Actually, Mississippi State has passed us up as well, I believe. Ole Miss is actually smaller than USM.
We used to be about the same size as 'Bama, but they recently made a push to increase enrollment.
Anyway, it becomes clear that the only thing holding us back from rapid growth is housing... we turned away several hundred kids last Fall from lack of residental facilities. The name-change is helping, the community is helping (this is easily the best college community in the state, and one of the best in the South), the successes we're having in academics and athletics, and other factors are going to push us up further... despite rising admissions standards.
And if you saw the recent article, Lafayette Parish is now at 214K (it was about 60K when I was in school, and with open admissions, UL was about 17K even at that time).
With the new apartments, the housing shortage will change. Look for us to grow a few hundred this Fall.
With growing enrollments, I would guess that the new Admin will push for more on-campus housing. Then once kids realize that there is a strong alternative to State, and one that is superior in many aspects, I predict we will approach 20K in a few years.