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Mississippi-based BancPlus completes acquisition of in-state peer State Capital

Ridgeland, Miss.-based BancPlus Corp. completed its acquisition of in-state peer State Capital Corp., the parent company of State Bank & Trust Co.

State Bank merged with and into BancPlus unit BankPlus, effective April 1.

In connection with the completion of the deal, State Bank CEO Kirk Graves was named senior executive vice president and COO of BankPlus. In addition, Michael Brumfield was appointed executive vice president and regional executive for Louisiana, and Owen Carty was named executive vice president and regional executive for South Mississippi and Alabama.

BankPlus expects the conversion of all State Bank accounts to occur the weekend of June 12.

The combined company has assets of about $4.1 billion, based on financial data as of the end of 2019, according to a news release.