BATON ROUGE, La.--(BUSINESS WIRE)--Investar Bank announced that the shareholders of First Community Holding Company, in a special meeting, today approved Investar’s proposed acquisition of First Community Bank, with an expected May 1 legal merger that will increase Investar’s northshore New Orleans presence and further expand its high-touch community banking franchise in southeast Louisiana.
In addition, Investar today announced that it has received all required regulatory approvals.
Until operational conversion, which will not take place until June 20-23, First Community customers will see no changes in their banking services and should continue to use their checks, make loan payments, conduct online banking and take advantage of other First Community services as before.
For added customer-service and convenience prior to the June operational conversion, the customers of either bank may begin using any Investar or First Community branch, where associates are ready to serve all of customers’ financial services needs, and any of the banks’ conveniently located ATMs surcharge-free, all effective immediately. First Community customers will have full access to all Investar products, service and delivery channels June 24.
Investar will have 9 branches in the following markets following completion of the First Community transaction: Hammond (1), Mandeville (2), Denham Springs (1), Baton Rouge (2), Port Allen (1), Prairieville (1) and Metairie (1). A 10th location is expected to open later this year, in Lafayette.
Investar Bank, which had total assets of $400 million at March 31, 2013, provides comprehensive products and services for businesses and individuals. The bank is considered well-capitalized for regulatory purposes, with a Tier 1 Capital Ratio of 11.05%.
