Deposit Guaranty in bid for LBO Bancorp.

JACKSON, Miss. -- Deposit Guaranty Corp. announced a letter of intent to acquire LBO Bancorp and merge LBO's Louisiana Bank into Deposit Guaranty's Commercial National Bank of Shreveport, La.

LBO, based in West Monroe, La., has five banking offices in the Monroe area and reported assets of $99 million on March 31.

The transaction, a stock transfer worth about $21 million, awaits execution of a definitive agreement, approval by the boards of directors, and approvals by regulatory authorities.

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