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Louisiana Community Bancorp and Tri-Parish Bancshares are forming a five-bank holding company, making it one of the state’s 10 largest banking institutions.
The strategic combination will have total assets nearing $1.2 billion, with 24 offices in 11 different parishes, including Terrebonne Parish. LCB will operate five separately chartered bank subsidiaries – City Savings Bank in DeRidder; Coastal Commerce Bank in Houma; Kaplan State Bank in Kaplan; Teche Bank and Trust in St. Martinville; and Tri-Parish Bank in Eunice.
Donnie Landry remains president of Tri-Parish.
“This partnership is consistent with the strategic objectives of our company, and will enable us to access the resources needed to better serve our markets while remaining true to our community bank roots,” Landry said. “Along with our board of directors, I believe the transaction will benefit our shareholders, our customers, our employees and the communities we have served since 1944.”
“Tri-Parish Bank has a long history of excellent management, admirable corporate citizenship and strong financial performance; all of which make this an outstanding opportunity for our company,” LCB CEO Mark Folse said. “I am excited to work with a banker of Donnie’s caliber and reputation, and the management team at Tri-Parish will help lift our entire organization.”
Each company’s board of directors has unanimously approved the transaction, which is expected to close before the fourth quarter of 2016, subject to shareholder and regulatory approvals. •
