Jacobs Asset Management, which expressed frustration over a slow turnaround at MidSouth, said it could launch a proxy battle at next year's annual meeting.
An activist investor, which opposed two director nominees, failed to obtain the legally required approval from the Seattle company's state bank regulator before launching its challenge.
An effort to oust two directors at the Seattle company was nullified after the investor failed to seek the required approval from the bank's state regulator.
