The last remaining banking companies in Shreveport, La., announced Wednesday that they are teaming up to create a single banking company with about $250 million of assets.
Processing Content
Home Federal Bancorp Inc., a mutual holding company, said it would buy the $121 million-asset First Louisiana Bancshares Inc. for about $23.7 million in cash and stock and that it intends to fund the deal with proceeds from its conversion to a 100% stock-owned company.
The resulting bank subsidiary would operate under the name First Louisiana Bank. Home Federal's conversion and the sale are expected to close late in the second quarter.
