NATCHEZ — Home Bancorp Inc., the Lafayette, La.-based holding company of the 105-year-old Home Bank, has completed its acquisition of Britton & Koontz Capital Corporation, the holding company of Britton & Koontz Bank, N.A.
Shareholders of Britton & Koontz will receive $16.14 per share in cash, resulting in an aggregate deal value of $34.5 million.
The combined company has total assets of approximately $1.2 billion, $870 million in loans and $960 million in deposits.
“As we’ve gotten to know Home Bank’s leadership and culture over the past months,” said W. Page Ogden, president and CEO of Britton & Koontz, “we enter this new era of banking certain we’ve partnered with people who share the values of our customers and colleagues.”
Britton & Koontz’s Deanna Bowser has been named Home Bank’s market president for Mississippi.
Home Bank plans to convert the branch and operating systems of the former Britton & Koontz Bank locations to those of Home Bank next month.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info