LAFAYETTE, La., Nov. 8, 2011 /PRNewswire/ -- MidSouth Bancorp, Inc.("MidSouth") (NYSE Amex: MSL) announced today that its subsidiary, MidSouth Bank, N.A., has not only joined the national protest against monthly fees on debit cards (which some "too-big-to-fail" banks are already wisely backing off of), but it also began offering potential customers $5 to bring their big-bank debit cards to the Lafayette-based community bank.
"It's a matter of principle," said MidSouth Bank President and CEO Rusty Cloutier. "We're not thinking people are going to come to us for $5; they're going to come to us because we are responsible stewards of their money, we put their money to work in the form of personal and business loans right here in their communities, and because we want to build a lifelong personal banking relationship with them. But we are also sending the message loud and clear that we're appalled by what these banks are trying to do to their customers."
MidSouth Bank's efforts coincide with those of the Independent Community Bankers of America, a respected trade organization that is taking advantage of a national movement that is seeing many American consumers switching to banking relationships that are closer to home. Already a success, ICBA's "Go Local" campaign has been generating headlines across the country.ICBA is reminding consumers that their local community bank is a safe haven from impersonal bank practices by giant corporations that prompted the nation's financial crisis. Local small businesses themselves, the nation's more than 7,000 community banks thrive only when their customers and communities do the same. ICBA is reminding potential community bank customers that they will be rewarded with lifelong financial relationships by people who care about them and look out for the best interests of their communities.