MidSouth Bancorp says its earnings fell by 20% in the first quarter, as the Lafayette-based bank felt the sting of the economic downturn. The bank brought in $956,000 in profits during the first quarter, compared with nearly $1.2 million for the same period in 2008. MidSouth, which held a series of town hall meetings across south Louisiana during the quarter to assure customers that the bank was lending money, says its total loans were up nearly 5% over the previous year, to $569.7 million. Total assets were down 1.5%, to $923.1 million.
MidSouth reports earnings drop
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