Investar Bank is going to acquire Hammond, La.-based First Community Bank in a transaction that’s expected to close in the second quarter of 2013.
The New Orleans, La.-based Investar will be expanding its franchise with the $107 million First Community Bank, and no jobs are expected to be eliminated as part of the transaction.
“The northshore of Lake Pontchartrain and all of New Orleans are important regions for Investar Bank,” said John D’Angelo, CEO of Investar, in prepared remarks. “We’re excited to join with the outstanding team at First Community and look forward to growing together as Investar. With our exceptionally strong capital, which is always reassuring to customers but is even more so during today’s economic challenges, we have the capacity to help small businesses grow and individuals and families prosper.”