Red River Bancshares has entered into an agreement to acquire Baton Rouge based Fidelity Bancorp in an undisclosed deal, subject to regulatory approvals.
The transaction, which is expected to complete in the first quarter of 2013, will expand and boost Red River’s presence from Northwest Louisiana to Southeast Louisiana region with six parishes, 20 banking centers, and 27 ATMs.
Red River Bank president and CEO Blake Chatelain said the joining of two forces will help the bank in continuing to provide its new customers with similar banking service and experience as Fidelity.
"This partnership will not only expand the branch network for both banks’ customers, but will combine our financial resources, knowledge and expertise to help our customers," Chatelain added.
Established in 1999 as an independent community bank, Red River Bank has $1.1bn in assets, 15 banking centers in Central and Northwest Louisiana, and manages 241 staff.
It is a wholly-owned subsidiary of Alexandria based privately-held bank holding company Red River Bancshares.
Fidelity Bank has nearly 50 employees, operates five banking centers and manages $126m in assets.