Filing Details

Accession Number:
0000899140-19-000559
Form Type:
13D Filing
Publication Date:
2019-09-26 16:17:50
Filed By:
Basswood Capital
Company:
Midsouth Bancorp Inc (NYSE:MSL)
Filing Date:
2019-09-26
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Basswood Capital Management 0 0 0 0 0 0%
Basswood Partners 0 0 0 0 0 0%
Basswood Enhanced Long Short GP 0 0 0 0 0 0%
Basswood Financial Fund 0 0 0 0 0 0%
Basswood Financial Fund, Inc 0 0 0 0 0 0%
Basswood Financial Long Only Fund 0 0 0 0 0 0%
Basswood Enhanced Long Short Fund 0 0 0 0 0 0%
Basswood Opportunity Partners 0 0 0 0 0 0%
Basswood Opportunity Fund, Inc 0 0 0 0 0 0%
Matthew Lindenbaum 0 0 0 0 0 0%
Bennett Lindenbaum 0 0 0 0 0 0%
Filing


 SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 1)

MidSouth Bancorp, Inc.

(Name of Issuer)


Common Stock, Par Value $0.10

(Title of Class of Securities)

598039105
(CUSIP Number)

Matthew Lindenbaum
Basswood Capital Management, L.L.C.
645 Madison Avenue, 10th Floor
New York, NY 10022
(212) 521-9500

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

(with copies to)
Michael E. Brandt, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019
(212) 728-8000

September 20, 2019

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: ☐

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No.  598039105
 
Page 2 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Capital Management, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA





CUSIP No.  598039105
 
Page 3 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Partners, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO



CUSIP No.  598039105
 
Page 4 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Enhanced Long Short GP, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO



CUSIP No.  598039105
 
Page 5 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Financial Fund, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN



CUSIP No.  598039105
 
Page 6 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Financial Fund, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO


CUSIP No.  598039105
 
Page 7 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Financial Long Only Fund, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN



CUSIP No.  598039105
 
Page 8 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Enhanced Long Short Fund, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN



CUSIP No.  598039105
 
Page 9 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Opportunity Partners, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN



CUSIP No.  598039105
 
Page 10 of 17 Pages
1
NAME OF REPORTING PERSON
 
Basswood Opportunity Fund, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO



CUSIP No.  598039105
 
Page 11 of 17 Pages
1
NAME OF REPORTING PERSON
 
Matthew Lindenbaum
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN


CUSIP No.  598039105
 
Page 12 of 17 Pages
1
NAME OF REPORTING PERSON
 
Bennett Lindenbaum
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ☒
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
AF
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7
SOLE VOTING POWER
0
8
SHARED VOTING POWER
0 (see Item 5)
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
0 (see Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 5)
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN



EXPLANATORY NOTE

Pursuant to Rule 13d-2 promulgated under the Act, this Schedule 13D/A (this “Amendment No. 1”) amends the Schedule 13D filed on May 9, 2019 (the “Original Schedule 13D”) (the Original Schedule 13D and this Amendment No. 1 are collectively referred to herein as the “Schedule 13D”). This Amendment No. 1 relates to the common stock, par value $0.10 per share (the “Common Stock”), of MidSouth Bancorp, Inc. (the “Issuer”), a Louisiana corporation, which ceased to exist and is survived by Hancock Whitney as a result of the Merger. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Original Schedule 13D.

Item 4.   Purpose of Transaction.

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following at the end thereof:

On September 18, 2019, the stockholders of the Issuer approved the Merger Agreement and the transactions contemplated thereby, at which point the Basswood Support Agreement was automatically terminated in accordance with its terms. Pursuant to the terms of the Merger Agreement, on September 21, 2019 (the “Effective Date”), the Merger was consummated. As a result of the Merger, each share of Common Stock that was held by the Reporting Persons was converted into the right to receive without interest, 0.2952 shares of the common stock, par value $3.33 per share, of Hancock Whitney. In addition, upon the Effective Date, the Observer Rights Agreement, dated as of October 26, 2018, between the Issuer and the Management Company, was automatically terminated in accordance with its terms. Accordingly, as of September 21, 2019, the Reporting Persons ceased to beneficially own any Common Stock of the Issuer.
  
Item 5.   Interest in Securities of the Issuer.

Items 5(a)-(c) and (e) of the Schedule 13D are hereby amended and restated to read as follows:

(a) As a result of the transactions described in Item 4 of this Amendment No. 1, as of September 21, 2019, none of the Reporting Persons beneficially own any Common Stock of the Issuer.

(b) As a result of the transactions described in Item 4 of this Amendment No. 1, as of September 21, 2019, none of the Reporting Persons have any voting or dispositive power over any shares of Common Stock of the Issuer.

(c) Schedule I hereto sets forth all transactions with respect to the Common Stock of the Issuer effected by the Reporting Persons during the past sixty (60) days. All such transactions were effected in the open market, and the per share prices include any commissions paid in connection with such transactions.

(e)As of September 21, 2019, the Reporting Persons ceased to be the beneficial owners of more than five percent (5%) of the Common Stock of the Issuer.



Item 7.    Material to be filed as Exhibits.
1. Schedule A - Trading History


SIGNATURES
After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned, severally and not jointly, certifies that the information set forth in this statement is true, complete and correct.

Dated: September 26, 2019
BASSWOOD CAPITAL MANAGEMENT, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD PARTNERS, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD ENHANCED LONG SHORT GP, LLC
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD ENHANCED LONG SHORT FUND, LP
 
  By: Basswood Capital Management, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD FINANCIAL FUND, LP
 
   By: Basswood Capital Management, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   


   
Dated: September 26, 2019
BASSWOOD FINANCIAL LONG ONLY FUND, LP
 
   By: Basswood Capital Management, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD FINANCIAL FUND, INC.
 
By: Basswood Capital Management, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD OPPORTUNITY PARTNERS, LP
 
By: Basswood Capital Management, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
BASSWOOD OPPORTUNITY FUND, INC.
 
By: Basswood Capital Management, L.L.C.
   
 
By:
/s/ Matthew Lindenbaum                                  
   
Name: Matthew Lindenbaum
   
Title: Managing Member
   
   
Dated: September 26, 2019
/s/ Matthew Lindenbaum                                                    
 
Matthew Lindenbaum
   
   
Dated: September 26, 2019
/s/ Bennett Lindenbaum                                                     
 
Bennett Lindenbaum
   





Schedule I

Transaction Type
Fund
Trade Date
Shares Purchased/Sold
Price (Gross)
Trade Amount
Sell
Basswood Managed Account
09/20/19
 216,686
 $11.38
 $2,462,325.30
Sell
Basswood Managed Account
09/20/19
 110,212
 $11.38
 $1,252,401.15
Sell
Basswood Managed Account
09/20/19
 146,694
 $11.38
 $1,666,966.71
Sell
Basswood Managed Account
09/20/19
 22,574
 $11.38
 $256,521.10