Tri-Parish, Louisiana Community Bancorp announce agreement

An agreement between Louisiana Community Bancorp and Tri-Parish Bancshares will form a five-bank holding company, and one of the 10 largest banking institutions based in Louisiana, a news release announced Thursday.
Houma-based Louisiana Community Bancorp’s news release stated, The resulting bank holding company will have total assets nearing $1.2 billion, with 24 offices in 11 different parishes.
LCB will operate five separately chartered bank subsidiaries: City Savings Bank, headquartered in DeRidder; Coastal Commerce Bank, headquartered in Houma; Kaplan State Bank, headquartered in Kaplan; Teche Bank and Trust, headquartered in St. Martinville; and Tri-Parish Bank, headquartered in Eunice.
Donnie Landry will remain as president of Tri-Parish, and the management and lending team at the bank will continue their service to customers and the communities of Eunice and Lafayette, the news release stated.
“This partnership is consistent with the strategic objectives of our company, and will enable us to access the resources needed to better serve our markets while remaining true to our community bank roots,” Landry said. “Along with our board of directors, I believe this transaction will benefit our shareholders, our customers, our employees, and the communities we have served since 1944.”
Mark Folse, chief executive officer of LCB, stated, “Tri-Parish Bank has a long history of excellent management, admirable corporate citizenship, and strong financial performance; all of which make this an outstanding opportunity for our company.” Folse added, “I am excited to work with a banker of Donnie’s caliber and reputation, and the management team at Tri-Parish will help lift our entire organization.”
The boards of directors of each company have unanimously approved the transaction, which is expected to close before the fourth quarter of 2016, subject to shareholder and regulatory approvals, the news release stated.