily funding its loan portfolio through low-cost core deposits sourced from its community. The company operates multiple physical branches supported by online and mobile banking platforms. It maintains a well-capitalized status with a focus on residential mortgage lending supplemented by a strategic increase in commercial real estate and business lending to diversify its loan portfolio and enhance yields. The latest major development for Mid-Southern Bancorp is its definitive purchase and assumption (P&A) agreement with Beacon Credit Union, under which Beacon Credit Union will acquire substantially all assets and assume liabilities of Mid-Southern Savings Bank in an all-cash transaction expected to close by the fourth quarter of 2024, subject to customary regulatory and shareholder approvals. This transaction marks Beacon Credit Union's first community bank acquisition and represents a strategic expansion into southern Indiana. Concurrently, Mid-Southern Bancorp plans to dissolve following the transaction, with residual funds after the wind-up intended to be donated to charity. The anticipated combined entity will have approximately $1.7 billion in assets and an expanded branch network across Indiana. Mid-Southern Bancorp has also recently increased its Board of Directors from seven to eight members, appointing James O. King III to enhance governance and operational capabilities. This acquisition and dissolution represent a significant strategic shift, marking the wind-down of Mid-Southern Bancorp's banking operations and transfer of its customer base to Beacon Credit Union, reflecting a broader industry trend of community bank consolidations in the region. Therefore, Mid-Southern Bancorp, Inc. serves as a regional bank holding company with a traditional community banking model, offering a broad suite of loan and deposit products in Southern Indiana, now transitioning through acquisition and planned dissolution as part of its latest corporate developments.
Mid-Southern Bancorp, Inc. Announces Updated Range of Per Share Consideration in Dissolution Payment and Payment Record Date
MID-SOUTHERN BANCORP, INC., MID-SOUTHERN SAVINGS BANK, FSB AND BEACON CREDIT UNION SIGN DEFINITIVE PURCHASE AND ASSUMPTION AGREEMENT
Mid-Southern Bancorp, Inc. Announces its Quarterly Cash Dividend
Mid-Southern Bancorp, Inc. Reports Results of Operations for the Second Quarter Ended June 30, 2023
Mid-Southern Bancorp, Inc. Reports Results of Operations for the Second Quarter of 2021
Mid-Southern Bancorp, Inc. Reports Results of Operations for the Fourth Quarter and Year Ended December 31, 2020
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