Lafayette-based MidSouth Bancorp has announced that, effective Feb. 15, seasoned Lafayette banker Jerry Reaux will join the company as chief operating officer, and company veteran Troy Cloutier will be promoted to the newly created position of chief banking officer and senior executive vice president. Reaux also will succeed J.B. Hargroder as vice chairman of the MidSouth Bancorp board following this May’s shareholders’ meeting.
Reaux will oversee finance and accounting, information technology, credit and human resources. He most recently served as vice chairman and CEO of Tri-Parish Bank, and was previously president/CEO of LBA Savings Bank and executive vice president of Bank of Lafayette. The Lafayette native is widely known in the Hub City banking community for taking LBA’s parent company public in 1996 and later orchestrating a merger with IberiaBank. Reaux is also chairman of the board of The Independent Weekly, LLC, the company that publishes The Independent Weekly.
Troy Cloutier, son of MidSouth President/CEO Rusty Cloutier, is an 18-year veteran of MidSouth. He served most recently regional president for the South and East regions and chairman of the Regional Loan Committee and has managed due diligence for the mergers and acquisition team.
In a press release announcing the leadership changes, Rusty Cloutier says, “After a year-long search by a national firm to seek out management that would strengthen our organization and position us to achieve our expansion/growth objectives, we identified the best leadership team from within our own organization and the Acadiana community. We are delighted that Jerry is joining the MidSouth team. Given his extensive industry experience, Jerry will be a valued addition to MidSouth’s efforts to expand through acquisitions and improve operating efficiencies. Furthermore, having Troy in his position of chief banking officer will allow for a more coordinated focus on organic loan and deposit growth. Bringing this talent together fortifies not only MidSouth Bank’s position in the marketplace but also Lafayette’s place as the banking hub in the state.”
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