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Louisiana-based peers to combine


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Investment Banking Essentials Newsletter April Edition - 2022


Banking Essentials Newsletter April Edition - 2022


Investment Banking Newsletter April 2022

Louisiana-based peers to combine

Houma,La.-based Louisiana CommunityBancorp Inc. and Eunice, La.-based have agreedto merge, the (Thibodaux, La.) DailyComet reported April 7.

The deal's terms were not disclosed. But SNL's valuationsfor bank and thrift targets in the Southwest between April 7, 2015, and April7, 2016, averaged 141.41% of book, 150.93% of tangible book and had a median of24.64x last-12-months earnings, on an aggregate basis.

According to an April 28 regulatory recently obtained by S&PGlobal Market Intelligence, all Tri-Parish Bancshares shares will be acquiredfor cash.

LouisianaCommunity Bancorp, as the resulting entity, will serve as the holding companyfor Houma-based Coastal CommerceBank ($416.4 million); DeRidder, La.-based ($313.4 million); Kaplan, La.-based Kaplan State Bank ($91.3 million); St. Martinville,La.-based Teche Bank & TrustCo. ($109.2 million); and Tri-Parish Bank ($207.5 million). The five will operateunder separate charters.

Thecombined company is projected to have assets of $1.2 billion and 24 offices,the news outlet reported. Louisiana Community Bancorp will enterSt. Landry County, La., with two branches, to be ranked fifth with a 10.24%share of approximately $1.31 billion in total market deposits. It will alsoenter Lafayette County, La., with one branch, to be ranked No. 15 with a 0.55%share of approximately $6.48 billion in total market deposits.

Inaddition, Donald Landry, president and CEO of Tri-Parish Bancshares andTri-Parish Bank, will remain president of the bank following the deal closing,which is expected to occur before the fourth quarter. The transaction is alsostill subject to the required approvals from shareholders and the applicableregulatory agencies.

National Capital LLC served as financial adviser to Tri-Parish Bancshares and KantrowSpaht Weaver was legal counsel. Fenimore Kay Harrison & Ford served aslegal counsel to Louisiana Community Bancorp.

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