MidSouth Bancorp shares rose to their highest level since early 2015 on Thursday after the company said that as part of a transition plan already underway to improve performance, the board of has terminated Clive Cloutier as CEO of the holding company and Troy Cloutier as CEO of MidSouth Bank. MSL was up 12% at $16.19 recently, trading in a new 52-week range between $9.01 and $16.25.
Jim McLemore, currently the company’s CFO, has been appointed CEO on an interim basis for both the holding company and bank. McLemore will also retain his current position as CFO during the interim period. These changes are effective immediately. Additionally, MidSouth has recently hired Erin DeWitt as Chief Risk Officer, and Kade Peterson as Chief Information Officer.