Hancock Holding Co., Gulfport, Miss., is planning to add another Louisiana bank to its portfolio.

The $2.9 billion company said this week that it has a deal to acquire American Security Bank, Ville Platte, La., in a stock swap valued at about $59 million. Each share of American Security stock would be about exchanged for 20.4 shares of Hancock stock. At midday Thursday, Hancock stock was trading at $60.50.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.