Deposit Guaranty Corp. said it had agreed to purchase Bank of Gonzales Holding Co., Gonzales, La., for about $27 million in stock.

Bank of Gonzales has $124 million in assets and three offices in Ascension Parish. It will retain its management after the acquisition and will operate as a branch of Citizens National Bank in Hammond, Deposit Guaranty's southeast Louisiana subsidiary.

Under the definitive agreement, 634,000 shares of Deposit Guaranty's common stock will be exchanged for all Bank of Gonzales' shares, or about 1.17 shares for each share of Bank of Gonzales.

Jackson, Miss.-based Deposit Guaranty has assets of $6 billion.

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