Hibernia Corp. said it completed its acquisition of FNB Bancshares, parent of First National Bank of Lake Providence.
The transaction had already been approved by regulators and FNB shareholders. It expands Hibernia's regional market share to 22% from 19%, the bank said.
FNB shareholders will receive 92 shares of Hibernia stock for each FNB share in a tax-free pooling of interests, or 889,640 shares of Hibernia stock valued at about $9.6 million.
With another pending merger with Bunkie Bancshares, parent of Bunkie Bank and Trust, Hibernia will have about $7 billion in assets and 161 banking locations.