8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)			July 27, 2010
MidSouth Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Louisiana		1-11826		72-1020809
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)
102 Versailles Boulevard, Lafayette, Louisiana				70501
(Address of principal executive offices)				(Zip Code)
Registrant’s telephone number, including area code    337-237-8343
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On July 27, 2010, MidSouth Bancorp, Inc. (the “Company”) issued a press release regarding the Company’s earnings for the quarter ending June 30, 2010.  The Company’s earnings release, including financial highlights, is attached hereto as Exhibit 99.1.

The preceding information (including Exhibit 99.1) is being furnished pursuant to Item 2.02 of this Form 8-K.  This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth  by specific reference in such filing.

Item 8.01.  OTHER EVENTS

On July 27, 2010, The Board of MidSouth Bancorp, Inc. announced a cash dividend was declared in the amount of seven cents ($.07) per share to be paid on its common stock on October 1, 2010 to shareholders of record on September 16, 2010.

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d)           Exhibits

99.1  Press Release for 2nd Quarter Earnings dated July 27, 2010.

99.2 Press Release for Quarterly Dividend dated July 27, 2010.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		MIDSOUTH BANCORP, INC.
		Registrant
By:	/s/ James R. McLemore
	James R. McLemore
	Chief Financial Officer
Date:	July 27, 2010

EX-99.1

Investor Contacts: Rusty Cloutier

  President & CEO  or

  Jim McLemore, CFA

  Sr. EVP & CFO

  337.237.8343

Media Contact:      Alex Calicchia

 Chief Marketing Officer

 337.593.3008

MidSouth Bancorp, Inc. Reports Second Quarter 2010 Results

·   Strong Capital Position with Total Risk Weighted Capital of 21.76%

·   Net Earnings Available to Common Shareholders Increased 113% Year-Over-Year

·   FTE Net Interest Margin of 4.73% and NPAs/Total Assets a Modest 2.29%

LAFAYETTE, LA., July 27, 2010/PRNewswire-FirstCall/ -- MidSouth Bancorp, Inc. (“MidSouth”) (NYSE Amex: MSL)today reported net earnings available to common shareholders of $951,000 for the second quarter of 2010, an increase of 113% compared to net earnings available to common shareholders of $446,000 reported for the second quarter of 2009, and a decrease of 16.3% compared to $1,136,000 in net earnings available to common shareholders for the first quarter of 2010.  Diluted earnings for the second quarter of 2010 were $0.10 per common share, an increase of 42.9% from $0.07 per common share reported for the seco nd quarter of 2009, and a decrease of 16.7% from $0.12 per common share reported for the first quarter of 2010.

For the six months ended June 30, 2010, net income available to common shareholders totaled $2,087,000, a 48.9% increase from earnings of $1,402,000 for the first six months of 2009.  Diluted earnings per share were $0.22 for the first six months of 2010, compared to $0.21 for the first six months of 2009.

Total assets at June 30, 2010 were $971.8 million, compared to $972.1 million in total assets reported at December 31, 2009.  Total loans were $586.1 million at June 30, 2010 compared to $585.0 million at year-end 2009 and deposits totaled $769.9 million as of June 30, 2010, compared to $773.3 million on December 31, 2009.  In linked-quarter comparison, total loans increased $9.8 million from $576.3 million at March 31, 2010, primarily in commercial and industrial loans.

MidSouth’s leverage capital ratio increased to 14.35% at June 30, 2010 from 13.95% at December 31, 2009.  Tier 1 risk-weighted capital and total risk-weighted capital ratios were 20.51% and 21.76% at June 30, 2010, compared to 19.34% and 20.54% at December 31, 2009 respectively.

Second quarter net earnings available to common shareholders compared to the same period for the prior year were positively impacted by a $600,000 decrease in the provision for loan losses,  which offset a $326,000 increase in tax expense.  Quarterly revenues, defined as net interest income and non-interest income, increased $268,000 in quarterly comparison.  Net interest income increased $102,000 as a decrease in interest expense on deposits and borrowings exceeded the decrease in interest income from earning assets.  Non-interest income increased $166,000, primarily due to increases of $66,000 in letters of credit income, $59,000 in ATM/debit card income and $34,000 in service charges on deposit account s.  Non-interest

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expense increased $37,000 in quarterly comparison as increases primarily consisting of $259,000 in marketing costs, $180,000 in expenses on other real estate owned (“OREO”), $101,000 in data processing costs, $92,000 in ATM and debit card expenses, and $87,000 in professional and consulting fees were offset by decreases of $334,000 in salaries and benefit costs and $415,000 in FDIC assessments.  The significant decrease in FDIC premiums is due to the one-time assessment recorded in the second quarter of 2009.  The decrease in salaries and benefit costs resulted primarily from a $313,000 decrease in group health insurance expense as MidSouth’s partially self-funded group health insurance plan experienced a l ower amount of insurance claims for the first six months of 2010 compared to the first six months of 2009.

C. R. “Rusty” Cloutier, President and Chief Executive Officer, commenting on earnings results noted, “We are pleased to report an increase in earnings and loans this quarter despite the continued challenges we face with the effects of the oil spill in the Gulf of Mexico and the current economic environment.  Throughout these challenges, we remain committed to meeting the needs of our commercial and retail customers.  We are also committed to seeking growth opportunities that will increase our franchise value for shareholders, customers, and employees.”

In linked-quarter comparison, net earnings available to common shareholders decreased $185,000, primarily due to a $435,000 increase in non-interest expense and a $350,000 increase in the provision for loan losses recorded for the second quarter of 2010.  The increase in provision expense this quarter was primarily due to an increase in specific reserves on one large nonaccrual real estate credit resulting from the revaluation of the underlying collateral.  Provisions totaling $1.5 million were expensed for the second quarter of 2010, compared to the $1.15 million recorded in the first quarter of 2010.  The $435,000 increase in non-interest expense resulted primarily from increases of $236,000 in marketing costs, $ 129,000 in professional and consulting fees, $116,000 in expenses on OREO, $100,000 in occupancy expenses, and $75,000 in ATM and debit card expenses.  The increases in these non-interest expense categories were partially offset by a $313,000 decrease in salaries and benefits.  Net interest income increased $124,000 in linked-quarter comparison and non-interest income increased $383,000, primarily in service charges and other non-interest income on deposit accounts.  

In year-to-date comparison, a $495,000 reduction in non-interest expenses, a $450,000 decrease in the provision for loan losses and a $277,000 increase in non-interest income had a positive impact on earnings.  A $124,000 decrease in net interest income and a $391,000 increase in tax expense lowered the impact to net a $685,000 increase in net income available to common shareholders for the six months ended June 30, 2010 compared to the six months ended June 30, 2009.  The $495,000 reduction in non-interest expenses was primarily driven by a $401,000 decrease in FDIC premiums related to the one-time assessment recorded in the second quarter of 2009.  Increases in marketing, professional and consulting fees, and ORE O expenses were offset by reductions in several non-interest expense categories.  The $277,000 improvement in non-interest income was primarily driven by increases in service charges on deposit accounts and ATM and debit card income.

Asset Quality. Nonaccrual loans totaled $19.8 million as of June 30, 2010, compared to $15.7 million as of June 30, 2009 and $20.4 million as of March 31, 2010.  The increase in nonaccruals year-over-year resulted primarily from the addition of a $4.1 million commercial loan in the first quarter of 2010.  The loan is well collateralized and secured primarily by a marine vessel.  Of the remaining $15.7 million in nonaccrual loans, $11.3 million, or 72.0%, represented two large

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commercial real estate loan relationships in the Baton Rouge market.  Loans past due 90 days or more and still accruing totaled $1.5 million at June 30, 2010, an increase of $0.7 million over June 30, 2009 and an increase of $1.0 million from March 31, 2010.  Total nonperforming assets to total assets were 2.29% at June 30, 2010, compared to 1.89% at June 30, 2009 and 2.25% at March 31, 2010.  One commercial loan totaling $1.2 million was classified as a troubled debt restructuring during the second quarter of 2010 due to a reduction in monthly payments granted to the borrower.

Allowance coverage for nonperforming loans was 39.90% at June 30, 2010, compared to 48.85% at June 30, 2009 and 37.93% at March 31, 2010.  Annualized net charge-offs were 0.75% of total loans for the second quarter of 2010 compared to 0.90% for the second quarter of 2009 and 0.85% for the first quarter of 2010.  The ALLL/total loans ratio was 1.45% for quarter ended June 30, 2010, compared to 1.35% at June 30, 2009 and 1.37% at March 31, 2010.

Mr. Cloutier, commenting on MidSouth’s asset quality, remarked “It is certainly too early to tell what effect the oil spill in the Gulf and the moratorium on deepwater drilling will ultimately have on our asset quality.  We did not see any meaningful change in nonperforming assets in the second quarter.  Also, we saw no significant change in internally criticized or classified loans compared to the first quarter.  Furthermore, several large credits that were experiencing significant difficulty at the end of the first quarter have seen improvement in the second quarter as the clean-up efforts in the Gulf have translated into improved cash flow for the underlying businesses.”

Net Interest Income.   Fully taxable-equivalent (“FTE”) net interest income totaled $10.43 million for the second quarter of 2010, an increase of 0.5%, or $56,000, from the $10.38 million reported for the second quarter of 2009.  The increase in FTE net interest income resulted primarily from a 45 basis point reduction in the average rate paid on interest-bearing liabilities, from 1.63% at June 30, 2009 to 1.18% at June 30, 2010.  The $669,000 reduction in interest expense offset a $613,000 decrease in interest income on earning assets for the period.  Interest income on loans declined due to a $14.4 million decrease in the average volum e and an 8 basis point decrease in the average yield on loans in quarterly comparison. Interest income on investments decreased as the impact of the 150 basis point decline in the average yield on investments offset a $67.5 million increase in the average volume.  Investments yields declined throughout 2009 as cash flows from maturing and called securities earning higher yields were reinvested primarily in lower-yielding shorter-term agency bonds.  Investment yields were further impacted by an increase in cash held overnight earning interest at a rate of 25 basis points or less.  As a result of these changes in volume and yield on earning assets and interest bearing liabilities, the FTE net interest margin decreased 19 basis points, from 4.92% for the second quarter of 2009 to 4.73% for the second quarter of 2010.

In year-to-date comparison, FTE net interest income decreased $221,000 as interest income from loans and investments decreased $1.5 million, partially offset by a $1.3 million reduction in interest expense.  The decrease in interest income on average earning assets resulted primarily from a 64 basis point decline in the average yield earned on interest earning assets, from 6.28% at June 30, 2009 to 5.64% at June 30, 2010, driven by lower investment yields.  An average volume increase of $42.3 million in average earning assets partially offset the impact of lower yields.  Interest expense decreased primarily due to a 45 basis point reduction in the average rate paid on interest-bearing liabilities, from 1.67% at Jun e 30, 2009 to 1.22% at June 30, 2010, driven by a decrease in the average rate paid on interest-bearing deposits.  As a result, the

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taxable-equivalent net interest margin declined 29 basis points, from 5.03% for the six months ended June 30, 2009 to 4.74% for the six months ended June 30, 2010.

In linked-quarter comparison, FTE net interest income increased $112,000, with increased loan volume and decreased interest expense from lowered deposit rates offsetting decreased interest income on earning assets due to lower yields.  Balance sheet and yield changes in linked-quarter comparison resulted in a 1 basis point decrease in the FTE net interest margin, from 4.74% at March 31, 2010 to 4.73% at June 30, 2010.

About MidSouth Bancorp, Inc.

MidSouth Bancorp, Inc. is a bank holding company headquartered in Lafayette, Louisiana with assets of $972 million as of June 30, 2010.  Through our wholly owned subsidiary, MidSouth Bank, N.A., we offer a full range of banking services to commercial and retail customers in south Louisiana and southeast Texas.  MidSouth Bank has 35 locations in Louisiana and Texas and more than 50 ATMs.

Forward-Looking Statements  Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties.  These statements include, among others, statements regarding future results, changes in the local and national economy including the Gulf oil spill and deepwater drilling moratorium, the work-out of nonaccrual loans and potential acquisitions.  Actual results may differ materially from the resu lts anticipated in these forward-looking statements.  Factors that might cause such a difference include, among other matters, changes in interest rates and market prices that could affect the net interest margin, asset valuation, and expense levels; changes in local economic and business conditions, including, without limitation, changes related to the oil and gas industries, that could adversely affect customers and their ability to repay borrowings under agreed upon terms, adversely affect the value of the underlying collateral related to their borrowings, and reduce demand for loans; the timing and ability to reach any agreement to restructure nonaccrual loans;  increased competition for deposits and loans which could affect compositions, rates and terms; the timing and impact of future acquisitions, the success or failure of integrating operations, and the ability to capitalize on growth opportunities upon entering new markets; loss of critical personnel and the challenge of hiring q ualified personnel at reasonable compensation levels; legislative and regulatory changes, including changes in banking, securities and tax laws and regulations and their application by our regulators, changes in the scope and cost of FDIC insurance and other coverages, and changes in the U.S. Treasury’s Capital Purchase Program; and other factors discussed under the heading “Risk Factors” in MidSouth’s Annual Report on Form 10-K for the year ended December 31, 2009 filed with the SEC on March 16, 2010 and in its other filings with the SEC.  MidSouth does not undertake any obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or otherwise, except as required by law.

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MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands except per share data)
	For the Quarter Ended									For the Quarter Ended
	June 30,						%			March 31,			%
EARNINGS DATA	2010			2009			Change			2010			Change
Total interest income	$	11,929		$	12,496			-4.5	%	$	11,939			-0.1	%
Total interest expense		1,905			2,574			-26.0	%		2,039			-6.6	%
Net interest income		10,024			9,922			1.0	%		9,900			1.3	%
FTE net interest income		10,434			10,378			0.5	%		10,322			1.1	%
Provision for loan losses		1,500			2,100			-28.6	%		1,150			30.4	%
Non-interest income		4,024			3,858			4.3	%		3,641			10.5	%
Non-interest expense		11,169			11,132			0.3	%		10,734			4.1	%
Net earnings before income taxes		1,379			548			151.6	%		1,657			-16.8	%
Provision for income tax		129			(197	)		165.5	%		222			-41.9	%
Net income		1,250			745			67.8	%		1,435			-12.9	%
Dividends on preferred stock		299			299			0.0	%		299			0.0	%
Net income available to common shareholders	$	951		$	446			113.2	%	$	1,136			-16.3	%
PER COMMON SHARE DATA
Basic earnings per share	$	0.10		$	0.07			42.9	%	$	0.12			-16.7	%
Diluted earnings per share		0.10			0.07			42.9	%		0.12			-16.7	%
Quarterly dividends per share		0.07			0.07			0.0	%		0.07			0.0	%
Book value at end of period		11.97			11.28			6.1	%		11.87			0.8	%
Tangible book value at period end		11.00			9.84			11.8	%		10.90			0.9	%
Market price at end of period		12.77			16.80			-24.0	%		16.50			-22.6	%
Shares outstanding at period end (1)		9,725,252			6,618,220			46.9	%		9,723,268			0.0	%
Weighted average shares outstanding
Basic		9,707,299			6,589,264			47.3	%		9,694,617			0.1	%
Diluted		9,729,421			6,607,366			47.3	%		9,720,055			0.1	%
AVERAGE BALANCE SHEET DATA
Total assets	$	967,869		$	926,878			4.4	%	$	969,292			-0.1	%
Loans and leases		581,565			595,955			-2.4	%		579,464			0.4	%
Total deposits		764,665			765,200			-0.1	%		765,612			-0.1	%
Total common equity (1)		116,136			75,603			53.6	%		115,350			0.7	%
Total tangible common equity		106,694			66,048			61.5	%		105,882			0.8	%
Total equity (2)		135,423			94,692			43.0	%		134,588			0.6	%
SELECTED RATIOS	6/30/2010			6/30/2009						3/31/2010
Annualized return on average assets		0.39	%		0.19	%		105.3	%		0.48	%		-18.8	%
Annualized return on average tangible common equity		3.58	%		2.71	%		32.1	%		4.35	%		-17.7	%
Average loans to average deposits		76.05	%		77.88	%		-2.3	%		75.69	%		0.5	%
Taxable-equivalent net interest margin		4.73	%		4.92	%		-3.9	%		4.74	%		-0.2	%
Leverage capital ratio (1) (2)		14.35	%		10.63	%		35.0	%		14.29	%		0.4	%
CREDIT QUALITY
Allowance for loan losses (ALLL) as a % of total loans		1.45	%		1.35	%		7.4	%		1.37	%		5.8	%
Nonperforming assets to total equity + ALLL		15.46	%		17.17	%		-10.0	%		15.34	%		0.8	%
Nonperforming assets to total loans, other real estate
owned and other foreclosed assets		3.80	%		2.93	%		29.7	%		3.79	%		0.3	%
Annualized net YTD charge-offs to total loans		0.75	%		0.90	%		-16.9	%		0.85	%		-12.2	%
(1) On December 22, 2009, the Company completed an underwritten capital offering of 2.7 million shares of common stock at $12.75 per share.
On January 7, 2010, the underwriters of the offering exercised their overallotment option and the Company issued an additional 405,000 of
common stock at $12.75.
(2) On January 9, 2009, the Company participated in the Capital Purchase Plan of the U. S. Department of the Treasury, which added $20 million in capital in the form of preferred stock.

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MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
BALANCE SHEET	June 30,			June 30,			%			March 31,			December 31,
	2010			2009			Change			2010			2009
Assets
Cash and cash equivalents	$	36,291		$	39,653			-8.5	%	$	56,895		$	23,350
Securities available-for-sale		277,707			204,918			35.5	%		262,196			271,808
Securities held-to-maturity		1,588			3,668			-56.7	%		2,068			3,043
Total investment securities		279,295			208,586			33.9	%		264,264			274,851
Time deposits held in banks		10,060			21,023			-52.1	%		15,060			26,122
Other investments		5,068			4,429			14.4	%		4,899			4,902
Total loans		586,062			596,114			-1.7	%		576,250			585,042
Allowance for loan losses		(8,471	)		(8,039	)		5.4	%		(7,917	)		(7,995	)
Loans, net		577,591			588,075			-1.8	%		568,333			577,047
Premises and equipment		37,213			39,580			-6.0	%		37,955			38,737
Goodwill and other intangibles		9,431			9,540			-1.1	%		9,457			9,483
Other assets		16,832			13,308			26.5	%		17,548			17,650
Total assets	$	971,781		$	924,194			5.1	%	$	974,411		$	972,142
Liabilities and Stockholders' Equity
Non-interest bearing deposits		177,840			185,332			-4.0	%		175,861			175,173
Interest-bearing deposits		592,067			577,320			2.6	%		594,586			598,112
Total deposits		769,907			762,652			1.0	%		770,447			773,285
Securities sold under agreements to repurchase and other short term borrowings		44,668			45,809			-2.5	%		48,146			48,758
Junior subordinated debentures		15,465			15,465			0.0	%		15,465			15,465
Other liabilities		6,018			6,470			-7.0	%		5,634			5,357
Total liabilities		836,058			830,396			0.7	%		839,692			842,865
Total shareholders' equity (1)		135,723			93,798			44.7	%		134,719			129,277
Total liabilities and shareholders' equity	$	971,781		$	924,194			5.1	%	$	974,411		$	972,142
(1) On December 22, 2009, the Company completed an underwritten capital offering of 2.7 million shares of common stock at $12.75 per
share. On January 7, 2010, the underwriters of the offering exercised their overallotment option and the Company issued an additional
additional 405,000 of common stock at $12.75. On January 9, 2009, the Company participated in the Capital Purchase Plan
of the U. S. Department of the Treasury, which added $20 million in capital.

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MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands except per share data)
	Three Months Ended								Six Months Ended
EARNINGS STATEMENT	June 30,					%			June 30,					%
	2010		2009			Change			2010		2009			Change
Interest income	$	11,929	$	12,496			-4.5	%	$	23,868	$	25,290			-5.6	%
Interest expense		1,905		2,574			-26.0	%		3,944		5,242			-24.8	%
Net interest income		10,024		9,922			1.0	%		19,924		20,048			-0.6	%
Provision for loan losses		1,500		2,100			-28.6	%		2,650		3,100			-14.5	%
Service charges on deposit accounts		2,610		2,577			1.3	%		5,058		4,965			1.9	%
Other charges and fees		1,414		1,281			10.4	%		2,607		2,423			7.6	%
Total non-interest income		4,024		3,858			4.3	%		7,665		7,388			3.7	%
Salaries and employee benefits		4,938		5,272			-6.3	%		10,188		10,752			-5.2	%
Occupancy expense		2,284		2,295			-0.5	%		4,532		4,629			-2.1	%
FDIC premiums		337		752			-55.2	%		652		1,053			-38.1	%
Other non-interest expense		3,610		2,813			28.3	%		6,531		5,964			9.5	%
Total non-interest expense		11,169		11,132			0.3	%		21,903		22,398			-2.2	%
Income before income taxes		1,379		548			151.6	%		3,036		1,938			56.7	%
Provision for income taxes		129		(197	)		165.5	%		351		(40	)		977.5	%
Net earnings		1,250		745			67.8	%		2,685		1,978			35.7	%
Dividends on preferred stock		299		299			0.0	%		598		576			3.8	%
Net earnings available to common shareholders	$	951	$	446			113.2	%	$	2,087	$	1,402			48.9	%
Earnings per common share, diluted	$	0.10	$	0.07			42.9	%	$	0.22	$	0.21			4.8	%

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MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands except per share data)
EARNINGS STATEMENT	Second		First		Fourth		Third		Second
QUARTERLY TRENDS	Quarter		Quarter		Quarter		Quarter		Quarter
	2010		2010		2009		2009		2009
Interest income	$	11,929	$	11,939	$	12,253	$	12,498	$	12,496
Interest expense		1,905		2,039		2,412		2,566		2,574
Net interest income		10,024		9,900		9,841		9,932		9,922
Provision for loan losses		1,500		1,150		1,350		1,000		2,100
Net interest income after provision for loan loss		8,524		8,750		8,491		8,932		7,822
Total non-interest income		4,024		3,641		3,686		3,972		3,858
Total non-interest expense		11,169		10,734		10,969		11,326		11,132
Income before income taxes		1,379		1,657		1,208		1,578		548
Income taxes (benefit)		129		222		18		147		(197	)
Net income		1,250		1,435		1,190		1,431		745
Dividends on preferred stock		299		299		300		299		299
Net income available to common shareholders	$	951	$	1,136	$	890	$	1,132	$	446
Earnings per share, diluted	$	0.10	$	0.12	$	0.13	$	0.17	$	0.07

-8-

MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
COMPOSITION OF LOANS	June 30,		June 30,		%			March 31,		December 31,
	2010		2009		Change			2010		2009
Commercial, financial, and agricultural	$	196,024	$	202,360		-3.1	%	$	189,127	$	192,347
Lease financing receivable		5,956		7,538		-21.0	%		6,398		7,589
Real estate - mortgage		271,339		242,595		11.8	%		268,302		265,175
Real estate - construction		43,289		60,062		-27.9	%		39,258		39,544
Installment loans to individuals		68,283		82,434		-17.2	%		72,211		79,476
Other		1,171		1,125		4.1	%		954		911
Total loans	$	586,062	$	596,114		-1.7	%	$	576,250	$	585,042

-9-

MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
ASSET QUALITY DATA	June 30,			June 30,			%			March 31,			December 31,
	2010			2009			Change			2010			2009
Nonaccrual loans	$	19,772		$	15,664			26.2	%	$	20,362		$	16,183
Loans past due 90 days and over		1,459			791			84.5	%		508			378
Total nonperforming loans		21,231			16,455			29.0	%		20,870			16,561
Other real estate owned		1,002			829			20.9	%		927			792
Other foreclosed assets		65			203			-68.0	%		81			51
Total nonperforming assets	$	22,298		$	17,487			27.5	%	$	21,878		$	17,404
Troubled debt restructurings	$	1,198		$	-			100.0	%	$	-		$	-
Nonperforming assets to total assets		2.29	%		1.89	%		21.2	%		2.25	%		1.79	%
Nonperforming assets to total loans + OREO + other  foreclosed assets		3.80	%		2.93	%		29.7	%		3.79	%		2.97	%
ALLL to nonperforming loans		39.90	%		48.85	%		-18.3	%		37.93	%		48.28	%
ALLL to total loans		1.45	%		1.35	%		7.4	%		1.37	%		1.37	%
Year-to-date charge-offs	$	2,325		$	2,779			-16.3	%	$	1,281		$	5,268
Year-to-date recoveries		151			132			14.4	%		53			227
Year-to-date net charge-offs	$	2,174		$	2,647			-17.9	%	$	1,228		$	5,041
Annualized net YTD charge-offs to total loans		0.75	%		0.90	%		-16.5	%		0.85	%		0.86	%

-10-

MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
YIELD ANALYSIS	Three Months Ended							Three Months Ended
	June 30, 2010							June 30, 2009
			Tax							Tax
	Average		Equivalent		Yield/			Average		Equivalent		Yield/
	Balance		Interest		Rate			Balance		Interest		Rate
Taxable securities	$	143,652	$	891		2.48	%	$	93,010	$	1,001		4.30	%
Tax-exempt securities		109,549		1,408		5.14	%		115,933		1,553		5.36	%
Other investments and interest-bearing deposits		27,670		48		0.69	%		4,404		30		2.72	%
Federal funds sold		2,152		1		0.18	%		25,826		18		0.28	%
Time deposits in other banks		19,425		62		1.28	%		10,144		56		2.21	%
Loans		581,565		9,929		6.85	%		595,955		10,294		6.93	%
Total interest earning assets		884,013		12,339		5.60	%		845,272		12,952		6.15	%
Non-interest earning assets		83,856							81,606
Total assets	$	967,869						$	926,878
Interest-bearing liabilities:
Deposits	$	587,140	$	1,424		0.97	%	$	575,103		2,040		1.42	%
Repurchase agreements		46,292		238		2.06	%		44,092		272		2.47	%
Federal funds purchased		0		0		0.00	%		1		0		0.00	%
Other borrowings		0		0		0.00	%		0		0		0.00	%
Junior subordinated debentures		15,465		243		6.22	%		15,465		262		6.70	%
Total interest-bearing liabilities		648,897		1,905		1.18	%		634,661		2,574		1.63	%
Non-interest bearing liabilities		183,549							197,525
Shareholders' equity		135,423							94,692
Total liabilities and  shareholders' equity	$	967,869						$	926,878
Net interest income (TE) and margin			$	10,434		4.73	%			$	10,378		4.92	%
Net interest spread						4.42	%						4.52	%

-11-

MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Condensed Consolidated Financial Information (unaudited)
(in thousands)
YIELD ANALYSIS	Six Months Ended							Six Months Ended
	June 30, 2010							June 30, 2009
			Tax							Tax
	Average		Equivalent		Yield/			Average		Equivalent		Yield/
	Balance		Interest		Rate			Balance		Interest		Rate
Taxable securities	$	147,910	$	1,891		2.56	%	$	97,369	$	2,148		4.41	%
Tax-exempt securities		110,642		2,855		5.16	%		117,868		3,166		5.37	%
Other investments and interest-bearing
deposits		20,587		89		0.86	%		4,357		62		2.85	%
Federal funds sold		1,211		1		0.16	%		13,774		19		0.27	%
Time deposits in other banks		22,752		136		1.21	%		9,610		131		2.75	%
Loans		580,519		19,728		6.85	%		598,354		20,693		6.97	%
Total interest earning assets		883,621		24,700		5.64	%		841,332		26,219		6.28	%
Non-interest earning assets		84,937							83,157
Total assets	$	968,558						$	924,489
Interest-bearing liabilities:
Deposits	$	591,353	$	2,991		1.02	%	$	570,579		4,214		1.49	%
Repurchase agreements		45,153		464		2.07	%		36,371		472		2.62	%
Federal funds purchased		491		2		0.81	%		1,162		5		0.86	%
Other borrowings		1,376		3		0.44	%		9,326		23		0.50	%
Junior subordinated debentures		15,465		484		6.22	%		15,465		528		6.79	%
Total interest-bearing liabilities		653,838		3,944		1.22	%		632,903		5,242		1.67	%
Non-interest bearing liabilities		179,712							197,989
Shareholders' equity		135,008							93,597
Total liabilities and  shareholders' equity	$	968,558						$	924,489
Net interest income (TE) and margin			$	20,756		4.74	%			$	20,977		5.03	%
Net interest spread						4.42	%						4.61	%

-12-

MIDSOUTH BANCORP, INC. and SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures
(in thousands except per share data)
	For the Quarter Ended
	June 30,		June 30,		March 31,
Per Common Share Data	2010		2009		2010
Book value per common share	$	11.97	$	11.28	$	11.87
Effect of intangible assets per share		0.97		1.44		0.97
Tangible book value per common share	$	11.00	$	9.84	$	10.90
Average Balance Sheet Data
Total equity	$	135,423	$	94,692	$	134,588
Preferred equity		19,287		19,089		19,238
Total common equity	$	116,136	$	75,603	$	115,350
Intangible assets		9,442		9,555		9,468
Tangible common equity	$	106,694	$	66,048	$	105,882
Certain financial information included in the earnings release and the associated Condensed Consolidated Financial
Information (unaudited) is determined by methods other than in accordance with GAAP. The non-GAAP financial
measure above is calculated by using "tangible common equity," which is defined as total common equity reduced by
intangible assets. "Tangible book value per common share" is defined as tangible common equity divided by total
common shares outstanding.
We use non-GAAP measures because we believe they are useful for evaluating our financial condition and
performance over periods of time, as well as in managing and evaluating our business and in discussions about
our performance. We also believe these non-GAAP financial measures provide users of our financial information
with a meaningful measure for assessing our financial condition as well as comparison to financial results for prior
periods. These results should not be viewed as a substitute for results determined in accordance with GAAP, and
are not necessarily comparable to non-GAAP performance measures that other companies may use.

-13-

EX-99.2

Investor Contacts: Rusty Cloutier

  President & CEO  or

  Jim McLemore, CFA

  Sr. EVP & CFO

  337.237.8343

Media Contact:      Alex Calicchia

 Chief Marketing Officer

 337.593.3008

MIDSOUTH BANCORP, INC.

DECLARES REGULAR DIVIDEND

LAFAYETTE, LA., July 27, 2010/PRNewswire-FirstCall/ -- MidSouth Bancorp, Inc.(“MidSouth”) (NYSE Amex: MSL),  announced a cash dividend was declared in the amount of seven cents ($.07) per share to be paid on its common stock on October 1, 2010 to shareholders of record on September 16, 2010.

About MidSouth Bancorp, Inc.

MidSouth Bancorp, Inc. (MSL) is a bank holding company headquartered in Lafayette, Louisiana with assets of $972 million as of June 30, 2010.  Through our wholly owned subsidiary, MidSouth Bank, N.A., we offer a full range of banking services to commercial and retail customers in south Louisiana and southeast Texas.  MidSouth Bank has 35 locations in Louisiana and Texas and more than 50 ATMs.