Business First Bancshares in Baton Rouge, La., has agreed to buy a registered investment adviser in Ridgeland, Miss.
The $4.2 billion-asset Business First said in a press release Monday that it expects to close the acquisition of Smith Shellnut Wilson “in the coming weeks.” It did not disclose the price it will pay.
SSW specializes in managing investment portfolios for corporations, foundations and individuals. The company has $3.5 billion of assets under management.
Business First’s bank manages $235 million through its wealth solutions division.
Business First “has worked closely with SSW since the day we chartered 15 years ago,” Jude Melville, the bank’s president and CEO, said in the release.
“We value the quantifiable impact they’ve had on the management of our investment portfolio, we respect the sophistication of their capabilities as specialists and we trust them as people,” Melville added.
Fenimore, Kay, Harrison & Ford advised Business First. Brunini, Grantham, Grower & Hewes advised SSW.
