Business First Bancshares in Baton Rouge, La., has agreed to buy Minden Bancorp in Louisiana for roughly $76.1 million.

The $1.2 billion-asset Business First also announced Friday it will raise $66 million by selling 3.3 million shares of common stock at $20 per share through a private placement. The proceeds will be used to help pay for the Minden transaction, keep the combined institution capitalized and for other corporate purposes, Business First said.

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