BancorpSouth (BXS) in Tupelo, Miss., has agreed to buy Ouachita Bancshares in Monroe, La.

The $12.9 billion-asset BancorpSouth will pay up to $112 million in cash and stock for the $652.5 million-asset Ouachita, subject to certain conditions and potential adjustments. Eighty percent of the consideration will involve stock. The deal values Ouachita at 2.2 times tangible book value.

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