Home Bancorp completes acquisition of B&K
by MBJ Staff
Published: February 17,2014
Tags: acquisition, bank, banking, Britton & Koontz Bank, Britton & Koontz Capital Corporation, buy, finance, financial institution, Home Bancorp Inc., Home Bank, merger, purchase, sale, sell, W. Page Ogden
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.
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